{"id":554979,"date":"2021-11-25T13:46:31","date_gmt":"2021-11-25T13:46:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/tonight-happy-thanksgiving-yall-fresh-energy-projects-for-the-private-sector-from-emgf-plus-valu-eyes-cross-border-expansion\/"},"modified":"2021-11-25T13:46:31","modified_gmt":"2021-11-25T13:46:31","slug":"tonight-happy-thanksgiving-yall-fresh-energy-projects-for-the-private-sector-from-emgf-plus-valu-eyes-cross-border-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/tonight-happy-thanksgiving-yall-fresh-energy-projects-for-the-private-sector-from-emgf-plus-valu-eyes-cross-border-expansion\/","title":{"rendered":"TONIGHT: Happy Thanksgiving, y\u2019all. Fresh energy projects for the private sector from EMGF? Plus: valU eyes cross-border expansion."},"content":{"rendered":"<p><strong>Mabrouk, friends \u2014 we\u2019ve made it through the workweek.<\/strong> We can\u2019t believe it\u2019s already Thanksgiving today, which means we\u2019re starting the tumble towards the end of the year. Before you know it, we\u2019ll be staring down the face of the new year (and hopefully a proper winter season).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Speaking of winter: Some good news for parents looking for something to keep the kids<\/strong><strong> busy during the break:<\/strong> EGX-listed education outfit CIRA is bringing the US\u2019 IVY Camps to Egypt, starting off with an online winter camp next month, according to <a href=\"https:\/\/ent.news\/2021\/11\/IVY-Camps-powered-by-CIRA-PRL_November-24-2021.pdf\">a statement (pdf)<\/a>. The camp \u2014 which will cap each class capacity at six students \u2014 will focus on STEAM, business leadership, arts, media, and communications, in addition to providing pre-university courses for students heading to higher education soon. CIRA also plans to bring the camp offline to the North Coast as early as next June.<\/p>\n<p><strong>THE BIG STORY TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>#1- New energy projects in the pipeline for the private sector?<\/strong> The <a href=\"https:\/\/emgf.org\/\">East Mediterranean Gas<\/a><a href=\"https:\/\/emgf.org\/\">Forum<\/a> has several future projects lined up that will entail cooperation between the forum\u2019s member countries, international financial institutions, and the private sector, Oil Minister Tarek El Molla said at the forum\u2019s ministerial meeting earlier today, according to <a href=\"https:\/\/twitter.com\/CNBCArabia\/status\/1463836034010161156\">CNBC<\/a>. No further details were provided. Cyprus has also been tapped to take over the presidency of the forum for 2022, according to an <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/200936948887951?__cft__[0]=AZUrvcjeUF2S6pNC7VMGXD2rDU9g0WSipeO23Hu0zNVXk4WkgzKuTAuCUmBWKKk_rCoIDQPWytIXpy8EadrXYNxH21KpobF4_IzAWPZ6EAb-c9a9qve56vufYlxRMceTPXRNFdaz53Pi7A3qRvfs-Nwo&__tn__=%2CO%2CP-R\">Oil Ministry statement<\/a>. Cyprus\u2019 Permanent Secretary of the Energy, Commerce, and Industry Ministry Mario Panagides has also been tapped as the forum\u2019s executive board for next year. The forum, whose member states include Egypt, Greece, Cyprus, Jordan, Israel, Palestine, Italy and France, will hold its next meeting in June 2022.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>#2- EFG Hermes subsidiary valU is eyeing expansion into Saudi Arabia and North Africa as<\/strong><strong> early as next year<\/strong>, EFG Hermes Finance CEO Walid Hassouna told <a href=\"https:\/\/www.asharqbusiness.com\/article\/29248\/%D9%81%D8%A7%D9%84%D9%8A%D9%88-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%A7%D8%A8%D8%B9%D8%A9-%D9%84%D9%80%D9%87%D9%8A%D8%B1%D9%85%D9%8A%D8%B3-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%AF%D8%AE%D9%88%D9%84-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%B4%D9%85%D8%A7%D9%84-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7\">Bloomberg Alsharq.<\/a>The buy-now-pay-later firm\u2019s plans for cross-border expansion come as it is on track to record EGP 2 bn in revenues this year, doubling its 2020 figures, according to Hassouna.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Egypt\u2019s economy <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac19890f-00ac-42c9-97b8-ecfccc2d8e99\">grew 9.8%<\/a><\/strong><strong> in 1Q2021-2022 \u2014 its quickest pace in two decades<\/strong> \u2014 as it continued to rebound from last year\u2019s slump in activity caused by the covid-19 pandemic.<\/li>\n<li><strong>Booster shot rollout coming soon:<\/strong> The Health Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a24b8319-2d18-40e7-93fc-86aa7f9d5f8f\">has decided<\/a> to start handing out booster shots to vulnerable people and the elderly in the coming days amid elevated case rates at home and surging infection rates abroad.<\/li>\n<li><strong>Coca-Cola is pouring USD 1 bn into Egypt expansion:<\/strong> Coca-Cola Hellenic Bottling Company (HBC) is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14a975dd-ca33-4469-a266-88305a0769d1\">looking to invest<\/a> USD 1 bn in the Egyptian market over the next five years following its acquisition of Coca-Cola Bottling Company of Egypt<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD- <\/strong><\/p>\n<p><strong>The death of 27 migrants as they attempted to illicitly cross the English Channel<\/strong> this morning is topping headlines across the foreign press. London and Paris exchanged blame for the accident in the channel, which is known for its strong currents, with border control continuing to be a source of friction between the two countries. Four human traffickers were arrested by French police, but the nationalities and identities of the migrants remain unknown. <a href=\"https:\/\/www.reuters.com\/world\/five-migrants-drown-crossing-channel-france-britain-bfm-tv-2021-11-24\/\">Reuters<\/a>, <a href=\"https:\/\/www.bbc.com\/news\/uk-59406355\">BBC<\/a>, <a href=\"https:\/\/www.france24.com\/en\/live-news\/20211124-more-than-20-dead-after-migrant-boat-sinks-in-english-channel-french-police-say\">France24<\/a>, <a href=\"https:\/\/apnews.com\/article\/europe-france-migration-english-channel-551193aa7340b681d44af16eae9dc610\">AP<\/a>, and the <a href=\"https:\/\/www.ft.com\/content\/d0c322bf-2f62-4e2d-a0ab-47ab4db061ac\">FT<\/a> all have the story.<\/p>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Saudi Arabia and Russia could decide to hold off on planned oil supply increases<\/strong> to offset the impact of US President Joe Biden\u2019s decision earlier this week to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c881293b-debd-49bd-8243-00c63ef98242\">turn on the oil taps<\/a> and release release 50 mn bbl of crude oil from its Strategic Petroleum Reserve, the <a href=\"https:\/\/www.wsj.com\/articles\/opec-weighs-shift-in-oil-policy-after-crude-release-11637765371?mod=hp_lead_pos4\">Wall Street Journal<\/a> reports, citing unnamed sources familiar with the matter. It\u2019s still unclear whether Riyadh and Moscow will be able to sway the rest of the OPEC+ cartel to shift its policy at the next meeting <a href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/6690.htm\">scheduled for 2 December<\/a>, as Kuwait and the UAE are both \u201cresisting a pause,\u201d the newspaper says. WTI futures for January inched down another 0.18% today to trade at USD 78.25\/bbl as of dispatch time.<\/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>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>Rameda Pharma\u2019s <\/strong><strong><a href=\"https:\/\/bit.ly\/3bCRthH\">annual general meeting (pdf)<\/a><\/strong><strong> takes place today.<\/strong> The company will decide at the meeting on the sale of a 5% stake in the company from an individual shareholder to an unnamed institutional investor.<\/p>\n<p><strong>Startup gathering <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/857701738279267\/\">RiseUp<\/a><\/strong><strong> kicks off this evening <\/strong>and runs through Saturday.<\/p>\n<p><strong>Luxor\u2019s 3000-year-old Avenue of Sphinxes or Rams Road will be unveiled in an opening<\/strong><strong> ceremony this evening<\/strong>, according to the <a href=\"https:\/\/www.facebook.com\/100064546665021\/posts\/263144002513820\/?d=n\">Tourism Ministry<\/a>. The avenue features sphinxes and statues lined up on either side of a 3 km long walkway that connects the Karnak Temple with the Luxor Temple.<\/p>\n<p><strong>FOR TOMORROW-<\/strong> <strong>The <\/strong><strong><a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">Cairo International Film Festival<\/a><\/strong><strong> kicks off<\/strong> its weeklong run tomorrow.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>It\u2019s a new month next week.<\/strong> The key news triggers to keep your eye on as we approach December:<\/p>\n<ul>\n<li><strong>PMI:<\/strong> Purchasing managers\u2019 index figures for November for Egypt, Saudi Arabia, and Qatar will be released on Sunday, 5 December. Figures for the UAE, which normally drop on the same day as Egypt and Saudi, will be released two days later on Tuesday, 7 December.<\/li>\n<li><strong>Foreign reserves:<\/strong> November\u2019s foreign reserves figures will be released during the first week of the month.<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for November will be released on Thursday, 9 December. Data for inflation typically drops on the 10th of every month, but is moved up one day if that falls on a Friday.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee will hold its final meeting for the year to review interest rates on Thursday, 16 December.<\/li>\n<\/ul>\n<p><strong>PSA- Calling all college seniors and recent grads:<\/strong> You have until next Monday, 29 November to <a href=\"https:\/\/bit.ly\/3r8knzg\">register<\/a> for <strong>a career development training program<\/strong> from the CIT Ministry\u2019s Digital Egypt Youth initiative. The program will be held online in January 2022.<\/p>\n<p><strong>The new round of Silicon Waha\u2019s Startup Factory will kick off<\/strong> on 10 December at the Assiut Technology Zone. The program will offer marketing tips and tricks for startup founders, who can apply <a href=\"https:\/\/bit.ly\/Startupfactory\">here<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- The weather is heating up again: <\/strong>The mercury will go up to 27\u00b0C on Friday, 29\u00b0C on Saturday, and 30\u00b0C on Sunday, with the weather peaking on Monday at an unseasonably warm 32\u00b0C, our favorite weather app tells us. Nighttime lows will be in the range of 16-20\u00b0C in the coming days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mabrouk, friends \u2014 we\u2019ve made it through the workweek. We can\u2019t believe it\u2019s already Thanksgiving today, which means we\u2019re starting the tumble towards the end of the year. Before you know it, we\u2019ll be staring down the face of the new year (and hopefully a proper winter season). Speaking of winter: Some good news for [&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":[402,1953,73,84,633,491,360,91,128,449,270,219,112,515,1437,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554979","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-cira-education","tag-eastern-mediterranean-gas-forum","tag-education","tag-efg-hermes","tag-enterprisepm","tag-france","tag-illegal-immigration","tag-oil-and-gas","tag-opec","tag-rameda-pharma","tag-russia","tag-saudi-arabia","tag-uk","tag-valu","tag-walid-hassouna","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"a467f3e2-67ad-45db-a6d5-004ba483b1e7","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[554977],"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: Happy Thanksgiving, y\u2019all. Fresh energy projects for the private sector from EMGF? Plus: valU eyes cross-border expansion. - 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\/25\/tonight-happy-thanksgiving-yall-fresh-energy-projects-for-the-private-sector-from-emgf-plus-valu-eyes-cross-border-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TONIGHT: Happy Thanksgiving, y\u2019all. Fresh energy projects for the private sector from EMGF? Plus: valU eyes cross-border expansion.\" \/>\n<meta property=\"og:description\" content=\"Mabrouk, friends \u2014 we\u2019ve made it through the workweek. We can\u2019t believe it\u2019s already Thanksgiving today, which means we\u2019re starting the tumble towards the end of the year. Before you know it, we\u2019ll be staring down the face of the new year (and hopefully a proper winter season). 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We\u2019re punctuating the halfway point of the week with big news for CIRA Education, the private sector education services provider: THE BIG STORY TODAY CIRA Education majority owner to raise its stake with backing from PIF\u2019s SEIC: Saudi Egyptian Investment Company\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\/2024\/5\/396.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623677,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/09\/this-evening-cira-education-madinet-masr-klub-kayan-to-set-up-egp-2-4-bn-sports-focused-swiss-international-school-plus-suez-canal-revenues-continue-to-dip\/","url_meta":{"origin":554979,"position":3},"title":"THIS EVENING: CIRA Education, Madinet Masr, Klub Kayan to set up EGP 2.4 bn sports-focused Swiss international school. 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It seems that the pre-Eid holiday slowdown has begun as we start the 5-day countdown to the end of the businessweek.THE BIG STORIES TODAY #1- CIRA, Madinet Masr, Klub Kayan are setting up an EGP 2.4 bn sports-focused Swiss school: Our friends\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\/2024\/6\/748.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617376,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/this-evening-valu-plans-to-ipo-within-a-year-cbe-cancels-its-mpc-meeting\/","url_meta":{"origin":554979,"position":4},"title":"THIS EVENING: Valu plans to IPO within a year + CBE cancels its MPC meeting","author":"enterpriseam admin","date":"20 March 2024","format":false,"excerpt":"Good afternoon, folks, and happy almost-THURSDAY, which can\u2019t come fast enough when it\u2019s Ramadan. THE BIG STORY TODAY #1- Valu is coming to the EGX: EFG Holding\u2019s fintech platform Valu plans to offer between 20-25% of its shares on the EGX within a year, Valu CEO Walid Hassouna told Asharq\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\/2024\/2\/83.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":662618,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/19\/valu-inches-towards-an-egx-debut\/","url_meta":{"origin":554979,"position":5},"title":"Valu inches towards an EGX debut","author":"enterpriseam admin","date":"19 March 2025","format":false,"excerpt":"Good afternoon, ladies and gentlemen, and welcome to the homestretch. 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