{"id":707870,"date":"2026-06-04T00:00:00","date_gmt":"2026-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=707870"},"modified":"2026-06-04T02:56:50","modified_gmt":"2026-06-04T02:56:50","slug":"ascom-board-advances-ostool-buyout","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/ascom-board-advances-ostool-buyout\/","title":{"rendered":"Ascom board advances Ostool buyout"},"content":{"rendered":"<section id=\"707872\" 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=\"707872\">\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\/06\/04\/egx-rolls-out-new-rules-for-index-tracking-investment-funds\/\">\r\n                            EGX tightens rules for index funds as industry surges                        <\/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\/06\/04\/egx-rolls-out-new-rules-for-index-tracking-investment-funds\/\" 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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Also, the non-oil private sector contracted for a fifth straight month in May, marked by a historic surge in selling-price inflation as businesses pass their mounting costs onto consumers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But pleasant news comes from the EGX<\/strong>, which eked out a 1.73% gain last month. However, the real momentum has rotated down-market to smaller caps. Also to watch at the bourse: it introduced a strict six-month launch timeline for new index-tracking funds.<\/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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">Index fund countdown begins<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>The EGX rolled out new<\/strong><strong> rules for investment <\/strong><strong>funds tracking its indices<\/strong>, effective Tuesday, 2 June, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707568.pdf\" style=\"\">bourse f<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707568.pdf\" style=\"\">iling (pdf)<\/a>. Fund managers are now required to be official EGX member firms licensed by the Financial Regulatory Authority (FRA). Managers of existing index-tracking funds who do not hold membership are being given a six-month grace period to comply.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new framew<\/strong><strong>ork also adds a ticking clock to product launches.<\/strong> Funds now have a maximum of six months to close their subscription rounds and issue certificates after receiving preliminary EGX approval. If they fail to meet the deadline or submit misleading data, the initial approval is automatically voided, and the exchange will formally notify the applicant and the FRA within 48 hours of the cancellation. Applicants must also commit in writing to paying the index licensing fee before approval is granted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThere is genuine demand from retail investors for index tracking<\/strong>,\u201d Thndr Chief Equity Strategist Amr El Alfy tells EnterpriseAM, pointing to massive interest in funds tracking the EGX100, EGX70, and the recently introduced EGX30 Capped. With retail investors accounting for more than three-quarters of market trading volume, the equity market\u2019s strong run over the past period has meaningfully accelerated appetite for these products, El Alfy argues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The new rules arrive amid explosive growth in the broader <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/03\/egypts-investment-fund-industry-hit-egp-411-bn-in-1q-2026-up-30-in-a-quarter\/\" style=\"\">investment fund<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/03\/egypts-investment-fund-industry-hit-egp-411-bn-in-1q-2026-up-30-in-a-quarter\/\" style=\"\">industry<\/a>, which jumped 30% in 1Q 2026 to hit an overall net asset value of EGP 411 bn. However, index funds still represent a tiny fraction of that market, holding just EGP 243.7 mn in net asset value, despite returning a solid 7.54% during the quarter.<\/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\">CBE steps out, SFE steps in<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The Sovereign Fund of Egypt (SFE) plans to take a <\/strong><strong>10-20% stake in two new industrial investment funds with targete<\/strong><strong>d capital of EGP 5 bn<\/strong>, the <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/134667\/%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D9%8A%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%83%D8%A9-%D9%81%D9%8A-%D8%B5%D9%86%D8%AF%D9%88%D9%82%D9%8A%D9%86-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D9%8A\/\" style=\"\">Arabic press<\/a> reports, citing unnamed government officials. Launched with CI Capital and Cairo Capital, the funds will target scalable, export-driven manufacturers. Prospectuses are heading to the Financial Regulatory Authority this month for a September rollout \u2014 a slight delay from the initial <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/cabinet-seeks-private-capital-to-fuel-industrial-growth\/?utm_source=chatgpt.com\" style=\"\">July tar<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/02\/cabinet-seeks-private-capital-to-fuel-industrial-growth\/?utm_source=chatgpt.com\" style=\"\">get<\/a>. The move provides a firm timeline for the broader pipeline announced in March, which will ultimately see the SFE partner with five major investment banks on a suite of debt and equity vehicles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Manufacturers have been squeezed by borrowing costs north of 30% after subsidized central bank lending initiatives were rolled back under IMF pressure. By using the SFE to de-risk investments and crowd in private capital, the government is shifting industrial growth from a fiscal burden to a capital market play. This also aligns with the government\u2019s goal to divert liquidity away from safe havens \u2014 like real estate and gold \u2014 into productive sectors. The state aims to raise the industrial sector\u2019s GDP contribution to 20% and double industrial jobs to 7 mn by 2030.<\/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 4.6 bn \u2014 that\u2019s Egypt\u2019s trade deficit for March<\/strong>, marking a 48.8% y-o-y surge, according to Capmas\u2019 latest monthly <a target=\"_blank\" href=\"https:\/\/www.capmas.gov.eg\/mediaLanding\/news\/3473\" style=\"\">foreign trade report<\/a>. The widening gap was driven by a 17.8% y-o-y spike in imports to USD 9.3 bn, heavily fueled by ballooning energy and food bills \u2014 crude petroleum imports soared 90.4%, wheat jumped 41.9%, petroleum products rose 16.7%, and natural gas climbed 16.6%. This import surge completely overwhelmed a minor 2.5% y-o-y retreat in exports, which landed at USD 4.6 bn.<\/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>If you were traveling to Kuwait today,<\/strong> <strong>your trip may have been canceled.<\/strong> EgyptAir suspended flights to and from Kuwait yesterday and today, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EGYPTAIR\/posts\/pfbid0XJe9WFuwnzienCwaazChSv6bkeFwG8hhUpz22dJWjK2sqVrcPKui5NL3TCKc6xRzl\" style=\"\">citing<\/a> regional developments, after an Iranian attack targeted Kuwait International Airport. The airline says the suspension is temporary and urged passengers to check their bookings and contact customer service for the latest updates. The government condemned the attack, which the Foreign Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0iTAXi3wjjsc6EhyeVGr3hvKPL5AAiCazHzWXioX2sETeJy3fBrtJFS42dcm35Bg4l\" style=\"\">said<\/a> caused injuries and serious damage to airport facilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s very hot and sunny in Cairo today, with the capital looking at a high of 38\u00b0C and a low of 24\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 little cooler in Alexandria<\/strong>, which is in for a high of 30\u00b0C and a low of 19\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over the weekend<\/strong>, expect to see similar conditions in the capital (a high of 36-37\u00b0C) and a cooler 32\u00b0C for our friends on the Mediterranean.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a slew of <\/strong><strong>updates on the regional conflict. <\/strong>A Republican-controlled US House of Representatives has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6fbbc60c-155c-42a7-81b6-50e24e0bb706?syn-25a6b1a6=1\" style=\"\">voted to block<\/a> President Donald Trump from launching further strikes on Iran unless congressional approval is obtained. This is the House\u2019s fourth attempt to curb Trump\u2019s military actions and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cj6pldg39deo\" style=\"\">still requires<\/a> approval from the Senate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is headway being made?<\/strong> Trump <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/03\/trump-iran-war-nuclear-weapon.html\" style=\"\">has said<\/a> that Tehran has \u201calready agreed\u201d not to have nuclear weapons, adding that it can still change its mind. Iran\u2019s Foreign Ministry declined to weigh in while an unnamed government source said the president\u2019s comments were misleading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More strikes: <\/strong>Kuwait International Airport was <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/hostilities-flare-iran-war-oil-jumps-with-talks-stalemate-2026-06-03\/\" style=\"\">targeted<\/a> yesterday in a strike that injured several people and forced flight cancellations. While regime-affiliated media reported that Iranian authorities have denied responsibility and blamed US interceptor rockets, the US military rejected those claims. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Lebanon and Israel have <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.state.gov\/releases\/office-of-the-spokesperson\/2026\/06\/joint-statement-of-the-united-states-of-america-republic-of-lebanon-and-state-of-israel-on-the-latest-high-level-trilateral-meeting\/\" style=\"\">agreed to a ceasefire<\/a><\/strong><strong>. <\/strong>The truce \u2014 brokered by Washington \u2014 is contingent on a complete halt to Hezbollah fire and the total evacuation of its operatives from the South Litani Sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Uber is reportedly <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/ubers-commitment-self-driving-startup-nuro-is-close-500-mln-sources-say-2026-06-03\/\" style=\"\">plugging some USD 500 mn<\/a><\/strong><strong> into Nuro, a self-driving <\/strong><strong>startup. <\/strong>The startup \u2014 backed by Nvidia and Soft Bank \u2014 aims to license its software to carmakers and is expected to launch later this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SpaceX\u2019s IPO isn\u2019t the only offering making headlines: <\/strong>Anthropic has <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/anthropic-said-to-pick-morgan-stanley-goldman-sachs-to-lead-ipo\" style=\"\">reportedly tapped<\/a> Morgan Stanley and Goldman Sachs to lead its highly-anticipated IPO this year, which could take place as early as October.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"707874 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=\"707874\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/707874\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707874\" class=\"content-area-description single-story post-707874 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/somabay.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1482.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:700;\">Where the grass court season begins.<\/span><\/p>\n<p><span style=\"font-weight:400;\">From 8-14 June 2026, Somabay will host one of the region\u2019s first professional grass court tournaments as part of the ITF World Tennis Tour, welcoming international players to the Red Sea for a week of world-class competition.<\/span><\/p>\n<p><span>Set within the Soma Sports Arena, the tournament reflects Somabay\u2019s continued rise as a leading destination for global sports events.<\/span><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"707875\" 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=\"707875\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool\/\">\r\n                            The exit clears                        <\/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\/06\/04\/ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool\/\" 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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wp-post-image\" alt=\"\" data-attachment-id=\"707876\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/ascom-board-approves-fair-value-study-to-buy-90-of-rayas-ostool\/303-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/303.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"303.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/303.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/303.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707875\" class=\"content-area-description single-story post-707875 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma tag-ma-watch tag-ostool tag-raya tag-raya-holding 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>Ascom\u2019s board of directors approved a fair value <\/strong><strong>study to acquire a 90% stake in Raya Holding\u2019s Ostool <\/strong><strong>Transport and Logistics<\/strong>, bringing Qalaa Holdings\u2019 mining arm one step closer to executing <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/18\/raya-zeroes-in-on-ostool-exit\/\" style=\"\">the EGP 641 mn buyout<\/a>, according to two EGX filings (<a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707563.pdf\" style=\"\">here, pdf<\/a> and <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707564.pdf\" style=\"\">here, pdf<\/a>). The board greenlit the purchase of nearly 77.9 mn shares, offering EGP 8.22 apiece \u2014 a 30.5% premium over the EGP 6.3 <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707565.pdf\" style=\"\">fair value (pdf)<\/a> set by independent financial advisor Fact.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>This is Raya\u2019s latest attempt to exit the land logistics sector after a previous agreement to sell the unit to Paradigm Logistics, which <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/raya-holding-to-up-its-stake-in-ostool-to-90\/\" style=\"\">collapsed in 2022<\/a> after the buyer failed to transfer funds. Raya then reversed course in late 2023, consolidating its ownership in Ostool to 90% before Ascom submitted its initial buyout offer <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/25\/ascom-is-looking-to-take-over-raya-holdings-90-stake-in-ostool\/\" style=\"\">in June 2025<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A full-circle moment:<\/strong> Founded in 2010 as a joint venture between Raya and Qalaa, Ostool is essentially returning home. The firm \u2014 which provides fleet and transport services to industrial, energy, and construction players \u2014 will slide back under Qalaa\u2019s umbrella following a six-year divestment orbit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next steps? <\/strong>Both Ascom and Raya\u2019s shareholders will likely still need to sign off before the parties can move forward with the actual ownership transfer and any remaining regulatory approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MARKET <\/strong><strong>REAX-<\/strong> Raya\u2019s stock closed down 0.13% yesterday at EGP 7.47, while Ascom gained 14.1% to EGP 57.1. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Fact served as the independent financial advisor for the fair value study, which was audited and signed off by Zarrouk & El Salawy.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ostool\/\">Ostool<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya\/\">Raya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1276.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1276.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707878\" class=\"content-area-description single-story post-707878 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The EGX30 added 1.73% in May to close the month at <\/strong><strong>roughly 52.7k points<\/strong>, according to the bourse\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/706801.pdf\" style=\"\">monthly report (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/706801.pdf\" style=\"\">)<\/a> \u2014 a far cry from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/06\/egx30-erases-march-losses-with-14-2-april-surge\/\" style=\"\">April\u2019s 14.2% surge<\/a> but still a solid showing since the month was shortened by four trading sessions for Eid El Adha. Total market cap climbed 2.48% to EGP 3.76 tn. Broader indices outperformed the blue-chip benchmark by a wide margin, with the EGX70 gaining 4.44% and the EGX100 rising 4.52%, suggesting the rally that started in large caps in April is working its way down the market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ZOOMING OUT- The mild pickup is a relative outperformance.<\/strong> Regional markets finished May ankle-deep in the red, with TASI dipping roughly 1%, the ADX sliding 0.8%, and the DFM shedding roughly 0.1% of its value during the month, due to renewed geopolitical tensions, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707596.pdf\" style=\"\">report (pdf)<\/a> by Kamco Invest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stocks accounted for 11%<\/strong><strong> of main market turnover<\/strong>, slightly higher than April\u2019s 8.4% equity share but not unusual, and the remaining 89% dominated by bonds and T-bills.<\/p>\n<p class=\"tag-border-left\">Why the cool-off<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>April\u2019s outsized gain was always going to be a tough act to follow<\/strong>, especially because its two main engines weren\u2019t available for a repeat. \u201cWe didn\u2019t see a continuation of the EGP depreciation; it was sort of range-bound, going up a little and down a little,\u201d CI Capital managing director and head of research Monsef Morsy tells EnterpriseAM. The FX repricing dynamic that lifted stocks broadly in April (a pattern Morsy says played out consistently across multiple cycles over the past five to seven years) simply wasn\u2019t in play last month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The liquidity picture also shifted. <\/strong>A significant chunk of the one-year CDs that matured through February, March, and April found its way into equities during April\u2019s rally. \u201cA big part of that liquidity already got deployed into the stock market during April,\u201d Morsy says. \u201cThis is the main reason for not seeing the same strong performance in May,\u201d he adds, noting that \u201cwe didn't see much happening on these specific points.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Playing catch-up<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX70 and EGX100 beating the EGX30 by more than 250 basis points is pure market <\/strong><strong>mechanics. <\/strong>\u201cBecause we initially saw strong performance from the larger caps in April, a rotation into the smaller names naturally followed,\u201d Morsy tells us. \u201cWhatever stocks caught up in May from the smaller caps were just catching up with what happened with the larger caps,\u201d he says. \u201cI wouldn\u2019t say this is driven by fundamentals whatsoever,\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\">What moved the needle?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors piled into travel, trade, and real estate stocks<\/strong><strong>. <\/strong>Travel and leisure led gains (+20.6%), followed by trade and distributors (+9.3%), and real estate (+9.1%), marking the second straight month that travel and real estate rank among the EGX\u2019s top three performers. At the other end, basic resources fell 5%, food and beverages slid 1.9%, and industrial goods edged down 0.1%. Banks, which Morsy flagged in April as the re-rating trade to watch, etched out a 0.6% gain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The travel and leisure sector benefits structurally from FX exposure<\/strong> \u2014 all these companies are positively correlated to CY moves, Morsy notes, which still matters in an environment where some investors are pricing in the possibility of further depreciation at some point. The numbers back up what industry executives <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/03\/investors-dump-regional-travel-stocks-as-images-of-burning-hotels-hit-the-front-pages\/\" style=\"\">told us in March<\/a>: Egypt's travel and tourism sectors have largely avoided the fallout from the Iran war, with disruption mostly limited to GCC travelers facing flight cancellations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong> one-off gain may also be behind the move.<\/strong> Egyptian For Tourism Resorts (ERC) closed the period up 50%, making it one of the sharpest single-stock moves on the main market in May. This coincided with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/egyptian-resorts-companys-board-defeats-attempt-to-unseat-it\/\" style=\"\">a court ruling<\/a> that blocked an attempt to unseat the company\u2019s board and a separate international arbitration award ordering the return of Sahl Hasheesh land plots to ERC\u2019s inventory, which tightened the company\u2019s grip on one of Egypt\u2019s largest coastal tourism land banks.<\/p>\n<p><strong>Real estate\u2019s 9.1% advance wasn\u2019t a sector-wide deployment either.<\/strong> \u201cA couple of developments are happening for the leading companies on the stock market, like TMG and Palm Hills,\u201d Morsy says. TMG closed up 2% at EGP 96, while Palm Hills surged 33.5% to EGP 15.17 \u2014 the latter\u2019s Ras El Hekma project developments are among the proximate catalysts Morsy cites. Both stocks ranked among the top three by value traded on the main market for the month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The thesis on banks\u2019 re-rating remains intact but untriggered.<\/strong> \u201cSometimes the re-rating takes time because there is no immediate, imminent catalyst for the stocks or the sector,\u201d Morsy says. The fundamental case is as strong as it\u2019s been (earnings visibility, margin resilience, strong 1Q results) but short-term triggers are absent. The clearest one Morsy can point to: any positive surprise on the regional front that sees the market begin to price in interest rate cuts \u2014 \u201cthat will serve as a strong catalyst for the re-rating of banking stocks,\u201d he 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\"> The foreign selling<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local institutions led the rally with purchases of EGP 2.8 b<\/strong><strong>n <\/strong><strong>(excluding block trades)<\/strong>, while regional institutions dumped shares worth EGP 2.4 bn, and foreign institutions sold EGP 2.8 bn in EGX-listed stocks. Local (EGP 2.5 bn) and foreign (EGP 25 mn) retail investors recorded net purchases. Regional individual investors were net sellers to the tune of EGP 147 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On profittaking + a live test of Egypt\u2019s repatriation mechanics: <\/strong>Two things are happening at the same time here, Morsy says. First, non-Egyptian investors who are sitting on gains from April and early May are taking gains while they can. Second, and more telling: \u201cUsually, non-Egyptian investors, especially in periods where there are concerns or question marks on the overall FX market, tend to test the market. They want to see if they want to sell, does the repatriation of funds happen easily? Do they get their money right away from banks?\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rest assured. The domestic picture, in Morsy\u2019s read, is materially better than the foreign <\/strong><strong>selling implies. <\/strong>Inflation dynamics are contained, the energy sector is stable with no talk of shortages, and FX is holding. \u201cAll of this gives a positive sentiment and message on the domestic front,\u201d he says. \u201cEventually, this will reflect on foreign and Arab investor appetite going forward, as long as there is no further escalation on the regional front.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The new player on the board <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Korra<\/strong><strong> Energi was the only company to IPO in May<\/strong>, the second one this year following Gourmet\u2019s blockbuster debut. The energy solutions firm\u2019s retail subscription closed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/01\/korra-energi-retail-tranche-closes-31-35x-oversubscribed\/\" style=\"\">31.35x oversubscribed<\/a> before the Eid El Adha break, after its institutional offering was <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/korra-energi-private-placement-5-7x-covered-on-egx\/\" style=\"\">5.7x covered<\/a>. Korra, which is floating <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/18\/korra-energi-opens-the-subscription-window-for-highly-anticipated-ipo\/\" style=\"\">an 11% stake<\/a>, is expected to hit the EGX trading floor in the coming weeks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>May also brought six new listings. <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/06\/egypt-education-platform-files-to-list-199-4-mn-shares-on-the-egx\/\" style=\"\">Egypt Education Platform<\/a> listed on 6 May with 199.4 mn shares at a par value of EGP 10. Chemical Industries Development, El Nasr Co. for Fertilizers and Chemical Industries, the Egyptian General Company for Tourism and Hotels, and Misr Travel <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/17\/four-new-temporary-listings-head-to-the-egx\/\" style=\"\">all listed on 14 May<\/a>. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/cbe-expected-to-hold-interest-rates-today-for-second-consecutive-meeting\/\" style=\"\">OG Capital for Investments<\/a> listed on 19 May as a special purpose acquisition company \u2014 a relatively rare structure on the EGX. <\/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 brokerage league table<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In May<\/strong>, Thndr topped the <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707253.pdf\" style=\"\">monthly table (pdf)<\/a> with a 15.4% market share, beating EFG Hermes\u2019s two brokerage arms (a combined 14.3%) and Mubasher (6.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, EFG\u2019s two brokerage arms dominated the YTD picture <\/strong>with a combined market share of 15.7%, ahead of Thndr (13.5%) and Mubasher (6.6%), according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/707254.pdf\" style=\"\">YTD ranking (pdf)<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"707880\" 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=\"707880\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/our-domestic-savings-rate-fell-to-1-2-of-gdp-in-fy-2024-25-from-6-1\/\">\r\n                            The unavailable luxury                        <\/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\/06\/04\/our-domestic-savings-rate-fell-to-1-2-of-gdp-in-fy-2024-25-from-6-1\/\" 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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This puts Egypt\u2019s savings rate at a fraction of what high-growth emerging markets typically need to fund investment-led growth, according to a recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/276.pdf\" style=\"\">policy brief (pdf)<\/a> from the Institute of National Planning (INP) and data from the Planning Ministry. In absolute terms, gross domestic savings fell to EGP 218 bn from EGP 848 bn the year before. Emerging economies typically require savings rates of 20-30% of GDP to strongly support investment, veteran banker and EG Bank board member Mohamed Abdel Aal tells EnterpriseAM.<\/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\">Nothing left to save<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not a lack of financial discipline, but a lack of disposable income. <\/strong>\u201cThe drop in savings in Egypt is not due to a lack of planning for the future, but rather because the cost of the present has exceeded people\u2019s capacity to endure,\u201d banking veteran and Alraya Consulting and Training Managing Partner Hany Aboul Fotouh tells us. \u201cA large portion of families no longer have anything left to save in the first place.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation has done the work.<\/strong> Egypt\u2019s inflation cycle peaked at 33.9% in 2023 and has since moderated \u2014 Aboul Fotouh references <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/inflation-unexpectedly-cools-putting-rate-cut-cycle-back-in-play\/\" style=\"\">April\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/inflation-unexpectedly-cools-putting-rate-cut-cycle-back-in-play\/\" style=\"\">reading of 14.9%<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/inflation-unexpectedly-cools-putting-rate-cut-cycle-back-in-play\/\" style=\"\"><\/a> \u2014 but extended price pressure and repeated currency devaluations have compounded into a sustained erosion of household purchasing power, the INP brief notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abdel Aal makes the same point: each round of price increases in food, energy, and services shrinks the disposable income available for saving.<\/strong> Aboul Fotouh frames the shift more starkly: \u201cSaving shifted from an investment decision into an unavailable luxury. Many families are simply struggling to get through the month with the minimum possible losses.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Filling the gap<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The behavioral shift is structural. <\/strong>As inflation has run, the rapid expansion of buy-now-pay-later platforms, consumer finance products, and installment-based purchasing has weakened traditional savings behavior, the INP brief argues. Abdel Aal says the proliferation of installment-purchase apps and digital financing services has created a consumption pattern more reliant on borrowing than on saving.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When prices rise persistently, delaying a purchase becomes riskier than financing it. <\/strong>\u201cYounger generations have become closer to the idea of \u2018buy now, pay later\u2019,\u201d Aboul Fotouh says. \u201cWhen the cost of goods rises continuously, delaying a purchase becomes riskier than buying on installment, because people fear tomorrow\u2019s prices more than today\u2019s installments.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The macroeconomic implication is significant.<\/strong> Economic analyst Ahmed Shawky frames it as a structural risk: \u201cThe excessive expansion of consumer finance could shift the economy from a savings-and-investment economy to a debt-funded consumption economy. This will lead to a lower marginal propensity to save, an increase in current consumption at the expense of the future, a rise in non-productive consumer demand, and increased inflationary pressures. Of course, this represents a significant challenge for a country that needs to raise investment rates and increase domestic savings to finance growth.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">A mismatch<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The macro picture doesn\u2019t match the household picture, and this disconnect explains why positive macro numbers feel detached from the on-the-ground reality. <\/strong>Real GDP grew at <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/cbe-keeps-easing-cycle-on-ice-as-regional-conflict-clouds-inflation-path\/\" style=\"\">5.0% in 1Q 2026<\/a> and unemployment has <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/30\/unemployment-rate-cools-to-6-3-in-2025-as-egypts-labor-force-expands\/\" style=\"\">fallen to 6.3% in 2025<\/a>, but the country\u2019s PMI recorded 47.1 in May \u2014 well below the 50 mark that separates expansion from contraction \u2014 and industrial production fell 2.0%. \u201cThis means the economy is still facing difficulties in generating a broad productive expansion capable of generating stable and real incomes sufficient for both consumption and savings together,\u201d Aboul Fotouh tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Why it matters, and what could fix it<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shrinking domestic savings means rising reliance on foreign capital.<\/strong> \u201cThe economy can withstand a temporary decline in savings, but it cannot rely over the long term on external financing, hot money, and foreign debt to compensate for weak domestic savings,\u201d Aboul Fotouh says. Two other structural factors compound the problem: roughly 69% of bank credit is currently directed toward financing the fiscal deficit, limiting funding available for productive private-sector investment, according to the INP, and over 60% of Egyptians remain outside the formal banking system, weakening long-term savings channels like postal funds and pensions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abdel Aal argues the banking sector has acted as a buffer rather than a cause of the savings decline<\/strong>, pointing to high-yield CDs that helped preserve part of savers\u2019 purchasing power during the inflation shock. The catch is structural: high interest rates can only encourage saving when households have income left over after meeting basic needs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The INP\u2019s policy prescription is broad<\/strong>, including explicit national savings targets, fiscal consolidation, preserving positive real interest rates, tighter oversight of consumer finance, expanding lending to productive sectors, modernizing pension and postal savings systems, broadening financial inclusion, and launching retail sovereign debt instruments aimed at attracting household savings. Several of these are already in motion \u2014 the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/19\/cbe-tightens-oversight-on-nbfis-banking-amid-debate\/\" style=\"\">CBE\u2019s recent NBFI tightening<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/19\/cbe-tightens-oversight-on-nbfis-banking-amid-debate\/\" style=\"\"><\/a> addresses the consumer-finance oversight piece, and the IMF program is driving the fiscal consolidation \u2014 but the household-income side of the equation remains the binding constraint.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recovery depends on confidence, not rates.<\/strong> \u201cFamilies do not return to saving only when interest rates rise, but when they regain confidence that their income will retain its value for a reasonable period,\u201d Aboul Fotouh tells us. The numbers to watch over the next four quarters are real wages, BNPL portfolio growth, the next CBE financial inclusion update, and whether the FY 2025\/26 savings rate stabilizes.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary 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=\"707882 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=\"707882\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/707882\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707882\" class=\"content-area-description single-story post-707882 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:\/\/estudio.enterpriseam.com\/ifc-50-year-anniversary\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1293.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"707883\" 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=\"707883\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/non-oil-pmi-ticks-up-to-47-1-in-may-but-selling-price-inflation-surges\/\">\r\n                            Restraint runs out                        <\/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\/06\/04\/non-oil-pmi-ticks-up-to-47-1-in-may-but-selling-price-inflation-surges\/\" 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 headline PMI reading nudged up to 47.1 from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/06\/non-oil-pmi-hits-three-year-low-as-input-costs-spike-to-early-2023-highs\/\" style=\"\">April's 37-month low of 46.6<\/a> \u2014 a fifth straight month below the 50.0 growth threshold.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The input cost picture got worse, not better.<\/strong> Prices surged at their fastest pace since January 2023 on more expensive diesel and electricity, a weaker EGP, and the sharpest wage pressures since early 2018. Nearly half of all surveyed businesses reported rising costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe principal move was an historic surge in selling charges, with the rate of output price inflation reaching its second-highest in the survey's history<\/strong>,\u201d Owen notes. New orders fell for the fifth straight month as inflation-wary customers kept their wallets shut. Output shrank sharply in wholesale, retail, and services, with only manufacturing and construction showing slight signs of a rebound.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms are bracing for more. <\/strong>Companies are hoarding inventories at the fastest rate in almost three years as a hedge against future price hikes. Supply chain disruptions also lengthened delivery times at the fastest pace in nearly four years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jobs are the casualty.<\/strong> Firms shed positions at the fastest pace since June 2020, actively laying off workers and leaving vacant roles unfilled.<\/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 reading points to a softer 2Q 2026 GDP figure, with the Middle East conflict likely to depress near-term expansion, Owen says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Business confidence jumped to its highest level since August 2024, with firms banking on an end to regional disruptions to improve broader conditions and stabilize the EGP.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp\/\">S&amp;P<\/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=\"707885\" 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=\"707885\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/fra-taps-rehab-taha-to-lead-nbfi-supervision-and-oversight\/\">\r\n                            New oversight at FRA\u2019s NBFI division                        <\/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\/06\/04\/fra-taps-rehab-taha-to-lead-nbfi-supervision-and-oversight\/\" 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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It also coincides with the FRA\u2019s efforts to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/fra-names-and-shames-nbfi-violators\/\" style=\"\">place violators under intense regulatory scrutiny<\/a> by establishing a centralized registry for individuals and companies breaching regulations to boost transparency and mitigate systemic risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>\u201cAs the market evolves, it is only natural for regulatory policies to evolve alongside it and for new leadership to be brought in to build on ongoing reform efforts,\u201d financial analyst Ahmed Ezz El-Din tells EnterpriseAM, noting that Taha\u2019s leadership in developing the FRA\u2019s Basel III solvency standards makes her a natural fit. \u201cThe timing is particularly notable, as it coincides with the previously announced implementation phase of these standards, making the appointment a natural extension of the authority\u2019s long-term reform and development strategy.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A veteran regulator with deep policy experience: <\/strong>Taha has served as advisor to the FRA chairman for research and development since June 2019. She has played a central role in shaping legislative frameworks, drafting futures contracts trading rules, leading the Basel III financial solvency taskforce, and contributing to the FRA\u2019s 2023\/2026 strategy. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nbfis\/\">NBFIs<\/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=\"707887 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=\"707887\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/707887\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707887\" class=\"content-area-description single-story post-707887 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\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=\"707888\" 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=\"707888\">\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\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/\">\r\n                            USD 165 mn to keep the planes coming                        <\/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\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/\" 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\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/')\">\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\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/\">\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=Tourism Ministry ups charter flight incentives to USD 165 mn&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/\">\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\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/&title=Tourism Ministry ups charter flight incentives to USD 165 mn\">\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=Tourism+Ministry+ups+charter+flight+incentives+to+USD+165+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F04%2Ftourism-ministry-ups-charter-flight-incentives-to-usd-165-mn%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\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/305.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"707889\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/tourism-ministry-ups-charter-flight-incentives-to-usd-165-mn\/305-jpg-74\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/305.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"305.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/305.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/305.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707888\" class=\"content-area-description single-story post-707888 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-china tag-enterpriseam tag-tourism tag-tourism-ministry tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Tourism Ministry is allocating USD 165 mn to its <\/strong><strong>charter flight incentive <\/strong><strong>program in FY 2026\/27 <\/strong>\u2014 a 6.4% increase from the current FY, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2026\/06\/03\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D9%81%D8%B9-%D8%AA%D8%AD%D9%81%D9%8A%D8%B2-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A7%D9%84%D8%B9%D8%A7%D8%B1%D8%B6-%D8%A7%D9%84%D9%89-165-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D9%88%D8%A7%D9%81%D8%AF%D8%A9\" style=\"\">Al Arabiya<\/a> reports, citing unnamed sources. The bump is a direct response to rising jet fuel prices, with the ministry looking to encourage airlines to operate more flights to Egyptian tourist routes. The program covers most major resort gateways, including Red Sea airports, Sharm El Sheikh, Taba, Luxor, Aswan, Borg El Arab, and Alamein.<\/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 charter flight incentive program delivered a USD 66.5 return on investment for every USD spent in 1Q 2026. This helped drive a 43.5% y-o-y surge in total tourist arrivals to 5.6 mn for the quarter, Tourism Minister Sherif Fathi said <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/05\/oil-ministry-quintuples-lng-allocations-to-heavy-industry\/\" style=\"\">last month<\/a>. The government is layering these subsidies with an exceptional <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/en\/media-center\/news\/cabinet-approves-incentive-package-for-airlines-in-egypt\/\" style=\"\">three-month package<\/a> of reduced ground handling and service fees at Hurghada and Sharm El Sheikh airports to boost summer flight capacities. Private capital is also moving in to capture demand, with local tourism giant <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/11\/travco-targets-4q-launch-for-new-private-airline\/\" style=\"\">Travco<\/a> planning to launch a charter airline in 4Q.<\/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\">Doubling down on the Beijing hedge<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of Egypt and its Chinese counterpart renewed <\/strong><strong>their <\/strong><strong>currency swap agreement for another three years<\/strong>, expanding the ceiling to CNY 30 bn (c. EGP 230 bn) from CNY 18 bn, China\u2019s <a target=\"_blank\" href=\"https:\/\/english.news.cn\/20260603\/82e1be78f65e4501866d8db7daa41dbf\/c.html\" style=\"\">Xinhua<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Every CNY-settled transaction with China is a USD that stays in the CBE\u2019s reserves. The expanded swap offers short-term liquidity relief and a longer-term hedge, especially as Egypt absorbs the twin hit of collapsing Suez Canal revenues and volatile capital flows from the regional war. Foreign Minister Abdelatty had signaled interest in doubling the swap\u2019s value <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/15\/foreign-investors-end-13-day-selling-streak-with-usd-1-bn-in-secondary-market-purchases\/\" style=\"\">earlier this year<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/286.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"286.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/286.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/286.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707890\" class=\"content-area-description single-story post-707890 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-economy tag-enterpriseam tag-financial-markets tag-interest-rates tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Signs that the global economy is suffering from the fallout of the US-Iran war are <\/strong><strong>growing<\/strong>, with the OECD saying in its <a target=\"_blank\" href=\"https:\/\/www.oecd.org\/en\/about\/news\/press-releases\/2026\/06\/global-economic-outlook-weakens-amid-energy-shock-and-rising-inflationary-pressures.html\" style=\"\">latest outlook<\/a> that the global economy could face its worst slowdown in 40 years outside of the pandemic and the 2009 financial crisis if geopolitical tensions and disruptions continue into next year.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Under a prolonged disruption scenario, OECD expects global growth to come in at 2.1% in 2026 and 1.8% in 2027<\/strong> \u2014 a significant downgrade from its earlier projection of 3.1% growth next year. It also expects several economies to potentially tip into recession if disruptions persist. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The energy shock is doing most of the damage.<\/strong> Crude oil prices rose more than 50% in the weeks following the outbreak of fighting, with gas prices spiking sharply across Europe and Asia and distillates \u2014 including jet fuel and diesel \u2014 surging alongside them.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global inflation could be 0.4 percentage points higher this year and 1.3 points higher in 2027 <\/strong>in a prolonged disruption scenario. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the same time<\/strong>, mns are at risk of losing their jobs in the EU, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/eu-risks-losing-more-than-1-million-jobs-over-global-pressures\" style=\"\">Bloomberg<\/a> reports. As many as 560k jobs could be cut this year due to the energy costs, while 600k jobs are already under pressure in the automotive industry.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All of these data points are putting policymakers between a rock and a hard place. <\/strong>OECD expects some rate hikes this year, followed by rate cuts next year, in its scenario where the conflict resolves soon. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The developing world is already acting fast<\/strong> despite the difficult balancing act of reining in inflation while preventing economic harm. At least 10 emerging- and frontier-market central banks have raised rates since fighting began in late February, including Indonesia, Rwanda, South Africa, and Sri Lanka, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-03\/emerging-markets-lead-rate-hikes-as-iran-war-stokes-inflation\" style=\"\">Bloomberg<\/a> reported elsewhere. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As for the US Federal Reserve, some Fed policymakers are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/feds-hammack-eyes-tighter-policy-if-inflation-doesnt-abate-2026-06-02\/\" style=\"\">pushing for rate increases<\/a><\/strong>, saying they might be necessary to rein in mounting inflation. The Fed is widely expected to leave its benchmark interest rate in the 3.50-3.75% range at its policy meeting in two weeks, but some traders are <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/19\/fed-to-hike-when-traders-see-a-rate-increase-coming.html\" style=\"\">already placing a more than 60% chance<\/a> that a rate hike could come in July. <\/p><p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong>sian markets open<\/strong><strong>ed lower<\/strong>, tracking losses felt across Wall Street a day earlier as a fresh wave of attacks across the Middle East spooked investors. South Korea\u2019s Kospi is down some 2%, while Japan\u2019s Nikkei is looking at losses of 1.8%. The Shanghai Composite and Hang Seng are also in the red. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">52,564<\/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: +25.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 51.88<\/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 52.02<\/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><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 51.87<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 51.97<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,002<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,582<\/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: -4.1%)<\/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>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\">5,686<\/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: -6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,554<\/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: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,332<\/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: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,054<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 97.18<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.24<\/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%<\/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 4,481<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 65,284<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.2% (YTD: -25.5%)<\/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>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\">1,050<\/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: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">152.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">16.06<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.8% (YTD: +7.4%)<\/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> fell 0.7% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 9.8 bn (21% above the 90-day average). Local investors were the sole net buyers. The index is up 25.7% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Kima (+3.4%), Arabian Cement (+2.6%), and Ibnsina Pharma (+2.1%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Heliopolis Housing (-3.1%), Beltone Holding (-2.5%), and E-Finance (-2.0%).<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"707892\" 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=\"707892\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/04\/my-morning-routine-youssef-el-tawil-managing-director-of-scandinavian-timber-trade\/\">\r\n                            My Morning Routine: Youssef El Tawil, managing director of Scandinavian Timber Trade                        <\/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\/06\/04\/my-morning-routine-youssef-el-tawil-managing-director-of-scandinavian-timber-trade\/\" 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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Speaking to us this week is STT Managing Director Youssef El Tawil (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/youssef-eltawil-9a0943122\/\" style=\"\">LinkedIn<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m Youssef El Tawil, managing director of STT, a timber export house. <\/strong>We buy wholesale directly from Scandinavian and European sawmills and sell to construction and industrial buyers across the Middle East and North Africa. Our family business started in 1988, when my father founded El Tawil as a commercial agent \u2014 essentially representing sawmills to customers and taking a cut on the trade. In 2013, he founded STT as a full shift in our business model: we moved from being agents to being actual traders, buying directly from sawmills, holding our own stock, and selling straight to end customers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I started working with my father in 2016 while still at university<\/strong>, spending summers in Sweden learning the trade from one of our suppliers, <a target=\"_blank\" href=\"https:\/\/polkky.com\/\" style=\"\">Polkky<\/a>. I became fully employed in 2017 and officially took over STT in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is our biggest market \u2014 it\u2019s one of the largest consumers of wood in the world, but it doesn\u2019t produce any locally. <\/strong>Our job is to bridge that gap and make raw material available for construction and industrial uses there, along with our other major markets \u2014 Saudi Arabia, Tunisia, Palestine, and Morocco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most interesting fact about my industry is how strict the sustainability rules are, especially in Sweden and Finland. <\/strong>It isn\u2019t a passing trend; it\u2019s a way of life. When they cut down one tree, they\u2019re legally required to plant three. Seeing how carefully the forests are managed is easily my favorite part of the business.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest challenge right now is shipping.<\/strong> Because of the volatile events in the region, shipping rates and terms fluctuate daily. We\u2019ll wake up to sudden USD 300 fuel surcharges per container, or have prices double overnight under \u201cwar risk\u201d clauses for destinations like Jeddah. It makes long-term planning impossible \u2014 I have to price and evaluate transactions day by day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wake up between 7-7:30am every day; if I don\u2019t wake up early, my entire day is ruined.<\/strong> I start with breakfast and a massive cup of coffee, then open the news, switching between CNN and Al Jazeera to catch up on what I missed while sleeping. After becoming a father, I\u2019ve adjusted my routine to spend an hour playing with my son before heading out. I\u2019m at my desk at 9am sharp. When I\u2019m in Sweden, which is at least three to four months of the year, I head in earlier and hit the office by 8am.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The constants in my day are coffee and praying at least once<\/strong><strong>, and then I strictly time-block my rest of the day. <\/strong>Between 9am and 12pm, it\u2019s entirely \u201csupplier time\u201d \u2014 I\u2019m on the phone with our vendors and sawmills in Sweden and Finland, checking stock levels, getting market updates, and preparing purchase offers. In our industry, the power lies entirely with the suppliers, so maintaining those relationships is critical. From 12pm until 5pm, I switch to the sales side \u2014 customer calls, meetings, and heavy documentation. I stay focused by being a pen-and-paper person; I\u2019m not someone who can think on the spot, so I have to organize my thinking beforehand. Every morning, I open a fresh page in my notebook, write the date, and outline everything in numbered bullet points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Professionally, my next big leap is mastering delegation.<\/strong> I\u2019ve realized that a great leader shouldn\u2019t be afraid to hire people better than them. Right now I\u2019m stretched thin doing purchases, sales, and overseeing operations. My goal is to build an executive team \u2014 a dedicated operations manager and a sales manager \u2014 even if it means giving up equity or offering aggressive performance-linked structures. That would let me step out of the day-to-day and focus on the purchase side, where supplier relationships matter most.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I don\u2019t believe work-life balance is as easy as people make it out to be.<\/strong> It depends entirely on your ambitions. Right now mine are big, so I\u2019m admittedly bad at balance and don\u2019t give my family as much time as I should. I\u2019m aiming for my 50s to be when I can finally turn off the motor, delegate heavily, and enjoy financial freedom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When I do switch off, I\u2019ve become a total stay-at-home person. <\/strong>The older I get, the more I appreciate low-pressure environments. I want to sit at home with my family or hang out with a few close friends. To mentally unwind, I\u2019d highly recommend watching Matthew McConaughey\u2019s Oscar acceptance speech about chasing your future self \u2014 it\u2019s an incredible reminder of how to keep your priorities aligned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best advice I\u2019ve ever received comes from two places.<\/strong> One is a proverb I keep as a permanent state of mind: \u201cThis too shall pass.\u201d It gets me through any crisis. The other is an old Arabic philosophy passed down by my father: \u201cDo good and throw it into the sea.\u201d It completely anchors how I treat people and how I conduct business.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"707894\" 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\/06\/04\/707894\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-707894\" class=\"content-area-description single-story post-707894 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;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Tuesday): June 30 Revolution.<\/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): 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): Prophet Muhammad\u2019s birthday.<\/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;\">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.<\/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\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>Savings rate collapses | EGX rally rotates down-market | Non-oil PMI ticks 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