{"id":708849,"date":"2026-06-09T00:00:00","date_gmt":"2026-06-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=708849"},"modified":"2026-06-09T02:47:49","modified_gmt":"2026-06-09T02:47:49","slug":"alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/","title":{"rendered":"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit"},"content":{"rendered":"<section id=\"708851\" 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=\"708851\">\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\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/\">\r\n                            EGX to launch single-stock futures for CIB and TMG                        <\/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\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/\" 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\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/')\">\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\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/\">\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=EGX rolls out single-stock futures on blue-chips CIB and TMG&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/\">\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\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/&title=EGX rolls out single-stock futures on blue-chips CIB and TMG\">\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=EGX+rolls+out+single-stock+futures+on+blue-chips+CIB+and+TMG+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Fegx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg%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\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/782.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708852\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/egx-rolls-out-single-stock-futures-on-blue-chips-cib-and-tmg\/782-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/782.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"782.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/782.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/782.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708851\" class=\"content-area-description single-story post-708851 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today-10 tag-cib tag-egx tag-enterpriseam tag-talaat-moustafa-group tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, all. <\/strong>We lead today\u2019s issue with a much welcomed privatization update \u2014 the UAE\u2019s Alcazar Energy has taken over the management and operation of Gabal El Zeit wind farm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- <\/strong>MNT-Halan secured the first close of a strategic investment round, which pushed its valuation to USD 1.4 bn; the Finance Ministry plans to secure EGP 900 bn in additional revenue from income tax amendments currently with the House; and the EGX will soon launch single-stock futures.<\/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\">Introducing single-stock futures<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>Investors <\/strong><strong>will soon be able to trade futures on blue chips CIB and TMG. <\/strong>The EGX is rolling out single-stock futures contracts on two of its most liquid names \u2014 the Commercial International Bank (CIB) and Talaat Mostafa Group (TMG) \u2014 starting Thursday 18 June, according to a <a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/ar\/NewsDetails.aspx?NewsID=289560\" style=\"\">statement<\/a> by the bourse. Contracts will come in three- and six-month maturities, with a standard size of 100 shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One more tool in the box:<\/strong> Single-stock futures, which let investors speculate on or hedge against price moves in individual stocks without owning them, are the next step in a phased rollout that will eventually include EGX70 derivatives and options.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the pipeline: <\/strong>The EGX wants to diversify \u201ccontracts across different market segments to support the continued development of a balanced derivatives market,\u201d Khaled Amer, CEO of the EGX\u2019s futures clearing arm Tasweyat, tells EnterpriseAM, though he cautioned that timing will depend on demand, trading activity, and broader market development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> EGX30 index futures \u2014 Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/01\/egx-kicks-off-first-day-of-futures-trading-on-the-egx\/\" style=\"\">first-ever derivatives product<\/a> \u2014 launched in early March into a regional market rattled by the outbreak of the Iran war \u2014 a less-than-ideal backdrop for a new instrument trying to find its footing. While volumes remain thin, the rollout was arguably the single biggest upgrade to the EGX\u2019s architecture in a decade, making the bourse \u201cmore investable for bigger players,\u201d Evolve Investment Holding CEO Sameh Al Torgman told EnterpriseAM at the time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A silver lining:<\/strong> With regional geopolitical tensions still running high, the hedging case for derivatives is arguably stronger than ever. \u201cSome investors might use [the futures market] to express their fears regarding the market,\u201d Al Ahly Pharos Head of Research Hany Genena told EnterpriseAM right when the conflict began, a read that is still relevant today as US-Iran talks remain deadlocked. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why CIB and TMG are the obvious choices: <\/strong>The two names account for an outsized share of EGX liquidity. CIB was the single most-traded stock on the exchange in May at EGP 10.4 bn (6.6% of total listed stock turnover), with TMG close behind at EGP 9.7 bn (6.3%), according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/706801.pdf\" style=\"\">EGX report (pdf)<\/a>. Together, just two tickers out of 200-plus pulled nearly 13% of all listed stock trading value last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also a strategic logic to the pairing: <\/strong>\u201cAn investor looking to gain exposure to the other 28 stocks in the index could go long on the EGX30 and go short on these two specific stocks in varying proportions, effectively allowing them to hedge or bet on those remaining 28 stocks,\u201d Amr El Alfy, head of equities at Thndr, tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- Single-stock futures broaden the appeal beyond index-level players. <\/strong>They \u201cprovide a more direct and precise tool for expressing views on specific companies, hedging individual stock positions, and implementing a wider range of trading and portfolio management strategies,\u201d Amer 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\">Laying tracks in Dammam<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>Hassan Allam<\/strong><strong> Saudi arm lands new railway contract:<\/strong> Hassan Allam Construction Saudi, a subsidiary of Hassan Allam Holding, and OHL Arabia secured a contract to build a new 22.7 km freight railway connection for the Dammam 2nd Industrial City from Saudi Arabia Railways, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/510.pdf\" style=\"\">press release (pdf)<\/a>. The OHL-HACS JV will execute the full scope of civil and railway works for the single-track line.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown- <\/strong>The project links the city \u2014 one of Saudi Arabia\u2019s largest manufacturing and industrial zones in the Eastern Province \u2014 to the <a target=\"_blank\" href=\"https:\/\/www.meed.com\/sar-tenders-dammam-industrial-city-railway-connection\" style=\"\">existing 556 km Dammam-Riyadh<\/a> freight railway, known as the East Train Network. The announcement did not disclose the total ticket size or the project timelines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/halliburton-to-bring-four-wells-online-by-december-plus-news-from-medcom-aswan-fra-q-developments\/\" style=\"\">As we\u2019ve previously reported<\/a>, Hassan Allam is rapidly building a transit backlog outside the Egyptian market, adding the Dammam freight line to its ongoing work on Riyadh\u2019s King Abdullah Financial District monorail and the <a target=\"_blank\" href=\"https:\/\/press.siemens.com\/global\/en\/pressrelease\/siemens-mobility-together-hassan-allam-construction-wins-signaling-contract-uae-oman\" style=\"\">UAE-Oman Hafeet Rail<\/a>.<\/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\">Localizing desalination<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi <\/strong><strong>renewables heavyweight Acwa Power plans to build a local factory in partnership with an unnamed membrane manufacturer<\/strong>, aligning with Egypt\u2019s push to localize its desalination supply chain, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0FSL8f2EsJQPqDRgbwETdrDV1KnHcaoxQB5GR2VNPgTjN6btgGZnRAWk1zsJvgJjJl\" style=\"\">readout<\/a> following a meeting between company officials and Prime Minister Mostafa Madbouly. The Saudi player has also thrown its name in the hat for several desalination projects offered up by the Housing Ministry. The effort dovetails into the Madbouly government\u2019s commitment to raise desalination output from 1.8 mn cbm per day to 10 mn cbm per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more:<\/strong> Acwa Power also plans to set up a local training center to develop Egyptian expertise in membrane manufacturing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>During last year\u2019s talks with Acwa Power regarding upcoming projects, Madbouly <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/26\/remittances-recorded-usd-3-5-bn-in-august\/\" style=\"\">emphasized<\/a> that localizing component manufacturing is now a strict requirement for companies seeking to build desalination plants in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>EnterpriseAM recently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/22\/acwa-power-egypt-country-director-hassan-amin-on-why-desalination-is-about-a-whole-lot-more-than-addressing-water-scarcity\/\" style=\"\">sat down<\/a> with Acwa Power Egypt Country Director Hassan Amin to discuss Egypt\u2019s desalination potential, the declining costs associated with it, and how it can be cheaper than pumped water.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>USD 14.3 bn \u2014 that\u2019s the total volume of invested capital currently <\/strong><strong>deployed across the country\u2019s freezones<\/strong>, funding around 1.3k active projects, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/%D9%81%D9%8A-%D8%AE%D8%B7%D9%88%D8%A9-%D9%87%D8%A7%D9%85%D8%A9-%D9%86%D8%AD%D9%88-%D8%AC%D8%B0%D8%A8-%D8%A7%D9%84%D9%85%D8%B2%D9%8A%D8%AF-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%88%D8%AA%D9%87%D9%8A%D8%A6%D8%A9-%D8%A8%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%AA%D9%88%D8%B3%D8%B9%D8%AA-%D9%85%D8%B5%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D9%86\/1579473217556426\/\" style=\"\">statement<\/a>.<\/p>\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\"><a id=\"wwtt3\"><\/a> <strong>We have a long weekend to look forward to: <\/strong>The public sector will be taking Thursday, 18 June off in observance of the Islamic New Year, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02NdWgwE4t5ej3cJgvUYeGSaJYMpX6WtiZpGdvHLbREBy9dMtDdp2Wsq8ZcnAm4Lv7l\" style=\"\">prime ministerial decision<\/a>. We will be on the look out for similar statements from the Labor Ministry, the EGX, and the central bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>The capital is in for another sunny day with a high of 37\u00b0C and a low of 23\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 breezier in Alexandria<\/strong>, with a high of 29\u00b0C and a low of 21\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/498.jpeg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">You\u2019ve spent decades building wealth, and the question now isn\u2019t how to make money \u2014 it\u2019s how to make sure it survives you, works across borders, and doesn\u2019t quietly erode while you\u2019re not looking. The rules have changed. Egyptian real estate, once a near-guaranteed store of value, is competing with markets in Greece, Spain, and Dubai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Whether it\u2019s art as an asset, crowd-funding, or the tax implications quietly stacking up behind that second passport, the toolkit for serious capital deployment has expanded faster than most conventional advice \u2014 or most advisors \u2014 have.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In Issue 3 of <strong>EnterpriseAM Money Matters<\/strong>, we cover the decisions that matter most when you\u2019re at the stage where capital preservation is just as important as capital growth \u2014 and where getting it wrong is no longer something you can simply recover from.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Coming straight to your inbox \u2014 Wednesday, 10 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p 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>Regional tensi<\/strong><strong>ons have eased after Iran and Israel <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-08\/iran-and-israel-exchange-missile-attacks-imperiling-peace-talks?srnd=homepage-middle-east\" style=\"\">said<\/a><\/strong><strong> attacks will stop for now<\/strong>, but both countries warned that they are ready to launch retaliatory attacks if provoked. Israeli Prime Minister Benjamin Netanyahu <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/iran-us-ceasefire-hezbollah-israel-c16dc4917512f7436a3921a4b044b98b\" style=\"\">said<\/a> that Tel Aviv\u2019s operations against Iranian-backed Hezbollah will continue.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SpaceX\u2019s upcoming IPO continues to make headlines<\/strong>, becoming <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-08\/spacex-ipo-is-said-to-be-well-oversubscribed-orders-close-wed\" style=\"\">heavily oversubscribed<\/a> as institutional investors place USD 10 bn worth of orders. The IPO is set to price on 11 June and start trading the following session. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another anticipated IPO is making waves: <\/strong>OpenAI has <a target=\"_blank\" href=\"https:\/\/openai.com\/index\/openai-submits-confidential-s-1\/\" style=\"\">confidentially filed<\/a> for an IPO with the Securities and Exchange Commission. The company is yet to decide on a timetable for the listing, but unnamed sources have said the company could go public as soon as this fall. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Introducing Siri AI: <\/strong>Apple has <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/28205edf-baeb-4b97-a89d-e9f4838ff6ff?syn-25a6b1a6=1\" style=\"\">unveiled<\/a> a new phase for its voice assistant Siri, overhauling the program with AI, steering it closer to chatbots like OpenAI\u2019s ChatGPT or Anthropic\u2019s Claude. The tech giant says its commitment to privacy and data protection is key in differentiating its AI offerings from its rivals. A beta version will be available next month before a full launch in the fall.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, in Washington: <\/strong>A judge <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2ab284d9-eb38-4b42-b01a-2b375a08c1b0\" style=\"\">has ruled<\/a> as unlawful an attempt by the Trump administration to levy a USD 100k fee on H-1B visa applications \u2014 widely used by tech companies and specialized industries to hire foreign workers. The Department of Justice is expected to appeal the decision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese firms in the hot seat: <\/strong>The Pentagon <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-08\/pentagon-accuses-alibaba-baidu-byd-of-aiding-china-s-military\" style=\"\">has accused<\/a> three Chinese firms \u2014 Alibaba Group, BYD, and Baidu \u2014 of aiding China\u2019s armed forces. The companies have been listed as \u201cChinese military companies\u201d that pose a national security risk to the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/239.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue: <\/strong>We dive into the country\u2019s first commercial-scale agrivoltaics pilot to see if the dual-use model of sharing land for crops and solar power can survive local market conditions.<\/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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/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=\"708853 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=\"708853\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/708853\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708853\" class=\"content-area-description single-story post-708853 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\/6\/517.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">The horizon is expanding.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Introducing GranMarina, a new waterfront destination that opens the door to new experiences, new connections, and a new way to experience life by the sea.<\/span><\/p>\n<p><span style=\"font-weight:400;\">A landmark addition to Somabay and a new chapter in the story of the destination, marking a significant milestone in the continued evolution of the destination.<\/span><\/p>\n<p><span>Coming soon.<\/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=\"708854\" 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=\"708854\">\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\">Privatization Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\">\r\n                            Privatization catches a second wind                        <\/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\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\" 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\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/')\">\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\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\">\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=Alcazar locks in USD 420 mn deal to manage Gabal El Zeit&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\">\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\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/&title=Alcazar locks in USD 420 mn deal to manage Gabal El Zeit\">\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=Alcazar+locks+in+USD+420+mn+deal+to+manage+Gabal+El+Zeit+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Falcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit%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\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/536.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708855\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/536-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/536.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"536.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/536.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/536.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708854\" class=\"content-area-description single-story post-708854 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch-2 tag-alcazar-energy tag-enterpriseam tag-privatization-watch tag-renewables tag-wind-power 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;text-align: left\"><strong>It\u2019s o<\/strong><strong>fficial: Alcazar has taken over Gabal El Zeit. <\/strong>UAE-based Alcazar Energy has inked a USD 420 mn agreement to operate, manage, maintain, and upgrade the 580 MW Gabal El Zeit wind farm, according to a Cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ndwdATqYDoLqLspkyHhHknCGvW1PaHAG734mESoPE2vjyyGJpWF8N1xeM6yWrHR3l\" target=\"_blank\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Upgrades are coming: <\/strong>Under the agreement with with the New and Renewable Energy Authority, Alcazar will handle all renovation and efficiency upgrades to boost production capacity, maintaining a minimum output of 580 MW. The Egyptian Electricity Transmission Company will off-take all energy generated throughout the duration of the contract under a power purchase agreement inked between the two sides.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>One big step for our privatization ambitions: <\/strong>The transaction gives a big boost toward reaching our privatization targets for the coming few years and keeps the privatization wheel spinning after <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/08\/banque-du-caires-ipo-has-been-delayed-again-with-roadshows-pushed-to-september\/\" target=\"_blank\" rel=\"noopener\">sources told us<\/a> that the long-awaited Banque du Caire IPO has been pushed back yet again.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>While the statement announcing the agreement was light on details<\/strong>, we were <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/09\/egypt-signals-an-end-to-fire-sales-with-usd-420-mn-gabal-el-zeit-exit\/\" target=\"_blank\" rel=\"noopener\">previously told<\/a> that the cost of electricity produced by Alcazar will be denominated in USD but settled in EGP at the prevailing exchange rate \u2014 a move that will shield the developer from currency volatility.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Better late than never:<\/strong> We first caught wind of the takeover in February, when a government source told EnterpriseAM that the acquisition would wrap up later that month at a price exceeding USD 420 mn. Weeks later, we were told that the acquisition would be finalized in March.<\/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\/alcazar-energy\/\">Alcazar Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wind-power\/\">wind power<\/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=\"708856\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7gfkqpl\" data-v=\"4\" data-block-id=\"7gfkqpl\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7gfkqpl-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7gfkqpl-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-h7jm4co\" data-v=\"4\" data-block-id=\"h7jm4co\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-h7jm4co-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-h7jm4co-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ir842v1\" data-v=\"4\" data-block-id=\"ir842v1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ir842v1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ir842v1-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-zjlfhij\" data-v=\"4\" data-block-id=\"zjlfhij\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-zjlfhij-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-zjlfhij-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"708857\" 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=\"708857\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/\">\r\n                            Banking on fintech                        <\/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\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/\" 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\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/')\">\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\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/\">\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=MNT-Halan hits USD 1.4 bn valuation following Al Ahly Capital-led funding round&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/\">\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\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/&title=MNT-Halan hits USD 1.4 bn valuation following Al Ahly Capital-led funding round\">\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=MNT-Halan+hits+USD+1.4+bn+valuation+following+Al+Ahly+Capital-led+funding+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Fmnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round%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\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708858\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/mnt-halan-hits-usd-1-4-bn-valuation-following-al-ahly-capital-led-funding-round\/2566-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2566.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708857\" class=\"content-area-description single-story post-708857 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-al-ahly-capital tag-enterpriseam tag-fintech tag-investment-watch tag-ma-watch tag-mnt-halan tag-national-bank-of-egypt 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>Local fintech unicorn MNT-Halan reached a USD 1.4 bn valuation after securing the first close of a strategic investm<\/strong><strong>ent round led by Al Ahly Capital Holding<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/508.pdf\" style=\"\">company stateme<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/508.pdf\" style=\"\">nt (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/508.pdf\" style=\"\">)<\/a>. Al Ahly Capital \u2014 the investment arm of the National Bank of Egypt (NBE) with over USD 2.5 bn in assets under management \u2014 did not disclose the size of the investment or the stake acquired. A second close is currently in the works as part of the ongoing round.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money is going:<\/strong> The company will channel the bulk of the proceeds into expanding its Egypt business, targeting SMEs and historically underserved populations in remote towns and villages. The funds will also back the company\u2019s ongoing regional growth plans, including into new markets across the Gulf region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Banks have long funded non-banking financial institutions (NBFIs), and now the NBE is directly buying into one. While MNT-Halan has worked with over 30 Egyptian banks and financing institutions, this is the first time a commercial bank has become an equity partner, MNT-Halan founder and chairman Mounir Nakhla says in the statement. We will be closely watching to see if other lenders follow suit, especially after the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/19\/cbe-tightens-oversight-on-nbfis-banking-amid-debate\/\" style=\"\">CBE tightened oversight over how banks fund NBFIs<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> The transaction comes as <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/19\/cbe-tightens-oversight-on-nbfis-banking-amid-debate\/\" style=\"\">consumer finance volumes<\/a> climbed 57% y-o-y to EGP 96.3 bn by end-2025, while financing to MSMEs and microfinance clients rose 24% to EGP 106.9 bn. For MNT-Halan, the latest round follows a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/21\/mnt-halan-raises-usd-157-7-mn-from-international-investors\/\" style=\"\">USD 157.7 mn<\/a> raise in July 2024 that was earmarked for its international expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MNT-Halan says it has provided more than USD 15.5 bn in financing since launch<\/strong>, serving over 8 mn customers globally with a comprehensive NBFI and e-wallet license stack. The company\u2019s regional expansion accelerated in 2024 after it acquired <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/mnt-halan-snaps-up-struggling-pakistani-microfinance-bank\/\" style=\"\">Advans Pakistan Microfinance Bank<\/a> and Turkish commercial finance company <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/28\/fintech-leader-mnt-halan-expands-into-turkey-with-acquisition-of-tam-finans\/\" style=\"\">Tam Finans<\/a>. It also launched <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/hub71-launches-angel-investor-support-package\/\" style=\"\">Halan Advance<\/a> in the UAE in late 2024 to target the country\u2019s underbanked expatriate community.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Matouk Bassiouny & Hennawy acted as counsel, and Al Ahly Pharos served as financial advisor to MNT-Halan. Meanwhile, Van Campen Liem acted as counsel to Al Ahly Capital, and Baker Tilly served as its financial and tax advisor.<\/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\/al-ahly-capital\/\">Al Ahly Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/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\/mnt-halan\/\">MNT-Halan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"708859\" 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=\"708859\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/\">\r\n                            Carrots, sticks, and EGP 900 bn                        <\/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\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/\" 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\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/')\">\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\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/\">\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=FinMin\u2019s finalizes draft tax reforms targeting EGP 900 bn revenue boost&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/\">\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\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/&title=FinMin\u2019s finalizes draft tax reforms targeting EGP 900 bn revenue boost\">\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=FinMin%E2%80%99s+finalizes+draft+tax+reforms+targeting+EGP+900+bn+revenue+boost+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Ffinmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost%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\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708860\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/finmins-finalizes-draft-tax-reforms-targeting-egp-900-bn-revenue-boost\/1760-jpg-67\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1760.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1760.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708859\" class=\"content-area-description single-story post-708859 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterpriseam tag-finance-ministry tag-legislation tag-tax 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 Finance Ministry<\/strong><strong> finalized draft income tax amendments aiming to add EGP 900 bn to state revenues in FY 20<\/strong><strong>26\/27<\/strong>, according to three government officials and a draft law seen by EnterpriseAM. The bill attempts to encourage EGX listings and infrastructure financing by easing the tax burden on businesses and investors while simultaneously tightening rules around delisting and pulling daily market activity into the stamp tax net.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The draft law scraps the long-delayed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/new-tax-bill-heads-to-house-ahead-of-july-rollout\/?utm_source=chatgpt.com\" style=\"\">capital gains tax<\/a><\/strong><strong> on EGX-listed shares<\/strong>, replacing it with a stamp tax. However, as an anti-evasion measure, capital gains will still be taxed at 10% if a transaction results in a company being delisted from the bourse. The draft also drops all capital gains tax claims on listed securities dating back to June 2023 to avoid a legislative gap during which there was no law governing the tax.<\/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 new carrot for IPOs <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Confirming our report <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/26\/new-tax-breaks-aim-to-revive-egx-listing-appetite\/\" style=\"\">from March<\/a><\/strong><strong>,<\/strong><strong> companies that float on the EGX will receive a <\/strong><strong>15% deduction from income tax due<\/strong><strong> for three years. <\/strong>This simplifies the tiered scheme we <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/10\/new-tax-bill-heads-to-house-ahead-of-july-rollout\/\" style=\"\">reported on in May<\/a> \u2014 which offered a 30% reduction in year one, 20% in year two, and 10% in year three \u2014 by opting for a straight 15% average instead.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Companies must either have a fair-value market cap of at least EGP 50 bn (floating at least 20% of shares) or offer shares worth at least EGP 10 bn to qualify<\/strong><strong>.<\/strong> The measure should encourage large companies to list on the EGX and generate wider economic returns for the state, Egyptian Tax Authority advisor Ragab Mahrous tells EnterpriseAM. The incentive would be granted only once during a company\u2019s lifetime, though the finance minister could extend it for another three-year period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You heard it here first:<\/strong> A senior government official <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/26\/new-tax-breaks-aim-to-revive-egx-listing-appetite\/\" style=\"\">told us in March<\/a> that the Finance Ministry was preparing a new incentive scheme that will offer tiered corporate income tax reductions over three years to companies that list on the EGX. The incentive will benefit both private and public companies, which should improve the runway for the state-owned enterprises that the government is looking to list or exit as part of its plan to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/18\/egypt-eyes-usd-3-4-bn-by-year-end-in-renewed-post-eid-privatization-push\/\" style=\"\">generate USD 3-4 bn in divestment revenues<\/a> by year-end.<\/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\">Borrowing relief and better tax math<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When selling unlisted securities, taxpayers will be allowed to add the equivalent of the CBE\u2019s credit and discount rate <\/strong>\u2014 currently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/cbe-keeps-easing-cycle-on-ice-as-regional-conflict-clouds-inflation-path\/\" style=\"\">standing at 19.50%<\/a> \u2014 to their acquisition cost for every year they hold the shares. This mechanism accounts for inflation, reduces the final taxable gain, and encourages shareholders to disclose the true value of their transactions, Mahrous notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Holding companies get dividend relief:<\/strong> Resident holding companies will be fully exempt from taxes on dividends received from both resident and non-resident subsidiaries. To qualify, the parent company must own at least 25% of the subsidiary\u2019s capital or voting rights and have held that stake (or commit to holding it) for at least two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public and private Egyptian companies contributing to national infrastructure projects will be exempt from the tax cap on deducting interest paid on loans and credit facilities.<\/strong> Eligibility will be determined by a prime ministerial decree, and the exemption will expire once the project\u2019s core loans mature. This should make it easier for companies working on national infrastructure projects to secure financing from international financial institutions, Mahrous 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\">A clean up job<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The draft applies a unified 2.5% tax rate to multiple property disposals, entirely exempting property transfers between first-degree relatives. <\/strong>It also makes writing off bad debt easier by setting a EGP 5k threshold per debt that is exempt from the usual regulatory collection procedures. As we heard <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/24\/finmin-to-introduce-33-step-tax-reform-package-end-arbitrary-tax-assessments\/\" style=\"\">in March<\/a>, the draft also cancels the practice of arbitrary tax assessments, removing a long-running source of uncertainty for businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The package is meant to pay for itself:<\/strong> The Finance Ministry is targeting <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/16\/finmin-targets-a-28-jump-in-tax-revenues-for-fy-2026-27\/\" style=\"\">EGP 3.5 tn<\/a> in total tax revenues in the coming fiscal year, with a medium-term target of EGP 5.5 tn. The EGP 900 bn in newly targeted receipts will be driven largely by the proportional EGX stamp tax. Additional revenues will be generated by a 0.25 per mille tax on same-day trading, increasing the Finance Ministry\u2019s share of state-owned company income (expected to yield EGP 37.5-42 bn) and implementing higher departure fees (expected to generate EGP 30 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> The tax amendments are currently before the House, as the government pushes to secure parliamentary approval ahead of a planned July rollout.<\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"708861\" 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=\"708861\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/valmore-holding-names-shady-makary-as-cfo\/\">\r\n                            Valmore taps Shady Makary as CFO                        <\/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\/09\/valmore-holding-names-shady-makary-as-cfo\/\" 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\/09\/valmore-holding-names-shady-makary-as-cfo\/')\">\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\/09\/valmore-holding-names-shady-makary-as-cfo\/\">\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=Valmore Holding names Shady Makary as CFO&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/valmore-holding-names-shady-makary-as-cfo\/\">\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\/09\/valmore-holding-names-shady-makary-as-cfo\/&title=Valmore Holding names Shady Makary as CFO\">\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=Valmore+Holding+names+Shady+Makary+as+CFO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Fvalmore-holding-names-shady-makary-as-cfo%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\/09\/valmore-holding-names-shady-makary-as-cfo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/520.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708862\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/valmore-holding-names-shady-makary-as-cfo\/520-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/520.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"520.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/520.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/520.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708861\" class=\"content-area-description single-story post-708861 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-moves tag-valmore-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>Valmore Holding appointed Shady Makary <\/strong><strong>(<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/shady-makary-8b65506\/\" style=\"\">LinkedIn<\/a><\/strong><strong>) as chief <\/strong><strong>financial<\/strong><strong> officer<\/strong>, according to a company statement seen by EnterpriseAM. Makary brings over 25 years of corporate finance and operational leadership across MENA and Asia to the role, and his mandate will focus on optimizing financial performance and strengthening internal controls. He joins from B.Tech, where he served as group CFO. Prior to that, he held regional leadership roles at Danone Dairy and Unilever.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A broader C-suite shakeup:<\/strong> Makary\u2019s appointment follows the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/05\/valmore-holding-names-moataz-kandil-as-cio-hani-shehata-as-coo\/\" style=\"\">recent naming<\/a> of Moataz Kandil as CIO and Hani Shehata as COO to lead Valmore\u2019s ongoing executive transformation. The leadership overhaul aligns with the company\u2019s rebrand last year and its push to derisk its structural exposure to the EGP. CEO Jon Rokk <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/09\/egypt-kuwait-holdings-jon-rokk-on-why-sector-and-geographic-diversity-are-key-parts-of-the-companys-future\/\" style=\"\">previously told us<\/a> the group is expanding into overseas markets where it can replicate its existing operating expertise.<\/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\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valmore-holding\/\">Valmore Holding<\/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=\"708863 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=\"708863\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/708863\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708863\" class=\"content-area-description single-story post-708863 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=\"708864\" 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=\"708864\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/\">\r\n                            Safaga 2 terminal begins trial operations                        <\/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\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/\" 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\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/')\">\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\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/\">\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=Trial operations kick off at AD Ports\u2019 Safaga 2 terminal&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/\">\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\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/&title=Trial operations kick off at AD Ports\u2019 Safaga 2 terminal\">\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=Trial+operations+kick+off+at+AD+Ports%E2%80%99+Safaga+2+terminal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Ftrial-operations-kick-off-at-ad-ports-safaga-2-terminal%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\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/538.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708865\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/538-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/538.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"538.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/538.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/538.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708864\" class=\"content-area-description single-story post-708864 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ai tag-also-on-our-radar tag-automotive tag-central-bank-of-egypt tag-enterpriseam tag-infrastructure tag-logistics tag-manufacturing 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 Transport Ministry began trial operations yesterday <\/strong><strong>at the Safaga 2 <\/strong><strong>multi-purpose terminal<\/strong>, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/2117853\/%D8%A8%D8%AF%D8%A1-%D8%A7%D9%84%D8%AA%D8%B4%D8%BA%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D8%AC%D8%B1%D9%8A%D8%A8%D9%8A-%D9%84%D9%85%D8%AD%D8%B7%D8%A9-%C2%AB%D8%B3%D9%81%D8%A7%D8%AC%D8%A7-2%C2%BB-%D8%A8%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/\" style=\"\">Al Mal<\/a> reports, citing unnamed sources. The UAE\u2019s AD Ports Group \u2014 which <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/19\/ad-ports-taps-hassan-allam-construction-for-safaga-terminal-infrastructure\/\" style=\"\">tapped Hassan Allam Construction<\/a> for infrastructure works \u2014 completed phase one of the superstructure, with a total investment of USD 200 mn. The terminal is Upper Egypt\u2019s first internationally operated port and contractually requires AD Ports to handle 500k containers annually during its first five years.<\/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 terminal gives Safaga more muscle at a time when the port is becoming a more important node in the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/shippers-weigh-long-term-case-for-europe-egypt-gcc-road-leg\/\" style=\"\">Europe-Egypt-GCC corridor<\/a> \u2014 cargo can land at Mediterranean ports, move overland to Safaga, and cross by ferry into Saudi Arabia and Gulf markets.<\/p>\n<p class=\"tag-border-left\">Magnite made in Egypt<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nissan rolled out the first Africa-made Nissan Magnite from its Sixth <\/strong><strong>of<\/strong><strong> October factory<\/strong>, according to a Cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%8A%D8%B4%D9%87%D8%AF-%D9%85%D8%B1%D8%A7%D8%B3%D9%85-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A3%D9%88%D9%84-%D8%B3%D9%8A%D8%A7%D8%B1%D8%A9-%D9%86%D9%8A%D8%B3%D8%A7%D9%86-%D9%85%D8%A7%D8%AC%D9%86%D9%8A%D8%AA-nissan-magnite-%D9%81%D9%8A-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7-%D8%AF\/1586138940223187\/\" style=\"\">statement<\/a>. The model is made with up to 55% local content and is the automaker\u2019s third locally assembled model. Nissan plans to export 7k of the 17k Magnite units it produces annually. The rollout follows Nissan\u2019s USD 45 mn investment pledged in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/05\/nissan-egypt-to-invest-usd-45-mn-in-new-locally-assembled-model\/\" style=\"\">December 2024<\/a> to upgrade its local passenger-car assembly lines.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The rollout aligns with the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/17\/industry-ministry-pushes-for-100k-vehicles-a-year-and-60-local-content-in-an-auto-industry-reboot\/\" style=\"\">Automotive Industry Development<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/17\/industry-ministry-pushes-for-100k-vehicles-a-year-and-60-local-content-in-an-auto-industry-reboot\/\" style=\"\">Program<\/a>, which targets 100k vehicles annually with 60% local content. For Nissan, the Egypt plant is its only passenger-vehicle manufacturing base in Africa after it sold its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/how-egypt-became-the-top-destination-for-automotive-investment-in-the-middle-east\/\" style=\"\">South Africa factory<\/a> earlier this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Kuwaiti deposit stays<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait rolled over its USD 2 bn deposit at the Central Bank of <\/strong><strong>Egypt <\/strong><strong>for an additional year after it matured in April<\/strong>, the <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/135634\/%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA-%D8%AA%D8%AC%D8%AF%D8%AF-%D9%88%D8%AF%D9%8A%D8%B9%D8%A9-%D8%A8%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AF%D9%89-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A\/\" style=\"\">Arabic<\/a><a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/135634\/%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA-%D8%AA%D8%AC%D8%AF%D8%AF-%D9%88%D8%AF%D9%8A%D8%B9%D8%A9-%D8%A8%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D9%8A-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%AF%D9%89-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A\/\" style=\"\">press<\/a> reports, citing an unnamed CBE official. We heard about the CBE moving to renew the Kuwaiti deposit back <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/09\/central-bank-of-egypt-looks-to-renew-usd-2-bn-kuwaiti-deposit-as-regional-conflict-stalls-fdi-conversions\/\" style=\"\">in April<\/a>, and the confirmation comes as Egypt\u2019s foreign reserves continue their upward trajectory, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/08\/tmg-deepens-saudi-ties-with-new-pif-real-estate-agreement\/\" style=\"\">rising by USD 125 mn in May to USD 53.13 bn<\/a> and extending a record-breaking streak that has lifted reserves by roughly USD 1.68 bn since the start of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Learning about AI \u2014 in Arabic<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local AI education platform Efham.ai secured an undisclosed <\/strong><strong>sum <\/strong><strong>from<\/strong><strong> AI-focused investment firm Foras AI to scale up its Arabic-language tech training<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2026\/06\/efhamai-secures-investment-forasai-democratise-ai-learning-arabic\" style=\"\">Wamda<\/a> reports. The startup will use the fresh capital to launch more than 100 AI training lessons by the end of 3Q 2026 across Egypt, Saudi Arabia, the UAE, Kuwait, Jordan, and other Arab markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making AI accessible:<\/strong> Developed by local tech firm NixAI, Efham.ai aims to build the region\u2019s first community dedicated to learning about AI in Arabic. It delivers its educational content in Egyptian colloquial Arabic to simplify complex technical concepts, helping users apply AI tools for content creation, product development, entrepreneurship, and fundraising.<\/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\">Raising our aircraft fleet <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EgyptAir<\/strong><strong> plans<\/strong><strong> to add 28 new aircraft to its fleet in 2026 and 2027<\/strong> as part of a wider goal of expanding its fleet to 125 planes in the coming years, Civil Aviation Minister Sameh El Hefny <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid08pgAJHVhmvumXRyemnfb2MkWLH873MBpJ3nXg5RteMcw1VkxDDVjfmA26TFigmp9l\" style=\"\">said<\/a> yesterday. The flag carrier currently owns 72 aircraft. AirCairo\u2019s fleet is also set to expand from 42 aircraft to 82 within the next four years, he added.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"708866\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"708866\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/software-dealmaking-is-under-pressure-from-ai\/\">\r\n                            From a favorite to have-not: Software dealmaking is in a rout                        <\/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\/09\/software-dealmaking-is-under-pressure-from-ai\/\" 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\/09\/software-dealmaking-is-under-pressure-from-ai\/')\">\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\/09\/software-dealmaking-is-under-pressure-from-ai\/\">\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=Software dealmaking is under pressure from AI&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/software-dealmaking-is-under-pressure-from-ai\/\">\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\/09\/software-dealmaking-is-under-pressure-from-ai\/&title=Software dealmaking is under pressure from AI\">\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=Software+dealmaking+is+under+pressure+from+AI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F09%2Fsoftware-dealmaking-is-under-pressure-from-ai%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\/09\/software-dealmaking-is-under-pressure-from-ai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/441.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"708867\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/software-dealmaking-is-under-pressure-from-ai\/441-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/441.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"441.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/441.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/441.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708866\" class=\"content-area-description single-story post-708866 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-artificial-intelligence tag-enterpriseam tag-financial-markets tag-planet-finance tag-tech 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>After recording USD 290 bn in buyouts last year \u2014 the highest total in <\/strong><strong>11 <\/strong><strong>years \u2014 software dealmaking has slowed down significantly this year. <\/strong>Activity fell to USD 50 bn in the first five months of 2026, down from USD 88 bn a year earlier and the lowest level for the period since the pandemic, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c7db2d6e-8dec-4de0-9f1c-f73f7e905387?syn-25a6b1a6=1\" style=\"\">Financial Times<\/a> reports.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The retreat isn\u2019t limited to M&amp;A:<\/strong> In the US\u2019s leveraged loan market, software\u2019s share of new issuance has fallen to just 9%, roughly half last year\u2019s level and its lowest share since 2013, according to <a target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/markets\/stocks\/articles\/software-loses-throne-leveraged-loan-154333813.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAALaf1LZwtQh6qzC0iXZy_MshbIaY0xi2opBC2VMdcAEYk-SJssFLoW0gxFKLCr4TiyAA2eDTxQlNdSfl61nrbZr9mMtStzsPTxYhtTISVo7C9AIr_PpXuo6-VRtlLZoHQtLl3_OJ_pQZOJNG-kRxuf5_dCC-gLNqsQivisJrVPm1&amp;_guc_consent_skip=1780912348\" style=\"\">PitchBook<\/a>.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s changed? <\/strong>Fears that AI agents could replace parts of traditional software workflows have left investors struggling to separate winners from losers in the industry. Monthly software transaction value fell from USD 24 bn in January to just USD 5 bn in May after Anthropic\u2019s launch of new AI productivity tools rattled the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That uncertainty is weighing not just on acquisitions, but also on the financing that supports them.<\/strong> Software's share of LBO-related issuance has also fallen, to 17.5% from 34.5% last year \u2014 another sign that lenders and sponsors are becoming more cautious about backing the sector.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The core problem is valuation: <\/strong>\u201cUntil an investor knows what a business may be worth post-AI adoption, it\u2019s impossible for them to make a case to their investment committee,\u201d Arma Partners\u2019 Paul-No\u00ebl Gu\u00e9ly told the salmon-colored paper. <\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That is leaving software as one of the market\u2019s \u201chave-nots<\/strong>,\u201d in the words of PGIM Credit's Engin Okaya, as investors grow more selective about where they deploy capital. Healthcare, by contrast, has overtaken software as the largest source of institutional loan issuance for the first time since 2015, accounting for 14% of volume this year. Investors are showing much more confidence in sectors seen as less exposed to AI disruption, Latham &amp; Watkins' David Walker told the newspaper.<\/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>Asia-Pacific <\/strong><strong>markets rebounded in early trading <\/strong>after Iran and Israel said they would press pause on launching any further attacks against each other. South Korea\u2019s Kospi is up 3.4%, while Japan\u2019s Nikkei is up a more modest 0.8%. The Shanghai Composite is up as well, while the Hang Seng is 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\">51,883<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +24.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CBE)<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 52.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 52.23<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD (CIB<\/strong><strong>) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 52.05<\/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 52.15<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,973<\/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: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,484<\/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\">-1.4% (YTD: -5.1%)<\/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\">5,735<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,406<\/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: +8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">10,373<\/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: +4.5%)<\/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>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\">6,062<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 93.74<\/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\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.15<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0%<\/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>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 4,361<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 63,127<\/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: -27.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1,056<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">151.25<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -0.4%)<\/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>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">18.92<\/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\">-12.0% (YTD: +26.6%)<\/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 fell<\/strong><strong> 0.5% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 11.0 bn (33.0% above the 90-day average). Regional investors were the sole net sellers. The index is up 24.0% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Orascom Investment Holding (+3.7%), GB Corp (+3.1%), and Juhayna (+2.7%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Raya Holding (-3.5%), E-finance (-2.5%), and Emaar Misr (-2.4%).<\/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\/artificial-intelligence\/\">Artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tech\/\">TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"708868\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">8<\/div>\r\n\r\n                        <p class=\"f-graphik\">Going Green<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/\">\r\n                            Crops and kilowatts<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/\" 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\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/')\">\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\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s first commercial-scale agrivoltaics pilot will deliver results in September, but industry players are split on what it will show&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/\">\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\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/&title=Egypt\u2019s first commercial-scale agrivoltaics pilot will deliver results in September, but industry players are split on what it will show\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+first+commercial-scale+agrivoltaics+pilot+will+deliver+results+in+September%2C+but+industry+players+are+split+on+what+it+will+show+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fegypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/525.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"708869\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-first-commercial-scale-agrivoltaics-pilot-will-deliver-results-in-september-but-industry-players-are-split-on-what-it-will-show\/525-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/525.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"525.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/525.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/525.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-708868\" class=\"content-area-description post-708868 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-enterpriseam tag-going-green tag-green-economy tag-renewable-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;text-indent:36pt;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Engazaat is building Egypt\u2019s first commercial-scale <\/strong><strong>agrivoltaics pilot at Nuweiba in South Sinai<\/strong>, backed by EUR 4 mn from the Flanders International Climate Action Programme \u2014 with a Marsa Matrouh follow-up ten times the size already in the pipeline, regional COO Dina Kafafi tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big question:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.3e.eu\/resources\/news\/advancing-agrivoltaics-in-egypt\" style=\"\">Run in partnership<\/a> with Brussels-based energy consultancy 3E, ORG, and the Flemish government, the project will deliver its first indicative results in September and will answer a key question: can agrivoltaics \u2014 solar panels mounted above farmland so crops and electricity share the same plot \u2014 survive Egyptian conditions?<\/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 pilot is the first serious test of an idea Egypt\u2019s policymakers have been bouncing around for years. The country wants to expand agricultural output, reclaim land, and improve food security while running into harder water constraints every year. Agrivoltaics promises to do three things at once \u2014 generate power, shade crops to reduce evaporation, and squeeze more revenue per feddan. IFC modelling suggests dual-use systems can cut water consumption by up to 29%, though the <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/398.pdf\" style=\"\">report (pdf)<\/a> is clear that the figure depends heavily on crop type and system design. The Egyptian-conditions test is what\u2019s missing \u2014 and Nuweiba is the first attempt to fill it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t about needing more solar. <\/strong>Egypt already runs some of the region\u2019s largest solar parks and added 0.7 GW of installed solar capacity in 2025, taking the total to 3.3 GW, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/4\/642.pdf\" style=\"\">IEA report (pdf)<\/a>. The agrivoltaics conversation is about land and water, not MWs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nuweiba site is testing three metrics \u2014 water efficiency, crop productivity, and land-use efficiency \u2014 across three growing seasons<\/strong>, Kafafi tells us. The project will trial a mix of cash crops, fruits, and vegetables, including tomatoes and onions. The Marsa Matrouh follow-up would be among the largest agrivoltaics deployments in the region if it proceeds, she adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The industry is split<\/strong><strong> on whether it can work. <\/strong>\u201cAgrivoltaics is academically compelling, but it sits well outside our commercial reality in Egypt,\u201d Karm Holding CTO Akram Ismail tells us. \u201cThe demand we consistently see from agricultural clients centres on reliable, round-the-clock energy for irrigation and operations, not dual-use solar-crop configurations.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cost stack is Karm\u2019s central argument. <\/strong>Elevated agrivoltaic structures cost <a target=\"_blank\" href=\"https:\/\/www.mordorintelligence.com\/industry-reports\/agrivoltaics-market\" style=\"\">at least 20%<\/a> more than conventional ground-mounted solar, depending on design and crop type. For Egyptian agricultural operators already facing high financing costs, the additional capex is hard to justify. The bigger problem, Ismail says, is what comes before the solar conversation: \u201cIn our operating areas, drilling a single water well costs no less than EGP 12 mn. That capital burden alone breaks the economic case before any conversation about the additional cost of an elevated, specialised agrivoltaic structure begins.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But <\/strong><strong>Kafafi<\/strong><strong> argues that agrivoltaics is being priced against the wrong benchmark.<\/strong> Treating it as a standalone power project misses the point; the value comes from bundling power, water, and land productivity into one infrastructure asset. The economics, she argues, become legible when \u201cthe hedge on renewables becomes a hedge on macroeconomics too, not just power.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The barriers could also be largely institutional:<\/strong> \u201cThe technology economics are favorable, but the governance and finance architecture is the gating issue \u2014 permitting authority, tariff design, taxation of dual streams, and land-tenure protocols for multi-decade contracting,\u201d <a target=\"_blank\" href=\"https:\/\/egyptianagrivoltaicsinitiative.org\/\" style=\"\">Egyptian Agrivoltaics Initiative<\/a> (EAI) founder Zeinab Hafez tells EnterpriseAM, noting that scaling requires inter-ministerial coordination, climate- finance-ready documentation, contracting models for productive farmland, and a well-documented national pilot with verified yield, energy, water, and economic data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EAI is Egypt's first dedicated governance and ESG architecture for true agrivoltaics on<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>productive farmland.<\/strong> The initiative focuses on the institutional side of deployment, including governance protocols, ESG and monitoring frameworks, inter-ministerial coordination models, and land-tenure protocols, Hafez tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Agrivoltaics works on two layers: elevated panels generate electricity above, while crops grow underneath in partial shade. The shading reduces soil evaporation and heat stress on the crops; the crops, in turn, cool the panels \u2014 solar panels lose efficiency as temperatures climb, so shaded ground can lift generation yields. Global capacity sits somewhere between 2.8 GW and 14 GW, the IFC report estimates, with the wide range reflecting how new and under-measured the asset class still is.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> EgyptERA suspended the existing net metering system <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/04\/solar-firms-urge-government-to-halt-scrapping-of-net-metering-system\/\" style=\"\">in late December<\/a> and paused new rules in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/07\/orascom-construction-secures-egp-15-bn-ras-el-hekma-contract\/\" style=\"\">January<\/a> after pushback from solar developers. The framework is still under review. Net metering doesn\u2019t determine whether agrivoltaics works technically, but it does determine whether anyone will pay for it \u2014 and on Ismail\u2019s read, layering agrivoltaics on top of an unresolved net metering regime \u201cmultiplies risk without proportionally multiplying return.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our take: <\/strong>Karm and Engazaat are solving different problems \u2014 and they're both right. Karm is sizing agrivoltaics against the unit economics of standalone solar-for-irrigation \u2014 a model that already works and is already cheap. Engazaat is sizing it against a broader question of what kind of land-use our water-stressed economy can sustain over the next decade. The September results will tell us whether the integrated-infrastructure argument has data behind it or remains a useful framing exercise. <\/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\/going-green\/\">going green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"708870\" 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\/09\/708870\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-708870\" class=\"content-area-description single-story post-708870 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>16-18 June (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/annual.arabfertilizer.org\/\" style=\"\">AFA International Annual Fertilizer Conference & Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Nile Ritz-Carlton, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 June (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5constructegypt.com\/landing-page\/big-5-construct-egypt-2026\/?utm_source=cpc-internal&utm_medium=google&utm_campaign=S-Big5Egypt-Visprom-2026-EN&gad_source=1&gad_campaignid=23795721284&gbraid=0AAAAApC54yA79iq967dswU4I-3SBFqsS_&gclid=Cj0KCQjwio_RBhDMARIsAJPveNMi4D5qDZopCgNfPWn-2RuF_0ayGGa9Q1bn2-UrsvDlxIkJDPmDcegaAhCKEALw_wcB\" style=\"\">The Big 5 Construct Egypt<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 June (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/watrexexpo.com.eg\/\" style=\"\">Watrex Expo<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/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;\">10-12 September (Thursday-Saturday): Egyptian Entrepreneurship Sector Diagnostics Report Summit, El Gouna.<\/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>26-28 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eventbrite.com\/e\/iex-egypt-tickets-1701070320119\" style=\"\">IEX Egypt<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/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>7-10 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/foodafrica-expo.com\/\" style=\"\">Food Africa<\/a><\/span><span>, Egypt International Exhibition Center, Cairo.<\/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:400;\">4Q 2026: Banque du Caire IPO<\/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>16-18 January (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.agriexpo-eg.com\/\" style=\"\">Agri Expo<\/a><\/span><span style=\"font-weight:400;\">, Cairo International Convention Center.<\/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>Alcazar takes over Gabal El Zeit | MNT-Halan\u2019s new valuation | FinMin\u2019s new tax package<\/p>\n","protected":false},"featured_media":708850,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-708849","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3a01bbd6-d98a-4b18-8dd8-8f528488d2ff","teaser":"Alcazar takes over Gabal El Zeit | MNT-Halan\u2019s new valuation | FinMin\u2019s new tax package","photo_url":"https:\/\/ent.news\/2026\/6\/550.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Alcazar locks in USD 420 mn deal to manage Gabal El Zeit - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit\" \/>\n<meta property=\"og:description\" content=\"Alcazar takes over Gabal El Zeit | MNT-Halan\u2019s new valuation | FinMin\u2019s new tax package\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-09T02:47:49+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\",\"name\":\"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2026-06-09T00:00:00+00:00\",\"dateModified\":\"2026-06-09T02:47:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/","og_locale":"en_US","og_type":"article","og_title":"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit","og_description":"Alcazar takes over Gabal El Zeit | MNT-Halan\u2019s new valuation | FinMin\u2019s new tax package","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2026-06-09T02:47:49+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/","name":"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1","datePublished":"2026-06-09T00:00:00+00:00","dateModified":"2026-06-09T02:47:49+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/6\/550.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/708849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/708849\/revisions"}],"predecessor-version":[{"id":708890,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/708849\/revisions\/708890"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/708850"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=708849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=708849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=708849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}