{"id":551895,"date":"2022-07-28T13:35:16","date_gmt":"2022-07-28T13:35:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551895"},"modified":"2025-12-15T23:33:38","modified_gmt":"2025-12-15T23:33:38","slug":"the-recession-bells-are-ringing","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-recession-bells-are-ringing\/","title":{"rendered":"The recession bells are ringing"},"content":{"rendered":"<section id=\"551897\" 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=\"551897\">\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\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/\">\r\n                            THIS EVENING: Car sales drop again in June + US GDP contracts for a second consecutive quarter.                        <\/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\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/\" 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\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/')\">\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\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/\">\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=THIS EVENING: Car sales drop again in June + US GDP contracts for a second consecutive quarter.&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/\">\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\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/&title=THIS EVENING: Car sales drop again in June + US GDP contracts for a second consecutive quarter.\">\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=THIS+EVENING%3A+Car+sales+drop+again+in+June+%2B+US+GDP+contracts+for+a+second+consecutive+quarter.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F28%2Fthis-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter%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\/07\/28\/this-evening-car-sales-drop-again-in-june-us-gdp-contracts-for-a-second-consecutive-quarter\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551897\" class=\"content-area-description single-story post-551897 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-automotive tag-enterprisepm tag-us-gdp 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>Good afternoon, wonderful people.<\/strong> We\u2019re always giddy when we can say happy THURSDAY, but this week makes us feel like we\u2019ve earned it just a little bit more than usual.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The automotive market is still struggling:<\/strong> Passenger car sales fell for the fourth consecutive month in June, dropping 35.2% y-o-y to 19,054 units sold during the month, according to the latest figures from the Automotive Information Council (AMIC). The continued decline in sales comes as the automotive industry in Egypt has been facing headwinds including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">changing import rules<\/a> that led to car shipments being stuck at port.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Recession alarm bells ringing: The US economy contracted 0.9% in 2Q 2022<\/strong>, marking a slower contraction than the 1.6% recorded during the first quarter of the year, according to the US Bureau of Economic Analysis\u2019 <a href=\"https:\/\/www.bea.gov\/news\/2022\/gross-domestic-product-second-quarter-2022-advance-estimate\">quarterly report<\/a>. The slight q-o-q improvement \u201creflected an upturn in exports and a smaller decrease in federal government spending that were partly offset by larger declines in private inventory investment and state and local government spending,\u201d the report said. The figures \u2014 and whether two consecutive quarters of negative growth qualifies as a recession \u2014 are leading the conversation in the international business press this afternoon: <a href=\"https:\/\/www.wsj.com\/articles\/us-q2-gdp-growth-economy-11658981184?mod=e2tw\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-28\/us-economy-shrinks-for-a-second-quarter-raising-recession-odds?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/07\/28\/gdp-q2-.html\">CNBC<\/a> | <a href=\"https:\/\/www.reuters.com\/markets\/us\/us-economy-contracts-again-second-quarter-jobless-claims-fall-2022-07-28\/\">Reuters<\/a><a href=\"https:\/\/www.reuters.com\/markets\/us\/us-economy-contracts-again-second-quarter-jobless-claims-fall-2022-07-28\/\"><\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Egypt is working to resolve differences with the IMF in talks for a fresh assistance program<\/strong>, Finance Minister <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ff1336-a520-498c-aef3-1023c9fc2fd5\">Mohamed Maait said<\/a> in a round of interviews yesterday.<\/li>\n<li><strong>The government is still <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/356bf5ad-541f-41d3-a8de-71232ef2b9cb\">holding out hope<\/a><\/strong><strong> that it could sell stakes in as many as 10 companies before the end of the year<\/strong>, Maait also said, insisting that a state program to divest assets through IPOs and secondary sales of already-listed companies still has legs despite ongoing market turbulence.<\/li>\n<li><strong>It\u2019s official:<\/strong> CIRA\u2019s future flow securitization program has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/050674a7-23fa-4fa6-b397-6d54503705d5\">gotten the nod<\/a> from the Financial Regulatory Authority, which has given EFG Hermes the final go-ahead to take EGX-listed education provider CIRA\u2019s planned EGP 800 mn issuance to market.<\/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 government\u2019s public consultations on its state ownership policy continue on <\/strong><strong>Sunday<\/strong>, with a workshop for representatives from the printing and packaging sector. Every Sunday, Tuesday, and Thursday see workshops on how privatization plans will affect specific industries. You can find more details on the schedule of the meetings<a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\"><\/a><a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\">here<\/a>.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER-<\/strong> We\u2019re looking at quite a hot weekend with daytime highs of 40-41\u00b0C on Friday and Saturday, and nighttime lows of 24\u00b0C, our favorite weather app tells us.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-gdp\/\">US GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING 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=\"551898\" 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                            \"\r\n            id=\"551898\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/551898\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551898\" class=\"content-area-description single-story post-551898 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/palmhillsdevelopments.com\/OurDevelopments\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551899\" 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=\"551899\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/glaciers-in-the-alps-are-disappearing-at-record-speed-get-your-feet-on-the-ground-for-a-better-mood\/\">\r\n                            Glaciers in the Alps are disappearing at record speed + Get your feet on the ground for a better mood                        <\/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\/07\/28\/glaciers-in-the-alps-are-disappearing-at-record-speed-get-your-feet-on-the-ground-for-a-better-mood\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Alps saw two major heat waves this summer, with the elevation at which water froze measuring at 5.1k meters, compared with the normal summer level of approximately 3k meters to 3.5k meters. Mountain glaciers in the Alps remain the most susceptible to climate change due to their smaller size and little ice cover. Temperatures in the Alps are also rising at around 0.3\u00b0C per decade \u2014 nearly double the global average \u2014 therefore augmenting the risk of the glaciers disappearing altogether.<\/p>\n<p><strong>And if we continue with business as usual, the glaciers could lose over 80% of their<\/strong><strong> current mass due to climate change by 2100<\/strong>, according to a <a href=\"https:\/\/www.ipcc.ch\/srocc\/chapter\/chapter-2\/\">2019 report<\/a>by the UN Intergovernmental Panel on Climate Change. Recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d106110-95d8-44f2-a2da-c1b26f9cf25f\">heat waves<\/a> this year in several regions across the world are sparking worries that Alps glaciers may disappear sooner than predicted. \u201cWe are seeing model results expected a few decades in the future are happening now,\u201d Matthias Huss, who heads Glacier Monitoring Switzerland, said. \u201cI did not expect to see such an extreme year so early in the century.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>In case you needed more reasons to flee to Sahel this weekend (or any beach, anytime<\/strong><strong> you can):<\/strong> While the fact that spending time in nature is good for us is hardly new information, it turns out that kicking off your shoes and literally keeping your foot on the ground \u2014 also known as grounding \u2014 can boost your immunity, reduce stress, and help improve sleep, <a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC4378297\/\">research<\/a> has shown. Grounding is when we make direct contact with the earth for at least 30 minutes, according to Kayla Barnes, host of the podcast <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/brain-biohacking-with-kayla-barnes\/id1591130227\">Brain Biohacking.<\/a> This includes walking barefoot in the sand, grass, or dirt. The Earth\u2019s surface holds an abundant supply of mobile electrons, making most of the planet\u2019s surface<a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC3265077\/\">electrically conductive<\/a>. This electrical potential has been found to hold many health benefits for humans. Through grounding, people can absorb electrons from the earth and neutralize freeradicals (which can damage cells), providing an antioxidant effect, Barnes explains to <a href=\"https:\/\/www.vice.com\/en\/article\/5d33mx\/grounding-earthing-biohacking-alternative-health-wellness\">Vice<\/a>. Grounding may also improve biological rhythms by reducing nighttime cortisol levels, leading to better sleep, less inflammation, and an improved mood.<\/p>\n<p><strong>So-called \u201cblack swan funds\u201d are booming in popularity as markets sink: <\/strong>Black swan funds \u2014 designed for investors to make gains when markets tank \u2014 are gaining popularity as risk-management software booms and investors look for ways to cut risk and hedge against market turmoil, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-27\/market-crash-hedges-can-help-investors-survive-a-recession#xj4y7vzkg\">Bloomberg<\/a> reports. Black swan funds have gained about 11.6% this year, giving them a rare positive position in the current market downturn \u2014 but just enough to make up for their losses over the past year\u2019s losses during a bull market.<\/p>\n<p><strong>It\u2019s unlikely that we\u2019ll see a rerun of the 2020 black swan fund jackpot:<\/strong> Compared with the gains these funds made in the early days of the pandemic (which were around 24%), the rewards this time around have so far been negligible. This is because \u201cthe longer, the more protracted the drawdown, the less benefit you usually get from those strategies,\u201d one analyst explains to the business information service, adding that sudden market crashes tend to be more profitable due to the specificity of wagers that contracts under these types of funds often make.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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\/wellness\/\">wellness<\/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=\"551901\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper 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decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ei8aqav\" data-v=\"4\" data-block-id=\"ei8aqav\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ei8aqav-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ei8aqav-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551902\" 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=\"551902\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/jeff-goldblums-delightful-take-on-the-non-controversial-joys-of-life-egypts-first-eclair-bar-plus-getting-to-know-people-through-food\/\">\r\n                            Jeff Goldblum\u2019s delightful take on the non-controversial joys of life + Egypt\u2019s first \u00e9clair bar. Plus: Getting to know people through food.                        <\/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\/07\/28\/jeff-goldblums-delightful-take-on-the-non-controversial-joys-of-life-egypts-first-eclair-bar-plus-getting-to-know-people-through-food\/\" 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\/07\/28\/jeff-goldblums-delightful-take-on-the-non-controversial-joys-of-life-egypts-first-eclair-bar-plus-getting-to-know-people-through-food\/')\">\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\/07\/28\/jeff-goldblums-delightful-take-on-the-non-controversial-joys-of-life-egypts-first-eclair-bar-plus-getting-to-know-people-through-food\/\">\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=Jeff Goldblum\u2019s delightful take on the non-controversial joys of life + Egypt\u2019s first \u00e9clair bar. 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The show, which was part of the rollout of shows on Disney+, delves into the history and appeal of these seemingly simple items, and questions why things are the way they are. Disclaimer: Your appreciation for the show is almost entirely dependent on how you feel about Goldblum as your host, who brings his own quirkiness to the table and isn\u2019t embarrassed to geek out in front of an international audience. Ultimately, the show is more an expression of curiosity rather than a deeply educational experience.<\/p>\n<p>\u26bd <strong>The Egyptian Premier League continues to heat up: <\/strong>At 6:30pm, El Gouna will face Ismaily, while Pharco play El Gaish at the same time. Zamalek and Future will face off at 9pm.<\/p>\n<p><strong>Saturday is going to be a busy day:<\/strong> We have Manchester City v Liverpool facing off at 6pm in the season\u2019s curtain-raiser: The FA Community Shield.<\/p>\n<p><strong>The German Super Cup <\/strong>between Leipzig and Bayern Munich will kick off at 8:30pm, also on Saturday.<\/p>\n<p><strong>European friendlies:<\/strong> Arsenal will play against Sevilla in the Emirates Cup at 1:30pm. Manchester United will face Atl\u00e9tico Madrid at 1:45pm. Roma faces Tottenham at 8:15pm, and Inter plays against Lyon at 8:30pm.<\/p>\n<p><strong>Bonus for late Saturday \/ early Sunday:<\/strong> If you\u2019re a night owl (or a super early riser) keep an eye out for Real Madrid v Juventus at 4 am on Sunday.<\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egypt\u2019s first \u00e9clair bar:<\/strong> <a href=\"https:\/\/www.instagram.com\/chouchoueg\/?hl=en\">Chouchou<\/a>, which opened in Arkan this May, brings us 13 different varieties of the French pastry thanks to executive pastry chef Joakim Chambon. Varieties range from the traditional dark chocolate to more unorthodox flavors like lime and basil cream. The store also offers chouquettes \u2014 choux pastry puffs covered with crunchy sugar and cinnamon. We recommend the pistachio \u00e9clair, with a rich, flavorful pastry cream that goes perfectly with the light and airy choux pastry and the lemon \u00e9clair, which is the right amount of tangy. The Design Avenue store design, which aims to express magical realism through the store\u2019s pale pink interiors, adds to the experience of picking out a flavor.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>Swing by <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/586132786561397\/586132826561393\/?active_tab=about\">Swaying Luck: Driven as an Adjective<\/a><\/strong><strong> this weekend:<\/strong> The exhibition features art by Alaa Abdelrahman, Alaa Ayman, Khoshoua ElGohary, Rama Disuky, and Rana Samir. Their artwork will be on display at Bibliothek Egypt through 7 August.<\/p>\n<p><strong>Jazz singer\/songwriter Noha Fekry is taking the stage at <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/740104357327966\/\">Room Garden City<\/a><\/strong><strong> tonight<\/strong> at 9 pm.<\/p>\n<p>? <strong>EARS TO THE GROUND-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>For eaters, not foodies:<\/strong> The <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-sporkful\/id350709629\">Sporkful<\/a> \u2014 which earned a James Beard Award (Academy Awards of the food world) \u2014 is not about Michelin star restaurants, fancy chefs, healthy eating, or cooking advice. Rather, it\u2019s based on the concept that a shared obsession with food is one of the greatest ways to connect with and learn more about people. The podcast is hosted and created by Dan Pashman, who, frustrated with the shortcomings of every pasta shape from spaghetti to penne, made it his mission to create the perfect shape. A mission that culminated with the invention of the cascatelli, which Pashman insists is the superior pasta shape based on its \u201cforkability\u201d \u2014 how easily you can get the pasta on your fork and keep it there \u2014 \u201csauceability,\u201d or how well sauce coats the pasta, and \u201ctoothsinkability,\u201d which measures how satisfying it is to bite into. You can hear all about the three-year process of inventing cascatelli on the podcast\u2019s \u201cMission: ImPASTAble\u201d series.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/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\/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=\"551904\" 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=\"551904\">\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\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/\">\r\n                            Earnings watch: Abu Qir Fertilizers reports FY 2021-2022 results                        <\/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\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/\" 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\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/')\">\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\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/\">\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 reports FY 2021-2022 results&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/\">\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\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/&title=Earnings watch: Abu Qir Fertilizers reports FY 2021-2022 results\">\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+reports+FY+2021-2022+results+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F28%2Fearnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results%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\/07\/28\/earnings-watch-abu-qir-fertilizers-reports-fy-2021-2022-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551904\" class=\"content-area-description single-story post-551904 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 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 saw a 157.5% y-o-y increase in its net income after tax to EGP 9.05 bn<\/strong><strong> in FY 2021-2022<\/strong>, according to the <a href=\"https:\/\/ent.news\/2022\/7\/AbuQir2Q2022.pdf\">company\u2019s financials (pdf)<\/a>. The company\u2019s top line grew 84.8% y-o-y to EGP 16.33 bn during the fiscal year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.9% at today\u2019s close<\/strong> on turnover of EGP 741 mn (9.7% below the 90-day average). Foreign investors were net sellers. The index is down 21.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>Abu Dhabi Islamic Bank-Egypt (+4.3%), Egyptian Kuwaiti Holding-EGP (+4.2%) and Rameda (+3.8%).<\/p>\n<p><strong>In the red: <\/strong>Ibnsina Pharma (-1.7%), Credit Agricole Egypt (-1.5%) and Telecom Egypt (-1.3%).<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551905\" 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=\"551905\">\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\">HEALTH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/\">\r\n                            Open letter calls on ViiV Healthcare to make new HIV injectable more globally accessible                        <\/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\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/\" 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\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/')\">\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\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/\">\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=Open letter calls on ViiV Healthcare to make new HIV injectable more globally accessible&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/\">\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\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/&title=Open letter calls on ViiV Healthcare to make new HIV injectable more globally accessible\">\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=Open+letter+calls+on+ViiV+Healthcare+to+make+new+HIV+injectable+more+globally+accessible+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F28%2Fopen-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible%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\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/438.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551906\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/open-letter-calls-on-viiv-healthcare-to-make-new-hiv-injectable-more-globally-accessible\/438-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/438.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"438.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/438.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/438.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551905\" class=\"content-area-description single-story post-551905 post type-post status-publish format-standard has-post-thumbnail hentry category-health tag-enterprisepm tag-health tag-pfizer tag-viiv-healthcare 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-04\"><\/a> <strong>Open letter calls on ViiV Healthcare to make new HIV injectable more globally <\/strong><strong>accessible:<\/strong> Nobel laureates, business leaders, artists, a former Malawian president and former New Zealand prime minister are among 74 prominent figures that have signed <a href=\"https:\/\/www.unaids.org\/sites\/default\/files\/media_asset\/Open-Letter-Accelerating-end-AIDS-through-access-to-game-changing-new-health-technologies_en.pdf\">an open letter (pdf)<\/a> to the CEO of HIV specialist company <a href=\"https:\/\/viivhealthcare.com\/en-us\/\">ViiV Healthcare<\/a> calling for fairer and more affordable global access to its groundbreaking new HIV medication. The letter was <a href=\"https:\/\/www.unaids.org\/sites\/default\/files\/media_asset\/20220719_PR_experts-world-leaders-stars-unite-in-call-to-make-ground-breaking-new-HIV-medicines-accessible-to-all_en.pdf\">published last week<\/a> in the run-up to the 24th International AIDS Conference in Montreal on 29 July.<\/p>\n<p><strong>What exactly are they asking for?<\/strong> The letter asks that ViiV substantially reduce the price of its newly-developed antiretroviral injectable for HIV prevention \u2014 CAB-LA \u2014 as well as quickly finalize licenses to produce generic versions, share tech knowledge so global producers can start manufacturing it, and commit to supplying enough of it to meet global demand until other producers come online.<\/p>\n<p><strong>The bottom line? If life-saving medication isn\u2019t more accessible, the HIV\/AIDS pandemic will roll on:<\/strong> Global access to HIV prevention and treatment is already deeply skewed in favor of wealthy countries, and if CAB-LA isn\u2019t made widely available and affordable, it will deepen the inequalities fueling the pandemic, the letter argues. Currently, almost 10 mn people living with HIV globally aren\u2019t accessing treatment, leading to 680k preventable deaths from AIDS every year, it adds.<\/p>\n<p><strong>Antiretroviral medication has been game changing in the fight against HIV\/ AIDS:<\/strong> After the first antiretroviral agent, AZT, <a href=\"https:\/\/time.com\/4705809\/first-aids-drug-azt\/\">was developed<\/a> in 1987, widespread uptake of antiretroviral therapy (ART) in the developed world during the mid-1990s <a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC4309625\/\">significantly reduced<\/a> mortality, <a href=\"https:\/\/ourworldindata.org\/art-lives-saved#:~:text=The%2079%25%20figure%20is%20based,be%20measured%20using%20observational%20studies.\">saving mns of lives<\/a>. In 2016, an estimated 1 mn globally died from HIV\/AIDS, but 1.2 mn deaths were averted because of ART, Our World in Data \u2014 a collaboration between Oxford University researchers and non-profit Global Change Data Lab \u2014 estimates. ART not only significantly extends life expectancy \u2014 with a person who starts it in their twenties in a high-income country perhaps living for another 46 years \u2014 but can also prevent HIV transmission to others.<\/p>\n<p><strong>But for many years, high costs made ART inaccessible to many in developing economies:<\/strong> In 2000, <a href=\"https:\/\/www.borgenmagazine.com\/cost-of-medicine-developing-countries\/\">the cost<\/a> of a year\u2019s treatment with antiretroviral medication in sub-Saharan Africa was some USD 10k per person. By 2016, it had fallen to less than USD 100 per person. This lower pricing, and generic competition between medication providers, eventually made ART more accessible, \u201csparing an estimated 16.5 mn lives,\u201d the open letter notes.<\/p>\n<p><strong>And as of December 2021, 28.7 mn people were accessing ART, up from 7.8 mn in 2010,<\/strong> <a href=\"https:\/\/www.unaids.org\/en\/resources\/fact-sheet\">UNAIDS notes<\/a>.<\/p>\n<p><strong>Still, the stats of people living with HIV\/AIDS make for sobering reading:<\/strong> Some 38.4 mn people on average globally were living with HIV in 2021, according to UNAIDS. 1.5 mn people on average became newly infected with HIV in 2021, and 650k people on average died from AIDS-related illnesses in the same year.<\/p>\n<p><strong>This all sounds very familiar: <\/strong>The <a href=\"https:\/\/www.who.int\/campaigns\/vaccine-equity\">World Health Organization notes<\/a> that vaccine equity is an essential part of ending the covid-19 pandemic. But pharma giants \u2014 including ViiV co-owner Pfizer \u2014 have repeatedly <a href=\"https:\/\/www.amnesty.org\/en\/petition\/end-vaccine-inequality-now\/\">faced strong criticism<\/a> for perpetuating covid-19 vaccine inequity by keeping vaccine prices high, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb5096af-9140-4741-a722-a5ad79c799e6\">refusing to share<\/a> their tech, and <a href=\"https:\/\/www.thebureauinvestigates.com\/stories\/2021-02-23\/held-to-ransom-pfizer-demands-governments-gamble-with-state-assets-to-secure-vaccine-deal\">imposing \u201cabusive\u201d conditions<\/a> on countries that want to purchase shots.<\/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\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/viiv-healthcare\/\">ViiV Healthcare<\/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=\"551907\" 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\/07\/28\/551907\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551907\" class=\"content-area-description single-story post-551907 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 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>JULY<\/strong><\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>28 July (Thursday): The government hosts public consultations on its state ownership policy with representatives from the healthcare industry.<\/p>\n<p>29 July (Friday): Aleph Commodities shareholder meeting to vote on potential merger with Tenaz Energy Corp.<\/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>August: Sharm El Sheikh will host the African Sumo Championship.<\/p>\n<p>14 August (Sunday): Conference of Egyptian entities abroad.<\/p>\n<p>16 August (Tuesday): MNHD\u2019s general assembly meeting to decide whether to allow SODIC to go ahead with due diligence on its takeover bid.<\/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: <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>, Egypt\u2019s first naval defense expo<\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>September: <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid034CjQppGScajHW83ktsmyHavSTQRys9Ezbp9KXCNfPg61XwgzSvHVYi7RfHWxsTESl\">Egyptian-German Joint Economic Committee<\/a>.<\/p>\n<p>September: A delegation from Germany\u2019s Aldi will visit Egypt to look at potential investments.<\/p>\n<p>September: Government to launch an <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QKmVCxurac4PGgrxGiVR7LN5BgQi5aCPpHahEzKda36Q1obcfw1w2P3M7eVm4Tujl\">international promotional campaign<\/a> for Egyptian tourism.<\/p>\n<p>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Kobba Palace, Cairo.<\/p>\n<p>7-9 September (Wednesday-Friday): African Finance Ministers to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid034TbdNfjuu5yHr2NAycih1ggLyA8CPUgnE4AB8MF3SD1Zpv5rTvBmitm7sb4GyiqDl\">meet in Cairo<\/a> to coordinate an African-led position during COP27.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>11-13 September (Tuesday-Thursday): <a href=\"https:\/\/ed-forum.org\/\">Environment and Development Forum (EDF)<\/a>, InterContinental City Stars, Cairo.<\/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>26\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/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>1 October (Saturday): 2022- 2023 academic year begins for public universities.<\/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>10-16 October (Monday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Annual-Spring-Meetings\">World Bank and IMF annual meetings<\/a> chaired by CBE Governor Tarek Amer, Washington, DC.<\/p>\n<p>18-20 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria.<\/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>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7-13 November (Mon-Sun): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/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>7 January (Saturday): Coptic Christmas.<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/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. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":551896,"template":"","categories":[],"tags":[],"class_list":["post-551895","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0c365d20-f0c7-4eb7-a8a6-eb0258f4dd69","teaser":"","photo_url":"https:\/\/ent.news\/2022\/7\/71.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The recession bells are ringing - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-recession-bells-are-ringing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The recession bells are ringing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-recession-bells-are-ringing\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:33:38+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/71.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-recession-bells-are-ringing\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-recession-bells-are-ringing\/\",\"name\":\"The recession bells are ringing - 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