{"id":565153,"date":"2021-03-23T13:52:20","date_gmt":"2021-03-23T13:52:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=565153"},"modified":"2025-12-16T04:51:14","modified_gmt":"2025-12-16T04:51:14","slug":"enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/","title":{"rendered":"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell"},"content":{"rendered":"<section id=\"565155\" 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=\"565155\">\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\/23\/what-were-tracking-tonight-on-23-march-2021\/\">\r\n                            What we\u2019re tracking tonight on 23 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\/23\/what-were-tracking-tonight-on-23-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\/23\/what-were-tracking-tonight-on-23-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\/23\/what-were-tracking-tonight-on-23-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=What we\u2019re tracking tonight on 23 March 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/what-were-tracking-tonight-on-23-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\/23\/what-were-tracking-tonight-on-23-march-2021\/&title=What we\u2019re tracking tonight on 23 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=What+we%E2%80%99re+tracking+tonight+on+23+March+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fwhat-were-tracking-tonight-on-23-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\/23\/what-were-tracking-tonight-on-23-march-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565155\" class=\"content-area-description single-story post-565155 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-astrazeneca tag-benjamin-netanyahu tag-egx tag-enterprisepm tag-financial-markets tag-israel tag-mubadala tag-nfts tag-opec tag-politics tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, everyone, and welcome to a particularly torrid Tuesday<\/strong>, sand storm and all.<\/p>\n<p><strong>THE BIG STORY OF THE DAY here at home<\/strong> is the unexpected and violent sell-off on the Egyptian Exchange, which is now in its second day and has seen the benchmark EGX30 move deeper into the red, having wiped out all of its gains for the year.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>We\u2019re not the only market taking it on the chin right now \u2014 Turkish stocks dodged <\/strong><strong>having their worst two-day slump in 20 years <\/strong>after investors swooped in to pick up shares at pennies on the greenback. The Borsa Istanbul plummeted 9% on the back of a sharp sell-off during the first few hours of play, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-23\/turkish-stocks-sink-flipping-circuit-breakers-for-second-day?sref=mmeFTDW1\">Bloomberg<\/a> reports. It was the second day of turmoil since President Recep Tayyip Erdogan\u2019s decision to fire a central bank governor with a sound grasp of macro policy. <strong>The TRY, meanwhile, plunged to a new low<\/strong> against the greenback.<\/p>\n<p><strong>So is this the start of a flight from emerging markets? Is the EGX slumping because of <\/strong><strong>Turkey? \u201cProbably not\u201d and \u201cNo.\u201d <\/strong>The selloffs in Turkey and Egypt are unrelated: Turkish shares and the TRY are under pressure because Erdogan last week sacked his third central bank governor in less than two years. <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-03-23\/turkey-isn-t-the-first-domino-in-an-emerging-markets-bust?sref=mmeFTDW1\">Bloomberg<\/a> columnist John Authers notes that other emerging markets \u2014 even those that elect \u201cmarket-unfriendly\u201d presidents \u2014 generally make sure not to mess with the independence of their central banks. \u201c<strong>International markets like central bank independence<\/strong>,\u201d he wrote.<\/p>\n<p><strong>So what\u2019s going on with the EGX? <\/strong>We take a deeper dive in this afternoon\u2019s Speed Round, below.<\/p>\n<p><strong>HAPPENING NOW- Today is the worst of the ongoing sandstorm<\/strong>, with dusty winds expected to reach speeds of 40-50 km\/hr, according to the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/photos\/a.825570437621323\/1887449784766711\">national weather service<\/a>. Look for a high this afternoon of about 32\u00b0C. The forecast calls for clear skies tomorrow, with the mercury returning to a more seasonally appropriate 22\u00b0C and staying in the low 20s throughout the weeknd and well into next week.<\/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>London-listed consumer healthcare giant IDH has gotten the go-ahead from the <\/strong><strong>FRA to list its shares on the EGX.<\/strong> The company doesn\u2019t plan to issue new shares, but instead will go ahead with what will become <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a8de50b-e554-4600-8305-377e972f069b\">the country\u2019s first technical listing<\/a>.<\/li>\n<li><strong>Your daily vaccine update:<\/strong> Egypt could land the rights to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb960df3-5af1-4939-8475-fb52b2458345\">make a vaccine owned by<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb960df3-5af1-4939-8475-fb52b2458345\">Sinovac<\/a> (the less effective of China\u2019s two highest-profile jabs, lagging the Sinopharm product now being deployed nationwide). Meanwhile, tourism workers are at the head of the line for vaccinations, as are folks heading on Hajj.<\/li>\n<li><strong>The first Europe-bound LNG shipment from the Damietta liquefaction plant arrived <\/strong><strong>in Belgium<\/strong> on Sunday \u2014 almost a month after the facility <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a799ac72-e611-4709-a349-f719063ed68e\">restarted operations<\/a> and sent out trial shipments of gas following an eight-year hiatus.<\/li>\n<\/ul>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>THE BIG STORY ABROAD: The story of AstraZeneca vaccine is a saga that just never <\/strong><strong>seems to want to end. <\/strong>A top US health authority is calling into question data about the vaccine\u2019s efficacy that just yesterday was widely welcomed by policymakers.<\/p>\n<p><strong>What\u2019s going on? <\/strong>The US National Institute of Allergy and Infectious Diseases (a division of the National Institute of Health) said in <a href=\"https:\/\/www.nih.gov\/news-events\/news-releases\/niaid-statement-astrazeneca-vaccine\">a statement<\/a> that it is worried AstraZeneca \u201cmay have included outdated information\u201d from a clinical trial, the result of which was that it \u201cmay have provided an incomplete view of the efficacy data.\u201d AstraZeneca said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8ebb948-387f-4a4c-b5a3-434084d82a69\">yesterday<\/a> the vaccine was 79% effective in stopping symptomatic covid-19 cases and 100% effective in preventing severe disease and hospitalization after completing US trials. The data was released just days after Europe said it would resume using the jab after earlier halting vaccinations, citing what proved to be unfounded fears it could cause blood clots. <strong>The news leads the front pages of the <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/24090cf8-9b6c-45b9-9a8d-41ca2450194d\">Financial Times<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/u-s-health-officials-raise-concerns-over-astrazeneca-vaccine-data-11616485793?mod=hp_lead_pos1\">Wall Street Journal<\/a><\/strong> and is getting plenty of ink from the <a href=\"https:\/\/www.nytimes.com\/2021\/03\/22\/world\/us-health-officials-question-results-from-astrazenecas-vaccine-trial-less-than-a-day-after-theyre-released.html\">NYT<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-23\/astra-may-have-given-outdated-details-on-vaccine-says-u-s-body\">Bloomberg<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/03\/23\/covid-us-health-agency-casts-doubt-over-astrazeneca-vaccine-data.html\">CNBC<\/a>.<\/p>\n<p><strong>ALSO HAPPENING NOW- Israel\u2019s elections are in full swing<\/strong>, with Benjamin Netanyahu crossing his fingers that the swift vaccine rollout will gain him another term as prime minister, reports <a href=\"https:\/\/www.reuters.com\/article\/us-israel-election\/israelis-vote-on-netanyahu-again-after-vaccination-success-idUSKBN2BE32D\">Reuters<\/a>. <strong>His main challenger is Yair Lapid<\/strong>, a former finance minister who heads the centrist Yesh Atid party and is an <a href=\"https:\/\/enterprise.press\/stories\/2015\/09\/28\/el-sisi-in-new-york-writes-wsj-editorial-on-re-engineering-egypts-economy\/\">advocate<\/a> for the regional peace initiative. The polls are currently too close to call.<\/p>\n<p><strong>Oil prices fell below USD 61 on concerns over a lag in short-term demand<\/strong> caused by an uneven pandemic recovery, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-22\/oil-edges-lower-near-61-with-near-term-demand-concerns-in-focus?sref=mmeFTDW1\">Bloomberg<\/a>reports. It won\u2019t be until vaccines are fully rolled out on a global scale and more stimulus pumped into the US economy that demand, and hence prices, will return to their pre-pandemic levels. Oil producers are now expected to keep plans for May production cuts in place as we approach OPEC\u2019s monthly production meeting next week.<\/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>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The CIB PSA Black Ball Open 2021 men\u2019s squash competition is running until Thursday, <\/strong>following the completion of the women\u2019s round last Thursday. Some 48 men will compete for a USD 175k purse. You can stream the event live on <a href=\"https:\/\/psaworldtour.com\/accounts\/login?next=\/tv\/live\">SquashTV<\/a> or the official Facebook page of the <a href=\"https:\/\/www.facebook.com\/PSAworldtour\/\">PSA World Tour<\/a> (excluding Europe and Japan). You can also <a href=\"https:\/\/www.ticketsmarche.com\/cib-psa-black-ball-open-2021_se_2034.html\">snag tickets online<\/a> to attend in person at the Black Ball Sporting Club in New Cairo. The women\u2019s league saw Egypt\u2019s Nour El Sherbini take home the <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11508?tab=womens_results\">grand title<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/www.therealgate.com\/visit\/register-your-interest-to-visit\/\">The Real Gate real estate exhibition<\/a><\/strong><strong> will kick off on Thursday<\/strong> and run until Saturday at the Egyptian International Exhibition Center.<\/p>\n<p><strong>Head to Sharm for a startup gathering: <\/strong>Investors, entrepreneurs and policymakers will gather in Sharm El Sheikh for the <a href=\"https:\/\/ec.aast.edu\/contenttemp.php?page_id=48200111\">Startup Festival<\/a> on 28-29 March 2021. More than 80 startups will participate in the exhibition, which will feature panel discussions and workshops. The gathering will also unveil who is taking home hardware from the \u201cEgypt Entrepreneurship Rally Competition.\u201d The gathering is organized by the Arab Academy for Science, Technology & Maritime Transport, and companies that have graduated from AAST\u2019s supply chain and logistics as well as youth incubators have the chance to pitch their ideas to investors.<\/p>\n<p><strong>The Spring Flowers Exhibit (<\/strong><strong><a href=\"https:\/\/www.facebook.com\/alzehor\/\">Ma3rad El Zohoor<\/a><\/strong><strong>) is currently taking place <\/strong>at Orman Botanical Garden in Giza. More than 200 exhibitors have set up shop to sell flowers, plants, agricultural products, and gardening equipment. The exhibit runs through 13 April.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/nmec.gov.eg\/\">National Museum of Egyptian Civilization<\/a><\/strong><strong> is set to open on 3 April in El Fustat. <\/strong>Local and international visitors alike will pay less for admission for the first two weeks to explore the museum\u2019s central hall, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1886946598150363\">statement<\/a>. Meanwhile, the Royal Mummies Hall will be ready for visitors starting 18 April. The museum is designed as a celebration of Egyptian civilization from prehistory to the present day.<\/p>\n<p><strong>AUC Press\u2019 <\/strong><strong><a href=\"https:\/\/www.facebook.com\/AUCBookstores\/posts\/1044333852741574\">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><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Sophia the robot is aiming to be the next Picasso, but NFT style:<\/strong> Sophia\u2019s creative juices are flowing and she\u2019s gotten on board the non-fungible token (NFT) digital art train \u2014 if you\u2019re unsure what an NFT is, it\u2019s basically both a certificate of provenance and ownership for a piece of digital art, we explained in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8115d23b-a850-4f0f-bc1a-4cb6ac56e437\">this story<\/a>. The robot\u2019s first artwork will go up for auction tomorrow in what will be the first sale of NFT digital art created jointly with artificial intelligence, writes <a href=\"https:\/\/www.reuters.com\/article\/us-hongkong-robot\/nft-digital-artwork-by-humanoid-robot-sophia-up-for-auction-idUSKBN2BE0HM?utm_medium=Social&utm_source=twitter\">Reuters<\/a>. The artwork titled \u201cSophia Instantiation\u201d was created in collaboration with Italian digital artist Andrea Bonaceto and is a 12-second MP4 file showing the evolution of Bonaceto\u2019s portrait into Sophia\u2019s digital painting, accompanied by a physical artwork. NFTs have become the latest investment craze with a digital art piece <a href=\"https:\/\/www.reuters.com\/article\/us-auction-christie-s-nft-idUSKBN2B3275\">selling for nearly USD 70 mn<\/a> this month. <strong>Can we say \u201cEnd Times,\u201d ladies and gentlemen?<\/strong><\/p>\n<p><strong>And while we\u2019re on NFTs: Twitter\u2019s Jack Dorsey sold a tweet NFT for the equivalent of <\/strong><strong>USD 2.9 mn yesterday<\/strong>, reports <a href=\"https:\/\/www.cnbc.com\/2021\/03\/22\/twitter-ceo-jack-dorseys-first-tweet-nft-sells-for-2point9-million.html\">CNBC<\/a>. The tweet, which said \u201cjust setting up my twttr,\u201d was first published in March 2006 and was snatched up for 1,630 Ether by Bridge Oracle CEO Sina Estavi. Dorsey said he will convert the proceeds to BTC and will then donate that to GiveDirectly\u2019s Africa response fund.<\/p>\n<p><strong>Abu Dhabi\u2019s sovereign wealth fund Mubadala and Abu Dhabi Catalyst Partners have <\/strong><strong>invested a combined USD 150 mn in Telegram<\/strong>, according to <a href=\"https:\/\/gulfbusiness.com\/mubadala-abu-dhabi-catalyst-partners-invest-150m-in-messenging-app-telegram\/\">Gulf Business<\/a>. The UAE-headquartered social media platform has become one of the world\u2019s 10 most downloaded apps with over 500 mn monthly active users and is now looking to open an office in Abu Dhabi Global Market as a launchpad for additional growth.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>Season three of Netflix\u2019s <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt8289930\/\">Formula 1: Drive to Survive<\/a><\/strong><strong> has been released this week.<\/strong> If you\u2019re not familiar with the show yet, the docuseries gives a behind-the-scenes look at the drivers and races of the Formula One World Championship. Covid-19 makes a guest appearance this season, with the series following how the pandemic affected the championship while also following along stories of racers such as Daniel Ricciardo, Pierre Gasly, and Romain Grosjean as well as racing automakers including Scuderia Ferrari.<\/p>\n<p><strong>Comedian Gabriel Iglesias\u2019s <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt3532608\/\">The Fluffy Movie<\/a><\/strong><strong> is now on Netflix. <\/strong>Anything involving Iglesias is one hell of a good time and will make you laugh for days. Iglesias is known for his wild stories and even wilder impersonations and The Fluffy Movie was one of the first endeavors that ricocheted him into fame. If you\u2019re already a fan of Iglesias, he also has a scripted comedy series on Netflix called <a href=\"https:\/\/www.imdb.com\/title\/tt8403536\/\">Mr. Iglesias<\/a> where he plays the role of a high-school teacher in a school with underprivileged kids.<\/p>\n<p><strong>As for football, still no matches in sight today. <\/strong><\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong><a href=\"https:\/\/www.facebook.com\/MeltBistroAndCafe\/\">Melt Bistro and Cafe<\/a><\/strong><strong> was brought to Egypt by Majid Al Futtaim<\/strong> and, if the name is any indication, boasts cheesy meals or normal dishes where you can request melted cheese be added from a giant cheese wheel of your choice. Featuring fresh produce and ingredients in all their offerings, we recommend the steak sandwich or the veal milanese. For dessert, go for the carrot cake pancakes or the melted chocolate fondant. You can find Melt at City Centre Almaza and Mall of Egypt \u2014 where the restaurant offers a fantastic view of Ski Egypt.<\/p>\n<p><strong>We talked to Majid Al Futtaim Properties CEO Ahmed Galal Ismail on our podcast Making It<\/strong> and discussed the group\u2019s priority of selling quality experiences (<a href=\"https:\/\/enterprise.press\/podcasts\/debating-bricks-clicks-majid-al-futtaim-properties-ceo-ahmed-ismail\/\">listen, runtime: 42:44<\/a>).<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.instagram.com\/p\/CMmemsoF7IZ\/?igshid=jl17rl4womtz\">Dirty Backseat<\/a><\/strong><strong> is taking the wheel at Cairo Jazz Club in Agouza tonight for Alt Tuesday<\/strong>. Dirty Backseat is the brainchild of music producer Moe Hani and this will be his first performance alongside a band.<\/p>\n<p><strong>The Warehouse (Al Ma5zan) \u2014 a play based off of Quentin Tarantino\u2019s film Reservoir Dogs<\/strong> \u2014 will be showing at Rawabet Art Space in Downtown this Thursday, Friday, and Saturday. The play will be performed by the Kenoma Theatre Company and you can find out more about the event <a href=\"https:\/\/www.instagram.com\/p\/CMe5z7ynnP7\/?igshid=1t28owlp2zqic\">here<\/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\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/benjamin-netanyahu\/\">Benjamin Netanyahu<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubadala\/\">Mubadala<\/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\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"565156\" 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                <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 class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-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\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ye1ehw9\" data-v=\"4\" data-block-id=\"ye1ehw9\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ye1ehw9-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ye1ehw9-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-7ty2q9s\" data-v=\"4\" data-block-id=\"7ty2q9s\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7ty2q9s-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7ty2q9s-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\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 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=\"565157\" 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=\"565157\">\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: MARKET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egx-claws-back-losses-after-5-plunge\/\">\r\n                            EGX claws back losses after 5% plunge                        <\/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\/23\/egx-claws-back-losses-after-5-plunge\/\" 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\/23\/egx-claws-back-losses-after-5-plunge\/')\">\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\/23\/egx-claws-back-losses-after-5-plunge\/\">\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=EGX claws back losses after 5% plunge&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egx-claws-back-losses-after-5-plunge\/\">\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\/23\/egx-claws-back-losses-after-5-plunge\/&title=EGX claws back losses after 5% plunge\">\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=EGX+claws+back+losses+after+5%25+plunge+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fegx-claws-back-losses-after-5-plunge%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\/23\/egx-claws-back-losses-after-5-plunge\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/526.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565158\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egx-claws-back-losses-after-5-plunge\/526-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/526.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"526.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/526.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/526.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565157\" class=\"content-area-description single-story post-565157 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-market-watch tag-egx tag-enterprisepm tag-equities tag-market-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> The benchmark EGX30 lost another 0.6% today<\/strong>, clawing its way back after a sharp plunge in the broad-based EGX100 index early in the session triggered an automatic suspension of trading to allow things to cool off. Today\u2019s trading was light, with turnover of EGP 1.1 bn (32.1% below the 90-day average), but still a bit ahead of yesterday\u2019s EGP 940 mn. Local investors were net buyers after initially being hit with margin calls at the start of the session.<\/p>\n<p><strong>The exchange has absorbed a one-two punch delivered over two days<\/strong> \u2014 first by foreign investors, then by locals \u2014 that has wiped out all of the gains the bourse had made since the start of the year. <strong>The EGX30 is now at its lowest level since October 2020<\/strong> and is down 3.5% year-to-date, but is still nearly 30% up from the lowest point it touched during the pandemic-induced sell-off a year ago.<\/p>\n<p><strong>Time to take a breather? <\/strong>A veteran market watcher we spoke with just before dispatch told us he thinks the EGX coming back from a sharp selloff early in the session suggests that the selldown may have lost steam and investors are now moving in from the sidelines to pick up well-priced names. Still, with three weeks left until Ramadan (when cash demand from retail investors is high)\u2026<\/p>\n<p><strong>So, what happened? A pullback by foreign investors yesterday touched off today\u2019s wave of selling (probably forced, early in the session) by retail investors<\/strong>, analysts tell us. Foreign fund managers have been moving out of emerging markets \u2014 equities and fixed income alike \u2014 since mid-February, attracted by rising US treasury yields, says Pharos Head of Research Radwa El Swaify. A noisy political backdrop that includes uncertainty about talks over the Grand Ethiopian Renaissance Dam could also be dampening foreign appetite, adds <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd07438c-9784-4b36-a935-c932bc506580\">Abou Bakr Emam<\/a>, head of research at Sigma Capital.<\/p>\n<p><strong>Critically, there weren\u2019t many foreign investors left in the market <\/strong>compared to their pre-pandemic appetite for Egypt. Many who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a867c5b-e75b-4e7a-a096-4ac71c6f9a07\">left in the global risk-off last year<\/a> are still sitting on the sidelines. Where allocations to Egypt from frontier fund managers were in the 10-11% range before covid-19, Egypt is now down to 7-8%, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0125cfa-5c62-4e67-8938-457def74a80d\">as we noted last week<\/a>. Conventional wisdom is that it will take a wave of compelling IPOs to bring global fund managers back en masse.<\/p>\n<p><strong>That\u2019s left domestic investors in the driving seat. <\/strong>Since the second half of 2020, they\u2019ve accounted for 60-70% of market turnover every day, and where a foreign or domestic institution is more likely to take a \u201cbuy and hold\u201d approach, individual investors trade on momentum, jumping in and out of shares (or the market as a whole) based on news flow, rumors and their gut feelings.<\/p>\n<p><strong>The speed and sharpness of yesterday\u2019s selloff probably forced \u201ca series of margin calls\u201d for retail investors<\/strong>, Prime Research suggested in a note today, extending the slump into today. And Sigma\u2019s Emam thinks domestic institutions probably don\u2019t have the liquidity they\u2019d want to have to jump into the market when margin calls are still ringing in the air. He also notes that the market hasn\u2019t exactly cheered the end of Eastern Tobacco\u2019s market monopoly with the prospect of a second license being issued. And why would they? Eastern is an easy play if you\u2019re in the mood for a steady dividend payer.<\/p>\n<p><strong>A top exec at one of the country\u2019s most visible publicly traded companies says it isn\u2019t time to panic. <\/strong>Speaking on condition he not be named, the veteran market watcher said he thinks foreign investors were <strong>net sellers yesterday \u201cnot because they were exiting the market in a bulk \u2014 it\u2019s foreign investor, singular, not foreign investors, plural<\/strong>. If it was the latter, the trading in my share would have been big blocks, not the 100 here and 100 there that I saw yesterday.\u201d<\/p>\n<p><strong>One catalyst to watch for: Dividends in general, and Telecom Egypt\u2019s in particular. <\/strong>Now that EFG Hermes has said it is not paying a cash dividend this year, many foreign pension funds \u2014 who invest for dividends before they do for share appreciation \u2014 will be waiting for next week before making a decision on Egypt. That\u2019s when Telecom Egypt\u2019s OGM is <a href=\"https:\/\/ircp.te.eg\/IRMedia\/Corporate_News\/2021\/Corporate_News08c56f76-e2f8-46a3-97c0-184d55e094dd.pdf\">set to discuss (pdf)<\/a> a proposal to bump the teleco\u2019s dividend by as much as 50% after Vodafone Egypt approved a chunky EGP 2 bn cash dividend, of which some EGP 900 mn will be pocketed by TE.<\/p>\n<p><strong>Surely the good news on domestic macro indicators and the vaccine rollout should boost sentiment? <\/strong>Don\u2019t count on it, Emam says. The top exec agrees, saying he believes that recent talk of there being a third wave of covid-19 \u2014 one that could gather strength during Ramadan \u2014 is probably at play. \u201cVolumes are low, and retail investors are not sophisticated. They see London, France and Germany closing up shop? They get hit by margin calls? And people need cash ahead of Ramadan anyway. I expect some thinness in volumes for the next while.\u201d El Swaify, meanwhile, says it\u2019s an open question what happens next. With retail investors now accounting for 70% of market activity, margin calls just magnify both volatility and the magnitude of the swings that follow.<\/p>\n<p><strong>In the green today: <\/strong>CI Capital (+3.4%), Orascom Development (+3.0%) and GB Auto (+2.7%).<\/p>\n<p><strong>In the red: <\/strong>Qalaa Holdings (-5.8%), Orascom Financial (-5.2%) and Export Development Bank (-5.1%).<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/market-watch\/\">Market 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=\"565159\" 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=\"565159\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/\">\r\n                            Meet our analyst of the week: CI Capital\u2019s Monsef Morsy                        <\/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\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/\" 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\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/')\">\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\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Meet our analyst of the week: CI Capital\u2019s Monsef Morsy&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/\">\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\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/&title=Meet our analyst of the week: CI Capital\u2019s Monsef Morsy\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Meet+our+analyst+of+the+week%3A+CI+Capital%E2%80%99s+Monsef+Morsy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fmeet-our-analyst-of-the-week-ci-capitals-monsef-morsy%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\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/527.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565160\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/meet-our-analyst-of-the-week-ci-capitals-monsef-morsy\/527-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/527.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"527.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/527.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/527.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565159\" class=\"content-area-description single-story post-565159 post type-post status-publish format-standard has-post-thumbnail hentry category-go-with-the-flow tag-ci-capital tag-enterprisepm tag-go-with-the-flow tag-monsef-morsy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>OUR ANALYST OF THE WEEK- <\/strong>Monsef Morsy, head of research at CI Capital (<a href=\"https:\/\/www.linkedin.com\/in\/monsef-morsy-05097b26\/?originalSubdomain=eg\">Linkedin<\/a>).<\/p>\n<p><strong>My name is Monsef Morsy and I\u2019ve been working in sell-side research for the past 16 <\/strong><strong>years. <\/strong>After graduating from Cairo University\u2019s faculty of commerce, I began working at Pharos, where I eventually became their deputy head of research. I\u2019m now head of research at CI Capital covering the banking and financial sector in MENA.<\/p>\n<p><strong>The best part of my job is definitely being \u2014 or trying to be \u2014 on top of everything that's happening locally and regionally<\/strong> and being able to formulate a forward view on a specific topic or event. That also requires the ability to be able to visualize the appropriate tool and, whenever possible, basing a view or outlook on scientific approaches. Whether I\u2019m right or wrong, the process itself is fulfilling for me personally and I enjoy it.<\/p>\n<p><strong>There isn\u2019t something I would underline as the worst part of my job, but there are challenges. <\/strong>The first challenge is the risk that views or calls I have on specific stocks and investments might not materialize, as stock performance is often impacted by speculation and unfounded fundamentals. The second challenge is how demanding working in investment banking and specifically research is. The industry is dynamic and you have to keep tabs on every development across the board.<\/p>\n<p><strong>Doing the job with the current lack of travel has been doable as everyone is adapting together to the new norm.<\/strong> Everything has become virtual on a global scale, so it's not odd that we\u2019re not in face-to-face meetings at the moment. Hopefully this won\u2019t last for much longer though, and I\u2019m anticipating we might be back to normal as usual by next year.<\/p>\n<p><strong>The road show is definitely not dead.<\/strong> While we\u2019ve gotten through this year with successful online conferences such as our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8daaa785-66fb-48b9-951c-d97f8a26625f\">5th Annual MENA Investor Conference<\/a>, the importance of having a physical conference with investors coming to meet corporates face-to-face is something we can\u2019t let go of just yet. However, I do think that roadshows might become less frequent than they were pre-covid.<\/p>\n<p><strong>My theory of investment is to always look at the fundamentals.<\/strong> As long as a sector or company has a strong fundamental story and strong backing in financials, figures and ratios, I think that\u2019s basically what makes an investment a good one.<\/p>\n<p><strong>I think my new slogan is \u201ca system will bring success.\u201d<\/strong> Everyone needs a system that governs the whole process of analysis, writing reports or reaching valuations. Having a system in place is very important and will help ensure you have a solid foundation when coming up and presenting your views. This applies to both your personal and professional life and it's the message I\u2019d like to convey to my younger colleagues in the field and people who are interested in working in the sector.<\/p>\n<p><strong>I prefer a top-down approach when recommending a stock<\/strong>. This means looking at the macroeconomics of a country, then the specifics of the sector, and finally the business\u2019s historical performance, financial statements, and main metrics. Every step of the process is important to reach a solid outlook on a stock.<\/p>\n<p><strong>We need to see more new ideas on the stock market.<\/strong> I would say more e-payment, health, ins. or education companies should be listed as they have great potential in the coming months and years. <strong>I\u2019d also like to see more SME companies IPO<\/strong>, which could shift the overall dynamics of the market. We need more stories like Speed Medical, for example, which had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c901d149-9660-4b9a-a4d1-c52bde56de24\">a successful move up from the Nilex to the EGX<\/a> last year. The current direction from the government is helping facilitate this, such as the recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7420e90-5525-412d-b387-055a9c82e644\">central bank initiative<\/a> to make accessing bank finance easier for MSMEs.<\/p>\n<p><strong>Egypt has a solid foundation going into 2021, but we\u2019re not decoupled from what is going on globally. <\/strong>While the country\u2019s macroeconomic figures are strong, the pandemic and global vaccination rollout is leaving many things uncertain for all countries, including Egypt. I think a well distributed rollout \u2014 where the vaccine is administered in all countries and not just a select few \u2014 would help reduce the risk of local issues and accordingly would support Egypt\u2019s story in 2021.<\/p>\n<p><strong>I was a numbers person when I first started my career, but as I matured I started to value words on the same level. <\/strong>Being a good analyst isn\u2019t just about understanding the numbers, but translating them into something more human. So it's about getting the numbers out there while also creating and marketing a story or idea. Today, I would say I\u2019m both a numbers and words person.<\/p>\n<p><strong>The last great thing I read is <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/2159.Confessions_of_an_Economic_Hit_Man\">Confessions of an Economic Hitman<\/a><\/strong><strong> by John Perkins.<\/strong> As for things I watch, I normally tend to opt out of anything in the drama genre. I think life is too full of drama for me to add more when I decide to watch something. I recently watched the TV series <a href=\"https:\/\/www.imdb.com\/title\/tt4270492\/\">Bns<\/a> and really enjoyed it. I also listen to a lot of \u2026 let\u2019s say upbeat music \u2014 which anyone who knows me will know is the opposite of my personality [laughs].<\/p>\n<p><strong>When I\u2019m not on the clock, I try to spend time with family as much as I can. <\/strong>I\u2019ve recently started to workout and I\u2019ve been trying to make it part of my daily routine in the past few months. Getting off the chair and being active has really affected my mood as it brings me a lot of happiness. <strong>Finally, I\u2019m a huge Al Ahly fan<\/strong> and watching football is a habit of mine I don\u2019t think I\u2019ll ever break.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/monsef-morsy\/\">Monsef Morsy<\/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=\"565161\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"565162\" 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=\"565162\">\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\">Macro picture<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/\">\r\n                            The EM policy dilemma threatens fresh bout of volatility                        <\/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\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/\" 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\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/')\">\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\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/\">\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 EM policy dilemma threatens fresh bout of volatility&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/\">\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\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/&title=The EM policy dilemma threatens fresh bout of volatility\">\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+EM+policy+dilemma+threatens+fresh+bout+of+volatility+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fthe-em-policy-dilemma-threatens-fresh-bout-of-volatility%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\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/528.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565163\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/528-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/528.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"528.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/528.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/528.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565162\" class=\"content-area-description single-story post-565162 post type-post status-publish format-standard has-post-thumbnail hentry category-macro-picture tag-emerging-markets tag-enterprisepm tag-inflation tag-macro-picture tag-monetary-policy tag-politics 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 EM scramble to strike policy balance could lead to a wave of volatility:<\/strong> As the global commodities boom threatens to cause a surge in inflation, central banks in emerging markets are faced with an age-old dilemma: keep rates high to hold down prices or accommodate growth and pour more fuel on the fire. The first option would anchor growing price pressures as the world emerges from covid but it comes at the expense of muted growth from elevated rates.<\/p>\n<p><strong>The tension between the need for growth and the fear of inflation was on display last week<\/strong>, as several EM central banks unexpectedly hiked rates in anticipation of accelerated inflation. Russia\u2019s central bank <a href=\"https:\/\/www.ft.com\/content\/0cf78a08-8b37-445d-93d0-b442d1cabf13\">unexpectedly increased rates<\/a> for the first time since 2018, while Brazil <a href=\"https:\/\/www.ft.com\/content\/464c3868-417a-4b52-aaf7-6e5d95ff932e\">raised rates<\/a> by more than economists had forecast in its first rate-hike in six years. Then there\u2019s Turkey, which is now in a crisis after that country\u2019s president sacked his third central bank governor in two years. The governor\u2019s offense? <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-21\/turkey-bulls-are-wrong-footed-after-central-bank-hawk-s-ouster?srnd=premium-middle-east&sref=mmeFTDW1\">Not playing ball and lowering rates<\/a>.<\/p>\n<p><strong>Either way, the path ahead could be bumpy:<\/strong> \u201cThe tug of war between accommodative policies and robust growth \u2026 could result in heightened volatility,\u201d Barclays Capital\u2019s Christian Keller and Michael Gapen wrote in a recent report picked up by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-21\/emerging-markets-caught-in-flux-as-central-banks-walk-tightrope?sref=mmeFTDW1\">Bloomberg<\/a>. Hikes in borrowing costs \u2014 most significantly in the US \u2014 will \u201cilluminate\u201d challenges faced by emerging markets as the USD strengthens and rising US treasury yields, they wrote.<\/p>\n<p><strong>US bonds have experienced a fierce sell-off in recent weeks<\/strong> amid rising concern by fixed-income investors over inflation and a possible earlier-than-expected rate hike. The yield on the 10-year note is currently on its longest rising streak since early 2018 after climbing for a seventh consecutive week last week, Bloomberg notes.<\/p>\n<p><strong>Higher US yields could mean higher borrowing costs in EM:<\/strong> If we continue to witness a rally in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15dfd0a7-91a0-44c1-8303-adefafb2d22b\">US treasury yields<\/a>, alongside stimulus-driven inflation, this means \u201ca decent chance for more pain\u201d for EM bonds, BBVA strategist Danny Fang said. \u201cThe rise in US rates is a reflection of the ongoing inflation concerns. There are inflation concerns in parts of the emerging markets too, but beyond inflation, the higher US rates can lift local rates up too on a short-term basis as well.\u201d<\/p>\n<p><strong>So far, EM assets are sending mixed signals: <\/strong>Currencies made gains last week, ending their longest weekly losses streak since August 2019, Bloomberg says. The MSCI gauge of equities, however, ended the week in the red for the first time since late February. Still, volatility levels in stocks remain low, with the Cboe Emerging Markets ETF Volatility Index, a VIX for EM equities, still <a href=\"https:\/\/fred.stlouisfed.org\/series\/VXEEMCLS\">much lower<\/a> than its pandemic high. Net inflows into the largest EM-focussed ETFs were also positive, extending a 20-week run.<\/p>\n<p><strong>Who\u2019s meeting this week? <\/strong>Policymakers in Thailand, South Africa and Mexico are expected to hold their policy rates when they meet this week, with Thailand likely to put emphasis on \u201ctargeted measures\u201d and Mexico and South Africa to wait-and-see. Hungary, Czech Republic, Nigeria and Ghana are also set to leave their benchmark rates on hold.<\/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\/emerging-markets\/\">emerging markets<\/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\/macro-picture\/\">MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"565164\" 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=\"565164\">\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\">LIFE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/finding-brilliance-through-mediocrity\/\">\r\n                            Finding brilliance through mediocrity                        <\/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\/23\/finding-brilliance-through-mediocrity\/\" 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\/23\/finding-brilliance-through-mediocrity\/')\">\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\/23\/finding-brilliance-through-mediocrity\/\">\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=Finding brilliance through mediocrity&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/finding-brilliance-through-mediocrity\/\">\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\/23\/finding-brilliance-through-mediocrity\/&title=Finding brilliance through mediocrity\">\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=Finding+brilliance+through+mediocrity+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Ffinding-brilliance-through-mediocrity%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\/23\/finding-brilliance-through-mediocrity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/529.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565165\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/finding-brilliance-through-mediocrity\/529-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/529.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"529.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/529.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/529.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565164\" class=\"content-area-description single-story post-565164 post type-post status-publish format-standard has-post-thumbnail hentry category-life tag-enterprisepm tag-life wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mediocrity as a path to improvement: <\/strong>Covid-19 thrust new roles and responsibilities onto most of us, leaving many feeling helpless and possibly mediocre. But moments when we feel our least capable can also be the most crucial to finding success, despite our frustrations with the initial challenge, David Bodanis writes for <a href=\"https:\/\/www.ft.com\/content\/5c6742c6-b101-4bdb-9244-6d719460ec2e\">the Financial Times<\/a>. Expounding on the generative power of mediocrity, Bodanis maintains that with the right attitude, certain defeats can actually illuminate a wide range of possibilities that would have otherwise gone unnoticed.<\/p>\n<p><strong>The liberation of failure: <\/strong>Hitting rock bottom can be tough to bear but it can also develop a useful sense of urgency to figure things out, Bodanis explains. JK Rowling, the author behind the Harry Potter series who was a single mother and self-described failure when she started writing, exemplifies the surge in energy that can accompany feeling like you need to get your act together.<\/p>\n<p><strong>Getting that rock bottom clarity:<\/strong> There\u2019s also clarity that comes with having nothing to lose once you\u2019ve found yourself at a distance from a clear path to success. Decisions can then be made from a broader view of things that can incorporate some creativity into how you might take the next steps to reinvent yourself. Being able to step back and restrategize can give you a chance to change course into something more rewarding, says Bodanis, giving the example of renowned Portuguese football manager Jos\u00e9 Mourinho, whose career as a player was unnotable, but who became a household name as a manager.<\/p>\n<p><strong>The creativity of necessity:<\/strong> Examining what you\u2019ve done so far and why it hasn\u2019t yielded the desired results can be an impetus for a more creative approach. Not being weighed down by success is an advantage here, as people rarely walk away from, or question something, if it seems to be working for them. The appearance of success can blind you to other possibilities, and mediocrity can be a liberating position from which to consider how things could be done differently.<\/p>\n<p><strong>Not buying it? <\/strong>Neither are a lot of people, who still maintain that <a href=\"https:\/\/theambitionplan.com\/stop-being-average\/\">a 10-step plan<\/a> can drag you out of mediocrity, and that <a href=\"https:\/\/www.cnbc.com\/2017\/12\/04\/why-most-people-will-remain-in-mediocrity.html\">\u201cchoosing\u201d success<\/a> can get you where you want to go, though most people are too risk averse to decide to make a change. Plunging headfirst into mediocrity and seeing what it can teach us, as Bodanis suggests, may be the refreshing anti-advice we were waiting for.<\/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\/life\/\">LIFE<\/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=\"565166\" 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=\"565166\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/\">\r\n                            A fifth of Egyptians shopped online more last Ramadan because of covid-19, Facebook says                        <\/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\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/\" 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\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/')\">\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\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/\">\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=A fifth of Egyptians shopped online more last Ramadan because of covid-19, Facebook says&url=https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/\">\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\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/&title=A fifth of Egyptians shopped online more last Ramadan because of covid-19, Facebook says\">\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=A+fifth+of+Egyptians+shopped+online+more+last+Ramadan+because+of+covid-19%2C+Facebook+says+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F03%2F23%2Fa-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says%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\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/530.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"565167\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/a-fifth-of-egyptians-shopped-online-more-last-ramadan-because-of-covid-19-facebook-says\/530-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/530.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"530.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/530.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/530.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565166\" class=\"content-area-description single-story post-565166 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-e-commerce tag-enterprisepm tag-on-your-way-out 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>Covid-19 is pushing more people to do their Ramadan shopping online<\/strong>, with 22% of adults surveyed in Egypt saying they spent more time shopping online last Ramadan because of the pandemic, and 41% saying they use their phone more during the Holy Month, according to insights from Facebook\u2019s <a href=\"https:\/\/www.facebook.com\/business\/insights\/interactive-reports\/ramadan\">Ramadan Consumer Report on Egypt<\/a>. The survey is part of a wider poll of 17.7k people from eight Muslim-majority countries designed to measure people\u2019s shopping behaviour and media consumption during the holy month. The power of social media marketing is apparent, with over half of those surveyed saying they looked to Facebook-owned services for shopping ideas and 67% saying they looked online in general. Advance shopping is also likely to continue to be a trend, with 38% saying they start planning their shopping at least a month before Ramadan, and 35% saying they had completed it before the holy month began.<\/p>\n<p><strong>You have exactly three weeks to go <\/strong>before the start of Ramadan.<\/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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/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=\"565168\" 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\/23\/your-essential-business-calendar-on-23-march-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-565168\" class=\"content-area-description single-story post-565168 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>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>23 March (Tuesday): AUC Women on Boards Observatory event to launch 2020 annual monitoring report.<\/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>29-30 March (Monday-Tuesday): Arab Academy for Science, Technology & Maritime Transport <a href=\"https:\/\/ec.aast.edu\/contenttemp.php?page_id=48200111\">Startup Festival<\/a>, Sharm El Sheikh.<\/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>6 April (Tuesday): French Chamber of Commerce and Industry in Egypt working breakfast with Sovereign Fund of Egypt CEO Ayman Soliman.<\/p>\n<p>7 April (Wednesday): British-Egyptian Business Association (BEBA) webinar on digital banking and fintech.<\/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 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>7-9 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 rates.<\/p>\n<p>17-20 June (Thursday-Sunday) : The International Exhibition of Materials and Technologies for Finishing and Construction (<a href=\"https:\/\/turnkeyexhibition.com\/\">Turnkey Expo<\/a>), Cairo International Conference Center.<\/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>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/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 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 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 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 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":565154,"template":"","categories":[],"tags":[],"class_list":["post-565153","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9271dbe1-9836-405e-91b9-40b2c2decaa1","teaser":"","photo_url":"https:\/\/ent.news\/2021\/3\/525.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Enterprise The EGX clawed back losses after a sharp plunge at the opening bell - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:51:14+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\/525.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/\",\"name\":\"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2021-03-23T13:52:20+00:00\",\"dateModified\":\"2025-12-16T04:51:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Afternoon\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/PMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/","og_locale":"en_US","og_type":"article","og_title":"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell","og_url":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T04:51:14+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/","url":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/","name":"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1","datePublished":"2021-03-23T13:52:20+00:00","dateModified":"2025-12-16T04:51:14+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/525.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-egx-clawed-back-losses-after-a-sharp-plunge-at-the-opening-bell\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Afternoon","item":"https:\/\/enterpriseam.com\/egypt\/PMarchives\/"},{"@type":"ListItem","position":3,"name":"Enterprise The EGX clawed back losses after a sharp plunge at the opening bell"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/afternoon"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565154"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}