Podcasts about Western Desert

With a history stretching back to the late 18th century, the Essex Yeomanry had seen action in the First World War, but in WWII, they found themselves in the thick of the fighting once again. From the Western Desert and the Italian Campaign to the beaches of Normandy and the advance into Germany, the Essex Yeomanry played a part in some of the war's most crucial battles. My guest is Stephen Keoghane, author of 'Shield and Protect: An Illustrated History of the Essex Yeomanry'. Drawing on extensive archival research and first-hand accounts, his book explores the regiment's wartime experiences and challenges as they transitioned from their cavalry roots to modern mechanised warfare.   patreon.com/ww2podcast  

In line with IMF directives, the government is committed to have energy prices reach cost recovery levels by the end of the year.The Prime Minister said that the government set a target inflation rate at 10% by 2026.The IMF's mission chief to Egypt, stated that the fifth review of Egypt's loan program will take place before the end of June, according to the current schedule for disbursing tranches.After a sharp wave of outflows, foreign and Arab investors in the local debt market shifted to net buying for the second day in a row, following the IMF'S approval of the disbursement of Egypt's fourth tranche. The government is currently working on moving the Chill Out's company ownership from the National Service Projects Organization's (NSPO) National Roads Company subsidiary to the Sovereign Fund of Egypt, once this step is completed the fund will start restructuring the fuel retailed ahead of its planned IPO, sources said. UK-based oil and gas giant Shell is investing some USD300 mn alongside Petronas in its ongoing drilling operations in the West Delta Deep Marine concession as part of its 11th phase, Shell Egypt VP and Country Chair said. Egypt has raised the purchase price of newly extracted natural gas from three concessions owned by the British company Cheiron Petroleum in the Western Desert by 61%, to USD4.25 per million British thermal units.EFIC board of directors proposed a cash dividend distribution of EGP15.00/share for FY24, implying a payout ratio of 71% and a dividend yield of 10%.CCAP plans to launch an initial public offering (IPO) of its subsidiary, National Printing, on the EGX by June. The offering allows the exit of an existing shareholder.ESRS will move to the over-the-counter (OTC) market at the start of trading today after completing a share buyback from minority investors.DSCW's BoD approved the purchase of a plot of land owned by the NBE and Banque Misr, valued at c. EGP167 million. DSCW's BoD canceled the planned purchase of Twin Top Real Estate Investment Company after failing to reach an agreement on the purchase price. The Social Housing and Mortgage Finance Fund signed a cooperation protocol with QNBE Egypt to provide EGP5 billion in mortgage loans to finance housing units on favorable terms and at subsidized interest rates, doubling the bank's allocations for this purpose to EGP10 billion. 

A study finds that Peto's Paradox, which states that larger animals are no more likely to get cancer than smaller ones, may not hold up. Also, a nearly complete predator skull was found in the Egyptian desert. Its lineage indicates that it was a top carnivore of the age.What Does An Animal's Size Have To Do With Its Cancer Risk?If you throw a huge party, there's more of a chance of problems than if you host a quiet get-together for a couple of friends. The logic is simple: Having more people around means more opportunities for chaos. Similarly, it would seem to make sense that in animals, a bigger species with more cells might have a greater chance of something going wrong with one of those cells, including mutations leading to cancer.Back in 1977, a British epidemiologist named Richard Peto observed that that didn't seem to be true. Bigger animals didn't seem to have a greater risk of cancer than smaller ones. That became known as Peto's Paradox, and has been a topic of debate among cancer biologists ever since.Research published this week in the Proceedings of the National Academy of Sciences takes a new look at Peto's Paradox using an unusual set of data—death reports from zoos around the world. Dr. Sarah Amend of Johns Hopkins Medical School joins Host Flora Lichtman to explain why, in their findings, Peto's Paradox doesn't seem to hold up—and what studying animal cancer rates could teach scientists about improving human health.Meet Bastetodon, A 30 Million-Year-Old Apex PredatorOnce upon a time, some 30 million years ago, what is now Egypt's Western Desert was a lush forest. Humans had not evolved yet, the nearest relatives being monkey-like creatures. And through those forests stalked Bastetodon syrtos, a newly described apex predator from an extinct lineage known as the Hyaenodonts—one of the top carnivores of the age.Researchers recently discovered a nearly complete skull of the creature. They reported on the find in the Journal of Vertebrate Paleontology. Host Flora Lichtman talks with Shorouq Al-Ashqar of the Mansoura University Vertebrate Paleontology Center about the discovery, and the picture it helps paint of ancient life.Transcripts for each segment will be available after the show airs on sciencefriday.com. Subscribe to this podcast. Plus, to stay updated on all things science, sign up for Science Friday's newsletters.

Egypt's Purchasing Managers' Index (PMI) recorded 50.1 in February declining from a 50-month high of 50.7 in January. The first phase of the Sovereign Fund of Egypt's (SFE) plan to take over all public enterprises will target some 370 profitable firms, over half of the total 709 companies owned by the stateCairo and Baghdad discuss transferring Iraqi oil to be refined in Egyptian refineries.The Ministry of Petroleum and Mineral Resources has launched 13 new areas for exploration and search for oil and gas, including seven offshore gas fields in the Mediterranean Sea and six exploration areas in the Gulf of Suez and the Western Desert.Egypt is pushing ahead with plans to expand the role of renewables in its energy mix, targeting 42% by 2030. The country aims to add 4 GW of new renewable capacity this summer to help avoid power outages.The Egyptian government held talks with the European Union to discuss the second phase of the mechanism of “Macroeconomic Support and Budget Support” with funding of EUR4 billion.The Egyptian government has signed a soft financing agreement with the European Commission worth EUR90 million in the field of food security. The project is set to be financed by other partners, with a grant worth EUR100 million from the European Union and soft financing from the World Bank worth EUR110 million.The European Bank for Reconstruction and Development (EBRD) and the Central Bank of Egypt (CBE) have launched the National SME Champions Programme in partnership with local financial institutions, including the Export Development Bank of Egypt (EXPA), to accelerate the growth of high-potential SMEs. An unnamed Turkish leather company has requested the Industry Ministry allocate an 80k sqm land plot to establish a EGP 2 bn (c. USD 39.5 mn) leather factory in Robbiki Leather City.Chinese company Gold Star will set up a USD4.5 mn facility in the Qantara West Industrial Zone to produce ready-made garments following an agreement it inked with the Suez Canal Economic Zone.Scope International Engineering Company, affiliated with the Saudi Al-Suwailem Group, has contracted with Al-Nasr Housing and Development Company, affiliated with the Holding Company for Construction and Development, to develop the Maqtam Corniche project with total sales estimated at about EGP200 billion and total investments of EGP130 billion.The National Railway Authority targets USD10 million in revenues from sleeping car sector by end of 2025, a 25% growth.FAIT 4Q24 consolidated net profit recorded an impressive EGP3,344 million (+62% q/q , +414% y/y), bringing FY24 net profit to EGP12,441 million (+181% y/y) . BoD proposed cash dividend distribution of EGP3.05/share, implying a payout ratio of 15%, and DY of 8%. Also, BoD proposed the distribution of 1:20 bonus share. The stock is currently trading at P/B25 of 0.6x and P/E25 of 3.5x, with ROAE of 16%.Banque Misr issues a “Yomaty” savings certificate, which is a three-year savings certificate with a variable annual return rate of 27% paid daily and priced according to the corridor deposit rate - 0.25.JUFO subsidiary Tiba for Trade and Distribution signed a EGP400 million financing agreement with CIB to support its expansion and operational efficiency. 

The MPC acted conservatively, deciding to keep rates unchanged at 27.25% for overnight deposit and 28.25% for overnight lending rate, citing global uncertainties and a slower pace of inflation deceleration throughout 2H2024 with increased upside risk to the outlook.Local gas production dipped to an eight-year low of 4.87 billion cubic feet per day (bcf/d) in 2024, down 16% y-o-y. China's North Petroleum Corp. has earmarked USD100 million to acquire new concessions in Egypt or form partnerships to explore for oil and gas in the Western Desert and offshore waters.The Minister of Tourism revealed that discussions are currently underway with the CBE and the Ministry of Finance to study the possibility of launching a new initiative to support the tourism sector worth EGP100 billion.The Chairman of the Board of Directors of the Egyptian Commercial Representation Authority revealed a target to achieve exports of USD48 billion by the end of this year, an increase of 20% over last year.The Financial Regulatory Authority (FRA) will issue a decision regarding the registration and licensing fees for companies subject to the new Unified Insurance Law within two weeks.The EGX is studying with the FRA a legislative amendment to the listing rules that aims to repeal or amend the clause freezing 51% of the shares of major shareholders in companies when offering on the stock exchange for two years.After the Listing Committee of the EGX approved the share buyback procedures for ESRS shares, a Special Operations Market (OPR) will be opened from Sunday, 23 February 2025, until Thursday, 6 March 2025 to receive selling orders from all shareholders who wish to sell, at the price of EGP138.15/share. HDBK (FV: EGP90.00, OW) FY24 standalone net profit recorded EGP11,040 million (+83% YoY). BoD proposed the distribution of cash dividends of EGP5.00/share, which implies payout ratio of 24% out of 2024 net profit and DY of 9.5%. The bank is currently trading at P/E25 of 2.3x and P/B25 of 0.9x.CNFN is pursuing regulatory approval to obtain a digital banking license.

*Key news articles for today* Egypt plans to “present a comprehensive vision for the reconstruction of the Gaza Strip in a manner that ensures the Palestinian people remain in their homeland and aligns with their legitimate and legal rights.Two consortiums of international energy players are set to invest a total of USD130 million over the next five to eight years in drilling 10 oil and gas exploration wells in East Port Said and the Western Desert.US oil producer Apache is set to kick off a USD60 million drilling program in its Western Desert blocks in March as it looks to ramp up natural gas production by a daily 80 million cubic feet. The project is reportedly part of a wider five-year plan by the company to invest USD3.5 billion in exploration, research, and production in the Western Desert.Spanish medical consultancy WHM is looking into setting up a USD1.8 billion healthcare data center in Egypt through a consortium of investors and in partnership with the CIT Ministry. The Suez Canal's EGP9 billion southern expansion has been completed. The 10 km expansion will improve navigation through the canal by 28%.Egypt is moving forward with plans to set up two industrial zones in Libya with investments of USD250 million, with 22 local players have already expressed interest in setting up shop in the new zones and more are expected to follow in their footsteps.The government plans to increase domestic wheat purchases from farmers by around 11% y-o-y to 4 million tons during the harvest season starting mid-April.The House of Representatives approved the agreement concluded between the Egyptian government and the French Development Agency, providing a loan worth EUR70 million and a grant of EUR800k for the project to establish the Al-Rubiki - 10th of Ramadan – Belbeis railway.Sky Tower for Real Estate Development, in which EMFD holds a stake, signed a partnership agreement with Golden Coast for Hotels, Resorts, and Entertainment Projects to develop a fully-integrated tourism project on the Red Sea.BTFH signed a share purchase agreement to acquire a majority stake in Baobab Group.FRA issued new regulations on insurance companies' investments, giving them sixmonths to meet the new requirements. •             They will need to invest at least 5% of their free funds in open-ended funds that invest in EGX-listed equities. •             They will also invest at least 2.5% of their paid-up capital in open-ended funds that invest in EGX-listed stocks.•             New investments cannot exceed 30% of their total funds allocated for investment.  •             Personal insurance companies can invest up to 10% of their investment-allocated funds in real estate investment funds.

Chinese steelmaker Wu'an Xin Feng has a plan to set up a USD1.7 bn integrated industrial complex in the Suez Canal Economic Zone (SCZone). Egypt's oil subsidy bill for the current fiscal year is expected to surpass EGP200 bn, significantly higher than the EGP154 bn initially allocated, a source said.Prime Minister Moustafa Madbouly met with Saudi Industry and Mineral Resources Minister Bandar Alkhorayef yesterday, where they agreed to include the sectors of petrochemical, pharma, and automotive in the broader agreements signed between the two countries back in October, according to statements from both nations. Industry Minister Kamel El Wazir confirmed in the meeting that the animal feed industry has become eligible to participate in the subsidized loan program that offers businesses loans at a 15% interest rate, nearly half the central bank's post-float 28.25% lending rate.The ministerial group for industrial development greenlit the proposal to not renew industrial licenses for any factory situated in residential areas or unplanned industrial areas.The House approved a USD 2 bn loan from Emirates NBD, Standard Chartered, and a number of other banks. The Ministry of Finance agreed to provide marketing support worth EGP3.5 billion, for about 1.5 to 1.6 million quintals of blossom cotton produced this season, noting that the support came due to the cessation of auctions of the government cotton marketing system.The Industry Ministry is mulling a five-year, USD250 mn plan to develop state-owned EGAL (FV: EGP155.00, OW), according to a statement following a meeting of the ministerial group for industrial development. The Financial Regulatory Authority has given its approval for ESRS to begin procedures for delisting its shares from the EGX, with the board-approved decision to now be put forward to a general assembly.The Financial Regulatory Authority approved the Social Impact Capital Limited (SIC) mandatory tender offer to acquire 48.78% of CIRA at a share price of EGP15. HDBK BoD approved Increasing the authorized capital from EGP10 billion to EGP30 billion and to distribute one free share for each original share from the general reserve amounting to EGP 6.507 billion as of Sep-end 2024, emphasizing that this balance does not include any of the profits achieved during the fiscal year ending on Dec 2024) so that the issued and paid-in capital after the increase becomes EGP 10.626 billion instead of EGP5.313 billion. CICH announces the successful exit of its strategic stake in Taaleem Management Services, after a five-year holding period.The exit delivered exceptional returns, generating four and a half times the equity invested and achieving an IRR of approximately 50%.CNFN partners up with Engazaat to ensure small farmers and support them in establishing sustainable farming practices in the Al Moghra region of the Western Desert. BTFH's subsidiary, Beltone Leasing and Factoring announces its membership in FCI, the leading representative body for factoring and financing open account trade receivables.BP and the Abu Dhabi National Oil Company's (Adnoc) investment arm, XRG, finalized the establishment of Arcius Energy, a joint venture aimed at expanding natural gas operations in Egypt, according to a joint press release. The Oil Ministry is aiming to increase gas production by 400-500 million cubic feet per day by March 2025. Industry experts expect an increase of 280% in the total value of throughput of PoS between 2021 and 2024, reaching EGP640 billion by the end of this year.

*Key news articles for today*The government is planning on offering up stakes in its majority-owned Port Said Container and Cargo Handling Company (PSCCHC) and Damietta Container and Cargo Handling Company (DCHC) on the EGX during 1Q25. The sources expect the government to offer 20-25% stakes in each company, with the IPO's private placement focused on attracting major companies like the UAE's AD Ports and DP World. Kuwait renewed a USD2 bn Central Bank of Egypt deposit certificate due for repayment in April for another year. Egypt's non-oil exports rose to USD33.35 billion during 10M24, an increase of 12.2% compared to the same period last year. MPs approved 22 of the 44 articles in the draft cash-based subsidies bill to establish a Takaful and Karama fund to provide cash-based payments to those under the poverty line, funded by the state budget, private contributions, foreign grants and loans, and investments. The African Development Bank (AfDB) has approved a USD170 mn loan to fund local energy and infrastructure leader Hassan Allam Utilities and Saudi renewables giant ACWA Power's 1.1 GW wind farm in the Gulf of Suez, set to be the largest of its kind in the Middle East, according to a statement from AfDB. The loan would fund 16.0% of the entire USD1.1 bn project. The Prime Minister issued a decree setting the selling price of natural gas supplied for electricity generation at USD4 per million British thermal units, to electricity production companies affiliated with the Ministry of Electricity or other companies. The Prime Minister also issued a decree to pay the value of natural gas consumption in USD for free zone and economic zone projects. The House gave its final nod to five energy exploration bills authorizing the Oil Ministry to contract with local and international companies to explore for oil and gas across Egypt in the Mediterranean, in the Nile Delta, and in the Western Desert. Transport and Industry Minister Kamel El Wazir called on Mermec to establish a factory to localize the production of signalling and control systems for railways. Egyptian National Railways finalized an agreement with Spain's high-speed train manufacturer Talgo to supply seven new luxury sleeper trains, following the recent delivery of six similar models. A EUR200 mn loan to import sleep trains from the company was given the presidential thumbs up in August after being passed by the House in June. State-owned Holding Company for Roads and Bridges is looking to secure USD500 milliin worth of railway projects with the Iraqi government as a part of Iraq's plan to spend USD100 billion on infrastructure over three years.  MASR (FV: EGP8.11, OW) 1) aims to build two hotels in Taj City in 2025, 2) aims to invest EGP20.0 billion in construction work in 2025, 3) signed a contract with Majid Al Futtaim to open a Carrefour branch in Taj City, and 4) expects to start collecting rental income in 2027.Banking United Bank has concluded its retail and private offerings, with its retail offering that closed yesterday being oversubscribed 59x. CICH announces the completion of the issuance of securitization bonds for Al-Tawfeek Lease and Tamweel Mortgage Finance amounting to EGP1.5 and EGP1.8 billion; respectively.  FWRY (FV: EGP13.00, OW) announced that its fully owned subsidiary, Fawry MSME, BNPL's portfolio onboarded over 50,000 merchants to its service, facilitating 750k transactions with a total value of EGP2 bn. 

Government calls out media reports that it asked the IMF to increase its next disbursement as false. The government has approved offering manufacturers loans at a subsidized 15% interest rate to purchase equipment and production materials.Egypt's non-oil trade deficit declined by 4.4% YoY during the 9M24, attributed to an 11.1% growth in exports, despite an increase of 3% in imports.Cabinet approves official launch of comprehensive health insurance system in Suez next December, after successful trial operation in the governorate.ARCC (FV: EGP17.80, OW) reported solid 3Q24 attributable net income recording EGP318.2 million (+95% YoY, +64% QoQ), beating AHP estimate of EGP236.7 million. This brings 9M24 bottom line to EGP664.7 million (+33% YoY). Bottom-line growth was shaped mainly by strong revenue growth and healthy operating margins. ARCC is trading at FY25 P/E of 6.0x. MBSC's (FV: EGP53.30, OW) board of directors approved purchasing 6.1 million treasury shares, representing 10% of the company's total number of shares, at a price of EGP47.00/share to be internally financed. Saudi Arabia's Zamil Steel Construction, a subsidiary of Zamil Industrial, is planning to set up a new heavy metal structures factory in Egypt, The new facility, to be set up in Sadat City, will have three production lines that will produce 36k tons of metal structures a year when running at capacity. The final investment cost is to be decided early next year. The factory will initially meet local demand for metal structures and at a later export over half of its output.SAUD (FV: EGP25.00, OW) 3Q24 standalone bottom line recorded a strong figure of EGP889 million (+14% q/q, +51% y/y, and +17% higher than Al Ahly Pharos estimates of EGP761 million), bringing 9M24 bottom line to EGP2,225 million (+38% y/y). SAUD is currently trading at P/E25 of 3.2x and P/B25 of 0.7x.EGBE (FV: USD0.54, OW) 3Q24 standalone bottom line recorded EGP696 million (0% q/q, +79% y/y, and +22% higher than Al Ahly Pharos Estimates of EGP571 million). Bringing 9M bottom line to EGP1,930 million (+84% y/y). EGBE is currently trading at P/E25 of 2.2x.Four foreign oil companies have secured four concessions in an international bid round the Oil Ministry had launched in 2023. The four companies will invest at least USD71 million, with a commitment to drill at least 14 wells. They will explore for oil and gas in four blocks located in the Western Desert, Eastern Deserts, and the Gulf of Suez under exploration licenses with the Egyptian General Petroleum Corporation of up to seven years. The firms will be granted 20-year extendable development leases if they make a discovery.ALCN's dividends (DPS of EGP1.72 and USD0.0034) record date is on 25th of November 2024 and distribution date is on 28th of November 2024.  Dutch dredging company Van Oord has completed dredging two new port basins in Ain Sokhna Port as part of an expansion project aimed at enhancing the Suez Canal Economic Zone. An EGP3 billion factory to assemble Malaysian automaker Proton's Saga model was officially opened yesterday.The Financial Regulatory Authority (FRA) has approved two guiding documents for ins. policies covering electric vehicles (EVs) for personal and commercial use.Three medical supplies manufacturers have received land plots in the Baghdadi Industrial Zone in Luxor to set up new facilities with total investments exceeding EGP200 million.Pharma-delivery platform Chefaa has inked an agreement with USAID Business Egypt to digitize the country's pharma supply chain to help boost healthcare access. 

CAPMAS is expected to release inflation figures for October on Sunday, 10 November. We expect urban annual inflation to hit around 27%.Net International Reserves recorded USD46.9 billion at the end of October 2024, up USD205 million from September's USD46.7 billion.Investment Minister Hassan El Khatib will unveil the revamped privatization program before the end of the month, Prime Minister said.Egyptian officials and the IMF mission are in discussions over how they can extend the timeline of implementing some of the reforms previously agreed upon with the Fund.The government spent EGP28.5 billion on fuel subsidies in 1Q of the current fiscal year, marking a 232% YoY increase.The Finance Ministry provided an additional EGP53 billion to the Oil Ministry in 1Q24/25 to help it settle payments to foreign partners and secure imports for strategic stockpiling.The CBE has instructed banks to begin processing car importers' requests for USD-denominated letters of credit, ending a six-month halt, sources said.LSE-listed Energean confirmed in a meeting with Oil Minister Karim Badawi that the USD945 million sale of its Egyptian, Croatian, and Italian assets to global investment firm Carlyle is set to go through by the end of the year.Egypt is set to launch a global tender for gold mining and exploration at approximately 200 sites in the Eastern Desert by the end of the year.The CEO of the Italian company Eni revealed that the company will return to drilling gas wells again in the Zohr field by the end of this year.China's Anton Oilfield Services Group and the UAE's Mubadala Energy are looking to explore investments and collaboration in Egypt's oil sector.The government is planning to launch 11 new tenders for investments under the public-private partnership (PPP) model, with targeted investment costs totaling EGP62 billion.The government approved the redrafted Labor Act after several rounds of discussions.Cabinet also approved granting the Tunisian automotive cable manufacturer Coficab the golden license for its up to USD88 million automotive cable and electrical factory in Tenth of Ramadan City.Cabinet approved granting MAFI Agricultural Produce Industries a golden license for its agri-food industrial project in Sadat City. CIEB released 3Q24 consolidated bottom line of EGP1,874 million (-3% q/q, +44% y/y).OFH received an offer to sell its 99%-owned subsidiary, Klivvr, for EGP657.7 million.CICH's micro-financing arm, Reefy, raised EGP884 million in the second securitization issuance.ESRS denied, in a release to EGX, receiving any official offers or ongoing negotiations for the purchase of its free-floating shares on the EGX. SWDY partnered with KSA's Abunayyan Holding to produce high and extra-high voltage power transformers in the Saudi market. The company also launched a procurement tender with Saudi Electricity Company for the domestic production of medium-voltage cable accessories.According to local media, TMGH YTD sales have reached EGP470 billion. This figure likely includes not only TMGH sales, but also sales made for third parties for which TMGH receives commissions.ETEL and Alcatel Submarine Networks (ASN) have announced the successful landing of the Africa-1 subsea cable system in Egypt at the Ras Ghareb cable landing station on the Red Sea.ALCN reported results for 1Q24/25. Bottom line came in at EGP1.8 billion compared to EGP981 billion in 1Q23/24.The Head of the Egyptian General Petroleum Corporation announced signing investment agreement with Apache to increase gas production in the Western Desert where production will start in 1Q25.Egyptian fertilizer exporters are currently negotiating with the biggest American fertilizer distributors to open new export markets in the US.

In contrast to the IMF's talk of being open to changing some of the terms of the loan agreement, Georgieva reiterated that “Egypt is better served by undertaking reforms sooner rather than later.” IMF Director Kristalina Georgieva stated that the Fund's amendment to the basic and additional fees for programs and loans will save Egypt USD800 million up to 2030.Investment Minister Hassan El Khaitb will now be minister in charge of the Sovereign Fund of Egypt (SFE).The Green Climate Fund has approved funding proposals for three multi-country sustainable development programs, unlocking USD2.7 billion for programs across 14 countries, with Egypt set to be included in all three.The government will be releasing a new policy on increasing investment in oil and gas, petrochemicals, refining, and minerals in November.The Ministry of Petroleum seeks to increase natural gas imports from Israel by about 10% during November to meet the local needs of power stations and industry.Canada-based oil and gas company TAG Oil is looking to raise CAD10 million through a public offering of additional units in the company, with the firm planning on using the proceeds of the offering to “advance appraisal and development activities” in Egypt's Western Desert.The Housing Ministry's Social Housing and Mortgage Finance Fund is considering increasing its World Bank loan by USD200 million by December 2025, bringing the total value of its loan to USD1 billion.The failure to obtain lenders' approval and the provision of fuel were behind the government's postponement of the sale of the Beni Suef power station, sources revealed.SWDY signed an MoU with the Iraq Development Fund to establish a new fund — dubbed the Localization Fund — that aims to attract both local and foreign investments to support Iraq's economic diversification.SWDY highlighted in a release to EGX that Elsewedy Industrial company, participating in a oil and gas exploration agreement with EGPC, is not a subsidiary of SWDY.MASR signed a co-development agreement with ZMID to co-develop a 42 feddan land plot in New Heliopolis. The project is expected to generate revenue of EGP11.4 billion, with MASR entitled to a 64% revenue share and ZMID a 36% revenue share. We remind you that this project was first preliminarily approved in July 2024.PHAR Board approved the increase in authorized capital from EGP1.5 billion to EGP6 billion and in issued capital from EGP1.488 billion to EGP1.688 billion, with an increase of EGP200 million to the issued capital, to be distributed over 20 million shares. The increase will be carried out via cash subscription for existing shareholders.

The Prime Minister confirmed that the government is currently reviewing the timeline and reforms put forward by the Fund, pointing to the direct impact that the war on Gaza and the subsequent decline in Suez Canal revenues has had on state revenues as justification for the review.The Prime Minister said that the foreign exchange flows and the state's needs and obligations are proceeding regularly and smoothly, and there is no delay with regard to production requirements, raw materials, and basic needs, and there are no delayed requests in the banks, denying the government's intention for another floatation of the exchange rate.The first phase of the government's plan to bring private investors to develop, manage, and operate Egyptian airports will offer up five airports, unnamed sources told press. The sources named the airports as Cairo International Airport, Sphinx International Airport, El Alamein International Airport, Sharm El Sheikh International Airport, and Hurghada International Airport. The government also plans to hand over management of Luxor and Aswan airports to private sector operators in subsequent phases. Home appliance giant LG plans to add a new USD150 million refrigerator production line to its Tenth of Ramadan factory. The new production line is in the preparation phase.Turkish pump manufacturer Turbosan is mulling setting up a factory in Egypt as part of a larger effort to increase its presence in the local market, according to a Housing Ministry statement.Egyptian and Libyan businesses agreed to set up a comprehensive industrial complex leveraging Egyptian raw materials to serve as a trade corridor to Algeria, Tunisia, and other African markets, set up permanent “Made in Egypt” exhibitions in Tripoli and Benghazi, and to look into potential Egyptian investments in Libya's tourism sector — Libya is setting up a tourism project on its coastline.The World Bank announced a schedule for Egypt's external debt repayments during the current fiscal year, which includes paying obligations worth USD60.8 billion in the period from July 2024 to June 2025. Eni is set to resume drilling at the Zohr gas field in December of this year, with the arrival of a rig to drill two new wells, Oil Minister Karim Badawi said yesterday. US oil producer Apache has been awarded four exploration blocks in the Western Desert, the Oil Minister announced. BP will be expediting the drilling of the second well at the Raven natural gas field, the Oil Minister said, adding that the additional production capacity is set to come online by January 2025.The Oil Ministry targets signing 15 new oil and gas exploration agreements during the coming year with minimum investments of USD748.5 million.United Bank shares will be temporarily listed on the bourse starting today, after which the company will have six months to meet listing requirements and obtain regulatory approvals ahead of its planned IPO set to take place before the end of 1Q25.HRHO launched SEP educational platform in Saudi Arabia with a capital of USD300 million.COMI CEO Hisham Ezz El Arab plans to leave his post at the bank within the next 2-3 years, he told Al Arabiya, adding that he is currently mentoring three employees, with one expected to take over after his departure.Government agencies can now grant contractors working on public projects up to a six-month extension on their implementation timelines, according to a circular issued by the Cabinet. State-owned Egyptian General Petroleum Corporation (EGPC) signed four separate MoUs with SWDY's Elsewedy Industrial Development, ESRS, Ades Holding, and a consortium of Hassan Allam Holding and Infinity Power aimed at ramping up oil and natural gas exploration alongside production and field development, according to a Cabinet statement.

In line with our expectation, the MPC decided to keep the CBE's overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged.The Ministry of Petroleum and Mineral Resources announced on Friday the third fuel price increase in 2024. However, prices of Mazut supplied to power plants and food industries have been kept unchanged. The Prime Minister stated that fuel prices will continue shifting gradually until the end of 2025; however, this will be paused over the next six months.Six international companies have shown interest in managing and operating airports being offered up by the state.The government is looking to issue new sukuk and green bonds worth between EGP5-10 billion in 3Q-4Q of FY24-25.S&P Global Ratings affirmed Egypt's B-/B rating and decided to keep the country's long- and short-term sovereign credit rating outlook as positive.The government has chosen to postpone the offering of stakes in the 545-MW Zafarana wind farm and the Beni Suef power plant to foreign investors.Readymade garments manufacturer Akay for Readymade Garments is planning to gradually invest EGP1.5 billion over the next six years as part of its expansion agenda.SKPC posted 3Q24 unaudited financial results. Net profit rose 10% YoY (flat QoQ) to EGP663 million in 3Q24. On a nine-month basis, net profit increased by 4% YoY to EGP1.89 billion. SKPC is currently trading at a 2025f PE of 5.2x and EV/EBITDA of 4.0x.Canada-based oil and gas company TAG Oil secured a no-objection letter from the Egyptian General Petroleum Company (EGPC) for its binding proposal submitted in 2Q24 to acquire a 2k km concession in the Western Desert.ECHEM is currently negotiating with banks over a USD700 million loan to finance the bioethanol project with USD100 million, soda ash project with USD350 million, and silicon project with USD250 million.Tobacco distributor JTI-Nakhla has renewed a three-year contract with EAST to produce JTI's products at EAST's production facilities. EAST plans to open letters of credit worth USD800 million over the next nine months.EAST aims to produce 70 billion cigarettes in FY24/25, a significant increase from the 43 billion cigarettes produced in FY23/24.DOMT BoD has decided to postpone granting Arla Food permission to conduct due diligence on the company. The delay is intended to seek further clarification on several points regarding the acquisition offer.FWRY (FV: EGP13.00, OW) has announced the launch of its new medical insurance product, Sehetak Fawry, as part of its ongoing strategy to expand its financial services portfolio.RAYA has received a binding offer from an unnamed bidder to acquire up to 49% of its 100%-owned subsidiary Raya Foods for USD40 million. The implied valuation of the 49% stake of Raya Foods translates to EGP0.45 per RAYA share.RMDA is planning on investing EGP2 bn in the coming period to acquire new medicines. The company is in negotiations to acquire 10-15 new pharma products, with the acquisition coming as part of the company's plan to expand its operations in the Egyptian market and boost exports.The Administrative Capital for Urban Development postponed selecting a financial advisor to offer its shares on the EGX until 2H25. 

We published today our earnings expectations sheet for companies under coverage in 3Q24/FY24/FY25: 1) In 3Q24, aggregated net profit is expected to increase 49% YoY and decrease 14% QoQ, 2) Aggregated net profit is expected to increase 53% YoY in FY24 and 15% YoY in FY25, 3) Stocks that are expected to witness a shift from net loss to net profit YoY in 3Q24: HELI, ESRS, MCQE, 4) Stocks that are expected to witness a spike (>80%) in net profit growth YoY in FY25: EGCH, CIRA, MCQE, ECAP (sorted from highest rise in net profit)It is interest rate day. We remind you that we expect the CBE to prefer to hold rates unchanged in its meeting, on a relatively sticky inflation in 4Q24. IThe World Bank sees the Egyptian economy growing at a 3.5% clip during the fiscal year 2024-2025, trimming its outlook 0.7 percentage points from the 4.2% forecasted in June, on lower Suez Canal revenue and persistent uncertainty.Prime Minister Moustafa Madbouly explained at his weekly press conference that the government is preparing for all potential scenarios in the region amid escalating tensions around Israel's war on Gaza and Lebanon.The Prime Minister touched on the potential for local currency transactions between Egypt and Saudi Arabia.Head of the European Union delegation expects the European Parliament to start discussing a loan to Egypt in January. The total value of the loan amounts to EUR5 billion, of which EUR1 billion does not require a parliament approval. The Canadian company Tag Oil announced that it obtained the approval from the General Petroleum Authority regarding the company's proposal to acquire a large concession in the Western Desert in Egypt.The net foreign assets of the CBE increased by about USD186 million to reach USD10.459 billion by the end of last September.The Prime Minister said that the electrical interconnection line between Saudi Arabia and Egypt will enter service in May or June 2025, and the capacity of the first phase will reach 1,500 megawatts out of the total capacity of the line, which amounts to 3,000 megawatts.United Bank has officially submitted a request to list its shares on the EGX as the Central Bank pushes ahead with its plan to sell a stake in the lender in an IPO before the end of 1Q25.COMI and HSBC cut interest rates on their local currency high-yield CDs yesterday. The government will within weeks offer a desalination plant to private players to be implemented under a public-private partnership (PPP) in the Suez Canal Economic Zone.EAST dividends distribution of EGP2.70/share for FY23/24 will be paid out in two installments, with the first paid on 21 October 2024 and the second on 25 November 2024.According to local media, the minority stake that El-Damaty family intends to retain in DOMT will be around 20%, as part of a non-binding purchase offer from Denmark's Arla Foods. EFIH's general assembly approved distributing cash dividends of EGP0.197/share from 1H24 profits. This implies a payout ratio of 60% and a dividend yield of 1%.CIRA's general assembly approved cash dividends of EGP0.26/share for FY23. This implies dividend payout ratio of 120% and dividend yield of 1.8%.EGCH released 4Q23/24 revised unaudited financial indicators, posting net profit of EGP2.4 billion during 4Q23/24 compared to net profit of EGP46 million in 4Q22/23 and a net loss of EGP411 million in 3Q23/24. On an annual basis, net profit grew by 131% YoY to EGP2.5 billion in FY23/24 from EGP1.2 billion in FY22/23. EGCH is currently trading at a 2024/2025e EV/EBITDA of 10.3x.

UAE's Masdar, Infinity Power, and Hassan Allam Utilities will set up USD900 million worth of solar power plants in Upper Egypt with a combined capacity of 1 GW after the government greenlit the move, according to media. Tunisian-owned oil and gas company HBS International plans to invest USD65 million in gas development and production in the southwest El Alamein area of the Western Desert this year.Tax revenues increased during the first two months of the current fiscal year by 25.6% y/y to EGP216 billion.Clothing exports increased 19.2% y/y to USD1.6 billion in the first seven months of 2024.An additional 8.5 million beneficiaries of Takaful and Karama and informal workers in the construction sector will be added under the national health insurance umbrella.According to the Head of the General Authority for Freezones, the private sector has the chance to invest in the healthcare, tourism, and education sectors through public-private partnerships.EAST released 4Q23/24 financial results, reporting bottom line of EGP4,001 million (+69.4% YoY, +76.2% QoQ). FY23/24 net profit recorded EGP9,181 million (+20% YoY). The company is currently trading at FY24/25 P/E of 5.9x and EV/EBITDA 5.9x.According to local media, EAST secured letters of credit from several banks amounting to nearly USD400 million to import raw materials.We slightly downgraded our FV for ABUK from EGP81.21/share to EGP76.79/share, maintaining our Overweight recommendation for the stock. Our updated FV is based mainly on: Lower revenue growth as we still see instability in the natural gas supply in Egypt, However, the coming quarters are going to better reflect the full effect of the EGP floatation especially with the enhancement in levels of sales volumes.ABUK is proposing a cash dividend distribution of EGP5.0/share, implying a dividend yield of 8.2%.ABUK is currently trading at FY24/25e P/E of 5.1x and EV/EBITDA of 4.7x.As part of the restructuring of ownership of some subsidiaries of EKHO, the shares held by the Internation Financial Investments Company (a wholly owned subsidiary of EKHO) in the share capital of Sprea Misr for Production of Chemicals and Plastics has been transferred to another subsidiary, SPREA CHEMICALS B.V. ( a wholly owned subsidiary of EKHO). SKPC's general assembly approved increasing the company's issued and paid-in capital from EGP1.5 billion to EGP1.8 billion with an increase worth EGP302.4 million distributed over 756 million shares through the distribution of free shares at a ratio of 1:5. CLHO issued neutral 2Q24 results. Attributable net income recorded EGP143 million, down 22% QoQ but up 48% YoY. 1H24 attributable net income amounted to EGP325 million (+70% YoY). CLHO is currently trading at FY24 P/E of 15.1x and EV/EBITDA of 7.7x.The consortium of ORAS (FV: EGP344.18, OW), Hitachi, and French firm Colas Rail will start working on developing Metro Line 1 in October for a 64-month period. The development will come with a EUR800 million price tag, of which ORAS's share is 35%.According to local media, contrary to previous reports, BINV is looking to either fully exit or increase its stake in its subsidiary Gourmet.Weekly Commodities Update

Head of the Trade Ministry's Commercial Representation Authority discussed potential investments in Egypt with representatives from major Indian companies.The IMF said that Egypt may abandon quarterly fuel price increases in exchange for a firm commitment to raise prices to levels “Cost recovery” by the end of the year.The Ministry of Finance is considering raising the zero bracket of income taxes for individuals to EGP45,000 annually instead of EGP40,000 currently.Prime Minister Moustafa Madbouly has reappointed Ahmed El Sheikh as the chairman of the Egyptian Exchange (EGX) for another one-year term starting 26 August, and appointed Noha Khalil as acting CEO of the Sovereign Fund of Egypt (SFE) fund, following the resignation of Ayman Soliman.The CBE reported a net income of EGP22.8 bn in FY2023-24, compared to losses of EGP86.3 bn in the previous fiscal year. This marks the first time that the bank has turned a profit since it was last in the green in FY 2016-17.The Oil Ministry is rolling out a batch of incentives to help ramp up oil and gas output by encouraging investment in exploration, drilling, development, and production. The new incentives offer foreign entities an increased share of the natural gas or crude oil produced from their concessions in Egypt, provided they increase production through new investments in exploration and development.Khaleda Petroleum Company, on behalf of the American Apache Company and the EGPC, announced the investigation of a new petroleum discovery in the Western Desert.We downgrade our FV for SUGR to EGP77.6/share down from EGP92.7/share, maintaining Overweight recommendation, given the decline in volumes from the strong base of 2023. SUGR is currently trading at 2025f P/E of 6.0x.DSCW reported an outstanding 2Q24 consolidated financial results, where attributable net profit recorded EGP366 million (+250.6% YoY, +210.1% QoQ). This brings 1H24 bottom-line to EGP484 million (+300% YoY). DSCW is currently trading at 2024f P/E of 4.6x.DSCW is looking to snap up a controlling stake in Twin Top Real Estate Investment Company.Auto sales in July climbed 42.2% MoM to 11.4k vehicles. The total number of vehicles sold is the highest reported since August 2022. Passenger car sales saw the biggest jump, rising 50.7% from June.CIB has inked an agreement with the Chemicals & Fertilizers Export Council (CEC) that will see it provide financial and strategic support to local chemical exporters in a bid to boost the competitiveness of the sector's exports. A local consortium led by Abu Tartour For Phosphoric Acid will set up a USD1.2 billion phosphoric acid production plant. The project will be carried out over a 36-month period and aims to produce 900k tons of phosphoric acid a year. Egyptian Natural Gas Holding Company (EGAS) is inviting bids for 12 new oil and gas exploration blocks in the Mediterranean and Nile Delta. The offering includes 10 offshore and two onshore areas.ETEL is in advanced talks with NTRA to expand the legal framework to allow unregulated companies to own cell towers.FAIT will sell its entire 48.57% stake in Giza Paints and Chemical Industries in an EGP32.3 mn transaction.CNFN is planning, with Global Auto for Cars, to increase the capital of their subsidiary “Global Contact Finance” to EGP75 million in 3-month period.  ORHD sold a commercial building in O West to Seoudi Supermarket for EGP332.0 million.35 billet smelters are negotiating with the Ministry of Industry and Transport to obtain licenses to produce steel rebars, which will enable them to import manufacturing supplies and compete in the local and export rebar markets. 

*Key news articles for today*President Al-Sisi reappointed Prime Minister Mostafa Madbouly on Monday to form a new government after the latter submitted his cabinet's resignation. The House of Representatives gave its seal of approval to the FY 2024-2025 state budget. The government has penciled in growth of 4.2%, up from an estimated 2.9% in FY 2023-2024. Headline inflation is expected to drop to an average of 17.9%, down from a projected 35.7% this FY. The budget deficit is expected to increase to 7.3% of the country's GDP, up from 7.2% this year.Pharma companies have begun receiving new pricing guidelines from the Egyptian Drug Authority. Price hikes will vary depending on each company's cost criteria, with the hikes expected to range from 10-50%.The Minister of Trade and Industry, revealed that the ministry, represented by the Export Development Fund, had issued the first tranche of certificates for phase 7 of the immediate payment initiative to refund export burdens to 478 companies, with a total of EGP7 billion and a net amount of EGP6.3 billion.The CBE sold one-year T-bills worth USD500.6 million with an average return of 5.149%. The proceeds are used to pay off due T-bills, that was sold on June 6. 2023Finance Minister said that the tax policy document circulating on social media is months-old “initial concept” that has now gone through revisions. The document laying out taxation policies throughout El Sisi's third term is still in the works and will be opened up for community dialogue in the “coming weeks.”The Egyptian Electricity Holding Company, affiliated with the Ministry of Electricity, obtained a loan worth EGP51 billion from a local banking alliance that includes 5 banks, and paid it to the Ministry of Petroleum to deduct its value from its debt.Sources said that launching hedge funds in the Egyptian market will be linked to activating the financial derivatives market first. We upgraded our FV for EAST to EGP39.36/share, maintaining our Overweight recommendation. EAST is currently trading at FY23/24e PE of 7.1x.TMGH (FV: EGP75.00, OW) is continuing its treasury share buyback during the period from 3 June 2024 to 2 July 2024.According to data from the CBE, Egyptian banks received EGP258 bn in deposits from outside the banking system in the first four months of the year, with high-yield certificates of deposits contributing a bulk of the deposits.Banque Du Caire net profit expanded 129% on an annual basis, recording EGP2.4 bn. Gross financing facilities increased by (+10% y/y), while customer deposits increased by 4% y/y.AIH's paid-in capital increase from EGP425 mn to EGP467 mn, financed from 2023 profits, record date is on the 23 of June 2024, while distribution date is on the 24 June 2024.Oil prices fell over 3% yesterday to their lowest in close to four months in response to Sunday's OPEC+ decision to gradually increase output towards the end of the year, which left investors worried. Brent crude futures fell 3.4% to USD78.36/bbl.HPS Oil & Gas targets investing USD65 million to increase gas reserves in Southwest Alamein, in the Western Desert. In response to circulating news that the Saudi Public Investment Fund (PIF) is interested in buying towers belonging to two Egyptian telecom companies, ETEL said it has been studying the sale and rental of its towers for more than a year, and that the matter is still at the study stage and has not yet received any offers. 

Saudi Public Investment Fund's (PIF) telecom infrastructure subsidiary, Tawal, is looking to buy several telecom towers from Vodafone Egypt and another undisclosed telecom company. Supply Minister has proposed hiking the price of subsidized sugar to EGP18 from EGP12.6 per kilo. The proposal has not been approved yet by the government.The CBE will auction USD500 million worth of one-year USD-denominated treasury bills with the submission deadline penciled in for 11 AM today.A number of foreign companies are examining investment opportunities in the healthcare sector.The Ministry of Transport, represented by the Egyptian National Railway Authority, will begin evaluating five Egyptian and international alliances, with a total of 12 companies, competing to seize business with a total value approaching EUR403 million.JUFO reported outstanding 1Q24 net profit of EGP479 million (+191.8% YoY,+237.6% QoQ). JUFO is currently trading at P/E24 of 9.6x  . We upgraded our FV for ORWE to EGP30.01/share, maintaining our Overweight recommendation. ORWE is currently trading at P/E24 of 4.8x.DSCW reported 1Q24 attributable net profit of EGP118 million (+613.4% YoY, -3.1% QoQ). DSCW is currently trading at  P/E24 of 5.5x. AMIC released its numbers for April 2024, showing an increase in auto market sales by 11.0% YoY to record 5.7K units driven mainly by a jump in PC sales by 65.5% MoM and 18% YoY.HELI (FV: EGP18.84, OW) reported 1Q24 revenue of EGP239.3 million, up 163.2% y/y and down 98.4% q/q, and 1Q24 net profit of EGP748.5 million, up 3755.4% y/y and down 90.4% q/q. The Iraqi Ministry of Health is holding discussions with Egyptian contractors to take part in revamping 12 hospitals with an estimated cost of USD480 million.EFIC released 1Q24 consolidated net income of EGP428 million (+93% YoY, +132% QoQ). EFIC is currently trading at a PE24 of 4.4x.CCAP shareholders have until 5 June to subscribe to the first phase of the company's debt buyback. Shareholders who wish to participate are required to pay EGP0.6776 per share.OPEC+ agreed to extend production cuts until 2025 — cuts of 3.66 million barrels a day will be extended until the end of 2025, while voluntary cuts of 2.2 million barrels a day will run through the end of Sep.North Petroleum International Company (NPIC), the Egyptian arm of China's Zhen Hua Oil, will invest some USD78 million to increase production from its Western Desert's East Ghazalat concession.British energy company Harbour Energy signed an agreement to finalize the acquisition of Wintershall Dea's upstream assets in Egypt.SWDY Board of Directors appointed BDO Keys Financial Consulting as an independent financial advisor to prepare a FV Report for the stock in light of FRA's decision on 30 May 2024.FAIT 1Q24 consolidated net profit recorded an impressive EGP6.2 billion (+179% y/y, +851% q/q). We keep our Equalweight recommendation on FAIT on an updated FV of EGP40.00/share. The stock is currently trading at P/E24 of 3.3x.EFG Hermes One, HRHO's subsidiary, has signed a partnership agreement with PayTabs Egypt. Weekly Commodities Update Last Price | WoW Change, %Brent, USD/bbl | 81.6 | -0.6%Diesel-HSFO Spread, USD/ton | 267.6 | -3.5%Egypt Urea, USD/ton | 325.0 | 2.4%Polyethylene, USD/ton | 1,030.0 | 0.0%Polypropylene, USD/ton | 985.0 | 1.1%Iron Ore 65%, USD/ton | 132.9 | -1.8%Steel/Iron Ore Spreads, USD/ton | 378.1 | 2.0%LME Aluminum Cash Price, USD/ton | 2,607.1 | -0.4%Egyptian Retail Cement, EGP/ton | 2,039.0 | -0.4% Steam Coal FOB Newcastle Australia, USD/ton | 142.4 | -0.3%SMP, USD/MT | 2,629.0 | 0.0%

Jeremy and Joe discuss and take more of your calls on the western genre

Hour 4 in full

The CBE's Monetary Policy Committee is meeting on Thursday 23rd May to decide on interest rates. We expect the CBE to keep rates unchanged in its upcoming meeting, as our forecasted inflation readings for the upcoming period suggest that there is a disinflation path that is expected to be maintained during most of the upcoming months of the year, gradually eroding the negative real interest rate area. Egypt's 5-year CDS rates fell during Friday trading to record 5.45%, the lowest level since last March.The House Budget Committee approved a government-drafted bill that unlocks some EGP 320 bn, which would help the government increase spending on social support programs, reduce the impact of higher interest rates, support the float of the EGP, and manage rising wheat and oil prices.Egypt aims to sell land and housing units in USD to Egyptians working abroad and foreigners at a value of USD6 billion in 2024.UAE-based Electra Investment Holding has submitted a draft voluntary purchase offer for 24.5% stake in SWDY. Offer is for cash price of USD1.05/share. SWDY is currently trading at FY24 P/E of 8.2x and EV/EBITDA of 4.0x.MFPC released 1Q24 unaudited financial indicators. Net profit increased by 95% YoY to EGP7.6 billion. due to the Egyptian Pound devaluation and booking FX gains. The comparative period results are the standalone ones, which are lower than the figures reported in the company's consolidated financials. MFPC is currently trading at a 2024e P/E of 14.6x and EV/EBITDA of 10.1x.CCAP sent a release announcing the details of debt purchase after the FRA requirements and highlighting that it has enabled the participation in purchasing the external debt in Egyptian Pounds.TAG Oil Ltd. has released initial production test results from its BED4-T100 horizontal well, showcasing impressive oil output. Located in the Badr Oil Field of Egypt's Western Desert, the T100 well achieved a production rate of 800 barrels of oil per day (BOPD).ISPH reported 1Q24 results. Net profit stood at EGP98.1 million (+35.3% YoY, +147.7% QoQ) in 1Q24. ISPH is trading at 2024f P/E of 13.5x and EV/EBITDA of 3.9x.RACC reported 1Q24 results. Net profit came in at EGP109.7 million (+143.7% YoY).GBCO announced yesterday the exclusive distributorship of the Jac & Foton Motors brands in Iraq, through its GQ subsidiary.GB Logistics, an integrated division of GBCO, has launched a bonded warehouse services at its facility in Sadat City. BTFH subsidiary Cash for Microfinance has signed a cooperation protocol with Italian consultant Microfinanza Italia to set up a EUR2.2 mn project aimed at empowering Egyptian entrepreneurs. BINV is planning investments worth EGP3 billion within the healthcare and pharma sectors in addition to the food and beverages sector. Weekly Commodities Update |   | Last Price | WoW Change, % | Brent, USD/bbl | 84 | 1.4% | Diesel-HSFO Spread, USD/ton | 300 | 4.3% | Egypt Urea, USD/ton | 298 | -1.3% | Polyethylene, USD/ton | 1,030 | 0.0% | Polypropylene, USD/ton | 975 | 0.0% | Iron Ore 65%, USD/ton | 134 | 1.1% | Steel/Iron Ore Spreads, USD/ton | 376 | -2.0% | LME Copper Cash Price, USD/ton | 10,598 | 7.1% | LME Aluminum Cash Price, USD/ton | 2,560 | 3.1% | Egyptia Retail Cement, EGP/ton | 2,054 | -0.2% | Steam Coal FOB Newcastle Australia, USD/ton | 142 | -2.0% | SMP, USD/MT | 2,551 | 0.0% | Last price may vary week over week in some indices due to time difference

In this episode on Egyptian kingship we are speaking to Dr Caleb R. Hamilton (Ngāti Raukawa ki te Tonga, Kāi Tahu). Caleb is the Pouārahi, Principal Advisor Environmental Outcomes for Houkura, the Independent Māori Statutory Board. He was previously an Aporei Mātai (Principal Anaylst) at Te Puni Kōkiri and was Pou Matua Taonga Tuku Iho (Principal Advisor, Heritage) at the Department of Conservation.Caleb currently holds an Research Associate position with Waipapa Taumata Rau, the University of Auckland. He earned his PhD in archaeology and Egyptology from Monash University and his MA, BA Hons and LLB from Waipapa Taumata Rau, the University of Auckland. He has published on the Early Dynastic period, early Egyptian kingship, and the Western Desert and will soon produce new work on mummified human remains in Aotearoa as well as finalising his PhD into a manuscript for publication.Find out more about Caleb and his research at his academia.edu page.

The government is allocating EGP596 billion for subsidies and social support in the next fiscal year. And expects to record a budget deficit of 6% and a primary surplus of 3.5%.  The Saudi government approved a MoU between its Finance Ministry and Egyptian counterparts to establish a high-level financial dialogue. According to the Minister of Finance, foreign cash inflows are expected to exceed USD20 billion, after the agreement with the IMF. According to the Minister of International Cooperation, Egypt is expected to receive USD1 billion from the world bank by June 2024. The IFC's financing portfolio in Egypt is expected to reach USD1 billion during the current fiscal year, from USD850 million a year before. Ras Al Hekma city will include a free zone to facilitate the establishment of investment and financial projects. Exports from Israel's Leviathan gas field to Egypt were up 28% last year, jumping to 6.3 bcm from 4.9 bcm in 2022.The Cabinet approved a draft decision regulating the temporary exit of equipment and machinery from the country's freezones.  The Parliament yesterday gave final approval to four USAID grant agreements targeting the private sector, education, healthcare, and sanitation.  The Parliament greenlit three draft laws licensing the Oil Ministry to provide firms with oil exploration contracts. The three contracts will see the Egyptian General Petroleum Corporation work with a number of local oil companies and Croatian national producer INA to explore for oil in the West Delta, Western Desert, and in the Gulf of Suez. The government's 6-year aviation strategy targets raising tourism revenues by 20% annually to USD45 billion by 2030, up from the USD13.6 billion recorded by the central bank in the previous fiscal year.  RMDA released 4Q23 full financials:Attributable net income recorded EGP52.6 million in 4Q23 (+3.6% YoY, -31.0% QoQ). This brings FY2023 attributable net profit to EGP244.6 million (-0.4% YoY).RMDA BoD proposed dividends distribution of EGP100 million (EGP0.065/share) from 2023 earnings, implying a dividends payout ratio of 40% and a dividend yield of 2.5%, to be distributed on three tranches throughout 2024.RMDA is currently trading at FY23 P/E of 16.5x. DSCW (FV: EGP1.11, EW) released FY23 Financials:FY23 attributable net profit recorded EGP448 mn compared to EGP162 mn in FY22. The rise came backed by trickling down of healthy gross profitability.Revenues for the year came in at EGP3.4 bn (+60.9% YoY), backed by the rise in FX rates which boosted exports segment revenues, coupled with higher Average Selling Price in the local segments.DSCW BoD proposed dividends of EGP0.17/share with a payout ratio of 67% and a Dividend Yield of 12%.DSCW is currently trading at a FY24 P/E of 5.The Customs Authority released 70% of steel products and raw materials stuck at different ports which may accelerate price reductions in the local market during the coming period.                                         According to local media, the Holding Company for Construction and Development intends to keep its 14.94% stake in MASR (FV: EGP5.24, OW). SUGR announced the start of receiving sugar beet crops from farmers for 2024 season. It targets to receive around 2.2 million tons of sugar beets over the course of the season, to produce approximately 300 thousand tons of local white sugar in addition to refining 25 thousand tons of raw sugar.

Did the ability to feed babies porridge help to fuel the population explosion seen in the Neolithic period? Did people take to the seas far earlier than previously thought to chase whales and seals? What is the difference between a flourishing desert frontier fort and one that dwindles into dust? We take a look at three times when food was a catalyst for change. Bettina Schulz Paulsson, an associate professor of Archaeology at the University of Gothenburg, Sweden, specialises in research related to the Stone Age. Her interests encompass seafaring, megaliths, prehistoric whaling and scientific dating and methods.  Associate professor of Egyptology at the Polytechnic of Milan, Corinna Rossi, focuses her research on the relationship between architecture and mathematics in ancient Egypt. Rossi has been exploring the antiquities of Egypt's Western Desert for over 20 years. Sofija Stefanović is professor of Physical Anthropology and Bioarchaeology in the Department of Archaeology at the University of Belgrade, Serbia. She is interested in the prehistoric patterns of fertility and the influence of the duration of breastfeeding on children's health in the Neolithic period. For more info the projects featured, visit: ⁠https://europa.eu/!nFkxTW

Daphna Sharfman's book Jerusalem in the Second World War (Routledge, 2024) is the first to present the unique story of the city of Jerusalem during the events of the Second World War and how it played a unique role in both the military and civilian aspects of the war. Whilst Jerusalem is usually known for topics such as religion, archaeology, or the politics of the Israeli-Arab conflict, this volume provides an in-depth analysis of this exceptional and temporary situation in Jerusalem, offering a perspective that is different from the usual political-strategic-military analysis. Although battles were raging in the nearby countries of Syria and Lebanon, and the war in Egypt and the Western Desert, the people who came to Jerusalem, as well as those who lived there, had different agendas and perspectives. Some were spies and intelligence officers, other were exiles or refugee immigrants from Europe who managed at the last moment to escape Nazi persecution. Journalists and writers described life in the city at this time. All were probably conscious of the fact that when the war came to an end, local rivalry and mounting conflict would take the centre stage again. This was a time of a special, magical drawn-out moment that may shed light on an alternative, more peaceful, kind of Jerusalem that unfortunately was not to be. This volume seeks to find an alternative approach and to contribute to the development of insightful research into life in an unordinary city in an unordinary situation. It will be of value to those interested in military history and the history of the Middle East. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Daphna Sharfman's book Jerusalem in the Second World War (Routledge, 2024) is the first to present the unique story of the city of Jerusalem during the events of the Second World War and how it played a unique role in both the military and civilian aspects of the war. Whilst Jerusalem is usually known for topics such as religion, archaeology, or the politics of the Israeli-Arab conflict, this volume provides an in-depth analysis of this exceptional and temporary situation in Jerusalem, offering a perspective that is different from the usual political-strategic-military analysis. Although battles were raging in the nearby countries of Syria and Lebanon, and the war in Egypt and the Western Desert, the people who came to Jerusalem, as well as those who lived there, had different agendas and perspectives. Some were spies and intelligence officers, other were exiles or refugee immigrants from Europe who managed at the last moment to escape Nazi persecution. Journalists and writers described life in the city at this time. All were probably conscious of the fact that when the war came to an end, local rivalry and mounting conflict would take the centre stage again. This was a time of a special, magical drawn-out moment that may shed light on an alternative, more peaceful, kind of Jerusalem that unfortunately was not to be. This volume seeks to find an alternative approach and to contribute to the development of insightful research into life in an unordinary city in an unordinary situation. It will be of value to those interested in military history and the history of the Middle East. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/military-history

Daphna Sharfman's book Jerusalem in the Second World War (Routledge, 2024) is the first to present the unique story of the city of Jerusalem during the events of the Second World War and how it played a unique role in both the military and civilian aspects of the war. Whilst Jerusalem is usually known for topics such as religion, archaeology, or the politics of the Israeli-Arab conflict, this volume provides an in-depth analysis of this exceptional and temporary situation in Jerusalem, offering a perspective that is different from the usual political-strategic-military analysis. Although battles were raging in the nearby countries of Syria and Lebanon, and the war in Egypt and the Western Desert, the people who came to Jerusalem, as well as those who lived there, had different agendas and perspectives. Some were spies and intelligence officers, other were exiles or refugee immigrants from Europe who managed at the last moment to escape Nazi persecution. Journalists and writers described life in the city at this time. All were probably conscious of the fact that when the war came to an end, local rivalry and mounting conflict would take the centre stage again. This was a time of a special, magical drawn-out moment that may shed light on an alternative, more peaceful, kind of Jerusalem that unfortunately was not to be. This volume seeks to find an alternative approach and to contribute to the development of insightful research into life in an unordinary city in an unordinary situation. It will be of value to those interested in military history and the history of the Middle East. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/jewish-studies

Daphna Sharfman's book Jerusalem in the Second World War (Routledge, 2024) is the first to present the unique story of the city of Jerusalem during the events of the Second World War and how it played a unique role in both the military and civilian aspects of the war. Whilst Jerusalem is usually known for topics such as religion, archaeology, or the politics of the Israeli-Arab conflict, this volume provides an in-depth analysis of this exceptional and temporary situation in Jerusalem, offering a perspective that is different from the usual political-strategic-military analysis. Although battles were raging in the nearby countries of Syria and Lebanon, and the war in Egypt and the Western Desert, the people who came to Jerusalem, as well as those who lived there, had different agendas and perspectives. Some were spies and intelligence officers, other were exiles or refugee immigrants from Europe who managed at the last moment to escape Nazi persecution. Journalists and writers described life in the city at this time. All were probably conscious of the fact that when the war came to an end, local rivalry and mounting conflict would take the centre stage again. This was a time of a special, magical drawn-out moment that may shed light on an alternative, more peaceful, kind of Jerusalem that unfortunately was not to be. This volume seeks to find an alternative approach and to contribute to the development of insightful research into life in an unordinary city in an unordinary situation. It will be of value to those interested in military history and the history of the Middle East. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/middle-eastern-studies

Key news articles for today*The government is working to clone the expat car import initiative for real estate purchases. The initiative could see the government refund 80% of the property price to the buyers in EGP over an 8-year period. This is less than the 100%-over-10-years initially proposed.The expat car-for-FX initiative is expected to get orders with a total of USD2 bn from its first two phases, Finance Minister said.Egypt is considering issuing Bonds denominated in Arab currencies, including AED, as well as the Indian rupee, as part of its plan to diversify funding sources.Egypt's LNG exports fell 51.8% y-o-y in 2023, dropping to 3.52 mn tons, according to OAPEC.MPs gave their final approval on a EUR56 mn grant from the French Development Agency to help us expand the storage capacity of our wheat silos.Chile's Enap Sipetrol plans to invest USD70 mn this year to drill four development wells and three exploratory wells in its East Ras Qattara concession, located in the Western Desert.MASR (FV: EGP5.24, OW) achieved stellar 4Q23 sales of EGP20.1 billion, up 342.6% y/y and 110.2% q/q, bringing FY23 sales to EGP35.0 billion, up 211.1% y/y.ALCN released 2Q23/24 indicators. Bottom-line grew by 9.6% YoY and 26.5% QoQ to record EGP1.2 billion in 2Q23/24. Revenues came in at EGP2.4 billion in 2Q23/24 (+21.1% YoY, 25.2% QoQ), supported by an increase in number of containers handled by 17.5% YoY and 21.3% QoQ. ALCN is currently trading at 23/24f P/E of 22.1x.Consumer Protection Agency requested from tobacco producers a list of data containing the names of the main wholesalers and distributors as an initial step to end the cigarettes crisis which resurfaced again after a steady period.Maridive and Oil Service's 49%-owned affiliate Al-Mayez Oil and Gas Services has been awarded a three-year oil exploration contract worth EUR29.72 million for the Libyan Mellitah Oil and Gas Company.CANA's (FV: EGP17.30, OW) record date for the 1:11 bonus shares is in February 13,  and the distribution date is February 14. China's Shengli (Fujian) Investment and Development Company will be in charge of managing and operating state-run Delta Steel's billet factories, under an agreement signed yesterday with the Metallurgical Industries Holding Company.

Fri, 01 Dec 2023 13:30:00 GMT http://relay.fm/pictorial/82 http://relay.fm/pictorial/82 Aboriginal Art (part 1) 82 Betty Chen and Quinn Rose Betty walks Quinn through highlights from the history of Aboriginal Australian art, including the longest continual art practice in the world. Betty walks Quinn through highlights from the history of Aboriginal Australian art, including the longest continual art practice in the world. clean 2287 Betty walks Quinn through highlights from the history of Aboriginal Australian art, including the longest continual art practice in the world. Links and Show Notes: Support Pictorial with a Relay FM Membership Finest Aboriginal Art Online by Leading Indigenous Artists Megafauna Ships Milky Way and the Seven Sisters Cross Hatching The Wandjina spirit Bark paintings commission Bark Petition of 1963 Ngurrara canvas Ngurrara canvas - in progress Artists creating a ground painting, 2002 The birth of the Western Desert ar

This episode is a rerelease of our interview with Tim 'Robbo' Robertson. 'Robbo' was tragically killed in an aircraft accident in Queensland. Forever the professional. Forever the character. Forever the Chronic Overachiever. Forever in our memories. Vale Robbo. To where the Wandering Warriors roam.   ***** Tim Robertson is an ex F18 fighter pilot who got bored of that and then successfully completed the Australian Special Air Service (SAS) Selection course! Robbo then saw operational service in Afghanistan and the Western Desert of Iraq, before leaving the military to: Consult to the United Nations || Advise an oil company in Geneva || Raise a nationally sensitive aviation capability || Start his own aviation company || And return to flying fast jets. He is current on around 40 different fixed and rotary winged aircraft and a highly talented musician. But Robbo talks about defining your happiness, the importance of hard work and overcoming adversity.... 

This second conversation explored arriving on 'country', being growled at, and listening practices. (And this time, apologies for Dave's big sneezes). The yarn moves from listening as a practice to a set of practices. A 9-fold framework of listening is explored among others. Listening as a set of practices: Goddard,C. 1996. Pitjantjatjara/Yankunytjatjara to English Dictionary [Revised 2nd edition]. Alice Springs: Institute for Aboriginal Development. 306pp. Ellis, Elizabeth Marrkilyi ; Green, Jennifer ; Kral, Inge (2019): In the Time of Their Lives. Wangka kutjupa-kutjuparringu: How talk has changed in the Western Desert. The Australian National University Data Commons.dataset. 10.25911/5dcb4ddd89c0f

This episode of Nursing Australia presents:  The latest Nursing Australia News (02:36) Pharmacists prescribing scope extended, Ballooning demand for Ozempic bites again, and CPR gender bias revealed. 1. Purple House: Sarah's Story (05:25) Meet Sarah Brown, CEO of Purple House. Before the Purple House was established Pintupi people from the Western Desert of Central Australia were forced to leave their country and families to seek treatment for end-stage renal failure in Alice Springs or Darwin. Far from home, they suffered great loneliness and hardship, and weren't around to pass on cultural knowledge in their communities.  Discover Purple House  #yes23 2. Navigating Medical Abortions (20:40) In 1996, the Australian government stifled access to RU-486. Despite some eventual revisions, barriers to access still remained, until today. The space around abortion care in Australia continues to evolve. So, what is the latest?  The Australian Contraception and Abortion Primary Care Practitioner Support Network (AusCAPPs) is an online community of practice interested in increasing women's access to long-acting reversible contraceptives (LARC) and medical abortion. GPs, practice nurses and pharmacists are invited to join. There is no cost to do so.  3. Early Detection & Management of CKD (34:38) Early detection and management of chronic kidney disease (CKD), so, how can this preserve vital renal function? What can health professionals and patients do to prevent this silent killer? Access Chronic Disease Management Tools here Kidney Health Australia   Refer your workplace for an APNA Corporate Membership   Subscribe to The Connect (our weekly newsletter)  APNA Online Learning Hub   Astra Zeneca's Chronic Disease Management Tools Hosted by: Matthew St Ledger & Mitch Wall Produced by: Leith Alexander & Matthew St Ledger

The Federal Reserve held interest rates steady in a targeted range between 5.25%-5.5%, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year.Cabinet gave the go-ahead to the emergency social support measures aimed at alleviating the impact of the economic crisis on vulnerable households.Ministers approved handing the Egyptian Natural Gas Company (GASCO) a golden license for its USD380 mn project to expand its gas complex in Alexandria.Egypt's Main Development Company for the SCZone signed a contract with Rolling Plus for chemical industries to build a tire manufacturing plant with EUR1 billion (USD1.07 billion) investments in Ain Sokhna. Ministers approved halting onion exports until the end of the year in a bid to curb soaring prices.Egypt is considering importing nearly 500k ton of wheat from France and Bulgaria. This came after Russia halted supplying wheat, objecting to the pricing of a mega-deal, sources added, noting that the authorities in Moscow seek to impose an unofficial minimum price on grain deals.SKPC held a BoD meeting yesterday to discuss postponing the acquisition of Ethydco until finalizing the study of acquiring a share of Ethydco's capital by a strategic investor through a partial exit of some of the company's existing shareholders.The cabinet gave the green light to the oil minister to contract with Russian oil company Lukoil to comb areas in the Western Desert for oil and gas.Kuwait Foreign Petroleum Exploration Company (Kufpec) will acquire a 40% stake in Shell's North East El Amriya concession area in the Mediterranean Sea.The FRA has approved a request by BINV to extend the deadline for submitting its MTO to acquire up to 90% of OFH. The regulator has extended the deadline by 60 working days, giving it until the middle of December to file the MTO.The Egyptian exchange submitted several amendments to the FRA to develop the brokerage firms' membership rules in the stock exchange. The amendments mainly prohibit brokerage firms from purchasing securities on margin financed by a custodian and includes updating the customers' data every 5 years rather than every 2 years or whenever a significant change take place.The monorail train is expected to enter the trial operation phase next November while official inauguration for passengers is expected to take place in March/April 2024. The Institute for Transportation and Development Policy has signed a consultancy agreement with the New Urban Communities Authority to advise on implementing a bus rapid transit (BRT) system between Sixth of October City and parts of Giza governorate. IFC is considering extending USD125 mn loan to Egypt to fund the construction of Damietta Port's second container terminal. 

This week Jonny & Phil discuss playing Free French in Bolt Action using the rules found in the Western Desert and Battle of the Bulge books.  You can now support us on Patreon: https://www.patreon.com/TabletopTommies Or if you fancy creating your own French army, check out the ranges at Firestorm Games and Wayland Games: not only will you get great discounts, you'll also help us continue to create great content for you every week! https://www.firestormgames.co.uk/wargames-miniatures/bolt-action/?aff=64a025ee621f1 https://affiliates.waylandgames.co.uk/1240.html You can also find the link to buy a ticket for the English Open or support the podcast by buying some merch here: https://tabletoptommies.com/

Dr. Khalid Elsaid visits with us once again from Cairo, sharing ancient and modern Egyptian beliefs: We discuss: Ancient Egyptian codes for moral and human rights Magic in Ancient Egypt -- spells, ceremonies and rituals Religions in Egypt -- Judaism, Christianity, Muslim, and ancient Egyptian The role of Eternity and the core beliefs behind their miracles Dr Khalid has a Ph.D. in Egyptology In the final part of the episode he shares many images of the incredible tours he gives in Egypt, including photos from Aswan, Sharm Elshiekh, Luxor, the Western Desert, Cairo, Siwa Oasis and the Nile cruise. To Contact Dr. Khalid: Email: kh_n_elhennawy@hotmail.com https://www.facebook.com/solomannnn?mibextid=ZbWKwl To Book a tour with Dr. Khalid: https://drive.google.com/file/d/1svzL15SDmTa3VxVPwujj4dg4EOQEB8HN VISIT OUR WEBSITE: http://www.asmallmediumatlarge.co (all our shows are listed here) ASmallMediumAtLargePodcast@gmail.com Show Produced by Green Valley Production Studio Music by DJ Booda: http://www.djbooda.com

Prepare yourself for a fascinating journey into the heart of Australia with the iconic band, Midnight Oil as we dissect their seminal album, Diesel and Dust. Immerse yourself in the band's genre-spanning sounds, and discover how their music became a powerful voice for Aboriginal communities. We kick off our discussion with the band's formation in 1976, their unique sound, and their impactful Blackfella/Whitefella tour in the outback. We also discuss Peter Garrett, the charismatic frontman, and his essential role in the band's success.Midnight Oil's Diesel and Dust album is more than just music; it's a powerful commentary on indigenous issues and a call for social justice. We dissect the band's trip into the Western Desert region, their plan to make two of their songs hits and the rest free game, and the relevance of the album's cover. The band's experimentation with unique instruments and the significance of their lyrics, which boldly tackle themes of nuclear war and colonialism, are also delved into. Lastly, we count down our favorite songs from the Diesel and Dust album and discuss their cultural and political significance. We also listen to an example of Midnight Oil's sound, appreciate their experimentation with a variety of instruments, and introduce you to bands heavily influenced by Midnight Oil. Join us for an insightful discussion about music, culture, and Australia. Get ready to experience the power of music and its ability to incite change.Support the show

Prepare yourself for a fascinating journey into the heart of Australia with the iconic band, Midnight Oil as we dissect their seminal album, Diesel and Dust. Immerse yourself in the band's genre-spanning sounds, and discover how their music became a powerful voice for Aboriginal communities. We kick off our discussion with the band's formation in 1976, their unique sound, and their impactful Blackfella/Whitefella tour in the outback. We also discuss Peter Garrett, the charismatic frontman, and his essential role in the band's success.Midnight Oil's Diesel and Dust album is more than just music; it's a powerful commentary on indigenous issues and a call for social justice. We dissect the band's trip into the Western Desert region, their plan to make two of their songs hits and the rest free game, and the relevance of the album's cover. The band's experimentation with unique instruments and the significance of their lyrics, which boldly tackle themes of nuclear war and colonialism, are also delved into. Lastly, we count down our favorite songs from the Diesel and Dust album and discuss their cultural and political significance. We also listen to an example of Midnight Oil's sound, appreciate their experimentation with a variety of instruments, and introduce you to bands heavily influenced by Midnight Oil. Join us for an insightful discussion about music, culture, and Australia. Get ready to experience the power of music and its ability to incite change.Support the show

NI Capital is preparing to sell stakes in seven state-owned companies as part of the government's privatization program, two of which are expected to be complete by the end of the fiscal year, or June 2023.  The Ministry of Finance started accepting the paperwork for reimbursing exporters for the sixth phase of the export rebates program (EGP10 billion in total). Cash reimbursements will be made in July or August.   The Minister of International Cooperation signed letters with the Italian Ambassador to Cairo to extend the agreement for the third phase of the development debt swap program until December 2024. Egypt signed a memorandum of understanding with the Norwegian company “Scatec” to start feasibility studies for the electricity interconnection project for the purpose of exporting 3GW of renewable energy to Europe via Italy.  Apache wants to obtain new concessions in the Western Desert to drill more wells. The Egyptian Stock Exchange applied for FRA's initial approval to establish a derivatives settlement company.EKHO released 1Q23 net profit of USD60 million, -16% YoY. Consolidated revenues declined -23% YoY to USD225 million, pressured by Urea prices, and the lag in the rise of prices within NatEnergy, despite the rise in Sprea revenues. EKHO is currently trading at 2023f PE of 6.0x and EV/EBITDA of 3.3x.MOIL released FY2022 top line registered USD102 million, - 12% YoY, and a net loss of USD104 million compared to USD77 million losses in 2021. ORWE (FV: EGP18.50, OW) released 1Q23 attributable net profit for the quarter of EGP411 mn (+73.8% YoY). The rise came backed mainly by the China divestment recording EGP277 mn. Margins are supported by the mix of rising ASP and declining commodities prices. After revisiting our FX rates assumptions and commodities expectations, we upgrade our FV to EGP18.50/share. ORWE is currently trading at a P/E of 6.0x and an EV/EBITDA of 5.3x.Some commercial sectors launched calls to boycott securing foreign currency from the parallel market, led by car dealers, in order to control the overshooting witnessed in the rate. The proposal is to reduce importing for 1-3 months.  There are market expectations of a rise in poultry prices in light of the continued decline in daily production and the industry losing more than 80% of production capacity. We raised our ORHD FV to EGP20.38/share mainly on the back of incorporating the current EGP/USD FX rate of 30.88 in our valuation of residual land in El Gouna which is based on a price of USD23/sqm, as well as the latest higher net debt position. OCDI (FV: EGP23.30, OW) made the down payment to acquire a 180 feddan land plot directly south of its North Coast project, Caesar, and is planning to invest over EGP10.0 billion in the development of the project over the next four years.MNHD (FV: EGP3.16, EW) declared cash dividends of EGP0.15/share (DY of 4.6%). AMER is planning to issue sukuk worth EGP1.5-2.0 billion within the next two months.SAUD 1Q23 net profit recorded EGP474 million (+29% y/y) on the back of 1) strong top-line growth, and 2) strong non-funded income growth. SAUD is currently trading at P/B23 of 0.8x and P/E23 of 3.8x, with ROAE of 21%. We upgraded FV to EGP15.00. HRHO called an extraordinary general meeting on May 24 to discuss proposals to change its name from EFG Hermes Holding to EFG Holding and raise its issued and paid-in capital by 25% to EGP 7.3 bn, through 1 bonus shares for every 4 shares held.FRA raised the one-ticket funding limit for microfinance companies by 10% to EGP220,000. InterContinental Hotels Group is opening in Arkan Palm in West Cairo the 140-room Voco West Cairo 205 Suites in June 2026 and the 250-room InterContinental West Cairo 205 in January 2028.   

www.counterpartsshow.com The PYRAMIDS!! Last week we covered UFOs and resolved the mysteries with our single show! You're welcome! This week we will solve the mysteries of the Pyramids of Giza and maybe a few others from around the world. Join us to get real answers! The Giza Pyramid complex (also called the Giza necropolis) in Egypt is home to the Great Pyramid, the Pyramid of Khafre, and the Pyramid of Menkaure, along with their associated pyramid complexes and the Great Sphinx. All were built during the Fourth Dynasty of the Old Kingdom of ancient Egypt, between 2600 and 2500 BC. The site also includes several temples and cemeteries and the remains of a workers' village.The site is at the edges of the Western Desert, approximately 9 kilometres (5.6 mi) west of the Nile River in the city of Giza, and about 13 kilometres (8 mi) southwest of the city centre of Cairo. It forms the northernmost part of the 16,000-hectare (40,000-acre) Pyramid Fields of the Memphis and its Necropolis UNESCO World Heritage Site, inscribed in 1979.[1] The pyramid fields include the Abu Sir, Saqarra and Dahshur pyramid complexes, that were all built in the vicinity of Egypt's ancient capital of Memphis.The Great Pyramid and the Pyramid of Khafre are the largest pyramids built in ancient Egypt, and they have historically been common as emblems of Ancient Egypt in the Western imagination. They were popularised in Hellenistic times, when the Great Pyramid was listed by Antipater of Sidon as one of the Seven Wonders of the World. It is by far the oldest of the Ancient Wonders and the only one still in existence.

This week on the show, we go wild for bush tomatoes! I speak with an incredible crew of botanists and an anthropologist who share their work in studying a sweet relative of the tomato that grows in the Western Desert of Australia in lands managed by the Martu People with controlled burns. We cover topics of flavor, population genetics, and tales from the field! You can learn more about this project in a new film featured on the “Plants are cool, too!” YouTube Channel.  #tomato #solanum #Australia #explore #WildFoods

Between the 1920s and 1960s many Aboriginal people from Australia's great Western Desert and Kimberley regions were removed from their country and forced into hard labour on livestock stations. Despite this, the Traditional Peoples have maintained strong unbroken connections to their country. Now, Bangarra Dance Theatre's new work Sandsong is bringing their stories and songs to Aotearoa.

Egypt aims to make its first sovereign sukuk sale as soon as next week. The issuance could be worth up to USD1.5 billion.Demand for USD is unlikely to ease up until Ramadan as traders finish stocking imported essentials. Pressure will also arise in mid-April when dividend repatriation season begins.Bloomberg reported that 12-month non-deliverable forwards eased 1.2% yesterday to 36.025 against the USD.Unemployment dipped to 7.2% in 4Q22, down 0.2 percentage points from the July-September quarter.Representatives of a number of Turkish companies met with Prime Minister Madbouly yesterday, where they discussed plans to invest a combined USD500 million to expand Egypt operations.EAST 2Q22/23 net profit reached EGP2,025 mn (+53.1% YoY, +44.1% QoQ).Poultry producers are being added to the list of 19 industries getting a three-year holiday from real estate taxes until the end of 2024.Chipsy Food Industries launched a new USD20 million production line inside its factory in Sixth of October.CNFN 4Q22 net profit increased by 38% y/y to EGP205 mn, bringing net profit up 21% y/y to EGP609 mn in 2022.Adnoc Distribution has completed its acquisition of a 50% stake in fuel retailer TotalEnergies Egypt.Egypt will boost its LNG exports to Europe in the long term. Egypt is aiming to increase its LNG exports by around 40% starting 2025, the majority of which will be earmarked to the European market. The Egyptian General Petroleum Corporation signed a concession agreement with INA and Energean, allowing the two companies to begin exploratory drilling at their 50-50 East Bir El Nus concession in the Western Desert.Global oil demand is set to increase by 2 million barrels per day this year, pushed up by growth in Chinese consumption.The government yesterday launched three key bodies that will work to implement its national automotive strategy (Automotive Industry Development Program).Authorities also signed framework agreements with local and global automakers (Stellantis, Nissan, and Al Mansour Automotive) on localizing their assembly operations.El Sewedy Data Centers, a subsidiary of El Sewedy Capital, signed an MoU this week to build three data centers in Egypt.Sedico Pharmaceutical started the trial operation of the first factory to produce oncology drugs in Egypt, at an investment cost of around EGP1 billion.

Egypt's external debt dropped by 0.5% q-o-q to just under USD 155.0 bn in 1Q FY 2022-2023 (from July-September 2022).. The figure is up some 12.8% y-o-y from 1Q FY 2021-2022. The government is considering launching a new export subsidy program at the start of the upcoming fiscal year. The state is also looking into adding new sectors to the subsidy program.The Suez Canal Authority will raise fees for oil ships transiting the waterway from the beginning of April. Tankers carrying crude oil and petroleum products will pay a 25% surcharge as of 1 April, from 5% currently. While their empty counterparts will pay 15%. The surcharges are “temporary” and revised or scrapped based on global shipping conditions.SCZone Chairman is in Tokyo to drum up investment in the zone from Japanese investors. Water treatment, desalination plants, and green fuel production were the focus of some of the talks. SCZone officials met with representatives from Malaysian palm oil giant Sime Darby in Cairo to discuss efforts to localize the palm oil industry.The World Bank could finalize its development finance program with Egypt next month. which will likely extend for five years, on 21 March. PHAR released initial 2022 topline figures, with revenues approaching EGP4.0 billion, in line with our estimates of EGP3.95 billion.Gulf investors showed interest in acquiring a stake in SKPC after the latter finalizes its acquisition on Ethydco.TAQA Arabia expects the company's IPO to take place during 2023. He added that TAQA's investments are expected to reach USD32 billion during the period from 2023 till 2027.Egypt signed five agreements with national and international companies to search for oil and gas and produce them in four regions in the Western Desert and North Sinai offshore in the Mediterranean.Energean plans to invest USD350 million in its 100% owned Abu Qir concession this year. Oil Minister announced targeting producing 600k bbl/day of crude oil and 6.5 billion cubic feet of natural gas per day during 2023. He expects Narges reserves to reach 2-2.5 trillion cubic feet. He added that Egypt's LNG did not yet reach its maximum production capacity (21 billion cubic feet per day) and that establishing a third liquefaction station is still under study. The government's expat car-for-FX scheme will likely remain open until mid-May after the House Planning and Budget Committee yesterday gave preliminary approval to amendments granting it a two-month extension.Seif Thabet was reinstated as JUFO's CEO, vice-chairman, and board member representing Pharon Investment Limited, which owns a 52% stake in JUFO. While Mr Niels Thomsen (previous CEO) was appointed as managing director.Riyad Bank and Al Rajhi Bank are looking to either fully acquire or buy a stake into state-owned United Bank. The banks would be looking to come on board as strategic investors, according to El Fiqi, who didn't disclose how much of United Bank is up for sale. EFG Hermes' second-largest shareholder, Ripplewood, has sold two thirds of its stake in a series of block transactions yesterday. The firm sold almost 92 mn shares at an average price of EGP 19.32 per share. Ripplewood's holdings decreased from 11.7% to 3.9%. Abu Dhabi-based investment firm Chimera purchased a 2.62% stake in EFG Hermes. JS Holding Ltd purchased a 5.25% stake.SWDY signed an MoU with Emirati firm Gulf Data Hub to invest USD2.1 billion to build three data center complexes in Egypt which together would form the African continent'sMinister of Communication and Information Technology is concluding a detailed plan to start implementing the 5G technology.ORHD (FV: EGP15.32, OW) signed a master agreement with the Egyptian authorities that includes many decisions you will find them in details in our "Pre Trading Thoughts" report.

This episode is also available as a blog post: https://thecitylife.org/2022/09/12/selections-from-australias-western-desert-from-the-collection-of-steve-martin-anne-stringfield-now-on-view-at-the-national-arts-club/ --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/citylifeorg/message Support this podcast: https://anchor.fm/citylifeorg/support

Plus "It's just really important to have them back in this landscape," golden bandicoots reintroduced to Sturt National Park

In 1916 the Imperial Camel fought the Ottoman backed revolt by the Senussi in the Western Desert of Egypt. Oliver talks about training, patrols, deaths and near deaths from lack of water, including the ultimately pointless act of self-sacrifice by a British Pilot in the desert. We meet their 'hooshta' and hear how the Aussies hated these animals at first.

Goblin Sunset Mystic Tales: Season 1 is a 20 episode audio anthology, with amazing original content written by Michael Ignacio Jr. This audio anthology has an amazing cast, great music, and sfx. Many of the ‘shorts' are connected to other Mysticborn Productions intellectual properties, while others are original and standalone.    Music and Sound Effects obtained through a subscription through Storyblocks.com. We are allowed to use these stock music and sound effects commercially.    All of the characters in Mystic Tales: Season 1 are fictional and original, and any likeness or similarity to anyone living, dead, or fictional is purely coincidence.    Written and produced by Michael Ignacio Jr.   Artwork done by JdSarte   If you would like to become a Patron on Patreon and support our company's growth, please follow the following link:   https://www.patreon.com/user?u=16387335    Cast    Penelopee Popp - Kelsey Jaffer Buster- Morris Seng Jordy - Nate Barham  Mr. Kitty- Walter Thornburgh  Edna - Mallory Echelmeyer  Narrator - Ray O'Hare   Music  Fairy Tale Female Vocal by Psystein Cowboy in the Western Desert by Voldymyr Piddubnyk Deadwood by Raighes Factory Devil Creek by Raighes Factory Quarantino West by Daniel Don't shoot the Piano player by Humans win  Nash Lesko by Yagull Music  Season of the Wizard by Scott Lee Cupp

On 28 June 1914 the assassination of Archduke Franz Ferdinand, the heir apparent to the Austrian Empire, at Sarajevo in Bosnia was the main cause of World War-1 (1914-18).  Tension between the major European power had, however, been growing for some time, fuelled mainly by Germany's ambition to be the major power in Europe and as a competitor to Britain in Commerce and trade. This had led to the formation of two power blocks in Europe, the Triple Alliance of Germany, Austria and Hungary; and the Triple Entente of England, French and Russia. Few would have imagined that the pistol shots in Sarajevo would lead to a brutal four year war and would draw in most of the world. Last of all did the Indian Army expect to be pulled out of fighting Pathans to fighting Germans and the Turks. The Indian Army, at the start of World War-II (1939-45), had a strength of 1,94,373 personnel; just a little more than at the start of World War-I.  In the Western Desert, in Eritrea and Italy, Indian Divisions engaged the Germans and Italians. The 4th, 5th and 8th Indian Divisions distinguished themselves in a series of hard-fought campaigns. A time came when the British 8th Army depended on the 4th Division to crack up Axis formations in their long and final retreat. “There are no winners in an war  and it only brings destruction .” Tune in to know bravery of Indian Army in World wars in this episode  Jai Hind  Comment what you thought about the episode. Subscribe to Rakshak now to receive updates about the latest episodes. New Episodes every Sunday fortnightly. A Small Note: The last year or more has been a tough one for all of us. And the second wave of COVID-19 has been much worse. To help those affected by the pandemic in India, the podcasting community has come together under the #PodForChange banner to raise funds through an exclusive NGO partner, Give India. Join Ep.Log and #PODFORCHANGE as we look to make a positive impact in the lives of those affected by COVID19. Please visit the link: tinyurl.com/PodForChangeIndia. Remember, someone really needs the help. You can follow us and leave us feedback on Facebook, Instagram, and Twitter @eplogmedia, For advertising/partnerships send you can send us an email at bonjour@eplog.media. If you like this show, please subscribe and leave us a review wherever you get your podcasts, so other people can find us. You can also find us on https://www.eplog.media   DISCLAIMER: The views expressed on all the shows produced and distributed by Ep.Log Media are personal to the host and the guest of the shows respectively and with no intention to harm the sentiments of any individual/organization. The said content is not obscene or blasphemous or defamatory of any event and/or person deceased or alive or in contempt of court or breach of contract or breach of privilege, or in violation of any provisions of the statute, nor hurt the sentiments of any religious groups/ person/government/non-government authorities and/or breach or be against any declared public policy of any nation or state. See omnystudio.com/listener for privacy information.

On the wind-battered sandy expanse of the planet Elthinica, the hunter becomes the huntee.   Starring:    TL Dawnstar Narrator, Karl Darkcruzer, Dank Starhole, Caiman SkullStein, The sarge, Gieff, James Tyzer, Intern Ricky, various.   Theodora C Sinclair Felicity Phobos   Ginger Johnson Olive Cabinet   Emma Smith Debra DwarfStar   Tess Sander Ship computer   Joey Rainford Also Ship Computer   Nick Harris Kult of the Cone presenter     Get in touch with TL using tldawnstar@gmail.com or @tl_dawnstar   Produced using sounds from the following Freesound users;   JarAxe, Stratocube, Spoonsandlessspoons, SoundFlakes, JakLocke, Almusic34, Duckduckpony, RTB45 Dheming InsepctorJ Motion_S ConorM94 Spoonbender CGffex Bewagne nemoDaedlus roosenstuik Nexotron Iwiploppnisse LilyMarie Erdie Jalastram CarlosCarty  Beerbelly38 Knova Kaniz AdamJ LittleRobotSoundFactory Nakhas Urupin Mattiagreyfox JoelAudio N_audioman CJDeets Dobroide Cetsoundcrew Huggy13ear Ijudman Timbre CubicApocalypse  ATBINFO Ryanconwy Hyrid_V WebbFilmsUK Thebigdawg22 _NOMINAL_ Malexmedia Cheddababy  Sergenious Klankbeeld  Pfranzen Cameronmusic AJ_heels  Nathan45100 Primeval_polypod Nisse Omar Alvarado Erdie Asoydan Jorickhoofd ReneGami13 Vlaxim Natemaler AdriedanPola Ramston BenKoning Bendoncan Speedenza Writeyournamehere Phlair Natty23 Benwagne MAJ061785 Kangaroovindaloo Cuauh89 mayatnicmaXx Unchaz humanoide9000 LincolnLog MATRIXXX_ Harrybates01 Tim.kahn Viznoman Alyx Anarchid Homjrande Wangzhuokun RICHERIandTV Bubaproducer AGC66 PaulOCone FenekStudio Farbin Aiwha Ch0cci HerbertBoland Ideacraft Belloq Lellomvbu01 Setuniman  AudioNauten  Mik300z Soundlover16 Magedu Andersmmg StudentTanita  GowlerMusic  Jalastram Haropyume Qubodup Nextmaking 3M4 13NHarri 140084 150128   Prelude and Action by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4236-prelude-and-action License: http://creativecommons.org/licenses/by/4.0/   Fanfare for Space by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3736-fanfare-for-space License: http://creativecommons.org/licenses/by/4.0/   Tempting Secrets by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/5005-tempting-secrets License: http://creativecommons.org/licenses/by/4.0/   Ritual by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4293-ritual License: http://creativecommons.org/licenses/by/4.0/   Round Drums by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4308-round-drums License: http://creativecommons.org/licenses/by/4.0/   Local Forecast by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3989-local-forecast License: http://creativecommons.org/licenses/by/4.0/   Chase Pulse Faster by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3487-chase-pulse-faster License: http://creativecommons.org/licenses/by/4.0/     Political Action Ad by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4227-political-action-ad License: http://creativecommons.org/licenses/by/4.0/   Anxiety by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3374-anxiety License: http://creativecommons.org/licenses/by/4.0/   The House of Leaves by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4496-the-house-of-leaves License: http://creativecommons.org/licenses/by/4.0/   Western Streets by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4617-western-streets License: http://creativecommons.org/licenses/by/4.0/   Long Note Two by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3994-long-note-two License: http://creativecommons.org/licenses/by/4.0/   The Complex by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4488-the-complex License: http://creativecommons.org/licenses/by/4.0/   Spy Glass by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4410-spy-glass License: http://creativecommons.org/licenses/by/4.0/   Volatile Reaction by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/5014-volatile-reaction License: http://creativecommons.org/licenses/by/4.0/   Unseen Horrors by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4569-unseen-horrors License: http://creativecommons.org/licenses/by/4.0/   Cool Vibes by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3553-cool-vibes License: http://creativecommons.org/licenses/by/4.0/   Road to Hell by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/4297-road-to-hell License: http://creativecommons.org/licenses/by/4.0/