{"id":564902,"date":"2021-03-07T13:49:51","date_gmt":"2021-03-07T13:49:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=564902"},"modified":"2025-12-16T04:44:15","modified_gmt":"2025-12-16T04:44:15","slug":"wtf-is-an-nft-and-why-are-we-all-talking-about-them","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/wtf-is-an-nft-and-why-are-we-all-talking-about-them\/","title":{"rendered":"WTF is an NFT \u2014 and why are we all talking about them?"},"content":{"rendered":"<section id=\"564904\" 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=\"564904\">\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\/03\/07\/what-were-tracking-on-7-march-2021-2\/\">\r\n                            What we\u2019re tracking on 7 March 2021                        <\/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\/03\/07\/what-were-tracking-on-7-march-2021-2\/\" 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 leads the global business press on both sides of the ocean (<a href=\"https:\/\/www.wsj.com\/articles\/senate-democrats-overcome-impasse-reach-agreement-to-advance-covid-19-relief-bill-11615012575?mod=hp_lead_pos1\">Wall Street Journal<\/a> and <a href=\"https:\/\/www.ft.com\/content\/82be51e9-751b-43b7-92fd-7a95fcb99388\">Financial Times<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>HAPPENING NOW- <\/strong><strong>16 Egyptian <\/strong><strong>CEOs and business leaders have made the Forbes <\/strong><strong><a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-ceos-in-the-middle-east\/\">Top<\/a><\/strong><strong><a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-ceos-in-the-middle-east\/\">100 CEOs in the Middle East in 2021<\/a><\/strong><strong> list. <\/strong>The lineup was selected based on the size of the company, the growth it had shown over the past year, and the impact the CEO has had on their respective industry as a whole.<\/p>\n<ul>\n<li>10 - Suez Canal chief <strong>Osama Rabie<\/strong><\/li>\n<li>16 - National Bank of Egypt chairman <strong>Hisham Okasha<\/strong><\/li>\n<li>22 - Etisalat Group CEO <strong>Hatem Dowidar<\/strong><\/li>\n<li>43 - Banque Misr chairman <strong>Mohamed El Etreby<\/strong><\/li>\n<li>49 - CIB CEO <strong>Hussein Abaza<\/strong><\/li>\n<li>51 - Mashreq Bank CEO <strong>Ahmed Abdelaal<\/strong><\/li>\n<li>53 - Qatar Islamic Bank Group CEO <strong>Bassel Gamal<\/strong><\/li>\n<li>59 - Ahli United Bank CEO and MD <strong>Adel El-Labban<\/strong><\/li>\n<li>67 - TMG CEO and MD <strong>Hisham Talaat Mostafa<\/strong><\/li>\n<li>72 - Orascom Construction CEO <strong>Osama Bishai<\/strong><\/li>\n<li>81 - Commercial Bank of Kuwait CEO <strong>Elham Mahfouz<\/strong><\/li>\n<li>83 - EgyptAir Holding CEO <strong>Roshdy Zakaria<\/strong><\/li>\n<li>88 - Telecom Egypt CEO <strong>Adel Hamed<\/strong><\/li>\n<li>90 - Mohamed & Obaid Almulla Group Group CEO <strong>Sherif Beshara<\/strong><\/li>\n<li>95 - Arab Contractors CEO <strong>Sayed Farouk<\/strong><\/li>\n<li>99 - EFG Hermes Group CEO <strong>Karim Awad<\/strong><\/li>\n<\/ul>\n<p><strong>Honorable mention:<\/strong> Fine Hygienic Holding CEO James Lafferty, who isn\u2019t Egyptian, but made the Forbes list at #87 and was our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00b75d88-5a4c-494b-8442-9e055f46c910\">Christmas Eve Work From Home Routine<\/a> last year.<\/p>\n<p><strong>CATCH UP QUICK<\/strong> on the top stories from this morning\u2019s edition of EnterpriseAM:<\/p>\n<ul>\n<li><strong>More than 1k citizens have already been vaccinated against covid-19 <\/strong>as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee1f5141-646a-4a5c-9811-22fae65ea6e1\">rollout<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee1f5141-646a-4a5c-9811-22fae65ea6e1\">of jabs<\/a> from AstraZeneca and Sinopharm continues \u2014 and the tourism industry wants to offer shots to anybody heading to hajj this year.<\/li>\n<li>It looks like the state is edging toward <strong>selling another stake in Abu Qir Fertilizers in a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1654e4fd-450b-4ecd-b4e8-5f63968bf970\">secondary sale<\/a><\/strong><strong> on the EGX <\/strong>just in time for what many analysts claim will be a commodities supercycle.<\/li>\n<li><strong>Vezeeta isn\u2019t rolling over under pressure from the Pharmacists Syndicate<\/strong>, saying its newly launched online store is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/374803a1-5e14-4e61-abbe-f32037641f0a\">fully compliant with the law<\/a>.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong> <strong>The <\/strong><strong><a href=\"https:\/\/www.idc.com\/mea\/events\/67992-idc-future-of-work\">IDC Future of Work<\/a><\/strong><strong> conference gets underway<\/strong> with a theme of \u201cthe path to business resiliency.\u201d<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Photopia\u2019s <\/strong><strong><a href=\"http:\/\/bit.ly\/3qeZi2a\">Cairo Photo Week 2021<\/a><\/strong><strong> kicks off this Thursday <\/strong>and runs through 20 March. The photo festival will feature over 100 activities including workshops, panels, photo challenges, exhibitions, portfolio reviews and photo walks throughout the week, all led by more than 80 local and international photographers. Genres including fashion, food, portraits, documentary and photojournalism are all in the spotlight. You can check out the event program on <a href=\"https:\/\/www.photopiacairo.com\/cairophotoweek-2021?fbclid=IwAR1VINWsHs0sOu3TMtc8ylAWapzWrTthzPq_f0xf6tF5q2zjqh6I0KszU-k\">Photopia\u2019s website<\/a>, there\u2019s plenty to look at on the group\u2019s Instagram feed @cairophotoweek, and both physical and virtual tickets are available <a href=\"https:\/\/ticketing.eventtus.com\/y5flju015b0uv2qe11v8twbfvxdd7hs5\/tickets?fbclid=IwAR2TtnBFF17ilmZhScxWpLXXXQR2nK7zxjFkXDmk0Cfh1J17Da7dm2MLEpk\">here<\/a>.<\/p>\n<p>Also on Thursday: <strong>The next iteration of <\/strong><strong><a href=\"https:\/\/www.lemarcheexpo.com\/\">Le March\u00e9<\/a><\/strong><strong>, an anchor of the annual expo scene, takes<\/strong><strong> place 11-14 March<\/strong> at the Egypt International Convention Centre, with over 300 local and international brands set to showcase their wares. Full details and digital catalogue on the show\u2019s website.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.cairofashiontex.com\/\">Cairo Fashion & Textile Expo<\/a><\/strong><strong> trade show<\/strong> is set to open at the Cairo International Convention Center on Thursday, running through 13 March.<\/p>\n<p><strong>Higher education fair <\/strong><strong><a href=\"http:\/\/edugate-eg.com\/\">EduGate<\/a><\/strong><strong> runs Tuesday through Thursday <\/strong>at the Royal Maxim Palace Kempinski on the Ring Road. Participants include universities, colleges and training institutions as well as scholarship and grant providers. There\u2019s also an online-only version taking place 18-20 March.<\/p>\n<p><strong>AUC Press\u2019s <\/strong><strong><a href=\"http:\/\/bit.ly\/3rl944d\">Mad March<\/a><\/strong><strong> book sale will be ongoing for the rest of the month. <\/strong>The sale is open to the general public every day from 10am\u20136pm CLT at AUC Tahrir Bookstore & Garden.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>If your company runs on the Microsoft Exchange Server, you want to pay attention to <\/strong><strong>this: <\/strong>An attack on Microsoft\u2019s business email platform that began on 26 February is growing into a global cybersecurity crisis and is raising concerns among national security experts, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-07\/hackers-breach-thousands-of-microsoft-customers-around-the-world?sref=mmeFTDW1\">Bloomberg<\/a> reports. Microsoft says the attack started with <a href=\"https:\/\/blogs.microsoft.com\/on-the-issues\/2021\/03\/02\/new-nation-state-cyberattacks\/\">a Chinese government-backed hacking group called Hafnium<\/a>, which was initially trying to steal information from groups such as infectious disease researchers, law firms, higher education institutions and defence contractors.<\/p>\n<p><strong>Microsoft has since issued <\/strong><strong><a href=\"https:\/\/msrc-blog.microsoft.com\/2021\/03\/02\/multiple-security-updates-released-for-exchange-server\/\">security updates<\/a><\/strong><strong> to protect customers running Exchange <\/strong><strong>Server<\/strong>, claiming there\u2019s no evidence that Hafnium targeted individual consumers or that other Microsoft products are vulnerable.<\/p>\n<p><strong>The attack is estimated to have impacted up to 60k global companies<\/strong>, a former senior U.S. official told Bloomberg. This is the first major cybersecurity crisis since the <a href=\"https:\/\/enterprise.press\/stories\/2020\/12\/15\/what-were-tracking-on-15-december-2020-27198\/\">SolarWinds incident<\/a> last year where Russian hackers breached nine federal agencies, including the US Treasury and Commerce departments, and at least 100 companies.<\/p>\n<hr class=\"grey-line\">\n<p><strong>SIGN OF THE TIMES #1- As a country we\u2019re loving the whole \u201ctap to pay\u201d thing<\/strong>, with Visa saying at a recent Egyptian Banking Institute webinar that the number of active contactless cards in use here was up ten-fold in the year ending September 2020. Some 78% of Egyptians surveyed are making more contactless payments.<\/p>\n<p><strong>SIGN OF THE TIMES #2- Robots are being given pedestrian status<\/strong> as they roam sidewalks and cross city streets in Pennsylvania, Virginia, Idaho, Florida and Wisconsin, writes <a href=\"https:\/\/www.axios.com\/sidewalk-robots-legal-rights-pedestrians-821614dd-c7ed-4356-ac95-ac4a9e3c7b45.html\">Axios<\/a>. The change in legislation comes as Amazon, Fedex, Postmates and other delivery companies have added robots and drones to their delivery fleet and are currently being tested in urban and suburban settings. The <a href=\"https:\/\/en.wikipedia.org\/wiki\/NIMBY\">NIMBYs<\/a> are unimpressed, but Big Tech insists we all welcome a future in which household items show up in a matter of hours, with fewer delivery vans blocking traffic and spewing emissions, according to <a href=\"https:\/\/www.wired.com\/story\/amazon-fedex-delivery-robots-your-sidewalk\/\">Wired<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p>(All times CLT)<\/p>\n<p><strong>Maybe it's time to blow the dust off of your TV receiver: <\/strong>While many of us have given up the commercial-riddled, uncontrollable aspects of the TV, we do still sometimes feel nostalgic about having a channel decide what we\u2019re watching as opposed to hours of scrolling down Netflix. So if you\u2019d like to check out the good ol\u2019 satellite TV tonight, you can catch <a href=\"https:\/\/www.imdb.com\/title\/tt2096672\/\">Dumb and Dumber To<\/a> on MBC2 at 8pm or <a href=\"https:\/\/www.imdb.com\/title\/tt1638355\/\">The Man from U.N.C.L.E<\/a> on Dubai One at 8pm.<\/p>\n<p><strong>\u26bd The Premier League is going strong<\/strong>, with West Brom just about finishing up their match against Newcastle at the moment. Mo Salah\u2019s Liverpool are up soon, playing Fulham at 4pm, while Man City will face off with Man United at 6:30pm and Tottenham take on Crystal Palace at 9:45pm.<\/p>\n<p><strong>Roma and Genoa are already on the field in Serie A, <\/strong>but you have three matches with 4pm kickoffs from which to choose: Crotone versus Torino, Fiorentina versus Parma, and Verona versus Milan. Sampdoria will face off against Cagliari at 7pm, while Napoli plays Bologna and Inter Milan take on Atalanta, both at 9:45pm.<\/p>\n<p><strong>La Liga is also already playing today, <\/strong>with Huesca currently head-to-head with Celta Vigo. You\u2019ll want to take note of the match between Atletico Madrid and Real Madrid tonight at 5:15pm, while Real Sociedad and Levante will play at 7:30pm and Athletic Club will go up against Granada at 10pm.<\/p>\n<p><strong>MEANWHILE: FC Barcelona is getting caught up in politics: <\/strong>The largest football club in the world by revenue is picking a new president today and the outcome may have widespread impact on the Catalonia independence movement, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-07\/barcelona-football-club-is-getting-caught-up-in-spanish-politics?sref=mmeFTDW1\">Bloomberg<\/a> reports. While the club is one of the largest Catalan institutions remaining outside seperatist control \u2014 and candidates have mostly avoided publicly addressing the issue \u2014 behind the scenes efforts are being made to ensure that whoever wins will be firmly aligned with the separatist cause, unnamed sources tell the publication.<\/p>\n<p><strong>? Team LeBron faces Team Durant at 3am on Monday in the 2021 NBA all-star exhibition <\/strong><strong>game:<\/strong> This is the first time the all-star weekend is condensed into one night, with the skills, three-point, and dunk contests all taking place tonight as well. Brooklyn Nets star Kevin Durant, who was diagnosed with a mild hamstring strain in February, is replaced on the roster by Boston Celtics forward Jayson Tatum. Also worth noting: This is the first time Lakers\u2019 LeBron James and Golden State Warriors\u2019 Steph Curry play on the same team.<\/p>\n<p><strong>Can\u2019t wait for tonight?<\/strong> Enjoy this <a href=\"https:\/\/www.youtube.com\/watch?v=w4mMF2UVXmY\">highlight reel<\/a> of the top all-star plays of the decade.<\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>A good day starts with a good breakfast. <\/strong>Or so our moms have always claimed, and it\u2019s a notion likely supported by the marketing people for Canada\u2019s <a href=\"https:\/\/www.eggspectation.ca\/\">Eggspectation<\/a> at Cairo Festival City. The Montr\u00e9al-born chain came to Egypt last year as part of its international expansion \u2014 and quickly gained popularity with the New Cairo crowd for its heaping plates. <strong>They serve all the classics<\/strong>, from poached eggs to pancakes, but make sure to add a twist to each plate with ingredients such as lobster or their house sauces. We\u2019re addicted to their chicken and waffles and their beef bacon and eggs. You can visit Eggspectation for brunch, lunch, or dinner with their all-day breakfast menu or their lunch menu, which features pastas, burgers, and a few main dishes.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Art D'\u00c9gypte is currently displaying the UN Women-sponsored exhibition \u201c<\/strong><strong><a href=\"http:\/\/bit.ly\/3c9bzjt\">Mu'anath<\/a><\/strong><strong>\u201d<\/strong> featuring a variety of artists exploring the feminine in our cultural identity through photography, painting and sculpture. <strong>The opening is today from 6-10 pm in Downtown<\/strong>, with the exhibition set to run through 1 April.<\/p>\n<p><strong>It\u2019s getting big notice: <\/strong>US ambassador <strong>Johnathan Cohen<\/strong>, French ambassador <strong>St\u00e9phane <\/strong><strong>Romatet<\/strong> and business icon <strong>Naguib Sawiris<\/strong> were among the attendees at a private showing last night.<\/p>\n<p><strong>The Comedy Bunker is on stage for standup comedy night at The Room Art Space in <\/strong><strong>New Cairo<\/strong> today at 9pm CLT. The lineup includes Mohamed Helmy, Pola Samwel, Hamza Bahaa, Hossam Edris, Mina Nader, and the musical comedy duo ElNo Talents.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.amazon.com\/Essays-That-Will-Change-Think-ebook\/dp\/B01MYMUGQL\">101 Essays That Will Change The Way You Think<\/a><\/strong><strong> is the perfect bedside read<\/strong> to pick up every once in a while for a bitesized tale. Author Brianna Wiest complies her writing that explores pursuing purpose over passion, embracing negative thinking, seeing the wisdom in daily routine, and becoming aware of the cognitive biases affecting your perspective on life.<\/p>\n<p><strong>? <\/strong><strong>TOMORROW\u2019S WEATHER- Expect sunny skies tomorrow<\/strong>, with highs of 25\u00b0C (which with the sun we\u2019re sure will feel like more) and nighttime lows of 15\u00b0C. Our favorite weather app is warning that we\u2019re looking at a heat wave, with a high of 32\u00b0C in the capital city on Tuesday and 35\u00b0C on Wednesday.<\/p>\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\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div 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stk-block-column stk-column stk-block stk-hcmi8kz\" data-v=\"4\" data-block-id=\"hcmi8kz\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-hcmi8kz-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-hcmi8kz-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-979n6sb\" data-v=\"4\" data-block-id=\"979n6sb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-979n6sb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-979n6sb-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 aria-hidden=\"true\" focusable=\"false\" 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   \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: INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/foundation-ventures-aims-to-invest-egp-30-mn-this-year-from-inaugural-fund\/\">\r\n                            Foundation Ventures aims to invest EGP 30 mn this year from inaugural 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 class=\"list-inline-item\">\n                <a 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invest EGP 30 mn this year from inaugural fund\">\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=Foundation+Ventures+aims+to+invest+EGP+30+mn+this+year+from+inaugural+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F07%2Ffoundation-ventures-aims-to-invest-egp-30-mn-this-year-from-inaugural-fund%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\/03\/07\/foundation-ventures-aims-to-invest-egp-30-mn-this-year-from-inaugural-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564906\" class=\"content-area-description single-story post-564906 post type-post status-publish format-standard hentry category-speed-round-investment-watch tag-beltone-financial tag-bpe-partners tag-enterprisepm tag-investment-watch tag-startup-watch tag-venture-capital 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-01\"><\/a> <strong>VC firm <\/strong><strong><a href=\"https:\/\/www.foundationventures.com\/\">Foundation Ventures<\/a><\/strong><strong> is planning to invest around EGP 30 mn this year from its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee1869b6-55f5-43c3-a4aa-d27de130d0b8\">inaugural Egypt-focused fund<\/a><\/strong><strong>, <\/strong>managing partner <a href=\"https:\/\/www.linkedin.com\/in\/omar-barakat-7b2469121\/\">Omar Barakat<\/a> told us. \u201cWe\u2019re always interested in fintech, given that it\u2019s growing across Egypt\u201d and is getting a boost from the state\u2019s drive to promote digitization and financial inclusion, Barakat said. Foundation Ventures\u2019 EGP 100 mn fund officially launched late last year with an initial portfolio of four companies including fintech players <a href=\"https:\/\/www.capiter.net\/\">Capiter<\/a> and <a href=\"https:\/\/nowpay.cash\/\">Nowpay<\/a>, entertainment platform <a href=\"https:\/\/minlyapp.com\/\">Minly<\/a>, and logistics company Flextock. The fund was also a \u201cmajor\u201d participant in home buying platform Sakneen\u2019s recent USD 1.1 mn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3cead6a5-7b8d-4a13-be24-69209600815b\">seed investment round<\/a> and invested in online education platform <a href=\"https:\/\/abwaab.me\/?country=EG\">Abwaab<\/a>. Foundation\u2019s partners include Barakat, <a href=\"https:\/\/www.linkedin.com\/in\/mazennadim\/?originalSubdomain=eg\">Mazen Nadim<\/a> and <a href=\"https:\/\/www.linkedin.com\/in\/onsisawiris\/\">Onsi Sawiris<\/a>.<\/p>\n<p><strong>SPEAKING OF ONSI <\/strong><strong>SAWIRIS<\/strong><strong>: <\/strong><strong>Beltone Financial is planning to focus on adding more <\/strong><strong>non-banking financial services to its portfolio, but isn\u2019t yet thinking about acquisitions<\/strong>, Sawiris told <a href=\"https:\/\/bit.ly\/3egheqx\">Hapi Journal<\/a>. Sawiris, who is acting as chairman of the firm on a temporary basis, said Beltone is looking to bring in fresh management talent and test new ideas for up to two years before committing to a longer-term strategy. Beltone is undergoing a transitional phase after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0c34203-11bd-4e8b-ad37-b861ca42b976\">last month\u2019s<\/a> horizontal demerger saw its former parent company, Orascom Investment Holding (OIH), spinoff its non-bank financial services holdings into newly-created Orascom Financial Holdings (OFH), which Sawiris chairs.<\/p>\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\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bpe-partners\/\">BPE Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"564907\" 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=\"564907\">\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: MACRO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/\">\r\n                            Foreign reserves inch up c. USD 100 mn in February                        <\/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\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/\" 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\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/')\">\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\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/\">\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=Foreign reserves inch up c. USD 100 mn in February&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/\">\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\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/&title=Foreign reserves inch up c. USD 100 mn in February\">\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=Foreign+reserves+inch+up+c.+USD+100+mn+in+February+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F07%2Fforeign-reserves-inch-up-c-usd-100-mn-in-february%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\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/416.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564908\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/foreign-reserves-inch-up-c-usd-100-mn-in-february\/416-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/416.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"416.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/416.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/416.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564907\" class=\"content-area-description single-story post-564907 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-macro tag-covid-19 tag-currencies tag-enterprisepm tag-foreign-exchange tag-foreign-reserves tag-speed-round-macro 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>The nation\u2019s foreign currency reserves rose nearly USD 100 mn in February, ending the month at USD 40.2 bn<\/strong>, according to <a href=\"https:\/\/www.cbe.org.eg\/ar\/Pages\/HighlightsPages\/NIR-February-2021.aspx\">central bank figures<\/a>. Foreign reserves had increased <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44abf538-467f-410f-b3ae-9bfbb436d024\">USD 38.2 mn in January<\/a>, after shooting up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb024ebc-ab76-40e9-bad8-2981bb92c5c2\">by almost USD 800 mn<\/a> in December 2020 to their highest level <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf372f6c-8044-4c64-9054-8c506d63a4a8\">since last April<\/a>. Foreign reserves had dropped by almost USD 10 bn during the height of the covid-19-driven market panic last year, and are still short of their <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0afff7d1-dbb9-42a8-a855-28a2261272e7\">February 2020 USD 45.5 bn high<\/a>.<\/p>\n<p><strong>CATCH UP QUICK- <\/strong><\/p>\n<ul>\n<li><strong>Internet service providers<\/strong> are <a href=\"https:\/\/bit.ly\/2Ot5s1t\">now required<\/a> to send out notifications to their customers when data usage hits 50%, 75%, and 100% under <strong>new guidelines from the National Telecom Regulatory Authority<\/strong>.<\/li>\n<\/ul>\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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round-macro\/\">SPEED ROUND: MACRO<\/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=\"564909\" 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=\"564909\">\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: TREND WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/\">\r\n                            WTF is an NFT \u2014 and why is it all people can talk about these days?                        <\/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\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/\" 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\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/')\">\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\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/\">\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=WTF is an NFT \u2014 and why is it all people can talk about these days?&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/\">\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\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/&title=WTF is an NFT \u2014 and why is it all people can talk about these days?\">\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=WTF+is+an+NFT+%E2%80%94+and+why+is+it+all+people+can+talk+about+these+days%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F07%2Fwtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days%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\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/417.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564910\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/417-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/417.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"417.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/417.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/417.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564909\" class=\"content-area-description single-story post-564909 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-trend-watch tag-blockchain tag-enterprisepm tag-nfts tag-speed-round-trend-watch 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>SOUND SMART- What the hell is an NFT \u2014 and why is everybody and her sister suddenly <\/strong><strong>talking about them? <\/strong>\u201cThe artist Grimes recently sold a bunch of NFTs for nearly USD 6 mn. An NFT of LeBron James making a historic dunk for the Lakers garnered more than USD 200k. The band Kings of Leon is releasing its new album in the form of an NFT.\u201d<\/p>\n<p><strong>Okay, but you really want to know what an NFT is? <\/strong>It\u2019s a non-fungible token. A unique digital thing recorded on the blockchain as \u2026 uniquely yours \u2014 after you kick over real-world cash (or some BTC) for it.<\/p>\n<p><strong>But \u2026 what is it? <\/strong>Think of it like a both certificate of provenance and ownership for digital art. You buy a clip of video or a GIF or a JPEG, and your ownership recorded on the block chain. You probably don\u2019t get the copyright, and good luck trying to make sure there are no other digital copies out there on the interwebs. But you\u2019re the owner of the \u201cone true video\u201d of Lebron\u2019s dunk. (If you\u2019re willing to believe there\u2019s one true anything in this digital world of ours.)<\/p>\n<p><strong>Can I make an NFT of my own? <\/strong>Sure thing. All you need to do is make a file (a .TXT file of your great novel, say, or a JPG of your bellybutton lint), then upload it to an NFT marketplace where collectors can then start bidding. <a href=\"https:\/\/opensea.io\/\">OpenSea<\/a> bills itself as one of the biggest marketplaces, and there\u2019s already a <a href=\"https:\/\/dappradar.com\/nft\/marketplaces\">league table\u2026<\/a><\/p>\n<p><strong>Okay, so \u2026 show me a real live NFT? <\/strong>Sure thing \u2014 <a href=\"https:\/\/twitter.com\/nba_topshot\/status\/1352694177943834625\">here\u2019s that clip of Lebron dunking<\/a>. Some bozo paid USD 71,455 to \u201cown\u201d it, but you can watch it without charge.<\/p>\n<p><strong>Why are we all suddenly reading about NFTs and \u2026 a week ago nobody had ever heard <\/strong><strong>of them? <\/strong>You may thank the hype machine that is the interwebs.<\/p>\n<p><strong>Want to go deeper? <\/strong><a href=\"https:\/\/www.theverge.com\/22310188\/nft-explainer-what-is-blockchain-crypto-art-faq\">The Verge<\/a> and <a href=\"https:\/\/www.npr.org\/2021\/03\/05\/974089381\/whats-an-nft-and-why-are-people-paying-millions-to-buy-them\">NPR<\/a> have got your back.<\/p>\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\/blockchain\/\">blockchain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nfts\/\">NFTs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round-trend-watch\/\">SPEED ROUND: TREND WATCH<\/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=\"564911\" 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=\"564911\">\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\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/\">\r\n                            Earnings Watch- Alex Medical, Emaar Misr see net profit declines in 2020                        <\/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\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/\" 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\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/')\">\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\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Earnings Watch- Alex Medical, Emaar Misr see net profit declines in 2020&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/\">\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\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/&title=Earnings Watch- Alex Medical, Emaar Misr see net profit declines in 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Earnings+Watch-+Alex+Medical%2C+Emaar+Misr+see+net+profit+declines+in+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F07%2Fearnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020%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\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564911\" class=\"content-area-description single-story post-564911 post type-post status-publish format-standard hentry category-go-with-the-flow tag-earnings-watch tag-emaar-misr tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 rose 2.0% at today\u2019s close<\/strong> on turnover of EGP 954 mn (35.3% below the 90-day average). Foreign investors were net sellers. The index is up 6.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>AMOC (+7.9%), Sidi Kerir (+6.5%) and Orascom Investment (+6.4%).<\/p>\n<p><strong>In the red: <\/strong>Edita (-1.2%), Eastern Co. (-0.2%) and EFG-Hermes (-0.1%).<\/p>\n<p><strong>EARNINGS WATCH- Alexandria New Medical Center\u2019s consolidated net profits were down 15.6% y-o-y to EGP <\/strong><strong>20.85 mn in FY2020<\/strong>, down from a EGP 24.71 mn in FY2019, according to the <a href=\"https:\/\/ent.news\/2021\/3\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%B7%D8%A8%D9%89-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF-%D9%82%D9%88%D8%A7%D8%A6%D9%85-%D9%85%D8%A7%D9%84%D9%8A%D8%A9-31-12-2020.pdf\">company\u2019s financials (pdf)<\/a>. Revenues were up to EGP 225.4 mn, a 5.5% y-o-y increase from EGP 213.7 mn the year before. This comes as Alexandria New Medical\u2019s parent company Alexandria Medical Services has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/595bcf4f-5768-4a09-a61f-639c5b1649b4\">the target of a bidding war<\/a> by multiple firms. There\u2019s Saudi\u2019s Tawasol Holdings, which looks to be wanting to team up with Speed Medical to acquire 100% of the company. Alex Medical had received a competing offer from a consortium of Mabaret Al Asafra Hospitals and investment firm Tana Africa Capital back in January.<\/p>\n<p><strong>Emaar Misr\u2019s consolidated net profits decreased 3.4% y-o-y in FY2020 to EGP 1.67 bn,<\/strong> down from EGP 1.73 bn in FY2019, according to <a href=\"https:\/\/ent.news\/2021\/3\/119396_093337.pdf\">the company\u2019s financials (pdf)<\/a>. Revenues decreased to EGP 4.68 bn, down 17% y-o-y from 5.67 bn in 2019.<\/p>\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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emaar-misr\/\">Emaar Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564912\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564913\" 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=\"564913\">\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\">YOUR HEALTH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/egyptians-are-getting-rounder-and-its-having-a-socio-economic-impact\/\">\r\n                            Egyptians are getting rounder and its having a socio-economic impact                        <\/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\/03\/07\/egyptians-are-getting-rounder-and-its-having-a-socio-economic-impact\/\" 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 study focuses on major conditions resulting from obesity and how evident they are in the country, with some 7 mn Egyptian adult patients suffering from diabetes due to obesity, 13 mn suffer from sleep apnea, 8.5 mn suffer from fatty liver, and almost 6 mn suffer from hypertension.<\/p>\n<p><strong>Obesity-related health problems are causing Egyptians to spend around EGP 50 bn annually<\/strong>, the Novo Nordisk study found. The <a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC5409636\/\">economic burden from obesity<\/a> on countries comes from the increase in health care expenditure, as well as foregone economic growth as a result of lost work days, lower productivity at work, mortality and permanent disability.<\/p>\n<p><strong>2020 saw a stark increase in obesity cases among Egyptians<\/strong>, and while the press release didn\u2019t go into the reasons why, the phenomenon has been explored in <a href=\"https:\/\/pubmed.ncbi.nlm.nih.gov\/33043562\/\">this study published in the National Library for Medicine<\/a>. The study argues that the weight gain last year was caused by lockdowns which resulted from an increase in stress-eating, more snacking on junk food, less exercise, as well as an increase in anxiety which caused bad sleeping habits.<\/p>\n<p><strong>Out of almost 50 mn Egyptian adults, 39.8% suffer from obesity<\/strong>, Novo Nordisk says, citing a survey conducted in 2019 by the ministry\u2019s 100 mn Healthy Lives campaign. Compare this figure to the <a href=\"https:\/\/www.who.int\/news-room\/fact-sheets\/detail\/obesity-and-overweight\">World Health Organization<\/a>\u2019s estimate that 13% of the world\u2019s adult population (11% of men and 15% of women) were obese in 2016, while 39% of adults were overweight.<\/p>\n<p><strong>Egypt has a history with obesity: <\/strong>Back in 2015, Egypt was found to have the highest level of age-standardized adult obesity globally, according to a study published in the <a href=\"https:\/\/www.nejm.org\/doi\/full\/10.1056\/nejmoa1614362\">New England Journal of Medicine<\/a>. The abundance of the condition in the country was attributed to more than just overeating, but also to the quality of ingredients making up the diet of most Egyptians which can lead to dietary insufficiencies.<\/p>\n<p><strong>It\u2019s not just us: <\/strong>Globally, the average adult is three times more likely to be obese today compared to 1975 and <a href=\"https:\/\/www.weforum.org\/agenda\/2016\/11\/this-map-shows-the-rapid-increase-in-global-obesity\/\">We Forum<\/a> released an animated map in 2016 that changes colors as obesity rates changed throughout the past years. The map shows Egypt\u2019s obesity rate rising over 25% in 1997 and over 30% in 2006, while countries such as the US and Saudi Arabia hit the over 30% mark earlier.<\/p>\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\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/your-health\/\">YOUR HEALTH<\/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=\"564915\" 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=\"564915\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise explains<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/etfs-and-the-corona-crash\/\">\r\n                            ETFs and the corona crash                        <\/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\/03\/07\/etfs-and-the-corona-crash\/\" 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\/03\/07\/etfs-and-the-corona-crash\/')\">\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\/03\/07\/etfs-and-the-corona-crash\/\">\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=ETFs and the corona crash&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/etfs-and-the-corona-crash\/\">\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\/03\/07\/etfs-and-the-corona-crash\/&title=ETFs and the corona crash\">\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=ETFs+and+the+corona+crash+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F07%2Fetfs-and-the-corona-crash%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\/03\/07\/etfs-and-the-corona-crash\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/420.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564916\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/etfs-and-the-corona-crash\/420-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/420.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"420.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/420.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/420.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564915\" class=\"content-area-description single-story post-564915 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-bank-of-international-settlements tag-bonds tag-enterprise-explains tag-enterprisepm tag-etfs tag-financial-markets wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>Bond ETF providers may have played dirty to prevent a corona-inspired exodus last <\/strong><strong>March.<\/strong> This is what the <a href=\"https:\/\/www.bis.org\/publ\/qtrpdf\/r_qt2103d.htm\">Bank of International Settlements<\/a> seems to suggest in a paper earlier this month when it tried to explain why ETFs were trading at such huge discounts to their underlying assets at the height of the covid panic last year. But understanding exactly what they\u2019re getting at here requires that we have a grasp on how the ETF market functions.<\/p>\n<p><strong>Why does this matter? The popularity of bond ETFs has surged over the past decade<\/strong>, with funds now managing more than USD 1.2 tn assets, compared to less than USD 10 bn in 2009.<\/p>\n<p><strong>The basics:<\/strong> ETFs are funds that are designed to track the performance of another asset or market, be that an equity index, a commodity or a currency. This means that in theory the value of an ETF will ebb and flow with the value of the underlying asset, or net asset value (NAV).<\/p>\n<p><strong>As we know from last year though, this doesn\u2019t always happen.<\/strong> Sometimes the market will price an ETF below the value of the underlying assets (called a discount to NAV) and other times it might be more expensive (otherwise known as a premium to NAV).<\/p>\n<p><strong>\u201cAuthorized participants\u201d are the most important players in this space:<\/strong> Before we can get a handle on how ETF prices are adjusted, we need to understand a bit about the principal ETF market makers. Large banks otherwise known as so-called \u201cauthorized participants\u201d (APs) are responsible for creating and redeeming shares of an ETF, and act as intermediaries between investors and the ETF provider.<\/p>\n<p><strong>Creating and redeeming ETF shares:<\/strong> This group of financial institutions purchase the assets the ETF provider wants to have in its portfolio and hands them over to the provider, receiving ETF shares in return which they then sell on to investors. The redemption process works in the opposite way: investors sell ETF shares to the APs which then either hold onto them or hand them back to the ETF provider, receiving either the underlying asset or cash in return.<\/p>\n<p><strong>It is through this mechanism that ETF prices are aligned with the underlying assets:<\/strong> APs take advantage of cheap ETFs by purchasing shares in the secondary markets and redeeming them with the ETF provider, netting a profit when they sell the more expensive underlying asset. This brings the price of the ETF back into alignment by trimming the supply of ETF shares and raising the supply of underlying assets. The same principle applies when the fund is trading at a premium: the APs are incentivized to decrease the supply of the underlying asset and create more ETF shares, thus lowering the price of the ETF.<\/p>\n<p><strong>So what happened last March?<\/strong> At the height of the sell-off in the financial markets in March 2020, huge gaps opened between the share price of bond ETFs and their NAV, indicating that the arbitrage mechanism in the market had broken down. The two biggest bond ETFs \u2014 Vanguard\u2019s USD 55 bn total bond market ETF and BlackRock\u2019s USD 71 bn iShares core US aggregate bond ETF \u2014 <a href=\"https:\/\/www.ft.com\/content\/d9bbf8ee-6518-11ea-abcc-910c5b38d9ed\">traded at a 6.2% discount and a 4.43% discount<\/a> respectively on 12 March.<\/p>\n<p><strong>And why did the arbitrage fail?<\/strong> In an effort to protect themselves from the market sell-off, the BIS believes that ETF providers handed over low-quality bonds to the APs. This does two things: not only does it dissuade the APs from redeeming more of their shares, but it also shores up confidence among investors by removing risky assets from the portfolio.<\/p>\n<p><strong>A shock absorber that comes at a price:<\/strong> Author of the report Karamfil Todorov describes this tactic as a \u201cshock absorber\u201d deployed by ETF providers during sell offs but warns that it also puts providers\u2019 reputations at risk. Investors, seeing the provider short-changing the APs with junk bonds, may convince them to abandon the fund, he writes.<\/p>\n<p><strong>WANT MORE ON THE BASICS OF ARBITRAGE? <\/strong>Check this brief explainer brought to you by Khan Academy (<a href=\"https:\/\/www.youtube.com\/watch?v=AuCH7fHZsZ4\">watch, runtime: 2:50<\/a>).<\/p>\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\/bank-of-international-settlements\/\">Bank of International Settlements<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-explains\/\">Enterprise Explains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/etfs\/\">ETFs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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=\"564917\" 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\/03\/07\/your-essential-business-calendar-on-7-march-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564917\" class=\"content-area-description single-story post-564917 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>March: Potential visit to Cairo by Russian President Vladimir Putin.<\/p>\n<p>8 March (Monday): The <a href=\"https:\/\/www.idc.com\/mea\/events\/67992-idc-future-of-work#category_10\">IDC Future of Work Egypt<\/a> conference will be held virtually featuring experts from Egypt and Jordan.<\/p>\n<p>9-11 March (Tuesday-Thursday): EduGate 2021 \u2013 Enter The Future conference, Kempinski Royal Maxim Hotel, Cairo, Egypt.<\/p>\n<p>11-12 March (Thursday-Friday): Sudan\u2019s Prime Minister Abdalla Hamdok will arrive for a two-day visit to follow up on GERD talks.<\/p>\n<p>11-13 March (Thursday-Saturday): <a href=\"https:\/\/www.cairofashiontex.com\/\">Cairo Fashion & Tex<\/a> trade show, Cairo International Convention Centre, Cairo, Egypt<\/p>\n<p>11-14 March (Thursday-Sunday): First edition of Afaq Real Estate Expo, Tolip El Galaa Hotel, Cairo, Egypt.<\/p>\n<p>11-15 March (Thursday - Monday): Al Bazaar fair for handicrafts and house decors, Cairo International Conference Centre, Cairo, Egypt.<\/p>\n<p>11-20 March (Thursday-Saturday): Photopia\u2019s <a href=\"http:\/\/bit.ly\/3qeZi2a\">Cairo Photo Week 2021<\/a> will take place with this year\u2019s theme being Depth OFF Field.<\/p>\n<p>18 March (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>23 March (Tuesday): The second edition of the <a href=\"https:\/\/tinyurl.com\/vf98kbgf\">Egypt Retail Summit<\/a> takes place at the Nile Ritz Carlton hotel.<\/p>\n<p>25-27 March (Thursday-Saturday): <a href=\"https:\/\/www.therealgate.com\/visit\/register-your-interest-to-visit\/\">The Real Gate real estate exhibition<\/a>, Egyptian International Exhibition Center, Cairo.<\/p>\n<p>29-30 March (Monday-Tuesday): <a href=\"https:\/\/arab-exchanges.org\/conference\/\">Arab Federation of Exchanges Annual Conference<\/a> 2021.<\/p>\n<p>31 March (Wednesday): Deadline to visit the moroor and get an RFID sticker affixed to your car\u2019s windshield \u2014 or run afoul of the Traffic Police.<\/p>\n<p>1-3 April (Thursday-Saturday): <a href=\"http:\/\/hvacregypt.com\/\">HVAC-R Egypt Expo<\/a>.<\/p>\n<p>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/p>\n<p>13 April (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC),<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Easter Sunday.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>25-28 May (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/p>\n<p>1 June (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>7 June-9 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on on to the e-invoicing platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will suffer a host of penalties<\/a>, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday)<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): <a href=\"https:\/\/www.egypt-projects.com\/\">Egypt Projects 2021<\/a> expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a> opens.<\/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>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): <a href=\"https:\/\/ukcop26.org\/\">2021 United Nations Climate Change Conference<\/a> (COP26), Glasgow, United Kingdom.<\/p>\n<p>13-17 December: <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/396604\/Egypt\/Politics-\/Egypt-to-host-UN-anticorruption-conference-in-.aspx\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>27 June - 3 July 2022 (Monday-Sunday): <a href=\"https:\/\/www.insidethegames.biz\/articles\/1103867\/fisu-world-university-squash-new-giza\">World University Squash Championships<\/a>, 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\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":564903,"template":"","categories":[],"tags":[],"class_list":["post-564902","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"60d59bf3-f1d9-4b77-afb6-14aa813dd66f","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/415.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>WTF is an NFT \u2014 and why are we all talking about them? - 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\/wtf-is-an-nft-and-why-are-we-all-talking-about-them\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WTF is an NFT \u2014 and why are we all talking about them?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/wtf-is-an-nft-and-why-are-we-all-talking-about-them\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:44:15+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/415.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\/wtf-is-an-nft-and-why-are-we-all-talking-about-them\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/wtf-is-an-nft-and-why-are-we-all-talking-about-them\/\",\"name\":\"WTF is an NFT \u2014 and why are we all talking about them? 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