{"id":564124,"date":"2021-08-10T13:45:11","date_gmt":"2021-08-10T13:45:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=564124"},"modified":"2025-12-16T04:23:40","modified_gmt":"2025-12-16T04:23:40","slug":"annual-urban-inflation-accelerated-in-july-but-not-as-much-as-analysts-had-expected-it-to","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/annual-urban-inflation-accelerated-in-july-but-not-as-much-as-analysts-had-expected-it-to\/","title":{"rendered":"Annual urban inflation accelerated in July \u2014 but not as much as analysts had expected it to"},"content":{"rendered":"<section id=\"564126\" 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=\"564126\">\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\/08\/10\/tonight-google-wants-to-dock-your-wages-if-you-wfh-goldbuggery\/\">\r\n                            TONIGHT- Google wants to dock your wages if you WFH + Goldbuggery.                        <\/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\/08\/10\/tonight-google-wants-to-dock-your-wages-if-you-wfh-goldbuggery\/\" 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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It\u2019s another busy newsday, so let\u2019s jump right in:<\/p>\n<p><strong>THE BIG STORY TODAY- Consumer prices rose in July at the fastest pace so far this <\/strong><strong>year<\/strong>, advancing to 5.4% last month from 4.9% in June as electricity and food prices rose. We have chapter and verse in this afternoon\u2019s Speed Round, below.<\/p>\n<p><strong>WHAT WE\u2019RE ACTUALLY CHEERING: The EGX30 is in the green year-to-date <\/strong>for what we are pretty sure is the first time in 2021. The benchmark index is now up 0.1% YTD (0.08% if you want to get picky about it) after closing up 0.5% today in heavy trading. Shares worth EGP 1.91 bn changed hands today \u2014 nearly 32% above the trailing 90-day average.<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s EnterpriseAM:<\/p>\n<ul>\n<li><strong>NIB to be liquidated: <\/strong>The heavily indebted National Investment Bank (NIB) \u2014 which is actually a development bank \u2014 is preparing for its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa7d4334-ee20-4c8a-82af-229f5b4e91fb\">liquidation<\/a> over the coming 18 months or so. The plan to shutter the institution was agreed with the International Monetary Fund.<\/li>\n<li><strong>Is Damietta about to become Israel\u2019s natgas terminal?<\/strong> Both countries\u2019 oil ministers were in talks yesterday about using <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a83b788-b5c2-43f0-8db1-fd3d68201e0e\">Damietta\u2019s liquefied natural gas facilities to receive, process and export Israel's natural gas<\/a> bonanza.<\/li>\n<li><strong>Egyptian fintech startup Dopay will offer its services to Bank ABC corporate <\/strong><strong>clients:<\/strong> Dopay has landed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c6918bb-5900-49b0-a24c-9cfdb570086d\">a CBE-regulated agent banking license<\/a> that will allow the startup to provide payroll and other banking services in partnership with Bank ABC.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD? Dear God, it\u2019s a slow newsday. <\/strong>SoftBank\u2019s move to cut investment in China until the Great Capitalist \/ Tech Smackdown cools leads the front page of the <a href=\"https:\/\/www.ft.com\/content\/8b98db7c-24e9-4aa4-bc42-56338139962e\">Financial Times<\/a>. The <a href=\"https:\/\/www.wsj.com\/articles\/softbank-posts-lower-profit-as-tech-rally-cools-11628579001?mod=hp_lead_pos1\">Wall Street Journal<\/a> is also banging on about SoftBank, reporting that the value of the company\u2019s tech investments sank alongside its profitability in the quarter ending June. Does anybody in Egypt really care about SoftBank \u2014 other than as a reminder of what happens to private investment when governments deliver a smack to the heads of high-profile corporations?<\/p>\n<p><strong>More interesting: The Economist\u2019s lead story<\/strong>, which asks <a href=\"https:\/\/www.economist.com\/business\/what-tech-does-china-want\/21803410\">What tech does China want?<\/a>as it argues that \u201cthe contours of the Communist Party\u2019s masterplan for its technology industry are emerging.\u201d The answer: The country aims to become a \u201ctechno-utopia\u201d \u2014 with a ton of state control and much thinner margins for the private sector.<\/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>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>WARNING- Companies are going to dock your wages if you WFH. <\/strong>Case in point: Google employees who work from home could be paid less than folks who commute into the office, <a href=\"https:\/\/www.reuters.com\/world\/the-great-reboot\/pay-cut-google-employees-who-work-home-could-lose-money-2021-08-10\/\">Reuters<\/a> reports in an exclusive.<\/p>\n<p><strong>Is it rank socialism or, frankly, justice? <\/strong>Publicly traded corporate mega-landlords in Berlin with more than 3k apartments each could see their properties confiscated if a local referendum passes next month. The landlords are accused of \u201csqueezing out lower income, long-term residents through shoddy maintenance and jacked-up rents\u201d and could now see as many as 240k units taken over by the state. The <a href=\"https:\/\/www.ft.com\/content\/ad96da11-d012-440a-b1d9-05718aac47a5\">Financial Times<\/a> suggests that a majority of Berlin voters \u2014 more than half of whom are renters \u2014 support the measure, which would force the companies to sell their units to the city government at a fair price.<\/p>\n<p><strong>Are we the only ones gnashing our teeth that Stranger Things won\u2019t be back until 2022? <\/strong>Or willing to complain loudly that the latest \u201csneak peek\u201d (which confirmed that season four won\u2019t air until next year) left us \u2026 unfulfilled? <a href=\"https:\/\/www.youtube.com\/watch?v=gM5OVZtq8xM\">Watch and decide for yourself, runtime: 0:30.<\/a><\/p>\n<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Gold bugs, delight: Naguib \u2014 who has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b65943c0-3188-4aee-8b65-4ed39716e7fc\">absolutely no vested interest<\/a><\/strong><strong> in the price of the <\/strong><strong>precious metal \u2014 thinks gold should account for 20-30% of everyone\u2019s portfolio<\/strong>, CNBC reports after interviewing the celebrity bn\u2019aire on Capital Connection. \u201cLet\u2019s say the inflation comes in and there is a crash in the stock market for any reason or the other, you know, then you will be very happy that \u2026 you have a position in gold.\u201d <strong>Does that mean Naguib is waiting for the market to crash? Kinda. <\/strong>\u201cHe said prices have been high for a \u2018very long while\u2019 and will \u2018inevitably\u2019 fall at some point,\u201d adding that global \u201cpolitical uncertainties \u2026 and the \u2018never ending saga\u2019\u201d of covid are keeping him up at night.\u201d<\/p>\n<p><strong>You know who else is being kept up at night by covid? <\/strong><a href=\"https:\/\/www.washingtonpost.com\/education\/schools-start-in-person-pandemic-masks\/2021\/08\/09\/29e7fb6c-f8b4-11eb-9c0e-97e29906a970_story.html\">Schools in the west<\/a> and the corporate world \u2026 everywhere? Amazon is the latest to join the ranks of major corporates who are <a href=\"https:\/\/www.wsj.com\/articles\/amazon-delays-return-to-office-to-2022-amid-renewed-covid-19-surge-11628182141\">delaying their return to the office<\/a> from fall to \u2014 in the Everything Store\u2019s case \u2014 2022.<\/p>\n<p><strong>Lionel Messi is very close to becoming a PSG player:<\/strong> In potentially the most significant transfer of the century so far, Barcelona legend Lionel Messi will join Paris St. Germain on a two-year contract worth EUR 35 mn a year, according to <a href=\"https:\/\/apnews.com\/article\/soccer-sports-europe-la-liga-ligue-1-d40ab9e8f8379f8819f8591d97a8a97a\">the Associated Press<\/a>. The 34-year-old Argentinian has finalized his contract with the French club and is today flying to Paris to seal the move, the newswire says.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT- <\/strong>(all times CLT)<\/p>\n<p><strong>What happens on a yacht stays on a yacht \u2026 unless you\u2019re watching <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81228402\">Below Deck<\/a><\/strong><strong>.<\/strong> Next up in our reality TV week is a show that follows the crews of massive yachts that are home to some of the biggest and most scandalous parties and events \u2014 or just a bn\u2019aire going on a marine adventure. The guests expect every cent of what they\u2019re paying to be worth it, with some of the most random and over-the-top requests to the crew that they have to follow through on. The show also keeps an eye on the dynamics between crew members, with workplace romances popping up every once in a while. Every episode features a new group of passengers, a new destination, and new drama.<\/p>\n<p>\u26bd <strong>El Zamalek are playing Al Ittihad at 9pm today in the Egyptian Premier League. <\/strong>Earlier on in the day at 7pm, Misr Lel Mekassa is going up against Ceramica Cleopatra while Ghazl El Mahalla play Wadi Degla.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>From the heart of Beirut to Cairo: <\/strong><a href=\"https:\/\/instagram.com\/lorisegypt?utm_medium=copy_link\">Loris<\/a> first opened in 2015 on the gorgeous Pasteur Street in Beirut. Today, Raya Restaurants has brought Loris to our neck of the woods, introducing the brand to Sheikh Zayed\u2019s Galleria40. The restaurant is a great place for family gatherings and business meetings (as long as they\u2019re back on our calendars), whether that\u2019s for dinner, breakfast or happy hour. The menu has the Lebanese savory dishes and flavorful desserts we all love. Although we usually start with savory, at Loris their sweet goulash bel gebna is king. Otherwise, go for a platters with a variety of grilled meats and sausages as well as shawarma. Of course we don\u2019t need to tell you the importance of mezzet at a Lebanese restaurant \u2014 we often have to stop ourselves from just going for fattoush, sawda djej, hummus, and makanek and calling it a full meal.<\/p>\n<p><strong>Raya Restaurants plans to invest EGP 50 mn in the F&B sector over the next five years. <\/strong>The company\u2019s brand portfolio also includes Ovio, the Lebanese Bakery, and Jones the Grocer, according to a <a href=\"https:\/\/ent.news\/2021\/8\/Loris-Raya-Press-Release.pdf\">press release (pdf)<\/a>.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Nour Khan & Tafaqum<\/strong> are part of The Room New Cairo\u2019s <a href=\"https:\/\/www.facebook.com\/events\/s\/nour-khan-tafaqum-live-at-room\/256535142650480\/\">acoustic music night<\/a> today at 9pm.<\/p>\n<p><strong>Underground rock band Massar Egbari <\/strong><a href=\"https:\/\/www.facebook.com\/events\/s\/%D9%85%D8%B3%D8%A7%D8%B1-%D8%A7%D8%AC%D8%A8%D8%A7%D8%B1%D9%8A-%D9%81%D9%8A-%D8%AF%D8%A7%D8%B1-%D8%A7%D9%84%D8%A7%D9%88%D8%A8%D8%B1%D8%A7-%D8%A7%D9%84%D9%85\/1410819835967327\/\">are performing<\/a> at the Cairo Opera House tomorrow at 8pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>Microsoft\u2019s Satya Nadella is a big fan of this book:<\/strong> <a href=\"https:\/\/www.amazon.com\/Competing-Age-AI-Leadership-Algorithms-ebook\/dp\/B07MWCTNSD\">Competing in the Age of AI: Strategy and<\/a><a href=\"https:\/\/www.amazon.com\/Competing-Age-AI-Leadership-Algorithms-ebook\/dp\/B07MWCTNSD\">Leadership When Algorithms and Networks Run the World<\/a> looks at how AI-centric businesses have introduced a new \u201coperating architecture\u201d (?) redefining how they \u201ccreate, capture, share, and deliver value.\u201d Authors Marco Iansiti and Karim R. Lakhani argue that AI is more scalable, posing theoretical scenarios of what would happen if large firms, such as Ikea, decided to adopt AI. The book looks at what AI has become and what it potentially could become in well-versed and detailed explanations that call for rethinking business and operating models. This transition is not without risks, and tech business leaders have a new scope of responsibilities and ethics to keep in mind as they further encompass the digital age.<\/p>\n<hr class=\"grey-line\" \/>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>More 41\u00b0C weather in the coming three days for those of us stuck in the capital city, with the mercury set to fall to 25-26\u00b0C at night, according to our favorite weather app. It\u2019s much cooler in Sahel, with daytime high tomorrow of 33\u00b0C and an overnight low of 24\u00b0C.<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/work-from-home\/\">Work from home<\/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=\"564127\" 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 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data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img 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-p96e2hb\" data-v=\"4\" data-block-id=\"p96e2hb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-p96e2hb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/inflation-hits-2021-high-but-still-rises-below-expectations\/\">\r\n                            Inflation hits 2021 high but still rises below expectations                        <\/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\/08\/10\/inflation-hits-2021-high-but-still-rises-below-expectations\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"564129\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/inflation-hits-2021-high-but-still-rises-below-expectations\/401-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/401.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"401.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/401.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/401.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564128\" class=\"content-area-description single-story post-564128 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-economy tag-capmas tag-economy tag-electricity tag-enterprisepm tag-fuel tag-inflation tag-interest-rates tag-subsidies wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Annual urban inflation <\/strong><strong>accelerated in July <\/strong>on the back of rising energy and food prices, according to official figures from state statistics body Capmas. The headline urban rate climbed to 5.4%, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbe1f778-c531-4f1d-869e-7bc2c2b06833\">4.9%<\/a> in June, as the government hiked <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf297186-02db-44bd-9f47-ac1b4e8b9a52\">fuel<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8524ce4-c8d0-4b1d-b450-a125c9879398\">electricity<\/a> costs. Headline prices rose 0.9% on a monthly basis, compared with a 0.2% rise in June.<\/p>\n<p><strong>Housing and utilities prices accelerated to 4.1% annually<\/strong> and 2.4% from June in response to the higher energy costs. Food and beverage prices, the largest component in the basket of goods, rose 4.8% on an annual basis, and 0.5% on a monthly basis, while tobacco increased 2.9% after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f40e85f-6132-4035-a552-9b35ce8f655e\">prices were hiked<\/a> at the beginning of the new fiscal year. Transport (6.6%, and recreational and cultural activities (12%) also became more expensive in July.<\/p>\n<p><strong>This is the highest headline inflation rate recorded since the start of the year<\/strong> \u2014 and marks the first time since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d516919-c014-4ca0-80eb-af55172d83bd\">January 2020<\/a> that inflation has risen into the CBE\u2019s target range, which currently stands at 7% (\u00b12%) on average by the fourth quarter of 2022.<\/p>\n<p><strong>Overall annual inflation shot up to 6.1% as it continued to pull away from the urban rate<\/strong>, up from 5.3% in June, rising 1% on a monthly basis in comparison with 0.3% in June.<\/p>\n<p><strong>Core inflation at near two-year high:<\/strong> Annual core inflation rose to its highest level since <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/11\/egypts-headline-inflation-falls-to-six-and-a-half-year-lows-in-august\/\">August 2019<\/a>, accelerating to 4.6% in July from 3.8% the month prior, <a href=\"https:\/\/ent.news\/2021\/8\/CPI-Press-Release-July-2021.pdf\">central bank figures (pdf)<\/a> show. Monthly core prices rose to 0.6% from -0.1% in June. Core inflation strips out volatile items such as food and fuel.<\/p>\n<p><strong>The headline figure c<\/strong><strong>ame below analysts\u2019 expectations despite rising for the third month running.<\/strong> The rise came in below Beltone Financial\u2019s expectation of a 6% increase, and Pharos\u2019 5.6% forecast.<\/p>\n<p><strong>Prices will likely keep on pushing up:<\/strong> Inflation will continue to gain momentum in the second half of the year \u201cas the rise in global commodity prices starts to reflect gradually in the domestic market coupled with base effect,\u201d Beltone\u2019s chief economist Alia Mamdouh wrote in a note this morning. Her statement was echoed by EFG Hermes\u2019 head of macroeconomic research Mohamed Abu Basha, who told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-10\/egypt-consumer-prices-rise-at-fastest-rate-since-december?sref=mmeFTDW1\">Bloomberg<\/a> that \u201cminor inflationary pressure remains on the cards.\u201d Expectations are that late July\u2019s hike in fuel prices will show in August\u2019s numbers, while analysts are also braced for the impact of any potential rise in the price of subsidized <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cff5080b-b5e6-4d57-8920-c15466348892\">bread<\/a>.<\/p>\n<p><strong>Central bank to hold rates through 2021?<\/strong> The chances are that the central bank will continue to keep interest rates on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/ba579394-6c27-4f64-9589-98787b1acc42\">hold<\/a> at its next meeting in September, Mamdouh wrote, citing the need to maintain Egypt\u2019s high real rates as other emerging markets tighten policy. Meanwhile, Abu Basha said that the central bank may leave rates unchanged for the rest of the year. Prime Holdings and Renaissance Capital are also predicting rates to stay the same until 2022. The CBE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a5489a2-5819-4461-830b-c85a52b4fe78\">left rates on hold<\/a> for a sixth straight meeting last week, meaning the overnight and lending rates will remain at 8.25% and 9.25% respectively until at least September.<\/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\/capmas\/\">CAPMAS<\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"564130\" 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=\"564130\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/egypt-uae-to-set-up-jv-for-manufacturing-dual-fuel-trucks\/\">\r\n                            Egypt, UAE to set up JV for manufacturing dual-fuel trucks                        <\/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\/08\/10\/egypt-uae-to-set-up-jv-for-manufacturing-dual-fuel-trucks\/\" 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 Military Production Ministry will produce the vehicles with M Glory Holding, which specializes in integrating advanced technologies into manufacturing and industrial processes. The JV will be known as Egyptian Emirates Automotive Company and the trucks will sell under the name \u201cEM.\u201d<\/p>\n<p><strong>The JV<\/strong><strong> will begin assembly in the first half of 2022<\/strong> and aim to produce 12k vehicles each year, some of which will be exported to other African countries. That\u2019s about 32% of total sales in the truck market in 2020, according to figures from industry association AMIC.<\/p>\n<p><strong>Anoth<\/strong><strong>er part of the government\u2019s natgas transition plan: <\/strong>In a renewed push to power more of the nation\u2019s vehicles with natural gas, the government this year began rolling out a plan that it hopes will see as many as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35e33c41-388d-49c0-9bcc-5fc5772c6569\">450k cars<\/a> outfitted with dual-fuel engines by 2024, as well as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a946047f-ec53-4300-942f-165509dbcc68\">15k microbuses<\/a> during its first year. The scheme \u2014 which provides financial incentives to vehicle owners to either convert their engines or swap their vehicles to run on natural gas \u2014 is also expected to be extended to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">tuk-tuks<\/a>. The government is working to expand the country\u2019s natgas refueling infrastructure and plans to have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d383c65-dda0-4b36-8860-c82fa7b99e0d\">1k natural gas filling stations<\/a> set up nationwide by the end of this year.<\/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\/oil-and-gas\/\">oil and gas<\/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=\"564132\" 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=\"564132\">\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\/08\/10\/nbk-egypt-a-step-closer-to-delisting-telecom-egypt-making-bank\/\">\r\n                            NBK Egypt a step closer to delisting, Telecom Egypt making bank                        <\/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\/08\/10\/nbk-egypt-a-step-closer-to-delisting-telecom-egypt-making-bank\/\" 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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Prime Capital has been appointed as a financial advisor to value the subsidiary, which it will present to shareholders at an extraordinary general assembly meeting. A final decision will be taken three months afterwards.<\/p>\n<p><strong>This is not bad news for the EGX:<\/strong> The bank\u2019s shares are rather illiquid, with less than 80k of them changing hands today, according to Reuters data. By comparison, 1.2 mn shares of CIB, 710k shares of EFG Hermes and 315k shares of Edita were bought and sold today. Retail darling Qalaa Holding saw some 6 mn shares change hands today.<\/p>\n<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>EARNINGS WATCH- State-owned Telecom Egypt\u2019s (TE) bottom line more than <\/strong><strong>doubled to EGP 1.75 bn in 2Q2021<\/strong>, compared to EGP 748.4 mn the same period last year, according to the telecom operator\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/EAS_Consolidated_Statementa6673fe7-96ef-43b1-b883-e83bc2a0f281.pdf\">financial<\/a><a href=\"https:\/\/ent.news\/2021\/8\/EAS_Consolidated_Statementa6673fe7-96ef-43b1-b883-e83bc2a0f281.pdf\">results<\/a><a href=\"https:\/\/ent.news\/2021\/8\/EAS_Consolidated_Statementa6673fe7-96ef-43b1-b883-e83bc2a0f281.pdf\">(pdf)<\/a>. The company <a href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/146\/Q2-2021-results-Operating-cash-flow-doubles-on-strong-fundamentals\">attributed<\/a> the profit growth to a rise in investment income from Vodafone Egypt, in which it holds a 45% stake, and FX gains. Revenues also rose to EGP 8.97 bn in 2Q2021 from EGP 7.94 bn in the same quarter of 2020. TE said it received EGP 3.6 bn in income from Vodafone in July. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/telecom-egypt-posts-h1-net-profit-39-bln-egyptian-pounds-revenue-up-16-2021-08-10\/\">Reuters<\/a>took note of the figures.<\/p>\n<p><strong>Raya Contact Center\u2019s bottom line fell 25% to EGP 7.71 mn in 2Q2021<\/strong>, from EGP 10.35 mn in 2Q2020, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Raya-Contact-Center-1H-Consolidated-Results.pdf\">financial results (pdf)<\/a>. Revenues were essentially flat, coming in at EGP 193.7 mn compared to EGP 192.3 mn in the same period of 2020.<\/p>\n<p><strong>Transport player Egytrans saw its bottom line decline to EGP 6.4 mn in 1H2021<\/strong>, compared to EGP 9.6 mn in 1H2020, based on the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Egytrans-1H-profits.pdf\">financial results (pdf)<\/a>. Revenues rose to EGP 123.5 mn in 1H2021 from EGP 101.4 mn during the first six months of 2020.<\/p>\n<p><strong>Sidpec continues to recover from last year\u2019s turmoil: <\/strong>Sidi Kerir Petrochemicals (Sidpec) announced a bottom line of EGP 283 mn in 1H2021, against losses of EGP 28 mn during the same half a year earlier, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Sidi-Kerir-Financial-Results.pdf\">financial results (pdf)<\/a>. Revenues jumped almost 60% to EGP 2.67 bn in 1H2021, compared to EGP 1.67 bn last year.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>MARKET WATCH- <\/strong><\/p>\n<p><strong>The EGX30 rose 0.5% at today\u2019s close<\/strong> on turnover of EGP 1.91 bn (31.4% above the 90-day average). Foreign investors were net buyers. The index is up 0.1% YTD.<\/p>\n<p><strong>In the green: <\/strong>Egyptian Resorts Company (+3.4%), Heliopolis Housing (+2.7%) and TMG Holding (+1.8%).<\/p>\n<p><strong>In the red: <\/strong>Sidi Kerir Petrochemicals (-6.4%), Ezz Steel (-3.5%) and Orascom Development Egypt (-2.9%).<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egytrans\/\">EgyTrans<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nbk-egypt\/\">NBK Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-contact-center\/\">Raya Contact Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/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=\"564133\" 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=\"564133\">\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\">Analyst of the Week<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/\">\r\n                            Meet our analyst of the week: Prime Holding\u2019s Mohamed Saad                        <\/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\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/\" 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\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/')\">\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\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/\">\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=Meet our analyst of the week: Prime Holding\u2019s Mohamed Saad&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/\">\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\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/&title=Meet our analyst of the week: Prime Holding\u2019s Mohamed Saad\">\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=Meet+our+analyst+of+the+week%3A+Prime+Holding%E2%80%99s+Mohamed+Saad+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F10%2Fmeet-our-analyst-of-the-week-prime-holdings-mohamed-saad%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\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/408.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564134\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/meet-our-analyst-of-the-week-prime-holdings-mohamed-saad\/408-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/408.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"408.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/408.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/408.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564133\" class=\"content-area-description single-story post-564133 post type-post status-publish format-standard has-post-thumbnail hentry category-analyst-of-the-week tag-analyst-of-the-week tag-capital-markets tag-cit tag-earnings tag-egx tag-egytrans tag-enterprisepm tag-national-bank-of-kuwait tag-prime-holding tag-raya-contact-center tag-raya-holding tag-sidi-kerir-petrochemicals tag-telecom-egypt tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>OUR ANALYST OF THE WEEK-<\/strong> Mohamed Saad, senior equity research analyst at Prime Holding (<a href=\"https:\/\/www.linkedin.com\/in\/mohamedsaad-1\/?originalSubdomain=eg\">LinkedIn<\/a>).<\/p>\n<p><strong>My name is Mohamed Saad and I\u2019m a senior equity analyst at Prime Securities. <\/strong>When I first started my career I worked as an equity trader at Naeem Holding and then as a business development executive at Future Group. Both positions weren\u2019t for me as I was very interested in the stock market and wanted to delve deeper into the field. I applied to Mubasher and Amr Elalfy took the risk of hiring me and I\u2019ve worked as an analyst ever since. I joined Shuaa Capital afterwards and then moved to Prime Securities where I am now.<\/p>\n<p><strong>I now cover industrials in Egypt, but I started off covering banking and NBFS.<\/strong> I think banking is one of the best sectors for a beginner as it's very stable and depends on economics more than anything. When I went into industrials I was a little shaky at first, but getting out of my comfort zone proved advantageous and I\u2019ve learned a lot through the process.<\/p>\n<p><strong>The best part of my job is that it doesn\u2019t have a textbook. <\/strong>Every day is different and you have to constantly adapt to new events or circumstances. In my case that involves reading a ton to always stay up to date. I\u2019d say my day is divided into 40% reading, 30% writing, and the rest is miscellaneous [laughs].<\/p>\n<p><strong>The worst part of the job is that you can be proved wrong at any point.<\/strong> You can try to forecast the future, but sometimes one small variable can defy expectations or an unexpected variable can take the world by storm \u2026 such as the pandemic. I still get frustrated sometimes but I tell myself that it\u2019s a learning curve and no one can be expected to get everything right.<\/p>\n<p><strong>WFH was challenging for me as it blurred the lines between my job and personal life.<\/strong> I found myself working 24\/7 at one point because there wasn\u2019t that physical barrier to let me know I was done with my job for the day. I\u2019m also a person who takes time to wake up fully, so when I was going from my bed to the laptop right away it just wasn\u2019t productive. We\u2019re now working on a rotational system which is a big improvement, but personally I would opt for the in-office work every day.<\/p>\n<p><strong>My theory of investment is to ensure you\u2019re an insider in whatever investment you choose.<\/strong> You really need to know the ins and outs, the industry trajectory, and the country forecasts for every stock you choose. When you can speak confidently about the investment and explain your reasoning behind it well, only then should you put your money where your mouth is.<\/p>\n<p><strong>Commodities are the investment of the season.<\/strong> I think the commodities boom will continue until at least 2022 as they were big beneficiaries from the aftermath of the pandemic. It will take time for supply to reach the level of demand needed for a correction, so there\u2019s still a lot of upside potential in the coming period. Fertilizers in particular are an undiscovered gem.<\/p>\n<p><strong>The most important factors I look at before recommending an investment are the valuation gap and the liquidity of a stock.<\/strong> The valuation gap is essential as it gives you an indication of whether the stock has room to grow, but it also goes hand-in-hand with liquidity to ensure that it will actually be easy to trade hands.<\/p>\n<p><strong>2021 will be the year of recovery, but not the year of Egypt.<\/strong> That time will come when there\u2019s a full recovery from the pandemic and we\u2019re not still suffering from things such as decreased purchasing power. However, we\u2019re currently at a good starting point and I think the next couple of years will propel us forward.<\/p>\n<p><strong>If I had to cover another industry I would go for real estate.<\/strong> It\u2019s something I have little experience with so I\u2019d like to get acquainted with it and understand its dynamics a bit better.<\/p>\n<p><strong>If I had to change jobs altogether, I would go into private equity.<\/strong> In research, analysts say what they think should happen, but in private equity, you get to contribute to the decision-making process which I think is more empowering.<\/p>\n<p><strong>The last great thing I watched is <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt5114356\/\">Legion<\/a><\/strong><strong> \u2014<\/strong> which is based on the Marvel comic. It\u2019s very well-crafted and interesting, and could tempt me to get into the rest of the Marvel cinematic universe.<\/p>\n<p><strong>The last great thing I read is the written play <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/6120064\">El Kherog Men El Gana<\/a><\/strong><strong> by Tawfiq Al Hakim.<\/strong> I\u2019ve been a fan of his since childhood so reading the play was quite nostalgic for me. It\u2019s hard to keep up the habit of reading alongside work, but I try and get through one book every month.<\/p>\n<p><strong>In my downtime I like to play chess.<\/strong> I\u2019ve had that hobby before the Queen\u2019s Gambit trend [laughs]. But that doesn\u2019t take away from the fact that it was a really good show. I\u2019m a bit of an overthinker so chess helps me release the excess thinking in something abstract \u2026 it's quite therapeutic in that sense. Other than that I watch football. I\u2019m a big fan of Al Ahly and AC Milan.<\/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\/analyst-of-the-week\/\">analyst of the week<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n          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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"564135\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564136\" 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\/08\/10\/your-essential-business-calendar-on-10-august-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564136\" class=\"content-area-description single-story post-564136 post type-post status-publish format-standard hentry category-calendar tag-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>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>26-28 August (Thursday-Saturday): <a href=\"https:\/\/www.kansascityfed.org\/research\/jackson-hole-economic-symposium\/\">Jackson Hole Economic Symposium<\/a>.<\/p>\n<p>September: Delegation of Russian companies to visit Russian Industrial Zone.<\/p>\n<p>1-3 September (Wednesday-Friday): <a href=\"https:\/\/digisignafrica.com\/\">Digi Sign Africa<\/a>, Cairo International Convention Centre, Cairo, Egypt. <sup><\/sup><\/p>\n<p>2 September (Thursday): The new EGX mechanism for calculating closing share prices will come into effect.<\/p>\n<p>3-5 September (Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>5-7 September (Sunday-Tuesday): The <a href=\"https:\/\/www.arabsecurityconference.com\/\">Arab Security Conference<\/a>, The Nile Ritz-Carlton, Cairo, Egypt. <sup><\/sup><\/p>\n<p>7-8 September (Tuesday-Wednesday): Euromoney Conferences will host <a href=\"https:\/\/bit.ly\/3lpLeUO\">the GlobalCapital Sustainable and Responsible Capital Markets Forum 2021<\/a>, featuring Vice Minister of Finance Minister Ahmed Kouchouk.<\/p>\n<p>7-9 September (Tuesday-Thursday): <a href=\"https:\/\/www.egyhealthexpo.com\/\">Egy Health Expo<\/a>, Al Manara International Conference, Cairo, Egypt. <sup><\/sup><\/p>\n<p>9 September (Thursday): <a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a> is being organized by ITIDA and the Software Engineering Competence Center in cooperation with DXC Technology, IBM Egypt and Orange Labs.<sup><\/sup><\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>22-25 September (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt<\/a>, Egypt International Exhibition Center, Cairo, Egypt. <sup><\/sup><\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>October: New legislative session begins.<\/p>\n<p>1 October (Friday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>31 October - 12 November (Sunday-Friday): The 26th UN Climate Change Conference, Glasgow, UK.<\/p>\n<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>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<sup><\/sup><\/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>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/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":564125,"template":"","categories":[],"tags":[],"class_list":["post-564124","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6be39ca2-07bb-4350-bf9b-f85420e828e7","teaser":"","photo_url":"https:\/\/ent.news\/2021\/8\/398.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 accelerated in July \u2014 but not as much as analysts had expected it to - 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-accelerated-in-july-but-not-as-much-as-analysts-had-expected-it-to\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Annual urban inflation accelerated in July \u2014 but not as much as analysts had expected it to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/annual-urban-inflation-accelerated-in-july-but-not-as-much-as-analysts-had-expected-it-to\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:23:40+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/398.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-accelerated-in-july-but-not-as-much-as-analysts-had-expected-it-to\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/annual-urban-inflation-accelerated-in-july-but-not-as-much-as-analysts-had-expected-it-to\/\",\"name\":\"Annual urban inflation accelerated in July \u2014 but not as much as analysts had expected it to - 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