{"id":566189,"date":"2021-06-02T13:50:34","date_gmt":"2021-06-02T13:50:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566189"},"modified":"2025-12-16T05:18:22","modified_gmt":"2025-12-16T05:18:22","slug":"its-a-bit-slow-but-all-the-news-is-good","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-a-bit-slow-but-all-the-news-is-good\/","title":{"rendered":"It\u2019s a bit slow, but all the news is good"},"content":{"rendered":"<section id=\"566191\" 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=\"566191\">\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\/06\/02\/tonight-time-running-out-for-israeli-coalition-talks-real-world-data-says-astrazeneca-is-as-good-as-pfizer\/\">\r\n                            TONIGHT- Time running out for Israeli coalition talks + real-world data says AstraZeneca is as good as Pfizer                        <\/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\/06\/02\/tonight-time-running-out-for-israeli-coalition-talks-real-world-data-says-astrazeneca-is-as-good-as-pfizer\/\" 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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Lapid had hoped to announce yesterday the formation of a government and then blew a second deadline of this morning. He has until just before midnight tonight to tell Israel\u2019s president that he\u2019s formed a government, which would still face a confidence vote in the Knesset (most likely next week). <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-lapid-enlists-gantz-moves-closer-unseating-netanyahu-2021-06-02\/\">Reuters<\/a> thinks he\u2019s nearly across the finish line. The <a href=\"https:\/\/www.timesofisrael.com\/judicial-appointments-the-only-remaining-snag-as-lapid-set-to-declare-government\/\">Times of Israel<\/a> and <a href=\"https:\/\/www.jpost.com\/israel-news\/new-government-still-not-ready-669875\">Jerusalem Post<\/a> have more.<\/p>\n<p><strong>MEANWHILE: Could the EBRD have some cold, hard cash for us <\/strong>to finance upgrades to lines one and two of the Cairo Metro? A delegation met today with Transport Minister Kamel El-Wazir to discuss \u201cfuture cooperation\u201d on everything from railways to maritime transport and ports, but the importance of \u201cupgrades\u201d to Metro lines one and two leads the readout running on <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/413423\/Egypt\/Politics-\/Egypts-transport-ministry-pays-big-attention-to-up.aspx\">state news agency MENA<\/a>.<\/p>\n<p><strong>Are we about to get a new national holiday? <\/strong>Pope Tawadros II has suggested making 1 June a national holiday in observance of the arrival in Egypt of the Holy Family (Jesus, Mary and Joseph), which he noted is \u201cone of the fixed feasts of the Coptic Orthodox Church.\u201d The story is everywhere from <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/413419\/Egypt\/Politics-\/Pope-Tawadros-II-proposes-designating-entry-of-Hol.aspx\">Ahram Online<\/a> to <a href=\"https:\/\/gate.ahram.org.eg\/News\/2754644.aspx\">Ahram Gate<\/a>.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/p>\n<ul>\n<li><strong>Foreign holdings of Egyptian treasury bills <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af7c2e78-e82f-466d-8ead-6685971c5842\">jumped to USD 20.8 bn<\/a><\/strong> at the end of April from USD 20 bn in March, with investors having put almost USD 3 bn into the short-term debt instruments during the first four months of the year.<\/li>\n<li><strong>Covid cases <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24bacbb1-a2aa-4e35-a07b-4fd0e84ec3ec\">continued to fall<\/a><\/strong><strong> here at home<\/strong> \u2014 and the WHO has given Sinovac emergency use approval. Sinovac is one of two vaccines Egypt will manufacture, aiming to produce the first 3 mn doses as early as this month.<\/li>\n<li><strong>Wadi Degla Developments is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/214a971d-d6bf-4aff-9645-2e61b7391838\">planning a sukuk issuance<\/a><\/strong><strong> worth nearly EGP 2 bn<\/strong> next month that will be managed by Contact Financial (previously known as Sarwa Capital) and Misr Capital.<\/li>\n<\/ul>\n<p><strong>It\u2019s another slow news day abroad<\/strong> with perhaps the \u201cbiggest\u201d news being that Dogecoin (which started life as a spoof) just saw its price shoot up 20% after crypto exchange operator Coinbase said it would probably allow it to trade. <strong>Elon Musk is cheering<\/strong>, notes the <a href=\"https:\/\/www.wsj.com\/articles\/dogecoin-price-jumps-on-coinbase-debut-prospect-11622633019\">Wall Street Journal<\/a>, even though <a href=\"https:\/\/www.wsj.com\/articles\/tesla-failed-to-oversee-elon-musk-s-tweets-sec-argued-in-letters-11622582765\">Tesla is being hammered this morning<\/a> in the press amid suspicions the SEC thinks the company failed to adequately police the entrepreneur\u2019s use of Twitter.<\/p>\n<p><strong>And speaking of Elon and Twitter (and possible signs of the apocalypse):<\/strong> Shares of Samsung Publishing are up 10% as the Baby Shark publisher got a boost from an Elon <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1399874980062633985\">tweet<\/a> about the viral song. <a href=\"https:\/\/www.cnbc.com\/2021\/06\/02\/elon-musk-tweets-again-sending-shares-of-baby-shark-investor-soaring.html\">CNBC<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-02\/-baby-shark-investor-jumps-after-elon-musk-tweets-on-viral-song?srnd=premium-middle-east\">Bloomberg<\/a> are both on the story.<\/p>\n<hr class=\"grey-line\">\n<p><strong>You can stop dreaming of being Pfizered now #1: <\/strong>Pfizer\u2019s covid-19 vaccine could be responsible for heart inflammations in a small number of young males, the Israeli Health Ministry said Tuesday, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-sees-probable-link-between-pfizer-vaccine-small-number-myocarditis-cases-2021-06-01\/\">Reuters<\/a> reports. Israeli researchers found 275 cases of the condition termed myocarditis among the 5 mn vaccinated individuals in the country, but 95% of the cases were classified as mild.<\/p>\n<p><strong>You can stop dreaming of being Pfizered now #2:<\/strong> The vaccine is no more protective against most negative covid-19 outcomes than is AstraZeneca, according to <a href=\"https:\/\/ent.news\/2021\/6\/Vaccine_surveillance_report_-_week_20.pdf\">UK government data (see table 1 on page 8, pdf)<\/a>.<\/p>\n<p><strong>BUT VACCINES WORK, DAMNIT- The UK reported no new deaths from covid-19 <\/strong>yesterday, the first time since July of last year, according to <a href=\"https:\/\/www.theguardian.com\/world\/2021\/jun\/01\/zero-daily-covid-deaths-announced-in-uk\">the Guardian<\/a>.<\/p>\n<p><strong>Okay, but are we all gonna die of bird flu?<\/strong> Probably not, <a href=\"https:\/\/www.reuters.com\/world\/china\/so-far-low-risk-human-spread-h10n3-bird-flu-2021-06-02\/\">Reuters<\/a> says, noting that experts say there is \u201cso far\u201d a low risk of human spread of the H10N3 flu virus.<\/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>FOR TOMORROW-<\/strong> <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 tomorrow and run until Sunday.<\/p>\n<p><strong>The British Egyptian Business Association will hold a virtual conversation with Oil <\/strong><strong>Minister Tarek El Molla on 7 June<\/strong> to discuss the sector\u2019s achievements. You can register <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_MVUuhotDTyOEplB7iVpuNw\">through this link<\/a>.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>Jeff Bezos wants you to toke up.<\/strong> Or maybe he just wants to sell you a quarter of your favourite varietal. Either way, it feels like 4\/20 today as Amazon has said it backs proposed US legislation to legalize weed at the federal level. The online retailer will suspend narcotics testing for job hiring for all employees except those working in transport, consumer boss Dave Clark said in a <a href=\"https:\/\/www.aboutamazon.com\/news\/operations\/update-on-our-vision-to-be-earths-best-employer-and-earths-safest-place-to-work\">blog post<\/a>. Clark called for more employers to follow the move and urged policymakers to push the legislation through. Meanwhile, Amazon is also amending its Time off Task \u2014 a policy that monitors how long an employee is logged into software tools, adding that the intent of the policy is to find operational systemic defects (not spying on employees, right?).<\/p>\n<p><strong>STEAL THIS BUSINESS idea: <\/strong>Portugal accounts for just 2% of the European Union\u2019s population \u2014 but produces about <a href=\"https:\/\/www.nytimes.com\/2021\/06\/02\/world\/europe\/portugal-bike-boom.html?smtyp=cur&smid=tw-nytimes\">a quarter of the bloc\u2019s bicycles<\/a>, making \u201cthe industry \u2026 one of Portugal\u2019s fastest-growing employers.\u201d<\/p>\n<p><strong>A new global agreement could require all listed companies in signatory countries to <\/strong><strong>report their <\/strong><strong>exposure to climate risks.<\/strong> The framework could be agreed at the UN\u2019s <a href=\"https:\/\/ukcop26.org\/\">COP26<\/a> climate change conference in November, Governor of France\u2019s central bank Fran\u00e7ois Villeroy de Galhau tells the <a href=\"https:\/\/www.ft.com\/content\/9496a30e-a202-4e9c-932d-f9c52f25c77e\">Financial Times<\/a>. <strong>France has for years required banks and ins. companies to disclose their exposure to climate risks<\/strong>, while the UK wants to make it mandatory starting 2025. The EU is also revising its rules on non-financial disclosure, while the US has said it would join with Europe in calling for mandatory and standardized disclosure rules.<\/p>\n<p><strong>More than half of the G7 bailouts for energy-producing and -consuming activities led to <\/strong><strong>pollution-causing emissions<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/6\/2021-Tearfund-Consortium-Cleaning-up-their-act-g7.pdf\">report (pdf)<\/a> by development charity TearFund picked up by the <a href=\"https:\/\/www.ft.com\/content\/fdae5476-28b8-4a81-96b7-55a660f24558\">FT<\/a>. Some USD 189 bn of pandemic recovery funds \u2014 out of a total of USD 372 bn \u2014 were used for the oil, gas, coal, and transport sectors and the G7 countries are coming under fire for handing over the lifelines \u201cwith no strings attached\u201d. The report called for \u201cgreen strings\u201d to be required when offering financing in efforts to accelerate the shift to green economies.<\/p>\n<p><strong>Why we should care, part MMCVII: \u201cOur grandchildren could experience a climate last <\/strong><strong>seen <\/strong><strong>when crocodiles roamed the Arctic,\u201d<\/strong> writes WSJ tech columnist Christopher Mims, noting that the last time there was this much CO2 in the earth\u2019s atmosphere, \u201csea levels were 20 meters higher and trees grew in Arctic.\u201d Mims was <a href=\"https:\/\/twitter.com\/mims\/status\/1400041339899846659\">tweeting<\/a> about this paper in Phys.org: <strong><a href=\"https:\/\/phys.org\/news\/2021-06-earth-history-climate.html\">Earth's history sends climate warning<\/a><\/strong>.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>\u201cA black hole is stranger than anything dreamed up by science fiction writers.\u201d<\/strong> That\u2019s how the late Stephen Hawking opens the newly released documentary <a href=\"https:\/\/www.imdb.com\/title\/tt11863046\/\">Black Holes: The Edge<\/a><a href=\"https:\/\/www.imdb.com\/title\/tt11863046\/\">of All We Know<\/a>. Filmed over four years, the documentary follows scientists as they attempt to understand and capture the first image of black holes. Getting that image was no easy feat, with the nearest black hole so far away it would require a telescope the size of Earth to capture. Instead, scientists used the Event Horizon Telescope collaboration: eight observatories working together from six mountains spanning four continents. The idea, implementation, and final product are all depicted in the documentary which you can watch on <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81343342\">Netflix<\/a> or <a href=\"https:\/\/tv.apple.com\/us\/movie\/black-holes-the-edge-of-all-we-know\/umc.cmc.2f92wv5hovhrzfzdrl265abvr\">Apple TV<\/a>. The doc\u2019s creators also talk to <a href=\"https:\/\/www.theguardian.com\/film\/2021\/may\/26\/stranger-than-anything-dreamed-up-by-sci-fi-will-we-ever-understand-black-holes\">The Guardian<\/a> about their film.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>The Om Kalthoum puppet show <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/206529231110590\/?active_tab=about\">will be shown today<\/a><\/strong><strong> at El Sawy Culturewheel at <\/strong><strong>6pm. <\/strong>The puppet of the iconic singer will perform Amal Hayaty and Lel Sabr Hodood.<\/p>\n<p><strong>Ubuntu Art Gallery is hosting the exhibition <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/219808726275469\/?active_tab=about\">Look Them in the Eye<\/a><\/strong><strong> by Nada Mobarak<\/strong> which will run until 12 June.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>The mathematical models running your life: <\/strong>With a background in physics, economics, and sociology, Pablo Jensen explores the modern mathematical models that scientists use to define and run a society in <a href=\"https:\/\/www.amazon.com\/Your-Life-Numbers-Modeling-Society\/dp\/3030651029\">Your Life in Numbers: Modeling Society Through Data<\/a>. These models are used to interpret everything from economic growth, climate change, epidemiology, and urban planning, he argues, though the data may not always be accurate and models may be doing more harm than good. The book is untechnical and accessible to anyone, with Jensen using easy examples to delve into how complex numerical models work and how they are used in practice.<\/p>\n<p><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Expect daytime highs of 34\u00b0C and nighttime lows of 19\u00b0C tomorrow through Sunday, according to our favorite weather app.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elon-musk\/\">Elon Musk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g7\/\">G7<\/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\/israel\/\">Israel<\/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\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/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 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ROUND: TOURISM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/\">\r\n                            Colliers ups outlook for Red Sea destinations                        <\/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\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/colliers-ups-outlook-for-red-sea-destinations\/407-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/407.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"407.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/407.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/407.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566193\" class=\"content-area-description single-story post-566193 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-tourism tag-aviation tag-colliers-international tag-diplomacy tag-enterprisepm tag-hospitality tag-red-sea tag-tourism 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>Colliers international is now more hopeful about the Red Sea\u2019s tourism prospects <\/strong><strong>for 2021. <\/strong>The real estate services company has <a href=\"https:\/\/ent.news\/2021\/6\/MENA-Hotel-Forecasts-June-2021-English.pdf\">upped its full-year hotel occupancy forecasts (pdf)<\/a> for Sharm El Sheikh and Hurghada. Occupancy in Sharm is forecast at 42% this year, up 81% from 2020, while hotels in Hurghada are expected to see 46% occupancy, nearly double last year\u2019s rate. Colliers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4653fd02-fbd9-4956-8eb3-d6fdbad3dbc7\">last month<\/a> said it thought Sharm would hit a 37% rate and Hurghada 38%. Hotel occupancy nationwide <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ebd2e351-53ca-4fe0-81c0-e6cf75d31a99\">averaged 40-45%<\/a> during the first quarter of 2021 and rates have been gradually increasing, a Tourism Ministry official said earlier this year.<\/p>\n<p><strong>Colliers expects occupancy rates in Cairo to increase to 44% this year<\/strong>, up 62% y-o-y, and rates in Alexandria to rise by 31% y-o-y to 59%. Both forecasts were only slightly changed from its May report.<\/p>\n<p><strong>Tourism revenues are now expected to come in somewhere between USD 6 bn and USD 9 bn in 2021<\/strong>, thanks to rising bookings from Eastern Europe and the Gulf, Tourism Minister Khaled El Anany said last week. The announcement was an upwards revision of Egypt\u2019s tourism revenue targets for 2021, which El Enany had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6405eda-1bf2-43d9-8236-f947f937034b\">last month put at USD 8 bn<\/a>. Recovering arrivals are setting us on track to welcome a little over 6 mn visitors by the end of the year.<\/p>\n<p><strong>We\u2019re still waiting to hear on an expected date for the great Russian return: <\/strong>The resumption of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c519a123-45d0-4854-bea1-74e7059dfcfd\">direct flights from Russia to red sea destinations<\/a> was originally slated for June, but has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb5dcfbb-f5d3-4d09-909c-6db7ed5c5be8\">seemingly been indefinitely postponed<\/a> as the Russians evaluate the covid-19 situation. A Russian delegation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb68aa31-77cf-4688-a9c8-4d5e78ca25ac\">earlier this week<\/a> arrived to inspect airports in Hurghada and Sharm El Sheikh, as part of ongoing investigations into the <a href=\"https:\/\/enterprise.press\/issues\/2015\/11\/01\/authorities-downplay-wilayet-sina-claim-of-terror-attack-as-russian-charter-goes-down-in-sinai\/\">2015 Metrojet crash in Sinai<\/a>, which had prompted the initial suspension of flights.<\/p>\n<p><strong>REMINDER-<\/strong> Even with a huge influx of tourists, hotels must still operate at only 50% occupancy due to government restrictions designed to curb the spread of covid-19.<\/p>\n<p><strong>How is the rest of the region faring? Colliers\u2019 forecast for vaccine superstar UAE signals our Emirati neighbors have essentially beat covid<\/strong>, with occupancy in four Dubai hotspots expected at an average of 66% in 2021. Abu Dhabi is also set to do relatively well at 54% projected occupancy, with hotel activity seen booming in Ras Al Khaimah. Over in Saudi Arabia, mean forecasts are 45%, with Jeddah expected to check in the most guests. Elsewhere in the GGC, Doha hotels are expected to see occupancy rates of 67%. The outlook is more pessimistic in Beirut and Amman, which are expected to see rates of 33% and 32% respectively.<\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/colliers-international\/\">Colliers International<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"566195\" 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=\"566195\">\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<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/\">\r\n                            Your rundown on the industries the gov\u2019t thinks are priorities going forward                        <\/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\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/\" 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\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/')\">\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\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/\">\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=Your rundown on the industries the gov\u2019t thinks are priorities going forward&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/\">\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\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/&title=Your rundown on the industries the gov\u2019t thinks are priorities going forward\">\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=Your+rundown+on+the+industries+the+gov%E2%80%99t+thinks+are+priorities+going+forward+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F02%2Fyour-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward%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\/06\/02\/your-rundown-on-the-industries-the-govt-thinks-are-priorities-going-forward\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566195\" class=\"content-area-description single-story post-566195 post type-post status-publish format-standard hentry category-speed-round tag-economic-reform-program tag-el-sisi tag-enterprisepm tag-legislation tag-speed-round 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 Sisi administration has a new basket of structural reforms in the pipeline \u2014 and these are the industries most likely to benefit<\/strong>, based on an <a href=\"https:\/\/ent.news\/2021\/6\/El-Sisi-and-ministers-reform-basket-number-two.pdf\">Ittihadiya readout (pdf)<\/a> of a meeting the president held yesterday with Prime Minister Moustafa Madbouly and the ministers of planning, finance, CIT, agriculture, and trade and industry. The readout says the discussion focused on the <strong>second phase of economic and social reforms <\/strong>the administration plans to enact.<\/p>\n<p><strong>Among the business-relevant highlights:<\/strong><\/p>\n<ul>\n<li><strong>Priority industries<\/strong> include \u201ctech-intensive manufacturing,\u201d agriculture, and communications and IT, where the government is looking to boost exports, create jobs and encourage the growth of SMEs. The statement singled-out the rising contribution of \u201chigh-tech products\u201d in Egypt\u2019s exports;<\/li>\n<li><strong>Transportation and logistics infrastructure<\/strong> is at the top of the priority list alongside <strong>financial inclusion<\/strong> and the rollout of more <strong>fiber-optic cables<\/strong> nationwide;<\/li>\n<li><strong>Agriculture got a lot of attention<\/strong>. Policymakers are looking to create jobs and grow agri exports while also driving \u201cdigital transformation\u201d in the industry;<\/li>\n<li>Look for new investments in <strong>technical and vocational education<\/strong> as well as the <strong>healthcare<\/strong> system;<\/li>\n<li>Continued strengthening of the <strong>social safety net<\/strong>, which will likely see add-ons or adjuncts to the successful Takaful and Karama programs.<\/li>\n<\/ul>\n<p><strong>Bringing more government services online <\/strong>and investing in tech education are also priorities, the readout suggested, adding that <strong>the green economy and clean energy <\/strong>\u201cremain of primary importance,\u201d alongside the development of the country\u2019s manufacturing infrastructure.<\/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\/economic-reform-program\/\">economic reform program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-sisi\/\">El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/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=\"566196\" 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=\"566196\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/are-we-there-yet\/\">\r\n                            Are we there yet?                        <\/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\/06\/02\/are-we-there-yet\/\" 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\/06\/02\/are-we-there-yet\/')\">\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\/06\/02\/are-we-there-yet\/\">\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=Are we there yet?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/are-we-there-yet\/\">\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\/06\/02\/are-we-there-yet\/&title=Are we there yet?\">\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=Are+we+there+yet%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F02%2Fare-we-there-yet%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\/06\/02\/are-we-there-yet\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/409.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566197\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/are-we-there-yet\/409-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/409.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"409.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/409.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/409.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566196\" class=\"content-area-description single-story post-566196 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-economy tag-development tag-economy tag-enterprisepm tag-hala-el-said tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt is expected to (almost) match its pre-pandemic growth level in this <\/strong><strong>final quarter of the state\u2019s current fiscal year.<\/strong> The economy is penciled in to grow 5.2-5.5% this quarter, which wraps up on 31 June, according to figures Planning and Economic Development Minister Hala El Said presented at <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/147426700761092\">today\u2019s cabinet meeting<\/a>. While growth for the full fiscal year is still expected to be muted as the economy expanded only 1.9% during the first nine months, the hopeful forecast for the final quarter puts us on track to lean toward pre-pandemic growth levels in FY2021-2022.<\/p>\n<p><strong>What\u2019s the outlook like? <\/strong>Forecasts from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ef6b22b-dea2-4bf2-9beb-78c9146d2670\">IMF<\/a> and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fd136c3-bbdd-4838-8e29-2717a1ff5eea\">African Development Bank<\/a> put growth for the upcoming 2021-2022 fiscal year and in 2022 at between 5.0% and 5.5%, which is just slightly lower than a 5.8% pre-covid target the government was hoping to achieve <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b76f4e40-96de-4115-9c51-34c2a8378c0d\">in FY2019-2020<\/a>. <strong>The government predicted growth of 5.4-6.0% <\/strong>in FY2021-2022 in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">draft budget approved in March<\/a>.<\/p>\n<p><strong>Egypt\u2019s economy grew at a 2.9% clip in 3Q2020-2021, <\/strong>up from 2% in the previous quarter, thanks to a recovery in the tourism sector, El Said said. Other areas that had been hit by the pandemic, including manufacturing and Suez Canal revenues, have also had a better run so far into the year, the minister said. The third quarter of the state\u2019s ongoing fiscal year ran between January and April 2021. Growth in 3Q2020-2021 was <strong>more or less in line with government <\/strong><strong>forecasts<\/strong>, which put growth for the quarter at 2.8% <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99c37ce8-a356-4bc1-a235-68278c8f7ed9\">earlier this year<\/a>.<\/p>\n<p><strong>The telecom, construction, logistics, agriculture, healthcare, and education sectors led <\/strong> growth throughout the third quarter of the fiscal year and further into 4Q, El Said said. Growth rates in these sectors accelerated y-o-y after the government eased covid-19 restrictions in July, the minister said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25d427c0-fd9e-4e70-a4c2-e17a64361390\">late last year<\/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\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"566198\" 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=\"566198\">\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\">SPEED ROUND: ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/huawei-is-cooking-up-its-own-mobile-os-us-banks-arent-banking-bank-on-spac-listings\/\">\r\n                            Huawei is cooking up its own mobile OS + US banks aren\u2019t banking bank on SPAC listings                        <\/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\/06\/02\/huawei-is-cooking-up-its-own-mobile-os-us-banks-arent-banking-bank-on-spac-listings\/\" 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\/06\/02\/huawei-is-cooking-up-its-own-mobile-os-us-banks-arent-banking-bank-on-spac-listings\/')\">\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\/06\/02\/huawei-is-cooking-up-its-own-mobile-os-us-banks-arent-banking-bank-on-spac-listings\/\">\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=Huawei is cooking up its own mobile OS + US banks aren\u2019t banking bank on SPAC listings&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/huawei-is-cooking-up-its-own-mobile-os-us-banks-arent-banking-bank-on-spac-listings\/\">\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\/06\/02\/huawei-is-cooking-up-its-own-mobile-os-us-banks-arent-banking-bank-on-spac-listings\/&title=Huawei is cooking up its own mobile OS + US banks aren\u2019t banking bank on SPAC listings\">\n                    LinkedIn                    <!-- <img decoding=\"async\" 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                  <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566198\" class=\"content-area-description single-story post-566198 post type-post status-publish format-standard hentry category-speed-round-also-on-our-radar tag-also-on-our-radar tag-enterprisepm tag-huawei tag-spacs 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>Other stories we\u2019re keeping an eye on <\/strong>as we prepare to slide into the final workday of the week:<\/p>\n<ul>\n<li><strong>Chinese telecom giant Huawei is expected to soon roll out its own mobile <\/strong><strong>OS<\/strong> after it was cut off from crucial American tech provided by Google after landing on a US trade blacklist in 2019, the <a href=\"https:\/\/apnews.com\/article\/operating-systems-smartphones-technology-business-412ee1e62457e54a742f5ab53d25e4a4\">Associated Press<\/a> reports.<\/li>\n<li><strong>Chinese manufacturers forced to ration power worry they may not meet <\/strong><strong>their orders<\/strong>, with some factories being forced to shut for one to three days a week to curb the electricity shortage the country is facing after a heatwave and economic recovery combined to fuel peak consumption, according to the <a href=\"https:\/\/www.ft.com\/content\/80b35489-a18d-4e51-8665-167a7d9e7ce1\">Financial Times<\/a>.<\/li>\n<li><strong>Fees made by US investment banks from SPAC listings in the past two <\/strong><strong>months tumbled<\/strong> to just USD 430 mn, from a record USD 3 bn in January and February during the peak of the SPAC craze, Refinitiv data <a href=\"https:\/\/www.ft.com\/content\/88d7f577-9bfa-4215-b57b-0f8a4da3644a\">cited by the FT<\/a> showed.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/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\/spacs\/\">SPACs<\/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=\"566199\" 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=\"566199\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\">\r\n                            IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake                        <\/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\" 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target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/&title=IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=IDH+reports+surge+in+1Q2021%2C+drive+by+covid+tests+%2B+OIH+sells+down+Beltone+stake+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F02%2Fidh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake%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\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566199\" class=\"content-area-description single-story post-566199 post type-post status-publish format-standard hentry category-go-with-the-flow tag-covid-19 tag-earnings-watch tag-enterprisepm tag-go-with-the-flow tag-healthcare tag-integrated-diagnostics-holding tag-investment-watch tag-nile-cotton-ginning tag-orascom-investment-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 fell 1.2% at today\u2019s close<\/strong> on turnover of EGP 1.69 bn (23.1% above the 90-day average). Local investors were net buyers. The index is down 6.7% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ibnsina Pharma (+3.8%), Emaar Misr (+1.4%) and Edita (+0.8%).<\/p>\n<p><strong>In the red: <\/strong>Cleopatra Hospital (-4.1%), Talaat Moustafa Group Holding (-3.0%) and Orascom Financial Holding (-2.9%).<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>EARNINGS WATCH- Integrated Diagnostics Holding\u2019s (IDH) net income soared 230% <\/strong><strong>y-o-y in 1Q2021 <\/strong>to EGP 339 mn, according to the company\u2019s <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/idh\/IDH-1Q2021-Earnings-Release-E-FINAL.pdf\">quarterly earnings filing (pdf)<\/a>. Strong bottomline growth came on the heels of a 126% increase in revenues, which reached EGP 1.13 bn in 1Q2021, and was built on momentum generated during 2H2020 and an explosion in the demand for covid-19 testing offered by the diagnostics giant. Growth was spurred by record levels of covid-19 tests and was \u201cboth volume- and price-driven,\u201d the company said.<\/p>\n<p><strong>The earnings are the first the consumer healthcare giant has released <\/strong>since listing on the EGX in the country\u2019s first-ever technical listing.<\/p>\n<p><strong>Looking ahead, volume growth will be helped by a \u201cmulti-pronged expansion strategy,\u201d <\/strong>which targets widening IDH\u2019s medical service offering, expanding its geographical reach, and strengthening its digital offering and delivery capabilities, IDH CEO Hend El Sherbini said. IDH\u2019s \u201cimmediate focus remains on continuing to play a frontline role in helping governments across our footprint combat the ongoing Covid-19 pandemic,\u201d she added. \u201cOur priorities for the remainder of 2021 and beyond remain unchanged as we focus on driving new growth and delivering further value to our patients.\u201d We had more on IDH\u2019s future plans in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26229540-e0c1-45e5-b5e8-0b808a179371\">yesterday\u2019s EnterprisePM<\/a>.<\/p>\n<p><strong>MARKET NEWS-<\/strong><\/p>\n<p><strong>Orascom Financial Holding (OFH) <\/strong><strong>has sold down part of its stake in<\/strong><strong> Beltone Financial in <\/strong><strong>an EGP 71.55 mn transaction.<\/strong> OFH\u2019s total holding of the investment bank is now 70.1%, down from 74%, according to <a href=\"https:\/\/ent.news\/2021\/6\/beltone-share-sale-2-june-21.pdf\">an EGX disclosure (pdf).<\/a> Beltone Securities executed the transaction, which saw 20 mn shares sold on the open market at a price of EGP 3.58 apiece.<\/p>\n<p><strong>Nile Cotton makes good with minority shareholders: <\/strong>Nile Cotton Ginning <a href=\"https:\/\/ent.news\/2021\/6\/Nile-Cotton-share-purchases-02-06-21.jpg\">has bought back<\/a> stock that was held by shareholders who claimed to have been negatively affected by a recent board decision to delist from the EGX. The vote to delist came after IMEX International took the state-owned company private when it completed its acquisition of a 93.9% stake <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b833b625-9bb8-44a1-841e-d536d4dbeb68\">last October<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nile-cotton-ginning\/\">Nile Cotton Ginning<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566200\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566201\" 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=\"566201\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/its-good-news-bad-news-from-the-oecd\/\">\r\n                            It\u2019s good news \/ bad news from the OECD                        <\/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\/06\/02\/its-good-news-bad-news-from-the-oecd\/\" 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\/06\/02\/its-good-news-bad-news-from-the-oecd\/')\">\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\/06\/02\/its-good-news-bad-news-from-the-oecd\/\">\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=It\u2019s good news \/ bad news from the OECD&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/its-good-news-bad-news-from-the-oecd\/\">\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\/06\/02\/its-good-news-bad-news-from-the-oecd\/&title=It\u2019s good news \/ bad news from the OECD\">\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=It%E2%80%99s+good+news+%2F+bad+news+from+the+OECD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F02%2Fits-good-news-bad-news-from-the-oecd%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\/06\/02\/its-good-news-bad-news-from-the-oecd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566201\" class=\"content-area-description single-story post-566201 post type-post status-publish format-standard hentry category-the-macro-picture tag-china tag-economy tag-enterprisepm tag-europe tag-imf tag-oecd tag-the-macro-picture tag-us tag-vaccines tag-world-health-organization 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-06\"><\/a> <strong>The OECD is out with its latest <\/strong><strong><a href=\"https:\/\/bit.ly\/3wSFxBd\">global economic outlook<\/a><\/strong><strong> \u2014 and there\u2019s good news and <\/strong><strong>bad news.<\/strong> The good news is that the world\u2019s most advanced economies look set to stage a stronger-than-anticipated recovery, returning to pre-covid levels by next year. The bad news? Most everyone else is going to struggle.<\/p>\n<p><strong>The good:<\/strong> The OECD\u2019s forecasts now see the global economy growing by 5.8% in 2021, a serious upgrade from the 4.2% it had predicted just six months ago in December. This could be followed by a 4.4% growth in 2022, which according to the OECD would return the global economy to pre-pandemic levels. The Paris-based organization cited the vaccination rollout in advanced economies and an enormous fiscal stimulus package in the US as being behind the rebound<\/p>\n<p><strong>There's particular cause to celebrate if you\u2019re American or Chinese:<\/strong> The twin booster of vaccines and stimulus will push the US economy to surge 6.9% this year, helping to return <a href=\"https:\/\/www.oecd.org\/economic-outlook\/\">per capita income<\/a> to pre-pandemic levels by 2H2021, a surprisingly swift recovery considering the historically unprecedented unemployment shock and Great Depression-esque food lines witnessed just a year ago. This will put the US economy on a path to return to its pre-covid size by late 2022. On the other side of the world, China has been experiencing a rapid recovery after clamping down early on the virus. The OECD expects its economy to grow 8.5% and 5.8% during 2021 and 2022 respectively.<\/p>\n<p><strong>Europe will take a bit longer to pick itself up:<\/strong> The OECD projects much of Europe will take nearly three years to recover, with output likely to rise by 4.3% in 2021 and 4.4% in 2022. But on a positive note, ramping up vaccination programs has allowed European governments to start lifting containment restrictions on activities in recent weeks, accelerating the bloc\u2019s \u201cslow\u201d recovery plan. The OECD also noted that risks posed by the high level of debt held by small and medium-sized companies, especially in European countries, could be mitigated by turning some pandemic-related financing into grants, with conditional repayments based on performance and regular assessments of viability.<\/p>\n<p><strong>The bad: <\/strong>The recovery will be \u201csignificant but uneven\u201d as it hinges on the pace of vaccination programs globally, the OECD said, with the main downside risk to its upbeat forecasts being a failure to deliver covid vaccines to emerging and poor countries. IMF chief Kristalina Georgieva also recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24bacbb1-a2aa-4e35-a07b-4fd0e84ec3ec\">raised concerns<\/a> that a \u201ctwo-track pandemic is causing a two-track economic recovery \u2014with negative consequences for all countries,\u201d with vaccine inequity resulting in the revival of rich countries and muted recovery of developing economies. India for example, which is currently suffering from a spike in cases, is expected to see a return to pre-pandemic growth levels at a slower pace, with output projected at 10% lower than the November 2019 projection.<\/p>\n<p><strong>Closing the vaccine equity gap offers a possible solution: <\/strong>The WHO and other organizations have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24bacbb1-a2aa-4e35-a07b-4fd0e84ec3ec\">urged countries<\/a> to take part in the International Monetary Fund's <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5898eefd-37d5-4b16-b431-c491cbe0f6bc\">USD 50 bn plan<\/a>, which aims to vaccinate at least 40% of the world's population by the end of 2021 and the remaining 60% by 1H2022. The World Health Organization has also recently reiterated the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d27889a-abb7-4208-aaa0-8e8164075632\">need to waive intellectual property rights<\/a> on covid vaccines, which would boost global supply and secure equitable access for poorer nations. While the US supports the waiver, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9f81525-2951-4795-bf4b-3257e17fc49a\">European countries, Canada and Switzerland<\/a> still oppose it.<\/p>\n<p><strong>And a<\/strong><strong> focus on health and education will help accelerate the bounceback: <\/strong>\u201cIt would be dangerous to believe that governments are already doing enough to propel growth to a higher and better path,\u201d OECD chief economist Laurence Boone told the <a href=\"https:\/\/www.ft.com\/content\/71beb926-2362-4085-a04e-5fa607e95aad\">Financial Times<\/a>. Stimulus programs led by many governments have helped maintain citizens\u2019 income levels, but the pandemic has highlighted the need to boost health and education systems, as well as digital and green transformation. Support should become more targeted and \u201cthe focus should be on investment,\u201d Boone said.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oecd\/\">OECD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566202\" 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=\"566202\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth Listening<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/plant-playlist-trend-takes-off-in-egypt-during-covid\/\">\r\n                            \u201cPlant playlist\u201d trend takes off in Egypt during covid                        <\/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\/06\/02\/plant-playlist-trend-takes-off-in-egypt-during-covid\/\" 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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Meanwhile, 16% of Egyptians reported talking to their houseplants more, according to a Spotify poll, with around a third of respondents saying that they felt caring for houseplants offers people more of a purpose in life. The audience data recorded 30% of Egyptians as saying they \u201cwill carry their passion for houseplants on into the future.\u201d<\/p>\n<p><strong>But can your cacti actually benefit from a daily musical interlude? <\/strong>The idea that plants respond to music was popularized with the publishing of a New York Times article in 1973, titled <a href=\"https:\/\/www.nytimes.com\/1973\/12\/30\/archives\/the-secret-life-of-plants-by-peter-tompkins-and-christopher-bird.html\">The Secret Life of Plants<\/a>, in which the authors argued that plants have a level of consciousness, citing scientific studies that suggested that music and human interaction can help plants grow. One of the earliest studies conducted on the topic was in 1962 at Annamalai University. The experiment exposed balsam plants to classical music and found that their growth rate increased by 20%, while their biomass increased 72% compared to a control group. The same experiment found that when crops were exposed to classical south Asian <a href=\"https:\/\/www.britannica.com\/art\/raga\">raga music<\/a>, they yielded 25% \u2013 60% more than the national average, according to <a href=\"https:\/\/bloomscape.com\/green-living\/does-music-affect-plant-growth\/\">Bloomscape<\/a>.<\/p>\n<p><strong>It\u2019s all about the vibrations that music gives off to plants<\/strong>, and science has shown that our green friends thrive when exposed to music between 115 Hz and 250 Hz, at which level the vibrations emulate similar sounds to nature. That\u2019s why some genres such as classical and jazz are more effective than others when it comes to growing plants, explained University of Melbourne's Dominique Hes, according to <a href=\"https:\/\/www.bhg.com.au\/indoor-plants-listen-to-music\">Better Homes and Gardens<\/a>.<\/p>\n<p><strong>Apparently, plants like music in moderation: <\/strong>A 1973 study by <a href=\"https:\/\/www.amazon.com\/Sound-Music-Plants-Dorothy-Retallack\/dp\/0875161707\">The Sound of Music and Plants<\/a> Author Dorothy Rallack found that the ideal time for plants to be exposed to music was for three hour intervals. In her experiment, plants exposed to an F note for eight hours at a time died within two weeks, while plants who had a time limit on their music listening were much healthier than their non-music-exposed counterparts. Several studies have since been carried out to explore the ideal combination of genres, instruments, and exposure for plants to increase crop yield, including <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S209531191360492X\">a study published in Science Direct<\/a> that also tested whether different plants required different combinations.<\/p>\n<p><strong>Even more mind-boggling; plants can also make music themselves: <\/strong>An upcoming device called <a href=\"https:\/\/www.plantwave.com\/\">PlantWave<\/a> translates plant biodata into music by attaching a pair of probes to plants\u2019 leaves. The device detects slight electrical variations in a plant which are then translated into pitch messages that play musical instruments. The signals are extremely sensitive and pitch or rhythm can be affected by light, movement, or air levels. The technology (which should be released this summer) inspired articles in <a href=\"https:\/\/www.wired.com\/story\/plantwave-music\/\">Wired<\/a>, <a href=\"https:\/\/www.popularmechanics.com\/science\/environment\/a33238349\/making-music-with-plants\/\">Popular Mechanics<\/a>, and <a href=\"https:\/\/www.npr.org\/2020\/02\/21\/807821340\/the-lessons-to-be-learned-from-forcing-plants-to-play-music\">NPR<\/a>. <strong>PlantWave also has a live online radio channel, <\/strong><strong><a href=\"https:\/\/plants.fm\/\">Plant FM<\/a><\/strong><strong> that streams music from plants in their Data Garden<\/strong>, mentioning which plant is currently conducting the music. We spent some time listening to a Snake Plant\u2019s composition, and impressed is an understatement.<\/p>\n<p><strong>Want to play some grooves for your own garden? <\/strong>Apparently they like Simon and Garfunkel, Coldplay, and The Shins, Spotify says. This may explain why our office plants withered after listening to Iron Maiden\u2019s greatest hits on loop for 12 hours<sup><\/sup>.<\/p>\n<p><strong>EDITOR\u2019S NOTE: <\/strong>This afternoon's edition of Enterprise is brought to you by Mastodon. Check it out on <a href=\"https:\/\/open.spotify.com\/playlist\/37i9dQZF1DWWXCUWY3oYC9\">Spotify<\/a> or <a href=\"https:\/\/music.apple.com\/us\/playlist\/mastodon-essentials\/pl.e6d467051672410a8ed9b4b47c5a5364\">Apple Music<\/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\/music\/\">music<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spotify\/\">Spotify<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-listening\/\">WORTH LISTENING<\/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=\"566204\" 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\/06\/02\/your-essential-business-calendar-on-2-june-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566204\" class=\"content-area-description single-story post-566204 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>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>7 June (Monday): British Egyptian Business Association hosts an event featuring Oil Minister Tarek El Molla.<\/p>\n<p>14 June (Monday): Egypt 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. The Big 5 Egypt Impact Awards will also be taking place at the event on 27 June.<\/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>2-4 August (Monday-Wednesday): Egypt is hosting the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/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\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":566190,"template":"","categories":[],"tags":[],"class_list":["post-566189","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0f64275e-3764-4260-9e62-56e8f4423a51","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/405.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>It\u2019s a bit slow, but all the news is good - 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\/its-a-bit-slow-but-all-the-news-is-good\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s a bit slow, but all the news is good\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-a-bit-slow-but-all-the-news-is-good\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:18:22+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/405.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\/its-a-bit-slow-but-all-the-news-is-good\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/its-a-bit-slow-but-all-the-news-is-good\/\",\"name\":\"It\u2019s a bit slow, but all the news is good - 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