{"id":115841,"date":"2026-06-17T00:00:00","date_gmt":"2026-06-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?post_type=issue&#038;p=115841"},"modified":"2026-06-17T07:46:06","modified_gmt":"2026-06-17T07:46:06","slug":"who-controls-the-east-med","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/menaplus\/issues\/who-controls-the-east-med\/","title":{"rendered":"Who controls the East Med?"},"content":{"rendered":"<section id=\"115843\" 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=\"115843\">\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\">OPENING NOTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/maybe-finally\/\">\r\n                            Maybe, finally?                        <\/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\/menaplus\/2026\/06\/17\/maybe-finally\/\" 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\/menaplus\/2026\/06\/17\/maybe-finally\/')\">\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\/menaplus\/2026\/06\/17\/maybe-finally\/\">\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=Maybe, finally?&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/maybe-finally\/\">\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\/menaplus\/2026\/06\/17\/maybe-finally\/&title=Maybe, finally?\">\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=Maybe%2C+finally%3F+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F17%2Fmaybe-finally%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\/menaplus\/2026\/06\/17\/maybe-finally\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115843\" class=\"content-area-description single-story post-115843 post type-post status-publish format-standard hentry category-opening-note tag-enterpriseam tag-geopolitics tag-opening-note 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> For the first time in a long while we\u2019re writing with the wind in our backs: The framework that could end America and Israel\u2019s war with Iran is on paper. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The headline number is USD 300 bn.<\/strong> That\u2019s the private development fund at the heart of the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-16\/read-the-14-point-draft-memorandum-between-the-us-and-iran?srnd=homepage-middle-east\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-16\/read-the-14-point-draft-memorandum-between-the-us-and-iran?srnd=homepage-middle-east\" style=\"\">14-point draft<\/a> the two sides are set to sign Friday, earmarked for energy, logistics, manufacturing, and transport in Iran. More than half of it is <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/iran-deal-includes-300-billion-fund-more-than-half-which-already-committed-2026-06-16\/\" style=\"\">already committed<\/a>, sources tell Reuters \u2014 which tells you everything about how much capital has been idling on the sidelines waiting for the all-clear. The US lifts sanctions and releases frozen assets; Tehran reiterates it will never build a bomb, with the thorny questions on enriched material punted to a final agreement due within 60 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Markets barely waited for the ink to dry.<\/strong> Oil is <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/136788\/\" style=\"\">sliding<\/a> on expectations that Hormuz traffic returns to pre-war levels within 30 days of signing \u2014 helped along by reports the GCC has quietly been pushing more crude through the strait than anyone realized. Goldman has already <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/16\/goldman-cuts-oil-forecast-as-hormuz-deal-brings-forward-supply-recovery.html\" style=\"\">taken the knife to its forecast<\/a>, rate-hike expectations are <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/136681\/\" style=\"\">dropping<\/a> ahead of the Fed, and Qatar says it can <a target=\"_blank\" href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Qatar-Eyes-Quick-LNG-Restart-Once-Hormuz-Reopens.html\" style=\"\">restart most of its LNG capacity<\/a> faster than the doomsayers predicted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Before we pop the bubbly:<\/strong> Plenty of Wall Street analysts <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/06\/15\/wall-street-analysts-still-have-doubts-this-iran-deal-is-for-real.html\" style=\"\">still aren\u2019t sure this is for real<\/a>, and the fine print \u2014 who pays whom, and whether Lebanon is <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/iran-us-war-israel-lebanon-oil-june-16-2026-d79458506c46e3f4a78aef0f9d8b9250\" style=\"\">part of the package<\/a>, as Iran insists and Israel denies \u2014 is exactly where these things tend to come apart. Stop us if you\u2019ve heard this song before. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your legally mandated AI aside this morning:<\/strong> Anthropic, the company behind Claude, just <a target=\"_blank\" href=\"https:\/\/www.anthropic.com\/news\/fable-mythos-access\" style=\"\">pulled the plug<\/a> on two of its models \u2014 Fable 5 and Mythos 5 \u2014 on orders from the US government, which wants them blocked from every foreign national on the planet. The reason? Washington reportedly believes there\u2019s a jailbreak that lets Fable 5 sniff out software vulnerabilities. \u2013Salma <\/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\/menaplus\/tag\/geopolitics\/\">geopolitics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/opening-note\/\">Opening Note<\/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=\"115844\" 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=\"115844\">\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 LEDE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/\">\r\n                            Flow control                        <\/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\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/\" 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\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/')\">\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\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/\">\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=How Egypt and Turkey are competing to control East Med gas infrastructure&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/\">\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\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/&title=How Egypt and Turkey are competing to control East Med gas infrastructure\">\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=How+Egypt+and+Turkey+are+competing+to+control+East+Med+gas+infrastructure+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F17%2Fhow-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure%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\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115845\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/how-egypt-and-turkey-are-competing-to-control-east-med-gas-infrastructure\/926-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"926.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/2\/926.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115844\" class=\"content-area-description single-story post-115844 post type-post status-publish format-standard has-post-thumbnail hentry category-the-lede tag-egypt tag-energy tag-enterpriseam tag-the-lede tag-turkey 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>Who owns the East Med?<\/strong> A decade ago, the answer would have been simple: whoever produced the most gas. Today, influence over regional gas belongs not to countries with the largest reserves but to those controlling the infrastructure gas must pass through \u2014 and Egypt and Turkey are increasingly emerging as the clear frontrunners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But ask analysts who wins the race \u2014 Egypt or Turkey \u2014 and you get three diverging <\/strong><strong>answers.<\/strong> One says Turkey, on the strength of a flexibility-driven system it has spent a decade building and is now largely operational. The other points to Egypt, citing the USD tens of bns of liquefaction infrastructure already sunk in the ground and a pipeline head start into the Levant that Ankara is yet to match. A third tells us the framing is wrong \u2014 the two are complements, not rivals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Underneath the split lies a shift \u2014 the gas hub has become a tolling business. <\/strong>A country collects a fee each time gas is liquefied, regasified, stored, shipped, or pushed across a border, no matter who owns the molecules. \u201cThe most common misconception is that a gas hub is simply a place where gas passes through,\u201d Energos Infrastructure CEO Arthur Regan tells EnterpriseAM. \u201cIn reality, successful hubs create value through infrastructure, connectivity, optionality, and flexibility.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A gas hub used to mean a place with gas. A tolling hub means a place that owns the conversion infrastructure \u2014 liquefaction plants that supercool gas into LNG for shipping, regasification terminals (increasingly floating ones, or FSRUs) that turn it back into pipeline gas, plus storage and cross-border pipelines. The owner charges a service fee at each step, like a toll booth. <\/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\">Rising competition<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The race is split along two models:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.energy.gov\/sites\/prod\/files\/2017\/09\/f36\/Understanding%20Natural%20Gas%20and%20Lng%20Options_general%20no%20appendix.pdf\" style=\"\">Pipelines<\/a>, which is the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/reports\/the-role-of-gas-in-todays-energy-transitions\" style=\"\">simplest and cheapest<\/a> route but limited to connected neighbors, and <a target=\"_blank\" href=\"https:\/\/www.eia.gov\/energyexplained\/natural-gas\/liquefied-natural-gas.php\" style=\"\">supercooled cargoes<\/a>, which can travel anywhere but need liquefaction and regasification terminals at either end. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Both ends are heating up at once.<\/strong> Egypt is deepening its bid for the tolling model \u2014 pulling in Israeli and (in the future) Cypriot gas for re-export and standing up a fleet of FSRUs as its own production slides. Turkey is diversifying its sources, reeling in LNG contracts from different suppliers and pipeline gas from neighboring gas-rich countries like Azerbaijan. Essentially, both are angling for returns from the assets connecting producers to consumers, betting this could be as lucrative as the gas itself. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two models have much in common: <\/strong>Both are now heavy gas importers, not the exporters they once were or hoped to be. Egypt <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/01\/why-our-gas-sector-is-leaning-heavily-on-lng-imports\/\" style=\"\">brought<\/a> in a record 13.1 bn cubic meters (bcm) of LNG in 2025 as domestic output fell, Israeli flows halted, and summer demand climbed. Turkey imported roughly <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/energy\/en\/news-research\/latest-news\/lng\/050626-turkish-gas-and-lng-imports-grow-targets-to-become-a-regional-gas-hub\" style=\"\">17 bcm<\/a> the same year, with its own production covering only a sliver of consumption. Both want to pull in East Med volumes, make themselves harder for Europe to do without, and convert infrastructure into leverage. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cBoth understand that future geopolitical relevance will depend not only on domestic<\/strong><strong> resources, but also on control over infrastructure<\/strong>,\u201d Blue Water Strategy Senior Advisor Cyril Widdershoven tells EnterpriseAM. \u201cAs a result, the competitive gap between the two countries is narrowing.\u201d<\/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\">Assessing the structural advantage(s)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s edge was built in another era, when it was a net exporter.<\/strong> It is still home to the East Med\u2019s only large-scale LNG export infrastructure \u2014 the Idku and Damietta liquefaction plants \u2014 with a combined nameplate <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/04\/01\/today-al-seer-marine-bgn-secure-financing-for-vlgcs-agility-plans-to-list-subsidiary-on-adx\/\" style=\"\">capacity<\/a> of about 16.7 bcm a year (12 bn tons in LNG). A facility like Idku would take a competitor five to seven years and more than USD 10 bn to replicate, which is the whole point \u2014 the infrastructure is already paid for and the goal now is to keep it fully operational.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s where Cyprus comes in.<\/strong> Gas from the 3.7 tn cubic feet (tcf) Aphrodite and 3 tcf Cronos fields is set to feed Egyptian plants between 2027 and 2031. Cyprus has gas but not enough to justify building its own multi-bn-USD terminal; Egypt has the terminals but increasingly needs imported gas to run them. \u201cCyprus doesn't have a choice,\u201d a veteran analyst who has tracked Egypt's hub ambitions for 15 years tells us on condition of anonymity. \u201cThe fields they found are not big enough to justify building their own LNG export facility. Egypt is really the only option Cyprus has.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel both proves Egypt\u2019s model and exposes its weakness.<\/strong> Gas from the Leviathan and Tamar fields already flows into Egypt to be consumed or re-exported, but repeated regional flare-ups have shut those fields down more than once \u2014 a reminder of the risk in leaning too hard on a single (and fickle) source. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hence the push for imports and optionality through regasification infrastructure.<\/strong> Egypt now runs a fleet of FSRUs with combined peak regasification capacity for roughly 2.7 bcf\/d. FSRUs are floating units (vessels, technically) that it can deploy far faster than the alternative \u2014 which is fixed onshore terminals that usually take \u201ca minimum of 7 to 10 years to build\u201d and 20 years or more to pay back, Excelerate Energy Chief Cargo Officer Mykyta Shepchenia tells us. It has already tested the model: Earlier this year, Egypt received LNG cargoes on behalf of Lebanon and Syria, regasified them aboard the Energos Force unit docked at Jordan's Aqaba port, and pushed the gas north through the Arab Gas Pipeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cImporting and exporting \u2014 this would be the endgame for Egypt,<\/strong>\u201d Shell Egypt VP and Country Chair Dalia El Gabry tells EnterpriseAM. The country can import LNG, regasify it, and send it down a pipeline, or import pipeline gas, liquefy it, and ship LNG. \u201cFew countries possess all of these elements simultaneously,\u201d Regan said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If Egypt\u2019s business is conversion, Turkey\u2019s is rerouting.<\/strong> Sitting between Russia, the Caspian, Iran, and the global LNG market, Ankara is building for flexibility rather than processing. \u201cWhat Turkey is attempting to build is a fully integrated energy ecosystem that combines all three functions: transit hub, trading hub and balancing market,\u201d Widdershoven tells us. \u201cTransit countries earn fees, while trading hubs and balancing markets create influence, pricing power and geopolitical leverage.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkey lacks any liquefaction capacity, but regasification and storage are its strongest <\/strong><strong>cards.<\/strong> Five LNG import terminals let it switch between seaborne and pipeline supply, while underground storage at Silivri and Tuz G\u00f6l\u00fc \u2014 a combined 6.3 bcm <a target=\"_blank\" href=\"https:\/\/www.osw.waw.pl\/en\/publikacje\/osw-commentary\/2026-03-17\/turkeys-lng-game-amid-war-middle-east\" style=\"\">set<\/a> to more than double by 2029 \u2014 lets it buy gas cheap, hold it, and release it when prices climb. Supply diversification is moving fast: Botas has signed five long-term LNG deals in 18 months \u2014 with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2025\/09\/25\/turkey-shores-up-lng-imports-via-agreements-with-mercuria-woodside\/\" style=\"\">EonMobil, Shell, TotalEnergies, Mercuria<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2025\/12\/30\/turkey-secures-second-long-term-supply-pact-for-us-lng\/\" style=\"\">Woodside<\/a> \u2014 as Washington and Brussels press it to cut ties with Moscow, still its largest supplier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The endgame is to make Turkey the place \u201cwhere prices are formed, contracts are <\/strong><strong>negotiated, and regional supply-demand imbalances are managed,\u201d<\/strong> Widdershoven says, and its current infrastructure allows it to \u201cto purchase gas when prices are lower, inject it into storage and release it when demand increases or when prices rise.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all of this infrastructure earns the same.<\/strong> Liquefaction is the most lucrative link in the chain. Tolling fees run roughly USD 2-3 per MMBtu against USD 0.3-0.8 for regasification, several times higher, according to Welligence Energy Analytics\u2019 head of APAC and global LNG, Marc Howson. That\u2019s why Egypt\u2019s paid-for export plants matter so much \u2014 and why Turkey's import-and-reroute model is, in the veteran analyst\u2019s words, more \u201clow margin, steady volume.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The deeper split is over optionality.<\/strong> Pipeline gas is cheaper to move once the pipe exists, but it's captive \u2014 point-to-point, with no room to play the market without massive storage. LNG costs more to ship but can be redirected mid-voyage to whoever pays most. \u201cIf you load an LNG tanker in Egypt, you can ship it anywhere in the world,\u201d the analyst says. \u201cTurkey sells to Bulgaria; they have to sell to Bulgaria. They can\u2019t ship the pipeline.\u201d That flexibility is what Egypt's planners are confident about \u2014 and what Turkey's storage build-out is meant to replicate by other means.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mostly, the disagreement comes down to timing.<\/strong> For Widdershoven, Turkey's model looks more resilient today, precisely because it has stacked up options \u2014 multiple suppliers, multiple routes, growing storage, and domestic Black Sea production. \u201cInfrastructure creates exports. Ecosystems create influence,\u201d he says, arguing Ankara \u201cmay ultimately emerge as the most influential gas player in the Eastern Mediterranean over the next decade.\u201d The veteran analyst sees Egypt\u2019s moment coming later: The Arab Gas Pipeline already hands Cairo a head start into regional markets and roughly USD 30-40 bn of infrastructure is now in the ground, so while Turkey may be ahead now, Egypt can take off within 5-10 years. \u201cEgypt can't do anything until its domestic supply-demand balance is in surplus.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The third view: None of this is the right framing.<\/strong> \u201cDon't let the natural competition between the nations get in the way of cooperation,\u201d Welligence VP of MENA Research Ross Casidy tells EnterpriseAM. \u201cAn interconnected, regional energy system is what is required.\u201d On that read, both models survive \u2014 Turkey's pipelines winning on cost when the region is calm, Egypt's LNG on flexibility and perceived neutrality when it isn\u2019t. As Widdershoven put it, Europe \u201cwill likely continue relying on both LNG and pipeline imports for decades.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the two models actually collide now is the Levant.<\/strong> Syria\u2019s slow recovery is the prize, and here geography tilts toward Turkey. \u201cIf Syria's economy continues to recover, Turkey is very likely to emerge as its most important external energy supplier,\u201d Widdershoven says, because pipeline gas delivered overland would almost certainly undercut LNG routed through Egypt. But Egypt\u2019s advantage with the Arab Gas Pipeline also gives it a \u201cmassive head start\u201d into those markets, the veteran analyst counters. <\/p>\n<p class=\"tag-border-left\"> What\u2019s next?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s case is gated on production.<\/strong> It can't re-export at scale until it clears its own deficit \u2014 best case 2028-2030 on the analyst's timeline \u2014 even as Cypriot gas begins feeding its plants from 2027 and it adds regasification capacity. Turkey\u2019s path runs through diplomacy and providing trade optionality: More LNG offtake to keep Washington onside, and whether EU origin rules tighten around the \u201cTurkish blend\u201d \u2014 surplus sold on to Europe after mixing gas from different origins, which has left Brussels weighing sanctions on terminals suspected of channeling Russian fuel into the bloc. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prices are the other key factor to watch: <\/strong>Egypt\u2019s export window around 2030 is likely to open just as global LNG markets swing into surplus, when margins will be thinner than they are now. The infrastructure, as the analysts keep saying, outlives the cycle. The question is which country's tolling machine will be running hardest when the market allows healthy margins. <\/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\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/the-lede\/\">The Lede<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/turkey\/\">Turkey<\/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=\"115846\" 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=\"115846\">\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\">LOGISTICS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/hormuz-faces-slow-recovery-as-shippers-weigh-ceasefire-risks-and-mine-clearing-delays\/\">\r\n                            Slow thaw                        <\/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\/menaplus\/2026\/06\/17\/hormuz-faces-slow-recovery-as-shippers-weigh-ceasefire-risks-and-mine-clearing-delays\/\" 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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Buyers have already secured alternative suppliers and shipping lanes during the closure, Karobaar Capital says, meaning normal flows could take months to resume. <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-markets\/136626\/%D8%A7%D9%84%D8%B4%D9%83%D9%88%D9%83-%D8%AA%D8%B7%D8%BA%D9%89-%D8%B9%D9%84%D9%89-%D9%85%D8%A7%D9%84%D9%83%D9%8A-%D8%A7%D9%84%D8%B3%D9%81%D9%86-%D9%82%D8%A8%D9%8A%D9%84-%D8%A7%D9%84%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D8%B9%D9%84%D9%89-%D9%81%D8%AA%D8%AD-%D9%85%D8%B6%D9%8A%D9%82-%D9%87%D8%B1%D9%85%D8%B2\/\" style=\"\"><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The checklist before ships move: naval safety assessments, insurer guidance, and no <\/strong><strong>further attacks.<\/strong> \u201cVessel scheduling adjustments and reductions in emergency surcharges would be early indicators of growing confidence,\u201d Antonella Teodoro, senior transport consultant at MDS Transmodal, tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International Maritime Organization is still assessing whether vessels can safely <\/strong><strong>transit <\/strong>\u2014 clearing mines, managing congestion, and establishing an evacuation corridor for seafarers stuck inside the Gulf for more than 100 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What happens when ships return all at once?<\/strong> Capacity that has been absorbed into longer voyages during the disruption gets released back into the market suddenly \u2014 creating a real risk of vessel bunching, port congestion, and pressure on hinterland logistics before networks can rebalance, Teodoro tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mine-clearing could be the slowest part of the restart \u2014 and it cannot be rushed. <\/strong>Mine-scouring using conventional minesweepers and underwater drones could take weeks \u2014 approximately 40-50 days \u2014 keeping shipowners cautious even after a political agreement is formally in place, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/scouring-strait-hormuz-mines-could-take-weeks-2026-06-15\/\" style=\"\">Reuters<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The damage runs deep:<\/strong> Hormuz infrastructure damage from the blockade is high and largely irreversible, according to Phillip Nova. Global fertilizer trade fell 90% during the closure, with 40+ ships carrying roughly 1 mn tons still stuck near the strait. When trade resumes, oil and LNG tankers get priority \u2014 fertilizer waits, a Kpler analyst told Al Arabiya.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lessons from Bab Al Mandab:<\/strong> Houthi disruption during Israel\u2019s Gaza war kept Red Sea traffic depressed long after the immediate threat subsided \u2014 and the group renewed its threat against Israeli-linked vessels last week.<\/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\/menaplus\/tag\/logistics\/\">LOGISTICS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/shipping\/\">Shipping<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/war-watch\/\">WAR WATCH<\/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=\"115848\" 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=\"115848\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/iraq-and-uae-hold-sovereign-credit-ratings\/\">\r\n                            Same war, different chests                        <\/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\/menaplus\/2026\/06\/17\/iraq-and-uae-hold-sovereign-credit-ratings\/\" 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 agency maintained a negative outlook on Iraq\u2019s long-term rating, signaling that structural fiscal risks remain deep.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ratings are supported by Iraq\u2019s large foreign reserves<\/strong>, which remain close to USD 100 bn and provide significant protection against external shocks, but Iraq\u2019s economy has been hit hard because it depends heavily on oil, which provides about 90% of government revenue and exports. Disruptions through the Strait of Hormuz caused oil production to collapse in early 2026, and S&P expects average production this year to be about 28% lower than in 2025. As a result, Iraq\u2019s real GDP is forecast to shrink by more than 15% in 2026, while budget and external balances remain under pressure despite higher oil prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The removal from CreditWatch offers short-term breathing room for Iraqi debt and trade <\/strong><strong>finance instruments.<\/strong> However, the persistent negative outlook underscores the country\u2019s vulnerability to volatile oil markets and a heavily bloated public sector wage bill. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/22\/the-first-question-for-iraqs-new-prime-minister-isnt-whether-he-can-reform-iraq-its-whether-he-can-make-payroll\/\" style=\"\">We recently took a deep dive<\/a> into Iraq\u2019s fiscal crisis and how its new Prime Minister Ali Al Zaidi may need to rely on an IMF bailout just to make payroll.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S&P\u2019s negative outlook warns that a downgrade is still very much on the table<\/strong> if prolonged low oil prices or further regional instability drain Iraq\u2019s fiscal buffers faster than anticipated. S&P expects oil exports and production to gradually recover in 2H 2026, helping economic conditions improve in 2027.<\/p>\n<p class=\"tag-border-left\">Moody\u2019s keeps the faith in the UAE <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moody\u2019s affirmed the UAE\u2019s Aa2 sovereign credit rating with a stable outlook despite <\/strong><strong>ongoing disruption to trade through the Strait of Hormuz<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2647118\/business-economy\" style=\"\">Arab News<\/a> reports. The credit rating comes even as the agency expects a 7% contraction in 2026, driven by a 23% decline in hydrocarbon production and a 4% contraction in the non-oil economy, citing \u201cdisruption to trade and confidence-sensitive sectors.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most bearish call in the field: <\/strong>Goldman Sachs had <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/03\/13\/goldman-sachs-warns-uae-gdp-could-contract-5-if-regional-conflict-persists\/\" style=\"\">projected<\/a> a 5% contraction, Oxford Economics sees GDP contracting by 0.2%, and the World Bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/887.pdf\" style=\"\">latest report (pdf)<\/a> puts 2026 growth at 2.4% in 2026 \u2014 down sharply from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/01\/15\/world-bank-reaffirms-uaes-2026-growth-at-5-while-gcc-is-poised-to-outpace-global-growth\/\" style=\"\">its January forecast of 5%<\/a>. Moody\u2019s expects the economy to rebound to grow at a 13% clip in 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the rating holds anyway: <\/strong>Fitch also <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/04\/abu-dhabi-holds-aa-rating-from-fitch-as-oil-exports-cushion-blow-spending-ramps-up\/\" style=\"\">reaffirmed<\/a> its AA sovereign rating for Abu Dhabi in May, and the answer for both lies in Abu Dhabi\u2019s balance sheet. Moody\u2019s assumes the emirate would step in if needed, noting that Abu Dhabi\u2019s government financial assets exceeded 300% of GDP at the end of 2025. The UAE also entered 2026 with a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/11\/this-morning-adic-backs-exoduspoints-usd-2-bn-capital-raise-more-dual-listings-could-be-coming-to-abu-dhabi\/\" style=\"\">AED 17.4 bn<\/a> federal budget surplus, while federal debt is expected to remain around 3-4% of GDP. The Habshan-Fujairah pipeline lets Abu Dhabi bypass the Strait of Hormuz for part of its oil exports \u2014 with <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/03\/this-morning-adnoc-resumes-naphtha-exports-via-oman-eyes-a-multi-fuel-pipeline-bypassing-hormuz\/\" style=\"\">more bypass options in the works<\/a> \u2014 and Moody\u2019s expected oil at USD 90-110 \/ bbl this year should partially offset lower volumes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the pain shows:<\/strong> Moody\u2019s flagged tourism, logistics, transport, real estate, and foreign investment as sectors under pressure. The World Bank cut its global growth forecast for 2026 to 2.5% and slashed its outlook for the Middle East, North Africa, Afghanistan, and Pakistan region to 1.6%, down from 4% growth last year. The lender warned global growth could slow to as little as 1.3% if energy disruptions spill into financial markets. <\/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\/menaplus\/tag\/debt\/\">Debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/economy\/\">ECONOMY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/market-watch\/\">Market Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/uae\/\">UAE<\/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=\"115850\" 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=\"115850\">\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\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/\">\r\n                            Baghdad calling                        <\/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\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/\" 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\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/')\">\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\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/\">\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=Iraq is now the top destination for Egyptian corporate investment abroad&url=https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/\">\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\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/&title=Iraq is now the top destination for Egyptian corporate investment abroad\">\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=Iraq+is+now+the+top+destination+for+Egyptian+corporate+investment+abroad+https%3A%2F%2Fenterpriseam.com%2Fmenaplus%2F2026%2F06%2F17%2Firaq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad%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\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1111.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115851\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/iraq-is-now-the-top-destination-for-egyptian-corporate-investment-abroad\/1111-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1111.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1111.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1111.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1111.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115850\" class=\"content-area-description single-story post-115850 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-egypt tag-enterpriseam tag-investment-watch tag-investments tag-iraq 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>Iraq <\/strong><strong>has become the top destination for Egypt\u2019s corporate investments abroad.<\/strong> Investment into the country topped USD 102 bn between 2022 and 2025, according to UNCTAD FDI data compiled and shared with us by senior economist and macro analyst Islam Magdy. Egyptian firms, armed with frontier-market execution experience and pricing made competitive by the EGP\u2019s slide, are crowding in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The case(s) in point: <\/strong>Real estate giant Talaat Moustafa Group (TMG) 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<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/02\/tmg-secures-land-for-usd-10-bn-iraqi-project\/\" style=\"\">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. Meanwhile, EGX-listed snackmaker <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/edita-secures-egp-500-mn-loan-to-boost-production-capacity\/\" style=\"\">Edita<\/a> and the country\u2019s biggest state-owned bank <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/11\/18\/nbe-is-looking-into-setting-up-shop-in-iraq\/\" style=\"\">NBE<\/a> are looking at expansions into Iraq. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The case for Iraq rests on the recent relative de-risking of the market.<\/strong> The country\u2019s 2021 accession to the New York and Singapore conventions, two major international frameworks that help mitigate cross-border investment risks and disputes, gave foreign firms enforceable investor protections, letting Egyptian developers into the reconstruction pipeline without leaving their capital fully exposed, Magdy tells us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But real risks remain in Iraq<\/strong>, Al Ahly Pharos' Hany Genena tells us. 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\"><strong>REMEMBER- Iraq\u2019s reconstruction pipeline rests on shaky fiscal ground due to the war<\/strong><strong>. <\/strong>With Hormuz shut and oil exports down to 600k bbl\/d from 3.3 mn before the war, Iraq's new government may not make public-sector payroll within months, as we <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/22\/the-first-question-for-iraqs-new-prime-minister-isnt-whether-he-can-reform-iraq-its-whether-he-can-make-payroll\/\" style=\"\">previously reported<\/a>. And because salaries and pensions are untouchable, the budget line that gets cut first is non-oil investment \u2014 the reconstruction and infrastructure spending Egyptian firms are banking on. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Devaluation lit the fuse, but it isn\u2019t the whole story.<\/strong> \u201cIf the chance was not there, it wouldn't have happened,\u201d EFG Hermes Chief Economist Mohamed Abu Basha says, pointing to Saudi opening its property market, Oman\u2019s industrial programs, and Iraq\u2019s pull on regional capital. The instinct also predates the worst of the crash. Genena traces it to the 2016 float, when Edita first looked to Morocco. The 2022-24 shock turned this strategy into a necessity, Genena adds. \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\"><strong>The Iraq pipeline is the sharp end of a much broader push for Egyptian players.<\/strong> Outward FDI hit USD 524.1 mn in FY 2024-25, up from USD 508 mn in 2024, as the EGP shed roughly half its value across three devaluations between 2022 and 2024 \u2014 and the move spans sectors and borders.<strong> In the UAE<\/strong>, 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>, and 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. <strong>In Morocco<\/strong>, Edita is building production lines, and 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 the long-stalled Mogador resort in Morocco. Meanwhile, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/21\/bahaa-el-din-calls-for-post-imf-structural-reform\/\" style=\"\">Juhayna<\/a> and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/16\/domty-has-plans-to-set-up-shop-in-saudi-arabia\/\" style=\"\">Domty<\/a> are pushing in <strong>Saudi<\/strong>, and Enppi and Petrojet are <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/enppi-lands-usd-355-mn-turnkey-contract-in-oman\/\" style=\"\">becoming<\/a> active in Oman. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The benefits of this outward FDI surge for Egypt\u2019s overall economy comes with a price <\/strong><strong>tag<\/strong><strong>.<\/strong> The whole case for cheering corporates abroad rests on USD income being brought back home. Investment income receipts hit USD 2.9 bn in FY 2024-25, a 5.5x ratio against net outward FDI, and Abu Basha calls self-generated USD a healthy outcome of devaluation that eases demand on the interbank market. But the balance-of-payments win evaporates if earnings are routed through offshore SPVs rather than repatriated, Genena warns \u2014 a breakdown Magdy says deserves closer institutional scrutiny. The move is also draining skilled Egyptian labor to the Gulf and Iraq, ultimately pushing domestic wages up. <\/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\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investments\/\">investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/iraq\/\">Iraq<\/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=\"115852\" 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=\"115852\">\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\">MARKETS + DEALS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/mena-ipo-window-cracks-open-as-sovereign-funds-keep-writing-checks\/\">\r\n                            Split screen                        <\/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\/menaplus\/2026\/06\/17\/mena-ipo-window-cracks-open-as-sovereign-funds-keep-writing-checks\/\" 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 window\u2019s open a crack \u2014 Oman\u2019s <strong>Omifco<\/strong> and Qatar\u2019s <strong>Dandy<\/strong> have both set price ranges and <strong>Reliance Jio<\/strong> is readying the year\u2019s biggest telecom float \u2014 but not for everyone, as <strong>Al Habtoor<\/strong>\u2019s shelved DFM listing makes plain. On the second question, <strong>Mubadala<\/strong> and <strong>L\u2019imad<\/strong> are answering with their checkbooks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Habtoor Group has shelved its long-planned DFM IPO<\/strong>, with founder Khalaf Al Habtoor <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/153226\/2026\/11\/06\/%D8%AE%D9%84%D9%81-%D8%A7%D9%84%D8%AD%D8%A8%D8%AA%D9%88%D8%B1-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%82%D8%B1%D8%B1%D8%AA-%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D8%B7%D8%B1%D8%AD-%D8%AD%D8%B5%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D9%81%D9%8A-%D8%B3%D9%88%D9%82-%D8%AF%D8%A8%D9%8A-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A-%D9%81%D9%8A-%D8%A7%D9%84%D9%88%D9%82%D8%AA-%D8%A7%D9%84%D8%B1%D8%A7%D9%87%D9%86\" style=\"\">redirecting the group<\/a> toward its own expansion pipeline. The plan had been a 5-15% listing of its cross-border hospitality arm. The proposed listing would have included a portfolio of hotels in Dubai, alongside international properties in Budapest, London, Vienna, and the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf SWF-backed Indian telco Reliance Jio Infocomm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/446baa8e-100b-4530-b53f-b3ba993025ed?syn-25a6b1a6=1\" style=\"\">is close to filing draft papers<\/a><\/strong><strong> for a<\/strong><strong> roughly USD 4 bn offering<\/strong>, after the company missed its previously-pledged 1H 2026 listing window. The move comes as the Nifty index shed roughly 8% this year, and India\u2019s IPO market faces one of its weakest stretches on record. This year total IPO proceeds fell 39% y-o-y to INR 198 bn (USD 2.1 bn). Foreign investors have pulled a record USD 30.7 bn from Indian equities YTD and the worsening selloff <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/22\/reliance-could-usd-4-bn-jio-platforms-listing\/\" style=\"\">may not fetch an adequate valuation for Jio<\/a>. This leaves early backers \u2014 PIF, ADIA, and Mubadala among them \u2014 staring down a longer public-market hold than they had signed up for. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two regional IPOs made it to pricing:<\/strong> Oman\u2019s <strong>Omifco<\/strong> is <a target=\"_blank\" href=\"https:\/\/www.msx.om\/MSMDocs\/downloads\/en_1781432968028_omifco-prospectus-en.pdf\" style=\"\">looking to raise<\/a> c. USD 678 mn from its Muscat Stock Exchange IPO, offering 1.6 bn shares at USD 0.3-0.4 per share. The pricing values the fertilizer producer at OMR 1 bn (USD 2.7 bn). Qatar\u2019s <strong>Dandy<\/strong>, meanwhile, has <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/capital-markets\/equities\/qatari-dandy-ipo-price-range-at-137-142-ixttt5wo\" style=\"\">priced<\/a> its upcoming offering of 40% of its shares at QAR 1.37-1.42 a pop, setting it up to raise QAR 214 mn (USD 58.6 mn) from the IPO. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala keeps buying yield in Europe:<\/strong> <strong>Mubadala<\/strong> is putting another USD 200 mn into Europe\u2019s power grid, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/markets\/mubadala-buys-200-million-stake-in-uk-ireland-power-link-greenlink-1.500575855\" style=\"\">buying<\/a> a stake in Greenlink, the subsea interconnector linking the UK and Ireland. Greenlink is an infrastructure project that\u2019s heavily regulated, sitting under dual regulatory oversight: Ofgem in the UK and Ireland\u2019s Commission for Regulation of Utilities. This usually ensures long-duration, predictable revenue streams. The asset sits comfortably within Mubadala\u2019s strategic tilt toward European energy transition assets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>L\u2019imad-owned ADPower <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/6\/867.pdf\" style=\"\">is moving to take full control<\/a><\/strong><strong> of Abu Dhabi energy champion <\/strong><strong>Taqa<\/strong>, after lifting its stake in Taqa to 98.12% <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/11\/limad-takes-over-2pointzeros-taqa-stake\/\" style=\"\">just last week<\/a>, clearing the threshold required to trigger a squeeze-out under UAE regulations. The mandatory acquisition process to buy out the remaining minority shareholders suggests Taqa\u2019s days on the public market are numbered, with little practical reason for the company to be publicly traded once the acquisition is completed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt is likely to rebuff AD Ports\u2019 bid for a 90% stake in Alexandria Container and Cargo<\/strong><strong> Handling (ALCN)<\/strong>, our <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/15\/transport-ministry-to-reject-ad-ports-sweetened-mto-for-alex-containers\/\" style=\"\">Egypt desk reports<\/a>. The Emirati port operator \u2014 bidding through its subsidiary Black Caspian Logistics \u2014 had offered EGP 27.47 per share <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/14\/ad-ports-bumps-up-alex-containers-offer-to-egp-27-47-per-share-to-consolidate-51-3-majority\/\" style=\"\">last week<\/a> to consolidate its control over the Egyptian maritime operator through a mandatory tender offer as part of a necessary regulatory step, sweetening its bid by 19.5% from an initial EGP 22.99 per share offer submitted <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/\" style=\"\">late last year<\/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\">Also worth knowing<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank AlJazira<\/strong> <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=96111&anCat=1&cs=1020&locale=en\" style=\"\">is weighing<\/a> an Additional Tier 1 (AT1) issuance while peer <strong>Alinma<\/strong> <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=96125&anCat=1&cs=1150&locale=en\" style=\"\">moves to<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=96125&anCat=1&cs=1150&locale=en\" style=\"\">redeem<\/a> existing sukuk. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">India's <strong>Man Industries<\/strong> has bought Saudi's <strong>National Pipe Company (NPC)<\/strong> for USD 102 mn, handing the group instant local-content manufacturing inside the Kingdom as Saudi infrastructure build-out widens.<\/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\"> Market Snapshot<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadawul<\/strong> 0.5% \u2022 <strong>ADX<\/strong> 1.6% \u2022 <strong>DFM<\/strong> 1.7% \u2022 <strong>EGX30<\/strong> -0.5%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Brent USD 79.48 \/ bbl \u2022 Gold USD 4,354 \/ oz \u2022 USD \/ SAR 3.75 \u2022 USD \/ EGP 50.30<\/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\/menaplus\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/markets-deals\/\">Markets + Deals<\/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=\"115854\" 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=\"115854\">\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\">A MESSAGE FROM MASHREQ<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/the-new-geography-of-power-why-financial-plumbing-is-the-modern-port\/\">\r\n                            The new geography of power: why financial plumbing is the modern port                        <\/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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href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/the-new-geography-of-power-why-financial-plumbing-is-the-modern-port\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/999.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"115855\" data-permalink=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/the-new-geography-of-power-why-financial-plumbing-is-the-modern-port\/999-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/999.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"999.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/999.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/999.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115854\" class=\"content-area-description single-story post-115854 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-mashreq tag-a-message-from-mashreq tag-banking tag-enterpriseam 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>Measures of national power have shifted.<\/strong> Today, a largely invisible infrastructure has emerged as a defining lever of sovereignty: financial plumbing. For central banks and policymakers, payment rails, settlement systems, and fraud defenses are no longer back-office utilities, but strategic national assets. Just as a blocked shipping lane can paralyze physical trade, a fractured financial rail can isolate a nation, erode trust, and stall capital flows. Economic power is defined by the speed, security, and integrity of capital movement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These systems also determine how economies withstand disruption.<\/strong> While market volatility captures the headlines, resilience is built within this layer. Financial institutions are evolving beyond traditional banking functions to reinforce international liquidity and systemic stability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One example is the development of high-capacity digital corridors across Asia, the Middle East, and Africa.<\/strong> Mashreq is strengthening cross-border liquidity through technology-enabled settlement systems and advanced fraud defenses, helping emerging economies connect local ambition with global capital. Its <a target=\"_blank\" href=\"https:\/\/www.brecorder.com\/news\/40376068\/from-dubai-to-pakistan-mashreq-well-on-its-way-to-100mn-expansion-in-digital-banking-sector\" style=\"\">USD 100 mn commitment to Pakistan\u2019s digital banking sector<\/a>, including the launch of a full-service digital retail bank and the establishment of a Global Capability Center, supports national digital infrastructure and financial inclusion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>These capabilities underpin trade, remittances, and investment.<\/strong> When settlement systems are instant, fraud defenses predictive, liquidity expands across South Asia and Africa, as seen in Mashreq\u2019s <a target=\"_blank\" href=\"https:\/\/www.mashreq.com\/en\/uae\/news\/2024\/november\/mashreq-british-international-investment\/\" style=\"\">2024 trade finance partnership with British International Investment (BII)<\/a>. This strengthens institutional trust and attracts long-term capital. Mashreq\u2019s role is to enable these capital flows across emerging markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The difference now lies in how capital moves.<\/strong> The most influential economies treat financial rails with the same strategic priority as ports, grids, and telecom networks. Execution, not access, is what separates them. Sovereignty resides not only in territory, but in the secure, seamless movement of capital. These systems may be invisible, but they determine which economies remain connected, competitive, and trusted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Joel Van Dusen, Group Head of Corporate & Investment Banking<\/strong><\/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\/menaplus\/tag\/a-message-from-mashreq\/\">A MESSAGE FROM MASHREQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/banking\/\">Banking<\/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=\"115856\" 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=\"115856\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/rox-picks-egypt-as-luxury-ev-production-hub-for-middle-east-africa\/\">\r\n                            Launchpad                        <\/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\/menaplus\/2026\/06\/17\/rox-picks-egypt-as-luxury-ev-production-hub-for-middle-east-africa\/\" 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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ESI <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Production is scheduled to begin in mid-2027<\/strong> at ESI's 100k sqm complex in Sixth of October, scaling from 3k cars in the first year to 5k within three years, ESI Chairman Hisham Ezz El Arab tells us. The local component ratio will sit within the Industrial Development Authority\u2019s 45% requirement. The move aligns with the Egyptian government\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/17\/industry-ministry-pushes-for-100k-vehicles-a-year-and-60-local-content-in-an-auto-industry-reboot\/\" style=\"\">Automotive Industry Development Program<\/a>, which targets 100k vehicles annually with 60% local content. <\/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 rarely sees parent OEMs take equity in local manufacturing \u2014 the market runs on importers and badge-assembly deals. The venture sets Egypt up as a launchpad to African markets including Nigeria, Angola, and Ghana, with a right-hand-drive plant planned to serve East and Southern Africa, CEO Jarvis Yan tells us. <\/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\">Steady<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Libya's National Oil Corporation (NOC) signed production-sharing agreements with three<\/strong><strong> international consortiums for blocks from its 2025 exploration round<\/strong>, which ended a 17-year freeze on new exploration licensing in the country. The signatories are Spain\u2019s Repsol with T\u00fcrkiye Petrolleri; Italy\u2019s Eni with QatarEnergy; and Hungary\u2019s MOL alongside T\u00fcrkiye Petrolleri and Repsol, NOC Chairman Massoud Suleman <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/noclibya\/\" style=\"\">said<\/a>. <\/p>\n<p><strong>Why it matters:<\/strong>The signing provides IOCs a sense of security to advance their capex-intensive exploration drilling. <strong>Some of the 2025 winners are also not included: <\/strong>Chevron and Nigeria\u2019s Aiteo were among the companies awarded blocks last year but aren't in this signing batch. <\/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\">Playing defense<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE <\/strong><strong>state-owned defense champion Edge Group is doubling down on its cooperation<\/strong><strong> with French firms<\/strong>, inking a new agreement with aerospace and defense group Safran to set up two JVs for weapon development, Edge said in a <a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/news\/edge-and-safran-sign-joint-venture-term-sheet-next-generation-missile-development\" style=\"\">statement<\/a>. The joint ventures \u2014 one to be based in the UAE and the other in France \u2014 will focus on precision-guided and air-to-ground weapons and launch systems for unmanned aerial systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Edge recently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/12\/this-morning-maf-is-not-delaying-delivery-for-tilal-al-ghaf-homes-for-now-edge-to-set-up-edge-europe-in-paris\/\" style=\"\">established its European HQ in Paris<\/a>, and is currently pushing <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/06\/uae-defense-sector-investment-drive-gains-momentum-with-plans-for-new-funding-platform\/\" style=\"\">to localize more of its defense stack<\/a> while also upping its exposure to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/15\/from-procurement-to-propulsion-edge-buys-into-italys-cmd-as-the-uae-localizes-more-of-the-defense-supply-chain\/\" style=\"\">assets abroad<\/a> to strengthen its defense supply chain.<\/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\">Cloud ambitions<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at Hassan Allam\u2019s digital infrastructure arm committed USD 400<\/strong><strong> 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\">Expanding textile base<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s Suez Canal Economic Zone is pulling in another wave of foreign <\/strong><strong>textile investments<\/strong>, with three new contracts this week worth a combined USD 67 mn from Canadian, Indian, and Chinese investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Canadian firm Avelon is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1DtdtoUAt2\/\" style=\"\">setting up a USD 27 mn<\/a><\/strong><strong> technical textiles manufacturing facility <\/strong><strong>in East Port Said<\/strong>, producing specialized materials for waterproofing, building protection, soil reinforcement, and infrastructure. The 24.2k sqm facility will export 100% of its output to the US and Europe. Avelon is bringing a high-value, specialized industrial output that stands out against most of the low-margin garment investments from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/24\/cloud-chain-plans-a-carbon-neutral-textile-complex-in-port-said\/\" style=\"\">Chinese<\/a> and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/23\/egypts-investment-labor-ministries-roll-out-the-red-carpet-for-major-foreign-companies\/\" style=\"\">Turkish<\/a> firms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two more in Qantara West:<\/strong> India\u2019s Prestige Denim Mills will build a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02iQDk8BLsKKkAMLQ3fYp5Xvd4bftk1TpaKnoGu7Y59knSZTfBr6TMekvMWeQV3JQwl\" style=\"\">USD 20 mn integrated<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02iQDk8BLsKKkAMLQ3fYp5Xvd4bftk1TpaKnoGu7Y59knSZTfBr6TMekvMWeQV3JQwl\" style=\"\">denim fabric plant<\/a> producing up to 20 mn meters annually, with 70% of output earmarked for export. Meanwhile, China\u2019s Zhejiang Hongda <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=\"\">will set up a USD 20 mn<\/a> textile manufacturing and processing exporting 70% of output. <\/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\/menaplus\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/auto\/\">Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/manufacturing\/\">manufacturing<\/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=\"115858\" 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=\"115858\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/17\/iraq-scraps-its-usd-764-mn-baghdad-airport-ppp-over-corruption-concerns\/\">\r\n                            Turbulence                        <\/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\/menaplus\/2026\/06\/17\/iraq-scraps-its-usd-764-mn-baghdad-airport-ppp-over-corruption-concerns\/\" 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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Baghdad pulled the 25-year build-operate-transfer (BOT) contract \u2014 awarded last year to a consortium of Corporaci\u00f3n Am\u00e9rica Airports and Iraqi real estate firm Amwaj International \u2014 after flagging potential irregularities in the tender and contract terms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>The deal was meant to be Iraq\u2019s private-capital showcase in a push to modernize airports backed by the IFC. The plan aims to raise the airport\u2019s capacity to c. 8.5 mn passengers in phase one, with the consortium running terminals, ground services, and air cargo while the state keeps control of customs and fueling. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cancellation comes before the financial close, which caps the legal exposure but not<\/strong><strong> the reputational hit.<\/strong> \u201cCanceling before financial close is less damaging than terminating a fully operational concession,\u201d Wouter Dewulf, professor of air transport economics at the University of Antwerp, <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2026\/06\/16\/baghdad-cancels-its-flagship-airport-ppp-over-corruption-concerns\/\" style=\"\">tells<\/a> our LogisticsAM Desk. \u201c[The] signal is still important, because international investors look not only at law-related closure but also at the credibility of the entire procurement and award process,\u201d Dewulf says. <\/p>\n<p><strong>IN CONTEXT-<\/strong> <strong>The move comes as Iraq\u2019s new Prime Minister Ali Al Zaidi turns to <\/strong><strong>combating corruption <\/strong>as one of the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/03\/war-threatens-indias-auto-exports-and-margins\/\" style=\"\">early priorities<\/a> of his term. That came after he disclosed he was offered a bribe to cover up embezzlement in the Oil Ministry, which ultimately led to the arrest of the deputy oil minister for refining affairs Adnan Al Jumaili and the establishing of a new council tasked with investigating and cracking down on organized corruption in government. <\/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\"><a id=\"wwtt2\"><\/a> <strong>Morocco<\/strong><strong> is carefully weighing a freetrade proposal from China<\/strong>, with Industry and Trade Minister <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-12\/morocco-weighs-china-free-trade-agreement-minister-says\" style=\"\">Ryad Mezzour saying<\/a> the proposal is \u201cunder reflection.\u201d An agreement could deepen supply chain ties with China, which has <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/chinas-gotion-high-tech-set-up-13-billion-ev-battery-gigafactory-morocco-2024-06-06\/\" style=\"\">pledged more than USD 6 bn<\/a> in EV and battery commitments in the country. However, Morocco\u2019s industrial model leans on tariff-free access to Europe and the US, and Brussels has already flagged concerns about Chinese oversupply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A China deal would give local manufacturers access to the Chinese market and help<\/strong><strong> Morocco diversify beyond Europe<\/strong>, Mezzour said. Another FTA with Chile is also in the works, aimed at booting Morocco\u2019s exports \u2014 particularly automobiles \u2014 to South America\u2019s Mercosur trade bloc.<\/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\"><a id=\"wwtt3\"><\/a> <strong>Kuwaiti <\/strong><strong>developer Urbnlanes <\/strong><strong><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=\"\">is in final negotiations<\/a><\/strong><strong> to acquire a 430-feddan plot in <\/strong><strong>Egypt\u2019s 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. 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\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\/menaplus\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/investments\/\">investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/menaplus\/tag\/what-were-tracking\/\">WHAT WE\u2019RE TRACKING<\/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=\"115860\" 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\/menaplus\/2026\/06\/17\/115860\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-115860\" class=\"content-area-description single-story post-115860 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 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\">21-24 June<\/span><span style=\"\"> \u2014 Afreximbank Annual Meetings. <\/span><span style=\"font-weight:400;\">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:700\">July 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\">2 July<\/span><span style=\"\"> \u2014 Parliamentary elections. <\/span><span style=\"\">Algeria<\/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\">5 July<\/span><span style=\"\"> \u2014 Independence Day (public holiday, markets closed). <\/span><span style=\"\">Algeria<\/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\">9 July<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">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:700\">14 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/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\">23 July<\/span><span style=\"\"> \u2014 Revolution Day (public holiday, markets closed). <\/span><span style=\"\">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:700\">25 July<\/span><span style=\"\"> \u2014 Republic Day (public holiday, markets closed). <\/span><span style=\"\">Tunisia<\/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\">28-29 July<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/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\">30 July<\/span><span style=\"\"> \u2014 Throne Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/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 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\">13 Aug<\/span><span style=\"\"> \u2014 Women\u2019s National Day. <\/span><span style=\"\">Tunisia<\/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\">20 Aug<\/span><span style=\"\"> \u2014 Revolution of the King and the People Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/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\">20 Aug<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">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:700\">21 Aug<\/span><span style=\"\"> \u2014 Youth Day (public holiday, markets closed). <\/span><span style=\"\">Morocco<\/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\">25 Aug<\/span><span style=\"\"> \u2014 Prophet\u2019s Birthday (public holiday, markets closed) \u2014 TBD. <\/span><span style=\"font-weight:400;\">Region-wide<\/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\">31 Aug-3 Sep<\/span><span style=\"\"> \u2014 LEAP technology conference.<\/span><span style=\"font-weight:400;\"> Saudi Arabia <\/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 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\">7-9 Sep<\/span><span style=\"\"> \u2014 AIM Congress. <\/span><span style=\"\">UAE<\/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\">15-16 Sep<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/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\">15 Sep<\/span><span style=\"\"> \u2014 <\/span><span>IMF\u2019s eighth review of Egypt\u2019s USD 8 bn EFF arrangement. <\/span><span style=\"\">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:700\">16-17 Sep<\/span><span style=\"\"> \u2014 Middle East Banking Innovation Summit. <\/span><span style=\"\">UAE<\/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\">23 Sep<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Saudi Arabia<\/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\">24 Sep<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">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:700\">30 Sep-3 Oct<\/span><span style=\"\"> \u2014 Cityscape Egypt 2026. <\/span><span style=\"\">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:700\">October 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\">3 Oct<\/span><span style=\"\"> \u2014 National Day (public holiday, markets closed). <\/span><span style=\"\">Iraq<\/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\">6 Oct<\/span><span style=\"\"> \u2014 Armed Forces Day (public holiday, markets closed). <\/span><span style=\"\">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:700\">15 Oct<\/span><span style=\"\"> \u2014 GCC Made in the Gulf Forum + Exhibition. <\/span><span style=\"\">TBD<\/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\">25 Oct<\/span><span style=\"\"> \u2014 Liberation Day (public holiday, markets closed). <\/span><span style=\"\"> Libya<\/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\">25-27 Oct<\/span><span style=\"\"> \u2014 World Investment Forum 2026. <\/span><span style=\"\">Qatar<\/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\">26-29 Oct<\/span><span style=\"\"> \u2014 Future Investment Initiative.<\/span><span style=\"\"> Saudi Arabia<\/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\">27-28 Oct<\/span><span style=\"font-weight:400;\"> \u2014 US Federal Reserve Open Market Committee meeting.<\/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\">29 Oct<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">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:700;\">November 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\">1 Nov<\/span><span style=\"\"> \u2014 Revolution Anniversary (public holiday, markets closed). <\/span><span style=\"font-weight:400;\">Algeria<\/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\">2 Nov<\/span><span style=\"\"> \u2014 Abu Dhabi International Petroleum Exhibition + Conference (ADIPEC) opens (through 5 Nov). <\/span><span style=\"\">UAE<\/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\">6 Nov<\/span><span style=\"\"> \u2014 Green March Anniversary (public holiday, markets closed). <\/span><span style=\"\">Morocco <\/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\">16 Nov<\/span><span style=\"\"> \u2014 Cityscape Global begins (through 19 Nov). <\/span><span style=\"font-weight:400;\">Saudi Arabia <\/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 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\">17 Dec<\/span><span style=\"\"> \u2014 Central Bank of Egypt monetary policy decision. <\/span><span style=\"\">Egypt<\/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>Egypt + Turkey\u2019s tolling hub race. Traffic in Hormuz isn\u2019t going to snap back. Iraq, UAE hold onto sovereign credit ratings.<\/p>\n","protected":false},"featured_media":115842,"menu_order":0,"template":"","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,"footnotes":""},"categories":[],"tags":[],"class_list":["post-115841","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4934ed1c-ffa3-4962-a427-7a652f7ce161","teaser":"Egypt + Turkey\u2019s tolling hub race. Traffic in Hormuz isn\u2019t going to snap back. 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