{"id":566411,"date":"2021-06-17T13:48:18","date_gmt":"2021-06-17T13:48:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566411"},"modified":"2025-12-16T05:24:03","modified_gmt":"2025-12-16T05:24:03","slug":"enterprise-a-good-news-day-for-e-finance-and-infinity","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-a-good-news-day-for-e-finance-and-infinity\/","title":{"rendered":"Enterprise A good news day for E-Finance and Infinity"},"content":{"rendered":"<section id=\"566413\" 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=\"566413\">\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\/17\/tonight-ever-given-resolution-in-sight-global-shares-slide-after-fed-announcement-also-meditate-with-an-interactive-netflix-special\/\">\r\n                            TONIGHT: Ever Given resolution in sight? + Global shares slide after Fed announcement. ALSO: Meditate with an interactive Netflix special                        <\/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\/17\/tonight-ever-given-resolution-in-sight-global-shares-slide-after-fed-announcement-also-meditate-with-an-interactive-netflix-special\/\" 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\/17\/tonight-ever-given-resolution-in-sight-global-shares-slide-after-fed-announcement-also-meditate-with-an-interactive-netflix-special\/')\">\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\/17\/tonight-ever-given-resolution-in-sight-global-shares-slide-after-fed-announcement-also-meditate-with-an-interactive-netflix-special\/\">\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=TONIGHT: Ever Given resolution in sight? + Global shares slide after Fed announcement. 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ALSO: Meditate with an interactive Netflix special\">\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+Ever+Given+resolution+in+sight%3F+%2B+Global+shares+slide+after+Fed+announcement.+ALSO%3A+Meditate+with+an+interactive+Netflix+special+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F17%2Ftonight-ever-given-resolution-in-sight-global-shares-slide-after-fed-announcement-also-meditate-with-an-interactive-netflix-special%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\/17\/tonight-ever-given-resolution-in-sight-global-shares-slide-after-fed-announcement-also-meditate-with-an-interactive-netflix-special\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566413\" class=\"content-area-description single-story post-566413 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-enterprisepm tag-ever-given tag-malaysia tag-sameh-shoukry tag-suez-canal-authority tag-suez-canal-economic-zone tag-what-were-tracking-tonight tag-yehia-zaki wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Well, friends, we\u2019ve made it through another workweek together. <\/strong>We hope your weekend is full of plans to do \u2026 absolutely nothing. Or perhaps to decamp to Sahel.<\/p>\n<p><strong>In the meantime: It\u2019s another brisk afternoon of news whether your interests run to IPOs <\/strong><strong>or our green <\/strong><strong>energy future. <\/strong>We have news that state-owned<strong> E-Finance<\/strong> just took a big step toward its long-awaited IPO on the Egyptian Exchange, while our friends at <strong>Infinity<\/strong> have confirmed they\u2019re building out some 6k charging points at 3k charging stations nationwide over the next three years. To say we\u2019re looking forward to ditching our gas guzzler for an EV would be an understatement\u2026<\/p>\n<p><strong>THE BIG STORY TODAY, however, remains the central bank\u2019s rate decision<\/strong>, which is due later this afternoon. Bloomberg\u2019s poll out today agrees with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f456c5c-ed19-4468-bccf-817c0fa49938\">ours from Sunday<\/a>: Analysts see rates being left on hold (and maybe a little bit of good news around the corner). We have more in the news well, below.<\/p>\n<p><strong>HAPPENING NOW- The EGX has given 17 listed companies a 15-day extension of the <\/strong><strong>deadline to file their 1Q2021 earnings<\/strong>, which passed on 15 June after having been previously extended by the Financial Regulatory Authority <a href=\"https:\/\/ent.news\/2021\/6\/FRA-release-date.pdf\">from 15 May<\/a> (pdf), the exchange said in <a href=\"https:\/\/ent.news\/2021\/6\/Capture-3.jpg\">a bulletin<\/a>. The companies \u2014 which include Orascom Investment Holding, clothing manufacturer Dice, Qalaa Holding, and oilfield services provider Maridive, now have until the start of the third quarter of the year on 1 July to report their quarterly financials.<\/p>\n<p><strong>** CATCH UP QUICK <\/strong>on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>AfDB will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/debd71b4-aeaa-4929-bab6-a964f4464783\">give us another EUR 95 mn<\/a><\/strong><strong> to develop Egypt\u2019s power infrastructure <\/strong>and increase energy efficiency.<\/li>\n<li><strong>The US will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d3d48c1-8e68-45d2-978f-76d25247b662\">boost funding<\/a><\/strong><strong> to Egypt\u2019s solar energy projects<\/strong>, said US climate envoy John Kerry.<\/li>\n<li><strong>GASC is allowing wheat suppliers to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a2be632-69d6-429f-ac47-bfe86cd503a9\">submit bids<\/a><\/strong><strong> for shipping offers<\/strong> under a new amendment to the tender book for international wheat purchases.<\/li>\n<\/ul>\n<p><strong>The Ever Given\u2019s insurer UK P&I Club is hopeful about a positive resolution in the near <\/strong><strong>future <\/strong>on the Suez Canal Authority\u2019s (SCA) claims against the ship, <a href=\"https:\/\/www.ukpandi.com\/news-and-resources\/press-release-articles\/2021\/ever-given---media-statement\/\">according to a UK P&I Club statement<\/a>. The UK Club \u201cis currently engaged in serious and constructive negotiations with the SCA regarding the authority\u2019s claim arising from the grounding of the Ever Given,\u201d read the statement, without providing details on where things stand. Earlier this month, the UK Club had said it welcomed the SCA\u2019s announcement that it would reassess the damage claims.<\/p>\n<p><strong>Separately, limitation proceedings by the Ever Given\u2019s owner Shoei Kisen Kaisha had <\/strong><strong>begun in the High Court of London<\/strong>, the UK Club statement says. These would determine who is eligible for damage claims and payouts from a USD 115 mn limitation fund set up by Shoei Kisen. The insurer notes that these proceedings do not involve the SCA.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong> at the end of our workweek here in Cairo: <strong>It\u2019s a tale of two \u201clived <\/strong><strong>experiences.\u201d <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>In the global business press: Shares worldwide are slipping from record highs<\/strong> they hit earlier this week and the USD is on the rise after the US Federal Reserve signaled it will be tightening monetary policy ahead faster than expected. The Fed said yesterday that it thinks it will hike rates in 2023 rather than in 2024, setting up a third day of modest declines in the FTSE All-World index of developed and emerging market stocks. The story leads the front pages of the <a href=\"https:\/\/www.ft.com\/content\/227a5830-5ee6-4ba7-a021-59278e063df5\">Financial Times<\/a>, <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-06-17-2021-11623901869\">Wall Street Journal<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/06\/17\/5-things-to-know-before-the-stock-market-opens-thursday-june-17.html\">CNBC<\/a>.<\/p>\n<p><strong>Investors are girding for more volatility in the weeks and months to come<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/finance\/fed-taper-inches-closer-investors-prepare-volatility-ahead-2021-06-17\/\">Reuters<\/a> adds in an analysis piece.<\/p>\n<p><strong>In the mainstream press, it\u2019s all about Joe Biden\u2019s sitdown yesterday with Vladimir Putin. <\/strong>The <a href=\"https:\/\/www.washingtonpost.com\/national-security\/biden-putin-summit\/2021\/06\/16\/c2592718-ced4-11eb-9b7e-e06f6cfdece8_story.html\">Washington Post<\/a> writes that <strong>Biden\u2019s \u201cstrategy of pessimism\u201d<\/strong> has \u201ceked out progress with Putin,\u201d while the <a href=\"https:\/\/www.nytimes.com\/2021\/06\/17\/world\/europe\/biden-putin-summit.html?action=click&module=Top%20Stories&pgtype=Homepage\">New York Times<\/a> says the headway the US president has made is thanks to <strong>his \u201cstubborn optimism.\u201d <\/strong>One or the other, right? Got time for only one piece? Go check out the Economist\u2019s <a href=\"https:\/\/www.economist.com\/europe\/2021\/06\/16\/america-and-russia-return-to-traditional-great-power-diplomacy\">America and Russia return to traditional great-power diplomacy<\/a>.<\/p>\n<p><strong>OTHER STORIES that should be on your radar: <\/strong><\/p>\n<ul>\n<li><strong>Saudi Arabia may be looking to shake things up a bit in global equity markets.<\/strong> The kingdom is combining \u201ctwo state-run pension and unemployment insurance funds into an entity with almost USD 29 bn of local and foreign stocks\u201d under management, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-17\/saudi-arabia-to-form-entity-with-29-billion-in-equity-holdings?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> writes.<\/li>\n<li><strong>Summer hasn\u2019t even begun, and climate change is already battering Western <\/strong><strong>states<\/strong> in the US of A, writes the <a href=\"https:\/\/www.nytimes.com\/2021\/06\/17\/climate\/wildfires-drought-climate-change-west-coast.html?action=click&module=Spotlight&pgtype=Homepage\">New York Times<\/a>.<\/li>\n<li><strong>Tennis great Rafael Nadal has pulled out of Wimbledon and the Olympics<\/strong>, where he won a gold medal in singles back in 2008, citing a need to \u201clisten to his body\u201d as he looks to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-17\/rafael-nadal-pulls-out-of-wimbledon-and-tokyo-olympics?srnd=premium-middle-east&sref=mmeFTDW1\">extend his storied career<\/a>. <\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Malaysian Foreign Minister Dato' Seri Hishammuddin Tun Hussein is due in Egypt from <\/strong><strong>20-21 June<\/strong> in his first ever visit to Cairo, according to a <a href=\"https:\/\/twitter.com\/MalaysiaMFA\/status\/1405378420561772545?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\">press release<\/a>. The minister will call on President Abdel Fattah El Sisi before scheduled meetings with his Egyptian counterpart Sameh Shoukry and Suez Canal Economic Zone Chairman Yehia Zaki. Neither side has commented on the topics up for discussion.<\/p>\n<p><strong>Entrepreneurs in the tourism sector have until Sunday to apply for the six-month Tourism <\/strong><strong>Recovery Program<\/strong> launched by <a href=\"https:\/\/enpact.org\/#\/\">Enpact<\/a> and the <a href=\"https:\/\/www.tuicarefoundation.com\/en\">TUI Care Foundation<\/a> and supported by <a href=\"https:\/\/www.giz.de\/en\/html\/index.html\">GIZ<\/a>, according to a <a href=\"https:\/\/ent.news\/2021\/6\/070621_Egypt-Press-Release_ENG.pdf\">press release (pdf)<\/a>. Some 100 startups will be eligible for direct support to the tune of EUR 9k each. The program also aims to create an international network of tourism business to expand cooperation between Egypt, Germany, and other European countries. You can apply <a href=\"https:\/\/enpact.org\/open-applications\/tourism-recovery-programme\/#\/\">here<\/a>.<\/p>\n<p><strong>The British Egyptian Business Association (BEBA) is organizing a virtual education week <\/strong><strong>from 5-6 July<\/strong> with three seminars planned. The first, taking place at 10am on 5 July, will discuss <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_6h0ENWL5Rg61kAViRsbi7Q\">skills-based learning<\/a> while the <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_JL59Z3vIQ8Se-s8THnt3IQ\">future of investment in education<\/a> will be the topic on the table at 12:30pm the same day. On 6 July, a talk on the <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_EOlyoDeQQryADcYSJ3-_5Q\">digitalization of education in Egypt<\/a> will be held at 12pm.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>Chinese internet giant Baidu is aiming to create a robo taxi fleet in China<\/strong>, teaming up with BAIC Group to create the Apollo Moon electric cars and launch the taxi service, according to <a href=\"https:\/\/www.cnbc.com\/2021\/06\/17\/baidu-pushes-to-put-driverless-taxis-on-china-roads-with-baic-tie-up.html\">CNBC<\/a>. Some 1k vehicles will be manufactured by 2023 for around USD 74k each, less than half of the average price tag of autonomous cars. Baidu\u2019s foray into the transportation market is part of a recent trend of tech firms looking to diversify into automotives, such as the likes of <a href=\"https:\/\/techcrunch.com\/2021\/03\/30\/xiaomi-ev-subsidiary\/\">Xiaomi<\/a>, TikTok owner <a href=\"https:\/\/www.scmp.com\/tech\/tech-trends\/article\/3124199\/bytedance-said-make-foray-smart-cars-investment-self-driving-start\">ByteDance<\/a>, and even Apple who is setting out to launch the first <a href=\"https:\/\/appleinsider.com\/inside\/apple-car\">Apple Car by 2024<\/a>.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>Just what we needed after a tough workweek:<\/strong> Meditation app Headspace has released an interactive special on Netflix titled <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81328829\">Unwind Your Mind<\/a>. After being greeted by a smiling sun, watchers are given a series of questions to answer. What are your goals? Do you want to meditate? Are you feeling tense? Overwhelmed? Do you need help getting to sleep? How much time do you have? Based on your answers, you\u2019ll be redirected to a custom mindfulness exercise. The narrators Puddicombe or Evelyn Lewis Prieto may just help get you on the right path to relaxation with their soothing voices. The beauty in Unwind Your Mind is that you can go back to it time and time again and receive a completely different meditation experience.<\/p>\n<p>\u26bd<strong> Al Ahly has made it to the CAF Champions League semi-finals<\/strong>, playing against ES Tunis on Saturday at 6pm.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>This weekend\u2019s Euro 2020 matches: <\/strong>Today\u2019s matches kicked off with <strong>Ukraine<\/strong> and <strong>North <\/strong><strong>Macedonia<\/strong> in Group C, who are already at it as we dispatch. Things aren\u2019t looking bright for <strong>Denmark<\/strong>, which will face fierce <strong>Belgium<\/strong> at 6pm in Group B while still missing their star player, Christian Eriksen. Finally, the <strong>Netherlands<\/strong> and <strong>Austria<\/strong> are competing at 9pm in Group C, with both teams equally equipped to snag a win.<\/p>\n<p><strong>On Friday<\/strong>, <strong>Sweden<\/strong> and <strong>Slovakia<\/strong> will play at 3pm in Group E, <strong>Croatia<\/strong> and <strong>Czech Republic<\/strong> at 6pm in Group D, and <strong>England<\/strong> will take on <strong>Scotland<\/strong> at 9pm in Group D.<\/p>\n<p><strong>Finally, Saturday\u2019s matches <\/strong>will see <strong>Hungary<\/strong> go up against <strong>France<\/strong> at 3pm in Group F, <strong>Portugal<\/strong> kick off against <strong>Germany<\/strong> at 6pm in Group F, and <strong>Spain<\/strong> take on <strong>Poland<\/strong> at 9pm in Group E.<\/p>\n<p><strong>Last night\u2019s fixtures:<\/strong> First things first, <strong>Russia <\/strong>managed to beat <strong>Finland <\/strong>1-0 yesterday. In Group A matches, <strong>Wales <\/strong>downed <strong>Turkey <\/strong>2-0, but <strong>Italy <\/strong>was the star of the night, snagging a 3-0 victory against <strong>Switzerland<\/strong>.<\/p>\n<p><strong>Who\u2019s leading the groups so far? <\/strong><\/p>\n<ul>\n<li><strong>Group A: Italy<\/strong> has taken an early lead with six points to its name, followed by Wales with four.<\/li>\n<li><strong>Group B: It\u2019s a three-way tie<\/strong> between Russia, Finland, and Belgium, with each team snagging three points.<\/li>\n<li><strong>Group C: Austria and the Netherlands<\/strong> are tied with three points each.<\/li>\n<li><strong>Group D: The Czech Republic and England<\/strong> are head-to-head with three points each.<\/li>\n<li><strong>Group E: Slovakia<\/strong> is currently at the top with three points, being the only team to achieve a victory in the group since matches began.<\/li>\n<li><strong>Group F:<\/strong> It\u2019s a two-way tie in the group of death, with <strong>Portugal and France<\/strong> each boasting three points.<\/li>\n<\/ul>\n<p><strong>CR7 is the goat of health PSAs: <\/strong>In other Euro 2020 news, Cristiano Ronaldo\u2019s snub of Coca-Cola has cost the beverage company USD 4 bn as investors began to sell off shares after Ronaldo moved two Coca-Cola bottles out of frame during a press conference and pulled out a water bottle instead with a passionate cry of \u201cAgua!\u201d according to <a href=\"https:\/\/www.theguardian.com\/football\/2021\/jun\/16\/cristiano-ronaldo-snubs-coca-cola-billions-wiped-off-drink-giants-market-value\">The Guardian<\/a>. The Portugese footballer is a known health fanatic and he made his feelings toward the soft drink clear, scoffing as he pushed them away. Coca-Cola is one of the official sponsors of Euro 2020 and its market value fell from USD 242 bn to USD 238 bn after the presser. Liquid sugar isn\u2019t good for you, boys and girls.<\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Bao buns have made their way to Cairo: <\/strong>Heliopolis\u2019s <a href=\"https:\/\/www.instagram.com\/baogr.eg\/?hl=en\">Baogr<\/a> has finally introduced the Asian street staple to the Egyptian palate. While their menu might look like a cuisine having an identity crisis, each item is a new delicious experience in the making. Foodies generally agree that bao buns came out of China\u2019s Fujian province and are steamed to create a light, fluffy, and doughy pocket for whatever filling you decide on. You could order a classic bao (which resembles a baby taco) with shrimp, beef steak, duck, or the vegan option of mushrooms as well as a \u201cbaogr\u201d which is basically a burger but with the addition of the special buns. We recommend the shrimp blast classic bao or the chick lick baogr and don\u2019t forget to finish it off with a sweet bao with ice cream or banana and chocolate.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Art d'\u00c9gypte\u2019s art display by the sea, <\/strong><strong><a href=\"https:\/\/www.instagram.com\/p\/CQErovuHyuj\/?utm_medium=copy_link\">EX<\/a><\/strong><strong>, is kicking off tomorrow in Almaza Bay in North <\/strong><strong>Coast. <\/strong>The exhibit will run until 22 August and feature dozens of local artists.<\/p>\n<p><strong>You\u2019ve got today and tomorrow to catch the <\/strong><strong><a href=\"https:\/\/www.cdf.gov.eg\/tobool\/\">International Festival for Drums and<\/a><\/strong><strong><a href=\"https:\/\/www.cdf.gov.eg\/tobool\/\">Traditional Arts<\/a><\/strong><strong>.<\/strong> Check out the full schedule and locations for each show <a href=\"https:\/\/www.facebook.com\/hewar.foundation\/posts\/3999279700188182\">here<\/a>.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>If you feel a bit directionless in your career, this book is for you: <\/strong>Ashley Stahl\u2019s <a href=\"https:\/\/www.amazon.com\/You-Turn-Unstuck-Discover-Direction-ebook\/dp\/B088DCZCNF\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">You Turn<\/a> focuses on ditching the Monday (or Sunday) blues and ending the endless autopilot mode you might feel like you\u2019re in when you\u2019re in a job that doesn\u2019t challenge you. She changes up the definition of what a \u2018perfect job\u2019 looks like, arguing that it isn\u2019t just one you\u2019re passionate about, but also one that honors who you are. The career coach divulges a 11-step guide for people in the workforce to find self-discovery and success by looking at skills and interests while also mitigating your financial limitations. If you think it\u2019s time to pivot into a different field and you\u2019re not sure if you\u2019re making the right decision, You Turn will help provide some clarity.<\/p>\n<hr class=\"grey-line\">\n<p>? <strong>TOMORROW\u2019S WEATHER- <\/strong>The mercury will hit 37\u00b0C in Cairo tomorrow before reaching 38\u00b0C on Saturday and Sunday, our favorite weather app forecasts. Nighttime weather will be in the range of 20-22\u00b0C.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/malaysia\/\">Malaysia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span 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class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566415\" 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=\"566415\">\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: ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/interest-rate-day-amid-swings-in-commodities-prices\/\">\r\n                            Interest rate day amid swings in commodities prices                        <\/a>\r\n      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data-image-meta=\"[]\" data-image-title=\"526.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/526.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/526.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566415\" class=\"content-area-description single-story post-566415 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-economy tag-central-bank-of-egypt tag-commodities tag-economy tag-enterprise-poll tag-enterprisepm tag-food tag-inflation tag-monetary-policy tag-supply-chain 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>Some good news on the global commodities boom as the CBE decides interest rates:<\/strong> As the central bank\u2019s Monetary Policy Committee gets ready to announce its decision on interest rates later today, inflation in the time of a commodities boom continues to be the overarching theme in the domestic and foreign press. Keeping things interesting is news of fresh supplies of wheat hitting global markets and the possibility of oil prices finally tapering off from record highs.<\/p>\n<p><strong>More economists see no rate cut in Egypt as skyrocketing commodities hit home: <\/strong>All but a single economist out of 10 polled by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-17\/global-price-surge-to-hold-back-egypt-rate-cuts-decision-guide?sref=mmeFTDW1\">Bloomberg<\/a> are calling another hold on interest rates, as the commodities price boom hits everything from food to energy to key materials<sup><\/sup>. <strong>Our <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f456c5c-ed19-4468-bccf-817c0fa49938\">own interest rate poll<\/a><\/strong> was unanimous that the CBE will hold on moving interest rates.<\/p>\n<p><strong>Where do interest rates currently stand:<\/strong> The overnight deposit rate is at 8.25% and the lending rate 9.25%, while the main operation and discount rates are at 8.75%.<\/p>\n<p><strong>Concerns are particularly high when it comes to food as we\u2019re likely in the midst of an all-time high year for food prices<\/strong>, with droughts in South America tightening the supply of grains including corn and sugar, Bloomberg\u2019s Mirette Magdy notes. The shortfall, in turn, raises the cost of livestock breeding. T<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a19da710-1330-415c-8993-290f63133dcb\">he cost of staple imports is also set to rise 17% to USD 1.72 tn, primarily due to soaring grain, vegetable oils and oil seeds prices, the UN\u2019s Food and Agriculture Organization<\/a><a href=\"http:\/\/www.fao.org\/news\/story\/en\/item\/1410675\/icode\/\">said in a report last week<\/a>.<\/p>\n<p><strong>Egypt\u2019s domestic inflation hit its highest point all year in May,<\/strong> driven by the spike in food and beverage costs. The annual headline rate accelerated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a19da710-1330-415c-8993-290f63133dcb\">to 4.8% in May<\/a>, after having unexpectedly slowed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d82773c-16b8-4e19-956b-28cf55f425a6\">4.1% in April<\/a> and held steady at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91d91bf8-2519-46d6-a33e-b0495cc892c0\">4.5% in March<\/a> from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ad47058-a1df-4f79-a48e-1b39c17beb79\">February<\/a>.<\/p>\n<p><strong>Some good news on that front maybe? <\/strong>Farmers from the US to Russia are getting ready for a good Northern Hemisphere harvest amid spring rains in the Black Sea, the US plains, and the EU, fueling expectations for a looming surge in supply, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-16\/waves-of-wheat-start-to-temper-world-crop-supply-worries?sref=mmeFTDW1\">Bloomberg<\/a>. As the world\u2019s largest wheat importer, this certainly helps us.<\/p>\n<p><strong>MORE GOOD NEWS- Are oil prices finally tapering off? <\/strong>The US Federal Reserve\u2019s announcement this week that it could move to hike interest rates twice in 2023 <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-16\/oil-declines-below-72-a-barrel-following-the-fed-s-hawkish-tilt?srnd=premium-middle-east&sref=mmeFTDW1\">nudged crude prices lower<\/a> this morning as it propped up the USD and cooled down inflation expectations. A stronger USD and weaker inflation expectations usually dim investor appetite in crude oil, Saxo Bank\u2019s Ole Hansen told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-16\/oil-declines-below-72-a-barrel-following-the-fed-s-hawkish-tilt?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>.<\/p>\n<p><strong>Still, crude prices remain near record highs and the market is showing signs of strength as the pandemic abates<\/strong>, notes the business information service. Expensive freight rates, as oil has rallied strongly this year, have prompted state grain buyer GASC to amend the terms of international tenders to allow traders that aren\u2019t registered with the Egyptian Company for Maritime Transport to submit shipping offers, according to a document <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a2be632-69d6-429f-ac47-bfe86cd503a9\">seen by Reuters this week<\/a>.<\/p>\n<p><strong>Look for an announcement late this afternoon on <\/strong><strong><a href=\"https:\/\/www.cbe.org.eg\/en\/Pages\/default.aspx\">the CBE\u2019s homepage<\/a><\/strong><strong>.<\/strong><\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-poll\/\">Enterprise Poll<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/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=\"566417\" 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=\"566417\">\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: IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/one-step-closer-to-an-e-finance-ipo\/\">\r\n                            One step closer to an e-Finance IPO                        <\/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\/17\/one-step-closer-to-an-e-finance-ipo\/\" 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\/17\/one-step-closer-to-an-e-finance-ipo\/')\">\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\/17\/one-step-closer-to-an-e-finance-ipo\/\">\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=One step closer to an e-Finance IPO&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/one-step-closer-to-an-e-finance-ipo\/\">\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\/17\/one-step-closer-to-an-e-finance-ipo\/&title=One step closer to an e-Finance IPO\">\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=One+step+closer+to+an+e-Finance+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F17%2Fone-step-closer-to-an-e-finance-ipo%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\/17\/one-step-closer-to-an-e-finance-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566417\" class=\"content-area-description single-story post-566417 post type-post status-publish format-standard hentry category-speed-round-ipo-watch tag-africa tag-e-finance tag-enterprisepm tag-fintech tag-ipo-watch tag-privatization-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>E-Finance FV gets the regulatory sign off: <\/strong>State-owned e-payments firm e-Finance has gotten the approval of the Madbouly government's IPO committee for the fair value of its shares, e-Finance chairman and managing director of e-Finance Ibrahim Sarhan tells us, declining to specify what the fair value figure is. The move will help pave the way for the company\u2019s expected IPO this year, which would go a long way towards kickstarting the state privatization program.<\/p>\n<p><strong>So when will they IPO? <\/strong>Sarhan couldn\u2019t give us a date as of yet. Sarhan had told the local press <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dcf72de-83f0-4f8b-a789-7f634c29f006\">back in April<\/a> that the company would IPO sometime during 2H2021. If true, that raises hopes that e-Finance would be among the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d76af368-d2af-47da-a931-c394fcc6c8f1\">four IPOs<\/a> that EGX Chairman Mohamed Farid said would be taking place in the second half of the year.<\/p>\n<p><strong>E-Finance wants to use part of the proceeds to fund expansion in Africa<\/strong>, Sarhan confirmed to us. E-Finance partnered up with an unnamed international company on the expansion, and are currently studying how best to do that, Sarhan explained.<\/p>\n<p><strong>Advisors: Pharos <\/strong>and <strong>Renaissance Capital<\/strong> are managing e-Finance\u2019s offering on the Egyptian Exchange, while <strong>Zaki Hashem<\/strong> is counsel. <strong>BDO<\/strong> is the independent financial advisor for preparing the fair value report.<\/p>\n<p><strong><em>CORRECTED ON 17 June 2021<\/strong> \u2014\u00a0Sarhan had said back in April that the company will IPO in the second half of this year and not the second quarter as was initially noted.<\/em><\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization 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=\"566418\" 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=\"566418\">\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: INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/\">\r\n                            Infinity to lead EV infrastructure development as Egypt gears up to put electric vehicles on the road                        <\/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\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/\" 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\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/')\">\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\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/\">\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=Infinity to lead EV infrastructure development as Egypt gears up to put electric vehicles on the road&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/\">\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\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/&title=Infinity to lead EV infrastructure development as Egypt gears up to put electric vehicles on the road\">\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=Infinity+to+lead+EV+infrastructure+development+as+Egypt+gears+up+to+put+electric+vehicles+on+the+road+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F17%2Finfinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road%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\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/528.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566419\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road\/528-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/528.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"528.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/528.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/528.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566418\" class=\"content-area-description single-story post-566418 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-infrastructure tag-development tag-enterprisepm tag-infinity tag-infrastructure tag-sustainability 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>Renewables leader Infinity is set to work with the government on setting up 6k electric <\/strong><strong>vehicle charging points<\/strong>, across 3k charging stations nationwide over the next three years, Infinity said in a <a href=\"https:\/\/ent.news\/2021\/6\/Infinity-press-release-17-06.pdf\">press release (pdf)<\/a>. The first phase of the project, which is the largest infrastructure push for EVs to date, aims to deploy some 2k charging points in 1k stations in Greater Cairo, Alexandria, and parts of Qalyubia, Infinity told Enterprise in an emailed statement.<\/p>\n<p><strong>Infinity will build, operate, and maintain the chargers, and will also provide maintenance and technical support to El Nasr Automotive<\/strong> during the testing phase of newly-imported EVs by the state-owned company, Infinity said.<\/p>\n<p><strong>Charging at Infinity\u2019s docks will be provided at no cost until the Electricity Ministry finalizes a tariff structure,<\/strong> according to the release.<\/p>\n<p><strong>This comes as state-owned El Nasr Automotive is rolling out locally assembled models of <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90d6f7ac-fc42-4056-84d6-a14086b167f1\">China\u2019s E70 EV cars<\/a><\/strong>, and is due to begin testing 13 of those cars it imported from China\u2019s Dongfeng on Egypt\u2019s road at the beginning of July, as part of efforts to kickstart the EVs industry. Testing the vehicles, which will be handled primarily by Uber drivers, will last for three months and is the opening salvo for a larger plan by El Nasr to begin local assembly.<\/p>\n<p><strong>El Nasr plans to have the first batch of 100 cars, which will cost between EGP 290k-400k each, ready by July-August 2022,<\/strong> Public Enterprises Minister Hisham Tawfik told the airwaves last night. The El Nasr plant will eventually assemble 25k EVs a year and is expected to need some EGP 500 mn to get off the ground, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c2a5ea6-252b-4010-886d-85aa37ba1b5a\">Tawfik previously said<\/a>. The government previously said that, besides the three-year target to install <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fa3cac6-21f1-4d7c-bf73-f6fd8b49d842\">3k charging stations<\/a> (which will hold 6k charging points), it will also look to establish electric vehicle parking and charging stations in shopping center garages and the Tahrir and Ramsis garages.<\/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\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/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=\"566420\" 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=\"566420\">\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: DEVELOPMENT FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/\">\r\n                            More details on that EUR 1.7 bn French financing agreement signed earlier this week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/')\">\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\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/\">\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=More details on that EUR 1.7 bn French financing agreement signed earlier this week&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/\">\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\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/&title=More details on that EUR 1.7 bn French financing agreement signed earlier this week\">\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=More+details+on+that+EUR+1.7+bn+French+financing+agreement+signed+earlier+this+week+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F17%2Fmore-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week%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\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/529.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566421\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/529-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/529.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"529.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/529.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/529.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566420\" class=\"content-area-description single-story post-566420 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-development-finance tag-afd tag-bruno-le-maire tag-development-finance tag-enterprisepm tag-france tag-french-development-agency tag-infrastructure 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>We have a more detailed breakdown on some of the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da434836-d753-4823-810c-605fb1278bfe\">funding agreements<\/a><\/strong> <strong>to come out of <\/strong><strong>French finance minister Bruno Le Maire\u2019s visit to Cairo this week. <\/strong>The International Cooperation Ministry had signed EUR 1.7 bn in financing agreements with French agencies and entities this week, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/157618733075222\">a cabinet statement<\/a>. These include an EUR 990 mn financing agreement with the French Development Agency (AFD) and a separate EUR 776 mn agreement with the French treasury that will both support key infrastructure projects throughout the country over the next four years.<\/p>\n<p><strong>Transport projects are receiving the bulk of the funds: <\/strong>A total EUR 1.37 bn from the package is going to transport projects. EUR 776 mn will be allocated towards Tunnel Authority purchases of 55 new trains for Cairo Metro Line 1. The Mansoura-Damietta railway rehabilitation project will be seeing EUR 95 mn in funding under the new agreement. While upgrades to the Abu Qir Metro will be financed through a EUR 250 mn allotment. Construction of the Robaki-10th of Ramadan-Belbeis railway line, and the Aswan-Toshka-Wadi Halfa line is also expected to get another EUR 250 mn.<\/p>\n<p><strong>Sewage treatment is also on the list of priorities: <\/strong>An EUR 52 mn agreement to construct a sewage treatment plant in Helwan, an EUR 68 mn allocation for a sewage treatment facility in East Alexandria and a EUR 50 mn allotment for a facility in Jabal Al Asfar.<\/p>\n<p><strong>And so is energy: <\/strong>The Finance Ministry is also set to receive the second tranche of a facility to enable the upgrade of its energy subsidy policies worth EUR 75 mn. The Electricity Ministry is looking at a EUR 50 mn facility to construct a regional electrical control center in Alexandria.<\/p>\n<p><strong>Separately, our universal health system will be seeing EUR 150 mn<\/strong> in support under a different agreement signed this week, while a project to construct a French university in Egypt will get EUR 12 mn in funding.<\/p>\n<p><strong>But wait. What about the rest of the EUR 3.8 bn French Finance Minister Bruno Le Maire signed? <\/strong>Le Maire had signed a second EUR 2 bn agreement with Transport Minister Kamel El Wazir to provide credit facilities to fund the development of the Cairo Metro Line 6. <sup><\/sup><\/p>\n<p><strong>Check out our exclusive two-part interview with Bruno Le Maire <\/strong>about the new universal healthcare system, renewables, urban development and Egypt\u2019s post-pandemic role as a regional trade hub <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da434836-d753-4823-810c-605fb1278bfe\">here<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/548e9c5f-fc70-4553-8e5f-edc63e2721e3\">here<\/a><\/strong><strong>.<\/strong><\/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\/afd\/\">AFD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bruno-le-maire\/\">Bruno Le Maire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/french-development-agency\/\">French Development Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/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=\"566422\" 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=\"566422\">\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\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\">\r\n                            Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments                        <\/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\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\" 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\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/')\">\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\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\">\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=Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\">\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\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/&title=Sinai Cement widens losses + GSK\u2019s Egypt arm announces coupon payments\">\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=Sinai+Cement+widens+losses+%2B+GSK%E2%80%99s+Egypt+arm+announces+coupon+payments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F17%2Fsinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments%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\/17\/sinai-cement-widens-losses-gsks-egypt-arm-announces-coupon-payments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566422\" class=\"content-area-description single-story post-566422 post type-post status-publish format-standard hentry category-go-with-the-flow tag-construction tag-earnings-watch tag-enterprisepm tag-glaxosmithkline tag-go-with-the-flow tag-manufacturing tag-pharma tag-sinai-cement wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EARNINGS WATCH- Sinai Cement saw its net losses widen to EGP <\/strong><strong>148 <\/strong><strong>mn in 1Q2021, <\/strong>up from EGP 106 mn in 1Q2020, according to its <a href=\"https:\/\/ent.news\/2021\/6\/31-March-2021-Sinai-Cement-earnings.pdf\">quarterly financials (pdf)<\/a>. This came despite revenues rising 34% to over EGP 283 mn. Egypt\u2019s cement industry is suffering from a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39d31e43-71a2-42f2-b1b9-83f54471294c\">drawn-out supply glut<\/a> that continues to drive producers into the red.<\/p>\n<p><strong>MARKET NEWS- GlaxoSmithKline\u2019s local arm has announced <\/strong><strong>coupon payments<\/strong><sup><\/sup><strong> of EGP <\/strong><strong>0.50 per share<\/strong> for FY2020 returns, it said in a <a href=\"https:\/\/ent.news\/2021\/6\/GSK-shareholders-17-06-2021.pdf\">filing to the EGX (pdf)<\/a>. Payouts come due on Wednesday, 7 July.<\/p>\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.2% at today\u2019s close<\/strong> on turnover of EGP 1.40 bn (9.1% above the 90-day average). Foreign investors were net sellers. The index is down 9.0% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+6.0%), Cleopatra Hospital (+4.5%), and AMOC (+3.1).<\/p>\n<p><strong>In the red: <\/strong>GB Auto (-1.8%), Heliopolis Housing (-1.7%) and Pioneers Holding (-1.7%).<\/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\/construction\/\">construction<\/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\/glaxosmithkline\/\">GlaxoSmithKline<\/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\/manufacturing\/\">Manufacturing<\/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\/sinai-cement\/\">Sinai Cement<\/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=\"566423\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566424\" 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=\"566424\">\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\">CONSUMERISM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/ikea-has-cracked-the-code-on-what-we-value-most-in-our-possessions\/\">\r\n                            Ikea has cracked the code on what we value most in our possessions                        <\/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\/17\/ikea-has-cracked-the-code-on-what-we-value-most-in-our-possessions\/\" 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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Ikea\u2019s success was no accident, and the brilliance behind the brand lies in the tiny details that make up the entire Ikea shopping experience. But the important factor contributing to Ikea\u2019s success may not be the variety and affordability of its products, but rather, the fact that we\u2019re made to put them together ourselves, the <a href=\"https:\/\/www.bbc.com\/worklife\/article\/20190422-how-the-ikea-effect-subtly-influences-how-you-spend\">BBC<\/a> writes.<\/p>\n<p><strong>We\u2019re under the spell of \u201cthe Ikea effect\u201d: <\/strong>The term was coined in a <a href=\"https:\/\/www.hbs.edu\/ris\/Publication%20Files\/11-091.pdf\">2011 journal article<\/a> that posits that \u201clabor leads to love,\u201d which is exactly the subtle charm of Ikea products. The idea behind the Ikea effect is that people place higher value on things they helped to build or create. Add on that the brand\u2019s tendency to give each product a name, and consumers began to view their material possessions as a friend that they worked to build. The Ikea effect was soon used to explain all sorts of product marketing successes or failures, and has managed to prove that convenience isn\u2019t always everything.<\/p>\n<p><strong>But the idea predates Ikea: <\/strong>The notion that we value what we\u2019ve put some work into more than what is ready made was popularised after psychologist Ernest Dichter was <a href=\"https:\/\/www.newscientist.com\/article\/mg21228441-800-the-hard-way-our-odd-desire-to-do-it-ourselves\/\">hired by Betty Crocker in the 1950s<\/a> to improve the sales of their ready-made cake mixes. On Dichter\u2019s recommendation, the recipe was amended to require the addition of an egg (a form of labor), after which the cake mixes\u2019 popularity dramatically improved.<\/p>\n<p><strong>Ikea\u2019s DIY ethos was actually born of necessity: <\/strong>When Ingvar Kamprad founded Ikea in 1943 as a mail-by-order store, furniture was seen as a luxury many people couldn\u2019t afford. Kamprad came up with the ingenious idea of deconstructing furniture pieces and flatpacking them to reduce shipping and storage costs, according to the Wall Street Journal (<a href=\"https:\/\/www.youtube.com\/watch?v=tkfq__rdoD0\">watch, runtime: 05:50<\/a>). The one drawback that ended up being one of Ikea\u2019s biggest appeals: customers would have to assemble the pieces themselves, albeit with manuals and tools provided. Though the average consumer was not used to being put to work, the idea caught on, and people began to enjoy the process of putting together something that they could show off in their home.<\/p>\n<p><strong>The psychological explanation behind the Ikea effect: <\/strong>Humans have a need to feel competent, and even assembling a nightstand can boost our sense of self-efficacy, according to <a href=\"https:\/\/thedecisionlab.com\/biases\/ikea-effect\/\">The Decision Lab<\/a>. Another driver for the Ikea effect is a specific type of cognitive dissonance, known as effort justification. Effort justification describes how people like to see a goal reached after they did something they found difficult or taxing. When finished, that nightstand represents the physical fruits of our labor that we mentally associate with our sense of accomplishment. And while this isn\u2019t always the case, it can often be quite fun to assemble a piece of furniture, adding another layer of happy memories to the aforementioned nightstand.<\/p>\n<p><strong>Making end-consumers do more work, and end up happier for it, is probably every marketer\u2019s dream: <\/strong>The concept is reflected in the popularity of everything from <a href=\"https:\/\/www.bbc.com\/news\/business-36057783\">DIY meal kits<\/a> to the enduring popularity of Lego.<\/p>\n<p><strong>But there\u2019s a limit to how far the effect can go:<\/strong> Failing to properly build the furniture items or to complete the set task can lead to frustration, and perhaps more alienation from the brand.<\/p>\n<p>In the 2011 paper that popularized the Ikea Effect term, the authors observed \u2014 in an experiment designed to test the effect \u2014 that participants who spent too much time completing their task (in this case, making an origami paper crane) valued it less, and were less willing to pay for it in a mock auction. Designing items that present just the right amount of challenge that can be overcome may be the key to making us love them forever.<\/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\/consumerism\/\">CONSUMERISM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economics\/\">economics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ikea\/\">IKEA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/psychology\/\">psychology<\/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=\"566426\" 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\/17\/your-essential-business-calendar-on-17-june-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566426\" class=\"content-area-description single-story post-566426 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>14-17 June (Monday-Thursday): The EFG Hermes and Saudi Exchange Virtual Investor Conference.<\/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>20 June (Sunday): Deadline for Enpact + Tui + GIZ <a href=\"https:\/\/ent.news\/2021\/6\/070621_Egypt-Press-Release_ENG.pdf\">tourism recovery program (pdf)<\/a>.<\/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: The Cairo International Book Fair, Egypt International Exhibition Center.<\/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":566412,"template":"","categories":[],"tags":[],"class_list":["post-566411","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c8508197-c806-4e10-aeb2-5188ca342f3b","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/525.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Enterprise A good news day for E-Finance and Infinity - 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-a-good-news-day-for-e-finance-and-infinity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise A good news day for E-Finance and Infinity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-a-good-news-day-for-e-finance-and-infinity\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:24:03+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\/525.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-a-good-news-day-for-e-finance-and-infinity\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-a-good-news-day-for-e-finance-and-infinity\/\",\"name\":\"Enterprise A good news day for E-Finance and Infinity - 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