{"id":696370,"date":"2026-04-27T00:00:00","date_gmt":"2026-04-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=696370"},"modified":"2026-04-27T02:43:08","modified_gmt":"2026-04-27T02:43:08","slug":"spring-cleaning-for-state-debt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/spring-cleaning-for-state-debt\/","title":{"rendered":"Spring cleaning for state debt"},"content":{"rendered":"<section id=\"696372\" 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=\"696372\">\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\/27\/govt-scraps-commercial-curfew\/\">\r\n                            No more early nights                        <\/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\/27\/govt-scraps-commercial-curfew\/\" 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 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1327.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1327.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696372\" class=\"content-area-description single-story post-696372 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today-10 tag-enterpriseam tag-mostafa-madbouly 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 <\/strong><strong>morning, friends. <\/strong>Our big story today dives into the Finance Ministry\u2019s plans for the upcoming fiscal year and what it has in store for indebted state-owned enterprises and agencies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have news that<\/strong> the IFC could soon greenlight a USD 100 mn loan for a hotel overlooking the GEM, and Hassan Allam has been awarded its latest Saudi project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But before we dive in\u2026<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Ni<\/strong><strong>ght owls, rejoice: <\/strong>After a month of early nights, things will return to normal after the Cabinet\u2019s crisis management committee <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0Xga789Qx42L7S1FGx96i4yodvVKQ7BFqAXbJTHjURCeVGGMC1TNTshS9HSh83TvQl\" style=\"\">decided<\/a> to scrap the 11pm curfew on commercial operations introduced earlier this month as part of a wider package of energy rationing measures. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To keep energy use under control <\/strong>over the longer term, the Madbouly government will soon launch incentives to push factories and households to transition to solar energy.<br \/><strong>We\u2019ll be watching for the specific \u201ccarrots\u201d the government will offer to make solar attractive to the average homeowner and manufacturers.<\/strong> To achieve scale, we expect the incentive package to include subsidized financing, duty exemptions on solar panels and inverters, or a more favorable net-metering framework that allows users to sell excess power back to the grid at a more profitable rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about Sunday WFH? <\/strong>Mandatory WFH Sundays, another one of the measures introduced this month to help reduce energy consumption, will be extended indefinitely, cabinet spokesperson Mohamed El Homsani <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MENAArabic\/posts\/%D8%A3%D9%83%D8%AF-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D8%B4%D8%A7%D8%B1-%D9%85%D8%AD%D9%85%D8%AF-%D8%A7%D9%84%D8%AD%D9%85%D8%B5%D8%A7%D9%86%D9%8A-%D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%AB-%D8%A8%D8%A7%D8%B3%D9%85-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A3%D9%86-%D9%86%D8%B8%D8%A7%D9%85-%D8%A7%D9%84%D8%B9%D9%85%D9%84-%D8%B9%D9%86-%D8%A8%D9%8F%D8%B9%D8%AF-%D8%A7%D9%84%D8%A3%D9%88%D9%86\/968937272422567\/\" style=\"\">said<\/a>. <\/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 class=\"tag-border-left\">Hitting the brakes <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>A new cap on annual social ins. increases? <\/strong>Proposed amendments to the Social Ins. Law would cap the annual increase for social ins. contributions at 15%, according to a government document seen by EnterpriseAM. They also would introduce a cap on the annual increase of insurable wage and pension settlements at 15% \u2014 aligned with inflation \u2014 in a bid to keep costs predictable for both employers and the state. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do they stand? <\/strong>The cabinet-proposed amendments are <a target=\"_blank\" href=\"https:\/\/www.almasryalyoum.com\/news\/details\/4253743\" style=\"\">currently with the Senate<\/a>, and after they receive the green light from senators they will most likely head to the House, where lawmakers will discuss and vote on them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why you should care: <\/strong>The new framework gives CFOs the predictability they need to safely plan budgets while also shielding the state from a mismatch between payout rates and inflation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Social ins. in Egypt <\/strong>provides comprehensive coverage for employees across the country, it covers pensions, work injuries, maternity leave, and unemployment support. <\/p>\n<p class=\"tag-border-left\">Rollin\u2019 on the river<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>Transport<\/strong><strong> Ministry is inviting investors to bid for a network of <\/strong><strong>river ports to move goods and containers along some 3k km of waterways<\/strong> \u2014 with European and US companies already in talks over potential investments in river and maritime logistics, a government source tells EnterpriseAM. The plan centers on developing smart ports along the Nile and its branches, with a direct link to seaports \u2014 especially Damietta.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s on the table?<\/strong> Investors will get access to land adjacent to river ports, a unified regulatory authority to cut through bureaucratic overlap, and eligibility for incentives tied to nationally strategic projects, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>A single river barge can carry the equivalent of 40 trucks, cutting road congestion and costs, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1Cj6oH4kW9\/?mibextid=wwXIfr\" style=\"\">ministry<\/a>. The shift would also ease pressure on the road network, lowering maintenance needs and freeing up spending from the state budget.<\/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\"><a id=\"wwtt3\"><\/a><strong> USD 182.5 mn \u2014 that\u2019s the amount of FDI that poured into t<\/strong><strong>he Suez Canal <\/strong><strong>Economic Zone (SCZone)<\/strong><strong> in April <\/strong><strong>as a result of launching<\/strong><strong> nine new factories. <\/strong>The new facilities bring the SCZone\u2019s total investment to over USD 6.5 bn, according to a <a target=\"_blank\" href=\"https:\/\/www.cabinet.gov.eg\/News\/Details\/85311\" style=\"\">cabinet statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In numbers:<\/strong> Exports from operational factories have recently hit USD 2.5 bn, with the authority already eyeing a plan to double that figure in the coming years, SCZone Chairman Walid Gamal El Din says (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dGTWHwR_QB0\" style=\"\">watch,<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dGTWHwR_QB0\" style=\"\">runtime<\/a><a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dGTWHwR_QB0\" style=\"\">: 06:13<\/a>). The zone now houses roughly 700 companies, and over the current fiscal year alone, officials signed over 80 projects worth more than USD 6 bn. Total revenues are expected to surpass EGP 15 bn this year, Gamal El Din says.<\/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>Last call:<\/strong> The Egyptian Tax Authority has extended the validity of VAT registration certificates until 30 June, calling it the final extension, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/tax.egypt\/posts\/pfbid02ALEi2saHqaFqMfHYQT1vR7DaAPn8ndNw4YdyeMVCwSN2rSREKrq1avdpbvX57PsDl\" style=\"\">statement<\/a>. Failure to renew your certificate will see you suspended from the tax system, the taxman warns \u2014 read: no more e-invoice = no more revenues in for you, folks. <\/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 sunny day in Cairo, with a high of 26\u00b0C and a low of 15\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 a couple of degrees cooler in Alexandria<\/strong>, which is in for a high of 24\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 | 11am 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\"><strong>While th<\/strong><strong>e <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2f922f3f-8232-4541-bfeb-66697b1d8790?syn-25a6b1a6=1\" style=\"\">latest developments<\/a><\/strong><strong> from yesterday\u2019s shooting at the White House <\/strong><strong>correspondents\u2019<\/strong><strong> dinner are dominating the front pages<\/strong>, a few other stories have caught our attention: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our daily update on ceasefire negotiations: <\/strong>After the latest round of discussions between the US and Iran fell through, US President Donald Trump appears to have left the ball in Tehran\u2019s court, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/trump-tells-fox-news-iran-can-call-us-if-it-wants-negotiate-2026-04-26\/\" style=\"\">saying<\/a> Iran can reach out by phone to continue negotiations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in markets: <\/strong>Bullish sentiment over AI appears to have <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/the-ai-frenzy-is-back-and-lifting-the-entire-stock-market-to-record-highs-5d5586ac?mod=hp_lead_pos3\" style=\"\">pushed equities to record highs<\/a>. Since the outbreak of the regional war, 82 stocks, most of which are tied to the AI boom, have posted gains above 10%, which the Wall Street Journal attributed to investor confidence in data-center construction and infrastructure providers like Nvidia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of AI: <\/strong>According to new reports, AI may end up costing businesses more than human labor, with computing costs <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2026\/04\/26\/ai-cost-human-workers\" style=\"\">exceeding<\/a> salaries in some cases. Firms like Uber are seeing AI costs skyrocket, with some estimates placing global IT spending at USD 6.3 tn in 2026 \u2014 a 13% y-o-y jump.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the (shrinking?) world of human achievement<\/strong>, Kenyan athlete Sabastian Sawe <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c77a8a7a-8163-4344-87f4-8e2aca44a72d?syn-25a6b1a6=1\" style=\"\">made<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c77a8a7a-8163-4344-87f4-8e2aca44a72d?syn-25a6b1a6=1\" style=\"\">history<\/a> yesterday as the first runner to ever finish a competitive marathon in under two hours. <\/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\/2495.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 Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We take a look at what the upcoming FY 2026\/2027 will mean for the education sector.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mostafa-madbouly\/\">Mostafa Madbouly<\/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=\"696374 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=\"696374\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/696374\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696374\" class=\"content-area-description single-story post-696374 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=\"696375\" 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=\"696375\">\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\/27\/finmin-swaps-internal-debt-for-shares-to-clean-up-balance-sheets\/\">\r\n                            Debt spring cleaning                        <\/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\/27\/finmin-swaps-internal-debt-for-shares-to-clean-up-balance-sheets\/\" 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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Officials hope that lower levels of indebtedness will leave each of the institutions better able to manage their own debt levels in the future, matching the amount and tenor of the debt they take on to their ability to repay without unbudgeted assistance from the Finance Ministry. It\u2019s one thing for FinMin to knowingly finance a subsidy when doing so is a clear government priority. It\u2019s another thing entirely to have to clean up the mess when an agency goes into financial distress after having borrowed more than it could ever repay.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The capital injections are designed close a chapter that saw many public agencies take on substantial debt as part of Egypt\u2019s massive infrastructure buildout. It\u2019s also one part of an ongoing cleanup campaign that aims to bring the national <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/23\/govt-targets-fiscal-balance-in-egp-5-1-tn-fy-2026-27-budget\/\" style=\"\">debt-to-GDP ratio<\/a> down by 3-4% to 78% by June 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where it all came from:<\/strong> State agencies took on significant debt to finance large-scale infrastructure projects, including the Cairo monorail and the high-speed electric train by the National Authority for Tunnels (NAT). The fundamentals of many projects were soon upended by successive currency devaluations that delivered a two-pronged blow: inflating the cost of construction beyond initial projections and undermining revenue assumptions meant to justify borrowing in the first place.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move appears to be a direct response to the International Monetary Fund (IMF) <\/strong><strong>classifying Egypt\u2019s publicly<\/strong><strong> backed<\/strong><strong> debt as posing a form of \u201chigh risk of sovereign stress<\/strong>\u201d in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1263.pdf\" style=\"\">most recent reviews (pdf)<\/a> of the Mabouly government\u2019s reform program. The talks emphasized the IMF\u2019s longstanding concern that the government has been effectively co-signing loans for state companies, ballooning the total value of debt guaranteed by the sovereign to a staggering EGP 5.4 tn as of June 2025. The government has promised the IMF it would shrink the figure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All 59 state economic authorities are now incorporated in the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/finmin-drafts-egp-9-7-tn-consolidated-budget-for-fy-2026-27\/\" style=\"\">consolidated government<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/finmin-drafts-egp-9-7-tn-consolidated-budget-for-fy-2026-27\/\" style=\"\">budget<\/a><\/strong> (another IMF requirement) for the upcoming fiscal year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big borrowers<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry\u2019s contribution to NAT, for example, will jump by 1,307% to around EGP 19.3 <\/strong><strong>bn<\/strong> \u2014 up from EGP 1.3 bn in the current budget. It\u2019s part of a bid to right-size the balance sheet of an institution shackled to projects that were supposed to be paying their own bills by now. The treasury\u2019s contribution to the Egyptian National Railways (ENR), which is engaged in an extensive modernization of a number of railway lines and as well as of rolling stock, will spike by 955% to approximately EGP 10.5 bn, up from just EGP 1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAir is a different story <\/strong>\u2014 the Finance Ministry isn\u2019t swapping debt for equity there. The swaps for agencies including NAT and ENR are one-time things \u2014 EgyptAir is lossmaking thanks to ongoing running costs, and the Finance Ministry is hoping to leave its total earmark for EgyptAir Holding Company unchanged at EGP 8 bn. It also trimmed capital contributions to other economic authorities by around 9.9% to EGP 6.4 bn, down from EGP 7.1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The national carrier's debt is tied to recurring operational costs<\/strong>, including fuel, maintenance, fleet expansions and refurbishing, and below-market ticket pricing. EgyptAir operates a number of <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/ar\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A5%D8%B9%D9%84%D8%A7%D9%85%D9%8A\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A7%D9%84%D9%85%D8%AF%D9%86%D9%8A-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-%D8%AA%D9%85%D8%B6%D9%8A-%D8%A8%D8%AE%D8%B7%D9%88%D8%A7%D8%AA-%D9%85%D8%AA%D8%B3%D8%A7%D8%B1%D8%B9%D8%A9-%D9%86%D8%AD%D9%88-%D8%A7%D9%84%D8%AA%D8%AD%D9%88%D9%84-%D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%86%D8%B8%D9%8A%D9%81%D8%A9\/\" style=\"\">regional routes<\/a> or <a target=\"_blank\" href=\"https:\/\/www.gomhuriaonline.com\/Gomhuria\/1768889.html?srsltid=AfmBOor6aTzWyrvbE3grBvHp7vmqGg0NvyXwYReoPC9Bclre_k9xRsb7\" style=\"\">flights<\/a> that remain unprofitable, but are seen by some policymakers as public services, not commercial luxuries. EgyptAir carries heavy USD-denominated costs \u2014 fuel, spare parts, landing fees, ins., aircraft leases, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The math on EgyptAir could be further complicated by a broader plan<\/strong>, reportedly in the works, to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MENAArabic\/posts\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%8A-%D9%85%D8%B5%D8%B1-%D8%AA%D9%86%D9%81%D8%B0-%D8%AE%D8%B7%D8%A9-%D9%85%D8%AA%D9%83%D8%A7%D9%85%D9%84%D8%A9-%D9%84%D8%AA%D8%AD%D8%AF%D9%8A%D8%AB-%D9%85%D9%86%D8%B8%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A7%D9%84%D9%85%D8%AF%D9%86%D9%8A-%D8%A3%D9%83%D8%AF-%D8%A7%D9%84%D8%B3%D9%8A%D8%AF-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3\/962862866363341\/\" style=\"\">restructure the civil aviation and airports system<\/a> and open it to private sector participation. <\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- 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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/ifc-nears-usd-100-mn-loan-for-hotel-with-a-gem-view\/\">\r\n                            IFC\u2019s suite spot                        <\/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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src=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/209.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"696379\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/ifc-nears-usd-100-mn-loan-for-hotel-with-a-gem-view\/209-jpg-36\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/209.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"209.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/209.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/11\/209.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696378\" class=\"content-area-description single-story post-696378 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam tag-hospitality tag-real-estate tag-tourism 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> IFC\u2019s suite spot: <\/strong>The International Finance Corporation (IFC) is in the final stages of approving a USD 100 mn senior secured corporate loan for AlDau Hospitality, part of ADD Properties, to fund a flagship hotel overlooking the Grand Egyptian Museum, according to a <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/52177\/aldau-gem-hotel\" style=\"\">disclosure<\/a> from the lender. The IFC\u2019s board is expected to vote on the financing package next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The loan is part of a larger multi-tranche financing package.<\/strong> The company also secured a USD 110 mn senior loan from the European Bank for Reconstruction and Development (EBRD), and the remaining USD 55 mn is being provided in parallel tranches by unnamed \u201clocal and\/or international financial institutions,\u201d the disclosure reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If approved, the loan will be extended to Marygo Hospitality BV \u2014 <\/strong>the Netherlands-based holding company that manages the hospitality assets of the Sami Saad Group \u2014 with its Egyptian subsidiaries acting as co-borrowers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind Sami Saad\u2019s strategic shift: <\/strong>A household name in Egypt\u2019s contracting sector via its construction arm Samcrete, the Sami Saad Group has quietly cemented its place as a hospitality-led holding company. This move into hospitality \u2014 spearheaded by launching ADD properties (formerly known as AlDau Development) \u2014 gained momentum with the successful reintroduction of the Hyatt brand to Egypt <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/this-morning-welcome-back-to-the-hyatt-a-not-so-warm-welcome-to-truth-social\/\" style=\"\">back in 2022<\/a>. More recently, the company has been focused on more art-integrated, lifestyle-driven projects near the Giza Plateau.<\/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\">In other debt news<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ismaelia for Real Estate Investment secured financing from the EBRD to scale its <\/strong><strong>ESG-led redevelopment of heritage assets in Downtown Cairo.<\/strong> The capital will be used to retrofit and transform Downtown properties into operational assets, the developer said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1307.pdf\" style=\"\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1307.pdf\" style=\"\">(pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new financing, worth EGP 30-35 mn, is the second tranche of the EBRD financing facility<\/strong>, bringing total disbursements to date to EGP 90-95 mn out of an agreed facility of EGP 145 mn, Chairman Karim Shafei said in comments to <a target=\"_blank\" href=\"https:\/\/www.almasdar.com\/print.aspx?id=169575\" style=\"\">local media<\/a>. The third and final tranche, valued at EGP 50-55 mn, is expected to be drawn down in the coming period, Shafei added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The facility will bankroll Al Ismaelia\u2019s 2026 project pipeline, specifically the Mahmoud Bassiouny boutique hotel and the La Viennoise Retail hub.<\/strong> The Mahmoud Bassiouny project is designed as an immersive stay concept, while the La Viennoise will showcase Egyptian brands and host dining establishments.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"696380 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=\"696380\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/696380\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696380\" class=\"content-area-description single-story post-696380 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.theafricaceoforum.com\/forum-2026\/en\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/889.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span>At Africa CEO Forum 2026 in Kigali, leading CEOs, investors, and policymakers will confront the challenge shaping Africa\u2019s future: scale or fail. Explore ideas, insights, and partnerships driving continental growth. Join the leaders building Africa\u2019s next success stories. Secure your seat at Africa CEO Forum 2026.<\/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=\"696381\" 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=\"696381\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Construction<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/\">\r\n                            Hassan Allam to build Saudi\u2019s flagship art museum                        <\/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\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/\" 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\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/')\">\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\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/\">\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=Hassan Allam JV to establish Saudi Arabia flagship museum&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/\">\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\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/&title=Hassan Allam JV to establish Saudi Arabia flagship museum\">\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=Hassan+Allam+JV+to+establish+Saudi+Arabia+flagship+museum+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F27%2Fhassan-allam-jv-to-establish-saudi-arabia-flagship-museum%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\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1329.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"696382\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/hassan-allam-jv-to-establish-saudi-arabia-flagship-museum\/1329-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1329.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1329.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1329.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1329.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696381\" class=\"content-area-description single-story post-696381 post type-post status-publish format-standard has-post-thumbnail hentry category-construction tag-construction tag-enterpriseam tag-hassan-allam-construction tag-hassan-allam-holding tag-saudi-arabia 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>Our <\/strong><strong>friends <\/strong><strong>at <\/strong><strong>Hassan Allam Holding, along with Saudi Arabia\u2019s AlBawani <\/strong><strong>Holding, will build the Saudi Arabia Museum of Contemporary Art (SAMoCA)<\/strong>, after being awarded the USD 490 mn contract, according to a <a target=\"_blank\" href=\"https:\/\/www.hassanallam.com\/news\/hassan-allam-construction-saudi-arabia-and-albawani-awarded-490m-contract-for-saudi-arabia-museum-of-contemporary-art-samoca\" style=\"\">press release<\/a>. The project will be built in Riyadh\u2019s Diriyah and aims to develop the city into a global cultural and tourism hub. No details were provided on the project timeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is doing what?<\/strong> The project will be executed by a JV between Hassan Allam Construction\u2019s Saudi subsidiary and AlBawani Holding\u2019s AlBawani Co.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What should we expect? <\/strong>SAMoCA will document, research, and showcase the evolution of Saudi modern and contemporary art, according to the <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2571620\" style=\"\">Saudi Press Agency<\/a>. The museum was designed by the UAE-based architectural and design outfit Godwin Austen Johnson, with support from Egypt\u2019s Rafaat Miller Consulting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hassan Allam is no stranger to the Saudi market<\/strong>, having most recently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/15\/hassan-allams-grova-developments-establishes-footprint-in-riyadh-with-sar-3-3-bn-project\/\" style=\"\">launched<\/a> Noor Khuzam, a SAR 3.3 bn integrated residential community in North Riyadh. <\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-construction\/\">Hassan Allam Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/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=\"696383\" 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=\"696383\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/\">\r\n                            Our shifting influence in Washington                        <\/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\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/\" 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\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/')\">\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\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/\">\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=Between shifting security realities in Egypt and Washington\u2019s expectations&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/\">\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\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/&title=Between shifting security realities in Egypt and Washington\u2019s expectations\">\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=Between+shifting+security+realities+in+Egypt+and+Washington%E2%80%99s+expectations+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F27%2Fbetween-shifting-security-realities-in-egypt-and-washingtons-expectations%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\/27\/between-shifting-security-realities-in-egypt-and-washingtons-expectations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696383\" class=\"content-area-description single-story post-696383 post type-post status-publish format-standard hentry category-policy tag-egyptian-us-relationships tag-enterpriseam tag-policy 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 is <\/strong><strong>navigating a moment of simultaneous regional <\/strong><strong>security realignment and shifting influence in Washington<\/strong>, as long-standing assumptions about US assurances are tested and regional actors reassess their positions. This was one of the main takeaways from our conversations with think tanks in Washington, DC, during the AmCham Doorknock Mission last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> These are two parallel conversations in the wake of the US-Iran war \u2014 one focused on regional security dynamics, the other on influence in Washington \u2014 but they intersect at a critical point: Egypt\u2019s ability to navigate both will shape its role in a changing regional order.<\/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\">A security architecture under pressure<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From a regional perspective, the core question is whether the US-led security umbrella is still fit for purpose<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/mei.edu\/person\/mirette-f-mabrouk\/\" style=\"\">Mirette Mabrouk<\/a>, senior fellow at the Middle East Institute. \u201cRecent escalations involving Iran did not create new dynamics so much as expose existing ones,\u201d she says, noting that Gulf states have been forced to confront the limits of a model built on external protection. Gulf exposure to attacks has challenged its long-standing positioning as a stable hub, reinforcing a growing perception that Washington \u2014 and, in some cases, Israel \u2014 may tolerate a degree of regional instability if it aligns with broader strategic objectives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Realignments are emerging but not yet settled: <\/strong>Within this assessment, Mabrouk points to early signs of shifts in alignment patterns that could see the formation of multiple alliances, each including some Gulf states. That said, \u201cno actor can replace the United States as the primary security guarantor in the region,\u201d she stresses, while noting that the current regional security architecture is increasingly seen as insufficient on its own.<\/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\">A different challenge for Egypt in Washington \u2014 relevance and visibility<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Separately, discussions at the Atlantic Council point to a decline in Egypt\u2019s visibility within US policymaking circles<\/strong>, despite its size and long-standing partnership with Washington. The issue, according to the discussion, is not a complete absence of engagement but the lack of a sustained, integrated strategy to influence decision-making. Egypt\u2019s efforts are seen as fragmented compared with those of other countries that have built comprehensive lobbying ecosystems spanning think tanks, media, and diaspora networks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another point frequently raised in Washington is the Trump administration\u2019s scaling back of the role of many institutions<\/strong>, which makes it more difficult for Egypt \u2014 or any country \u2014 to engage in constructive and impactful strategic dialogue with the administration. It should also be taken into account that the US administration currently has a long list of priorities and crises it is managing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEngagement with the United States needs to change because the way the US operates has changed<\/strong>,\u201d researchers at the Atlantic Council say, noting that the role of traditional institutions has declined, creating more space for direct engagement. One example is that <a target=\"_blank\" href=\"https:\/\/www.atlanticcouncil.org\/expert\/maisoon-kafafy\/\" style=\"\">Maisoon Kafafy<\/a>, senior advisor for Middle East programs at the Atlantic Council, recently published an <a target=\"_blank\" href=\"https:\/\/www.atlanticcouncil.org\/blogs\/menasource\/egypts-foreign-minister-one-cannot-secure-waterways-while-ignoring-the-political-order-of-the-states-along-the-shore\/\" style=\"\">open conversation with Foreign Minister Badr Abdelatty<\/a> on the security of maritime corridors in the Red Sea. \u201cThis is the first time we\u2019ve seen an Egyptian foreign minister engage in a somewhat sharp, open dialogue with a think tank focused on the country,\u201d one expert at the council comments. This development reflects a positive shift, but it needs continuity and expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The limits of a security-first relationship: \u201c<\/strong>The Egypt-US relations remain heavily focused on defense and security, with relatively limited engagement in other sectors,\u201d the Atlantic Council researchers highlighted, pointing to missed windows in areas such as energy, education, scientific research, and technology that could broaden the partnership and strengthen Egypt\u2019s position in Washington. Experts also note a messaging gap, in which Egypt is often framed primarily as an aid recipient rather than a strategic economic partner.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Domestic pressures are shaping Egypt\u2019s external role: <\/strong>Egypt\u2019s external positioning is closely tied to domestic economic realities, with pressures on key revenue streams \u2014 including losses at the Suez Canal due to regional disruptions \u2014 alongside broader fiscal constraints limiting policy flexibility, the Atlantic Council researchers argue. Policymakers are balancing the need for economic reform with maintaining social stability, which in turn affects Egypt\u2019s ability to expand its regional role.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe key to building an enhanced US-Egyptian strategic relationship lies in defining a common project<\/strong>,\u201d <a target=\"_blank\" href=\"https:\/\/www.washingtoninstitute.org\/experts\/robert-satloff\" style=\"\">Robert Satloff<\/a>, executive director of The Washington Institute for Near East Policy, notes. \u201cAt one point, that common project was peace, but Egypt does not appear interested in developing this further,\u201d says the institute\u2019s director, who is close to pro-Israel policy circles in the United States. \u201cEgypt seems satisfied with the absence of war, which is no small thing, but Egypt seems satisfied with that,\u201d he argues. It is not easy to identify a major unifying project that could form the foundation of the kind of enhanced strategic partnership, as \u201cwe don\u2019t always see eye to eye on everything in the region \u2014 whether on Libya, Sudan, or elsewhere \u2014 and we have our disagreements, which need to be respected,\u201d he adds.<\/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\">Where the two conversations meet<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taken together, Mabrouk\u2019s analysis and the Atlantic Council discussion point to a convergence of pressures<\/strong>, with Mabrouk describing a region where security assumptions are being reassessed and new alignments are beginning to form, while the Atlantic Council underscores expectations in Washington for Egypt to play a more visible and proactive role. Egypt\u2019s relative stability \u2014 in contrast to ongoing conflicts in Sudan, Syria, and Lebanon \u2014 is widely recognized, but translating that into influence requires a clearer strategy and more effective engagement.<\/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\/egyptian-us-relationships\/\">Egyptian-US relationships<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/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=\"696384\" 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=\"696384\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/\">\r\n                            Egypt\u2019s Venmo is here                        <\/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\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/\" 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\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/')\">\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\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/\">\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=Kiwe gets Central Bank green light to launch nationwide&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/\">\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\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/&title=Kiwe gets Central Bank green light to launch nationwide\">\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=Kiwe+gets+Central+Bank+green+light+to+launch+nationwide+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F27%2Fkiwe-gets-central-bank-green-light-to-launch-nationwide%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\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1321.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"696385\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/kiwe-gets-central-bank-green-light-to-launch-nationwide\/1321-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1321.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1321.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1321.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1321.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696384\" class=\"content-area-description single-story post-696384 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-fintech tag-startup-watch tag-startups 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>Homegrown fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/kiweapp.com\/\" style=\"\">Kiwe<\/a><\/strong> <strong> officially secured final approval from the <\/strong><strong>Central Bank of Egypt for a nationwide launch of its app and card<\/strong>, co-founder Mohamed Khalifa tells EnterpriseAM. The startup is backed by our friends at EFG Hermes, Valu, Marakez, and EFG EV as well as Cairo Capital and Dfin Holding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe approval or licensing process took us around 9 to 12 months and went through different verticals and sectors<\/strong>,\u201d Khalifa tells us. \u201cEach party and each vendor has its own requirements; it is not just the Central Bank. Even the bank you work with has its own requirements, so does Visa or Meeza.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The infrastructure build:<\/strong> Developed in partnership with Banque Misr, Visa, Meeza, and ModuPay, Kiwe offers practical money management tools allowing users to send instant, no-cost transfers and track their spending habits in real time for clearer insights on financial habits, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1315.pdf\" style=\"\">press release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The startup is focusing on moving money talk from utility to lifestyle. <\/strong>Kiwe is positioning itself as a \u201cnew wave\u201d fintech that focuses on how people actually experience money. \u201cIn Egypt, people usually don't like to talk about money, especially money you owe or are owed [\u2026] money should be a social effect and a lifestyle app, not just a financial app where you transact a few times a day to check your balance and then close it. We want Kiwi to be an everyday app, similar to Venmo or CashApp,\u201d Khalifa tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>Kiwe will launch \u201cvery soon,\u201d Khalifa says, and has plans to introduce additional financial products within their suite to continue simplifying money management. The startup also plans to launch another funding round within \u201csix to nine months,\u201d he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Opening the door for more specialized niche players like Kiwe suggests the CBE is opening space alongside state-driven utilities like InstaPay to share end-users. By targeting the social friction points of everyday finance like splitting the bill, saving as a group, and sharing investments, Kiwe is attempting to make \u201cmoney something habitual, not something embarrassing. Look at what Thndr did for investment [\u2026] that is what we want to do for the payments ecosystem,\u201d Khalifa says.<\/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\/fintech\/\">Fintech<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"696386 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=\"696386\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/696386\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696386\" class=\"content-area-description single-story post-696386 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1089.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"696387\" 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=\"696387\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/egypt-will-house-nokias-new-mea-support-hub\/\">\r\n                            Nokia is setting up a regional support hub here                        <\/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\/27\/egypt-will-house-nokias-new-mea-support-hub\/\" 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\/27\/egypt-will-house-nokias-new-mea-support-hub\/')\">\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\/27\/egypt-will-house-nokias-new-mea-support-hub\/\">\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=Egypt will house Nokia\u2019s new MEA support hub&url=https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/egypt-will-house-nokias-new-mea-support-hub\/\">\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\/27\/egypt-will-house-nokias-new-mea-support-hub\/&title=Egypt will house Nokia\u2019s new MEA support hub\">\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=Egypt+will+house+Nokia%E2%80%99s+new+MEA+support+hub+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F04%2F27%2Fegypt-will-house-nokias-new-mea-support-hub%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\/27\/egypt-will-house-nokias-new-mea-support-hub\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1335.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"696388\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/27\/egypt-will-house-nokias-new-mea-support-hub\/1335-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1335.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1335.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1335.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1335.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696387\" class=\"content-area-description single-story post-696387 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ai tag-also-on-our-radar tag-arab-contractors tag-enterpriseam tag-fdi tag-green-economy tag-investment tag-jordan tag-marakez tag-orascom-construction tag-qnb-egypt tag-tech tag-telecommunications 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>Nokia<\/strong><strong> plans to set up a regional technical hub in Egypt to act as its <\/strong><strong>centralized operatio<\/strong><strong>nal center for the<\/strong><strong> Middle East and Africa<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1322.pdf\" style=\"\">statement (pdf)<\/a> from the company and another <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1As11fjmVR\/\" style=\"\">statement<\/a> from the cabinet. Building on a 2024 agreement with Itida and Telecom Egypt, the move targets the country\u2019s and the region\u2019s growing demand for 5G network management and cloud infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dive deeper:<\/strong> Network engineering and AI-driven connectivity bring in much-needed USD in more ways than one. Last year alone, our digital exports hit <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/05\/egypt-begins-work-from-home-experiment-to-cut-energy-use-amid-wartime-pressures\/\" style=\"\">USD 7.4 bn<\/a>, and with plans to further increase that number, a solid digital infrastructure and connectivity are no longer optional.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re sensing a trend<\/strong>, with the announcement coming just days after Kuwaiti franchise giant Alshaya Group <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/23\/egx-could-soon-welcome-up-to-10-state-owned-oil-assets\/\" style=\"\">opened<\/a> its first global talent center in Cairo, which will manage its tech and customer service operations across MENA. <\/p>\n<p class=\"tag-border-left\">Fund for District 5 <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marakez<\/strong><strong>, the develop<\/strong><strong>er behind East Cairo\u2019s District 5,<\/strong> <strong>secured a EGP 5.5 bn <\/strong><strong>loan from QNB Egypt <\/strong>to \u201csupport part of the investment costs associated with the residential and commercial expansions of the District 5 project,\u201d according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/1309.pdf\" style=\"\">press release (pdf)<\/a>. This brings the developer\u2019s recent financing to EGP 8.5 bn, after securing the EGP 3 bn credit facility from Kuwait Finance House Egypt for its business campus <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/20\/private-sector-gets-a-boost-from-the-afdb\/\" style=\"\">earlier this year<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>Marakez is prioritizing delivery speed over financing costs. With inflation historically driving up the cost of raw building materials, developers like Marakez are utilizing bank debt to achieve capital efficiency. By borrowing now, they can finalize the expansion at current material prices, rather than risk further inflation-driven delays.<\/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\">EGAC is now an EU-recognized carbon-footprint verifier<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expo<\/strong><strong>rters<\/strong><strong> eyeing Europe can now have their carbon footprints verified at <\/strong><strong>home<\/strong>, after the European Cooperation for Accreditation (EA) started recognizing the Egyptian Accreditation Council (EGAC) as a carbon footprint verifier, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02mAqoFQ3LhGp8wxVj1om5SdkaqAuxV8EkRTzK3YWAgwdjcCSZ4pzcyVUxmUh6AUBrl\" style=\"\">statement<\/a> from the Industry Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>The move is a crucial step toward helping local manufacturers comply with the EU\u2019s Carbon Border Adjustment Mechanism. By having a locally accredited body recognized by the EA, Egyptian exporters no longer need to seek expensive and time-consuming certifications from foreign bodies, significantly lowering the administrative cost of entering environmentally stringent markets.<\/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\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-egypt\/\">QNB Egypt<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecommunications\/\">telecommunications<\/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=\"696389\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            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hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-private-credit 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>Point:<\/strong> Private credit funds are under pressure from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\" style=\"\">higher<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/22\/private-credit-funds-hit-by-tighter-lending\/\" style=\"\">borrowing costs<\/a> and <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=\"\">transparency concerns<\/a>. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Counter-point:<\/strong> These funds\u2019 conservative leverage and distinct capital structure provide a buffer that limits the risk of a systemic collapse. At least that\u2019s what Amit Seru, senior fellow at the Hoover Institution and professor of finance at Stanford\u2019s Graduate School of Business argues in a piece for the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5e8c7a7e-d9be-43ce-be0d-cc92c4304fb1\" style=\"\">Financial Times<\/a>. Seru\u2019s core thesis is that the asset class isn\u2019t what\u2019s going to set off a 2008-style financial crisis. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private credit funds\u2019 conservatively structured leverage ratio and equity absorption cushion losses<\/strong>, Seru argues. Banking leverage is around 8-to-1, or roughly 12 cents of equity per USD of assets, while private credit has an average ratio of 1.25-to-1. Roughly 65-80 cents of every USD of assets is funded by equity rather than debt for funds that borrow from banks. This means losses are absorbed by long-term equity investors first, making funds more resilient in downturns.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This asset class also holds a strategic advantage by locking in investor capital for long durations.<\/strong> This structure aligns liabilities with the span of underlying loans and reduces the risk of forced liquidation. Meanwhile, banks fund long-term assets with short-term liabilities that can be withdrawn on demand, creating maturity mismatches and fueling financial crises.<\/p><p class=\"tag-border-left\">Bank ties and investor withdrawals aren\u2019t major threats<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concerns about bank linkages are also overstated:<\/strong> Private credit funds typically only use bank credit lines for short-term needs, such as managing the timing of capital calls, Seru notes. The Federal Reserve <a target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/publications\/2025-june-dodd-frank-act-stress-test-results.htm\" style=\"\">even modeled a severe stress<\/a> scenario in which private credit funds face distress and fully draw down these lines \u2014 even then, major banks remain well capitalized.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rising investor withdrawals are less of a distress sign than a financial safety measure.<\/strong> Investors have rushed to redeem their capital amid transparency and AI-related risks, pushing multiple firms to cap withdrawals and avoid selling illiquid loans at steep reductions. These measures don\u2019t mean that the sector is facing a crisis, but rather a precaution designed to slash losses and protect valuable assets.<\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Asian markets hit record highs in early trading this morning, led by Japan\u2019s Nikkei, which gained around 1.5%, and South Korea\u2019s Kospi, which was up over 2.0%. US futures are set to open mixed later today, with futures swinging between gains and losses. <\/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\">52,421<\/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: +25.3%)<\/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>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 52.63<\/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 52.77<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 52.60<\/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 52.70<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,122<\/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: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,789<\/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: -2.0%)<\/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>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\">5,854<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 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\">7,165<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,379<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,883<\/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: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 105.33<\/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>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 2.52<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-3.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,741<\/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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 78,422<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.0% (YTD: -10.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,047<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +5.4%)<\/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>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\">151.77<\/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-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>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\">18.71<\/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\">-3.1% (YTD: +29.0%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30 <\/strong><strong>rose 0.1% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 9.5 bn (33.4% above the 90-day average). Local investors were the sole net buyers. The index is up 25.3% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Raya Holding (+5.1%), Qalaa Holdings (+3.6%), and Abu Qir Fertilizers (+3.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> GB Corp (-2.5%), Heliopolis Housing (-2.4%), and Misr Cement (-2.3%). <\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-credit\/\">private credit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"696391\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">9<\/div>\r\n\r\n                        <p class=\"f-graphik\">BLACKBOARD<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/education-spending-to-jump-20-in-upcoming-fiscal-budget\/\">\r\n                            A 20% boost for the classroom<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/education-spending-to-jump-20-in-upcoming-fiscal-budget\/\" 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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The above-inflation planned increase follows talk from government quarters in recent months that education and health would stand out as two main priorities for the state\u2019s plan for the fiscal year starting July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters:<\/strong> The increase in education spending amid broader fiscal pressures signals a clear policy prioritization of the sector as a central lever for improving human capital and supporting the transition toward a knowledge-based economy. This positions education at the core of Egypt\u2019s development agenda in the coming years, rather than as a traditional social expenditure line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pre-university funding is set to rise 11.5% y-o-y<\/strong>, much of which will help the construction or replacing of some 13k classrooms, the development of some 1.6k schools, and expanding the Egyptian-Japanese school model with 100 additional schools. Technical education stands out as a priority, with ten new applied technology schools planned, in addition to upgrading 1k technical schools with help from the private sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital literacy and using digital tools to improve education also continues to be a key<\/strong><strong> focus<\/strong>, with some 1.2 mn tablets to be distributed to general secondary and technical school students under the plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Teacher shortages and retention issues will be addressed <\/strong>with additional net incentive payments, set to range from EGP 1-1.1k per month, alongside an EGP 1k increase in the general minimum salary starting in July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher education funding will rise 11.0% y-o-y<\/strong> to support the continued development and establishment of 29 public universities and 12 technological universities. Some 147 university hospitals will also have funds directed toward them for improvements, and 60 will undergo a government-led digitalization push.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan for the fiscal year includes research spending increasing 15% y-o-y<\/strong>, along with 1.3k scholarships and the redevelopment of 13 research centers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Al Azhar institutions will see the biggest funding increase, with a planned 27.6%<\/strong><strong> increase in allocated funding <\/strong>that will help build 103 new education centers, renovate a further 142, and further develop 200 existing centers, part of a digitalization push.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blackboard\/\">Blackboard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"696393\" 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\/27\/696393\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-696393\" class=\"content-area-description single-story post-696393 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;\">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): Labor Day National Holiday.<\/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 style=\"font-weight:400;\">September 2028: First unit of the Dabaa nuclear power plant begins operations.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>No more early nights | A changing regional security landscape | How much are we spending on education next 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