{"id":550809,"date":"2022-04-28T13:34:00","date_gmt":"2022-04-28T13:34:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=550809"},"modified":"2025-12-15T23:09:38","modified_gmt":"2025-12-15T23:09:38","slug":"its-vacation-time-see-you-all-after-eid","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-vacation-time-see-you-all-after-eid\/","title":{"rendered":"It\u2019s vacation time. See you all after Eid"},"content":{"rendered":"<section id=\"550811\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"550811\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/this-evening-businesses-have-until-after-eid-to-submit-corporate-taxes-non-oil-exports-rose-by-20-y-o-y-in-1q2022-btc-becomes-official-currency-in-car\/\">\r\n                            THIS EVENING: Businesses have until after Eid to submit corporate taxes + Non-oil exports rose by 20% y-o-y in 1Q2022 + BTC becomes official currency in CAR                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/this-evening-businesses-have-until-after-eid-to-submit-corporate-taxes-non-oil-exports-rose-by-20-y-o-y-in-1q2022-btc-becomes-official-currency-in-car\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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<\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/this-evening-businesses-have-until-after-eid-to-submit-corporate-taxes-non-oil-exports-rose-by-20-y-o-y-in-1q2022-btc-becomes-official-currency-in-car\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550811\" class=\"content-area-description single-story post-550811 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-enterprisepm tag-eu tag-russia tag-saudi-arabia tag-turkey tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Well, friends, we\u2019ve made it through the last workday of Ramadan<\/strong> and we\u2019re being rewarded with what we think is a very well-deserved extended Eid break.<\/p>\n<p><strong>All of next week will be a bank holiday in observance of Eid El Fitr<\/strong>, with the country\u2019s banks closed from Sunday, 1 May through Thursday, 5 May. <strong>The EGX will also be closed for the full week<\/strong>, the bourse <a href=\"https:\/\/ent.news\/2022\/4\/EGX-Eid.png\">confirmed in a news bulletin<\/a> today.<\/p>\n<p><strong>The private sector won\u2019t be taking the entire week off for Eid, unlike the <\/strong><strong>public sector.<\/strong> Folks at private (non-bank) businesses will officially get <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/384416460395447\">Labor Day<\/a> (that\u2019s Sunday, 1 May) and <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/384423803728046\">the first two days of Eid<\/a> (Monday and Tuesday) as paid vacation days, the Manpower Ministry has said.<\/p>\n<p><strong>Enterprise will be bridging the week (along with, we assume, the vast majority of the<\/strong><strong> country).<\/strong> We\u2019ll be back in your inboxes with the first post-Ramadan edition of EnterpriseAM at the usual time on Sunday, 8 May.<\/p>\n<p><strong>UPDATE- Businesses now have until Sunday, 8 May to submit their corporate tax filings<\/strong>, after the <a href=\"https:\/\/www.facebook.com\/photo.php?fbid=300039678968643&set=a.112629961042950&type=3\">Egyptian Tax Authority pushed the deadline<\/a> to account for the weeklong Eid break. The previous deadline would have seen businesses file their returns by this coming Saturday, 30 April.<\/p>\n<p><strong>SO, WHEN DO WE EAT?<\/strong> You\u2019ll be breaking your fast at 6:30pm CLT this evening in the capital city, and fajr prayers are at 3:41am.<\/p>\n<hr class=\"grey-line\">\n<p><strong>SIGN OF THE TIMES- BTC is becoming an official currency in the Central African<\/strong><strong> Republic<\/strong>, making it the first country in Africa and the second in the world after El Salvador to do so, <a href=\"https:\/\/www.cnbc.com\/2022\/04\/28\/central-african-republic-adopts-bitcoin-as-legal-tender.html\">CNBC<\/a> reported. A bill legalizing BTC and other cryptocurrencies was adopted unanimously by the country\u2019s parliament last week. Obed Namsio, chief of staff of President Faustin-Archange Touadera, told <a href=\"https:\/\/www.reuters.com\/world\/africa\/central-african-republic-adopts-bitcoin-an-official-currency-2022-04-27\/\">Reuters<\/a> that the Touadera backs \u201csupports this bill because it will improve the conditions of Central African citizens.\u201d<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Non-oil exports rose by 20% y-o-y in 1Q2022, reaching USD 9.17 bn<\/strong>, according to a Trade and Industry Ministry <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/363756139129000?amp%3B__tn__=%2CO%2CP-R\">statement<\/a>. The sectors accounting for the biggest portions of export revenues: Printing and packaging at USD 312 mn (up 59% y-o-y), readymade garments at USD 625 mn (up 44% y-o-y), building materials at USD 1.9 bn (up 35% y-o-y), textiles at USD 279 mn (up 32% y-o-y), engineering and electronics at USD 977 mn (up 31% y-o-y), chemical products and fertilizers at USD 935 mn (up 23% y-o-y).<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Some of Europe\u2019s largest energy firms are acquiescing to Russia\u2019s<\/strong><strong> demands to make payments in RUB<\/strong>, as they are faced with the threat of a natural gas cutoff to the continent, <a href=\"https:\/\/www.ft.com\/content\/5c4ecf3f-67c9-4ae6-b1a2-d70f2ef7ac05\">the Financial Times<\/a> reported. Energy companies in Germany, Austria, Hungary and Slovakia are planning to open accounts at Gazprombank in Switzerland to meet the Russian requirement, according to people familiar with the matter. The crisis is already dividing the bloc, as several nations are pushing the European Commission to tighten the language of its guidance to eliminate ambiguities allowing for these loopholes to remain, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-27\/eu-nations-see-ambiguity-in-bloc-s-advice-on-russian-gas-demands?srnd=premium-middle-east\">Bloomberg<\/a> reports, citing people familiar with the matter.<\/p>\n<p><strong>GCC to the rescue:<\/strong> Rich-oil countries in the Middle East are trying to fill Europe\u2019s energy gap with more oil flows to the continent, with tanker data and fixture reports cited by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-28\/mideast-helps-europe-fill-diesel-void-as-russian-flows-slump?srnd=premium-middle-east\">Bloomberg<\/a> indicating that fuel flows from the GCC to Europe are set to grow almost 130% this month to 379k barrels per day. This would be the highest figure since October 2020, and would fill the gap of a166k barrel per day plunge in European imports from Russia.<\/p>\n<p><strong>Don\u2019t forget that Egypt could also have a role to play in plugging the gap:<\/strong> Egypt inked an agreement with Italian energy firm Eni <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3447a945-6e65-40df-be0e-8cb09f5d1167\">earlier this month<\/a> to boost Eni\u2019s gas production here in Egypt and increase our liquefied natural gas (LNG) exports to Europe. The agreement will boost Eni\u2019s LNG exports to Italy and the rest of Europe to 3 bn cubic meters this year. EU Executive Vice-President Frans Timmermans also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/022ca147-bb08-4bb6-ba62-361b7381da4c\">signaled last month<\/a> that the bloc is looking to up its imports of LNG from Egypt in the short term as the EU works to diversify its energy supplies.<\/p>\n<p><strong>IN OTHER INT\u2019L DIPLO NEWS-<\/strong><\/p>\n<p><strong>Turkish President Tayyip Erdogan will head to Saudi Arabia today<\/strong> in a two-day visit after receiving an invitation from Saudi King Salman, reports <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkeys-erdogan-travel-saudi-arabia-thursday-2022-04-28\/\">Reuters<\/a>. The two sides are set to discuss ways to increase economic and other cooperation. This is the latest sign that the two countries are repairing ties after Turkey <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9692a4c9-2616-43ff-a746-4868fc50bfd5\">dropped<\/a> the Jamal Khashoggi murder trial and transferred it to Saudi.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Support talks with IMF reach technical stage as lender pinpoints key reforms:<\/strong> Talks between Egypt and the IMF on a fresh support package have reached the \u201ctechnical stage,\u201d Jihad Azour, the multilateral lender\u2019s head of Middle East and Central Asia, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c74f67a6-db57-45a8-a2f0-15382c82dd13\">told reporters<\/a> at a press briefing yesterday.<\/li>\n<li><strong>Elsewedy Electric partners with China's Wolong Electric on electric motors + service center:<\/strong> The two manufacturers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed46dbb9-0f03-4b7a-ad29-68f61638bc84\">signed an agreement<\/a> to distribute electric motors, establish one of the region's biggest service centers, and explore ways to develop the local industry.<\/li>\n<li><strong>Scatec to issue green bonds worth USD 335 mn:<\/strong> Norway\u2019s Scatec <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85bc2129-c1ea-420b-9798-771ff78d5b5f\">will issue<\/a> USD 335 mn worth of green bonds to refinance its six solar plants in Benban. The European Bank for Reconstruction and Development (EBRD) is subscribing to almost a third of Scatec\u2019s green bond issuance, <a href=\"https:\/\/www.ebrd.com\/news\/2022\/ebrd-invests-in-scatec-green-bond-.html\">the lender confirmed today<\/a>. The EBRD will take up about USD 100 mn worth of the issuance, in addition to providing a USD 30 mn standby liquidity facility for other investors participating in the sale.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d34fde27-bb5d-4393-8c4d-b149d636663d\">fixed customs exchange rate<\/a><\/strong><strong> introduced last month following the EGP devaluation<\/strong><strong> will be lifted.<\/strong> Greenbacks used for importing essential items such as basic commodities and materials used for manufacturing are currently changing hands at a fixed rate of EGP 16, a move introduced to minimize exchange rate volatility in the wake of the devaluation.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>The warm weather continues this weekend, with daytime highs of 36-38\u00b0C and nighttime lows of 24\u00b0C on Friday and 16\u00b0C on Saturday, our favorite weather app tells us. Temperatures will start cooling on Wednesday and Thursday, falling to 31\u00b0C.<\/p>\n<p><strong>***<br \/> WE\u2019RE LOOKING FOR SMART, TALENTED PEOPLE to help us build some very cool new things.<\/strong> Today, we run two daily publications, five weekly industry verticals, and a monthly newsletter designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 come help us build new publications.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: <strong>To create value for our growing community of >199k readers by telling stories that matter.<\/strong><\/p>\n<p><strong>We\u2019re looking for editors who want to run publications and teams, editors to help reporters craft stories and talented reporters<\/strong>. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>Apply directly to <\/strong><strong><a href=\"mailto:jobs@enterprisemea.com\">jobs@enterprisemea.com<\/a><\/strong><strong> and mention Patrick in your subject line. <\/strong><\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/2022\/04\/28\/come-work-us-hiring-reporters-editors-new-existing-products\/\">Or hit this link for more information.<\/a><\/strong> It\u2019s worth it \u2014 trust us.<\/p>\n<p><strong>***<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/charging-nothing-for-public-transportation-does-not-exactly-help-the-environment-a-new-liver-disease-is-being-detected-in-children-you-can-now-diy-your-iphone-repairs\/\">\r\n                            Charging nothing for public transportation does not exactly help the environment + A new liver disease is being detected in children + You can now DIY your iPhone repairs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/charging-nothing-for-public-transportation-does-not-exactly-help-the-environment-a-new-liver-disease-is-being-detected-in-children-you-can-now-diy-your-iphone-repairs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/532.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550815\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/charging-nothing-for-public-transportation-does-not-exactly-help-the-environment-a-new-liver-disease-is-being-detected-in-children-you-can-now-diy-your-iphone-repairs\/532-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/532.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"532.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/532.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/532.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550814\" class=\"content-area-description single-story post-550814 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-apple tag-elon-musk tag-enterprisepm tag-for-your-commute tag-japan tag-liver-disease tag-self-service-repair tag-transport tag-twitter wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Making public transportation available without charge actually wouldn\u2019t do good<\/strong><strong> for the environment:<\/strong> By taking public transportation instead of driving a car alone, an individual can save <a href=\"https:\/\/www.kcata.org\/about_kcata\/entries\/environmental_benefits_of_public_transit\">up to 30%<\/a> of carbon dioxide emissions, according to the American Public Transport Association. In efforts to promote climate-friendly policies, several US transit agencies have been experimenting with dropping their bus fares, to boost ridership and decrease emissions \u2014 but the effective end result actually wasn\u2019t a net improvement, environmentally speaking, according to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-22\/the-green-case-against-free-public-transit?srnd=premium-middle-east\">Bloomberg<\/a> report citing transport program data. Not charging fares did end up increasing public transport users, but these included commuters who would usually walk or bike towards their destination, or not travel in the first place due to the cost \u2014 all of whom were originally net zero emitters but became contributors to the emissions from public transport. The experiments also failed to sustainably lock in car owners, who continued to rely on their own cars as convenience and comfort trumped a zero-cost ride.<\/p>\n<p><strong>A new mysterious liver disease affecting children is slowly making its way across<\/strong><strong> the globe: <\/strong>Japan is the latest country \u2014 the first in Asia \u2014 to detect a case of a liver disease that has so far been detected in over 170 children, most of whom are in the UK, <a href=\"https:\/\/www.cnbc.com\/2022\/04\/27\/symptoms-of-mysterious-liver-disease-affecting-children-covid-links.html\">CNBC<\/a> reports, citing the Japanese Health Ministry. The disease \u2014 which presents like hepatitis, or liver inflammation \u2014 was first detected in January, and has since found its way from the UK to the US, Israel, and now Asia, with health experts studying it for potential links to covid-19, according to the <a href=\"https:\/\/www.who.int\/emergencies\/disease-outbreak-news\/item\/2022-DON376\">World Health Organization<\/a>. Symptoms of the disease include nausea, diarrhea, jaundice and yellowing of the eyes and skin. Experts are exploring whether the disease could have appeared as a result of a lack of exposure to common viruses \u2014 known as adenoviruses \u2014 due to covid-related lockdowns and restrictions, which could have triggered a severe immune response in children. Of the 170 cases, one death has been reported, and 17 children have required liver transplants.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Apple has launched its <\/strong><strong><a href=\"https:\/\/selfservicerepair.com\/\">Self Service Repair<\/a><\/strong><strong> online store, allowing iPhone users to<\/strong><strong> repair their mobiles themselves<\/strong>, according to a <a href=\"https:\/\/www.apple.com\/newsroom\/2022\/04\/apples-self-service-repair-now-available\/\">press release<\/a>. The store will offer more than 200 parts and tools customers can use to repair the iPhone 12, iPhone 13 and third-generation iPhone SE including the screen, battery and camera. Customers can also rent tools in the case that they don\u2019t want to purchase them and get credit for returning a replaced part for recycling. This comes following US regulators putting pressure on Apple to give consumers more control over their products. The program is now live in the US, but will expand to Europe later this year and also add parts to fix certain Mac computer models.<\/p>\n<p><strong>Don\u2019t expect to save money by DIYing your phone<\/strong>, with iPhone screens going for as much as USD 300. For example, buying parts to fix an iPhone 12 Mini on your own would cost only USD 3 less than having your out-of-warranty device fixed at an Apple Store \u2014 plus you\u2019d still have to pay for tools, writes the <a href=\"https:\/\/www.wsj.com\/articles\/apple-opens-self-repair-store-with-300-iphone-screens-19-cent-screws-11651031828?mod=hp_lista_pos2\">Wall Street Journal<\/a>.<\/p>\n<p><strong>Twitter advertisers are worried the platform could turn into a hotbed of toxicity and<\/strong><strong> abuse <\/strong>following Elon Musk\u2019s strategy of liberalized speech, writes the <a href=\"https:\/\/www.ft.com\/content\/8b39d137-0d40-4bc6-bb53-e3c255eacdf7\">Financial Times<\/a>. Twitter wrote to its advertisers, promising them that their ads will not be placed alongside harmful or offensive content, according to an email seen by the FT. The move signals that Musk\u2019s takeover could hurt Twitter\u2019s advertising business, with many of the brands having appreciated that the platform had taken steps to tackle online hate and extremism in recent years. It is still to be seen how Musk plans to run the company from now on.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elon-musk\/\">Elon Musk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n    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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/gaslit-tells-the-story-of-the-watergate-scandal-maroon-5-at-the-pyramids-is-days-away-the-business-and-social-issues-that-will-shape-the-future\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/533.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550817\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/gaslit-tells-the-story-of-the-watergate-scandal-maroon-5-at-the-pyramids-is-days-away-the-business-and-social-issues-that-will-shape-the-future\/533-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/533.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"533.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/533.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/533.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550816\" class=\"content-area-description single-story post-550816 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-ears-to-the-ground tag-eat-this-tonight tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>It\u2019s been a while since we\u2019ve had a gripping show and <\/strong><strong><a href=\"https:\/\/www.starz.com\/us\/en\/series\/gaslit\/64077\">Gaslit<\/a><\/strong><strong> is living up to expectations<\/strong>, as it reframes the Watergate scandal. Based on the first season of the podcast <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/slow-burn\/id1315040130\">Slow Burn<\/a> by Leon Neyfakh, the political thriller stars A-listers Julia Roberts and Sean Penn. The limited series sheds light on former US President Richard Nixon\u2019s subordinates and the whistleblowers in the scandal that revealed multiple instances of power abuse from the administration and the cover-up that followed.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> \u26bd <strong>We might be stepping out (temporarily) for Eid break, but there\u2019s plenty of football to<\/strong><strong> keep you occupied over the next several days. <\/strong>We\u2019ve got a handful of games tonight, the most anticipated of which is Manchester United clashing with Chelsea in the Premier League at 8:45pm.<\/p>\n<p><strong>Also today, the UEFA Europa League semi-finals kick off at 9pm<\/strong>, with an all-German final on the cards as Rangers clash with RB Leipzig while West Ham plays against Eintracht Frankfurt.<\/p>\n<p><strong>It\u2019s also game night in Egypt<\/strong>, with Zamalek going against PortSaid\u2019s Al Masry at 9:30pm<\/p>\n<p><strong>TOMORROW-<\/strong><\/p>\n<p><strong>There will be more games on the home-front at 9:30pm<\/strong>, with Misr Lel Makasa v Future, Pharco v Smouha, and Enppi v Al Bank Al Ahli.<\/p>\n<p><strong>La Liga<\/strong> will See Sevilla v C\u00e1diz at 9pm.<\/p>\n<p><strong>ON SATURDAY- <\/strong><\/p>\n<p><strong>Far from being boring, Saturday\u2019s going to be a football-filled day<\/strong>, with six games in the Premier League, four in La Liga and Serie A, and three in the Egyptian Premier League.<\/p>\n<p><strong>In the Premier League:<\/strong> Newcastle United v Liverpool at 1:30pm; Aston Villa v Norwich City, Southampton v Crystal Palace, Watford v Burnley, and Wolverhampton v Brighton all at 4pm; and Leeds United v Manchester City at 6:40pm.<\/p>\n<p><strong>In La Liga:<\/strong> Deportivo Alav\u00e9s goes head to head against Villarreal at 2pm, with Real Madrid v Espanyol at 4:15pm, Valencia v Levante at 6:30 pm, and Athletic Club v Atletico Madrid at 9pm.<\/p>\n<p><strong>Serie A<\/strong> sees Cagliari v Hellas Verona and Napoli v Sassuolo at 3pm, Sampdoria v Genoa at 6pm, and Spezia v Lazio at 8:45 pm.<\/p>\n<p><strong>Moving to Egypt:<\/strong> We\u2019re up for three games at 9:30 pm: Alexandria\u2019s Ittihad v Ghazl Al Mahalla, Ceramica Cleopatra v Ahly, and Talea\u2019 El Geish v Ismailiy.<\/p>\n<p><strong>ON SUNDAY-<\/strong><\/p>\n<p><strong>The (probable) last day of Ramadan will see the following Premier League matches:<\/strong> Everton v Chelsea and Tottenham v Leicester City at 3pm, and West Ham v Arsenal at 5:30pm.<\/p>\n<p><strong>In La Liga:<\/strong> Elche v Osasuna at 2pm, Granada v Celta de Vigo at 4:15pm, Rayo Vallecano v Real Sociedad at 6:30pm, and Barcelona v Mallorca at 9pm.<\/p>\n<p><strong>Shifting to Serie A<\/strong>, Juventus will play against Venezia at 12:30pm, while Empoli will clash with Torino with AC Milan against Fiorentina in the afternoon at 3pm. Later during the day, Udinese will play against Inter Milan at 6pm, with Roma v Bologna at 8:45pm.<\/p>\n<p><strong>As it preps for Eid, Egypt will see Zamalek v Eastern Company<\/strong>, Al Masry v Al Moqawloon Al Arab and Gouna v Pyramids. All three games will kick off at 9:30pm.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>From Apple Strudel to laugen bread, this new German bakery will bring Berlin to you:<\/strong> <a href=\"https:\/\/instagram.com\/stadt.mitte?igshid=YmMyMTA2M2Y=\">Stadt Mille<\/a> has recently opened its doors in Cairo Festival City, offering some German favorites. Don\u2019t miss out on their laugens (which is a pretzel-like bread) that come in flavors such as cheese, bacon, sausage, and Hawaii. For more savory snacks, they also have croissants and pates. However, it\u2019s their sweet selection that really shines, with an apfelstrudel, apple danish, cherry or lemon puffs, lime cake, honey cake, or English cake. You can also get non-ethanolic beer on tap from their counter.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><strong>Dawar Arts is hosting <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/taba2-koshari-music-variete-ni\/1142894699858524\/\">Taba2 Koshari<\/a><\/strong><strong> \u2014 a music event that features a variety of different<\/strong><strong> sounds <\/strong>such as choir, Indian instruments, and classical Arab music. The event will kick off today at 8:30pm.<\/p>\n<p><strong>Saudi writer Amal El Harby is leading an <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/%D9%85%D8%B9-%D8%A7%D9%85%D9%84-%D9%84%D9%8A%D9%84%D8%A9-%D9%85%D8%B9-%D8%A7%D9%85%D9%84-%D8%A7%D9%84%D8%AD%D8%B1%D8%A8%D9%8A\/285513990431899\/\">intimate night of storytelling<\/a><\/strong><strong> and comedic reflections tomorrow <\/strong>where the writer retells her experiences as a woman in Saudi. You can get tickets to the event at <a href=\"https:\/\/www.ticketsmarche.com\/with-amal-a-night-with-amal-elharby_se_2347.html\">TicketsMarche<\/a>.<\/p>\n<p><strong>Attend a <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/drum-circle-at-gusour-%D8%AF%D8%A7%D9%8A%D8%B1%D8%A9-%D8%B7%D8%A8\/736198214453872\/\">drum circle<\/a><\/strong><strong> at Gusour Cultural Center tomorrow<\/strong> which promises to rid you of your negative energy. The drum circle will be led by Mostafa Bakkar at 8pm.<\/p>\n<p><strong>Al Qubba Palace is hosting <\/strong><strong><a href=\"https:\/\/www.ticketsmarche.com\/al-qubba-palace_se_2335.html\">fitar and sohour<\/a><\/strong><strong> for the final days of Ramadan in its Palace Tent. <\/strong>The palace was built during the reign of Khedive Ismail and took six years to be constructed due to the unique royal architecture.<\/p>\n<p><strong>The long-awaited Maroon 5 concert is taking place during Eid vacation on Tuesday, 3 May at the Pyramids of Giza. <\/strong>It\u2019s the band\u2019s first time in Egypt and tickets start at EGP 2.3k. You can still purchase them at <a href=\"https:\/\/www.ticketsmarche.com\/maroon-5-live-at-the-pyramids_se_2317.html\">TicketsMarche<\/a>. Frontman Adam Levine spoke up about the event on The Ellen Show (<a href=\"https:\/\/www.youtube.com\/watch?v=LrweEJbO_eM\">watch, runtime: 10:55<\/a>) and expressed his excitement for performing at such a unique venue. \u201cIt\u2019s not one of the things, I think, as a musician you think is feasible or possible. It just seems so, kind of, out of this world to be able to do it,\u201d Levine said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ears-to-the-ground\/\">ears to the ground<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eat-this-tonight\/\">Eat This Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550818\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"550818\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/\">\r\n                            Earnings watch: Abu Qir Fertilizers, Juhayna + Banque Misr purchases 42.8% of Banque du Caire + CI Capital to distribute dividends                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Earnings watch: Abu Qir Fertilizers, Juhayna + Banque Misr purchases 42.8% of Banque du Caire + CI Capital to distribute dividends&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/&title=Earnings watch: Abu Qir Fertilizers, Juhayna + Banque Misr purchases 42.8% of Banque du Caire + CI Capital to distribute dividends\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Earnings+watch%3A+Abu+Qir+Fertilizers%2C+Juhayna+%2B+Banque+Misr+purchases+42.8%25+of+Banque+du+Caire+%2B+CI+Capital+to+distribute+dividends+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F28%2Fearnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/earnings-watch-abu-qir-fertilizers-juhayna-banque-misr-purchases-42-8-of-banque-du-caire-ci-capital-to-distribute-dividends\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550818\" class=\"content-area-description single-story post-550818 post type-post status-publish format-standard hentry category-go-with-the-flow tag-abu-qir-fertilizers tag-earnings-watch tag-egx tag-enterprisepm tag-go-with-the-flow tag-juhayna wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EARNINGS WATCH-<\/strong><\/p>\n<p><strong>Abu Qir Fertilizers\u2019 bottom line rose 185% y-o-y in 9M 2021-2022 to EGP 6.96 bn<\/strong>, the company said in an <a href=\"https:\/\/ent.news\/2022\/4\/Abu-Qir-9M-earnings.pdf\">EGX disclosure (pdf)<\/a>. This comes on the back of a 91% y-o-y increase in revenues to EGP 12.04 bn.<\/p>\n<p><strong>Juhayna\u2019s bottom line rose 23% y-o-y in <\/strong><strong>2021<\/strong><strong> to EGP 526.39 mn<\/strong>, according to an <a href=\"https:\/\/ent.news\/2022\/4\/Juhayna-FY21-earnings-release.pdf\">earnings<\/a><a href=\"https:\/\/ent.news\/2022\/4\/Juhayna-FY21-earnings-release.pdf\">release (pdf)<\/a>. The juice and dairy company\u2019s revenues also rose during the fiscal year, increasing 17% y-o-y to EGP 8.81 bn.<\/p>\n<p><strong>MARKET NEWS-<\/strong><\/p>\n<p><strong>Banque Misr <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/4\/Screen-Shot-2022-04-28-at-1.42.32-PM.png\">has purchased<\/a><\/strong> <strong>1.125 bn shares \u2014 around 42.8% \u2014 in Banque du Caire in a<\/strong><strong> EGP 6.97 bn block transaction<\/strong> under a transfer of ownership agreement, a <a href=\"https:\/\/ent.news\/2022\/4\/Banque-du-Caire.pdf\">disclosure to the bourse (pdf)<\/a> showed. <a href=\"https:\/\/www.masrawy.com\/news\/news-banking\/details\/2022\/4\/28\/2216437\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-%D9%84%D9%85%D8%B5%D8%B1%D8%A7%D9%88%D9%8A-%D8%A5%D8%B9%D8%A7%D8%AF%D8%A9-%D9%87%D9%8A%D9%83%D9%84%D8%A9-%D9%85%D9%84%D9%83%D9%8A%D8%A9-%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D8%AA%D8%AD%D8%AA-%D8%A8%D9%86%D9%83-%D9%85%D8%B5%D8%B1\">Masrawy<\/a> cites three separate banking sources close to the state-owned banks as saying that the sale is part of an ownership restructuring plan, with no new share sales made to any third party. The restructuring will see the stake owned by Banque Misr\u2019s investment arm Misr Capital in Banque du Caire transferred directly to Banque Misr. Enterprise was unable to reach representatives from either of the two banks in time for dispatch.<\/p>\n<p><strong>CI Capital will distribute dividends on two dates this year<\/strong>, the company said in an <a href=\"https:\/\/ent.news\/2022\/4\/CI-Capital-2022-dividends.pdf\">EGX<\/a><a href=\"https:\/\/ent.news\/2022\/4\/CI-Capital-2022-dividends.pdf\">disclosure (pdf)<\/a> today. Shareholders will receive EGP 0.125 per share on each distribution date, with the first distribution date on 19 May and the second on 29 September.<\/p>\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 rose 3.1% at today\u2019s close<\/strong> on turnover of EGP 1.21 bn (27.4% above the 90-day average). Foreign investors were net sellers. The index is down 7.5% YTD.<\/p>\n<p><strong>In the green: <\/strong>GB Auto (+10.1%), Heliopolis Housing (+9.3%) and Madinet Nasr Housing (+9.1%).<\/p>\n<p><strong>In the red: <\/strong>Eastern Company (-3.6%), Rameda (-2.2%) and Housing and Development Bank (-0.1%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550819\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"550819\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/em-debt-is-under-pressure-but-after-headwinds-subside-latin-america-could-be-in-for-a-windfall\/\">\r\n                            EM debt is under pressure \u2014 but after headwinds subside, Latin America could be in for a windfall                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/em-debt-is-under-pressure-but-after-headwinds-subside-latin-america-could-be-in-for-a-windfall\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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US-based Franklin Templeton said it would cut its positions in high-yield debt, while Fidelity International is betting against EM currencies, as the threat of positive US real rates begins to boost the USD and triggers outflows from riskier EMs. Many emerging economies are already dealing with inflationary and budgetary pressures caused by rising food and energy prices on the back of the Russia-Ukraine war.<\/p>\n<p><strong>But is it an indicator of headwinds peaking?<\/strong> A small number of strategists believe that positive real rates could cause the Fed to dial back the hawkishness in a good move for EMs. \u201cI definitely think U.S. real yields crossing the zero-line is an important milestone on the path towards a peak in the monetary headwinds emerging-market investors are facing in 2022,\u201d said one strategist at Nordea Investment. \u201cPositive real rates would also bring us closer to peak Fed hawkishness, which is the ultimate requirement for risk appetite to stage a meaningful comeback.\u201d<\/p>\n<p><strong>Surging inflation has pushed many EM policy rates into negative territory:<\/strong> Some 35 of the 42 nations tracked by Bloomberg currently have negative real policy rates. This includes Egypt, where a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ed1c340-3127-46cd-ad85-578f9a72874f\">10.5% inflation rate in March<\/a> pushed Egypt\u2019s real rate into negative territory despite the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d34fde27-bb5d-4393-8c4d-b149d636663d\">100-bps rate hike<\/a> last month.<\/p>\n<p><strong>The good news? The Fed (probably) won\u2019t sanction an even faster tightening cycle next <\/strong><strong>month.<\/strong> Fed officials are yet to give public backing to Federal Reserve Bank of St. Louis President James Bullard\u2019s <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-18\/fed-s-bullard-says-75-basis-point-hike-could-be-option-if-needed?sref=mmeFTDW1\">suggestion<\/a> that a huge 75-bps hike might be needed to tame inflation when the central bank meets at the beginning of May. Federal Reserve Bank of Cleveland President Loretta Mester has <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-22\/mester-backs-methodical-rate-hikes-not-a-75-basis-point-move?sref=mmeFTDW1\">come out against the proposal<\/a>, while Fed Chair Jerome Powell hasn\u2019t commented on the matter.<\/p>\n<p><strong>When the dust starts to settle, Latin America could be the top choice for bond buyers: <\/strong>The fact that some Latin American central banks started monetary tightening long before Russia\u2019s invasion of Ukraine, as well as appreciating regional currencies, suggests that these countries might be the first to hit peak interest rates this cycle. That creates chances in short-term sovereign bonds as yield curves steepen, <a href=\"https:\/\/finance.yahoo.com\/news\/next-big-bet-emerging-markets-160000496.html\">Bloomberg<\/a> reports. Traders have their eye on Brazilian, Chilean, and Colombian debt in particular.<\/p>\n<p><strong>But predicting inflation is a loser\u2019s game:<\/strong> Rate hikes won\u2019t peak globally until inflation is brought under control \u2014 and as the aftermath of Russia\u2019s invasion of Ukraine has demonstrated, it\u2019s very difficult to predict the impact of global events on prices. \u201cThe margin of error is way too high to call for peak inflation,\u201d one EM debt-watcher told Bloomberg.<\/p>\n<p><strong>Here in Egypt we could still be in store for another rate hike <\/strong>in addition to the surprise 100 bps increase the Central Bank of Egypt (CBE) announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b55986a-5bf0-4548-a969-7607bcf4f50e\">last month<\/a>. Analysts say the CBE will be watching the Fed\u2019s May meeting and market developments closely for cues. Ratings agency Fitch sees Egypt making <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ebacaaf-4b38-4309-a61f-6d49a7cfa430\">a further 300 bps<\/a> in rate rises by FY 2023-2024.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550821\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/550821\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550821\" class=\"content-area-description single-story post-550821 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OUR CALENDAR NOW APPEARS in two sections: <\/strong><\/p>\n<ul>\n<li><strong>Events with specific dates or months <\/strong>are right here up top<\/li>\n<li><strong>Events happening in a quarter or other range of time <\/strong>with no specific date \/ month appear at the bottom of the calendar.<\/li>\n<\/ul>\n<p><strong>APRIL<\/strong><\/p>\n<p>30 April (Saturday): <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d34fde27-bb5d-4393-8c4d-b149d636663d\">Fixed customs exchange rate<\/a> lifted.<\/p>\n<p>30 April - 5 May (Saturday-Thursday): <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/383615447142215\">National holiday<\/a> in observance of Labor Day and Eid Al Fitr.<\/p>\n<p>Late April through 15 May: 1Q2022 earnings season<\/p>\n<p><strong>MAY<\/strong><\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>May: General Authority for Land and Dry Ports to issue the conditions booklet for the tender to establish and operate the Tenth of Ramadan dry port.<\/p>\n<p>1 May (Sunday): Labor Day.<\/p>\n<p>1 May (Sunday): Suez Canal Authority raises tolls for different vessels.<\/p>\n<p>2 May (Monday): <a href=\"https:\/\/www.facebook.com\/NRIAG2\/posts\/1661290627570693\">Eid Al Fitr<\/a>.<\/p>\n<p>3-4 May (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>4 May (Wednesday): 3 February (Thursday): Deadline to send in applications for Cultural Property Agreement Implementation projects to the <a href=\"https:\/\/eg.usembassy.gov\/wp-content\/uploads\/sites\/156\/CPAIG-2022-Announcment-RDL-edits.pdf\">US Embassy in Cairo<\/a>.<\/p>\n<p>8 May (Sunday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.<\/p>\n<p>10-12 May (Tuesday-Thursday): <a href=\"https:\/\/globalevents.ebrd.com\/event\/abbff80b-9203-4a59-b458-a0b0a3cc6977\/summary?RefId=Press%20Open%20Registration&rp=bb613e72-8b0f-4ba6-b6cc-787264ded1db\">EBRD Annual Meeting and Business Forum<\/a>, Marrakesh, Morocco.<\/p>\n<p>15 May (Sunday): Last day for EGX-listed companies to file 1Q2022 earnings<\/p>\n<p>19 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>19 May (Thursday): EFG Hermes\u2019 general shareholders\u2019 meeting to discuss, among several things, a capital increase of EGP 973 mn to finance the distribution of bonus shares to the company\u2019s minority shareholders.<\/p>\n<p>25 May (Wednesday): The <a href=\"https:\/\/bit.ly\/36oOWst\">deadline for<\/a> private companies to pre-register ahead of bidding for the second phase of the PPP national project to establish and operate 1k language schools.<\/p>\n<p>31 May (Tuesday): The <a href=\"https:\/\/itida.gov.eg\/English\/Programs\/Export-IT%20Rebate%20Program%202017\/Pages\/default.aspx\">application deadline<\/a> for ITIDA\u2019s annual Export IT program.<\/p>\n<p><strong>JUNE<\/strong><\/p>\n<p>5-7 June (Sunday-Tuesday): <a href=\"https:\/\/www.africahealthexcon.com\/\">Africa Health ExCon<\/a>, Al Manara International Conference Center, Egypt International Exhibitions Center, and the St. Regis Almasa Hotel, New Administrative Capital.<\/p>\n<p>9 June (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15-18 June (Wednesday-Saturday): <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>21-22 June (Tuesday-Wednesday): <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/298129062496947\">Aswan Forum for Sustainable Peace and Development<\/a>, Cairo.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>30 June (Thursday): Deadline for bids for National Democratic Party HQ redevelopment contract.<\/p>\n<p>June: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/390172846486475\">launch a unified ticketing system<\/a> for all means of transport at the Adly Mansour Interchange Station.<\/p>\n<p><strong>JULY<\/strong><\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>July: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>Early July: Polish President to visit Egypt.<\/p>\n<p>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>1 July (Friday): Official rollout of e-receipt system begins.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p><strong>AUGUST<\/strong><\/p>\n<p>August: Work to extend the capacity of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">Egypt-Sudan electricity interconnection<\/a> to 600 MW to be completed.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER<\/strong><\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>18 September (Sunday): Deadline for brokerage firms, asset managers and financial advisors <a href=\"https:\/\/alborsaanews.com\/2022\/04\/06\/1527896\">to register<\/a> with the Egyptian Securities Federation.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: World Bank and IMF annual meetings in Washington, DC<\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 October (Saturday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>27 October (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>November: Cairo Water Week 2022.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>4-6 November: The <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition kicks off at the Cairo International Exhibition and Convention Center.<\/p>\n<p>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/sdg.iisd.org\/events\/2021-un-climate-change-conference-unfccc-cop-27\/\">COP 27<\/a> in Sharm El Sheikh.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>14 March-30 June: The \u201cEscape to Egypt\u201d exhibition at the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TyfzyKQdaqZmXvT1e3FuyPe3vSpn55zshBzfPbVExM3BR7KTZ3Geb6QVSsHa2S5Nl\">Coptic Museum<\/a>, in celebration of its 112th anniversary.<\/p>\n<p>2Q2022: The Sovereign Fund of Egypt will invest in two companies in the financial inclusion and non-banking financial services sectors.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 2Q2022: Door for bidding for the contract to redevelop the site of the former National Democratic Party HQ to close.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. 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