{"id":643795,"date":"2024-09-16T00:00:00","date_gmt":"2024-09-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/16\/is-ras-banas-the-new-ras-el-hekma\/"},"modified":"2024-09-16T00:00:00","modified_gmt":"2024-09-16T00:00:00","slug":"is-ras-banas-the-new-ras-el-hekma","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/16\/is-ras-banas-the-new-ras-el-hekma\/","title":{"rendered":"Is Ras Banas the new Ras El Hekma?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, and a warm welcome back after the long weekend.<\/strong> We\u2019re kicking off the shorter-than-usual work week with an issue packed to the brim with energy news, diplomatic efforts, investment updates, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But before we get started, w<\/strong><strong>e\u2019re almost a week away from this year\u2019s<\/strong><strong> EnterpriseAM Finance Forum<\/strong>, taking place on Tuesday, 24 September, and we\u2019re taking the lid off the agenda <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>Headlining the EnterpriseAM Finance Forum: <\/strong>We\u2019ll be joined for the first time on stage by a senior government official, who\u2019s joining us to outline a vision for where we\u2019re going as a community and as an economy. The keynote interview will get underway at 9am sharp, and you won\u2019t want to miss our exclusive networking breakfast from 8am.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the topics on the agenda<\/strong>, which <a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/#agenda\" style=\"\" rel=\"noopener\">you can view here<\/a>:<\/p>\n<ul>\n<li><strong>Welcome to the hot seat<\/strong> \u2014 top industry CEOs set the tone by addressing the biggest (and toughest) questions of the day. <\/li>\n<li><strong>Looking from the outside in<\/strong> \u2014 what foreign investors and strategics think about Egypt right now.<\/li>\n<li><strong>The only asset class in town \u2014<\/strong> It\u2019s real estate or nothing. We\u2019ll get into the ins and outs of the industry, how it\u2019s financing itself, which areas (and price points) are next, and more. <\/li>\n<li><strong>Gazing into that crystal ball <\/strong>\u2014 The outlook for dealflow in 2025, from M&amp;A and IPOs to securitization, FX and more. <\/li>\n<li><strong>A once in a generation opportunity? <\/strong>\u2014 A deep dive into the promise and pitfalls of the emerging energy economy.<\/li>\n<li><strong>Do we really love banking SMEs? <\/strong>\u2014 With NBFIs and fintech players staking their claims, banks are starting to take the SME market seriously.<\/li>\n<li><strong>The NBFI panel<\/strong> \u2014 The resilience of the Egyptian consumer is the business story of the decade. How are banks and NBFS players building sustainable businesses? What are the opportunities \u2014 and credit worries \u2014 in the B2B space?<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Haven\u2019t requested an invitation yet? Do it today \u2014 space is limited. <\/strong><strong><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\" rel=\"noopener\">Tap or click here<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\" rel=\"noopener\">to<\/a><a target=\"_blank\" href=\"https:\/\/finance2024.enterprise.news\/\" style=\"\" rel=\"noopener\">let us know you\u2019re interested<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** IMPORTANT NOTE \u2014 If you\u2019ve already received your invitation on email, you *must* <\/strong><strong>click through to confirm you\u2019re attending. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1078.jpg?ssl=1\"><\/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- It\u2019s a cooler than usual day in Cairo today<\/strong>, with a high of 33\u00b0C and a low of 24\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Temperatures are also down in Alexandria<\/strong>, with a high of 30\u00b0C and a low of 24\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>Egypt prepares Ras Banas for Ras El Hekma-esque investment plan:<\/strong> The Madbouly government is in the process of drafting an investment plan to offer the Red Sea\u2019s Ras Banas to private sector players in a transaction similar to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">ADQ\u2019s Ras El Hekma USD 35 bn agreement<\/a>, Housing Minister Sherif El Sherbiny told reporters on Saturday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX from foreign investors, EGP from local investors: <\/strong>Although investors from abroad will invest FX into projects, Egyptian investors will be able to use invest in EGP so as not to put further FX withdrawal strain on the Central Bank of Egypt and to avoid the blackmarket returning, El Sherbiny added.<\/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\"><a id=\"wwtt2\"><\/a> <strong>The Egypt-UK investment conference is here: <\/strong>Our friends at HSBC, together with <a target=\"_blank\" href=\"https:\/\/www.ukexportfinance.gov.uk\/\" style=\"\" rel=\"noopener\">UK Export Finance<\/a> and <a target=\"_blank\" href=\"https:\/\/www.theebcc.com\/\" style=\"\" rel=\"noopener\">Egyptian-British Chamber of Commerce<\/a>, are hosting the <a target=\"_blank\" href=\"https:\/\/www.the-ta.com\/upcoming-events\/egypt-uk-investment-forum-16th-sept-in-london-uk\/\" style=\"\" rel=\"noopener\">Egypt-UK Investment and Opportunities Forum<\/a> in London today. The conference will showcase investment opportunities in Egypt across different sectors \u2014 including renewable energy, water, automotive, food processing, IT, and AI \u2014 to potential investors from the UK. It will also facilitate matchmaking between institutions of both countries, bringing together government representatives, business leaders, and senior executives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the agenda:<\/strong> The event will feature presentations by GAFI head Hossam Heiba on supporting a sustainable investment climate, SCZone head Walid Gamal El Din on the economic zone\u2019s investment proposition, and Advisor to the Vice Finance Minister Nevine Mansour on economic reform. The presentations will be followed by two panel discussions with large local and international companies \u2014 the first of which will discuss Egypt's growth potential and infrastructure and the second focusing on investment opportunities and success stories. The event will also offer three hours for one-on-one meetings (which must be scheduled in advance) and networking.<\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- BEBA is on a mission to seek out investments in the UK: <\/strong>The British Egyptian Business Association (BEBA) is leading a business mission to the UK from 18-20 September under the theme <a target=\"_blank\" href=\"https:\/\/beba.org.eg\/egypts-financial-landscape-emerging-opportunities-and-global-investments\/\" style=\"\" rel=\"noopener\">Invest in Egypt: Your Gateway to Growth<\/a>. The mission will include Finance Minister Ahmed Kouchouk, Investment Minister Hassan El Khatib, SCZone head Walid Gamal El Din, ACUD Chairman Khaled Abbas, and Financial Regulatory Authority boss Mohamed Farid, who will take part in ministerial sessions that aim to highlight the country\u2019s \u201ceconomic progress and ongoing reforms.\u201d <\/p>\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\"><strong>#2- How will the fresh tax incentives be implemented?<\/strong> The Egyptian Tax Authority will unveil the implementation mechanisms of the recently-announced package of tax incentives this week, advisor to the head of the Tax Authority Saeed Fouad told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/AsharqbEGY\/posts\/pfbid035qf5hEBmzg8Do1TzoY9hH58Jc2FyJdEm8PLk81Y4nwcXf3bx8uieaxjEBbUgBHCBl\" style=\"\" rel=\"noopener\">Asharq Business<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/807171d5-8e33-400a-b8de-8529aaf832b0\/\" style=\"\" rel=\"noopener\">last week announced<\/a> the first batch of new amendments to the tax system, which aim to ease the burden on taxpayers and build greater trust in the tax system, from filing tax returns to resolving disputes and integrating the informal economy.<\/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\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/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 target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The tenth edition of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/alex.technesummit.com\/2024\" style=\"\" rel=\"noopener\">Techne Summit Alexandria<\/a><\/strong><strong> will be held from 5-8 October<\/strong> in what event organizers bill as an \u201cinternational multi-industry focused investment &amp; entrepreneurship event that aims to impact multiple sectors and stakeholders of the startup communities in the Mediterranean region.\u201d The four-day event is expected to draw in over 30k attendees, 1k startups, 200 investors, and 400 speakers who will take part in a \u201ca diverse lineup of panels, fireside chats, roundtable discussions, workshops, meet-and-greets, one-on-one mentorship, networking events, community activities, and exhibitions.\u201d Secure your tickets <a target=\"_blank\" href=\"https:\/\/alex.technesummit.com\/2024#tickets\" style=\"\" rel=\"noopener\">here<\/a>. <\/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:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">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 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>Business news is having a hard time getting ink on the digital front pages this morning<\/strong><strong> as another possible Trump assassination late yesterday continues to dominate the global press. <\/strong>Republican presidential candidate Donald Trump was <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/authorities-say-trump-is-safe-after-gun-shots-nearby-654b6fab\" style=\"\" rel=\"noopener\">targeted<\/a> in what appeared to be another assassination attempt yesterday while golfing at his golf course in West Palm Beach, Florida. Trump was <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dfae8b42-1159-4e75-ba74-4734352e7d89\" style=\"\" rel=\"noopener\">deemed safe<\/a> after US Secret Service agents attached to the former president spotted a rifle barrel in a bush and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-is-safe-following-gunshots-his-vicinity-says-campaign-2024-09-15\/\" style=\"\" rel=\"noopener\">engaged<\/a> the gunman in fire, before arresting a suspect later, who was <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-15\/trump-safe-after-secret-service-fires-shots-at-his-golf-course?srnd=homepage-americas&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">identified<\/a> as 58-year-old Ryan Routh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump\u2019s would-be assassins missed, but Harris\u2019 attacks on his economic record seem<\/strong><strong> to have hit on target<\/strong>, with US voters trusting the Democrat candidate to steward the US economy over her Republican challender a thin margin of 2 percentage points according to the latest FT-Michigan Ross poll, up 1 percentage point from last month, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5f68cc51-f608-4fab-bfa3-8a9187236116\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes. Harris holds an even higher advantage among those that tuned into last week\u2019s US presidential debate, with 48% saying that they trusted Harris more to manage the economy compared to Trump\u2019s 42%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN BUSINESS NEWS- NYC-based VC firm Insight Partners is close to finalizing a<\/strong><strong> new tech fund worth at least USD 10 bn<\/strong> in a <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/566213ea-c445-4b70-b5f2-8451111fcfef\" style=\"\" rel=\"noopener\">sign that tech investors are tiptoeing back<\/a> into what has been a very tepid VC market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND OVER IN THE MEDIA SPHERE- Berlin-based media giant Axel Springer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/4e49eff2-eeb1-4b82-a5be-d4f76fa74b8b\" style=\"\" rel=\"noopener\">may soon see an agreement<\/a><\/strong> <strong> to split up its profitable classifieds business \u2014 valued at USD 15 bn \u2014 and its media outlets,<\/strong> which include US news sites Politico and Business Insider in addition to German publications Bild and Die Welt.<\/p>\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\/2024\/5\/2495.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 Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/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\u2019ll be looking at the government\u2019s plans to attract more international foreign students into Egyptian public, national, and private universities, and how doing so could affect the number of university seats available for local students.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, and a warm welcome back after the long weekend. We\u2019re kicking off the shorter-than-usual work week with an issue packed to the brim with energy news, diplomatic efforts, investment updates, and more. But before we get started, we\u2019re almost a week away from this year\u2019s EnterpriseAM Finance Forum, taking place on Tuesday, 24 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":643796,"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":[7204],"tags":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"6279e7a2-c821-416e-b98b-046943892ea7","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/9\/1115.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Is Ras Banas the new Ras El Hekma?","related_issue":[643793],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.c5e7a39f-40c6-43fd-88c5-00f5ca578cb4.mp3"},"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>Is Ras Banas the new Ras El Hekma? - 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\/2024\/09\/16\/is-ras-banas-the-new-ras-el-hekma\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Ras Banas the new Ras El Hekma?\" \/>\n<meta property=\"og:description\" content=\"Good morning, and a warm welcome back after the long weekend. We\u2019re kicking off the shorter-than-usual work week with an issue packed to the brim with energy news, diplomatic efforts, investment updates, and more. 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Foreign Minister Sameh Shoukry and his Portuguese counterpart Augusto Santos Silva will be attending the forum.\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634908,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/29\/what-were-tracking-this-week-78\/","url_meta":{"origin":643795,"position":1},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"29 January 2018","format":false,"excerpt":"CI Capital will hold its MENA Investor Conference tomorrow at the Four Seasons Nile Plaza. 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It\u2019s a calm day on the news front, and we\u2019ve got a rather brisk issue for you today. THE BIG STORY TODAY- A Gulf sovereign fund is set to announce a new Ras Shukeir project, with a focus on infrastructure and energy development, according to a Finance\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\/2025\/6\/682.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":652877,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/22\/what-were-tracking-this-week-221\/","url_meta":{"origin":643795,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"22 January 2017","format":false,"excerpt":"The Meteorological Authority warns citizens of driving in the early mornings, as that heavy fog we\u2019ve been seeing all week will intensify today and continue until Wednesday, Ahram Online reports.We don\u2019t know about you, but we\u2019re bridging this week. 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