{"id":566704,"date":"2021-07-08T13:24:03","date_gmt":"2021-07-08T13:24:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566704"},"modified":"2025-12-16T05:31:22","modified_gmt":"2025-12-16T05:31:22","slug":"enterprise-inflation-is-up-in-june-but-it-was-not-as-bad-as-everyone-was-expecting","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-inflation-is-up-in-june-but-it-was-not-as-bad-as-everyone-was-expecting\/","title":{"rendered":"Enterprise Inflation is up in June, but it was not as bad as everyone was expecting."},"content":{"rendered":"<section id=\"566706\" 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=\"566706\">\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\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/\">\r\n                            TONIGHT: Annual inflation up less than expected in June. + Egypt gears up for UN Security Council meeting. ALSO: ECB isn\u2019t too worried about inflation.                        <\/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\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/\" 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\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/')\">\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\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/\">\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: Annual inflation up less than expected in June. + Egypt gears up for UN Security Council meeting. ALSO: ECB isn\u2019t too worried about inflation.&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/\">\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\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/&title=TONIGHT: Annual inflation up less than expected in June. + Egypt gears up for UN Security Council meeting. ALSO: ECB isn\u2019t too worried about inflation.\">\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+Annual+inflation+up+less+than+expected+in+June.+%2B+Egypt+gears+up+for+UN+Security+Council+meeting.+ALSO%3A+ECB+isn%E2%80%99t+too+worried+about+inflation.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F08%2Ftonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation%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\/07\/08\/tonight-annual-inflation-up-less-than-expected-in-june-egypt-gears-up-for-un-security-council-meeting-also-ecb-isnt-too-worried-about-inflation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566706\" class=\"content-area-description single-story post-566706 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-abdel-fattah-el-sisi tag-alphabet tag-dr-congo tag-enterprisepm tag-ethiopia tag-felix-tshisekedi tag-gerd tag-google-play-app-store tag-mariam-al-mahdi tag-sameh-shoukry tag-sudan tag-un tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There\u2019s technically six working days until wa\u2019fa,<\/strong> which is expected to land on Monday, 19 July. We, like many, are marking the days like Robert De Niro in <a href=\"https:\/\/www.youtube.com\/watch?v=H4jLRIU9THE\">Cape Fear<\/a>.<\/p>\n<p><strong>THE BIG STORY TODAY-<\/strong> <strong>Have we been shielded from the worst of the commodities boom?<\/strong> Annual headline inflation inched up marginally last month, defying everyone\u2019s expectations of a steady upward trend for the rest of the year on the back of the global commodities boom and mounting cost pressures on businesses. The slower-than-expected reading came as monthly food prices were little changed from May.<\/p>\n<p><strong>A rate hold coming:<\/strong> Consequently, analysts we\u2019ve spoken with today are expecting the central bank to keep interest rates on hold when it meets early next month. We have chapter and verse in the Speed Round, below.<\/p>\n<p><strong>Meanwhile, <\/strong><strong>the European Central Bank<\/strong><strong> is taking less of a hardline on inflation, <\/strong>announcing in a <a href=\"https:\/\/www.ecb.europa.eu\/home\/search\/review\/html\/ecb.strategyreview_monpol_strategy_statement.en.html\">landmark policy review<\/a> today that it will let the headline rate exceed its target of close to 2% whenever necessary, tolerating temporary price growth. <a href=\"https:\/\/www.cnbc.com\/2021\/07\/08\/ecb-lagarde-presents-first-policy-review-in-almost-two-decades.html\">This suggests that<\/a> the ECB is following in the Fed\u2019s footsteps and is less likely to raise rates soon. The new strategy will first be put to the test when the Governing Council holds its interest-setting meeting on 22 July.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>HAPPENING NOW- The GERD showdown should be happening today:<\/strong> Egypt, Sudan, and Ethiopia are in New York for today\u2019s UN Security Council meeting on the Grand Ethiopian Renaissance Dam (GERD) dispute.<\/p>\n<p><strong>Egypt and Sudan\u2019s foreign ministers have been coming up with a gameplan (with a little help from our Tunisian friends): <\/strong>Egyptian Foreign Minister Sameh Shoukry and his Sudanese counterpart Mariam Al Mahdi sat down yesterday to prepare for today\u2019s meeting \u2014 the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/719598fd-7d43-4ae7-90f0-2879fcd55ebf\">second time<\/a> this week \u2014 ahead of the long-awaited GERD talks, the ministry spokesman said on <a href=\"https:\/\/twitter.com\/mfaegypt\/status\/1412911904557834246?s=21&fbclid=IwAR28r7X0DhXe44MumFejI8JEfGZ2RhudaMt0oTjidkMEct6CutMg7-CLQp8\">Twitter<\/a>. The two countries will back <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c28be1bd-111f-4e31-9b51-ba99b8e5e705\">Tunisia\u2019s draft resolution<\/a> to the council, which Shoukry describes as \u201cbalanced\u201d, he told the <a href=\"https:\/\/apnews.com\/article\/united-nations-ethiopia-africa-middle-east-egypt-b611c67d790990ae33bf519d3c322a10\">Associated Press<\/a>. The push at the security council came after Ethiopia announcing that it has unilaterally begun the second filling of the dam.<\/p>\n<p><strong>Meanwhile, we\u2019re still drumming up last minute support:<\/strong> President Abdel Fattah El Sisi had a call with DR Congo President Felix Tshisekedi to discuss the latest developments in the dam dispute, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/351424523012949\">Ittihadiya statement<\/a>. Tshisekedi supported a trilateral resolution between the three sides and said that the Security Council meetings would act as a pathway for peaceful negotiations for other African disagreements.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>The EGX is putting <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/782b5bbe-a256-4830-b7dc-0e053eda6003\">closing auctions<\/a><\/strong><strong> to the test today<\/strong>, a new system to calculate closing share prices that is hoped to improve accuracy, increase trading volumes and boost foreign investment in local stocks.<\/li>\n<li><strong>Made-in-Egypt Sinovac vaccines <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44d40172-0d42-45f9-8bc4-c46cd23f2c76\">could be available<\/a><\/strong><strong> in clinics in two weeks<\/strong>, earlier than the previously announced August date.<\/li>\n<li><strong>A contractor will be assigned to collect waste from around Cairo<\/strong> until the procedures <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3964e46-0983-4612-a96f-8427f21752ac\">are completed<\/a> for launching an official public tender.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>THE BIG STORY ABROAD- <\/strong><strong>Operations have resumed at Jebel Ali Port after an explosion<\/strong><strong> lit up the sky over Dubai at midnight<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-07\/explosion-at-ship-docked-at-jabal-ali-port-in-dubai-arabiya?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg writes<\/a>. No casualties were reported at the blast, which happened on a small 130-container ship in Terminal 1. Sabotage is also out of the question at this point, as the blast may have been caused by friction or high temperature, according to a person familiar with the matter, cited by Bloomberg.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The EGX will <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/7\/EGX-board-elections.jpg\">hold its board elections for the 2021-2025 term<\/a><\/strong><strong> on Wednesday, 14 July.<\/strong> <a href=\"https:\/\/ent.news\/2021\/7\/EGX-board-elections-2021.jpg\">Here\u2019s a rundown<\/a> of the candidates vying to fill board positions.<\/p>\n<p><strong>The Cairo International Book Fair is currently ongoing at Egypt International Exhibition Center today.<\/strong> The event will run through to 15 July and the fair\u2019s committee has <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2373698\">now allowed<\/a> the exhibition ground to operate at 70% capacity.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> UAE wants to pollute the world even more so it can quit oil ?: <\/strong>The UAE is looking to sell as much crude as it can before demand drops, in order to wean its economy off oil, the <a href=\"https:\/\/www.wsj.com\/articles\/behind-opec-deadlock-one-petro-state-looks-to-non-oil-future-11625659872?mod=hp_lead_pos7\">Wall Street Journal reports<\/a>. The aim is to generate revenue for the diversification of the economy, including new energy and revenue streams, the WSJ cites a person close to the matter as saying. It\u2019s a matter of market share at this point. To support those plans, Abu Dhabi is seeking investors to build hydrogen-export facilities and long-term supply contracts, <a href=\"https:\/\/www.wsj.com\/articles\/behind-opec-deadlock-one-petro-state-looks-to-non-oil-future-11625659872?mod=hp_lead_pos7\">according to Bloomberg<\/a>.<\/p>\n<p><strong>This comes after the UAE <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c61744e-0421-4786-9794-4f8c9b67bed4\">rejected a proposed OPEC agreement<\/a><\/strong><strong> on oil production earlier this week<\/strong>, arguing that its production quotas were unfair and rallying up prices to a three-year high. OPEC members did not set a date for their next meeting. The UAE may be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/baaf129c-fe35-42fa-b42a-d2183ca1c3e1\">following the lead of Saudi Arabia<\/a>, which is looking to lead a future market for blue hydrogen.<\/p>\n<p><strong>Google is getting slapped with yet another lawsuit:<\/strong> This time, three dozen US states are alleging that the Alphabet-owned firm has an illegal monopoly with its Google Play app store, according to the <a href=\"https:\/\/www.wsj.com\/articles\/states-target-google-play-store-in-antitrust-suit-11625694096?mod=hp_lead_pos1\">Wall Street Journal<\/a>. The lawsuit points to Google\u2019s collection of a 15-30% service fee on sales through its Play Store, while also accusing the Big Tech firm of trying to \u201cbuy off\u201d Samsung and convince the competitor to let go of its Galaxy app store. Google has since responded <a href=\"https:\/\/blog.google\/outreach-initiatives\/public-policy\/lawsuit-ignores-choice-android-and-google-play\/\">in a blog post<\/a>, saying it competes fairly and aims to support and aid developers.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>One for the Egyptian NBA fans (we know you exist):<\/strong> HBO Sports\u2019 documentary <a href=\"https:\/\/www.hbo.com\/documentaries\/the-day-sports-stood-still\">The Day<\/a><a href=\"https:\/\/www.hbo.com\/documentaries\/the-day-sports-stood-still\">Sports Stood Still<\/a> is now available to us through <a href=\"https:\/\/stream.osn.com\/series\/SR7256\">OSN Streaming<\/a>, providing a deep look into the world of sports during a year full of racial reckoning and the pandemic. The documentary covers the surreal and sudden shutdown of sports in early 2020 and the complex return to competition in the summer and fall through initiatives like the \u201cbubble\u201d system. A broad swath of voices is brought to the spotlight to explore how covid-19 pressed pause on their lives, but still managed to push them to bring race issues front and center in the sports field. The trailer is sure to get you excited (<a href=\"https:\/\/www.youtube.com\/watch?v=1bFrLrd5epE\">watch, runtime: 01:38<\/a>).<\/p>\n<p><strong>WE CAN\u2019T WAIT FOR- Season three of Succession <\/strong>which is due to be out this Fall on HBO Max. The series follows a family that owns a media empire as they battle for leadership after their father steps down. We\u2019re not sure if the episodes will be released all at once or once a week, but you should definitely check out the trailer and catch up on the first two seasons until then (<a href=\"https:\/\/www.youtube.com\/watch?v=ziBOCIgCaOk\">watch, runtime: 01:23<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> \u26bd <strong>England versus Italy, here we go. <\/strong>England is going to the Euro 2020 finals after beating Denmark 2-1 last night during extra time. The England versus Italy match is expected to be a doozy and will take place on Sunday at 11pm. This is the first major international final for England\u2019s national men\u2019s team since 1966.<\/p>\n<p><strong>Al Ahly is playing today: <\/strong>The Egyptian Premier league will see El Entag El Harby play against Pyramids at 7pm, while Al Ahly is going up against Al Mokawloon at 9pm.<\/p>\n<p><strong>Also, if you are so inclined (some of us are) UFC 264 will kick off late night Saturday,<\/strong> with the preliminary fights starting at 12am CLT Sunday morning. The main draw of the event: McGregor vs Poirier 3, which isn\u2019t due to start until 4am CLT Sunday. You can sign up for the pay-per-view event at <a href=\"https:\/\/www.ufcarabia.com\/\">UFC Arabia<\/a>.<\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong>What\u2019s a Sahel beach party without a good cookout: <\/strong><strong><a href=\"https:\/\/www.instagram.com\/bbqbrosegy\/\">BBQ Bros<\/a><\/strong>, the formidable barbeque joint is opening up all over Sahel with their signature grill setups that are sure to draw you in from a mile away. From burgers to steaks to imposingly large kabobs, the meat lovers among you will discover your eden. However, they also offer a range of delicious appetizers and platters such as honey glazed salmon, creamy chicken breast, and fried chicken gravy. You can find BBQ Bros in Marassi, Diplo, and Seashell in Sahel as well as in El Gouna and Cairo (at Zed Park).<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Rock N' Roll cover band <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/111491887741274\/?active_tab=about\">Retrograde<\/a><\/strong><strong> are playing at Garden City\u2019s The Room <\/strong>tonight at 9pm.<\/p>\n<p><strong>Try out kayaking<\/strong> with Egyptian Rowing Club\u2019s <a href=\"https:\/\/www.facebook.com\/events\/600675437598751\/?active_tab=about\">weekly kayak ride<\/a> that is suitable for all levels of experience. The rides will take place on Friday at 9am and Saturday at 10am.<\/p>\n<p><strong>A talk titled <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/136793531871982\/?active_tab=about\">\u2018The sustainability of analogue photography<\/a><\/strong><strong>\u2019<\/strong> will be given by photographer Mafric tomorrow at Dawar Arts at 1pm.<\/p>\n<p><strong>Catch <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/320775196192891\/?active_tab=about\">Dina El Wedidi<\/a><\/strong><strong> back from her hiatus <\/strong>at Cairo Jazz Club in Agouza on Saturday at 9pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>We all need a jumpstart in networking: <\/strong>With so many ways to connect with people, often business relationships can feel transactional and dehumanizing\u2026 a means to an end. T<a href=\"https:\/\/www.amazon.com\/Lost-Art-Connecting-Meaningful-Relationships\/dp\/1260469883\">he Lost Art of Connecting<\/a> by Susan McPherson and Jackie Ashton focuses on creating a guide to ensure that your networking efforts bring more knowledge and insight, and possibly even friendships. The book poses the \u2018Gather, Ask, Do Method\u2019 which urges that you shouldn\u2019t wait for the perfect chance to network, but be more open to sudden circumstances and new things where you can ask a lot of questions. The most important part is the \u2018Do\u2019 which advises you to follow through on the promises you made and keep in touch.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Cairo temperatures will inch down to 39\u00b0C over the weekend, which is why we urge you to visit the 31\u00b0C amazingness that is Sahel, thanks to forecasts from our favorite weather app.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alphabet\/\">Alphabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dr-congo\/\">DR Congo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/felix-tshisekedi\/\">Felix Tshisekedi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google-play-app-store\/\">Google Play App Store<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mariam-al-mahdi\/\">Mariam Al Mahdi<\/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\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566707\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/monthly-prices-in-urban-egypt-hold-steady-keeping-inflation-in-check\/\">\r\n                            Monthly prices in urban Egypt hold steady, keeping inflation in check                        <\/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\/07\/08\/monthly-prices-in-urban-egypt-hold-steady-keeping-inflation-in-check\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566709\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/monthly-prices-in-urban-egypt-hold-steady-keeping-inflation-in-check\/362-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/362.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"362.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/362.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/362.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566708\" class=\"content-area-description single-story post-566708 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-economy tag-economy tag-enterprisepm tag-inflation tag-monetary-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Annual urban inflation inched up slightly in June, at a pace slower than everyone had <\/strong><strong>expected, <\/strong>thanks to a favorable base effect and a slowdown in the growth of monthly food prices. Figures released today by state statistics bureau Capmas showed the headline rate accelerated to 4.9% at the end of the month, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a19da710-1330-415c-8993-290f63133dcb\">4.8% in May<\/a>. Despite being the highest headline reading so far into the year, the urban figures were still more muted than analysts and policymakers had penciled in.<\/p>\n<p><strong>T<\/strong><strong>he overall rate in <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/7\/2021788458_CAPMAS-06-2021.pdf\">both urban and rural areas (pdf)<\/a><\/strong><strong>, however,<\/strong><strong> rose more sharply<\/strong> to 5.3% in June from 4.9% a month earlier.<\/p>\n<p><strong>Inflation continued to cool down on a monthly basis:<\/strong> Urban prices rose only 0.2% during June, compared to 0.7% the previous month.<\/p>\n<p><strong>Food prices were kind to us this time around: <\/strong>A sub-gauge measuring food items only edged up 0.2% over May, despite registering a 3.4% uptick over last year. This was much lower than the 1.5% m-o-m growth in urban food prices between April and May.<\/p>\n<p><strong>Other goods and services including education, health, and utilities<\/strong> also rose nationwide on an annual basis but remained largely unchanged from May.<\/p>\n<p><strong>Were the figures in line with expectations? Not at the slightest. <\/strong>\u201cThe annual rate comes below our estimate of 5.5% as we had expected a higher monthly change of 0.7%, maintaining last month\u2019s momentum,\u201d Beltone\u2019s director of macro and strategy Alia Mamdouh said. Pharos Holding\u2019s head of research Radwa Elswaify and Naeem Brokerage\u2019s Allen Sandeep echoed Mamdouh, noting that they had expected a higher annual reading and that monthly prices bucked the trend of spiraling global commodity prices.<\/p>\n<p><strong>Analysts and policymakers alike had expected the increase to be more significant, <\/strong>citing unfavorable near-term base effects and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fb13174-3377-49ef-8300-480e0abee206\">the global commodities<\/a> boom that began late last year and hit everything from food to energy to key metals.<\/p>\n<p><strong>But the signs are still pointing to more inflationary pressures in coming months: <\/strong>Inflation is seen picking up this month and in August, after the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8524ce4-c8d0-4b1d-b450-a125c9879398\">new round of electricity price hikes<\/a> took effect at the start of the state\u2019s fiscal year last week, says Sandeep. \u201cWe expect that the headline rate will rise further over the coming months largely on the back of stronger food and energy inflation,\u201d Capital Economics, meanwhile, said in a research note, adding that higher global commodity prices and freight charges, as well as supply shortages, will also weigh in on the headline reading.<\/p>\n<p><strong>Not so fast, says Elswaify: <\/strong>Elswaify, however, suggested that any increase we see down the road will be better explained by base year effects and not the macro pressures noted. Even then, we will still be less than the 5.5% some analysts had earlier expected.<\/p>\n<p><strong>Inflationary pressures have been largely muted since the start of 2021,<\/strong> shrugging off the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fb13174-3377-49ef-8300-480e0abee206\">global commodities boom<\/a>, which took a while to filter through here at home. The cycle began to catch up in May, leading to a spike in food prices and a 70 basis points increase in the annual rate. Before that, inflation unexpectedly slowed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d82773c-16b8-4e19-956b-28cf55f425a6\">4.1% in April<\/a>, after having 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> and even dropped in January <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2132ef4-bbe3-4fbf-adbe-0033fb050730\">to its lowest level since September 2020<\/a>.<\/p>\n<p><strong>How will this factor into the upcoming CBE decision? <\/strong>Analysts still unilaterally agree that the CBE\u2019s Monetary Policy Committee (MPC) will keep rates unchanged at its upcoming meeting in August. While there\u2019s room for a rate cut on the back of slower-than-expected inflation, the MPC will opt for a hold to protect inflows into sovereign debt and as there\u2019s \u201cpolitical anticipation of developments in the GERD dispute,\u201d Elswaify says. Alia Mamdouh, Prime Holdings\u2019 Mona Bedier and Capital Economics are also penciling in a hold on rates at the coming meeting. The latest inflation reading remains below the CBE\u2019s inflation target of 7% (\u00b12 ) on average by 4Q2022.<\/p>\n<p><strong>The MPC is due to meet on 5 August.<\/strong> Policymakers left rates on hold for the fifth consecutive time <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c5d1ef9-6305-4119-a57e-4a6f45c6f2d5\">last month<\/a>, as they looked to preempt a possible rise in inflation on the back of the commodities cycle. The central bank slashed rates by 400 bps last year, including an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2e78eb3-6978-4eb5-a04f-a3b7247293ed\">emergency 300-bps cut in March<\/a> to protect the economy from the fallout from covid-19, as well as two 50-bps cuts in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/383b8b99-dd6d-46df-b2dd-f2c241ea039f\">September<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5662d281-1e6f-4604-b559-ae1ac16ce3be\">November<\/a>.<\/p>\n<p><strong>IN OTHER MACRO NEWS-<\/strong><\/p>\n<p><strong>Remittances from Egyptian abroad rose to USD 2.5 bn in April, <\/strong>up 34% y-o-y from USD 1.8 bn April 2020, the CBE said in a <a href=\"https:\/\/ent.news\/2021\/7\/Expats-remit-2021.pdf\">press release (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/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=\"566710\" 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=\"566710\">\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: GREEN ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/one-plus-one-makes-two\/\">\r\n                            One plus one makes two                        <\/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\/07\/08\/one-plus-one-makes-two\/\" 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\/07\/08\/one-plus-one-makes-two\/')\">\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\/07\/08\/one-plus-one-makes-two\/\">\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 plus one makes two&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/one-plus-one-makes-two\/\">\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\/07\/08\/one-plus-one-makes-two\/&title=One plus one makes two\">\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+plus+one+makes+two+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F08%2Fone-plus-one-makes-two%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\/07\/08\/one-plus-one-makes-two\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/364.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566711\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/one-plus-one-makes-two\/364-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/364.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"364.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/364.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/364.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566710\" class=\"content-area-description single-story post-566710 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-green-economy tag-energy tag-eni tag-enterprisepm tag-green-economy tag-green-hydrogen 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-02\"><\/a> <strong>Eni is on board with the government\u2019s clean hydrogen plans: <\/strong>Italy\u2019s Eni will work on feasibility studies to produce green and blue hydrogen under an MoU signed with state-owned Egyptian Natural Gas Holding Company (EGAS). Eni will help authorities explore projects to produce green hydrogen from renewable energy, as well as open itself up to partnerships with the government on either green hydrogen production or other projects to produce blue hydrogen using carbon dioxide stored at mature natural gas fields it operates in Egypt, according to a government <a href=\"https:\/\/ent.news\/2021\/7\/Eni-hydrogen-contract.pdf\">press release (pdf)<\/a>. Eni will also conduct market research to estimate how much of the produced hydrogen will be needed domestically, and how much can be shipped abroad.<\/p>\n<p><strong>Eni joins Siemens as the second global energy player to sit down with government officials<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a852c99-ab78-4c24-8597-145fae51ea0b\">in recent months<\/a> as authorities work toward a pilot project to produce green hydrogen in Egypt as an alternative source to power industry and eventually be exported abroad. The government is expecting to integrate green hydrogen, which is produced without burning fossil fuels, into its 2035 energy strategy.<\/p>\n<p><strong>How big are those plans? <\/strong>Electricity Minister Mohamed Shaker <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe7a15bc-d122-4bdd-9aab-2af8f4f37393\">said last month<\/a> that we\u2019ll be seeing major announcements soon, and that the early stages of green hydrogen production could cost some USD 3-4 bn at its early stages. Studies for one of several planned green hydrogen plants is expected to be finalized and presented to the Sovereign Fund of Egypt, which was said to be taking in promoting green hydrogen to the private sector.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/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=\"566712\" 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=\"566712\">\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: STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/\">\r\n                            Eight Egyptian startups raise USD 52 mn in June                        <\/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\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/\" 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\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/')\">\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\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/\">\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=Eight Egyptian startups raise USD 52 mn in June&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/\">\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\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/&title=Eight Egyptian startups raise USD 52 mn in June\">\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=Eight+Egyptian+startups+raise+USD+52+mn+in+June+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F08%2Feight-egyptian-startups-raise-usd-52-mn-in-june%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\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566712\" class=\"content-area-description single-story post-566712 post type-post status-publish format-standard hentry category-speed-round-startup-watch tag-e-commerce tag-enterprisepm tag-fintech tag-gender tag-logistics tag-mena tag-startup-watch tag-startups tag-trella tag-uae tag-wamda 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>E<\/strong><strong>gyptian startups were the second highest recipients of funding in MENA<\/strong><strong> in <\/strong><strong>June<\/strong>, <strong>with eight businesses raisin<\/strong><strong>g USD 52 mn<\/strong>, according to <a href=\"https:\/\/www.wamda.com\/2021\/07\/mena-startups-raised-267-million-june-pushing-q2-investment-552-million\">Wamda<\/a>. The majority of that figure comes from Trella\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85f214d3-40dd-4236-b156-ddf241385e11\">USD 42 mn funding round<\/a> co-led by Maersk Growth that was closed late last month. The Trella financing was the fifth largest across the region in 1H2021.<\/p>\n<p><strong>MENA startups raised a total of USD 267 mn in June through 44 agreements<\/strong>, bringing 2Q2021 investments up to over USD 552 mn \u2014 a 33% y-o-y increase compared to 1Q2020. UAE startups led the region in startup funding, raising USD 137 mn in total last month across 14 transactions.<\/p>\n<p><strong>Breakdown by industry: <\/strong>Fintech attracted the most investment with USD 306 mn, a number propelled by the USD 110 mn raised by Saudi Arabia startup Tamara in its Series A round. E-commerce came in next with USD 181 mn raised by startups in the sector, followed by logistics which accounted for USD 103 mn in total funding.<\/p>\n<p><strong>MENA almost broke the USD 1 bn mark in 1H2021<\/strong>, coming in short at USD 978 mn investments raised across 249 agreements. Some 44% of funding went to UAE startups, 27% to Saudi Arabian startups, and 12.5% to Egyptian startups.<\/p>\n<p><strong>Something we\u2019re not happy about: In June, no female-led startups received funding.<\/strong> Instead, 37 of the investments went to male-led businesses while seven agreements were signed by mixed founding teams. Across 1H2021, startups founded by men received 96% of funding agreements, while female-founded startups attracted a mere 0.9%.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/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\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trella\/\">Trella<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wamda\/\">Wamda<\/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=\"566713\" 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=\"566713\">\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\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/\">\r\n                            EBRD launches USD 120 mn Youth in Business program, provides NBE with USD 20 mn credit facility for SME lending                        <\/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\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/\" 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\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/')\">\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\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/\">\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=EBRD launches USD 120 mn Youth in Business program, provides NBE with USD 20 mn credit facility for SME lending&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/\">\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\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/&title=EBRD launches USD 120 mn Youth in Business program, provides NBE with USD 20 mn credit facility for SME lending\">\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=EBRD+launches+USD+120+mn+Youth+in+Business+program%2C+provides+NBE+with+USD+20+mn+credit+facility+for+SME+lending+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F08%2Febrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending%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\/07\/08\/ebrd-launches-usd-120-mn-youth-in-business-program-provides-nbe-with-usd-20-mn-credit-facility-for-sme-lending\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566713\" class=\"content-area-description single-story post-566713 post type-post status-publish format-standard hentry category-speed-round-development-finance tag-development-finance tag-ebrd tag-enterprisepm tag-entrepreneurship tag-heike-harmgart tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The European Bank for Reconstruction and Development (EBRD) is launching a USD 120<\/strong><strong> mn Youth in Business program<\/strong> that will offer young entrepreneur-led SMEs access to financing and technical assistance to offset youth unemployment and high emigration levels, according to a <a href=\"https:\/\/ent.news\/2021\/7\/EBRD-launches-Youth-in-Business-programme-and-pilot-Skills-in-Business-credit-facility-PR.pdf\">press release (pdf)<\/a>. \u201cLimited capital and gaps in know-how are among the biggest barriers standing in the way of young entrepreneurs\u2019 success,\u201d said Heike Harmgart, EBRD Managing Director for SEMED, adding that the program aims to build \u201ca stronger, fairer economy that works for all.\u201d<\/p>\n<p><strong>The pilot phase includes a USD 20 mn credit facility for the National Bank of Egypt (NBE)<\/strong>, to allow the state-owned bank to use for on-lending to SMEs. Other banks will also be eligible to receive financing through the USD 120 mn package. Partner banks and microfinance institutions will also be provided technical assistance to strengthen their lending capacity.<\/p>\n<p><strong>It\u2019s unclear how much individual SMEs could rake in from the program<\/strong>, but the release added that eligible businesses will also be given advisory support to attract, recruit, train and retain employees.<\/p>\n<p><strong>CATCH UP QUICK- <\/strong><\/p>\n<ul>\n<li><strong>Transport Minister Kamel El Wazir <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/173394444830984\">signed contracts with France\u2019s transportation<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/173394444830984\">operator RATP Dev<\/a><\/strong> for the management and operation of the light-rail train (LRT) that connects El Salam, the New Administrative Capital and 10th of Ramadan city, during his ongoing trip to France. <\/li>\n<\/ul>\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-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/heike-harmgart\/\">Heike Harmgart<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"566714\" 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=\"566714\">\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\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/\">\r\n                            CI Capital could be saying goodbye to Souhoola                        <\/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\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/\" 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\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/')\">\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\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/\">\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=CI Capital could be saying goodbye to Souhoola&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/\">\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\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/&title=CI Capital could be saying goodbye to Souhoola\">\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=CI+Capital+could+be+saying+goodbye+to+Souhoola+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F08%2Fci-capital-could-be-saying-goodbye-to-souhoola%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\/07\/08\/ci-capital-could-be-saying-goodbye-to-souhoola\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566714\" class=\"content-area-description single-story post-566714 post type-post status-publish format-standard hentry category-go-with-the-flow tag-ci-capital tag-consumer-finance tag-enterprisepm tag-go-with-the-flow tag-souhoola wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.9% at today\u2019s close<\/strong> on turnover of EGP 1.23 bn (0% above the 90-day average). Regional investors were net sellers. The index is down 6.1% YTD.<\/p>\n<p><strong>In the green: <\/strong>Palm Hills Development (+3.1%), Sidi Kerir Petrochemicals (+1.4%) and CIB (+0.3%).<\/p>\n<p><strong>In the red: <\/strong>Fawry (-4.6%), Pioneers Holding (-2.6%) and Cleopatra Hospital (-2.5%).<\/p>\n<p><strong>MARKET NEWS-<\/strong><\/p>\n<p><strong> Is CI Capital looking to sell Souhoola? <\/strong>The investment ban<span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>k hired Karvy Financial (<a href=\"https:\/\/www.linkedin.com\/company\/karvy-for-financial-advisory-services\/about\/\">LinkedIn<\/a>) to conduct a fair value study for its consumer finance arm, Souhoola, it said in a <a href=\"https:\/\/ent.news\/2021\/7\/CI-Capital-Souhoula-8-7-2021.pdf\">regulatory filing (pdf)<\/a>, without citing a reason for the move. An official from CI Capital refused to comment on the news.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/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\/souhoola\/\">Souhoola<\/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=\"566715\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566716\" 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=\"566716\">\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\">SCIENCE &amp; TECH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-crispr-system-could-be-the-solution-to-covid-19-sickle-cell-disease-hiv-and-more\/\">\r\n                            The Crispr system could be the solution to covid-19, sickle cell disease, HIV, and more                        <\/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\/07\/08\/the-crispr-system-could-be-the-solution-to-covid-19-sickle-cell-disease-hiv-and-more\/\" 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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Crispr technology had previously been restricted to editing the cells outside the body or in the eye, but the new development has the potential to open the door to treat once-untreatable diseases. Intellia was co-founded by Nobel Laureate Jennifer Doudna and Nessan Bermingham. The Boston-based startup teamed up with biotech company Regeneron to treat transthyretin amyloidosis, a disease in which a build-up of a problematic protein hits a patient\u2019s heart and nervous system and shortens their life expectancy.<\/p>\n<p><strong>Crispr \u2014 a refresher: <\/strong>Crispr stands for clustered regularly interspaced short palindromic repeats and was first discovered as the way that bacteria protects themselves from viruses. The bacteria has DNA sequences known as CRISPRS that exactly match viral sequences and attach itself to the virus instead and proceed to cut it, disabling the negative effects of the virus. In 2012, Doudna and her French colleague Emmanuelle Charpentier presented their research which had been trying to manipulate that same process to change genes entirely, by cutting harmful DNA and replacing them with a healthy copy through the Crispr technique.<\/p>\n<p><strong>If this sounds familiar, then it should. Crispr helped give us mRNA vaccines:<\/strong> The Crispr system was used to cut your genes and replace them with the engineered stretch of mRNA that allows your cells to crank out the necessary spike proteins that fight the covid-19 virus. You can check out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e8670b8-3b9e-4ab8-a5bd-71840c465a86\">our explainer<\/a> for more.<\/p>\n<p><strong>WANT TO KNOW MORE?<\/strong> Check out this video by MIT\u2019s The Jackson Laboratory (<a href=\"https:\/\/www.jax.org\/personalized-medicine\/precision-medicine-and-you\/what-is-crispr#\">watch, runtime: 04:12<\/a>)<\/p>\n<p><strong>There really is so much potential: <\/strong>Crispr has already been used to <a href=\"https:\/\/www.ft.com\/content\/7a993bee-391b-11e9-b72b-2c7f526ca5d0\">successfully treat<\/a> sickle cell anemia in trials by biopharma firm <a href=\"http:\/\/www.crisprtx.com\">Crispr Therapeutics<\/a>, while another company <a href=\"https:\/\/www.editasmedicine.com\">Editas Medicine<\/a> is currently in trials to treat a form of inherited blindness, according to the <a href=\"https:\/\/www.ft.com\/content\/ccc4132a-9a4b-4c06-ad2c-a45af3deeb2e\">Financial Times<\/a>. These two, plus Intellia, are the three companies with the original patents from the Crispr discoveries. However, it goes beyond even that, with the Crispr system and the ability to cut and paste whatever DNA sequences are best for us, could lend a hand in treating diseases such as cancer, muscular dystrophy, and HIV, according to <a href=\"https:\/\/www.labiotech.eu\/best-biotech\/crispr-technology-cure-disease\/\">Labiotech<\/a>.<\/p>\n<p><strong>For Intellia, Africa is a great place to roll out their treatments.<\/strong> The firm is working with the Bill & Melinda Gates Foundation to treat patients in Africa with sickle cell disease. Intellia is hoping to edit bone marrow to treat blood-based diseases without transplanting cells.<\/p>\n<p><strong>However, Crispr can pave the way for some real sci-fi weirdness: <\/strong>Although controversial, Crispr could be used to create \u201cdesigner babies\u201d with inheritable genetic changes, writes <a href=\"https:\/\/time.com\/5927342\/mrna-covid-vaccine\/\">Time Magazine<\/a>. In 2018, a young Chinese doctor used Crispr to engineer twin girls to render them resistant to HIV, introducing the world\u2019s first gene-edited babies. A year later, the girls were studied once again and it was found that their brains had been changed in a way that enhanced cognition and memory, reports <a href=\"https:\/\/www.technologyreview.com\/2019\/02\/21\/137309\/the-crispr-twins-had-their-brains-altered\/\">MIT Technology Review<\/a>. Regardless, the biophysicist He Jiankui, was sentenced to three years in prison for \u201cillegal medical practice\u201d. This shock and opposition to genetically engineered humans might not always be the case, as the emergence of the pandemic may make RNA-guided genetic editing more accepted as people look to make our species less receptive to viruses.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/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\/science\/\">science<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/science-tech\/\">SCIENCE &amp; TECH<\/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=\"566718\" 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\/07\/08\/your-essential-business-calendar-on-8-july-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566718\" class=\"content-area-description single-story post-566718 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>1-10 July (Thursday-Saturday): The government\u2019s fuel pricing committee <a href=\"https:\/\/bit.ly\/3wQkCz2\">will meet to announce<\/a> 3Q prices.<\/p>\n<p>8 July (Thursday): The UN Security Council will <a href=\"https:\/\/www.alsudaninews.com\/ar\/?p=129431\">meet<\/a> to discuss the GERD crisis with Egypt, Sudan and Ethiopia.<\/p>\n<p>14 July (Wednesday): The EGX will hold <a href=\"https:\/\/ent.news\/2021\/7\/EGX-board-elections.jpg\">board elections<\/a> for the 2021-2025 term.<\/p>\n<p>Mid-July: <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20062021&id=8bcd83a3-21d4-44b1-940d-ddcc78544942\">Legislative session expected to end<\/a>.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>21 July (Wednesday): Clean Energy Business Council\u2019s webinar <a href=\"https:\/\/www.eventbrite.ca\/e\/joint-event-wire-clean-energy-business-council-mena-tickets-157709897549\">Women entrepreneurs in clean energy<\/a> (3pm)<\/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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/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>3-5 September (Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/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>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>1 October (Friday): 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>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>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/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>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/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>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":566705,"template":"","categories":[],"tags":[],"class_list":["post-566704","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"194c16d7-eff9-4fee-9cc6-4726310b4099","teaser":"","photo_url":"https:\/\/ent.news\/2021\/7\/359.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 Inflation is up in June, but it was not as bad as everyone was expecting. - 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-inflation-is-up-in-june-but-it-was-not-as-bad-as-everyone-was-expecting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Inflation is up in June, but it was not as bad as everyone was expecting.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-inflation-is-up-in-june-but-it-was-not-as-bad-as-everyone-was-expecting\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:31:22+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/359.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-inflation-is-up-in-june-but-it-was-not-as-bad-as-everyone-was-expecting\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-inflation-is-up-in-june-but-it-was-not-as-bad-as-everyone-was-expecting\/\",\"name\":\"Enterprise Inflation is up in June, but it was not as bad as everyone was expecting. - 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