{"id":564992,"date":"2021-03-11T13:37:44","date_gmt":"2021-03-11T13:37:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=564992"},"modified":"2025-12-16T04:46:42","modified_gmt":"2025-12-16T04:46:42","slug":"enterprise-idh-could-list-on-the-egx-within-two-months","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-idh-could-list-on-the-egx-within-two-months\/","title":{"rendered":"Enterprise IDH could list on the EGX within two months."},"content":{"rendered":"<section id=\"564994\" 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=\"564994\">\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\/11\/what-were-tracking-tonight-on-11-march-2021\/\">\r\n                            What we\u2019re tracking tonight on 11 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\/11\/what-were-tracking-tonight-on-11-march-2021\/\" 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 conclusion is extrapolated from a telephone survey of just over 3k people. The highest incidence of cases occurred in November and December, Baseera says, with an estimated 864k people infected in those two months. Some 72% respondents said a physician had confirmed their diagnosis, 61% had blood tests, 56% underwent chest CTs, 23% took a PCR test, and 1.3% were diagnosed by other methods. <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2278319\">Al Masry Al Youm<\/a> has the story.<\/p>\n<p><strong>Officials have long said that the official case count under-represents the extent to which <\/strong><strong>the virus has spread in Egypt. <\/strong>The Health Ministry\u2019s <a href=\"https:\/\/bit.ly\/30yR3Du\">official tally<\/a> shows 188k cases reported through government labs as of yesterday. A similar Baseera poll <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfeb522b-8ce9-4e1e-8341-234f43abf1c3\">in June 2020<\/a> found that 600k people had been infected with covid-19; the ministry\u2019s official figure then stood at 57k. The June poll had put the number of people who had been hospitalized at roughly 74k individuals \u2014 a figure Baseera had said is within the same rough ballpark as the official case tally.<\/p>\n<p><strong>YOUR STATUTORILY REQUIRED COVID STORY for the afternoon: Trials of Russia\u2019s <\/strong><strong>Sputnik V covid-19 vaccine in the UAE have completed the inoculation phase<\/strong> after 1k volunteers received the second dose of the vaccine, the Abu Dhabi Media Office announced on <a href=\"https:\/\/bit.ly\/3l7gIMU\">Twitter<\/a>. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-11\/uae-trials-show-russian-vaccine-has-91-6-efficacy\">Bloomberg<\/a> also has the story. Sputnik has been reported to have a 91.6% effectiveness.<\/p>\n<p><strong>GlaxoSmithKline (GSK) and Vir Biotechnology\u2019s antibody therapy reduces the risk of <\/strong><strong>death by 85% in severe covid-19 cases<\/strong>, studies revealed, GSK said in a <a href=\"https:\/\/www.gsk.com\/en-gb\/media\/press-releases\/vir-biotechnology-and-gsk-announce-vir-7831-reduces-hospitalisation-and-risk-of-death-in-early-treatment-of-adults-with-covid-19\/\">press release<\/a>. The therapy has also proven effective against variants from Brazil, the UK and South Africa. The two companies will immediately seek emergency use authorization in the US and other countries.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>HAPPENING NOW- <\/strong><strong>The ban on new construction permits has *not* been extended for <\/strong><strong>another six months<\/strong>, according to a <a href=\"https:\/\/bit.ly\/38rMVd2\">cabinet statement<\/a> issued in response to unconfirmed news reports out this morning. The Madbouly government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec8c2b4f-f425-443e-ad0a-82c4e82b1578\">imposed<\/a> in May 2020 a six-month ban on construction permits in urban centers in response to ongoing building code violations. The restrictions <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dbaf5cf0-9da6-413f-a6f1-55558d0082da\">were relaxed<\/a> in September to allow for work to resume on buildings of four storeys or less, but the ban has remained in place for other permits. An industry lobby group said earlier this week that as many <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9121904d-b6c9-4d71-bf06-5a6205316f4e\">as 5 mn casual laborers<\/a> have been impacted by the ban.<\/p>\n<p><strong>*** Expect workplace safety to be a big theme next week <\/strong>amid news just at dispatch time this afternoon that at least 20 workers were killed and 24 injured in a fire that broke out today at a garment factory in Obour. <a href=\"https:\/\/bit.ly\/38wmXoB\">Youm7<\/a> has the still-developing story.<\/p>\n<p><strong>Sudanese <\/strong><strong>Prime Minister Abdalla Hamdok and a delegation of <\/strong><strong>ministers <\/strong><strong>arrived in Cairo today<\/strong> for a two-day visit, according to the <a href=\"https:\/\/twitter.com\/SUNA_AGENCY\/status\/1369951635087167488\">Sudan News Agency<\/a>. They\u2019ll talk bilateral ties and the Grand Ethiopian Renaissance Dam (GERD) with their Egyptian counterparts, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1877689135742776\">cabinet statement<\/a>. The visit comes after President Abdel Fattah El Sisi\u2019s Saturday <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f91bc836-d4ab-4904-93cc-92b56f6cca40\">visit to Khartoum<\/a> and has already seen Hamdok <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1109255219593857\">meet with<\/a><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1109255219593857\">El Sisi<\/a>, and a joint press conference is likely in the cards. Also on tap: a series of meetings with Prime Minister Mostafa Madbouly, an unnamed Sudanese source told <a href=\"http:\/\/bit.ly\/3qEOc6y\">Al Shorouk<\/a>. Hamdok also plans on meeting the Sudanese community in Egypt, the source added. Egypt and Sudan have previously agreed to cooperate in projects in fields such as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">electrical interconnection<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7cd1926-e893-4996-8245-32b59c347e28\">infrastructure<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e563ccd-91a6-4bb8-b55b-118636331ec7\">water management<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dccf473a-1577-4243-9e1b-f271fb01c228\">transport<\/a>.<\/p>\n<p><strong>The European Central Bank is expected to signal today at around 3:30 pm local time<\/strong> (1:30 pm GMT) whether it will act to slow or stop rising bond yields, which analysts fear could \u201charm the bloc\u2019s economic outlook,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-global-forex\/dollar-drops-to-one-week-low-focus-on-european-central-bank-meeting-idUSKBN2B301V\">Reuters reports<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>There\u2019s no single news story dominating the news agenda in the global business press. <\/strong>The <a href=\"https:\/\/www.ft.com\/content\/772666d8-d797-4339-8587-a72349f51b96\">Financial Times<\/a> is leading with what it says will likely be <strong>controversy over the European Union\u2019s market access agreement with Beijing<\/strong>, while the <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-03-11-2021-11615452205?mod=hp_lead_pos1\">Wall Street Journal<\/a> reports that stock futures point to shares on <strong>Wall Street opening in the green<\/strong> a day after the Dow closed at another record high. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-11\/the-winners-and-losers-from-surging-oil-and-commodity-prices?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>, meanwhile, looks at <strong>who will benefit and who\u2019s going to get squeezed by surging oil and commodity prices<\/strong>.<\/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>We have enough vaccines to inoculate everyone who has (so far) registered<\/strong> with the Health Ministry \u2014 and more on the way<\/li>\n<li><strong>Economic growth picked up in the second quarter<\/strong> of the state\u2019s 2020-2021 fiscal year.<\/li>\n<li><strong>Hassan Allam Utilities is looking to expand into transport<\/strong> through a reverse merger with Egytrans.<\/li>\n<\/ul>\n<p><strong>KUDOS- Members of the U.S.-Egypt Business Council <\/strong><strong><a href=\"https:\/\/www.uschamber.com\/series\/above-the-fold\/advancing-social-impact-initiatives-and-connecting-dots-enrich-lives-egypt\">contributed to the purchase of<\/a><\/strong><strong><a href=\"https:\/\/www.uschamber.com\/series\/above-the-fold\/advancing-social-impact-initiatives-and-connecting-dots-enrich-lives-egypt\">medical supplies<\/a><\/strong><strong> for 300 hospitals<\/strong>, 1k primary health care units, and 50 quarantine hospitals across the country, <a href=\"https:\/\/usegbc.s3.us-east-1.amazonaws.com\/Egypt-CSR-2021_USEgyptBusinessCouncil.pdf\">according to a council report<\/a> released yesterday. The report focuses on social impact projects of 14 US companies including Apache, Citi, and ExxonMobil, to alleviate economic, educational, health, social and environmental challenges.<\/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>STUFF TO DO THIS WEEKEND-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong><a href=\"https:\/\/www.lemarcheexpo.com\/\">Le March\u00e9<\/a><\/strong><strong>, the anchor of the annual expo scene, is on today through Sunday <\/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>Photopia\u2019s <\/strong><strong><a href=\"http:\/\/bit.ly\/3qeZi2a\">Cairo Photo Week 2021<\/a><\/strong><strong> is kicking off today <\/strong>and will run 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><strong>The <\/strong><strong><a href=\"https:\/\/www.cairofashiontex.com\/\">Cairo Fashion & Textile Expo<\/a><\/strong><strong> trade show<\/strong> opened its doors today at the Cairo International Convention Center tomorrow and runs until Saturday.<\/p>\n<p><strong>The handicraft and home decor show Al Bazaar <\/strong>kicks off at the Cairo International Conference Centre today and <a href=\"https:\/\/bit.ly\/3l3ItWO\">will run until<\/a> 20 March.<\/p>\n<p><strong>The Marketers League runs this Saturday and Sunday, 13-14 March<\/strong>, at Kundalini Grand Pyramids Hotel in Giza. This year\u2019s theme is <a href=\"https:\/\/beyondthepandemic.marketers-league.com\/\">Beyond the Pandemic<\/a> with panelists and speakers including our friend <strong>Tarek Nour<\/strong> (founder of Tarek Nour Communications), <strong>Ayman Hegazi<\/strong> (CEO of Allianz), <strong>Sherine Zaklama<\/strong> (CEO, Rada Research and Public Relations), and <strong>Walid Hassouna<\/strong> (CEO, EFG Hermes Finance).<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Life coach <\/strong><strong><a href=\"https:\/\/arfeenkhan.com\/\">Arfeen Khan<\/a><\/strong><strong> is giving a talk<\/strong> at a virtual AmCham event on <strong>Monday, 15 March<\/strong>.<\/p>\n<p><strong>Talking sustainable manufacturing with BEBA: <\/strong>The British-Egyptian Business Association (BEBA) will host a virtual conference on how Egyptian and UK firms can work together on sustainable manufacturing projects in Africa in the post-Brexit environment on Tuesday, 23 March. Check out the agenda <a href=\"https:\/\/ent.news\/2021\/3\/uk-egypt-partnership-for-the-promotion-of-sustainable-manufacturing-in-africa_official-programme.pdf\">here (pdf)<\/a>.<\/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>Egyptologists are using Assassin\u2019s Creed: Origins to teach history<\/strong> in a six-part Twitch series titled <a href=\"https:\/\/playing-in-the-past.com\/\">Playing in the Past<\/a> that uses digitally recreated worlds to explore history, <a href=\"https:\/\/www.thegamer.com\/egyptologists-assassins-creed-origins-teach-history\/\">The Gamer<\/a> reports. Set in Ptolemaic Egypt, the 10th installment of video game publisher Ubisoft\u2019s franchise features a \u201c<a href=\"https:\/\/www.ubisoft.com\/en-gb\/game\/assassins-creed\/discovery-tour\">Discovery Tour<\/a>\u201d mode that can be purchased separately, and lets visitors freely roam Ancient Egypt to learn more about its history and daily life with built in tours. Egyptologist Chris Naunton, who leads the show, touted the video game as \u201cthe best visualization of Ancient Egypt.\u201d Also worth noting: the 11th installment of the franchise, Odyssey, features a discovery tour mode for Ancient Greece.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p>(All times in CLT)<\/p>\n<p><strong>Back to old school comfort TV:<\/strong> <a href=\"https:\/\/www.imdb.com\/title\/tt13161310\/\">Dream Home Makeover<\/a> on Netflix is a pause-able continuation of what many over-40s experienced staring at the TV set late at night \u2014 and if you\u2019re younger, we\u2019re thinking odds are good you sat through some of it with your parents. Drawing from \u2018classics\u2019 such as Extreme Home Makeover, the show takes on a new project every episode from kitchens to movie rooms to entire condos.<\/p>\n<p><strong>Singer Sherine has made it to Netflix<\/strong>, with her 2015 series My Way (<a href=\"https:\/\/www.imdb.com\/title\/tt5528490\/\">Tareeky<\/a>) recently added to the streaming platform\u2019s roster. Set in the 1970s, Sherine plays Dalila, whose dream is to become a famous singer \u2014 to the dismay and fury of her aristocratic mother.<\/p>\n<p><strong>A film about an innocent man held at Guant\u00e1namo \u2014 <\/strong><strong><a href=\"http:\/\/bit.ly\/3cjqiZo\">The Mauritanian<\/a><\/strong><strong> \u2014 is in cinemas <\/strong><strong>nationwide.<\/strong> The flick is based on the experience of Mohamedou Ould Slahi, a Mauritanian man who was held without charge for 14 years at Guant\u00e1namo and repeatedly tortured. Slahi was arrested during the 9\/11 attacks because of alleged connections to Al Qaeda. <a href=\"https:\/\/www.bbc.com\/culture\/article\/20210218-exposing-life-inside-the-worlds-most-notorious-prison\">BBC<\/a> hails the piece as shedding light on the realities of the US military prison, while <a href=\"https:\/\/www.nytimes.com\/2021\/02\/11\/movies\/the-mauritanian-review.html\">The New York Times<\/a> is too stressed to enjoy the film, saying \u201cAfter weathering almost five years of rolling political scandals, American audiences could be less than eager to be reminded of one more.\u201d<\/p>\n<p><strong>Zamalek is playing Ceramica Cleopatra tonight at 7:30pm in the Egyptian Premier <\/strong><strong>League. <\/strong>Smouha will face off against Aswan tomorrow at 3pm, while Saturday will see Al Mokawloon play versus Ghazl El Mahalla at 3pm and Enppi taking on Al Masry at 7pm.<\/p>\n<p><strong>The Europa League is going strong with eight matches on tonight. <\/strong>Among the fixtures to look out for: Manchester United against Milan at 7:55pm. At 10pm we have three matches: Olympiacos versus Arsenal, Tottenham and Dinamo Zagreb, and Roma\u2019s face off with Shakhtar Donetsk at 10pm.<\/p>\n<p><strong>Both The English Premier League and La Liga have one match on tomorrow and four on <\/strong><strong>Saturday: <\/strong>Newcastle will go up against Aston Villa tomorrow at 10pm. Saturday will start off with Leeds United facing off with Chelsea at 2:30pm, while Crystal Palace and West Brom will play at 5pm, Everton and Burnley at 7:30pm, and Fulham and Manchester City at 10pm.<\/p>\n<p>In <strong>La Liga<\/strong>, Levante will go head-to-head with Valencia tomorrow at 10pm, while Saturday will see Alaves play against Cadiz at 3pm, Real Madrid against Elche at 5:15pm, Osasuna against Valladolid at 7:30pm, and Getafe against Atletico Madrid at 10pm.<\/p>\n<p><strong>Finally, Serie A has two matches tomorrow and three on Saturday: <\/strong>Tomorrow, Lazio will play against Crotone at 4pm and Atalanta against Spezia at 9:45pm. Meanwhile on Saturday, Sassuolo will play against Verona at 4pm, Benevento will kick off against Fiorentina at 7pm, and Genoa will hit the field with Udinese at 9:45pm.<\/p>\n<p><strong>?EAT THIS OVER THE WEEKEND-<\/strong><\/p>\n<p><strong>Artisanal food boutique Carmel has an open buffet brunch every Friday and Saturday<\/strong> boasting assorted sandwiches, salads, quiche, mini bagels, pizza, and desserts. The mouthwatering display of munchies is set out from 10am-4pm while breakfast is served all day at the New Cairo restaurant (<a href=\"https:\/\/bit.ly\/3t9eYWt\">Google Maps<\/a>). Their dishes are all intricately put together such as their tarts, mille-feuille, and eclairs. We might be highlighting their breakfast dishes, but their all-day menu is also fantastic. We recommend their fish and chips and their salmon fillet. Not convinced yet? Check out their Instagram @carmel_egypt and thank us later.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p>(All times in CLT)<\/p>\n<p><strong>The Cairo Opera is celebrating iconic singer Mohamed Abdelwahab\u2019s birthday<\/strong> with <a href=\"http:\/\/bit.ly\/2OlD3dR\">a<\/a><a href=\"http:\/\/bit.ly\/2OlD3dR\">concert<\/a> led by Selim Sehab while Safwan Bahlawan and Mai Farouk will be performing today at 8pm. Abdelwahab would have been 120 this Saturday, with his birthday reported to be <a href=\"https:\/\/www.idolbirthdays.net\/mohamed-abdel-wahab\">13 March 1901<\/a>.<\/p>\n<p><strong>Sheikh Zayed\u2019s Walk of Cairo has a lot going on tomorrow: <\/strong>Red Bull is hosting its dance battle <a href=\"http:\/\/bit.ly\/3ldefRq\">Dance Your Style<\/a> tomorrow where dancers can hop on the dancefloor and improvise their choreography with random music. The audience will act as judges. Meanwhile, the Cairo Flea market will be having a <a href=\"http:\/\/bit.ly\/3by8MBp\">Mother\u2019s Day Festival<\/a> on tomorrow from 11am-10pm featuring local art, handmade bags, vintage treasures, and upcycled items.<\/p>\n<p><strong>New Cairo\u2019s Point90 also has a Mother\u2019s Day Bazar this weekend.<\/strong> If, like us, you had forgotten about Mother\u2019s Day and are now panicking, there\u2019s still time to treat your mama right: Egyptian Mother\u2019s Day isn\u2019t until 21 March.<\/p>\n<p><strong>A BlaBla <\/strong><strong><a href=\"http:\/\/bit.ly\/3t0NfXY\">language exchange meetup<\/a><\/strong><strong> is taking place tonight at 7pm at Dawar <\/strong>in Downtown Cairo (<a href=\"https:\/\/goo.gl\/maps\/b3QEgBTo7Wbpy1bM9\">Google Maps<\/a>). Attendees can practice Italian, German, or French while meeting new people.<\/p>\n<p><strong>Visual arts competition and exhibition <\/strong><strong><a href=\"http:\/\/bit.ly\/30yrzWY\">Roznama 8<\/a><\/strong><strong> is opening today at Medrar.<\/strong> The competition was set up by the Contemporary Image Collective (CIC) who gathered a jury of artists who selected 34 artworks from over 500 applicants under the age of 35. The selected pieces range from photography, moving images, painting, graphic art, sculpture, to installations and mixed media creations by young Egyptian artists. From the 34 artworks, three will be named best of show on 25 March and the artists responsible for them will be able to pursue an art residency in the Netherlands, France, or Switzerland.<\/p>\n<p><strong>LIVE STREAMED- The Cairo Classical Ensemble will perform <\/strong><strong><a href=\"http:\/\/bit.ly\/3v9Qzlg\">Spring Love Themes<\/a><\/strong><strong> at 8pm<\/strong> in an event organized by the AUC Center for the Arts. The ensemble performs works by Mozart, Cimarosa and Piazzolla for oboe and string quartet. You can find the livestream link in the event details.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong><a href=\"https:\/\/amzn.to\/2PRrE63\">The Hard Thing About Hard Things<\/a><\/strong><strong> sees Andreessen Horowitz co-founder Ben Horowitz<\/strong> <strong>relating his personal experience<\/strong> to veteran entrepreneurs as well as those aspiring to create their own new ventures. The high-profile venture capitalist offers essential advice on building and running a startup \u2014 and the challenges you\u2019ll face along the way. Bonus: He\u2019s also an avid rap fan and he amplifies business lessons with lyrics from his favorite songs.<\/p>\n<hr class=\"grey-line\">\n<p><strong>? WEEKEND<\/strong><strong> WEATHER- <\/strong>We\u2019re in for another sunny day tomorrow, with daytime highs of 25\u00b0C and lows of 11\u00b0C, our favorite weather app tells us. Saturday will be the same, but the temperature will go up on Sunday to 28\u00b0C.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdalla-hamdok\/\">Abdalla Hamdok<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- 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href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"564995\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n           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class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-vx12atz\" data-v=\"4\" data-block-id=\"vx12atz\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-vx12atz-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-vx12atz-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-kqhjzu1\" data-v=\"4\" data-block-id=\"kqhjzu1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-kqhjzu1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-kqhjzu1-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\" 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239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564996\" 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=\"564996\">\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: IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/idh-could-list-on-the-egx-within-two-months\/\">\r\n                            IDH could list on the EGX within two months                        <\/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\/11\/idh-could-list-on-the-egx-within-two-months\/\" 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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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\/11\/idh-could-list-on-the-egx-within-two-months\/&title=IDH could list on the EGX within two months\">\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=IDH+could+list+on+the+EGX+within+two+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F11%2Fidh-could-list-on-the-egx-within-two-months%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\/11\/idh-could-list-on-the-egx-within-two-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/448.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564997\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/idh-could-list-on-the-egx-within-two-months\/448-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/448.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"448.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/448.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/448.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564996\" class=\"content-area-description single-story post-564996 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-ipo-watch tag-capital-markets tag-egx tag-enterprisepm tag-integrated-diagnostics-holding tag-ipo-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-01\"><\/a> <strong>Consumer healthcare giant IDH could go ahead with its dual listing<\/strong><strong> on the EGX <\/strong><strong>within <\/strong><strong>two months<\/strong>, <a href=\"https:\/\/alborsaanews.com\/2021\/03\/11\/1424408\">sources close to the matter told local media<\/a>. Earlier <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60502ff9-66f9-4b0e-939d-b8d68cfe0863\">reports in Al Mal<\/a> had suggested that London-listed IDH could pull the trigger on its dual listing sometime in February, although the company <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/idh\/Integrated-Diagnostics-Holdings-plc-EGM-Circular.pdf\">has only guided on a timeline of 1H2021<\/a>. IDH is the market leader in Egypt\u2019s diagnostics sector with the Al Borg and Al Mokhtabar brands, has diversified into radiology and has a strong presence in Jordan, Sudan and Nigeria. The company declined to comment on the report when we reached out earlier today.<\/p>\n<p><strong>It\u2019s unlikely the company will offer new equity for sale. <\/strong>IDH said in December that it would need to offer at least 5% of its shares on the EGX to retail or institutional investors to meet freefloat requirements. Shareholders also signed off on a 1 to 4 stock split. That doesn\u2019t mean a stock split is in the cards, as the company and its bankers could convince some existing holders of LSE-listed shares to transfer their stakes to the EGX.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes and Renaissance Capital are quarterbacking the transaction, while White & Case, Clifford Chance and Ogier are counsel. Inktank is IDH\u2019s investor relations advisor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO 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=\"564998\" 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=\"564998\">\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: REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/\">\r\n                            Timeline for all companies to join e-invoicing system announced                        <\/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\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/\" 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\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/')\">\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\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/\">\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=Timeline for all companies to join e-invoicing system announced&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/\">\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\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/&title=Timeline for all companies to join e-invoicing system announced\">\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=Timeline+for+all+companies+to+join+e-invoicing+system+announced+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F11%2Ftimeline-for-all-companies-to-join-e-invoicing-system-announced%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\/11\/timeline-for-all-companies-to-join-e-invoicing-system-announced\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564998\" class=\"content-area-description single-story post-564998 post type-post status-publish format-standard hentry category-speed-round-regulation-watch tag-enterprisepm tag-finance-ministry tag-regulation-watch tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>EXCLUSIVE- FinMin releases timeline for nationwide rollout of B2B <\/strong><strong>e-invoicing system:<\/strong> The Finance Ministry is planning to gradually rollout the e-invoicing system for all B2B transactions across various governorates after all large taxpayers join the system on 1 July 2021, Mohsen El Gayar, director of taxpayer services at the Tax Authority, tells us.<\/p>\n<p><strong>Companies in Cairo, Alexandria and governorates west of the Nile Delta will need to log <\/strong><strong>all of their business-to-business invoices in the system before the end of this year. <\/strong>Firms in the Suez Canal cities and in governorates east of the Nile Delta will be brought into the fold by 1H2022. Upper Egypt-based companies will join the system by the end of 2022, he added. The Finance Ministry hopes to see all companies issuing B2B invoices using the system by April 2023.<\/p>\n<p><strong>Wait, does that mean I don\u2019t have to join in July?<\/strong> If you\u2019re counted as a large taxpayer, then you must have signed up by 1 July 2021. The longer rollout period ending in 2023 is only for companies not on the roll of large taxpayers. Large taxpayers (which number at around 2.8k companies) who don\u2019t join the system <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will face penalties<\/a> that include inclusion in the Tax Authority\u2019s black list and being denied basic government services.<\/p>\n<p><strong>What is this e-invoicing system, you ask?<\/strong> We have a primer on the system, its purpose, the timeline of implementation along with a list of phase one companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">here<\/a>.<\/p>\n<p><strong>CATCH UP QUICK- <\/strong><\/p>\n<ul>\n<li><strong>The Egyptian Credit Bureau (iScore) is launching an electronic system that would <\/strong><strong>update banks on whether someone is deceased<\/strong>, iScore Chairman Mohamed Kafafi told <a href=\"https:\/\/bit.ly\/3vgm7WI\">Al Mal<\/a>. The system, which is currently in the trial phase, will launch at the end of June, he adds.<\/li>\n<\/ul>\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-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"564999\" 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=\"564999\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/the-markets-on-11-march-2021\/\">\r\n                            The markets on 11 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\/11\/the-markets-on-11-march-2021\/\" 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\/11\/the-markets-on-11-march-2021\/')\">\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\/11\/the-markets-on-11-march-2021\/\">\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 markets on 11 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/the-markets-on-11-march-2021\/\">\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\/11\/the-markets-on-11-march-2021\/&title=The markets on 11 March 2021\">\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+markets+on+11+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F11%2Fthe-markets-on-11-march-2021%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\/11\/the-markets-on-11-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564999\" class=\"content-area-description single-story post-564999 post type-post status-publish format-standard hentry category-go-with-the-flow tag-earnings-watch tag-enterprisepm tag-go-with-the-flow tag-ma-watch tag-mm-group tag-remco-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 fell for a third day in a row, shedding 0.2% at today\u2019s close<\/strong> on turnover of EGP 1.2 bn (19.1% below the 90-day average). Local investors were net buyers. The index is up 3.8% YTD.<\/p>\n<p><strong>In the green: <\/strong>Orascom Investment (+5.4%), Orascom Financial (+3.1%) and Edita (+2.2%).<\/p>\n<p><strong>In the red: <\/strong>MM Group (-1.3%), Cleopatra (-1.0%) and Abu Qir Fertilizers (-1.0%).<\/p>\n<p><strong>EARNINGS WATCH- MM Group reported a 20.3% y-o-y decline in net income in FY20 to EGP 366 mn<\/strong>, down from EGP 459 mn in FY19, the consumer stalwart said in its annual <a href=\"https:\/\/ent.news\/2021\/3\/MM-group-Q4-2020-earnings.pdf\">earnings statement (pdf)<\/a>. The company\u2019s consolidated revenues fell 11.7% y-o-y to EGP 8.7 bn, down from EGP 9.8 bn in the same period last year. The company\u2019s consumer electronics division (accounting for more than 69% of consolidated revenues) came under pressure as mobile segment revenues fell just over 21%. Revenues at its telecoms business were down nearly 10% while revenues at its automotive business were flat due to timing differences on deliveries that pushed more than 100 units to 1Q2021.<\/p>\n<p><strong>M&A WATCH- Remco\u2019s EGM has approved a bid from Bayt El Khebra\u2019s Technolease to acquire 99.95% <\/strong><strong>stake in Orient Tours<\/strong>, the company said in an <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/119605_094906.pdf\">EGX disclosure<\/a>. Remco\u2019s stake in Orient Tours is worth around EGP 1.09 bn according to a valuation by Solid Capital Financial Advisory.<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/mm-group\/\">MM Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/remco-group\/\">Remco Group<\/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=\"565000\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"565001\" 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=\"565001\">\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\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/\">\r\n                            You can\u2019t just say nice green things and call yourself an ESG investor                        <\/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\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/\" 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\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/')\">\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\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/\">\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=You can\u2019t just say nice green things and call yourself an ESG investor&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/\">\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\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/&title=You can\u2019t just say nice green things and call yourself an ESG investor\">\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=You+can%E2%80%99t+just+say+nice+green+things+and+call+yourself+an+ESG+investor+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F11%2Fyou-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor%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\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/451.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565002\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/you-cant-just-say-nice-green-things-and-call-yourself-an-esg-investor\/451-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/451.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"451.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/451.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/451.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565001\" class=\"content-area-description single-story post-565001 post type-post status-publish format-standard has-post-thumbnail hentry category-green-economy tag-blackrock tag-chevron tag-citigroup tag-enterprisepm tag-esg tag-eu tag-exxonmobil tag-goldman-sachs tag-green-economy tag-greenwashing tag-us tag-vanguard tag-wells-fargo 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>New European Union (EU) rules to regulate ESG investment products and prevent <\/strong><strong>greenwashing<\/strong> went into effect yesterday. The EU\u2019s new rules are part of a wider series of green finance regulations that will see investment products categorised as sustainable or non-sustainable, reports <a href=\"https:\/\/www.ft.com\/content\/74888921-368d-42e1-91cd-c3c8ce64a05e\">The Financial Times<\/a>. In the first stage, products will be designated as dark green, light green and non-sustainable depending on their climate and social impact. Any asset manager who wants to market their fund as a sustainable product will be subject to tough disclosure requirements.<\/p>\n<p><strong>New reporting criteria: <\/strong>The second stage, which comes into effect in 2022, will require funds to report on issues including carbon footprint, investments in companies active in fossil fuel sectors and exposure to controversial weapons such as cluster bombs.<\/p>\n<p><strong>But deforestation and other indicators were taken out of the equation<\/strong>, after heavy lobbying last month, the EUR 17 tn asset management industry swayed Brussels to remove a number of indicators asset managers have to report on, reports <a href=\"https:\/\/www.ft.com\/content\/7d008c09-3801-4a4e-b253-b380cdc5fda5\">the FT<\/a>.<\/p>\n<p><strong>You can find the EU\u2019s directives on the new non-financial reporting legislation <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/3\/EU-sustainable-investment-legislation.pdf\">here (pdf)<\/a><\/strong><strong>.<\/strong><\/p>\n<p><strong>So, what\u2019s greenwashing? <\/strong>The term refers to companies that promote misleading claims about ESG credentials in a bid to attract investors, as environmental, social and governance issues have become a central part of the investment mainstream, experts tell the <a href=\"https:\/\/www.wsj.com\/articles\/what-is-greenwashing-here-is-what-investors-need-to-know-11604881371\">WSJ<\/a>.<\/p>\n<p><strong>Case in point: <\/strong>While BlackRock and Vanguard signed a commitment entitled the <a href=\"https:\/\/www.unpri.org\/\">Principles for<\/a><a href=\"https:\/\/www.unpri.org\/\">Responsible Investment<\/a> meant to integrate ESG information into their decisionmaking, the companies were all present on a list of \u201cdirty thirty\u201d funds that tracks asset managers with investments in coal. <strong>Vanguard topped that list, while BlackRock came in second<\/strong>. The icing on the cake: Vanguard last year threatened to vote against company directors who do not align with global efforts to reach net-zero greenhouse gas emissions by 2050. You can read all about this naughty list <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e369d79-3dc1-4380-bb38-2af0002ab755\">in a story we published last week<\/a>.<\/p>\n<p><strong>As greenwashing ramps up, regulators have turned their attention to how investors can <\/strong><strong>decipher sustainable investment products. <\/strong>The new regulation is \u201cgroundbreaking\u201d and \u201callows investors to compare between different products and how sustainable they are and see what asset managers are doing to integrate sustainability,\u201d Maria van der Heide, the head of EU policy at responsible investment activist ShareAction, told <a href=\"https:\/\/www.ft.com\/content\/74888921-368d-42e1-91cd-c3c8ce64a05e\">the FT<\/a>. Meanwhile, University of Roehampton Professor Molly Scott Cato says the \u201coverdue\u201d regulation will allow investors to have a \u201cbetter understanding of the impact of their investments on people and the planet.\u201d<\/p>\n<p><strong>Could the US follow suit? <\/strong>The Trump administration pushed back on ESG and even <a href=\"https:\/\/www.ft.com\/content\/abfa7a6f-79e3-4abd-9aee-93d99384ef36\">introduced rules<\/a> to make it harder for some pension funds to incorporate ESG principles into their portfolios, but things could change under the Biden White House. The Democratic Party has already unveiled a series of measures on climate change, including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91d89494-55d3-4461-9775-73df2e6cb65c\">rejoining<\/a> the Paris Climate Agreement.<\/p>\n<p><strong>The potential for more global regulatory scrutiny has triggered a chain reaction of <\/strong><strong>companies scrambling to get green. <\/strong>Chevron CEO Mike Wirth laid out a \u201cpathway\u201d toward net zero emissions in the coming decades following years of the US oil giant shying away from such a move over concerns on eroding returns by pivoting aggressively to new, unfamiliar business lines, reports <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-09\/chevron-sees-path-to-net-zero-carbon-cautions-on-tech-policy?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>. This comes <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-04\/exxon-open-to-partnering-with-venture-funds-on-carbon-capture\">a week after<\/a> Exxon Mobil said it sees \u201cmoney-making\u201d potential in carbon offsets and partnerships with venture funds to finance carbon capture.<\/p>\n<p><strong>The messaging shift has also been picked up by several pension funds and asset <\/strong><strong>managers: <\/strong>The Institutional Investors Group on Climate Change launched a \u201cnet-zero investment framework\u201d this week to provide practical guidance on how to both decarbonise investment portfolios and increase investments in climate solutions, according to a <a href=\"http:\/\/bit.ly\/3qAjbRj\">statement<\/a>. Currently 33 asset managers and owners, managing USD 9.8 tn in assets, are putting the framework to practical use. What\u2019s more, <strong>Wells Fargo, Goldman Sachs, and Citigroup are among the firms that have committed to achieving carbon neutrality<\/strong>, without going into details about the practicality or implementation, writes <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-10\/pimco-fidelity-among-firms-devising-net-zero-investing-standard?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>.<\/p>\n<p><strong>ESG boomed in 2020, fueled by the pandemic and rising concern over climate change<\/strong>, with the total assets in specialist sustainable investing mutual funds hitting a record of almost USD 1.7 tn during the year, up 50% from 2019. A majority of sustainable funds have outperformed their equivalent conventional funds over one, three, five and 10 years, according to a study by data provider <a href=\"https:\/\/www.morningstar.com\/articles\/1017056\/sustainable-equity-funds-outperform-traditional-peers-in-2020\">Morningstar<\/a>. Over 90% of leading sustainable indices beat their parent benchmarks in the 1Q2020 and continued to show resilience throughout the year\u2019s volatility, according to research by <a href=\"https:\/\/www.blackrock.com\/corporate\/about-us\/sustainability-resilience-research\">BlackRock<\/a>.<\/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\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chevron\/\">Chevron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/citigroup\/\">Citigroup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exxonmobil\/\">ExxonMobil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greenwashing\/\">greenwashing<\/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\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vanguard\/\">Vanguard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wells-fargo\/\">Wells Fargo<\/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=\"565003\" 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=\"565003\">\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\">PARTING SHOT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/heavy-decision-weighing-on-the-cbe-next-week\/\">\r\n                            Heavy decision weighing on the CBE next week                        <\/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\/11\/heavy-decision-weighing-on-the-cbe-next-week\/\" 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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Paying more for key imports puts pressure on the EGP and turbo-charges inflation.<\/p>\n<p><strong>But does the argument hold water?<\/strong> Bloomberg\u2019s basic premise is that net importers will suffer massive inflationary risk, while net exporters (Russia, KSA) will be sitting pretty. But our starting point isn\u2019t horrible at all: Inflation has been stable \u2014 annual urban inflation rose marginally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ad47058-a1df-4f79-a48e-1b39c17beb79\">4.5% in February<\/a> from 4.3% in January \u2014 and foreign investors are still purchasing local bonds. Almost all analysts <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fb13174-3377-49ef-8300-480e0abee206\">we\u2019ve spoken with this week<\/a>tell us that, yes, inflation is likely to increase if the commodities boom continues. Arqaam Capital sees inflation at 6-7% through 2021, EFG Hermes is forecasting 6%, while Pharos is penciling in a sustained rise in the headline rate averaging 7% until the fourth quarter, when it might begin to back off.<\/p>\n<p><strong>But we\u2019re also starting from a low point in consumer demand.<\/strong> Metals factories, for instance, are at best operating at 50-60% capacity, officials told us this week, so the impact of rising global metals prices has been muted.<\/p>\n<p><strong>The risk could push the government to move harder on hedging \u2014 particularly with <\/strong><strong>wheat.<\/strong> The government is currently considering hedging against rising wheat prices. As the world\u2019s biggest importer of wheat, Egypt\u2019s budget is heavily exposed to the ongoing rally that has seen wheat prices increase more than 40% from lows witnessed in March to USD 207 per tonne on 1 March. Traders will be eyeing state grain buyer GASC\u2019s Wednesday\u2019s tender, where it will look to buy 55-60k mn tonnes of wheat for delivery in mid-April, global commodities tracker Agricensus reports (<a href=\"https:\/\/www.agricensus.com\/Article\/GASC-looks-for-April-15-25-wheat-at-first-tender-in-weeks-15807.html\">paywall<\/a>)<\/p>\n<p><strong>How should the CBE react?<\/strong> The central bank\u2019s Monetary Policy Committee will meet on Thursday, 18 March, to decide on interest rates. Most analysts we spoke with this week feel that the CBE will leave interest rates on hold in anticipation of a rise in inflation. \u201cWhile inflation numbers support a 25-50 bps cut in rates, the rise in US Treasury yields and the risk for EM portfolio exits might prompt the MPC to leave rates unchanged,\u201d Pharos\u2019 head of research Radwa El Swaify said.<\/p>\n<p><strong>So far, we don\u2019t have to worry about an exodus:<\/strong> Foreign holdings of Egyptian debt recovered to exceed their pre-covid level, rising to USD 29 bn at the end of last month. Real rates on EGP bonds \u2014 or the yield adjusted for inflation \u2014 remain among the highest in the world, Pharos\u2019 Radwa El Swaify told us, adding that \u201cwe\u2019re relatively immune\u201d to higher treasury yields.<strong> READ MORE on the impact of rising US bond yields on Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c6fb4fa-12c9-45d0-b904-242cb9d1c66d\">here<\/a><\/strong><strong>.<\/strong><\/p>\n<p><strong>Even managers shedding EM debt are holding on to Egypt,<\/strong> apparently. Loomis\u2019 Emerging Markets Debt Blended Total Return fund, with USD 296.6 mn assets under management, has been selling local-currency notes from Russia and Indonesia. But it has retained its holdings of Egyptian debt among other positions, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-10\/a-loomis-fund-sells-bulk-of-emerging-debt-on-surging-dollar-risk?sref=mmeFTDW1\">Bloomberg reports<\/a>.<\/p>\n<p><strong>But even now, US yields appear to be stabilizing<\/strong> after a US Labor Department report <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">out<\/a><a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">today said<\/a> the consumer price index rose 0.4% in February, in line with expectations, after a 0.3% increase in January. US benchmark yields settled at around 1.5% after shooting to a one-year high above 1.6% last week, <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets\/world-stocks-hit-highest-in-a-week-as-inflation-worries-ebb-idUSKBN2B22W0\">Reuters reports<\/a>.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/parting-shot\/\">PARTING SHOT<\/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=\"565005\" 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\/11\/your-essential-business-calendar-on-11-march-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565005\" class=\"content-area-description single-story post-565005 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>9-11 March (Tuesday-Thursday): EduGate 2021 \u2013 Enter The Future conference, Kempinski Royal Maxim Hotel, Cairo, Egypt.<\/p>\n<p>11 March (Thursday): AmCham event featuring Oil Minister Tarek El Molla.<\/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>13-14 March (Saturday-Sunday): The Marketers League Conference will take place at Kundalini Grand Pyramids Hotel in Giza. This year\u2019s theme is <a href=\"https:\/\/beyondthepandemic.marketers-league.com\/\">Beyond the Pandemic<\/a>.<\/p>\n<p>15 March (Monday): AmCham event featuring life coach Arfeen Khan.<\/p>\n<p>16 March (Tuesday): AmCham webinar featuring business tech expert Patrick Schwerdtfeger. <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-paid-registration\/1348\">Non-members can register here<\/a>.<\/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>23 March (Tuesday): The British-Egyptian Business Association (BEBA) virtual conference on sustainable manufacturing in Africa.<\/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>31 March (Wednesday): Income tax deadline for individuals. Real estate tax deadline.<\/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\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":564993,"template":"","categories":[],"tags":[],"class_list":["post-564992","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4874ae4f-1d85-478e-9f43-faef8682e9c8","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/446.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 IDH could list on the EGX within two months. - 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-idh-could-list-on-the-egx-within-two-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise IDH could list on the EGX within two months.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-idh-could-list-on-the-egx-within-two-months\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:46:42+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/446.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-idh-could-list-on-the-egx-within-two-months\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-idh-could-list-on-the-egx-within-two-months\/\",\"name\":\"Enterprise IDH could list on the EGX within two months. - 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