{"id":554707,"date":"2021-11-07T13:28:35","date_gmt":"2021-11-07T13:28:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/tonight-ibnsina-is-setting-up-an-egp-440-logistics-provider-cairo-ict-and-transmea-get-underway\/"},"modified":"2021-11-07T13:28:35","modified_gmt":"2021-11-07T13:28:35","slug":"tonight-ibnsina-is-setting-up-an-egp-440-logistics-provider-cairo-ict-and-transmea-get-underway","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/tonight-ibnsina-is-setting-up-an-egp-440-logistics-provider-cairo-ict-and-transmea-get-underway\/","title":{"rendered":"TONIGHT: Ibnsina is setting up an EGP 440 logistics provider + Cairo ICT and TransMea get underway"},"content":{"rendered":"<p><strong>Good afternoon, ladies and gentlemen.<\/strong> It\u2019s been a relatively calm Sunday so far, but it\u2019s shaping up to be an interesting day for the business community as we\u2019re getting news of fresh investments in everything from logistics to a new VC fund. The rest of the week is also looking eventful (at least on the politics \/ diplomacy side), as Foreign Minister Sameh Shoukry heads to Washington tomorrow as Egypt appears to have been snubbed from a \u201cdemocracy summit\u201d next month.<\/p>\n<p><strong>THE BIG STORIES TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>#1- EGX-listed Ibnsina Pharma\u2019s investment arm is investing EGP 440 mn in establishing<\/strong><strong> a logistics service provider.<\/strong> The third-party logistics business, Ramp Logistics, will focus on warehousing, transportation and outsourcing other 3PL services, according to <a href=\"https:\/\/ent.news\/2021\/11\/Ibnsina-Ramp-Logistics-investment.pdf\">an EGX disclosure (pdf)<\/a>.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>#2- <\/strong><strong>Benya Capital is launching a USD 50 mn VC fund<\/strong> as the IT infrastructure contractor eyes a larger expansion strategy, Chairman Ahmed Mekky said ahead of the Cairo ICT Expo, according to <a href=\"https:\/\/alborsaanews.com\/2021\/11\/07\/1478934\">Al Borsa<\/a>. The VC fund will focus primarily on tech, IoT and AI startups in Africa.<\/p>\n<p><strong>#3- Saudi investment company <\/strong><strong><a href=\"http:\/\/www.rajhi-invest.com\/index-en.html\">Rajhi-Invest<\/a><\/strong><strong> has joined education investment fund<\/strong><strong> Lighthouse Education platform, investing EGP 75 mn<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/11\/PRL-Rajhi-Invest-Lighthouse-AR-V1-copy-copy.pdf\">press release (pdf)<\/a>. Total investment has now exceeded the EGP 500 mn <a href=\"https:\/\/enterprise.press\/blackboards\/lighthouse-education-takes-off-big-plans-sector\/\">targeted for its first close<\/a>, the statement notes.<\/p>\n<p><strong>^^ We\u2019ll dive into these stories and more in tomorrow morning\u2019s edition of EnterpriseAM.<\/strong><\/p>\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><strong>Two conferences open their doors at the Egypt International Exhibition Center today: <\/strong>The four-day transport conference <a href=\"https:\/\/trans-mea.com\/\">TransMea 2021<\/a>, and the 2021 <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a> exhibition, which also wraps on Wednesday.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>EBRD is more optimistic about Egypt\u2019s growth outlook:<\/strong> Egypt\u2019s economy is on track to grow 4.9% in FY2021-2022, the European Bank for Reconstruction and Development (EBRD) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e5f83be-4912-4f77-aa51-2f7c8d9e4267\">said in its latest Regional Economic Prospects report<\/a> on Thursday.<\/li>\n<li><strong>Suez Canal transit fees <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36bf88d1-efc3-4194-aa9a-23a4defc0035\">are set to increase<\/a><\/strong><strong> by 6% for most ships starting February 2022<\/strong>, as the Suez Canal Authority looks to capitalize on rising traffic, which it expects to increase by almost 7% next year.<\/li>\n<li><strong>The Sisi administration wants to grow renewable energy capacity to cover 42% of the country\u2019s electricity needs by 2030<\/strong>, Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">announced<\/a> at the UN\u2019s COP26 climate summit in Glasgow on Thursday.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>There\u2019s no one story dominating the front pages of the global press this afternoon. That<\/strong><strong> said, China is getting a lot of play:<\/strong> A stronger than expected boost in the country\u2019s exports in October suggests the country\u2019s economic slowdown could be easing, <a href=\"https:\/\/www.reuters.com\/world\/china\/china-oct-exports-beat-forecasts-offer-buffer-slowing-domestic-economy-2021-11-07\/\">Reuters<\/a> reports, while coal imports to China doubled as the government seeks to bring down prices amid nationwide fuel shortages, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-07\/china-s-coal-imports-double-after-power-shortage-boosted-demand?sref=mmeFTDW1\">Bloomberg<\/a>. The coal tidbit is particularly interesting considering tens of countries and organizations <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17f4feb1-0f1a-483e-8515-a4aea2f91682\">signed an agreement<\/a> at COP26 last week to phase out the use of coal power. China did not sign onto the pact, despite being one of the world\u2019s major emitters.<\/p>\n<p><strong>Meanwhile, plenty are keeping their gaze firmly fixed on Washington politics: <\/strong>US President Joe Biden has managed to pass a controversial USD 1 tn infrastructure bill \u2014 but he still has to contend with an electoral backlash and deep divides among Democrats. (<a href=\"https:\/\/www.nytimes.com\/2021\/11\/06\/us\/rural-vote-democrats-virginia.html\">New York Times<\/a> | <a href=\"https:\/\/www.ft.com\/content\/fa0282fd-e8dc-43f1-8222-39e1efdc262e\">Financial Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/biden-infrastructure-presidency\/2021\/11\/06\/4eaa5372-3f05-11ec-8ee9-4f14a26749d1_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/biden-infrastructure-bill-roads-bridges-broadband-11636214099?cx_testId=3&cx_testVariant=cx_2&cx_artPos=1&mod=WTRN#cxrecs_s\">Wall Street Journal<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>ALSO- Egypt didn\u2019t make the guest list for US President Joe Biden\u2019s democracy summit<\/strong>, which is set to bring more than 100 countries together in Washington on 9-10 December for talks on protecting rights and freedoms globally, <a href=\"https:\/\/www.reuters.com\/world\/bidens-democracy-summit-problematic-invite-list-casts-shadow-impact-2021-11-07\/\">Reuters<\/a> reports. The summit is seen as a key test of Biden\u2019s pledge to return the US to global leadership following Donald Trump\u2019s more isolationist (and embarrassing) tenure.<\/p>\n<p><strong>Some invitees\u2019 policies are less than democratic:<\/strong> Rights campaigners have branded the tentative invite list \u201cproblematic,\u201d questioning the inclusion of countries like the Philippines and Poland, where civil rights have long been shrinking. Iraq and Israel are the only countries in the Middle East to have made the cut.<\/p>\n<p><strong>The snub comes as Shoukry heads to the US for high-level talks tomorrow:<\/strong> Foreign Minister Sameh Shoukry will hold talks with US Secretary of State <strong>Antony Blinken<\/strong> during the two-day US-Egypt Strategic Dialogue, which kicks off tomorrow, the <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/193276639648857\">Egyptian Foreign Ministry<\/a> and the <a href=\"https:\/\/www.state.gov\/u-s-egypt-strategic-dialogue-november-8-9\/\">US State Department<\/a> said in separate statements over the weekend. The meetings, which will also be attended by senior officials from USAID and the Department of Defense, will cover \u201cinternational, regional, human rights and bilateral cooperation on economic, judicial, security, educational and cultural issues,\u201d the State Department said.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Inflation:<\/strong> Inflation figures for October will be released this Wednesday, 10 November.<\/p>\n<p><strong>Public sector workers have until next Monday, 15 November to get vaccinated<\/strong> or risk not being allowed into their workplaces.<\/p>\n<p><strong>The two-day <\/strong><strong><a href=\"https:\/\/africafintechsummit.com\">Africa FinTech summit<\/a><\/strong><strong> kicks off next Tuesday, 16 November.<\/strong> The summit looks at innovation in the fintech ecosystem, venture capital and other forms of investing, and will also discuss the rise of healthtech.<\/p>\n<p><strong>The British are coming:<\/strong> British royal family members Prince Charles and the Duchess of Cornwall will be in town next Thursday and Friday, 18 and 19 November.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>It\u2019s nowhere near sweater season yet, with an unseasonably warm daytime high of 30\u00b0C tomorrow. The mercury will cool off in the evening, falling to a low of 20\u00b0C, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen. It\u2019s been a relatively calm Sunday so far, but it\u2019s shaping up to be an interesting day for the business community as we\u2019re getting news of fresh investments in everything from logistics to a new VC fund. The rest of the week is also looking eventful (at least on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[1721,1900,633,301,200,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554707","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-antony-blinken","tag-benya-capital","tag-enterprisepm","tag-sameh-shoukry","tag-venture-capital","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"6e488c8a-03e8-4aae-94ee-d0f8ee169ca9","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[554705],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TONIGHT: Ibnsina is setting up an EGP 440 logistics provider + Cairo ICT and TransMea get underway - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/tonight-ibnsina-is-setting-up-an-egp-440-logistics-provider-cairo-ict-and-transmea-get-underway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TONIGHT: Ibnsina is setting up an EGP 440 logistics provider + Cairo ICT and TransMea get underway\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen. 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The third-party logistics business is set to provide warehousing and transport services, and will be 99% owned by AIM.Ramp Logistics is planning both sector and\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/359.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554727,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/08\/tonight-shoukry-heads-to-dc-for-high-level-talks-alstom-lands-biggest-rolling-stock-contract-for-cairo-metro-line-1\/","url_meta":{"origin":554707,"position":1},"title":"TONIGHT: Shoukry heads to DC for high-level talks + Alstom lands biggest rolling stock contract for Cairo Metro Line 1","author":"enterpriseam admin","date":"8 November 2021","format":false,"excerpt":"Could we be getting more climate funding? It seems so, ladies and gentlemen, with developed nations pledging at COP26 more climate funding for developing countries and emerging markets. In local news, the Transport Ministry\u2019s TransMEA conference and agreements signed there led coverage so far.THE BIG STORIES TODAY #1- CGT doesn\u2019t\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":552831,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/03\/this-evening-kuwaits-agility-logistics-to-invest-usd-60-mn-in-customs-logistics-hubs-uk-govt-makes-about-face-on-income-tax-cut-amid-market-turmoil\/","url_meta":{"origin":554707,"position":2},"title":"THIS EVENING: Kuwait\u2019s Agility Logistics to invest USD 60 mn in customs, logistics hubs + UK gov\u2019t makes about-face on income tax cut amid market turmoil","author":"enterpriseam admin","date":"3 October 2022","format":false,"excerpt":"Good afternoon, friends. There are some interesting moves on logistics and infrastructure investments happening here on the home front, while the UK is still capturing the imagination of the international business press as PM Liz Truss\u2019 government flip-flops on some very controversial policies. Oh, and it\u2019s Nobel Prize week.THE BIG\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":585249,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/12\/zerozerozero-the-logistics-of-narcotics-shipments-across-the-world\/","url_meta":{"origin":554707,"position":3},"title":"ZeroZeroZero: The logistics of narcotics shipments across the world","author":"enterpriseam admin","date":"12 April 2023","format":false,"excerpt":"The Lynwoods make their fortune sending illicit goods as a shipping company","rel":"","context":"In &quot;ENTERPRISE RECOMMENDS&quot;","block_context":{"text":"ENTERPRISE RECOMMENDS","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-recommends-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554410,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/this-evening-has-big-tobacco-swayed-the-state-on-the-tobacco-license-tender-elsewedy-edita-go-big-on-africa-expansions\/","url_meta":{"origin":554707,"position":4},"title":"THIS EVENING: Has Big Tobacco swayed the state on the tobacco license tender? + Elsewedy, Edita go big on Africa expansions","author":"enterpriseam admin","date":"6 December 2021","format":false,"excerpt":"Today is a big news day for Egyptian companies investing abroad, ladies and gentlemen, with Elsewedy Electric and Edita both announcing key updates to their African investments this week. 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But before we dive deeper into these\u2026THE BIG STORIES TODAY- Did Big Tobacco get its\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554491,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/tonight-ezz-steel-wants-to-buy-abou-hashimas-remaining-stake-in-egyptian-steel-chg-tender-offer-opens-tomorrow-shoukry-in-riyadh-bennett-in-abu-dhabi\/","url_meta":{"origin":554707,"position":5},"title":"TONIGHT: Ezz Steel wants to buy Abou Hashima\u2019s remaining stake in Egyptian Steel + CHG tender offer opens tomorrow + Shoukry in Riyadh + Bennett in Abu Dhabi.","author":"enterpriseam admin","date":"12 December 2021","format":false,"excerpt":"Good afternoon, friends, and bravo on finishing the first day of what looks set to be a busy week as one and all rush to get deadlines met, transactions finalized, t\u2019s crossed and i\u2019s dotted before the end-of-year lull. 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