{"id":566141,"date":"2021-05-31T14:03:36","date_gmt":"2021-05-31T14:03:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566141"},"modified":"2025-12-16T05:17:09","modified_gmt":"2025-12-16T05:17:09","slug":"enterprise-egytrans-ha-utilities-agreement-back-on-after-fra-slams-paradigm-logistics-partnership","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egytrans-ha-utilities-agreement-back-on-after-fra-slams-paradigm-logistics-partnership\/","title":{"rendered":"Enterprise EgyTrans, HA Utilities agreement back on after FRA slams Paradigm Logistics partnership."},"content":{"rendered":"<section id=\"566143\" 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=\"566143\">\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\/05\/31\/tonight-more-israel-palestine-diplomacy-opec-meeting-tomorrow-watch-apple-tv-docuseries-on-rock-n-roll-slightly-better-weather-tomorrow-two-child-rule-in-china-scrapped\/\">\r\n                            TONIGHT: More Israel-Palestine diplomacy; OPEC+ meeting tomorrow; WATCH: Apple TV+ docuseries on Rock N\u2019 Roll; slightly better weather tomorrow; Two-child rule in China scrapped;                        <\/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\/05\/31\/tonight-more-israel-palestine-diplomacy-opec-meeting-tomorrow-watch-apple-tv-docuseries-on-rock-n-roll-slightly-better-weather-tomorrow-two-child-rule-in-china-scrapped\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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OPEC+ meeting tomorrow; WATCH: Apple TV+ docuseries on Rock N\u2019 Roll; slightly better weather tomorrow; Two-child rule in China scrapped;&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/tonight-more-israel-palestine-diplomacy-opec-meeting-tomorrow-watch-apple-tv-docuseries-on-rock-n-roll-slightly-better-weather-tomorrow-two-child-rule-in-china-scrapped\/\">\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\/05\/31\/tonight-more-israel-palestine-diplomacy-opec-meeting-tomorrow-watch-apple-tv-docuseries-on-rock-n-roll-slightly-better-weather-tomorrow-two-child-rule-in-china-scrapped\/&title=TONIGHT: More Israel-Palestine diplomacy; OPEC+ meeting tomorrow; WATCH: Apple TV+ docuseries on Rock N\u2019 Roll; slightly better weather tomorrow; Two-child rule in China scrapped;\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TONIGHT%3A+More+Israel-Palestine+diplomacy%3B+OPEC%2B+meeting+tomorrow%3B+WATCH%3A+Apple+TV%2B+docuseries+on+Rock+N%E2%80%99+Roll%3B+slightly+better+weather+tomorrow%3B+Two-child+rule+in+China+scrapped%3B+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F31%2Ftonight-more-israel-palestine-diplomacy-opec-meeting-tomorrow-watch-apple-tv-docuseries-on-rock-n-roll-slightly-better-weather-tomorrow-two-child-rule-in-china-scrapped%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\/05\/31\/tonight-more-israel-palestine-diplomacy-opec-meeting-tomorrow-watch-apple-tv-docuseries-on-rock-n-roll-slightly-better-weather-tomorrow-two-child-rule-in-china-scrapped\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566143\" class=\"content-area-description single-story post-566143 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-children tag-china tag-enterprisepm tag-policy tag-south-sinai tag-tax tag-ukraine tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, ladies and gents.<\/strong> With this unbearable heat, we\u2019re almost thankful that it\u2019s one of the slowest news days of the year we\u2019ve seen so far (Ramadan notwithstanding).<\/p>\n<p><strong>THE BIG STORY TODAY- The Financial Regulatory Authority has apparently come down hard on the EgyTrans, Paradigm Logistics partnership <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c328a1a-2aed-4fdc-a3db-ff220dd12a91\">announced last week<\/a>. The authority says PAradigm Logistics doesn\u2019t yet own the shares it is proposing to swap with EgyTrans. This prompted EgyTrans to declare that Hassan Allam Utilities is its only suiter, so far. We cover the story in detail in the Speed Round below.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>HAPPENING NOW- Yet another bid coming in for Alex Medical: <\/strong>TAT for Medical Services \u2014 a subsidiary of Alexandria Healthcare Investments \u2014 has made an offer for Abu Dhabi Commercial Bank\u2019s (ADCB) 51.4% stake in Alexandria Medical, according to <a href=\"https:\/\/ent.news\/2021\/5\/263428_1.pdf\">an FRA statement (pdf)<\/a> out just before dispatch. TAT, which is applying for an MTO, is looking to EGP 45.53 per share, valuing Alex Medical at EGP 650 mn. This is the latest in a string of bids to acquire ADCB\u2019s shares in Alex Medical, which include Cleopatra Hospital Group\u2019s MTO offer to acquire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8bcdeedc-6ea2-4492-adf0-c0dad0bff1f1\">100% of the company<\/a> at EGP 38.53 a piece, valuing the company at EGP 550 mn. Speed Medical <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9a165d3-7d1b-4ace-8b1f-2393f9e7d989\">announced yesterday<\/a> that it is no longer part of a consortium bidding for 100% of Alexandria Medical.<\/p>\n<p><strong>In diplomacy news, <\/strong><strong>Egyptian intelligence chief Abbas Kamel met with Hamas leaders today<\/strong>, as part of Egypt\u2019s efforts to broker a lasting truce between Israel and Hamas, <a href=\"https:\/\/www.reuters.com\/article\/uk-israel-palestinians-egypt-ceasefire\/egypts-intelligence-chief-holds-truce-talks-with-hamas-in-gaza-idUSKCN2DC0RU\">Reuters<\/a> reports. Discussions centered around terms of extending the truce, with Hamas officials maintaining that any truce negotiations must be separate from a prisoner swap proposition raised by PM Netanyahu. Kamel was expected to announce plans by Egypt to build a housing development in Gaza as part of reconstruction efforts, the newswire said, but no such announcement had been made as of dispatch time. The meeting followed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f79688a-f67b-46d1-beea-a9ceaf8bff79\">back-to-back meetings with<\/a> Sunday with Israeli Prime Minister Benjamin Netenyahu in Jerusalem and Palestinian Authority President Mahmoud Abbas in Ramallah. A 52 container shipment of humanitarian aid from Egypt arrived in Gaza today, <a href=\"https:\/\/www.youm7.com\/story\/2021\/5\/31\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%89-%D9%8A%D8%A4%D9%83%D8%AF-%D8%B9%D9%84%D9%89-%D8%AA%D9%85%D8%B3%D9%83-%D9%85%D8%B5%D8%B1-%D8%A8%D8%A5%D9%86%D8%AC%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D9%84%D8%AD%D8%A9-%D8%A7%D9%84%D9%81%D9%84%D8%B3%D8%B7%D9%8A%D9%86%D9%8A%D8%A9-%D9%81%D9%89\/5338525\">Youm7<\/a> reported.<sup><\/sup><\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/p>\n<ul>\n<li><strong>Lockdown-lite <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">ends tomorrow<\/a><\/strong><strong>:<\/strong> Retail shops can stay open till 11 pm, while cafes and restaurants can stay open until 1 am as of tomorrow, after the government\u2019s covid-19 committee agreed to lift semi-lockdown measures imposed earlier this month.<\/li>\n<li><strong>We\u2019re getting our very own <\/strong><strong>digital covid passport<\/strong><strong>: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">digital certificates<\/a> will be authenticated by the foreign and immigration ministries and will meet the requirements of countries that require proof of vaccination status as a condition of entry.<\/li>\n<li><strong>Net FDI <\/strong><strong>could near<\/strong><strong> pre-covid levels in FY2021-2022:<\/strong> Egypt is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d56d3d8-9b32-4478-a8c8-014522865219\">expected to land<\/a> some USD 7 bn worth of foreign direct investments next fiscal year, just under the USD 7.5 bn recorded in FY2019-2020.<\/li>\n<\/ul>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>THE BIG STORY ABROAD- <\/strong><strong>An international accord on the corporate taxation of multinationals may not <\/strong><strong>materialize before October<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-31\/global-tax-deal-may-not-come-until-october-oecd-s-gurria-says?srnd=premium-middle-east\">Bloomberg<\/a> reports, quoting Secretary General of the Organisation of Economic Co-operation and Development (OECD) Angel Gurria. <sup><\/sup><sup><\/sup> Under the new tax agreement, global tech giants including Google, Netflix, Amazon and Facebook with<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af214fd5-5918-46c5-aed3-db02f1c55ef6\">cross-border business<\/a> would pay more tax in countries where they operate. The announcement comes against expectations that agreements could be sealed at a meeting by the G7 this week and another by the G-20 in July, following the US\u2019 shift in favour of the tax overhaul. But, the US may need more time to legislate, and \u201cthe final package could be taken to October when there is another meeting of G-20 finance ministers and central bank governors.<sup><\/sup><sup><\/sup><\/p>\n<p><strong>Egypt is working on <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b1f73ee-3ff8-4adf-8b9f-dbfcd00e99c0\">its own plan to tax FAANGs<\/a><\/strong>, under proposed amendments to the VAT act to be phased in over two years that would see Multinational tech firms obliged to charge 14% VAT on e-commerce sales in Egypt.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong> <strong>OPEC+ will likely decide to continue to increase oil output when it holds its monthly <\/strong><strong>meeting tomorrow<\/strong>, especially as other producers have been increasing supply at a slower pace than the coalition had penciled in, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-30\/this-time-is-different-outside-opec-oil-growth-stalls?sref=mmeFTDW1\">Bloomberg<\/a> reports. The coalition of oil producing countries had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/734e943c-8f61-4cb2-8b26-72e25d6a6747\">announced in April<\/a> that it would gradually increase supply through July, bringing back online some 1.1 mn bbl per day it had cut during covid-19 to temper the effect of falling demand on oil prices.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.gymnastics.sport\/site\/events\/detail.php?id=16598#loaded\">FIG World Challenge Cup<\/a><\/strong><strong> in Artistic Gymnastics<\/strong> for men and women will kick off in Egypt on Thursday and run until Sunday.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>It didn\u2019t take long for China\u2019s two-child policy to become three:<\/strong> Chinese married couples can now have up to three children in a major policy shift from the previous two-child limit, reports <a href=\"http:\/\/www.xinhuanet.com\/english\/2021-05\/31\/c_139980774.htm\">Xinhua<\/a>. The change comes after Beijing released census data <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf2a250c-e078-4db4-bd09-c40b70262258\">last month<\/a> that showed the population could be declining. The policy will be accompanied by \u201crelevant supporting measures that will help improve China's population structure,\u201d the Chinese press added, without elaborating. But many say the policy will not change their family planning, with 29k of 31k Chinese citizens polled by Xinhua saying they could barely afford two children, let alone three, writes <a href=\"https:\/\/www.reuters.com\/world\/china\/china-says-each-couple-can-have-three-children-change-policy-2021-05-31\/\">Reuters<\/a>.<\/p>\n<p><strong>And should their population get out of control again,<\/strong> <strong>China is also paving the way for <\/strong><strong>individuals to start living on its Tianhe space <\/strong><strong>station<\/strong>, reports <a href=\"http:\/\/cnbc.com\/2021\/05\/31\/china-completes-another-part-of-its-own-space-station.html\">CNBC<\/a>. The Tianzhou-2 cargo spacecraft docked on the self-developed space station yesterday, carrying astronaut supplies including space suits and food. The Tianhe Space Station will rival the International Space Station and is expected to go into operation in 2022. China has been expanding its efforts <a href=\"https:\/\/www.cnbc.com\/2020\/07\/23\/china-mars-mission-tianwen1-launches.html\">in space exploration<\/a>, but came under fire last month after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba540bd1-0b36-412c-9347-7f8f30042707\">losing control<\/a> of a rocket that eventually (and thankfully) landed in the Indian ocean.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>A new Apple TV+ docuseries explores the music scene of 1971, arguably the <\/strong><strong>biggest year for rock and soul:<\/strong> 1971 saw some of the biggest music icons rise to fame including The Rolling Stones, Bob Marley, The Who, Joni Mitchell, and Aretha Franklin. The docuseries <a href=\"https:\/\/www.apple.com\/tv-pr\/originals\/1971-the-year-that-music-changed-everything\/\">1971: The Year That Music Changed Everything<\/a> looks at the impact of these tunes on culture and politics. The eight-part series uses archival footage and interviews to paint a picture of the interconnected nature of music and the pivotal historic events of the time, as musicians tried to inspire hope and change through their work. <a href=\"https:\/\/www.vulture.com\/2021\/05\/review-1971-the-year-that-music-changed-everything-doc.html\">Vulture<\/a> is out with a review.<\/p>\n<p>\u26bd <strong>Aswan is playing against Al Masry today at 7pm for a quarterfinal match for the Egypt <\/strong><strong>Cup. <\/strong><\/p>\n<p><strong>? KUDOS- El Zamalek <\/strong><strong><a href=\"https:\/\/bit.ly\/3i64N2O\">took home<\/a><\/strong><strong> the trophy for the inaugural <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec2e482a-790e-4640-9f19-042ef6b73736\">Basketball Africa League<\/a><\/strong> after defeating Tunis\u2019s US Monastir yesterday with a score of 76-63, according to <a href=\"https:\/\/bit.ly\/3i64N2O\">Africa News<\/a>.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>How to take the \u2018noise\u2019 out of judgement calls: <\/strong><a href=\"https:\/\/www.amazon.com\/Noise-Human-Judgment-Daniel-Kahneman-ebook\/dp\/B08KQ2FKBX\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Noise: A Flaw in Human Judgement<\/a> is the newest book by the authors Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein. The trio argue that a variety of environmental and subjective factors \u2014 which they characterise as noise \u2014 cause variability in judgements which should be identical, affecting everything from medicine, to law, to economic forecasting. Individuals and organizations often ignore this \u201cnoise\u201d and the consequences can have great costs. The book aims to introduce simple remedies to bypassing bias and making better decisions and judgements at all levels.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> ? <strong>TOMORROW\u2019S WEATHER- <\/strong>We\u2019re in for *slightly* better weather tomorrow, with daytime highs of 38\u00b0C in the capital city and nighttime lows of 20\u00b0C. The North Coast, on the other hand, boasts a lovely 29\u00b0C weather\u2026 just saying.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/children\/\">Children<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-sinai\/\">South Sinai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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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-2oxjy5e\" data-v=\"4\" data-block-id=\"2oxjy5e\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2oxjy5e-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2oxjy5e-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       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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=\"566145\" 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=\"566145\">\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: M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/fra-pulls-the-brakes-on-egytrans-paradigm-logistics-partnership\/\">\r\n                            FRA pulls the brakes on Egytrans, Paradigm Logistics partnership                        <\/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\/05\/31\/fra-pulls-the-brakes-on-egytrans-paradigm-logistics-partnership\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/494.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"494.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/494.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/494.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566145\" class=\"content-area-description single-story post-566145 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-ma-watch tag-capital-markets tag-egytrans tag-enterprisepm tag-financial-regulatory-authority tag-investment-banking tag-ma-watch tag-ostool tag-paradigm-logistics tag-raya-holding tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>EgyTrans is once again happy with an acquisition offer from HA Utilities BV, <\/strong>after a separate, higher bid that had prompted it to rethink the sale was challenged by the Financial Regulatory Authority. The authority slammed the offer by Paradigm Logistics in a <a href=\"https:\/\/ent.news\/2021\/5\/Egytrans-FRA-disclosure-31-05-2021.pdf\">regulatory filing (pdf)<\/a> today, saying the company has no grounds to propose to swap its 72% stake in shipping company <a href=\"https:\/\/ostool-eg.com\/\">Ostool<\/a>, in exchange for new shares in EgyTrans. Paradigm apparently never completed its purchase of 72% stake, as it has yet to buy the 62.3% of Ostoul from Raya Holding. Paradigm and Raya still need to meet conditions outlined in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4c44bf-04cf-44d4-b8fd-7a526fade0d7\">sale contract<\/a> by no later than 31 March 2022.<\/p>\n<p><strong>Following the FRA\u2019s statement, EgyTrans said it\u2019s no longer considering Paradigm\u2019s offer,<\/strong> and will instead turn to ongoing talks with HA Utilities BV, a Netherlands-based subsidiary of <a href=\"http:\/\/www.hassanallam.com\/utilities\/group-profile\">HA Utilities<\/a>, to acquire a 65% stake in EgyTrans via a reverse merger, according to a <a href=\"https:\/\/ent.news\/2021\/5\/Egytrans-disclosure-31-05-2021.pdf\">separate filing (pdf)<\/a>.<\/p>\n<p><strong>Why did Paradigm\u2019s offer prompt EgyTrans to pay less attention to HA Utilities anyway? <\/strong>Paradigm valued EgyTrans\u2019 shares at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c328a1a-2aed-4fdc-a3db-ff220dd12a91\">EGP 460 mn<\/a>, which was higher than the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb8ca3a4-751d-45f5-b14d-b884824f2fb9\">EGP 414 mn<\/a> proposed in a fair value report attached to HA Utilities\u2019 bid.<\/p>\n<p><strong>Background: <\/strong>Egytrans had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87cd18b5-f1ca-4e94-9556-be003f2311c5\">accepted in March<\/a> an offer from HAUH to acquire a controlling stake in the company. The transaction took a step closer this week, when the final fair value reports for both companies were finalized by Grant Thornton.<\/p>\n<p><strong>CORRECTION: <\/strong>This story was amended on Tuesday, 1 June 2021 to reflect that Ostool is a\u00a0<em>shipping\u00a0<\/em>company, not a\u00a0<em>shopping\u00a0<\/em>company. Autocorrect is never there for you when you most ducking need it.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egytrans\/\">EgyTrans<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-banking\/\">investment banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ostool\/\">Ostool<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paradigm-logistics\/\">Paradigm Logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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=\"566147\" 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=\"566147\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/\">\r\n                            Almentor raises USD 6.5 mn financing round led by Partech                        <\/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\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/\" 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\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/')\">\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\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/\">\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=Almentor raises USD 6.5 mn financing round led by Partech&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/\">\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\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/&title=Almentor raises USD 6.5 mn financing round led by Partech\">\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=Almentor+raises+USD+6.5+mn+financing+round+led+by+Partech+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F31%2Falmentor-raises-usd-6-5-mn-financing-round-led-by-partech%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\/05\/31\/almentor-raises-usd-6-5-mn-financing-round-led-by-partech\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566147\" class=\"content-area-description single-story post-566147 post type-post status-publish format-standard hentry category-speed-round-startup-watch tag-education tag-egypt-ventures tag-enterprisepm tag-sawari-ventures tag-startup-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-02\"><\/a> <strong>Online self-learning platform <\/strong><strong><a href=\"https:\/\/www.almentor.net\/\">Almentor<\/a><\/strong><strong> has raised a third round of financing worth USD <\/strong><strong>6.5 mn<\/strong>, bringing their total investments to USD 14.5 mn, according to a <a href=\"https:\/\/bit.ly\/3fCWDwQ\">press release<\/a>. San Francisco-based VC firm Partech led the financing round with participation from Sawari Ventures, Egypt Ventures, and Sango Capital. Almentor has offices in Cairo, Dubai, and Saudi Arabia, offering English and Arabic-language virtual education courses from mentors including Khaled El Sawy, Mahmoud Elaraby, and Hazem Emam.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-ventures\/\">Egypt Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sawari-ventures\/\">Sawari Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566148\" 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=\"566148\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/\">\r\n                            Sodic, Ibnsina report higher net incomes, OIH narrows net losses                        <\/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\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/\" 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\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/')\">\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\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/\">\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=Sodic, Ibnsina report higher net incomes, OIH narrows net losses&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/\">\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\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/&title=Sodic, Ibnsina report higher net incomes, OIH narrows net losses\">\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=Sodic%2C+Ibnsina+report+higher+net+incomes%2C+OIH+narrows+net+losses+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F31%2Fsodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses%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\/05\/31\/sodic-ibnsina-report-higher-net-incomes-oih-narrows-net-losses\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566148\" class=\"content-area-description single-story post-566148 post type-post status-publish format-standard hentry category-go-with-the-flow tag-earnings tag-enterprisepm tag-go-with-the-flow tag-ibnsina-pharma tag-investment-watch tag-orascom-investment-holding tag-pharma tag-real-estate tag-sodic 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>EARNINGS WATCH- Sodic\u2019s bottom line surged over three-fold in 1Q2021,<\/strong> reaching EGP 100 mn after tax and minority interest, from only EGP 30 mn in the same quarter last year, the upmarket developer said in its <a href=\"https:\/\/ent.news\/2021\/5\/SODIC-earnings-EN-31-05-2021.pdf\">earnings release (pdf)<\/a>. Revenues for the quarter increased 60% y-o-y to EGP 849 bn, while gross contracted sales surged 114% to a record EGP 1.85 bn from 333 units sold. The company delivered 120 units in 1Q2021, up from 100 in 1Q2020. Nearly two-thirds of sales were in West Cairo, with newly launched development Karmell contributing to 35% of the quarter\u2019s sales and other projects in the area contributing a further 27%. Some 38% of sales were in East Cairo, led by Sodic East and Villette.<\/p>\n<p><strong>Looking ahead: <\/strong>\u201cWe are pleased and excited to deliver an excellent set of results for the first quarter of the year, putting us on track to achieve our annual guidance,\u201d Sodic Managing Director Magued Sherif said. The first quarter of 2021 was \u201cthe best \u2026 on record for gross contracted sales,\u201d supported by \u201cstrong momentum\u201d from the previous three months. The company will remain committed to construction and delivery timelines across its projects, and will continue to invest in a \u201cportfolio of prime assets to deliver on our strategy to create sizable future recurring revenues, Sherif added.<\/p>\n<p><strong>Ibnsina Pharma reported a net income of EGP 50.4 mn in 1Q2021,<\/strong> slightly up from EGP 50.3 mn from 1Q2020, according to its <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/isph\/ISP-ER-1Q21-E-Final.pdf\">earnings statement (pdf)<\/a>. Sales increased 7% during the quarter to reach EGP 4.75 bn, compared to EGP 4.44 bn in the same quarter in 2020.<\/p>\n<p><strong>The outlook: <\/strong>\u201cIbnsina Pharma welcomes the new year with optimism and in a position of strength \u2026 [as the] the first quarter has set Ibnsina Pharma on a path to even stronger growth,\u201d co-CEO Omar Abdel Gawad said. The company\u2019s priority area looking ahead is to leverage \u201call possible avenues\u201d for rapid growth and work on \u201cmargin-boosting efficiencies through a variety of cost-based measures,\u201d co-CEO Mohamed Abdel Gawad added.<\/p>\n<p><strong>Orascom Investment Holding (OIH) reported a 75.8% drop in its net losses to EGP 103 mn <\/strong><strong>in FY2020<\/strong>, compared to EGP 425 mn a year earlier, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/5\/OIH-Financials.pdf\">earnings<\/a><sup><\/sup><a href=\"https:\/\/ent.news\/2021\/5\/OIH-Financials.pdf\">release (pdf)<\/a>. Revenues fell to EGP 730.38 mn during the year from EGP 811.4 mn in 2019. Earlier this year, OIH spun off its non-bank financial services holdings into Orascom Financial Holdings through a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0c34203-11bd-4e8b-ad37-b861ca42b976\">horizontal demerger<\/a>.<\/p>\n<p><strong>MARKET ROUNDUP- <\/strong><\/p>\n<p><strong>The EGX30 rose less than 0.1% at today\u2019s close<\/strong> on turnover of EGP 1.77 bn (26.6% above the 90-day average). Foreign investors were net sellers. The index is down 4.9% YTD.<\/p>\n<p><strong>In the green: <\/strong>CI Capital (+13.3%), Export Development Bank (+3.3%) and Orascom Financial Holding (+3.1%).<\/p>\n<p><strong>In the red: <\/strong>Sidi Kerir Petrochem (-2.4%), Ibnsina Pharma (-2.4%) and Cleopatra Hospital (-2.0%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibnsina-pharma\/\">Ibnsina Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-investment-holding\/\">Orascom Investment Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"566149\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566150\" 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=\"566150\">\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\">ON THE HORIZON<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/\">\r\n                            Semiconductor shortage could take years to be resolved                        <\/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\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/\" 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\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/')\">\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\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/\">\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=Semiconductor shortage could take years to be resolved&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/\">\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\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/&title=Semiconductor shortage could take years to be resolved\">\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=Semiconductor+shortage+could+take+years+to+be+resolved+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F31%2Fsemiconductor-shortage-could-take-years-to-be-resolved%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\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/497.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566151\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/semiconductor-shortage-could-take-years-to-be-resolved\/497-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/497.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"497.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/497.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/497.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566150\" class=\"content-area-description single-story post-566150 post type-post status-publish format-standard has-post-thumbnail hentry category-on-the-horizon tag-covid-19 tag-enterprisepm tag-huawei tag-intel tag-japan tag-manufacturing tag-nokia tag-on-the-horizon tag-samsung tag-semiconductors tag-supply-chain tag-taiwan 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>Remember that semiconductor shortage? It\u2019s likely to stay with us for a while: <\/strong>A global lack of semiconductors \u2014 essential to making most electronic devices \u2014 could take several years to abate, with producers saying they still need time to up factory capacity, Intel CEO Pat Gelsinger told the virtual attendees of the Computex show in Taipei today (<a href=\"https:\/\/youtu.be\/ATz4TPWdVbk?t=668\">watch, runtime: 43:50<\/a>). The industry addressed short-term shortages that resulted from \u201cexplosive\u201d demand when mns worked and studied from home during the pandemic, but it could still take at least \u201ca couple of years for the ecosystem to address shortages of foundry capacity, substrates and components,\" Gelsinger said. Foxconn Chairman Young Liu, who leads an industry heavyweight supplying global tech brands including Apple, had <a href=\"https:\/\/www.ft.com\/content\/e1fcca5f-5937-4711-ac95-d690ce536e2d\">previously said<\/a> the shortage would only last until the start of 2022.<\/p>\n<p><strong>Gelsinger isn\u2019t the first CEO warning us of a prolonged shortage: <\/strong>Cisco CEO Chuck Robbins had warned that It might still take another <a href=\"https:\/\/www.bbc.com\/news\/technology-56847518\">six months<\/a>before production starts to pick up again. But even then, that would be a short term remedy, it\u2019ll be about 12 to 18 months before providers are really able to build out more capacity, he added. In the meantime, companies are engaged in fierce competition over available stocks of semiconductors in what Nokia CEO Pekka Lundmark described to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-29\/nokia-ceo-says-fight-for-semiconductors-may-drag-on-until-2023\">Bloomberg<\/a> as a, \u201cfight that could continue a year or even two.\u201d<\/p>\n<p><strong>The impact is being felt by manufacturers and consumers alike: <\/strong>Companies like <a href=\"https:\/\/www.npr.org\/2021\/04\/29\/991933904\/its-not-just-cars-ipads-and-macs-suffer-wrath-of-semiconductor-crunch\">Apple<\/a> and Samsung have been forced to <a href=\"https:\/\/www.theguardian.com\/business\/2021\/mar\/21\/global-shortage-in-computer-chips-reaches-crisis-point\">scale back production<\/a> of their technologies and have already announced delays in the releases of their newest smartphones because of the backlog. Sony and Microsoft have also struggled to keep pace with demand for their game consoles and are likely to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-17\/the-world-is-short-of-computer-chips-here-s-why-quicktake?srnd=premium-middle-east\">raise prices<\/a> in the absence of more chips. Even home appliance manufacturers like US-based Whirlpool, which produces microwaves and fridges, are <a href=\"https:\/\/www.reuters.com\/article\/us-chips-shortage-appliances\/fridges-microwaves-fall-prey-to-global-chip-shortage-idUSKBN2BL0ZY\">struggling<\/a> to meet demand for their goods because of a 10% shortfall in chip deliveries this past March.<\/p>\n<p><strong>US auto manufacturers are expected to take the biggest hit<\/strong> and lose out on some <a href=\"https:\/\/www.cnbc.com\/2021\/02\/11\/how-covid-led-to-a-60-billion-global-chip-shortage-for-automakers.html\">USD 60 bn in sales<\/a> this year due to the tight market conditions. Ford Motors has already downsized production by 1.1 mn units this year due to the shortage, which will see it lose out on some USD 2.5 bn in sales, according to the company\u2019s most recent <a href=\"https:\/\/s23.q4cdn.com\/799033206\/files\/doc_financials\/2021\/q1\/Ford-1Q2021-Earnings-Press-Release.pdf\">earnings release (pdf)<\/a>. Semiconductor stocks <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-28\/here-s-how-the-world-s-chip-shortage-is-playing-out-for-stocks\">are on the rise<\/a> however, with Taiwan Semiconductor Manufacturing Company (TSMC), the largest industry player, up 11% this year.<\/p>\n<p><strong>Here at home, Egypt\u2019s auto industry also said it\u2019s taken a slap, <\/strong>with major car manufacturers including GB Auto forced to slash production. Car makers weren\u2019t able to get their hands on enough key components used to control electrical systems in vehicles during the first few months of 2021, Khaled Saad, who heads the Egyptian Association of Automobile Manufacturers said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18f68872-74b1-487f-a40a-5615b65fe095\">earlier this month<\/a>.<\/p>\n<p><strong>It isn\u2019t just tech-heavy industries that are in a bind:<\/strong> Low-tech products like light-bulbs, toaster ovens, washing machines and car parts, which have been increasingly relying on chips in recent years to provide consumers with smart control systems, are also <a href=\"https:\/\/www.washingtonpost.com\/technology\/2021\/05\/02\/chip-semiconductor-shortage-impact\/\">beginning to suffer<\/a> from semiconductor scarcity. The problem is particularly exacerbated for low-tech players because most manufacturers have oriented their production towards the more sophisticated, and expensive, variety of semiconductors \u2014 meaning that it might take even more time before we see supply rebound for these companies.<\/p>\n<p><strong>So, what are companies doing about it? <\/strong>TSMC <a href=\"https:\/\/asia.nikkei.com\/Business\/Tech\/Semiconductors\/TSMC-hikes-capex-to-record-28bn-as-chip-race-heats-up\">expects<\/a> to spend USD 28 bn in capital expenditure this year, up from USD 18 bn it had earmarked a year earlier, while Samsung is putting in some USD 116 bn over the next decade to bolster operations. Former chip manufacturing leader, Intel, is also working to get in on the gold rush and has <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-23\/intel-to-spend-billions-on-manufacturing-revival-taking-on-tsmc\">announced<\/a> a USD 20 bn plan to build two new factories in Arizona and open its existing plants to outside customers.<\/p>\n<p><strong>In the US, <\/strong><strong><a href=\"https:\/\/www.theverge.com\/2021\/2\/11\/22278431\/biden-administration-global-semiconductor-chip-shortage-executive-order\">tax incentives<\/a><\/strong><strong> are separately in the works <\/strong>for a proposed <a href=\"https:\/\/edition.cnn.com\/2020\/05\/15\/tech\/tsmc-arizona-chip-factory-intl-hnk\/index.html\">USD 12 bn TSMC plant<\/a> in Arizona and <a href=\"https:\/\/www.reuters.com\/article\/usa-semiconductors-samsung-elec-idUSL1N2KA3EJ\">a USD 17 bn Samsung facility<\/a> that could potentially land in Texas. This will help encourage the development of a local US supply chain and semiconductor independence. The EU could also be moving in the same direction, with the European Commission setting its sights on <a href=\"https:\/\/www.bbc.com\/news\/technology-56334210\">boosting chip<\/a> production to constitute 20% of the global market by 2030, with the help of Samsung and TSMC.<\/p>\n<p><strong>BACKGROUND- So what exactly is causing it?<\/strong> Demand for electronic appliances like cell phones and laptops, which <a href=\"https:\/\/www.gartner.com\/en\/newsroom\/press-releases\/2021-01-11-gartner-says-worldwide-pc-shipments-grew-10-point-7-percent-in-the-fourth-quarter-of-2020-and-4-point-8-percent-for-the-year\">soared during the pandemic<\/a>, snapped up a large chunk of the global supply of chips this past year. Meanwhile, car manufacturers \u2014 who also heavily rely on semiconductors \u2014 reduced new orders of chips, in anticipation of a longer recovery from the pandemic. Chipmakers were then blindsided when a resumption in automobile demand picked up earlier this year, with manufacturers rushing to place new orders for chips, causing a supply crunch. The bottle-necked supply chain was also hit by a slew of <a href=\"https:\/\/www.axios.com\/chip-shortage-japanese-plant-2054024d-a5ee-4618-8bef-cb99e7e23a7a.html\">fires at Japanese facilities<\/a>, a <a href=\"https:\/\/www.bbc.com\/news\/technology-56198269\">major drought in Taiwan<\/a> and <a href=\"https:\/\/www.bbc.com\/news\/technology-56114503\">an arctic blast in Texas<\/a> that forced major manufacturing facilities offline and significantly disrupted production.<\/p>\n<p><strong>Wait, there\u2019s more: <\/strong>Some computer and cell phone manufacturers like Huwawei had <a href=\"https:\/\/www.bbc.com\/news\/technology-54266531\">started hoarding<\/a> semiconductors early on in anticipation of a shortage, which further undercut their availability in the market. Major stockpiling efforts in China, which saw companies collectively spend some <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-17\/the-world-is-short-of-computer-chips-here-s-why-quicktake?srnd=premium-middle-east\">USD 380 bn<\/a> on chips in 2020, were also invigorated by the country\u2019s trade war with the US which threatened to cut off access to manufacturers, depleting available stocks of the silicon chips even further.<\/p>\n<p><strong>We broke down the bits and pieces of the shortage<\/strong> when it first started making frequent headlines earlier this year in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44d132d4-a514-402b-b4fe-67f73f6b81d5\">in-house explainer.<\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/huawei\/\">Huawei<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/intel\/\">Intel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nokia\/\">Nokia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-horizon\/\">ON THE HORIZON<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/samsung\/\">Samsung<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/semiconductors\/\">semiconductors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taiwan\/\">Taiwan<\/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=\"566152\" 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=\"566152\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">PARTING SHOT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/how-to-master-the-dark-art-of-work-life-balance\/\">\r\n                            How to master the dark art of work-life balance                        <\/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\/05\/31\/how-to-master-the-dark-art-of-work-life-balance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Rather than slotting in fixed hours for work time and \u201cme time,\u201d finding real balance requires a degree of flexibility and awareness that will allow you to adjust priorities depending on the moment.<\/p>\n<p><strong>More about emotion than time management: <\/strong>In a <a href=\"https:\/\/journals.sagepub.com\/doi\/full\/10.1177\/0170840620934064\">survey<\/a> of 80 London-based professionals conducted by researchers at ESSEC Business School in France and the University of Roehampton in the UK, respondents who reported the highest levels of satisfaction with their work-life balance, said it was less about resolving scheduling conflicts and efficiency hacks, and more about emotional responses and introspection. \u201cWhat we call \u2018work-life balance\u2019 is actually just a proxy to having a sense of fulfilment and contentment,\u201d says NYU clinical associate professor of management Anat Lechner. The survey came up with five key recommendations to achieve this.<\/p>\n<p><strong>A five step process to fulfillment:<\/strong> First, the framework suggests people question the assumption that work is the only path to fulfillment, and take some time to unpack why they may believe that. Next, people should take stock of their values and identify pressing frustrations in their lives. Feelings associated with these stressors should be taken into account before eventually reprioritizing what matters. Considering the tradeoff if they were to work fewer hours is the next step, followed by identifying what can actually be changed in their lives to accommodate new priorities. The final step involved implementing an action or decision to address concerns in some way.<\/p>\n<p><strong>All this to say: expect your employees to push for more flexible hours: <\/strong>All the soul-searching in the world can prove meaningless if a work environment fails to prioritize employees\u2019 well-being. Incorporating flexible management schemes that take people\u2019s uniquely individual situations into account is crucial to helping employees reach a place of personal satisfaction.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/office-life\/\">office life<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/parting-shot\/\">PARTING SHOT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566154\" 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\/05\/31\/your-essential-business-calendar-on-31-may-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566154\" class=\"content-area-description single-story post-566154 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>31 May (Monday): Egypt is hosting Trescon Global\u2019s <a href=\"https:\/\/www.tresconglobal.com\/conferences\/ai\/egypt\/\">World AI Show<\/a> with the support of ITIDA.<\/p>\n<p>7 June (Monday): British Egyptian Business Association hosts an event featuring Oil Minister Tarek El Molla.<\/p>\n<p>3-6 June (Thursday-Monday): Egypt is hosting the <a href=\"https:\/\/www.gymnastics.sport\/site\/events\/detail.php?id=16598#loaded\">FIG World Challenge Cup<\/a> in Artistic Gymnastics.<\/p>\n<p>14 June (Monday): Egypt's Green Economy Forum.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday): The International Exhibition of Materials and Technologies for Finishing and Construction (Turnkey Expo), Cairo International Conference Center.<\/p>\n<p>20 June (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/p>\n<p>22-27 June (Tuesday-Sunday): The <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11445\">CIB PSA World Tour Finals<\/a> for 2020-2021 will take place in Cairo.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): The Big 5 Construct Egypt, Cairo International Convention Center, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): The IMF will complete a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>July + August: Thanaweya Amma exams take place.<\/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 to the e-invoicing platform will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>1 July (Thursday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>15 June (Saturday): EGX-listed will have to complete filing their financial disclosures for the period ended 31 March.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday).<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai 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>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\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":566142,"template":"","categories":[],"tags":[],"class_list":["post-566141","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8ceb2dc7-5d11-4a26-aa95-07ab4a36f9e1","teaser":"","photo_url":"https:\/\/ent.news\/2021\/5\/490.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 EgyTrans, HA Utilities agreement back on after FRA slams Paradigm Logistics partnership. - 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-egytrans-ha-utilities-agreement-back-on-after-fra-slams-paradigm-logistics-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise EgyTrans, HA Utilities agreement back on after FRA slams Paradigm Logistics partnership.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egytrans-ha-utilities-agreement-back-on-after-fra-slams-paradigm-logistics-partnership\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:17:09+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/490.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-egytrans-ha-utilities-agreement-back-on-after-fra-slams-paradigm-logistics-partnership\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egytrans-ha-utilities-agreement-back-on-after-fra-slams-paradigm-logistics-partnership\/\",\"name\":\"Enterprise EgyTrans, HA Utilities agreement back on after FRA slams Paradigm Logistics partnership. - 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