{"id":710636,"date":"2026-06-16T00:00:00","date_gmt":"2026-06-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=710636"},"modified":"2026-06-16T02:49:30","modified_gmt":"2026-06-16T02:49:30","slug":"egypt-secures-eur-690-mn-in-eu-financing-for-grid-upgrade","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-secures-eur-690-mn-in-eu-financing-for-grid-upgrade\/","title":{"rendered":"Egypt secures EUR 690 mn in EU financing for grid upgrade"},"content":{"rendered":"<section id=\"710638\" 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=\"710638\">\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\/16\/hassan-allam-commits-usd-400-mn-to-new-data-center\/\">\r\n                            Hassan Allam commits USD 400 mn to new data center                        <\/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\/16\/hassan-allam-commits-usd-400-mn-to-new-data-center\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"710639\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/hassan-allam-commits-usd-400-mn-to-new-data-center\/1058-jpg-35\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1058.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1058.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1058.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1058.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710638\" class=\"content-area-description single-story post-710638 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today-10 tag-data-centers tag-energy tag-enterpriseam tag-hassan-allam tag-oil-and-gas tag-trade 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, friends.<\/strong> It\u2019s a capital flows and pipelines kind of morning as the EU puts up EUR 690 mn to upgrade our grid in a bid to integrate 22 GW of new renewables into our grid by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, our privatization pipeline is thawing in earnest. <\/strong>Offers are in for Safi, an IPO timeline is set for Quick Fuel, and Elab is filing for a temporary EGX listing \u2014 three long-running plays moving at once, just as the IMF watches the benchmark.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>ALCN is moving its 6.01% Egypt Maritime Ports stake up to its state-owned parent in a no-cash EGP 1.05 bn compensation swap.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Last, but not least: <\/strong>Don\u2019t miss our deep dive into how outward FDI jumped 30% on the back of corporate heavyweights booking agreements across the GCC, Iraq, and North Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>IF YOU MISSED LAST<\/strong><strong> NIGHT\u2019S MATCH- <\/strong>The Pharaohs secured a 1-1 draw against Belgium in their opening Group G match of the 2026 World Cup. Egypt opened the score in the first half, before being forced into an own goal. Egypt will face New Zealand next, with the showdown scheduled for Monday at 4am. <\/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=\"\">ARE YOU MORE OF A LISTENER?<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" style=\"\">Morning Drive is a 10-minute summary<\/a> of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or driving through the morning rush.<strong> And if you like it, tell your friends to tell their friends. They can find us on <\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/enterpriseam-egypt\/id1617987136\" style=\"\">Apple<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/open.spotify.com\/show\/1hzX6KVJGkuj4udK2DvD5Y\" style=\"\">Spotify<\/a><\/strong><strong>, or wherever they get their podcasts.<\/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\">Data hub dreams<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>Our friends at <\/strong><strong>Hassan Allam\u2019s<\/strong><strong> digital infrastructure arm have<\/strong> <strong>committed USD 400 mn for the first phase of a new data center<\/strong> after securing a cloud-computing license from the National Telecom Regulatory Authority. Hassan Allam Digital Infrastructure and Data Center Solutions will execute a phased expansion plan for the facility, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MCITEgypt\/posts\/%D8%A8%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-400-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%83%D9%85%D8%B1%D8%AD%D9%84%D8%A9-%D8%A3%D9%88%D9%84%D9%89-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%85%D8%B1%D9%83%D8%B2-%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D9%85%D8%AA%D8%B7%D9%88%D8%B1-%D9%88%D9%81%D9%82%D9%8B%D8%A7-%D9%84%D8%A3%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%85%D8%B9\/1458916912945264\/\" style=\"\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Egypt wants to become a regional data-center hub, but it has some serious catching up to do. The country currently hosts only 14 facilities \u2014 <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/why-are-we-falling-behind-the-emerging-market-data-center-boom\/\" style=\"\">representing just 5.5%<\/a> of the region\u2019s data centers, according to Data Center Map. Hassan Allam\u2019s new facility gives Egypt more room to keep data within our borders, cutting latency and making financial transactions, AI processing, and cloud services more reliable.<\/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\">Fifth vessel incoming<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>The government is expected to contract for a fifth floating storage regasification unit (FSRU) ahead of the summer demand peak<\/strong>, two government officials tell EnterpriseAM. The vessel will join the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/06\/our-east-med-energy-hub-play-gets-another-shot-in-the-arm\/\" style=\"\">four FSRUs<\/a> already deployed in the country \u2014 the Hoegh Galleon, Energos Power, Energos Eskimo, and Energos Winter \u2014 which currently provide c.2.7 bcf\/d of regasification capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> We\u2019ve been buying huge volumes of liquified natural gas (LNG) since our domestic natural gas production plunged to an average of <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/01\/why-our-gas-sector-is-leaning-heavily-on-lng-imports\/\" style=\"\">3.87 bcf\/d<\/a> in 1Q 2026, compared to its peak of 6.13 bcf\/d in March 2021. Egypt needs more capacity to turn the LNG into usable gas \u2014 a fifth unit would up our capacity, deepen the import buffer, and keep the national grid from buckling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT-<\/strong> <strong>Egypt has secured around <\/strong><strong>75 LNG cargoes<\/strong><strong> to cover natural gas needs through the end of the year<\/strong>, including 45 cargoes for the summer months, the officials say. Roughly 30 of the summer cargoes will be directed to power stations, the sources add.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The government could revise its oil price assumption in the FY 2026\/27 budget<\/strong> to USD 100-110 \/ bbl (from USD 75 \/ bbl in the draft sent to the House) if regional tensions continue, an official tells us. The figure could come in below USD 100 \/ bbl if the war ends, he adds, which now looks likely as the US and Iran recently reached a tentative ceasefire agreement. Every USD 10 \/ bbl increase in global energy prices widens Egypt\u2019s trade deficit by roughly USD 900 mn, putting pressure on a draft budget that Finance Minister Ahmed Kouchouk <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/14\/egypts-finance-minister-promises-no-new-taxes-in-wartime-budget\/\" style=\"\">said was built around oil at USD 75 \/ bbl<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s total energy import bill is expected to hit USD 13.5 bn, up from prev<\/strong><strong>ious estimates of USD 12 bn in FY 2026\/27<\/strong>, according to a government document seen by EnterpriseAM. From April through September of this year, crude import costs are expected to surge to USD 13.3 bn, up from an initial target of USD 10 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Old friends, new pact <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The House of Representatives gave the final nod to a presidential decree ratifying the country\u2019s accession to the D-8 Pre<\/strong><strong>ferential Trade Agreement and its dispute settlement protocol,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=5788\" style=\"\">statement<\/a>. The block includes Turkey, Indonesia, Iran, Malaysia, Nigeria, Pakistan, Bangladesh, and Azerbaijan \u2014 the ninth member who <a target=\"_blank\" href=\"https:\/\/developing8.org\/about-d-8\/brief-history-of-d-8\/\" style=\"\">joined last year<\/a>. <\/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 pact slashes tariffs and eliminates non-tariff barriers between the signatories. It also enforces a \u201cnational treatment\u201d clause \u2014 meaning goods imported from member states are treated equally to domestic products under commercial regulations \u2014 and scraps any hidden fees or levies acting as backdoor customs duties. This will help Egyptian exporters access markets of over 1 bn people, which should move the government closer to hitting its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/11\/industry-ministry-preparing-to-launch-new-industrial-land-leasing-scheme-for-smes\/\" style=\"\">USD 100 bn<\/a> target in non-oil exports by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new agreement mandates a structured reduction of customs tariffs across three tiers:<\/strong><\/p>\n<ul>\n<li>Any tariffs exceeding 25% will be reduced to 25%;<\/li>\n<li>Tariffs ranging between 15-25% will be reduced to 15%;<\/li>\n<li>Tariffs between 10-15% will be reduced to 10%.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Friendlier terms for settling disputes: <\/strong>The agreement also includes an institutional dispute settlement mechanism covering friendly consultations, referral to a supervisory committee, and arbitration \u2014 providing a more stable framework for trade relations among signatories, a government official tells us.<\/p>\n<p class=\"tag-border-left\">Happening today<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Abdel F<\/strong><strong>attah El Sisi <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/egpresidency_ar\/status\/2066601294983258118?s=46\" style=\"\">is in France<\/a><\/strong><strong> for the G7 summit<\/strong>, where he is expected to meet with a number of world leaders, including US President Donald Trump. The summit kicked off yesterday and runs through tomorrow as leaders grapple with an increasingly crowded agenda spanning geopolitical tensions in the Middle East, trade, security, and the global economy. We have more on what went down during day one of the summit in the news well, below. <\/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 39.2 bn \u2014 that\u2019s how much money Egyptians abroad sent home during the first 10 months of FY 2025\/26<\/strong>, a 33.2% y-o-y increase from USD 29.4 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/894.pdf\" style=\"\">statement (pdf)<\/a> from the Central Bank of Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a monthly basis<\/strong>, remittances jumped 44% y-o-y to USD 4.3 bn in April, up from USD 3 bn in April 2025, but down from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/02\/tmg-secures-land-for-usd-10-bn-iraqi-project\/\" style=\"\">March\u2019s record of USD 5.5 bn<\/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\"><strong>WEATHER- <\/strong>The day looks familiarly warm in Cairo today, with a high of 34\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s more springy in Alexandria<\/strong>, with a high of 27\u00b0C and a low of 20\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\/784.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">You can survive a bad investment, but you cannot undo a severance package you never negotiated.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">You're at the stage where the questions have shifted: who gets what, whether your estate survives you intact or gets tied up in courts, whether you exit on your terms or let timing decide for you.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Retirement isn't a finish line but a structure problem, and most people get it wrong. It's not because they ran out of money but because they never asked the right questions at the right time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In the final issue of <strong>EnterpriseAM Money Matters<\/strong>, we cover the decisions that define how you exit: estate planning under Egyptian law, what to actually ask your lawyer before you step back, how to read a severance package, when phased retirement makes financial sense \u2014 and when cashing out your options is the smartest move you'll make this decade.<\/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 tomorrow, June 17.<\/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>When will Hormuz <\/strong><strong>reopen? <\/strong>That was the main question <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-15\/us-at-odds-with-allies-over-how-easy-it-is-to-reopen-hormuz?srnd=homepage-middle-east\" style=\"\">dominating the opening day of the G7<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-15\/us-at-odds-with-allies-over-how-easy-it-is-to-reopen-hormuz?srnd=homepage-middle-east\" style=\"\">Summit<\/a> in France. While US President Donald Trump seems confident that the strait will be open to all on Friday \u2014 when the US and Iran are scheduled to sign a final agreement \u2014 others are less optimistic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drama at the summit: <\/strong>G7 members are yet to find common ground on how to handle \u201cthe situation in Iran,\u201d one G7 official told Bloomberg. With two more days to go, we\u2019ll be closely watching for developments from the summit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>News of the US-Iran agreement is making waves across stock markets: <\/strong>Equities <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8a6849de-b27c-4680-a80d-42b85b0e77eb?syn-25a6b1a6=1\" style=\"\">soared yesterday<\/a> as the announcement reignited investor confidence \u2014 the S&P 500 jumped 1.7% and the Nasdaq Composite rose 3.1%. The rally was further supported by SpaceX\u2019s shares rising almost 20% yesterday \u2014 their second day of trading. Meanwhile, oil prices continued their fall, with Brent dipping 4.8% to USD 83.17.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beware the meat wall: <\/strong>The Wall Street Journal is out with a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/sports\/soccer\/world-cup-hack-meatwall-9d78e237?mod=hp_listb_pos1\" style=\"\">piece<\/a> looking at a new obstacle standing in the way of the teams playing in this year\u2019s World Cup \u2014 the Meat Wall. In this tactic players line up to form a wall in hopes of blocking corner or free-kicks, which the WSJ says has turned \u201cthe beautiful game into a wrestling match.\u201d <\/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 look at a new UN-backed push to move the country\u2019s green hydrogen projects past the MoU phase, and why the lack of clear executive frameworks remains a bottleneck.<\/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\/data-centers\/\">Data Centers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam\/\">Hassan Allam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"710640 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=\"710640\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/710640\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710640\" class=\"content-area-description single-story post-710640 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:\/\/londonmeetsoma.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/786.jpg?ssl=1\"><\/a><\/span><\/p><div class=\"grouped-tags\">\n<p><span style=\"font-weight:400;\">London, Meet SOMA.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Join us at the Nile Property Expo, London Hilton Park Lane, 27\u201328 June.<\/span><\/p>\n<p><span style=\"font-weight:400;\">Discover Red Sea residences crafted for real living.<\/span><\/p>\n<p><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/londonmeetsoma.com\/\" style=\"\">Click here to book your appointment now.<\/a><\/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=\"710641\" 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=\"710641\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Big Story Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/egypt-secures-eur-690-mn-in-eu-financing-for-grid-upgrade\/\">\r\n                            Powering up                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/920.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"710642\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/egypt-secures-eur-690-mn-in-eu-financing-for-grid-upgrade\/920-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/920.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"920.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/920.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/920.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710641\" class=\"content-area-description single-story post-710641 post type-post status-publish format-standard has-post-thumbnail hentry category-the-big-story-today tag-energy tag-enterpriseam tag-the-big-story-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The EU is putting up EUR 690 mn to upgrade our electricity transmission network and integrate 22 GW of new renewable capac<\/strong><strong>ity into the grid by 2030<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.eeas.europa.eu\/delegations\/egypt\/egypt-and-eu-join-forces-%E2%82%AC690-million-clean-energy-grid-investment_en?s=95\" style=\"\">statement<\/a>. The agreement \u2014 a EUR 600 mn EIB Global loan with EUR 90 mn tacked on in European Commission grants \u2014 is the first concrete project under T-Med, the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative the EU has built as the energy flagship of its new Pact for the Mediterranean.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/18\/were-tackling-the-missing-piece-in-our-renewables-strategy-batteries-2\/\" style=\"\">42% renewables by 2030 target<\/a> has run into a binding constraint that has nothing to do with generation \u2014 the grid can\u2019t reliably absorb the solar and wind capacity that has been added. The Egyptian Electricity Transmission Company (EETC) spent <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1Bxe5wcYm7\/?mibextid=wwXIfr\" style=\"\">EGP 26.3 bn<\/a> upgrading the grid\u2019s infrastructure during the last fiscal year, and former Investment Minister Hassan El Khatib has spoken about <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\" style=\"\">the need for USD 45 bn in distribution infrastructure investments<\/a> to integrate new clean capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> EETC will use the financing to pay for new substations and high-voltage transmission lines to carry solar and wind power from the Red Sea and Gulf of Suez out to the national grid, with the EU money covering 44% of the total program cost and EETC funding the balance from its own resources, the statement notes. The EIB-supported phase will run 2027 to 2030, with the government acting as borrower through the Central Bank of Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>The package landed alongside the EU-Egypt Association Council in Luxembourg \u2014 the first such session since Egypt and the EU signed their <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/183954ef-4dc7-49c8-9499-743e77de1e74\/eu-pledges-eur-7.4-bn-aid-package-for-egypt\" style=\"\">Strategic and Comprehensive Partnership in 2024<\/a>. EU High Representative Kaja Kallas framed the meeting around six strategic priorities \u2014 trade, investment, energy, green transition, migration, and people-to-people contacts, according to a separate <a target=\"_blank\" href=\"https:\/\/www.eeas.europa.eu\/eeas\/eu-egypt-association-council-joint-press-remarks-high-representative-kaja-kallas-and-badr-abdelatty_en?s=95\" style=\"\">statement<\/a>. T-Med is positioned as the EU\u2019s energy arm in the Mediterranean under <a target=\"_blank\" href=\"https:\/\/www.eeas.europa.eu\/delegations\/egypt\/global-gateway_en\" style=\"\">Global Gateway<\/a>, the bloc\u2019s strategy to mobilize up to EUR 300 bn in infrastructure financing globally by 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The EU pledged a EUR 7.4 bn package of loans, grants, and investments through to 2027 and inked a joint strategic and comprehensive partnership with Egypt back in 2024. The grid package is the largest single concrete clean energy investment to land since that framework was signed. European backing has been one of our go-tos for grid support, with the European Bank for Reconstruction and Development (EBRD) <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/it-doesnt-matter-how-many-solar-and-wind-parks-you-build-if-the-grid-cant-handle-the-load\/\" style=\"\">committing EUR 200 mn<\/a> to support grid upgrades last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EETC has been the central instrument of Egypt\u2019s renewables build-out for over a decade<\/strong>, offtaking electricity through long-term PPAs \u2014 USD-denominated for the new wave of projects \u2014 that have anchored the bankability of the 1.5 GW Benban solar park and recent solar-plus-storage projects like Scatec\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/12\/two-big-boosts-for-our-renewable-energy-ambitions-2\/\" style=\"\">1.95 GW of solar power and 3.9 GWh of battery storage PPA<\/a> signed in January. EBRD data shows over <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/home\/what-we-do\/impact-management\/impact-case-studies\/accelerating-decarbonisation-in-egypt.html\" style=\"\">10 GW of renewable PPAs have been signed to date<\/a>, with nearly 6 GW at financial close, mobilizing over EUR 4.3 bn of private capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>We\u2019ll be on the lookout for the procurement timeline on the substation and transmission line contracts. The EPC awards will signal whether European or domestic engineering giants like our friends at Hassan Allam and Orascom Construction will snap up the contracts.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-big-story-today\/\">THE BIG STORY TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"710643\" 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=\"710643\">\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\">Privatization Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/\">\r\n                            Late privatization homework                        <\/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\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/\" 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\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/')\">\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\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/\">\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=Privatization pipeline thaws as Safi draws bids and Elab files for EGX listing&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/\">\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\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/&title=Privatization pipeline thaws as Safi draws bids and Elab files for EGX listing\">\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=Privatization+pipeline+thaws+as+Safi+draws+bids+and+Elab+files+for+EGX+listing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F16%2Fprivatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing%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\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/488.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"710644\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/privatization-pipeline-thaws-as-safi-draws-bids-and-elab-files-for-egx-listing\/488-jpg-36\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/488.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"488.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/488.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/488.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710643\" class=\"content-area-description single-story post-710643 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch-2 tag-egx tag-enterpriseam tag-privatization-watch tag-sovereign-fund-of-egypt tag-state-privatization-program tag-taqa-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Some of the <\/strong><strong>g<\/strong><strong>overnment\u2019s longest-running privatization plays may finally be seeing daylight.<\/strong> Offers are in for military-owned bottled water maker Safi and an IPO timeline has been set for the military\u2019s new retail field vehicle Quick Fuel. Also, state petrochems company Elab just filed for a temporary listing on the EGX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Safi has started drawing bids, with the government now reviewing \u201cactual offers\u201d for the asset<\/strong>, a senior government official tells EnterpriseAM. The expected transaction follows <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/14\/taqa-arabia-acquires-10-of-172-wataneya-stations\/\" style=\"\">the recent Wataneya-Taqa Arabia agreement<\/a> and is one of five National Service Projects Organization (NSPO) companies the government plans to divest by 1H 2027, the official says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keeping its options open: <\/strong>While the government will continue temporarily listing state-owned companies on the EGX through the summer, it remains fully prepared to pivot from public offerings to strategic stake sales if private offers match fair-value studies, State-Owned Companies Unit CEO Hashem El Sayed tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- We now have a date for <\/strong><strong>the <\/strong><strong>Quick Fuel IPO.<\/strong> Wataneya\u2019s new vehicle is expected to begin the temporary EGX listing process before end-2026, after Taqa Arabia takes over management and operation, the official says. NSPO handed Taqa a 10% stake in Quick Fuel \u2014 which holds 172 Wataneya stations \u2014 under the transaction, with the option to acquire another 15% once Quick Fuel lists.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE<\/strong><strong>- Qalaa Holdings wants more of Taqa Arabia:<\/strong> The EGX-listed investment firm, which currently holds approximately 6.2% of Taqa Arabia, intends to purchase an additional 11.45% of Taqa\u2019s shares, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/898.pdf\" style=\"\">bourse filing (pdf)<\/a>. That comes on top of its existing option to buy NSPO\u2019s 20% stake in June 2027. Qalaa could also acquire a further 17.68% block in September 2029 \u2014 currently owned by Banque Misr, Banque du Caire, Al Ahli Bank of Kuwait, and Arab African International Bank under a previous debt settlement. If Qalaa exercises all three tranches, its stake in Taqa Arabia would climb north of 55%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Safi and Wataneya have been in the privatization pipeline for years. The Sovereign Fund of Egypt <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/04\/10\/sfe-to-restructure-five-military-owned-companies-ahead-of-listings\/\" style=\"\">began restructuring five NSPO companies<\/a> \u2014 Wataneya, Safi, Silo Foods, Chill Out, and the National Roads Company \u2014 last year ahead of planned offerings, after earlier attempts to sell stakes in Safi and Wataneya repeatedly stalled.<\/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\">Elab nears the front of the IPO queue<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State-owned and ADQ-backed petrochems player Egyptian Linear Alkyl Benzene Company (Elab) filed for a temporary listing on the main market<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/www.egx.com.eg\/en\/newsdetails.aspx?NewsID=289782\" style=\"\">EGX disclosure<\/a>. The firm is looking to float some 2.1 bn shares at a nominal value of USD 0.1 apiece, bringing its issued capital on the board to USD 210 mn at par value. We still don\u2019t know which of Elab\u2019s shareholders is providing the paper.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Elab has been lined up for the state IPO program <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/04\/four-state-owned-companies-ready-to-list-with-eight-more-to-follow-egx\/\" style=\"\">since at least 2018<\/a>, before Abu Dhabi sovereign wealth fund ADQ stepped in to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/01\/adq-finalizes-acquisition-of-stakes-in-state-run-petchem-drilling-companies\/\" style=\"\">acquire 35%<\/a> of it back in 2023. The latest move is part of the government\u2019s plan to temporarily list 10 petroleum sector companies by the end of June, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/14\/taqa-arabia-acquires-10-of-172-wataneya-stations\/\" style=\"\">clearing the runway<\/a> for Enppi, Petrojet, and Midor to follow in July, to keep the IMF on-side.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elab is in the middle of a USD 20 mn+ expansion<\/strong> that will add 50k tons to its existing 150k-ton capacity, lifting its annual linear alkyl benzene production by roughly a third, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/2119231\/%C2%AB%D8%A5%D9%8A%D9%84%D8%A7%D8%A8%C2%BB-%D8%AA%D9%86%D9%81%D8%B0-%D8%AA%D9%88%D8%B3%D8%B9%D8%A7%D8%AA-%D8%A8%D9%8020-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%88%C2%AB%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1\/\" style=\"\">Al Mal<\/a> reports, citing unnamed sources. The project was originally due for completion before the end of this month, before regional geopolitical tensions pushed the timeline into 2H this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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=\"710646\" 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=\"710646\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/alcn-sells-egypt-marine-ports-stake-to-state-parent\/\">\r\n                            ALCN trims portfolio                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n  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       \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/alcn-sells-egypt-marine-ports-stake-to-state-parent\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/314.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"710647\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/alcn-sells-egypt-marine-ports-stake-to-state-parent\/314-jpg-26\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/314.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"314.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/314.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/314.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710646\" class=\"content-area-description single-story post-710646 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-ad-ports tag-alcn tag-enterpriseam tag-logistics tag-ma tag-ma-watch tag-maritime 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>Alexandria Container & Cargo Handling (ALCN) is <\/strong><strong>moving up its entire 6.01% stake in Egypt Maritime Ports<\/strong> to one of its own corporate parents, state-owned Holding Company for Maritime and Land Transport, in an EGP 1.05 bn transaction, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/710386.pdf\" style=\"\">EGX disclosure (pdf)<\/a>. The sale is structured as a compensation swap, with no money changing hands, a senior government official tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the fair value? <\/strong>The related-party transaction covers 182.7 mn shares at a fair value of USD 0.111 per share, putting total consideration at c.USD 20.28 mn. The fair value study assumed a conversion rate of EGP 51.77 to the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A sprint to sign-off: <\/strong>ALCN had to change independent financial advisors less than three weeks before the fair value study was published. Elite Financial stepped in to complete the valuation \u2014 audited by Grant Thornton and BoD-approved \u2014 in less than 21 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mind the gap: <\/strong>Baker Tilly, which was originally tapped for the transaction \u2014 according to <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/710435.pdf\" style=\"\">an earlier bourse filing (pdf)<\/a> \u2014 stepped back due to an independence issue under FRA rules. The firm had worked with ALCN within the preceding six months, which disqualifies it from serving as an independent financial advisor on a separate transaction during that period, a source close to the matter tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sale <\/strong><strong>has nothing to do with Black Caspian\u2019s MTO for 90% of ALCN<\/strong>, the government official tells us. Discussions on the transaction have been underway since the start of the year, well before AD Ports submitted its sweetened offer, which the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/15\/transport-ministry-to-reject-ad-ports-sweetened-mto-for-alex-containers\/\" style=\"\">government is set to reject<\/a>, the source adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who sits at the cap table:<\/strong> AD Ports, which is owned by Abu Dhabi wealth fund ADQ, built <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/23\/adq-secures-indirect-majority-control-of-alexandria-container-cargo-handling-company\/\" style=\"\">a 51.33% majority<\/a> in ALCN across two moves \u2014 a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/adq-makes-grand-entry-into-the-egx-with-usd-1-8-bn-buy-launches-first-mena-spac-with-chimera\/\" style=\"\">32% indirect stake<\/a> through Alpha Oryx in 2022, and an acquisition of PIF-owned SEIC\u2019s 19.3% for EGP 13.24 bn last November. The government controls a combined 42.9% blocking stake through the Holding Company for Maritime and Land Transport (35.3%) and Alexandria Port Authority (7.6%). <\/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\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alcn\/\">ALCN<\/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\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/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=\"710648\" 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=\"710648\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/egyptian-corporates-are-expanding-regionally-as-outward-fdi-jumps-30\/\">\r\n                            Outward bound                        <\/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\/16\/egyptian-corporates-are-expanding-regionally-as-outward-fdi-jumps-30\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The structural question \u2014 is this outward expansion a deliberate macroeconomic hedge against domestic FX bottlenecks, or simply opportunistic?<\/p>\n<p class=\"tag-border-left\">By the numbers<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian outward FDI reached USD 508 mn in 2024, a 30.3% y-o-y increase, building on a 14% rise to USD 390 mn in 2023<\/strong>, according to UNCTAD FDI data compiled and shared with us by senior economist and macro analyst Islam Magdy. The upward trajectory also continued into the current year, with Central Bank of Egypt (CBE) data showing net outward FDI climbing further to USD 524.1 mn in FY 2024\/25. The surge correlates with Egypt's worst run of currency devaluations, with the EGP losing roughly 50% of its value against the USD across three devaluations between March 2022 and March 2024, culminating in a final 38% step-adjustment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crucially, Egypt\u2019s balance of payments shows investment income receipts <\/strong><strong>remain meaningful relative to outward FDI flows. <\/strong>CBE data shows that income receipts hit USD 2.90 bn in FY 2024\/25, generating a 5.53x ratio against USD 524.1 mn in net outward FDI. This follows strong inflows in the preceding years, with receipts recording USD 1.93 bn in FY 2023\/24 (a 3.85x ratio) and USD 2.14 bn in FY 2022\/23 (a 6.33x ratio).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Companies like Orascom, EFG Hermes, and Oriental Weavers were building regional footprints well before recent devaluations, reflecting long-standing strategic ambitions<\/strong>, Magdy says. Al Ahly Pharos head of research Hany Genena traces the original impulse to the November 2016 float, when companies like Edita looked to Morocco. \u201cThat impulse faded as the EGP stabilized, but the 2022-2024 shock made the hedging imperative a structural necessity,\u201d he says. \u201cThe devaluations accelerated existing expansion plans and enhanced the relative attractiveness of foreign markets for hard currency generation,\u201d Magdy adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The analytical tension<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Devaluation is not a single-variable explanation. <\/strong>\u201cIf the [chance] was not there, it wouldn\u2019t have happened,\u201d EFG Hermes chief economist Mohamed Abu Basha says. Saudi Arabia opened its property market, Oman launched industrial programs, and Iraq attracted regional capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The evidence, sector by sector<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Private real estate is leading the pack.<\/strong> TMG recently secured land and an investment license for a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/02\/tmg-secures-land-for-usd-10-bn-iraqi-project\/\" style=\"\">USD 10 bn megaproject in Baghdad<\/a> spanning 12.8 mn sqm, targeting USD 18.8 bn in sales and USD 108 mn in annual recurring revenues. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/japans-yazaki-kicks-off-construction-of-auto-parts-factory-plus-news-from-ora-developers-bosta-taqa-volt\/\" style=\"\">Sawiris-owned Ora Developers<\/a> also inked an agreement with the Iraqi government to develop Ali Al Wardi New City, described as the biggest residential complex in Iraq. Palm Hills Developments is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/09\/palm-hills-unveils-fresh-details-on-usd-3-8-bn-abu-dhabi-mega-project\/\" style=\"\">deploying USD 3.8 bn to develop Saadiyat Shores in Abu Dhabi<\/a>, targeting over USD 7 bn in project sales from international buyers. Orascom Construction and OCI Global are <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/25\/orascom-construction-shareholders-approve-oci-deal-but-the-seller-cant-sign-yet\/\" style=\"\">exploring a cross-border merger<\/a> to create a single global infrastructure platform domiciled and listed in Abu Dhabi. A consortium led by b'naire Samih Sawiris is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/23\/sawiris-led-consortium-starts-rebuilding-eur-200-mn-moroccan-mogador-resort\/\" style=\"\">investing EUR 200 mn<\/a> to kick off the first phase of rebuilding the long-stalled Mogador resort in Morocco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FMCG wave is part of the same push.<\/strong> Snackmaker Edita Food Industries recently secured a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/edita-secures-egp-500-mn-loan-to-boost-production-capacity\/\" style=\"\">seven-year, EGP 500 mn loan<\/a> to establish new production lines across Morocco and Iraq. Juhayna also recently inked a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/21\/bahaa-el-din-calls-for-post-imf-structural-reform\/\" style=\"\">distribution agreement with Saudi Arabia<\/a> to expand its footprint across the GCC, and Domty is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/16\/domty-has-plans-to-set-up-shop-in-saudi-arabia\/\" style=\"\">eyeing a factory rollout in the Kingdom<\/a>. Abu Basha notes this upgrades the FMCG model, allowing firms to invest in brands rather than relying on distribution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State engineering is using diplomatic channels.<\/strong> Enppi marked its debut in Oman in May 2026, securing a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/enppi-lands-usd-355-mn-turnkey-contract-in-oman\/\" style=\"\">USD 355 mn turnkey contract<\/a> to triple the Birba Gathering Station\u2019s processing capacity for Petroleum Development Oman. Earlier transactions in the cycle include Petrojet\u2019s USD 181 mn EPC contract at Adnoc\u2019s Bab and Asab fields in the UAE in June 2023, and the USD 1.24 bn natural gas pre-conditioning plant transaction Enppi and Petrojet closed in the UAE in January 2025. Local manufacturer Zeinox then inked a USD 2.5 mn agreement with the Oman Aluminium Rolling Company to build a 50k-ton capacity downstream aluminum center.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Banking is following the corporate migration. <\/strong>State-owned National Bank of Egypt recently opened its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/19\/national-bank-of-egypt-opens-its-first-saudi-branch\/\" style=\"\">first Saudi branch<\/a> and is currently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/18\/nbe-is-looking-into-setting-up-shop-in-iraq\/\" style=\"\">looking into setting up shop in Iraq<\/a>, and is studying an <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/16\/sherif-elbehery-to-head-nbes-uae-operations\/\" style=\"\">expansion in the UAE<\/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\">A possible motive<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is a valuation arbitrage driver few are discussing.<\/strong> \u201cA lot of companies were saying, \u2018I want to list abroad to boost my equity value, so that I am perceived as a foreign operator\u2019,\u201d Genena explains. Once a company generates 50% or more of its revenues from the Gulf \u2014 where exchange rates are stable and equity risk premiums are lower \u2014 investors assign it a lower cost of equity, raising overall valuation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The Iraqi question<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iraq is the highest-stakes geographic bet. <\/strong>Investment flows into the country exceeded USD 102 bn between 2022 and 2025, Magdy says. Egyptian companies hold a competitive edge through execution experience in frontier markets and competitive pricing following the EGP's depreciation, he added. Iraq\u2019s accession to the <a target=\"_blank\" href=\"https:\/\/unis.unvienna.org\/unis\/en\/pressrels\/2021\/unisl323.html\" style=\"\">New York and Singapore conventions in 2021<\/a> has meaningfully strengthened investor protection frameworks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this mean?<\/strong> By <a target=\"_blank\" href=\"https:\/\/www.undp.org\/european-union\/press-releases\/marking-milestone-boosting-foreign-investments-iraq-signs-singapore-convention\" style=\"\">acceding to the New York and Singapore conventions<\/a>, Iraq institutionalized a global safety net, giving foreign corporate firms \u2014 including Egyptian developers \u2014 predictability to conduct business there. This structural de-risking allows Egyptian firms to confidently expand into Iraq\u2019s reconstruction pipeline, without leaving their capital exposed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But Iraq carries real risk. <\/strong>Genena adds a note of caution: GB Corp saw its operations in Iraq \u2014 which span the <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/876.pdf\" style=\"\">distribution of passenger cars<\/a> like MG, JAC, and Foton, Bajaj light mobility vehicles, and aftermarket spare parts \u2014 hurt by the regional war, turning a perceived hedge into a \u201cvaluation destroyer,\u201d as inventory piled up and the company was forced to absorb markdown losses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The cost? A domestic brain drain<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outward expansion is bleeding skilled workers to the Gulf, pushing local wages higher.<\/strong> As contractors navigate red tape to get teams abroad \u2014 like a USD 2.5k work visa for an Egyptian project manager in Iraq \u2014 the macroeconomic risk is that this relocation leaves the domestic market starved of talent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The contractor\u2019s structural piece is the sharpest evidence of survival, not just <\/strong><strong>potential<\/strong><strong>. <\/strong>As tracked in previous coverage, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypts-construction-sector-split-between-large-firms-diversifying-abroad-and-smaller-contractors-burning-through-capital\/\" style=\"\">contractors are navigating a liquidity crunch and margin erosion<\/a>. Nominal contract values mask deep losses, with asphalt costs jumping from EGP 100 per sqm at signing to EGP 350 today. State compensation covers only 60-70% of actual losses while imported supplies eat 40-50% of project costs in foreign currency, leaving local projects exposed to FX shocks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The margin squeeze has fractured the market.<\/strong> Large players shield their balance sheets through foreign backlogs, evidenced by Orascom Construction\u2019s USD 9.0 bn backlog in FY 2025, driven heavily by an 80.6% jump in its US backlog. Conversely, second- and third-tier contractors stuck at home are selling assets to stay in the market, with some facing bankruptcy. The EFCBC is now lobbying for state backing to turn construction exports into a primary hard currency earner.<\/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\">Does the money come back?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Self-generating USD abroad reduces demand on Egypt\u2019s interbank market<\/strong>, which Abu Basha describes as a healthy outcome of devaluation. As the numbers above show, the ratio of investment income receipts to outward FDI flows has risen significantly since 2022, proving that inflows are entering the system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the BOP benefit materializes only if income is repatriated.<\/strong> Genena warns that if income flows into offshore SPVs \u2014 shell companies set up in low-tax jurisdictions to route income \u2014 rather than back to Egypt, the BOP benefit evaporates. The precise breakdown between repatriated earnings and reinvested income deserves closer institutional attention, Magdy adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> The state\u2019s position <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government views outward expansion as a source of future hard currency, not a drain. <\/strong>The Sovereign Fund of Egypt is exploring outward investments, and the Central Bank frames outward capital mobility as a feature, Magdy says. Capital controls would contradict Egypt\u2019s IMF commitments. The 2022 episode showed the cost of restricting USD flows, damaging investor confidence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Why it matters<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outward expansion is an attempt to build new USD income streams and diversify risk <\/strong>\u2014 a convergence of strategic hedging, opportunism, domestic constraints, and the GCC investment cycle. The indicator to watch is the CBE\u2019s balance of payments data, specifically whether \u201cprimary income\u201d starts to move meaningfully as these cross-border projects mature.<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"710650\" 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=\"710650\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/\">\r\n                            Housing and Development Bank has a new CEO                        <\/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\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/\" 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\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/')\">\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\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/\">\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=Housing and Development Bank appoints Yehia Aboulfotouh as CEO&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/\">\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\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/&title=Housing and Development Bank appoints Yehia Aboulfotouh as CEO\">\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=Housing+and+Development+Bank+appoints+Yehia+Aboulfotouh+as+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F16%2Fhousing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo%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\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/918.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"710651\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/housing-and-development-bank-appoints-yehia-aboulfotouh-as-ceo\/918-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/918.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"918.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/918.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/918.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710650\" class=\"content-area-description single-story post-710650 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Housing<\/strong><strong> and Development Bank has named Yehia Aboulfotouh (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yehia-aboulfotouh\/\" style=\"\">LinkedIn<\/a><\/strong><strong>) as CEO and managing director effective 1 July<\/strong>, following the resignation of Hassan Ghanem (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hassan-ghanem-21ba9661\/\" style=\"\">LinkedIn<\/a>), who stepped down for personal reasons, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/890.pdf\" style=\"\">statement (pdf)<\/a>. Aboulfotouh has held a 15-year tenure at the National Bank of Egypt, where he served as deputy chairman for nearly 12 years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"710652 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"710652\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/710652\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710652\" class=\"content-area-description single-story post-710652 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.sodic.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/1089.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"710653\" 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=\"710653\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/\">\r\n                            Urbnlanes enters as Sky AD reportedly exits                        <\/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\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/\" 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\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/')\">\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\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/\">\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=Urbnlanes enters as Sky AD reportedly exits&url=https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/\">\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\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/&title=Urbnlanes enters as Sky AD reportedly exits\">\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=Urbnlanes+enters+as+Sky+AD+reportedly+exits+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2026%2F06%2F16%2Furbnlanes-enters-as-sky-ad-reportedly-exits%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\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"710654\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/urbnlanes-enters-as-sky-ad-reportedly-exits\/1396-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1396.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710653\" class=\"content-area-description single-story post-710653 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-qantara-west-industrial-zone tag-ras-el-hekma 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>Kuwaiti developer Urbnlanes<\/strong><strong> is in final negotiations to acquire a <\/strong><strong>430-feddan plot in Ras El Hekma for EGP 7 bn (USD 137 mn)<\/strong>, where it plans to set up a tourism and hotel project with expected total investments of EGP 80 bn, two sources told the <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/136468\/%D8%A3%D9%88%D8%B1%D8%A8%D9%86-%D9%84%D9%8A%D9%86%D8%B2-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-430-%D9%81%D8%AF%D8%A7%D9%86%D8%A7-%D8%A8%D8%B1%D8%A3%D8%B3-%D8%A7%D9%84%D8%AD%D9%83%D9%85%D8%A9\/?utm_term=Autofeed&utm_campaign=ebx-egy&utm_medium=Social&utm_source=Twitter&Echobox=1781507568\" style=\"\">Arabic press<\/a>. The move follows the reported withdrawal of Sky Abu Dhabi Developments (Sky AD) from its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/16\/sky-ad-breaks-ground-on-egp-80-bn-ras-el-hekma-project\/\" style=\"\">previous development agreement<\/a> on the site, according to the sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The exit:<\/strong> Sky AD \u2014 the real estate arm of UAE-based Diamond Group \u2014 recovered EGP 900 mn it had paid to the landowner and refunded all customer down payments, the sources said. Sky North \u2014 as the project was called \u2014 was planned to span 430 feddans across five phases with a total investment of EGP 80 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Worth noting:<\/strong> Urbnlanes has been building out a hospitality arm in Egypt ahead of any potential North Coast move, having <a target=\"_blank\" href=\"https:\/\/urbnlanes.com\/kuwaiti-urbnlanes-partners-with-story-hospitality-a-subsidiary-of-abu-dhabi-capital-group-to-elevate-hospitality-in-egypt\/\" style=\"\">partnered with Story Hospitality<\/a> \u2014 a subsidiary of Abu Dhabi Capital Group \u2014 in April 2025 to expand extended-stay living in the country.<\/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\">Another Chinese textile project<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s <\/strong><strong>Zhejiang Hongda will set up a USD 20 mn textile manufacturing and <\/strong><strong>processing plant in Qantara West<\/strong> under a newly inked <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/%D8%A8%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-20-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D9%8A%D8%B4%D9%87%D8%AF-%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%B9%D9%82%D8%AF-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-zhejiang\/1326511496292900\/\" style=\"\">contract<\/a> with the Suez Canal Economic Zone. The project will earmark 70% of its output to international markets and create 500 direct jobs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>Qantara West has so far secured 53 projects worth USD 1.5 bn and spanning industry, service, and logistics. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qantara-west-industrial-zone\/\">Qantara West Industrial Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ras-el-hekma\/\">Ras El Hekma<\/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=\"710655\" 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=\"710655\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/markets-are-rushing-back-into-pre-war-trades\/\">\r\n                            Back to the future                        <\/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\/16\/markets-are-rushing-back-into-pre-war-trades\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Hedge funds are piling back into trades that worked before the conflict, buying everything from short-dated Treasuries and beaten-down Asian currencies to Southeast Asian equities and US consumer stocks, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-15\/hedge-funds-reopen-pre-war-playbooks-as-iran-risks-recede?srnd=phx-markets\" style=\"\">Bloomberg<\/a> reports. One fund manager said the trade is to go \u201cback to the future\u201d with what worked before the war.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest beneficiaries could be Asian: <\/strong>Hedge funds are turning bullish on oil-importing economies, including Japan, South Korea, and India, wagering lower crude prices will ease import bills and inflation pressures. Even instant-noodle stocks are back on investors\u2019 shopping lists because of their exposure to palm oil prices.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other sectors stand to gain as well: <\/strong>Investors are also eyeing Middle East-exposed industrials, logistics firms, and shipping companies that could benefit from a normalization of traffic through Hormuz.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the optimism?<\/strong> The agreement removes a major overhang for global markets after months of fighting triggered a massive disruption to oil supply. Brent crude fell more than 5% toward USD 82 a barrel after the agreement announcement, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-15\/inflation-worries-keep-markets-wary-even-after-iran-peace-deal\" style=\"\">Bloomberg<\/a> reported separately, while Treasury yields and the USD also moved lower as traders pared back expectations for future rate hikes.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot still hinges on inflation: <\/strong>\u201cThe real test now is the inflationary legacy of this war,\u201d KCM Trade\u2019s Tim Waterer said, while several analysts expect the agreement to trigger a short-term rally rather than a long-term one. \u201cThe big question is how quickly this oil relief translates into lower inflation and whether that opens the door for central banks to take an easier stance on monetary policy,\u201d Waterer added.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is convinced:<\/strong> The agreement still leaves major questions unresolved, including sanctions relief, Iran\u2019s nuclear program, and the future operation of the Strait of Hormuz. While US President Donald Trump says the waterway will reopen on Friday, analysts warn traffic could take weeks to normalize and inflation expectations \u201cwon't reverse overnight,\u201d Aberdeen Investments\u2019 Michael Langham said.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In other words, markets may be pricing the best-case scenario.<\/strong> Pepperstone strategist Dilin Wu said the agreement must still survive Israeli opposition, Iranian hardliners, and a 60-day nuclear negotiation process. Stifel\u2019s Barry Bannister also warned that while oil may fall further in the short term, the lack of detail in the agreement means the geopolitical risk premium is unlikely to disappear anytime soon.<\/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 markets ar<\/strong><strong>e mixed in early trading this morning<\/strong>, following yesterday\u2019s rally triggered by the announcement of a framework agreement between the US and Iran. Investors are now sitting tight awaiting a rate decision from the Bank of Japan, which is expected to raise rates to a multi-decade high when it meets later today. Japan\u2019s Nikkei is flat, while South Korea\u2019s Kospi is up 1.4%. <\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">52,307<\/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: +25.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 50.32<\/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 50.46<\/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 50.28<\/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 50.38<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">19.00% deposit<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">20.00% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/strong> <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,096<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">9,805<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.7% (YTD: -1.9%)<\/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>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\">5,954<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+3.8% (YTD: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,554<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.7% (YTD: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,431<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +5.0%)<\/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>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\">6,229<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +7.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 81.14<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/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\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 4,338<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 66,404<\/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: -24.2%)<\/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 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\">1,061<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P MENA bond &amp; sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">152.49<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +0.4%)<\/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\">16.20<\/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\">-8.4% (YTD: +8.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div><p class=\"tag-border-left\">THE CLOSING BELL-<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EGX30<\/strong><strong> rose 0.6% at <\/strong><strong>yesterday\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 11.4 bn (34.6% above the 90-day average). International investors were the sole net sellers. The index is up 25.1% YTD.<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Eastern Company (+4.4%), ADIB (+3.3%), and Emaar Misr (+2.8%).<\/p><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Qalaa Holdings (-4.6%), Egypt Aluminum (-4.5%), and Orascom Investment Holding (-2.8%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"710657\">\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 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            <\/a>\r\n                        \n<article id=\"post-710657\" class=\"content-area-description post-710657 goinggreen type-goinggreen status-publish has-post-thumbnail hentry category-going-green tag-enterpriseam tag-going-green tag-green-hydrogen wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt has signed 32 MoUs for green hydrogen projects worth a theoretical USD <\/strong><strong>175 bn, but as of last September, fewer than five had moved past feasibility studies. <\/strong>A new joint program, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D9%88%D9%85%D9%86%D8%B8%D9%85%D8%A9-%D8%A7%D9%84%D9%8A%D9%88%D9%86%D9%8A%D8%AF%D9%88-%D8%AA%D8%B7%D9%84%D9%82%D8%A7%D9%86-%D8%A7%D9%84%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A-%D9%84%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%A7%D9%84%D9%86%D8%B8%D9%8A%D9%81-%D9%85%D8%B5\/1263188679291849\/\" style=\"\">launched last April<\/a> by the General Authority for the Suez Canal Economic Zone (SCZone) and the United Nations Industrial Development Organization (Unido), is the latest attempt to unstick the pipeline \u2014 just as the industry is asking a more fundamental question: should Egypt be selling hydrogen at all?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER\u2013 <\/strong>The OECD laid out a detailed policy stack last month for moving Egypt\u2019s green hydrogen projects to final investment decision \u2014 estimating production costs here at USD 3.7-4.8\/kg, more than double the USD 1.8\/kg target in our national strategy. Reaching 1.5 mn tons of annual capacity by 2030 alone will <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/oecd-lays-out-the-policy-stack-to-move-green-hydrogen-projects-forward\/\" style=\"\">require USD 45.6 bn in investment<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the new program does:<\/strong> The National Clean Hydrogen Program aims to improve Egypt's investment readiness by pushing priority projects past the planning stage through pre-feasibility and feasibility studies. Unido will provide technical and policy support, strengthen institutional and national capacities, and help the SCZone establish a Green Hydrogen Center of Excellence. The initiative also connects local projects to global carbon markets and targets capacity building across government and industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A floor, not a ceiling: <\/strong>\u201cThe program helps developers address technical standards, certification, workforce development, industrial integration, and regulatory coordination \u2014 turning project announcements into investable [prospects],\u201d Hydrogen Egypt cofounder and director Dalia Samir tells EnterpriseAM. The harder work starts when the program ends.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It builds on earlier institutional groundwork: <\/strong>The Unido initiative \u201cbuilds on a series of ongoing institutional efforts,\u201d H2Intelligence founder Osama Fawzy tells us. The push began in 2023 when representatives from the Egyptian Green Hydrogen High Commission, the Electricity Ministry, and Nile University signed an agreement with Geneva- and London-based Green Hydrogen Organization to lay the foundations for a local center of excellence. Separately, the British University in Egypt\u2019s Faculty of Energy and Environmental Engineering partnered with Renewables Academy \u2014 funded by Germany\u2019s International Climate Initiative under the regional Menalinks program \u2014 to deliver advanced courses in battery storage, power-to-X applications, and AI in renewable energy sector coupling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regulatory gap remains a problem: <\/strong>Egypt has plenty of regulations on paper, but \u201cthey often lack clear executive frameworks or the political will for enforcement, leaving them open to broad interpretation,\u201d Fawzy says. That makes EBRD engagement critical. \u201cProjects require coordination across multiple stakeholders \u2014 regulators, ports, utilities, land authorities, financing institutions, industrial users, and technology providers. Delays often arise because these elements move at different speeds,\u201d Hydrogen Egypt CEO Khaled Nageib tells us. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The infrastructure is there \u2014 developers aren\u2019t: <\/strong>The SCZone allocates 700k-800k sqm plots to developers and has built shared facilities for its green hydrogen cluster in Sokhna, including a desalination plant and a 13.5-km pipeline connecting the cluster to ammonia storage tanks. Developers stand hesitant regardless.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe single biggest constraint paralyzing the industry is the lack of offtake agreements<\/strong>,\u201d Fawzy says. Developers can\u2019t secure the 70-30 debt-to-equity financing required for a USD 5-7 bn project from international banks without a signed buyer. On the other hand, offtakers are reluctant to lock in at today's price of USD 4.70\/kg when prices are expected to fall to USD 3.40-3.50\/kg by the time projects go operational. The result? \u201cBanks won't finance without a buyer, and buyers won\u2019t sign without a viable, operational project,\u201d Fawzy tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MDBs can help de-risk: <\/strong>Multilateral development banks can support early-stage feasibility studies, environmental assessments, certification frameworks, and pilot projects through grants and concessional funding \u2014 and can provide assurances, blended finance structures, and anchor investments that make projects more bankable. That means combining commercial debt, sovereign support, export credit agencies, and development finance institutions, Samir says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a domestic case to be made: <\/strong>Rather than exporting green hydrogen to decarbonize European industries, Egypt could use it domestically to clean up its own hard-to-abate sectors \u2014 then export the green end products, Fawzy argues. Developers could move faster by targeting sectors where demand already exists: green ammonia, methanol, and low-carbon fertilizers, where international buyers already have procurement programs in place, Samir adds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hard-to-abate industries would also gain an immediate edge under the EU\u2019s Carbon Border Adjustment Mechanism<\/strong>, while exports would generate foreign currency, attract international investment, and cement Egypt\u2019s position as a regional energy hub, Nageib says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Or\u2026 the government could become the offtaker itself. <\/strong>By raising natural gas prices for heavy industries to international spot market levels \u2014 then subsidizing locally produced green hydrogen down to USD 2.50\/kg \u2014 Egypt could push local factories to transition and export green steel, green cement, and other green commodities directly to Europe, bypassing the offtake deadlock entirely, Fawzy says. Targeted support mechanisms would reinforce the shift: land access, streamlined permitting, renewable energy integration, tax incentives, and concessional financing for decarbonization projects, according to Nageib.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OUR TAKE-<\/strong> Fawzy\u2019s domestic-offtake thesis is a sharp idea, but the political and fiscal architecture needed to deliver it is only partly in place. The first leg \u2014 raising industrial gas prices \u2014 has happened: a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\" style=\"\">USD 2\/mmBtu hike for energy-intensive sectors<\/a> under a May decree. But Cairo opted for a fixed hike over <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/02\/egypt-mulls-flexible-gas-pricing-to-shield-the-state-from-wartime-import-shocks\/\" style=\"\">the flexible, market-linked structure it had been considering<\/a> \u2014 prioritizing IMF-driven fiscal relief over strategic industrial reform. That\u2019s not a posture that easily extends to layering new subsidies on top: closing Fawzy\u2019s USD 1\/kg gap at the 2030 target of 1.5 mn tonnes implies USD 1.5 bn a year in fresh hydrogen subsidies, after two years of cutting subsidies on the IMF\u2019s instructions. The conversion capex on the demand side is a separate question again. The idea is the right one; whether Egypt can assemble the package to deliver it is what the next 18 months will tell us.<\/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-hydrogen\/\">green hydrogen<\/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=\"710659\" 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\/16\/710659\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-710659\" class=\"content-area-description single-story post-710659 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;\">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>19 August (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/connected-banking.com\/summit\/north-africa\/\" style=\"\">Connected Banking Summit<\/a><\/span><span style=\"font-weight:400;\">, Fairmont Nile City Hotel <\/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>8-10 September (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-air-show.com\/\" style=\"\">El Alamein International Airshow<\/a><\/span><span style=\"font-weight:400;\">, El Alamein International Airport <\/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>10-11 October (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/whs-egypt.net\/\" style=\"\">Egypt Women's Health Summit (EWHS)<\/a><\/span><span style=\"font-weight:400;\">, Cairo Marriott Hotel<\/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>EU kicks in EUR mns for grid upgrade | Privatization picks up momentum | ALCN sells port operator 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