PM — It’s a big day for the Pharaohs tomorrow

TL;DR

We made our Samurai bonds debut today with a JPY 60 bn issuance in Japan. (The Big Story Today)
Ukrainian President Zelensky is lobbying for full EU membership and more NATO support. (The Big Story Abroad)
Football is finally back, with a big night at Cairo International Stadium tomorrow. (On The Tube Tonight)
Arab athletes speak out on double standards on bringing politics into sports. (For Your Commute)
Get to know the science of sleep. (Health)
WHAT’S NEXT- The first installment of Super Pumped tells the story of “The Battle For Uber.” (On The Tube Tonight)
Did you know that one of our all-time favorite series, Succession, has its own podcast? (Ears To The Ground)
Crypto-focused SPACs are having their day in the sun, outperforming other non-crypto companies that went public via SPAC. (For Your Commute)

???? WHAT WE’RE TRACKING TONIGHT

Good afternoon, ladies and gentlemen, and a very happy THURSDAY to you all. It’s been a wild news week, and we’re very much looking forward to the weekend for a breather.

THE BIG STORY TODAY-

Egypt successfully closed its maiden Samurai bond issuance, selling USD 500 mn (c.JPY 60 bn) of the JPY-denominated bonds in Japan today, the Finance Ministry. The ministry took the issuance to market despite the spillover from the Russian invasion of Ukraine, and the sale makes Egypt the first in the region to issue JPY-denominated bonds in the Japanese market, the ministry said.

ALSO- The EGP continued strengthening against the greenback today, trading at 18.25 versus 18.42 yesterday. The EGP is now down 16.5% since the start of the week, just a little bit above the 15-16% overvaluation range analysts had previously pegged. Bankers and analysts we’ve spoken to have broadly been in agreement that the currency overshot following Monday’s devaluation, and will continue to strengthen until it settles at its fair value.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

It’s official: The government has requested support from the IMF to mitigate the impact of the war in Ukraine on its economy. Statements from the IMF and cabinet yesterday confirmed that the two sides are in talks on a new program, though it remains unclear what kind of assistance the Fund is willing to offer.
valU to enter Saudi Arabia in 1H2022: EFG Hermes’ consumer finance platform valU will set foot in Saudi Arabia before the end of 1H2022, marking its first cross-border expansion.
PE outfit Compass Capital has taken out a USD 10 mn mezzanine loan from South African fund manager Vantage Capital to fund the acquisition of six office buildings in New Cairo.

** CLARIFICATION- In this morning’s edition of EnterpriseAM, we picked up a story from Al Mal that incorrectly said Sequence Ventures’ Egypt Deep-Tech Fund has reached its first close of EGP 150 mn. Sequence Ventures Executive Chairman Karim Helal has since informed us that the fund expects to reach its first close after Ramadan. The story has been updated on our website.

THE BIG STORY ABROAD-

Ukrainian President Zelensky is lobbying for full EU membership and more NATO support, saying in a recorded speech to the Swedish parliament that Ukraine has “shown that we deserve to be a fully fledged member of the EU” by fighting against Russia “for Europe’s security,” Reuters reports. The Ukrainian president also asked NATO to send more military assistance to help stave off Russia’s invasion, and repeated his request for a no-fly zone over Ukraine, despite Western governments so far refusing to take this step.

The requests come as NATO, G7 nations, and the EU are each holding emergency meetings today, with US President Joe Biden attending all three in a show of support for Ukraine, according to EuroNews. Biden is expected to hold a news conference at the end of the day to recap his meetings, according to the Associated Press.

NATO Secretary General Jens Stoltenberg is extending his term for another year to hold down the fort as the war in Ukraine trudges on, reports Reuters, citing the Norwegian press. Stoltenberg was meant to take up the post of central bank governor in his native Norway after his term expires with NATO this coming October.

Meanwhile, the UK came out with a new laundry list of sanctions against Russia today, with 65 new measures targeting “a range of key strategic industries and individuals,” including Russian Railways, a Russian defense company that produces drones, six banks, and the stepdaughter of Russian Foreign Minister Sergei Lavrov, according to a statement.

And there could be even more sanctions coming: The trio of high-level meetings today feature discussions on ramping up sanctions and ways to mitigate the economic and security fallout spreading across Europe and the world.

MARKET WATCH-

Russian equities and the rouble appear to have shaken all of this off, with stocks rallying in the first day of trading on the Moscow Exchange in nearly a month. The exchange’s benchmark index rose 11% at the start of trading before paring gains to end the day up 4.4%, according to market data. Trading restrictions on foreigners and short selling remain in place, but the overall sentiment appears to be positive, “supported by the confidence that the finance ministry will buy stocks,” BCS Brokerage said, according to Reuters. Equity performance has been mixed, however, as energy firms saw significant gains while banking and airline shares sank. The rouble also rallied today, rising 2% to continue its recovery.

Oil has been see-sawing today as investors chewed over supply risks and the expectation of more sanctions on Moscow, Bloomberg reported. Brent futures fluctuated between losses and gains close at USD 123 per barrel as the US and EU inch closer to an agreement to cut dependency on Russia’s energy.

???? CIRCLE YOUR CALENDAR-

The Egypt International Mining Show (EIMS 2022) kicks off next Monday. The virtual event will wrap on Tuesday.

PSA- All individual taxpayers have until next Thursday, 31 March, to submit their 2021 tax returns to the Egyptian Tax Authority. The deadline for companies with January-December fiscal years is 30 April.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

☀️ TOMORROW’S WEATHER- It’s going to gradually get sunnier over the next week. Friday will see a daytime high of 20°C while Saturday promises temps of 23°C, our favorite weather app tells us. We’re still in store for some pretty cold nights, with both days seeing nighttime lows of 9°C.

This publication is proudly sponsored by

???? FOR YOUR COMMUTE

Arab athletes speak out on double standards on bringing politics into sports: Athletes and commentators are pointing out international sporting bodies’ laxity with political expression regarding the Russia-Ukraine war within sporting events, compared to often harsh repercussions when Arab sportspeople would touch on the Palestinian occupation, AFP writes. Egyptian squash champion Ali Farag is among those pointing out the double standard, using his victory speech at a recent championship to say that it’s suddenly okay to discuss politics in sports. Earlier this month, Palestinian midfielder Mohamed Rashid refused to stand with his Indonesian club Persib Bandung as they raised a “stop war’”sign. “When war erupted in a Western country, everyone stood with it, but when people die in Palestine, we are not allowed to show solidarity and are accused of mixing politics and sports,” he said at the time.

Crypto-focused SPACs are having their day in the sun, outperforming other non-crypto companies that went public via SPAC, Bloomberg writes. A rush towards SPAC-based listings hasn’t exactly paid off across the board, with most companies opting for this route now seeing “abysmal” stock performance — despite initially seeing sharp spikes in trading activity once a SPAC transaction closed, the business information service notes. But even with crypto-focused SPACs’ generally better performance than their non-crypto peers, they remain exposed to fluctuations in BTC prices, with two companies (Cipher and Bakkt) seeing their share prices dropping from their listing price as the cryptocurrency dropped.

A global fertilizer shortage is reducing the amount of cultivated agricultural land, leading to more global hunger, creating another dynamic to the fallout from the Russia-Ukraine war, which has pushed fertilizer prices to sky-high levels, reports Reuters. Western sanctions on Russia have disrupted the trade of key commodities, including fertilizers that are critical to maintaining high yields from crops such as corn, soy, rice, and wheat. Farmers are struggling to quickly adapt through different methods, such as switching out fertilizers for manure, using less fertilizer, or stockpiling in anticipation of more severe shortages ahead. Agricultural experts believe that the situation could lead to further pressure on global food supply in the long run by inhibiting production.

???? ENTERPRISE RECOMMENDS

???? ON THE TUBE TONIGHT-

(all times CLT)

WHAT’S NEXT- The first installment of Super Pumped tells the story of “The Battle For Uber”: The anthology series aims to tell the tales behind business disruptors with the first edition focusing on global ride-hailing giant Uber and tracking the rise and fall of Uber’s disgraced CEO, Travis Kalanick, who ran the company from 2010 to 2017. Joseph Gordon-Levitt brings Kalanick through a jumpy, narcissistic character. The series starts at the very beginning of Uber’s journey, when it was still called UberCab, with Kalanick attempting to snag VC funding by embellishing the business model and giving quite the aggressive elevator pitch. It then follows Uber’s tumultuous journey, from struggling to expand to the company’s many PR debacles as well as the many enemies it makes along the way. “Super Pumped pokes at the dubious ethics of Silicon Valley — even the guys ostensibly trying to do the right thing,” writes The Guardian.

⚽ Football is finally back as we wrap up a hectic work week, with a big night at Cairo International Stadium tomorrow. Our full hearts and clear eyes will be watching the Pharaohs’ 9:30pm game against Senegal in the first leg of the decisive African qualifiers for the much-anticipated Fifa World Cup 2022 in Doha. Our national team is being pressed to avenge its loss against Senegal at the Afcon final last month.

Also in the African qualifiers: DR Congo v Morocco at 5pm, Mali v Tunisia and Cameroon v Algeria at 7pm, and Ghana v Nigeria at 9:30pm.

You won’t have to wait until tomorrow to get your football fix, though, as the play-offs for the European qualifiers kick off today. The first leg of the playoffs is happening today, with Italy v North Macedonia and Portugal v Turkey at 9:45pm, while the second leg is coming up next week. The victors of the two games will clash against each other for a seat in the world’s top championship.

Also in the European qualifiers tonight: Wales v Austria and Sweden v Czech Republic at 9:45pm.

Dasvidaniya, Russia: Poland has already qualified for the qualifiers’ finals after UEFA decided to ban Russia from international football on the back of its invasion of Ukraine, leaving us to wait for the victor of Sweden’s game to know who Poland will be up against next. War-torn Ukraine’s game against Scotland has been postponed to a later date, with the team that comes out on top set to clash with whoever emerges victorious from the Wales v Austria game.

???? EAT THIS TONIGHT-

We’re in the mood for Egyptian street food today and Sheikh Zayed’s Fill Fino food truck is sure to satisfy our cravings for kebda and sogo2. They have some classic Egyptian breakfast sandwiches for the early risers — white cheese, roomy cheese, and the like — we love their all-day menu, especially the kebda eskandarany, minced sausage, and grilled kofta. They also recently introduced some keto-friendly options (apologies to our vegan friends) abandoning the fino bread. Finish your meal with a halawa sandwich with qeshta to ensure a full authentic Egyptian street food experience.

???? OUT AND ABOUT-

(all times CLT)

El Waili and Donia Wael are kicking off Zamalek Music Week at the Zamalek Theater today at 7pm. The week will also see performances by Abyusif, DJ Tooti, Wust El Balad band, and more. On Sunday, check out ZMW’s rock night featuring Strawberry Swing, Paranoid Eyes, Skeletøn Clique.

El Tanbura is making a comeback today at Cairo Opera House. El Tanbura was established by Zakaria Ibrahim in 1988 in Port Said to perform an Egyptian genre of folk music called Simsimiyya. As the years passed and the interest in the special type of music dissipated, El Tanbura stopped performing, but today they’ll be taking the stage and reviving the musical heritage. El Tanbura now includes 20 members from various walks of life, including master musicians, singers, ‎philosophers, as well as fishermen, builders, plumbers and vendors, ranging from 25 to 84 years old.

Wael Jassar is performing tonight at Misr University for Science and Technology at 8pm. You can still get tickets from TicketsMarche.

Startup Haus Cairo is hosting the Mental Care for HER program, which aims to empower women to take care of their mental health. The event will take place tomorrow from 2-8pm.

The Darkroom Cairo is holding a Cyanotype Workshop tomorrow from 3-9pm. The workshop will show ways to produce and replicate pictures without a camera, instead using an alternative medium such as x-ray film. All equipment will be provided.

Walk The World at Sheikh Zayed’s Walk of Cairo will feature live entertainment, shows, parades, dancers, international food stations, engaging activities, carnival games. The festivities will run on Friday and Saturday.

Luka will sing today at Eden Spaces in Heliopolis at 6pm. If you’re unsure who Luka is, she’s part of the local band Do3souqa.

The Contemporary Image Collective (CIC) is celebrating the late Yasser Alwan on Friday in an event organized by his friends and students. Alwan is a freelance Iraqi/American photographer who lived in Cairo for nearly 30 years. His work delves into the intersection between documentary, art, and portraiture. “The image was his language most capable of expressing his love and feeling for people,” the event bio writes. Alwan died earlier this year.

El Sawy Culturewheel is hosting the Egyptian Mawlawiyah concert on Saturday starting at 7pm.

???? EARS TO THE GROUND-

Did you know that one of our all-time favorite series, Succession, has its own podcast? In the HBO Original ten-episode series Succession podcast, inimitable journalist and host Kara Swisher unfolds real events that copy the saga in the series, with guests including the TV show cast, journalists, writers and others. Episode 1 sees Brian Cox talking all things Logan Roy, with other episodes featuring Jeremy Strong (Kendall Roy), Sarah Snook (Shiv Roy) and many others talking power and influence in the real world that helped shape the series.

???? UNDER THE LAMPLIGHT-

Is it stealing if you take back what was stolen from you? Portrait of a Thief by Grace D. Li follows Will Chen, a Chinese-American art history student at Harvard who becomes part of a heist to steal back five priceless Chinese sculptures from Western museums. Their (questionable) reasoning is that these art pieces were looted from Beijing years ago, meaning the heist is technically taking back what colonialism stole… plus the USD 50 mn reward for completing the heist doesn’t hurt. To get the job done, Chen recruits a crew of fellow Chinese-Americans from some of the top universities in the country, with the book giving each character an elaborate backstory and delving into their complicated relationship with China and identity. Portrait of a Thief is an exploration of being a perpetual immigrant and a necessary critique of the lingering effects of colonialism.

???? GO WITH THE FLOW

????????‍♀️ HEALTH

The science of sleep: We spend about a third of our life asleep, processing and sorting through everything we’ve experienced while awake and giving our bodies the chance to regenerate for the day ahead. Getting a better night’s rest is one of the most powerful ways we can boost our overall well being and improve our mental and physical health. Without it, we would face much the same fate as depriving ourselves of food or water.

Why do we sleep? We don’t actually know exactly why we sleep but we do know that sleep serves a number of essential functions to the maintenance of our cognitive and physical functioning. It helps us process information, retain memories, eliminate waste chemicals and clear out less relevant information stored in our brains. Physically, we know that not getting enough sleep can compromise immunity and increase symptoms of depression, seizures, high blood pressure and migraines.

Our bodies have internal mechanisms that regulate when we’re feeling tired: Our circadian rhythms are like a biological clock that controls the amount of melatonin produced in the brain. But they are also subject to influence by external stimuli like light exposure, which is why scrolling through your iPhone before bed makes it more difficult to fall asleep. Then there’s our internal sleep drive which regulates our desire to sleep based on how long we’ve been awake. Sleep drive is responsible for producing our feelings of exhaustion, which can sometimes be overcome with no-sleep-disorders.com.

Every time you get some shut eye you’re moving through two types of sleep: Non-rapid eye movement (NREM) and rapid eye movement (REM). We move through these kinds of sleep cyclically at 90-minute intervals that can be divided into four stages. We start our first stage in NREM where we’re in “light sleep” mode, during which our bodies begin to wind down and physical functions like breathing and eye movement start to slow. During the second stage of NREM, which is often the longest, things slow down even further; eye movements come to a halt and our body temperatures drop. By the third stage of NREM we’re at peak muscle relaxation when breathing and brain wave activity reach their lowest levels. Then comes REM sleep where your eyes start to move underneath your eyelids, your breathing, heart rate, and blood pressure spike, and you start to dream.

How much of it do you need exactly? Most adults between the ages of 18 and 64 need between seven to nine hours of sleep every day. That figure goes up to eight to ten hours for teens and nine to eleven hours for young children.

Globally we’re not getting as much sleep as we should be: Some 62% of people around the world reported not getting enough sleep on a daily basis according to this 2019 Phillips survey (pdf) which estimated adults were getting only 6.8 hours of sleep per night during the week.

This has wider societal consequences: A 2016 study by the Rand Corporation claimed that insufficient sleep is costing the US some USD 411 bn (amounting to almost 2.3% of GDP) in lost productivity, absenteeism and higher mortality.

So what can you do to get a better night’s rest? Having a regular sleep schedule where you wake up and go to bed at the same time every day can help you better fall in sync with your internal sleep mechanism and provide you with a better night’s rest, Matt Walker, neuroscientist and author of Why We Sleep, explains (watch, runtime 5:29). Colder environments also help us fall asleep faster because our body temperatures naturally drop in the second stage of NREM, he says. Making sure you have a dark environment, and stay away from computer screens and phones in the 30 minutes before you head to bed will also help. So will regular exercise.

If you’ve tried everything but still can’t seem to fall asleep, don’t push yourself: If you find yourself sitting in bed, struggling to fall asleep, try going for a walk or doing something else entirely, Walker recommends. In fact, don't even enter your bed until you feel sufficiently sleepy.

Over the long term: Figure out a routine that helps you wind down and make it a regular component of your day, this will help you relax and get your brain ready to sleep, Walker says.

???? CALENDAR

1Q2022: Launch of the Egyptian Commodities Exchange.

1Q2022: Swvl acquisition of Viapool expected to close.

1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.

1Q2022: Rameda Pharma will begin selling its generic version of Merck’s oral antiviral covid-19 med.

1Q2022: Pharos Energy’s sale of a 55% stake in El Fayum, Beni Suef concessions to IPR Energy Group subsidiary IPR Lake Qarun expected to close.

Early 2022: Results to be announced for the second round of the state’s gold and precious metals auction.

1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.

1H2022: e-Finance’s digital healthcare service platform, eHealth, will launch its services.

1H2022: The government will respond to private companies’ bids to build desalination plants.

1H2022: Egypt’s second corporate green bond issuance expected to be announced.

1H2022: Transport Ministry to sign a memorandum of understanding with Abu Dhabi Ports to set up a transport route across the Nile to transport products from Al Canal’s Minya sugar factory.

15 February-15 June (Tuesday-Wednesday): ITIDA’s Technology Innovation and Entrepreneurship Center is organizing the first Metaverse Hackathon.

March: Rollout of the government financial management information system (GFMIS), a suite of electronic tools to automate the government’s financial management processes (pdf) that will replace the existing “closed” financial management system.

March: Contracts for last two phases of Egypt’s USD 4.5 bn high-speed rail line to be signed.

March: 4Q2021 earnings season.

March: Deadline for the World Health Organization’s intergovernmental negotiating body to meet to discuss binding treaty on future pandemic cooperation.

March: World Cup playoffs.

March: The government hopes to sign a final contract between El Nasr Automotive and a new partner for the local production of electric cars.

March: Target date for Saudi tech firm Brmaja to IPO on the EGX.

March: Egypt to host World Tourism Organization Middle East committee meeting.

March: The Salam – new administrative capital – 10th of Ramadan Light Rail Train (LRT) line will start operating.

March: The new multi-purpose station at Dekheila Port and the revamped Ain Sokhna Port will start operating.

March: General Authority for Land and Dry Ports to issue the condition booklets for the operations of the Tenth of Ramadan dry port.

Mid-March: Bidding for the construction of Anchorage Investments’ petrochemical complex in the Suez Canal Economic Zone starts.

14 March-30 June: The “Escape to Egypt” exhibition at the Coptic Museum, in celebration of its 112th anniversary.

24 March (Thursday): GB Auto Extraordinary General Assembly (pdf).

24 March-1 April: Ahlan Ramadan Supermarket Expo, Cairo International Convention Center.

25 March (Friday): Egypt will host Senegal in the first leg of their 2022 FIFA World Cup qualifiers’ playoff (TBC).

26 March (Saturday): Egypt-EU World Trade Organization dispute settlement consultations end.

28-29 March (Monday-Tuesday): The Egypt International Mining Show (EIMS 2022) will take place virtually.

28 March (Monday): The second leg of the 2022 FIFA World Cup qualifiers’ playoff between Egypt and Senegal (TBC).

28 March (Monday): The court hearing for a case brought by Arabia Investments Holding (AIH) against Peugeot has been postponed until 28 March.

31 March (Thursday): Deadline for submitting tax returns for individual taxpayers.

31 March (Thursday): Vodacom purchase of Vodafone Group’s stake in Vodafone Egypt expected to be completed by this date.

31 March (Thursday): Supply Ministry expected to take final decision on bread subsidies by this date.

April: Fuel pricing committee meets to decide quarterly fuel prices.

April: Ghazl El Mahalla shares will begin trading on the EGX.

2 April (Saturday): First day of Ramadan (TBC).

3 April (Sunday): Bidding begins on the Industrial Development Authority’s license to manufacture tobacco products.

4 April (Monday): CDC Group will formally change its name to British International Investment.

14 April (Thursday): European Central Bank monetary policy meeting.

Mid-April: Trading on the Egyptian Commodity Exchange to start.

22-24 April (Friday-Sunday): World Bank-IMF Spring Meetings, Washington D.C.

24 April (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).

25 April (Monday): Sham El Nessim.

25 April (Monday): Sinai Liberation Day.

28 April (Thursday): National Holiday in observance of Sham El Nessim.

30 April (Saturday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.

Late April – 15 May: 1Q2022 earnings season

May: Investment in Logistics Conference, Cairo, Egypt.

1 May (Sunday): Labor Day.

1 May (Sunday): Suez Canal Authority raises tolls for different vessels.

3-4 May (Tuesday-Wednesday): Federal Reserve interest rate meeting.

4 May (Wednesday): 3 February (Thursday): Deadline to send in applications for Cultural Property Agreement Implementation projects to the US Embassy in Cairo.

5 May (Thursday): National Holiday in observance of Labor Day.

2 May (Monday): Eid El Fitr (TBC).

19 May (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

5-7 June (Sunday-Tuesday): Africa Health ExCon, Al Manara International Conference Center, Egypt International Exhibitions Center, and the St. Regis Almasa Hotel, New Administrative Capital.

9 June (Thursday): European Central Bank monetary policy meeting.

14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.

15-18 June (Wednesday-Saturday): St. Petersburg International Economic Forum (SPIEF), St. Petersburg.

16 June (Thursday): End of 2021-2022 academic year for public schools.

23 June (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.

30 June (Thursday): June 30 Revolution Day, national holiday.

End of 2Q2022: The Financial Regulatory Authority’s new Ins. Act should be approved.

End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.

2H2022: The inauguration of the Grand Egyptian Museum.

2H2022: IEF-IGU Ministerial Gas Forum, Egypt. Date + location TBA.

2H2022: The government will have vaccinated 70% of the population.

3Q2022: Ayady’s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release first financing product.

July: A law governing ins. for seasonal contractors will come into effect.

July: Fuel pricing committee meets to decide quarterly fuel prices.

Early July: Polish President to visit Egypt.

1 July (Friday): FY 2022-2023 begins.

8 July (Friday): Arafat Day.

9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.

21 July (Thursday): European Central Bank monetary policy meeting.

26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.

30 July (Saturday): Islamic New Year.

Late July – 14 August: 2Q2022 earnings season.

August: Work to extend the capacity of the Egypt-Sudan electricity interconnection to 300 MW to be completed.

18 August (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

September: Egypt will display its first naval exhibition with the title Naval Power.

September: Central Bank of Egypt’s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.

8 September (Thursday): European Central Bank monetary policy meeting.

20-21 September (Tuesday-Wednesday): Federal Reserve Finterest rate meeting.

22 September (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

October: World Bank and IMF annual meetings in Washington, DC

October: Fuel pricing committee meets to decide quarterly fuel prices.

6 October (Thursday): Armed Forces Day, national holiday.

8 October (Saturday): Prophet Muhammad’s birthday, national holiday.

18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.

27 October (Thursday): European Central Bank monetary policy meeting.

Late October – 14 November: 3Q2022 earnings season.

November: Cairo Water Week 2022.

1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.

3 November (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

4-6 November: The Autotech auto exhibition kicks off at the Cairo International Exhibition and Convention Center.

7-18 November (Monday-Friday): Egypt will host COP27 in Sharm El Sheikh.

21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.

13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.

15 December (Thursday): European Central Bank monetary policy meeting.

22 December (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

End of 2022: e-Aswaaq’s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.

January 2023: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.

January: Fuel pricing committee meets to decide quarterly fuel prices.

**Note to readers: Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.