{"id":554764,"date":"2021-11-10T13:37:05","date_gmt":"2021-11-10T13:37:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=554764"},"modified":"2025-12-16T00:38:16","modified_gmt":"2025-12-16T00:38:16","slug":"annual-urban-inflation-unexpectedly-slid-in-october-to-6-3-from-its-20-month-high-of-6-6-in-september","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/annual-urban-inflation-unexpectedly-slid-in-october-to-6-3-from-its-20-month-high-of-6-6-in-september\/","title":{"rendered":"Annual urban inflation unexpectedly slid in October to 6.3% from its 20-month high of 6.6% in September."},"content":{"rendered":"<section id=\"554766\" 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=\"554766\">\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\/2021\/11\/10\/tonight-inflation-unexpectedly-dipped-in-october-transmea-cairo-ict-are-on-their-final-day-goldman-has-heart-eyes-for-our-equities\/\">\r\n                            TONIGHT: Inflation unexpectedly dipped in October + TransMea, Cairo ICT are on their final day + Goldman has heart eyes for our equities                        <\/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\/2021\/11\/10\/tonight-inflation-unexpectedly-dipped-in-october-transmea-cairo-ict-are-on-their-final-day-goldman-has-heart-eyes-for-our-equities\/\" 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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EGX30 stocks \u2014 like those of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a098ba5-0fb7-4dcb-9e0a-8ce0dbd808d8\">many emerging markets<\/a> \u2014 are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c2c1caa5-fc27-44e7-951c-36c10bb90833\">widely seen as<\/a> undervalued right now, creating the potential for gains in the mid-term.<\/p>\n<p><strong>The EGX30 fe<\/strong><strong>ll 0.9% today on turnover of EGP 821.2 mn<\/strong> (45% below the 90-day average). Regional investors were net buyers. The index is up 5.9% YTD.<\/p>\n<p><strong>Elsewhere in emerging markets<\/strong>, Goldman strategists tip USD-denominated Mexican and Russian shares, on the back of attractive valuations and the fact that the two countries are well-insulated from macro trends.<\/p>\n<p><strong>The big picture, per Goldman:<\/strong> Globally, demand will continue to outstrip supply, inflation is set to keep accelerating, and China\u2019s growth could slow further. Equities and hard liquidity are currently preferable to bonds, which are \u201cstruggling.\u201d<\/p>\n<p><strong>THE BIG STORIES TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Inflation unexpectedly cooled:<\/strong> Annual urban inflation slid in October to 6.3% from its 20-month high of 6.6% in September, as the rate of inflation in food and beverage prices and education dipped from the month prior, according to figures released by Capmas today. The decrease went against analysts\u2019 expectations of inflation continuing its upward trend through 4Q2021 on the back of the recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/390900ee-1b5c-47ff-89a3-2a7cc122897e\">hike in fuel prices<\/a> and a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a41ad6b-9141-4ceb-9c19-9cdb81e423f3\">28% rise<\/a> in factories\u2019 gas bills, compounded by a surge in global commodity prices.<\/p>\n<p><strong>Vodafone Global nods to Vodacom buying out its stake in Vodafone Egypt:<\/strong> Vodafone Group has agreed to transfer its 55% stake in Vodafone Egypt to Vodacom Group, its sub-Saharan African subsidiary, in a EUR 2.72 bn transaction, according to a <a href=\"https:\/\/www.vodafone.com\/news\/press-release\/egypttransfer\">company statement<\/a>. The move will \u201csimplify\u201d the management of its African holdings, according to the UK-based mother company. <strong>The acquisition is expected to conclude before 31 March 2022.<\/strong><\/p>\n<p><strong>The Madbouly cabinet just made it easier for home owners to<\/strong> <strong>register their properties<\/strong> under amendments to the Real Estate Registry and the Income Tax Act approved at its weekly <a href=\"https:\/\/bit.ly\/3D3eRBh\">meeting today<\/a>. Under the changes registration will no longer need lengthy on-ground inspections by notaries and pain-staking documentation that trace provenance. Instead, notaries will accept official documents submitted by the homeowners and skip the pre-approval phase.<\/p>\n<p><strong>The registration process will also no longer be linked to pre-paying the 2.5% <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c808039-3cb1-44c2-b027-fe4c72017443\">property disposal tax<\/a><\/strong> or a flat-tax rate on older contracts.<\/p>\n<p><strong>^^We\u2019ll have more details in tomorrow\u2019s AM Edition.<\/strong><\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>The US and Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/271227da-7e66-44a4-a1d2-974d5e158fd7\">wrapped up<\/a><\/strong><strong> their two-day strategic talks<\/strong> with the two sides agreeing on \u201cdeepening\u201d cooperation, but without Washington giving Egypt formal public backing on the Grand Ethiopian Renaissance Dam.<\/li>\n<li><strong>OTO Courses nets investment worth USD 400k from EdVentures:<\/strong> Egyptian edtech platform OTO Courses has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d08fdcd-daed-4b3e-89f3-fcdc0f60cae7\">secured an investment<\/a> worth USD 400k (c. EGP 6.3 mn) from Nahdet Misr for Publishing\u2019s VC arm, Edventures.<\/li>\n<li><strong>South Africa and London-based fintech company JUMO <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f42fcd51-a077-4529-a8bb-4b07783f8ff2\">is considering an expansion<\/a><\/strong><strong> into Egypt<\/strong>, after raising USD 120 mn in its latest funding round.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>HAPPENING NOW-<\/strong> <strong>Tanzania\u2019s President Samia Suluhu Hassan is in town for a three-day<\/strong><strong> visit<\/strong>, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/441694193985981\">Ittihadiya statement<\/a>. She is scheduled to hold talks with President Abdel Fattah El Sisi on strengthening economic links between Egypt and Tanzania, <a href=\"https:\/\/www.theeastafrican.co.ke\/tea\/news\/east-africa\/tanzania-president-samia-suluhu-visits-egypt-3614124\">the East African<\/a> reports. Hassan is also set to witness the signing of eight unspecified agreements, including one contract.<\/p>\n<p><strong>It\u2019s the last day of the TransMea transport conference.<\/strong> The first two days of the exhibition saw Egypt sign a total of 21 new transport infrastructure agreements, with the Cairo Metro taking the spotlight and accounting for the majority of the big contracts signed at the conference. <strong>Want to catch up? We had a detailed breakdown of all the agreements<\/strong> and what they each entail in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a59711e-961d-4304-9ac3-b76ecef25fbc\">this morning\u2019s edition of Hardhat<\/a>, our weekly infrastructure vertical.<\/p>\n<p><strong><a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a><\/strong><strong> is also on its final day today.<\/strong> A number of companies have been unveiling their most recent technologies at the expo, including Visa, which presented its digital payments technology <a href=\"https:\/\/ent.news\/2021\/11\/Visa-readies-to-showcase-its-latest-ePayment-solutions-at-Cairo-ICT-2021-ENG-FINAL-10112021.docx.pdf\">earlier today (pdf)<\/a> and Banque Misr, which showcased its <a href=\"https:\/\/ent.news\/2021\/11\/Banque-Misr-Cairo-ICT.doc.pdf\">online banking system (pdf)<\/a>.<\/p>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Anghami SPAC merger deadline is almost here:<\/strong> Tomorrow is Anghami\u2019s <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">deadline<\/a> to pull the trigger on a merger with blank-check firm Vista Media Acquisition Company and list on the Nasdaq. The company had previously extended the deadline in August.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The two-day <\/strong><strong><a href=\"https:\/\/africafintechsummit.com\">Africa Fintech summit<\/a><\/strong><strong> kicks off next Tuesday, 16 November.<\/strong> The summit looks at innovation in the fintech ecosystem, venture capital and other forms of investing, and will also discuss the rise of healthtech.<\/p>\n<p><strong>Calling all Egyptian entrepreneurs aged 23-35:<\/strong> You have exactly two weeks to apply for the acceleration exchange program <a href=\"https:\/\/msv.untapcompete.com\/\">Meet Silicon Valley<\/a> for a chance to travel to California for a 10-day program to meet with tech executives and investors.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- Temps look set to remain well below the 30s:<\/strong> Look for a daytime high of 26\u00b0C and a nighttime low of 18\u00b0C tomorrow.<\/p>\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>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The biggest ever sell-off in Chinese international junk bonds intensified this week, <\/strong>the <a href=\"https:\/\/www.wsj.com\/articles\/chinese-junk-bond-yields-top-25-as-property-market-strains-intensify-11636371718?mod=lead_feature_below_a_pos1\">Wall Street Journal<\/a> reports, with yields topping 25% as prices bottom out. The historic selloff has eradicated a third of bondholders\u2019 wealth in six months. Most of China\u2019s high-yield or \u201cjunk\u201d bonds are concentrated in its property market, which is struggling to emerge from turmoil sparked by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/914a40cb-ac49-43f8-9b46-cb90bdcfca6f\">Evergrande crisis<\/a>, compounded by regulatory restrictions on borrowing and a slowdown in house sales. Many of the country\u2019s property developers have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a6e886a-4038-4e37-b62e-af7f4590759e\">defaulted on bond payments<\/a> in recent weeks.<\/p>\n<p><strong>Where do things stand with Evergrande? <\/strong>The crumbling property giant has been hanging by a thread for weeks, but the dramatic default that was prophesied has not yet come to pass. Most recently, Evergrande<a href=\"https:\/\/www.bbc.com\/news\/business-59216504\">managed to raise USD 145 mn<\/a> by selling a 5.7% stake in media firm HengTen Networks Group in an attempt to meet USD 148 mn in overdue payments this week.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Crackdown of some of the \u201cbiggest companies\u201d in the US coming in weeks:<\/strong> Over in the US, the Department of Justice appears to be looking at a crackdown within weeks that will involve \u201csome of the biggest companies\u201d operating in the US, senior law official John Carlin told <a href=\"https:\/\/www.ft.com\/content\/81a90d89-2fa5-45b3-8de6-d70ae9e37810\">the Financial Times.<\/a> Potential targets include companies that had violated the terms of deferred prosecution agreements, which postpone criminal charges for a set period of time to allow a business to prove that it could remedy the wrongdoing in exchange for a financial penalty, Carlin says. He says the move comes as part of the Biden administration\u2019s pledge to crackdown on corporate wrongdoing.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Draft of final COP26 pledge asks countries to try again next year:<\/strong> The <a href=\"https:\/\/ent.news\/2021\/11\/Overarching_decision_1-CP-26.pdf\">first draft<\/a><a href=\"https:\/\/ent.news\/2021\/11\/Overarching_decision_1-CP-26.pdf\">(pdf)<\/a> of a conclusive COP26 agreement, released earlier this morning, has asked countries to \u201crevisit and strengthen the 2030 targets in their nationally determined contributions,\u201d by the end of 2022 \u2014 when Egypt is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc9d5497-4f0e-420b-bee0-660e1f504947\">expected to host<\/a> COP27 in Sharm El-Sheikh. The draft proposal does not specify whether the pledges should be improved on an annual basis going forward, potentially leaving that decision to the next conference. The proposal urges richer countries to \u201cscale up\u201d financing for low income countries that will suffer the worst effects from a warming planet but remains disappointingly light on details outlining when and by how much they are expected to do so. The World leaders from the nearly 200 countries in attendance are expected to continue negotiating the final text of a conclusive COP26 agreement before the Glasgow summit ends this weekend, <a href=\"https:\/\/www.reuters.com\/business\/cop\/un-climate-agency-publishes-draft-final-glasgow-deal-2021-11-10\/\">Reuters<\/a> reports.<\/p>\n<p><strong>Observers aren\u2019t taking this as a good sign: <\/strong>Environmental watchdog Greenpeace has already <a href=\"https:\/\/www.greenpeace.org\/international\/press-release\/50661\/new-cop26-draft-decision-text-greenpeace-response\/\">called the draft<\/a> \u201can agreement that we\u2019ll all cross our fingers and hope for the best.\u201d Research group Climate Action Tracker (CAT) has said that current national pledges <a href=\"https:\/\/climateactiontracker.org\/publications\/glasgows-2030-credibility-gap-net-zeros-lip-service-to-climate-action\/\">fail to cut<\/a> greenhouse gas emissions as significantly as is needed to reach the 1.5 degree celsius cap on warming outlined in the Paris Agreement in 2015. Commitments so far put us on track to reach an average 2.4 degrees celsius of warming above pre-industrial levels by 2100, the group 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\/cairo-ict\/\">Cairo ICT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop26\/\">COP26<\/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\" 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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=\"554767\" 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 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stk-block-column stk-column stk-block stk-8ryi9et\" data-v=\"4\" data-block-id=\"8ryi9et\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8ryi9et-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8ryi9et-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\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n         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                   <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/10\/welcome-to-the-fifth-dimension-where-you-can-file-municipal-paperwork\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/100.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554769\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/10\/welcome-to-the-fifth-dimension-where-you-can-file-municipal-paperwork\/100-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/100.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"100.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/100.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/100.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554768\" class=\"content-area-description single-story post-554768 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-elon-musk tag-enterprisepm tag-facebook tag-for-your-commute tag-meta tag-metaverse tag-smart-cities tag-south-korea 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-07\"><\/a> <strong>Municipal metaverse:<\/strong> South Korea will be entering <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f8584ee-f227-43cf-8d72-9d601d2b01e1\">the metaverse<\/a> with a five-year plan to build a virtual platform for public services and cultural events, tentatively christened Metaverse Seoul, according to a <a href=\"http:\/\/english.seoul.go.kr\/seoul-to-provide-public-services-through-its-own-metaverse-platform\/?cat=46\">municipal press release<\/a>. The capital city\u2019s government will invest USD 3.3 bn next year alone to build its self-developed virtual platform, envisioned as \u201ca new continent \u2026 where public demand and private technologies are combined,\u201d according to its smart cities director.<\/p>\n<p><strong>When can we visit? <\/strong>South Korea\u2019s capital will ring in the coming new year with a ceremony in the virtual city. By 2026, Metaverse Seoul will host a city hall where residents can make enquiries and file paperwork, a mayoral office, a business hub and co-working spaces, a fintech lab meant to attract foreign investment, networking and conference facilities, and virtual versions of the city\u2019s main tourist attractions.<\/p>\n<p><strong>The public sector enters the Matrix:<\/strong> The fight to build the metaverse is set to raise a whole lot of thorny questions about territory, ownership, accessibility, and the distinction between public and private space in the digital sphere. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e231f27-53f4-4b3f-b689-75c3f4a8cd8e\">Signs abound<\/a> that Mark Zuckerberg\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7fa30185-cd52-4113-a6da-518ca7cade0e\">recent rebrand of Facebook to Meta<\/a> was merely the opening play in a coming corporate turf war over the new frontier. Seoul\u2019s announcement brings government into the fray, and may set the tone for private-public collaboration in the space. Expect interest in any coming announcements about which private firms and technologies are brought in to help develop Metaverse Seoul.<\/p>\n<hr class=\"grey-line\">\n<p><strong>How not to manage your wealth: A memoir by Elon Musk.<\/strong> The Tesla CEO\u2019s net worth plunged USD 50 bn in two days \u2014 the biggest drop in the history of the<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-09\/musk-loses-50-billion-on-tesla-tumult-in-record-wealth-plunge?sref=mmeFTDW1\">Bloomberg B\u2019naires Index<\/a> \u2014 after he <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2651d74f-0e6f-46d4-a1d9-671c292d44e7\">set up a Twitter poll<\/a> asking if he should sell 10% of his shares in the automaker. Apparently, selling USD 21 bn of Tesla stock was \u201cthe only way\u201d for Elon to \u201cpay taxes personally.\u201d The poll, now branded \u201cthe most expensive tweet in history,\u201d drove down Tesla\u2019s share price by 16% this week, with more than half of the respondents voting yes. Also not helping the company\u2019s share performance: Elon\u2019s brother <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-09\/musk-s-brother-sold-109-million-in-tesla-stock-ahead-of-poll?sref=mmeFTDW1\">sold<\/a> some USD 109 mn-worth of his shares just one day before the poll.<\/p>\n<p><strong>Don\u2019t set up a GoFundMe for Musk just yet:<\/strong> All that being said, Tesla is still up by a whopping 45% this year and Musk is still the richest man on earth.<\/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\/elon-musk\/\">Elon Musk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/facebook\/\">Facebook<\/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\/meta\/\">meta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metaverse\/\">metaverse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smart-cities\/\">smart cities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/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=\"554770\" 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=\"554770\">\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\/2021\/11\/10\/watch-stories-of-women-facing-patriarchal-challenges-read-sherlock-but-make-it-masry\/\">\r\n                            Watch stories of women facing patriarchal challenges + Read Sherlock, but make it Masry                        <\/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\/2021\/11\/10\/watch-stories-of-women-facing-patriarchal-challenges-read-sherlock-but-make-it-masry\/\" 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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Each 10-episode installment tells the story of a woman or a group of women who face challenges \u2014 often related to the patriarchy \u2014 in Egyptian society, with the series being praised for its frank portrayal of thorny issues, from narcotics use, to [redacted] assault, to inheritance laws. The installments feature some big name stars, with Jamila Awad playing a young woman living with vitiligo who hides her condition from her fianc\u00e9 in one series, and Yosra El Lozy playing a woman who unknowingly has her life exposed on social media in another.<\/p>\n<p><strong>The most controversial and hard hitting is the \u201cBanat Moussa\u201d installment<\/strong>, which shows how far the patriarchs of an upper Egyptian family will go to prevent their deceased brother\u2019s daughters from receiving their rightful inheritance. The series is available to stream on <a href=\"https:\/\/www.watchit.com\/series\/Banat-Mousa\">WatchiT<\/a>.<\/p>\n<p>\u26bd <strong>It\u2019s the international break, so there are no league games going on. <\/strong><\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><strong>For electronic music fans, <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/253035333443058\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22discovery_top_tab%22%2C%22surface%22%3A%22bookmark%22%7D]%2C%22ref_notif_type%22%3Anull%7D\">Cairo Jazz Club 610<\/a><\/strong><strong> has its latest Impulse Thursday <\/strong><strong>night coming up tomorrow at 8pm.<\/strong> Copenhagen-based DJ Denis Horvat will play back to back with Amsterdam\u2019s Colyn, after a warm up set from Egypt\u2019s Aly Goede. Info on how to reserve is on the <a href=\"https:\/\/www.facebook.com\/events\/253035333443058\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22discovery_top_tab%22%2C%22surface%22%3A%22bookmark%22%7D]%2C%22ref_notif_type%22%3Anull%7D\">event\u2019s Facebook page<\/a>.<\/p>\n<p><strong>Striking a very different musical note, <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/214096710796535\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22search_results%22%2C%22surface%22%3A%22bookmark%22%7D]%2C%22ref_notif_type%22%3Anull%7D\">Makan is holding a concert<\/a><\/strong><strong> at 8pm tonight<\/strong> featuring the Mawaweel band, and folklore singers Abd El Rahman Balalh and Sayed Emam.<\/p>\n<p><strong>The \u201cBack to Egypt: A Brazilian Collection of Photographs\u201d <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/624626695206610\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22search_results%22%2C%22surface%22%3A%22bookmark%22%7D]%2C%22ref_notif_type%22%3Anull%7D\">exhibition is running<\/a><\/strong><strong> at <\/strong><strong>Zamalek\u2019s Gezira Art Center from 3-30 November,<\/strong> from 10am-2pm and 5pm-9pm (except Friday). The exhibition features 19th Century photos of Egypt from Brazilian Emperor Dom Pedro II\u2019s private collection.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>Sherlock, but make it Masry:<\/strong> Modern adaptations of Arthur Conan Doyle\u2019s beloved Sherlock Holmes stories have <a href=\"https:\/\/www.theguardian.com\/books\/2021\/feb\/04\/i-think-ive-written-more-sherlock-holmes-than-even-conan-doyle-the-ongoing-fight-to-reimagine-holmes\">boomed in recent years<\/a>. Among the earliest pretenders to the author\u2019s throne is Nicholas Meyer, whose Holmes-inspired novel and film <a href=\"https:\/\/www.imdb.com\/title\/tt0075194\/\">The Seven-Per-Cent Solution<\/a> was a hit in the seventies (as were the two <a href=\"https:\/\/www.rottentomatoes.com\/celebrity\/nicholas_meyer\">eighties-era Star Trek films<\/a> he directed.) Now Meyer is back on the case with the genius crime-solver and his physician sidekick\u2014this time in Egypt, no less\u2014in his latest novel <a href=\"https:\/\/us.macmillan.com\/books\/9781250788207\/thereturnofthepharaoh\">The Return of the Pharaoh<\/a>, released yesterday.<\/p>\n<p><strong>Egyptology, my dear Watson: <\/strong>Set in the era of British occupation, colonial cliches abound in this murder-mystery-meets-Mummy-Returns romp. Complete with disappearing English dukes, exotic dancers who moonlight as spies, sandstorms, and a cameo from the real-life <a href=\"https:\/\/en.wikipedia.org\/wiki\/Howard_Carter\">British Egyptologist<\/a> who discovered Tutankhamun\u2019s tomb, Meyer\u2019s jam-packed plot promises kitsch if nothing else. \u201cMeyer paints a vivid picture of a former and less established Egypt, acknowledging the pillaging of artifacts by Western countries like Britain and France,\u201d according to the <a href=\"https:\/\/apnews.com\/article\/entertainment-book-reviews-espionage-arts-and-entertainment-dc623003a4f617127eb97abe2bd110ab\">Associated Press<\/a>. Gold-standard reviewer <a href=\"https:\/\/www.kirkusreviews.com\/book-reviews\/nicholas-meyer\/the-return-of-the-pharaoh\/\">Kirkus<\/a> is less kind: \u201cA rousing adventure that has little in common with the Holmes canon except for some proper names.\u201d<\/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\/egyptology\/\">Egyptology<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554772\" 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=\"554772\">\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\/2021\/11\/10\/ci-capital-earnings-up-122\/\">\r\n                            CI Capital earnings up 122%                        <\/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\/2021\/11\/10\/ci-capital-earnings-up-122\/\" 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\/2021\/11\/10\/ci-capital-earnings-up-122\/')\">\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\/2021\/11\/10\/ci-capital-earnings-up-122\/\">\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=CI Capital earnings up 122%&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/10\/ci-capital-earnings-up-122\/\">\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\/2021\/11\/10\/ci-capital-earnings-up-122\/&title=CI Capital earnings up 122%\">\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=CI+Capital+earnings+up+122%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F10%2Fci-capital-earnings-up-122%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\/2021\/11\/10\/ci-capital-earnings-up-122\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554772\" class=\"content-area-description single-story post-554772 post type-post status-publish format-standard hentry category-go-with-the-flow tag-ci-capital tag-earnings-watch 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><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>EARNINGS WATCH- CI Capital reported a net income of EGP 241 mn in 3Q2021<\/strong>, up 122% y-o-y, the investment bank said in its <a href=\"https:\/\/ent.news\/2021\/11\/3Q21-Earnings-Release.pdf\">earnings release (pdf)<\/a>. Total revenues were also up 36% to EGP 773 mn.<\/p>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>The EGX30 fe<\/strong><strong>ll 0.9<\/strong><strong>%<\/strong><strong> today<\/strong> on turnover of EGP 821.2 mn (45% below the 90-day average). Regional investors were net buyers. The index is up 5.9% YTD.<\/p>\n<p><strong>In the green: <\/strong>Medinet Nasr Housing (+3.1%), Mopco (+2.2%) and Abou Kir Fertilizers (+0.8%).<\/p>\n<p><strong>In the red: <\/strong>Gadwa for Industrial Development (-5.1%), Aspire Capital (-3.9%) and AMOC (-3.3%).<\/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\/ci-capital\/\">CI Capital<\/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\/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=\"554773\" 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\/2021\/11\/10\/554773\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554773\" class=\"content-area-description single-story post-554773 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>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>31 October - 12 November (Sunday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>7-10 November (Sunday-Wednesday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT 2021<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>7-10 November (Sunday-Wednesday): <a href=\"https:\/\/trans-mea.com\/\">TransMea 2021<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>11 November (Thursday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>15 November (Monday): Unvaccinated public sector workers won\u2019t be allowed into their workplaces.<\/p>\n<p>15 November (Monday): Car dealerships must comply with new consumer protection rules requiring price stickers to be attached to vehicles.<\/p>\n<p>15-21 November (Monday-Sunday): <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, Durban, KwaZulu-Natal, South Africa.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>17 November (Wednesday): The International Finance Corporation hosts the Sustainable Finance Forum.<\/p>\n<p>18-19 November (Thursday-Friday): British royal family members Prince Charles and the Duchess of Cornwall visit Cairo.<\/p>\n<p>25 November (Thursday): Rameda Pharma\u2019s <a href=\"https:\/\/bit.ly\/3bCRthH\">annual general meeting (pdf)<\/a>, at which it will decide on the sale of a 5% stake in the company from an individual shareholder to an unnamed institutional investor.<\/p>\n<p>25-27 November (Thursday-Saturday): <a href=\"https:\/\/www.facebook.com\/events\/857701738279267\/\">RiseUp Summit<\/a>, Cairo, Egypt.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>30 November (Tuesday): Launch of open call by GIZ and KfW for green project proposals in Egypt as part of their <a href=\"https:\/\/ent.news\/2021\/10\/2021-10-25_FINAL_EGY-announcement-en.pdf\">Investing for Employment facility (pdf).<\/a><\/p>\n<p>1 December (Wednesday): Unvaccinated members of the public will be banned from government buildings from this date; unvaccinated students will be prevented from accessing university campuses.<\/p>\n<p>1 December (Wednesday): Government departments will begin moving to offices in the new capital.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>8-10 December (Wednesday-Thursday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>7 January 2022 (Friday): Coptic Christmas.<\/p>\n<p>27 January 2022 (Tuesday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>2 April 2022 (Saturday): First day of Ramadan (TBC).<\/p>\n<p>22-24 April 2022 (Friday-Sunday):<a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April 2022 (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April 2022 (Monday): Sham El Nessim.<\/p>\n<p>25 April 2022 (Monday): Sinai Liberation Day.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (Thursday): June 30 Revolution Day, national holiday.<\/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>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/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 below 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":554765,"template":"","categories":[],"tags":[],"class_list":["post-554764","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f895f05b-4831-4578-aea2-308421fc67a3","teaser":"","photo_url":"https:\/\/ent.news\/2021\/11\/96.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>Annual urban inflation unexpectedly slid in October to 6.3% from its 20-month high of 6.6% in September. - 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\/annual-urban-inflation-unexpectedly-slid-in-october-to-6-3-from-its-20-month-high-of-6-6-in-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Annual urban inflation unexpectedly slid in October to 6.3% from its 20-month high of 6.6% in September.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/annual-urban-inflation-unexpectedly-slid-in-october-to-6-3-from-its-20-month-high-of-6-6-in-september\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:38:16+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/96.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\/annual-urban-inflation-unexpectedly-slid-in-october-to-6-3-from-its-20-month-high-of-6-6-in-september\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/annual-urban-inflation-unexpectedly-slid-in-october-to-6-3-from-its-20-month-high-of-6-6-in-september\/\",\"name\":\"Annual urban inflation unexpectedly slid in October to 6.3% from its 20-month high of 6.6% in September. - 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