{"id":564164,"date":"2021-08-15T13:49:37","date_gmt":"2021-08-15T13:49:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=564164"},"modified":"2025-12-16T04:24:42","modified_gmt":"2025-12-16T04:24:42","slug":"enterprise-the-egx30-index-closed-todays-session-1-3-in-the-green-on-the-back-of-a-strong-earnings-season","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx30-index-closed-todays-session-1-3-in-the-green-on-the-back-of-a-strong-earnings-season\/","title":{"rendered":"Enterprise The EGX30 index closed today\u2019s session 1.3% in the green on the back of a strong earnings season."},"content":{"rendered":"<section id=\"564166\" 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=\"564166\">\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\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/\">\r\n                            TONIGHT: A good start to the EGX this week + Kabul could fall any minute. Int\u2019l football kicks off, so, let these sports documentaries get you in the mood.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/')\">\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\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/\">\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=TONIGHT: A good start to the EGX this week + Kabul could fall any minute. Int\u2019l football kicks off, so, let these sports documentaries get you in the mood.&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/\">\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\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/&title=TONIGHT: A good start to the EGX this week + Kabul could fall any minute. Int\u2019l football kicks off, so, let these sports documentaries get you in the mood.\">\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=TONIGHT%3A+A+good+start+to+the+EGX+this+week+%2B+Kabul+could+fall+any+minute.+Int%E2%80%99l+football+kicks+off%2C+so%2C+let+these+sports+documentaries+get+you+in+the+mood.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F15%2Ftonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood%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\/15\/tonight-a-good-start-to-the-egx-this-week-kabul-could-fall-any-minute-intl-football-kicks-off-so-let-these-sports-documentaries-get-you-in-the-mood\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564166\" class=\"content-area-description single-story post-564166 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-afghanistan tag-egx tag-enterprisepm tag-netflix tag-sports tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, ladies and gents<\/strong> \u2014 and welcome to the start of another week. We have a fairly packed issue for you to kick off the week, starting with the news that we\u2019re about to receive another USD 282 mn from the Arab Monetary Fund as part of its USD 639 mn loan approved last year to help us follow through on our economic and fiscal reform program.<\/p>\n<p><strong>Tycoon is well on its way to acquiring a 90% stake in Alexandria National Company for Financial Investment (ANFI)<\/strong> after the Abu Dhabi Islamic Bank Egypt agreed to sell its 85% stake in the firm.<\/p>\n<p><strong>We also have news that microlender Tasaheel has become the first company to be awarded a microleasing license<\/strong> from the Financial Regulatory Authority \u2014 a move that will open up leasing facilities to smaller businesses that don\u2019t enjoy access to finance provided by conventional non-bank lenders.<\/p>\n<p><strong>STAY TUNED- 2Q unemployment figures dropped this morning<\/strong> \u2014 and they\u2019re virtually unchanged from the first quarter. We\u2019ll have the full story for you in tomorrow\u2019s EnterpriseAM.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> THE BIG STORY TODAY- It was a good day on the EGX:<\/strong> The EGX30 index closed today\u2019s session 1.3% in the green, leaving the benchmark index up 1.7% since the start of the year. Index heavyweight CIB rose 3% during trading while Speed Medical was the strongest performer, up 4.6%.<\/p>\n<p><strong>A major turnaround, helped by a strong earnings season:<\/strong> \u201cEgyptian stocks, until a few weeks back, were significantly underperforming compared to other regional and global indices,\u201d Naeem Brokerage\u2019s Allen Sandeep wrote in an email picked up by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-15\/mideast-stocks-gain-as-egypt-extends-winning-streak-inside-em?sref=mmeFTDW1\">Bloomberg<\/a>. \u201cWhat we are seeing right now is the narrowing of that spread amid good incoming 2Q results across the board.\u201d<\/p>\n<p><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>IPO Watch:<\/strong> Mass transportation startup Swvl and state-owned Administrative Capital for Urban Development <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f63d3ff5-2693-4e97-94c7-b4638ef57a75\">could both go public on the EGX<\/a> by 2023.<\/li>\n<li><strong>M&A Watch:<\/strong> The Coca-Cola Hellenic Bottling Company has agreed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4aa5c8a6-4089-42cb-a442-f739179ba4c5\">purchase almost 95% of Coca-Cola Bottling Company of Egypt<\/a> for around USD 427 mn.<\/li>\n<li><strong>More green bonds?<\/strong> Banque Misr could soon be following the likes of CIB and the Finance Ministry by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5af16462-48a9-4852-a2f3-00d02f132747\">issuing green bonds to investors<\/a>, according to Vice Chairman Akef El Maghraby.<\/li>\n<\/ul>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>THE BIG STORY ABROAD-<\/strong> <strong>A d\u00e9j\u00e0 vu of Saigon:<\/strong> Taliban forces have <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/us-troops-arrive-afghan-capital-assist-evacuations-2021-08-14\/\">entered<\/a>Afghanistan\u2019s capital, Kabul, as key strategic areas in the country continue to topple to the Islamist militant group with alarming speed. Afghan forces appear to have crumbled in the face of the Taliban\u2019s rapid advance, while Western officials and diplomats in the country were equally <a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/08\/15\/afghanistan-taliban-kabul-embassy-jalalabad\/\">blindsided<\/a>. American diplomats were evacuated from the Kabul embassy by helicopter today, just days after US intelligence sources were cited as <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/taliban-fighters-capture-eighth-provincial-capital-six-days-2021-08-11\/\">saying<\/a>they expected the capital to hold out against an attack for another three months. Meanwhile, options are <a href=\"https:\/\/www.wsj.com\/articles\/afghans-despair-over-long-visa-process-as-taliban-close-in-on-kabul-11628890085\">dwindling<\/a>for the tens of thousands of Afghans seeking refuge from the Taliban, many of whom fled their homes to Kabul in the past week.<\/p>\n<p><strong>Making headlines regionally is a fuel tank explosion that left at least 20 dead in Lebanon<\/strong> and 79 injured in the northern region of Akkar Lebanon, the Lebanese Red Cross <a href=\"https:\/\/twitter.com\/RedCrossLebanon\/status\/1426751589730201603?s=20\">tweeted<\/a>. The exact reason for the fuel tank blast is still not known, but it happened in an area of illicitly stored fuel that residents had discovered earlier. This comes as the country suffers from severe fuel shortages that would push hospitals to face forced shutdowns. <strong>The story is getting digital ink in the global press:<\/strong> <a href=\"https:\/\/www.ft.com\/content\/2ab6e084-548f-4abc-af97-4a77fa3291f4\">FT<\/a> I <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-15\/lebanon-fuel-tank-explosion-kills-at-least-20-red-cross-says?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> I <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/least-20-killed-lebanon-fuel-tank-explosion-mtv-news-2021-08-15\/\">Reuters<\/a> I the <a href=\"https:\/\/apnews.com\/article\/middle-east-lebanon-beirut-fc3c97212fc6d9ee220d45beafde84a3\">Associated Press<\/a>.<\/p>\n<p><strong>Egypt has pledged to send medical aid to Lebanon<\/strong> as soon as possible to support the crisis-racked country in combating such a disaster, according to a statement by the <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/133792882263900\">Foreign Ministry<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>HAPPENING THIS WEEK-<\/strong><\/p>\n<p><strong>Japanese foreign minister Toshimitsu Motegi is in town this week<\/strong> as part of a tour that will take him to six countries in the region over the next 10 days, the country\u2019s foreign ministry <a href=\"https:\/\/www.mofa.go.jp\/me_a\/me1\/page3e_001129.html#section1\">said<\/a>. The minister will <a href=\"https:\/\/asia.nikkei.com\/Politics\/International-relations\/Japan-foreign-minister-heads-to-Mideast-to-talk-security-Afghanistan\">discuss security issues<\/a> and the region\u2019s responses to the pandemic. It remains unclear when Motegi will land in Egypt.<\/p>\n<p><strong>IN GLOBAL MARKETS- Delta variant has replaced inflation as the current market boogeyman:<\/strong> So says HSBC, which said last week that the fall in treasury yields suggests that investors are no longer as concerned about rising inflation and are now paying more attention to the spread of the delta covid variant, according to <a href=\"https:\/\/www.cnbc.com\/2021\/08\/13\/hsbc-markets-no-longer-fear-inflation-stocks-will-continue-to-rally.html\">CNBC<\/a>. Investors have voiced increasing concerns over US inflation, which is currently running at its highest level since mid-2008, but the slow decline in yields since April may be evidence that attention is now returning to covid, the bank\u2019s wealth management unit said on Thursday. Treasury yields tend to rise in response to higher inflation as investors price in the increased likelihood of interest rate hikes.<\/p>\n<p><strong>US consumer confidence just fell the most since the global financial crisis.<\/strong> Bond yields fell last week after a survey showed US consumer confidence having its worst two-week spell since the height of the global financial crisis in October 2008. The University of Michigan\u2019s <a href=\"http:\/\/www.sca.isr.umich.edu\/\">Consumer Sentiment Index<\/a> plunged 13.5% during the first two weeks of August in what it described as a \u201cstunning loss of confidence,\u201d causing investors to buy into safer assets such as US treasuries and gold, <a href=\"https:\/\/www.ft.com\/content\/cdad3914-f0e2-4b1d-b85f-baa044c09a72\">the FT<\/a> says.<\/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><strong>Clothes made from recycled plastic are now in fashion: <\/strong>From sneakers to swimsuits, recycled plastics are increasingly being used by the likes of Nike and Adidas as a means of sustainably producing fashion wear while recycling harmful waste, <a href=\"https:\/\/www.ft.com\/content\/dcabfbe1-c14b-4e97-b3e5-1963a781dab1\">The Financial Times reports<\/a>. And the timing is right, as the price of recycled plastic appears to have fallen to the point where these big name brands will expand their use.<\/p>\n<p><strong>But does this actually help the environment? <\/strong>In some ways, yes. Recycled polyester emits 70% less greenhouse gasses when compared to virgin plastic, according to the NGO <a href=\"https:\/\/textileexchange.org\/2025-recycled-polyester-challenge\/\">Textile Exchange<\/a>. <strong>There\u2019s a catch:<\/strong> Recycled plastics are more likely to release microplastics when washed, thus polluting the water system.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>With the int\u2019l football leagues coming back, we thought this week could be all about <\/strong><strong>sports documentaries.<\/strong> That being said, it would only make sense to start with one of football\u2019s greats and someone who has been in the spotlight in the past few weeks\u2026 Lionel Messi. The 2014 documentary <a href=\"https:\/\/www.amazon.com\/Messi-Leo\/dp\/B07B11QGZC\">Messi<\/a> chronicles the life of the soccer icon, from his youthful small-town feats to his professional triumphs in Spain and Argentina. Through interviews, re-enactments, and on-the-field footage, the story of Messi\u2019s rise to stardom unravels itself. If you\u2019d prefer a shorter take on the footballer\u2019s career, <a href=\"https:\/\/www.youtube.com\/watch?v=X0PI1P9p2O8&feature=youtu.be\">The Story of the GOAT- Lionel Messi<\/a> is available on YouTube as a compilation of Messi\u2019s greatest moments on the field. Meanwhile, many of you might be opposed, but <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81003984?trkid=13747225&s=i\">Barca Dreams<\/a> on Netflix could be worth a watch before it is removed from the platform on 31 August.<\/p>\n<p>\u26bd<strong> It\u2019s the last day of the first Premier League gameweek.<\/strong> Finishing off the week are Newcastle versus West Ham who are currently on the field as we head towards dispatch, while Tottenham and Man City will play at 5:30pm.<\/p>\n<p><strong>And it was a typical showing by all the big clubs in week 1,<\/strong> with Manchester United scoring a comfortable 5-1 against Leeds United, Chelsea winning 3-0 against Crystal Palace, and Liverpool doling out the same to Norwich City.<\/p>\n<p><strong>...The usual exception being, of course, Arsenal,<\/strong> whose amateur coach, lack of action in the transfer market, and poor form of its vets saw it take a 2-0 L against newly promoted side Brentford. Some vocal Arsenal fans (including those in Enterprise) have even expressed taking a break from this Premier League season until Mikel Arteta hits coaching puberty or gets sacked.<\/p>\n<p><strong>In other European leagues, a sans-Messi Barcelona side is playing against Real Sociedad <\/strong><strong>today at 8pm in La Liga<\/strong> for their first game of the season. Sevilla and Rayo Vallecano will compete at 10:15.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong>Hacienda Red has a new burger joint in town and they call it <\/strong><strong><a href=\"https:\/\/www.instagram.com\/bigdaddy.eg\/?utm_medium=copy_link\">Big Daddy<\/a><\/strong><strong>: <\/strong>Let\u2019s admit it\u2026 Sahel sometimes calls for larger-than-average burgers, fries with all the stops, and cheese everywhere. You can blame it on the salty waters making you hungrier than usual. Either way, Big Daddy has you covered. We love their breakfast options such as their bacon egg sandwich, their Italian cheesy egg sandwich, or sriracha egg lovers dish, each with a ton of different cheeses, sauces, and everything else that makes your morning better. For their burgers, you can\u2019t go wrong with their big daddy burger or surf and turf burger (get the matching fries too). Other things worth checking out on the menu are their Mexican hot dogs and churros. Big Daddy delivers to all of Hacienda as well as Telal and Seashell.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Cairo Contemporary Arts Center is holding its <\/strong><strong><a href=\"https:\/\/web.facebook.com\/events\/1713613862180413\/?acontext=%7B%22event_action_history%22%3A[%7B%22surface%22%3A%22external%22%7D%2C%7B%22mechanism%22%3A%22discovery_this_week_tab%22%2C%22surface%22%3A%22bookmark%22%7D]%2C%22ref_notif_type%22%3Anull%7D\">beginner\u2019s bellydance class<\/a><\/strong><strong> from 8:30-10pm today,<\/strong> at EGP 150 for a single class.<\/p>\n<p><strong>Art Square Academy is running <\/strong><strong><a href=\"https:\/\/web.facebook.com\/events\/974777793260166\/?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\">fashion-focused drawing classes<\/a><\/strong><strong> from 10am-1pm, every Monday and Wednesday.<\/strong> The 30-hour course costs EGP 3.5k.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>Read up on the league that has us all glued to the TV every week: <\/strong>Football wasn\u2019t always the commercial powerhouse it is now and <a href=\"https:\/\/www.amazon.com\/Club-English-Premier-Wildest-Disruptive-ebook\/dp\/B07D3KV99B\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">The Club: How the Premier League Became the Richest, Most Disruptive Business in Sport<\/a> shows how in the span of 25 years, PL became synonymous with major football in 185 countries. From Russian oligarchs, Arab Sheikhs, Asian Titans to American Tycoons, battle-hardened managers, ruthless agents and Rupert Murdoch\u2019s media empire, several parties put their hands into creating a league that boasts some of the world\u2019s best players and brings in bns easily.<\/p>\n<p><strong>It\u2019s a story of success that quickly fell into the trap of bottomline over integrity. <\/strong>The book written by Jonathan Clegg and Joshua Robinson was released in 2019 (pre the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/640e283c-3500-4ed7-bec5-72d499953642\">Super League<\/a> debacle) and foreshadows how local fans are being priced out and clubs' local identities are fading. It\u2019s a great book to understand the business, politics, and love behind Premier League and football as a commodity.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- The mercury will finally fall below 40\u00b0C: <\/strong>Expect daytime highs of 39\u00b0C in the capital city and nighttime lows of 25\u00b0C, our favorite weather app tells us. Meanwhile, Sahel is at a nice 32\u00b0C during the day.<\/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\/afghanistan\/\">Afghanistan<\/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\/netflix\/\">Netflix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564167\" 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 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class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-9b6x2m9\" data-v=\"4\" data-block-id=\"9b6x2m9\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9b6x2m9-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9b6x2m9-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            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-34jane0\" data-v=\"4\" data-block-id=\"34jane0\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-34jane0-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-34jane0-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\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <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 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\"\r\n            id=\"564168\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/egypt-receives-second-tranche-of-usd-639-mn-loan-from-arab-monetary-fund\/\">\r\n                            Egypt receives second tranche of USD 639 mn loan from Arab Monetary Fund                        <\/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 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<\/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\/15\/egypt-receives-second-tranche-of-usd-639-mn-loan-from-arab-monetary-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/424.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564169\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/egypt-receives-second-tranche-of-usd-639-mn-loan-from-arab-monetary-fund\/424-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564168\" class=\"content-area-description single-story post-564168 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-economy tag-covid-19 tag-debt tag-economy tag-enterprisepm wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt has unlocked the second tranche of a USD 639 mn loan from the Arab <\/strong><strong>Monetary Fund (AMF)<\/strong> <a href=\"https:\/\/www.amf.org.ae\/en\/content\/arab-monetary-fund-extends-arab-republic-egypt-new-loan-within-framework-structural\">approved in July 2020<\/a> to help the country improve its fiscal position. The regional lender disbursed the second, USD 282 mn payment last week to support the country\u2019s ongoing economic and financial reforms, it <a href=\"https:\/\/www.amf.org.ae\/en\/content\/amf-disburses-arab-republic-egypt-second-tranche-loan-within-framework-structural-adjustment\">said in a statement<\/a> on Thursday<\/p>\n<p><strong>The loan comes under the AMF\u2019s Structural Adjustment Facility<\/strong>, which allocates money to Arab countries that are carrying out structural reforms or are facing liquidity issues due to the pandemic.<\/p>\n<p><strong>There may be more where that came from:<\/strong> Another loan to Egypt may be approved soon, according to the AMF, which said that procedures for granting the new facility \u201cwill be completed shortly.\u201d It is unclear whether the new loan would be disbursed under the Structural Adjustment Facility, with the statement only saying that the money would be used to \u201csupport [Egypt\u2019s] financial position.\u201d<\/p>\n<p><strong>Egypt has also turned to the IMF for support through the pandemic:<\/strong> The IMF has lent Egypt another <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">USD 8 bn<\/a> to help cover a balance of payments shortfall and mitigate the impact of the pandemic on its budget deficit,<\/p>\n<p><strong>The last time the AMF extended a loan to Egypt was back in 2015<\/strong>, when it <a href=\"https:\/\/www.amf.org.ae\/en\/content\/arab-monetary-fund-extends-new-loan-arab-republic-egypt-equivalent-us-339-million-sunday\">lent<\/a> the country some USD 339 mn. Including the most recent facility, the AMF has provided Egypt with a total of 14 loans worth an estimated USD 2.24 bn.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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=\"564170\" 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=\"564170\">\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\">SPEED ROUND: M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/\">\r\n                            Is this ANFI bidding war finally over?                        <\/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\/15\/is-this-anfi-bidding-war-finally-over\/\" 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\/15\/is-this-anfi-bidding-war-finally-over\/')\">\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\/15\/is-this-anfi-bidding-war-finally-over\/\">\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=Is this ANFI bidding war finally over?&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/\">\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\/15\/is-this-anfi-bidding-war-finally-over\/&title=Is this ANFI bidding war finally over?\">\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=Is+this+ANFI+bidding+war+finally+over%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F15%2Fis-this-anfi-bidding-war-finally-over%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\/15\/is-this-anfi-bidding-war-finally-over\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/427.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564171\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/427-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/427.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"427.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/427.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/427.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564170\" class=\"content-area-description single-story post-564170 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-ma-watch tag-abu-dhabi-islamic-bank tag-alexandria-national-company-for-financial-investments tag-enterprisepm tag-ma-watch tag-tycoon-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Tycoon to acquire at least 85% of ANFI<\/strong>: Abu Dhabi Islamic Bank Egypt (ADIB) has approved Tycoon Holding\u2019s offer to acquire its stake in Alexandria National Company for Financial Investment (ANFI), the Emirati lender said in an <a href=\"https:\/\/ent.news\/2021\/8\/ADIB-board-15-Aug.pdf\">EGX statement (pdf)<\/a> this morning. ADIB Egypt owns almost 85% of the company, holding 9% directly and the remainder through its KWIN and ADI Lease subsidiaries.<\/p>\n<p><strong>Tycoon is trying to acquire a 90% stake in ANFI:<\/strong> The company launched <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5261c97e-0976-4b8a-a263-0d79ea2f0404\">a mandatory tender offer<\/a> on 1 August for the company, offering to purchase 4.7 mn shares for EGP 6.25 apiece, valuing the company at EGP 32.7 mn. The MTO, which lasted for 10 working days, closed at the end of today\u2019s trading session, according to an earlier <a href=\"https:\/\/ent.news\/2021\/8\/MTO-Tycoon.pdf\">statement (pdf)<\/a>. It remains unclear whether other shareholders have accepted the company\u2019s offer.<\/p>\n<p><strong>The ANFI bidding war:<\/strong> Tycoon beat several other companies bidding for the company, raising <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4871b8d6-2744-4108-af2b-d3ef0dc80a02\">its initial offer<\/a> to exceed Compass Capital\u2019s EGP 6.12 bid, and Zeta investments\u2019 EGP 6 offer. Tycoon joined the race in June, along with other bidders including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">Kayan Sustainable Development<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe3135e-1f51-4fb6-963b-163a781a6adf\">Zaldi Capital<\/a>, and a group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia\u2019s Mostafa El Humeidan.<\/p>\n<p><strong>IN OTHER M&A NEWS-<\/strong><\/p>\n<p><strong>GB Auto has completed the sale of its 5% indirect stake in its<\/strong> <strong>Netherlands-based subsidiary MNT Investments<\/strong> to unnamed foreign funds in a EGP 352.7 mn transaction, the company said in EGX statements <sup><\/sup>(pdfs \u2014<a href=\"https:\/\/ent.news\/2021\/8\/GB-Auto-15-Aug-EN.pdf\">here<\/a> and <a href=\"https:\/\/ent.news\/2021\/8\/GB-Auto-15-Aug-EN-2.pdf\">here<\/a>). The sale brings its stake in the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55bf70dd-17f8-4034-a441-b6a35be1779a\">down to 57.26%<\/a>. MNT is the parent company of asset-based lender <a href=\"https:\/\/www.facebook.com\/Mashroey-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%8A-598542883658417\/?hc_ref=ARRdsjq2suFfrFiPtI75buqHai-MyB6F-o23RBLq4znReRSlWZn57gVw8vm4cSGZmL4&fref=nf&__tn__=kC-R\">Mashroey<\/a> and microfinance player <a href=\"https:\/\/www.facebook.com\/tasaheelegypt\/?hc_ref=ARTdyQ6lahw-Fir_ow74fYmM55SBgxlxZqhaQgufXZ629DyqNEHw0IIGwRxb6RZ9yTc&fref=nf&__xts__%5b0%5d=68.ARApEE7UHk-CWOZ9bXoTSzV9WvwSwaSlM0tSIuLcu5WEImQ5LbbEjQDj1tEeI9tbERx1dqpDOQGndHZocYm_LWNlamUhLrOYk9IuV-P8kHVrye7warioyr_ui3Sj5KGd31KSr5vCcfD3AcVcxBOIOZ9K4s60B1kNJMW9cHySyTD_dV_8ykh3tPMNtTmmCXGB5DGetac-sDk671YQN_hP3xd3Xta_-CiE-fJUYk5RymYDXIqpWtm_8EMZ_q_2qHotD90GbPaRnS8uLJMfuQJqbfCNFZh02XTJ_KeTefNkGJi9dQqaWqyHBWg&__tn__=kC-R\">Tasaheel<\/a> and is majority-owned by GB Auto\u2019s financial services arm GB Capital.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-national-company-for-financial-investments\/\">Alexandria National Company for Financial Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tycoon-holding\/\">Tycoon Holding<\/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=\"564172\" 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=\"564172\">\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\">SPEED ROUND: FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/and-egypts-first-microleasing-license-goes-to\/\">\r\n                            And Egypt\u2019s first microleasing license goes to...                        <\/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\/15\/and-egypts-first-microleasing-license-goes-to\/\" 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\/15\/and-egypts-first-microleasing-license-goes-to\/')\">\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\/15\/and-egypts-first-microleasing-license-goes-to\/\">\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=And Egypt\u2019s first microleasing license goes to...&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/and-egypts-first-microleasing-license-goes-to\/\">\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\/15\/and-egypts-first-microleasing-license-goes-to\/&title=And Egypt\u2019s first microleasing license goes to...\">\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=And+Egypt%E2%80%99s+first+microleasing+license+goes+to...+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F15%2Fand-egypts-first-microleasing-license-goes-to%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\/15\/and-egypts-first-microleasing-license-goes-to\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/429.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564173\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/and-egypts-first-microleasing-license-goes-to\/429-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/429.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"429.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/429.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/429.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564172\" class=\"content-area-description single-story post-564172 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-finance tag-enterprisepm tag-finance tag-financial-regulatory-authority tag-leasing tag-microfinance tag-non-banking-financial-services tag-regulation tag-tasaheel 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-05\"><\/a> <strong>Tasaheel acquires Egypt\u2019s first microleasing license: <\/strong>Micro lender <a href=\"https:\/\/www.facebook.com\/tasaheelegypt\/\">Tasaheel<\/a> was today granted the first license for microfinance leasing in the Egyptian market by the Financial Regulatory Authority (FRA), a source at the regulator told Enterprise today. This will make the company \u2014 which also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/127f2d44-ad2d-453f-b03a-7fec950184fb\">received the country\u2019s first SME microfinancing license<\/a> in July \u2014 the first in Egypt able to offer leasing products specifically targeted at borrowers who are unable to access conventional facilities offered by non-bank lenders.<\/p>\n<p><strong>The license will pave the way for the launch of Egypt\u2019s first microfinance leasing product<\/strong>, and will help micro-projects access resources for new activities and expansion, the FRA said in a <a href=\"https:\/\/ent.news\/2021\/8\/%D8%A3%D9%88%D9%84-%D8%AA%D8%B1%D8%AE%D9%8A%D8%B5-%D9%84%D9%85%D8%B2%D8%A7%D9%88%D9%84%D8%A9-%D9%86%D8%B4%D8%A7%D8%B7-%D8%A7%D9%84%D8%AA%D8%A3%D8%AC%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D9%89-%D9%85%D8%AA%D9%86%D8%A7%D9%87%D9%89-%D8%A7%D9%84%D8%B5%D8%BA%D8%B1.pdf\">statement (pdf)<\/a> yesterday, without publicly naming the newly-licensed company.<\/p>\n<p><strong>This latest license was issued following a series of reforms to the laws governing microfinance, <\/strong>FRA chief Mohamed Omran said in the statement. They include a 2018 amendment allowing licensed lenders to engage in microfinance leasing, and a bill <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dfc049d-6585-4dd9-95fe-2599d45aee55\">ratified<\/a>last year bringing SMEs under the 2014 Microfinance Act and raising the maximum value of a micro-loan to a single company or project to EGP 200k from EGP 100k.<\/p>\n<p><strong>Who could be next?<\/strong> Microfinance firm Tamweely <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48343a3e-accd-422e-9f6c-4703de483a56\">wants to<\/a> provide microleasing products to SMEs from the start of next year, and has applied to the FRA for a license. Meanwhile, EFG Hermes-owned microfinance player Tanmeyah <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86118abd-fb79-45dd-a4f4-77b98a995641\">could<\/a>file for an FRA-regulated SME microfinancing license before the year\u2019s end.<\/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\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tasaheel\/\">Tasaheel<\/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=\"564174\" 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=\"564174\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/ibnsina-net-income-up-45-in-2q2021\/\">\r\n                            Ibnsina net income up 45% in 2Q2021                        <\/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\/15\/ibnsina-net-income-up-45-in-2q2021\/\" 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\/15\/ibnsina-net-income-up-45-in-2q2021\/')\">\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\/15\/ibnsina-net-income-up-45-in-2q2021\/\">\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=Ibnsina net income up 45% in 2Q2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/ibnsina-net-income-up-45-in-2q2021\/\">\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\/15\/ibnsina-net-income-up-45-in-2q2021\/&title=Ibnsina net income up 45% in 2Q2021\">\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=Ibnsina+net+income+up+45%25+in+2Q2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F15%2Fibnsina-net-income-up-45-in-2q2021%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\/15\/ibnsina-net-income-up-45-in-2q2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564174\" class=\"content-area-description single-story post-564174 post type-post status-publish format-standard hentry category-go-with-the-flow tag-abu-dhabi-islamic-bank tag-banking tag-earnings tag-earnings-watch tag-enterprisepm tag-export-development-bank-of-egypt tag-go-with-the-flow tag-ibnsina-pharma tag-maridive tag-pharma 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-02\"><\/a> <strong>EARNINGS WATCH- Ibnsina Pharma saw its net income rise more than<\/strong><strong> 45% <\/strong><sup><\/sup><sup><\/sup><strong>to EGP 56.3 mn in <\/strong><strong>2Q2021<\/strong>, compared to EGP 38.7 mn in the same period last year, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Ibnsina-financials-1H2021.pdf\">earnings release (pdf)<\/a>. The bottom-line growth was fuelled by a 21% rise in revenues, which reached almost EGP 5.4 bn during the quarter from EGP 4.4 bn last year.<\/p>\n<p>During the first six months of the year, Ibnsina saw a 20% y-o-y rise in net income to EGP 106.7 mn from EGP 89 mn a year earlier.<\/p>\n<p><strong>\u201cIbnsina Pharma is in clear sight of its strategic objectives for the year\u201d<\/strong> thanks to the strength of Egypt\u2019s pharma market, which is rebounding from the shock of the covid pandemic, said co-CEO Omar Abdel Gawad<\/p>\n<p><strong>Looking ahead<\/strong>: Growth during the first six months of the year has set the company on \u201ca path to even stronger growth over the remainder of 2021,\u201d Gawad said. \u201cHeading into 2H2021, we anticipate an increase in Ibsnina\u2019s top-line growth rate which will bring it into line with previous guidance, helped by the company\u2019s ability to leverage economies of scale across its operations.\u201d<\/p>\n<p><strong>Alexandria Medical Services <\/strong><strong>saw its net income rise to EGP 15.4 mn<\/strong> <strong>in 2Q2021, <\/strong> from EGP 184.3k in losses in the same period last year, the company <a href=\"https:\/\/ent.news\/2021\/8\/Alex-Medical-Earnings-Report-H1-Q22021.pdf\">reported (pdf)<\/a>. The medical firm\u2019s revenues rose 69% to EGP 67.8 mn in the April-June period, compared with EGP 40.1 mn last year.<\/p>\n<p><strong>Maridive Oil and Services narrowed its losses in the second quarter to<\/strong> <strong>USD 12.5 <\/strong><strong>mn<\/strong>, from USD 20.3 mn in 2Q2020, according to the <a href=\"https:\/\/ent.news\/2021\/8\/Maridive-Earnings-Report-H1-Q2-2021.pdf\">company\u2019s financials (pdf)<\/a>. This came despite revenues falling by almost half to USD 29.5 mn, down from USD 57.6 mn last year.<\/p>\n<p><strong>Abu Dhabi Islamic Bank Egypt (ADIB) saw its bottomline rise to EGP 347.9 mn in <\/strong><strong>2Q2021<\/strong>, compared to EGP 300.2 mn during the same period last year, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/ADIB-2Q2021.pdf\">financial results (pdf)<\/a>. Net interest income also rose to EGP 842.7 mn in 2Q2021, compared to EGP 765.5 mn last year.<\/p>\n<p><strong>Export Development Bank of Egypt reported a rise in its bottomline to EGP 159.5 <\/strong><strong>mn in 2Q2021<\/strong>, compared to EGP 125.2 mn in 2Q2020, according to the bank\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Export-Dev-Bank-2Q2021.pdf\">financial results (pdf)<\/a>. Net interest income increased to EGP 483.3 mn in 2Q2021, compared to EGP 395.5 mn in 2Q2020.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The EGX30 rose 1.3% at today\u2019s close<\/strong> on turnover of EGP 1.55 bn (14.2% above the 90-day average). Local investors were net sellers. The index is up 1.7% YTD.<\/p>\n<p><strong>In the green:<\/strong> Speed Medical (+4.6%), Egypt Kuwait Holding (+4.4%), and CIB (+3.0%).<\/p>\n<p><strong>In the red:<\/strong> Raya Holding (-2.5%), TMG Holding (-2.4%), and Medinet Nasr Holding (-2.2%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/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                            <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\/export-development-bank-of-egypt\/\">Export Development Bank of Egypt<\/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\/ibnsina-pharma\/\">Ibnsina Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maridive\/\">Maridive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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=\"564175\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564176\" 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=\"564176\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/\">\r\n                            The unequal distribution of doses, brought to you by Gavi \/ Covax                        <\/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\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/\" 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\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/')\">\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\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/\">\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=The unequal distribution of doses, brought to you by Gavi \/ Covax&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/\">\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\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/&title=The unequal distribution of doses, brought to you by Gavi \/ Covax\">\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=The+unequal+distribution+of+doses%2C+brought+to+you+by+Gavi+%2F+Covax+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F15%2Fthe-unequal-distribution-of-doses-brought-to-you-by-gavi-covax%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\/15\/the-unequal-distribution-of-doses-brought-to-you-by-gavi-covax\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564176\" class=\"content-area-description single-story post-564176 post type-post status-publish format-standard hentry category-covid-watch tag-covax tag-covid-19 tag-enterprisepm tag-gavi 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>Is COVAX a solution or adding to the vaccine inequity problem?<\/strong> The Gavi \/ Covax program sent some 530k doses to Britain in late June, which is more than double the jabs sent to the entire Africa during the same month, despite bns of people in developing countries not yet having their first doses, the <a href=\"https:\/\/apnews.com\/article\/joe-biden-middle-east-africa-europe-coronavirus-pandemic-5e57879c6cb22d96b942cbc973b9296c\">Associated Press<\/a> reports. This comes despite the program reportedly reviewing its initial plan this month and proposing that poorer countries would receive about 75% of covid-19 jabs in the future compared to the previous 50%.<\/p>\n<p><strong>So why is the UK getting so many jabs and this side of the world is struggling for just one dose?<\/strong> It would be difficult to secure doses with some manufacturers without the engagement of rich countries, Gavi noted.<\/p>\n<p><strong>The global vaccine distribution initiative plans to deliver over 2 bn doses by the beginning of 2022, <\/strong>with the \u201cvast majority\" of the doses to go to low- and middle-income countries, Gavi said. COVAX had only shipped 210 mn doses \u201440% of which are donated\u2014 as at last month, although the initiative earlier announced securing 640 mn doses \u2014all under agreements\u2014 for delivery by July 2021.<\/p>\n<p><strong>Egypt received some 4.3 mn of the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1226fb07-34cb-425a-8d0b-75990bb603d5\">4.5 mn doses allocated<\/a><\/strong><strong> to it by Covax<\/strong>. The country got the latest 1.76 mn-dose shipment of the Oxford \/ AstraZeneca vaccine received last weekend, which is slightly below the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/074b2004-482e-43ca-a435-c404a1118a8f\">1.9 mn outstanding shots<\/a> that were expected to be delivered last week.<\/p>\n<p><strong>COVID PSA- A broadcast from planet D\u2019uh: <\/strong>Regularly opening the car windows for 10-second intervals could reduce COVID-19 particle buildup by as much as 97%, according to a <a href=\"https:\/\/www.bbc.com\/news\/uk-wales-58202468\">Swansea University study reported by the BBC<\/a>. The study found that the difference in air pressure between the inside and outside of a car could eject most virulent particules, thus keeping the passengers safe.<\/p>\n<p><strong>But that doesn\u2019t mean we\u2019re exempt from mask-wearing<\/strong>: The researchers also discovered that COVID-19 particle emissions fall by 90% and its intake decreases by 70% for people wearing a face covering.<\/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\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gavi\/\">GAVI<\/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=\"564177\" 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\/15\/your-essential-business-calendar-on-15-august-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564177\" class=\"content-area-description single-story post-564177 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>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.<\/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.<\/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.<\/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.<\/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.<\/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>.<\/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":564165,"template":"","categories":[],"tags":[],"class_list":["post-564164","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a57bba66-259d-4154-bc76-e337063e2b79","teaser":"","photo_url":"https:\/\/ent.news\/2021\/8\/423.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>Enterprise The EGX30 index closed today\u2019s session 1.3% in the green on the back of a strong earnings season. - 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\/enterprise-the-egx30-index-closed-todays-session-1-3-in-the-green-on-the-back-of-a-strong-earnings-season\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise The EGX30 index closed today\u2019s session 1.3% in the green on the back of a strong earnings season.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx30-index-closed-todays-session-1-3-in-the-green-on-the-back-of-a-strong-earnings-season\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:24:42+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\/423.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\/enterprise-the-egx30-index-closed-todays-session-1-3-in-the-green-on-the-back-of-a-strong-earnings-season\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx30-index-closed-todays-session-1-3-in-the-green-on-the-back-of-a-strong-earnings-season\/\",\"name\":\"Enterprise The EGX30 index closed today\u2019s session 1.3% in the green on the back of a strong earnings season. - 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