{"id":566868,"date":"2021-07-26T13:57:46","date_gmt":"2021-07-26T13:57:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566868"},"modified":"2025-12-16T05:35:35","modified_gmt":"2025-12-16T05:35:35","slug":"enterprise-egypt-wins-first-two-medals-at-2020-tokyo-olympics","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egypt-wins-first-two-medals-at-2020-tokyo-olympics\/","title":{"rendered":"Enterprise Egypt wins first two medals at 2020 Tokyo Olympics"},"content":{"rendered":"<section id=\"566870\" 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=\"566870\">\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\/26\/tonight-egypt-takes-home-two-bronze-medals-for-taekwondo-tunisian-democracy-in-crisis-also-netflix-to-expand-into-gaming\/\">\r\n                            TONIGHT: Egypt takes home two bronze medals for taekwondo. + Tunisian democracy in crisis. ALSO: Netflix to expand into gaming.                        <\/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\/26\/tonight-egypt-takes-home-two-bronze-medals-for-taekwondo-tunisian-democracy-in-crisis-also-netflix-to-expand-into-gaming\/\" 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\/26\/tonight-egypt-takes-home-two-bronze-medals-for-taekwondo-tunisian-democracy-in-crisis-also-netflix-to-expand-into-gaming\/')\">\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\/26\/tonight-egypt-takes-home-two-bronze-medals-for-taekwondo-tunisian-democracy-in-crisis-also-netflix-to-expand-into-gaming\/\">\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: Egypt takes home two bronze medals for taekwondo. + Tunisian democracy in crisis. 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ALSO: Netflix to expand into gaming.\">\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+Egypt+takes+home+two+bronze+medals+for+taekwondo.+%2B+Tunisian+democracy+in+crisis.+ALSO%3A+Netflix+to+expand+into+gaming.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Ftonight-egypt-takes-home-two-bronze-medals-for-taekwondo-tunisian-democracy-in-crisis-also-netflix-to-expand-into-gaming%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\/26\/tonight-egypt-takes-home-two-bronze-medals-for-taekwondo-tunisian-democracy-in-crisis-also-netflix-to-expand-into-gaming\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566870\" class=\"content-area-description single-story post-566870 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-amazon tag-climate-change tag-covid-19 tag-enterprisepm tag-gaming tag-netflix tag-sports tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, wonderful people, and welcome to a busy news day. <\/strong>We have plenty of business news for you, but first:<\/p>\n<p><strong><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> THE BIG STORY OF THE DAY has to be Egypt\u2019s first medals at the 2020 Tokyo Olympics. <\/strong>Hedeya Malak took home a bronze in taekwondo, downing American Paige McPherson. Malak\u2019s teammate Seif Eissa quickly followed, also taking home a bronze medal. The handball team, meanwhile, is still in contention despite losing today to world champion Denmark. We have all the details in today\u2019s Olympic update, below.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s<strong> EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Egypt beats 2020-21 budget deficit, primary surplus targets:<\/strong> Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9b256c9-96d6-4a37-8097-31671ba3016b\">recorded a primary surplus<\/a> of 1.4% of GDP, or around EGP 93.1 bn, during FY2020-2021, exceeding the 0.9% targeted by the government and the 1% forecast by the IMF.<\/li>\n<li><strong>IMF expects FDI to grow in Egypt over coming four years: <\/strong>Egypt could see FDI <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/145904dd-6ef4-40c8-9d24-a6ffa780988c\">jump as much as 60%<\/a> this fiscal year compared to last year, the International Monetary Fund believes, pointing also to a resurgence in tourism.<\/li>\n<li><strong>Sawiris family invests in proptech startup:<\/strong> Egyptian proptech startup Nawy will use the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e8fcedc-3d55-445b-937a-f7bb87bca505\">seven-figure seed funding<\/a> to improve its technology, diversify its services, and expand the team.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD- No single story is driving the news cycle <\/strong>in the western business press. The Financial Times is leading with a massive Chinese crackdown on foreign investment in education (we have more in Speed Round, below), while CNBC notes that <a href=\"https:\/\/www.cnbc.com\/2021\/07\/26\/ipos-are-on-track-for-a-record-year-as-companies-cash-in-on-sky-high-stock-prices.html\">US IPOs are on track for a record year<\/a> \u201cas companies cash in on sky-high stock prices.\u201d The question, it adds, is <a href=\"https:\/\/www.cnbc.com\/2021\/07\/26\/hellman-friedmans-patrick-healy-on-how-long-this-ipo-boom-can-last.html\">how long that can last<\/a>.<\/p>\n<p><strong>GETTING LOTS OF ATTENTION: Crypto, after BTC jumped as much as 20% to a six-week <\/strong><strong>high. <\/strong>The story is getting play in the <a href=\"https:\/\/www.wsj.com\/articles\/bitcoin-jumps-20-to-a-six-week-high-11627287544?mod=hp_lead_pos1\">Wall Street Journal<\/a> (where it leads the homepage this afternoon) and <a href=\"https:\/\/www.cnbc.com\/2021\/07\/26\/bitcoin-btc-price-tops-39000-for-the-first-time-in-nearly-6-weeks.html\">CNBC<\/a>.<\/p>\n<p><strong>SIGN OF THE TIMES- The world\u2019s largest (listed) hedgie says cryptocurrencies have \u201cno <\/strong><strong>inherent worth.\u201d <\/strong>They\u2019re great fun to trade, says <a href=\"https:\/\/www.man.com\/luke-ellis\">Man Group<\/a> boss Luke Ellis, but \u201cIf you look at cryptocurrencies as a whole, it is a pure trading instrument. There is no inherent worth in it whatsoever. It is a tulip bulb.\u201d The <a href=\"https:\/\/www.ft.com\/content\/9275baf4-0422-43a1-b8c9-9317882ca874\">Financial Times<\/a>\u2019 interview this afternoon with Ellis is a must-read for finance and crypto nerds alike.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>ON THE WIRES: \u201cTunisian democracy is in crisis after president ousts government\u201d <\/strong>leads on <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/tunisian-democracy-crisis-after-president-ousts-government-2021-07-26\/\">Reuters<\/a>, which has dumped coverage of the Olympics from the #1 spot to cover the upheaval in Tunisia. The <a href=\"https:\/\/apnews.com\/article\/africa-business-religion-tunisia-tunis-dc7ae5d0f2b3650badfdd3431cecb886\">Associated Press<\/a>, meanwhile, says police tried to prevent clashes between protesters supporting President Kais Saeid, on the one hand, and lawmakers from the Islamist Ennahdha party. Troops are reported to have \u201csurrounded Tunisia\u2019s parliament and blocked its speaker from entering.\u201d The story is also getting big play in the <a href=\"https:\/\/www.ft.com\/content\/1d53095f-2b8a-42f4-b7b3-2ce763ab0f28\">Financial Times<\/a>.<\/p>\n<p><strong>Speaking <\/strong><strong>of Tunisia: What\u2019s the view from Cairo? <\/strong>As you might expect, Islamist lawmakers are \u2026 unpopular, to say the least, in these parts. That has the domestic press giving plenty of attention to pro-Saeid demonstrators, who took to the streets overnight to cheer his locking out the Islamists. <a href=\"https:\/\/bit.ly\/2UGDQcJ\">Youm7<\/a> notes that Tunisians are \u201crejoicing,\u201d saying citizens have \u201cstormed\u201d Ennahdha\u2019s party HQ and adding that the military has surrounded key installations. The development, the newspaper writes, is \u201cpolitically welcome.\u201d On the airwaves here, talkshow screamer Amr Adib (who we have yet to forgive for siding against us on this whole \u201chighway through Maadi\u201d thing) is cheering, saying that <a href=\"https:\/\/www.youtube.com\/watch?v=Eb30sQbOjCY\">what\u2019s happening in Tunisia is on par with the run-up to the 30 June Revolution here in Egypt<\/a>.<\/p>\n<p><strong>YOUR STATUTORILY REQUIRED COVID STORY- Even those of us who are fully <\/strong><strong>vaccinated may need to wear masks a while longer<\/strong>, some scientists are warning, citing the aggressive \u201cdelta\u201d variant of the virus that causes covid-19 as \u201cthe biggest risk to the world at the moment,\u201d <a href=\"https:\/\/www.reuters.com\/world\/china\/how-delta-variant-upends-assumptions-about-coronavirus-2021-07-26\/\">Reuters writes<\/a>. The issue: Delta doesn\u2019t make you sicker, but it spreads faster from person-to-person \u2014 driving hospitalization among the unvaccinated. There\u2019s also a suggestion that it can infect fully vaccinated people easier than other variants.<\/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 Clean Energy Business Council will host <\/strong><strong><a href=\"https:\/\/www.eventbrite.ca\/e\/joint-event-wire-clean-energy-business-council-mena-tickets-157709897549\">a webinar<\/a><\/strong><strong> focused on female entrepreneurs<\/strong> in the MENA renewable energy scene at 3 pm on Wednesday, 28 July.<\/p>\n<p><strong>Egypt will host the <\/strong><strong><a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a><\/strong><strong> exhibition<\/strong> at the Egypt International Exhibition Center on 2-4 August.<\/p>\n<p><strong>The Central Bank of Egypt will meet to review interest rates<\/strong> on Thursday, 5 August.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>Modelling might have underestimated the impact of climate change on <\/strong><strong>extreme weather: <\/strong>Speaking to <a href=\"https:\/\/www.reuters.com\/business\/environment\/extreme-weather-renews-focus-climate-change-scientists-update-forecasts-2021-07-26\/\">Reuters<\/a> ahead of the release of the next Intergovernmental Panel on Climate Change (IPCC) report on 9 August, climate scientists say that they have likely underestimated, \u201cthe potential for the dramatic rise in persistent weather extremes.\u201d The report will update projections of climate change impacts by looking at new science on greenhouse gas emissions. The goal is to help governments craft more appropriate policies.<\/p>\n<p><strong>You may soon to be able to play game versions of your favourite<\/strong> <strong>Netflix shows: <\/strong>The streaming giant is planning to entice subscribers with the rollout of games as early as next year, with plans to add ad-free games onto the platform at no extra charge to counter the slowdown in subscriptions as competition reaches a peak, according to <a href=\"https:\/\/www.cnet.com\/tech\/services-and-software\/netflix-will-soon-stream-games-to-your-phone-when-its-coming-what-games-more\/\">CNET<\/a>. The company will take a Disney-style approach, creating franchises from existing fandoms of shows and movies on its platform to allow \u201cfans to go deeper,\u201d into their favourite fictional worlds, Greg Peters, Netflix\u2019s chief product officer, told the <a href=\"https:\/\/www.ft.com\/content\/7d84dfa0-c88a-4380-85a0-9e9db46124f5\">Financial Times<\/a>. <strong>Analysts are divided on how effective the move will be<\/strong>, with critics pointing to the company\u2019s existing debt, as well as the lack of shows that could be effectively gamified \u2014 save for maybe Stranger Things or Black Mirror (we\u2019d play those in a heartbeat). Netflix has said it plans to focus on mobile gaming, rather than the more competitive sector of console games.<\/p>\n<p>?<strong> TODAY IN THE TOKYO OLYMPICS- <\/strong><\/p>\n<p><strong>Hedeya Malak became the first Egyptian to step on the winners\u2019 podium<\/strong>, taking home a bronze today after four intense taekwondo matches in the women\u2019s 67kg class. She first beat France\u2019s Magda Wiet-H\u00e9nin (11-10) before losing 12-13 to Britain\u2019s Lauren Williams. Malak blasted past Tonga\u2019s Malia Paseka 19-0 in a repechage match that sent her through to the bronze medal match against the United States\u2019 Paige McPherson, who she beat 17-6.<\/p>\n<p><strong>Seif Eissa was quick to follow, taking bronze in the men's taekwondo 80kg weight class. <\/strong>Eissa won three of his four matches today. He beat Australia\u2019s Jack Marton (11-1) and then Italy\u2019s Simone Alessio (6-5) in the quarter finals, before losing to Russian Maksim Khramtsov 1-13. His final match was against Norway\u2019s Richard Ordemann, who he downed 12-4.<\/p>\n<p><strong>Egypt\u2019s handball team lost 27-32 to world champion Denmark<\/strong>, but is still in the running to qualify for the next round. Egypt has two points, while Denmark has four and Sweden two<sup><\/sup><sup><\/sup> as of dispatch. Our next match is on Wednesday at 7:15am CLT against Japan.<\/p>\n<p><strong>Omar Assar won round two of the table tennis men\u2019s singles<\/strong>, beating Ukraine\u2019s Kou Lei 4-3. His next match is tomorrow.<\/p>\n<p><strong>Fencer Mohamed Hamza lost in the men's individual foil<\/strong> quarter final to Czech Republic\u2019s Alexander Choupenitch.<\/p>\n<p><strong>Fencer Alaaeldin Abouelkassem also lost in the men\u2019s individual foil quarter final<\/strong> to Japan\u2019s Takahiro Shikine.<\/p>\n<p><strong>Nada Hafez lost the fencing women's individual sabre<\/strong> to South Korea\u2019s Kim Je-yeon.<\/p>\n<p><strong>Doha Hany and Adham Hatem Elgamal lost in the badminton mixed doubles<\/strong> against the Netherlands\u2019 Selena Piek and Robin Tabeling.<\/p>\n<p><strong>Azmy Mehelba came out #19<\/strong> in the men\u2019s skeet qualification round at the shooting competition.<\/p>\n<p><strong>Aly Badawy ranked #34 and #33 <\/strong>in two opening series sailing laser races today.<\/p>\n<p><strong>WORLD STANDINGS- Japan is now on top, having taken home eight gold medals<\/strong>, <sup><\/sup>followed by the US with seven, and China with six, as of dispatch. Egypt is now ranked at #42 after the two bronze medals won today.<\/p>\n<p><strong>WHAT TO WATCH tonight and tomorrow- <\/strong><\/p>\n<ul>\n<li>11:30pm: Basmla ElSalamoney will compete in the women\u2019s <strong>triathlon<\/strong> final at<\/li>\n<li>2:00am: Samy Abdel Razek and Radwa Abdel Latif are competing in a qualification round for the <strong>mixed shooting 10m air pistol<\/strong>.<\/li>\n<li>3:00am: <strong>Table tennis<\/strong> player Dina Meshref will play against Britt Eerland from the Netherlands in round three of the women\u2019s singles.<\/li>\n<li>4:06am: <strong>Judoka<\/strong> Mohamed Abdelaal is up against Attila Ungvari in a men\u2019s 81kg elimination round.<\/li>\n<li>4:20am: Doha Hany is competing against Turkey\u2019s Neslihan Yi\u011fit in a group A <strong>badminton<\/strong> game.<\/li>\n<li>5:00am: Youssof Tolba is playing a <strong>men\u2019s individual archery<\/strong> contest against Kazakhastan\u2019s Denis Gankin.<\/li>\n<li>6:15am: Osama Elsaeid and Alzahraa Shaban are competing in a qualification round for the <strong>mixed shooting 10m air rifle<\/strong>.<\/li>\n<li>8:30am: Omar Assar is going up against Sweden\u2019s Mattias Flack in round three of the <strong>table tennis men\u2019s singles<\/strong>.<\/li>\n<li>11:40am: Hadia Hosny and Doha Hany are competing in a <strong>women\u2019s doubles badminton<\/strong> match for Group B against Canadians Rachel Honderich and Kristen Tsia.<\/li>\n<li>12:11pm: Swimmer Ali Khalafalla is competing tomorrow in the <strong>men's 100m freestyle<\/strong> heats.<\/li>\n<\/ul>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>Startup Haus Cairo is hosting <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/under-the-microscope\/547648486259238\/\">Under The Microscope<\/a><\/strong>, an event that brings together biology experts for talks, advice, and networking with biology enthusiasts. You can catch the event on Thursday at 9am.<\/p>\n<p><strong>City tour guide <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/lamba-tour-%D8%AC%D9%88%D9%84%D8%A9-%D9%84%D9%85%D8%A8%D8%A9\/2711723672459579\/\">Qahrawya<\/a><\/strong><strong> is taking people across modern Cairo<\/strong>, specifically Garden city and Mounira, on Saturday at 1:30pm.<\/p>\n<hr class=\"grey-line\">\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- Cairo is in the 40\u00b0C zone and is staying there for a while<\/strong>, with the mercury expected to rise to 43\u00b0C later this week. Nighttime lows will reach 24\u00b0C tomorrow, but will go all the way up to 29\u00b0C next workweek, our favorite weather app adds.<\/p>\n<p><strong>Meanwhile, Sahel is also heating up<\/strong>, recording temperatures of 31\u00b0C today, and 35\u00b0C by the end of the week.<\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span 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class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-d9wse2g\" data-v=\"4\" data-block-id=\"d9wse2g\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-d9wse2g-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-d9wse2g-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" 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256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566872\" 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=\"566872\">\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: CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/online-trader-thndr-to-add-funds-eyes-margin-trading\/\">\r\n                            Online trader Thndr to add funds, eyes margin trading                        <\/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\/26\/online-trader-thndr-to-add-funds-eyes-margin-trading\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n          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trading&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/online-trader-thndr-to-add-funds-eyes-margin-trading\/\">\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\/26\/online-trader-thndr-to-add-funds-eyes-margin-trading\/&title=Online trader Thndr to add funds, eyes margin trading\">\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=Online+trader+Thndr+to+add+funds%2C+eyes+margin+trading+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fonline-trader-thndr-to-add-funds-eyes-margin-trading%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\/26\/online-trader-thndr-to-add-funds-eyes-margin-trading\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566872\" class=\"content-area-description single-story post-566872 post type-post status-publish format-standard hentry category-speed-round-capital-markets tag-capital-markets tag-enterprisepm tag-financial-services tag-investment-watch tag-islamic-finance tag-thndr 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>Zero-commission trading app <\/strong><strong><a href=\"https:\/\/thndr.app\/\">T<\/a><\/strong><strong><a href=\"https:\/\/thndr.app\/\">hndr<\/a><\/strong><strong> is looking to add new investment funds to its <\/strong><strong>platform before the end of the year<\/strong> after having recently obtained a license to allow investors to subscribe to funds through its platform, co-founder Ahmad Hammouda told us. The app is looking to roll out a number of \u201cthematic funds\u201d before the year is out, Hammouda said. A fund that invests in sharia-compliant equities could also be added at a later stage amid increasing interest in compliant instruments, he added.<\/p>\n<p><strong>Thndr is also angling for a license to allow its clients to trade on margin<\/strong>, as well as a license to act as a financial custodian, Hammouda said.<\/p>\n<p><strong>Azimut could help Thndr find a sharia-compliant fund: <\/strong>Azimut Asset Management, which has a partnership to make its funds available on Thndr, has a long-term plan to set up Egypt\u2019s first equity fund for companies that comply with Islamic law, Azimut Managing Director Ahmed Abou El Saad told us. This would, however, depend on whether Egypt sees more sharia-compliant financial instruments taken to market in the coming period, he added.<\/p>\n<p><strong>What do you mean by \u201cadding\u201d funds on Thndr? <\/strong>The license Thndr recently obtained made it possible for investors using its app to snap up investment fund certificates during subscription rounds \u2014 and to subsequently buy and sell listed certificates digitally. The brokerage has already made certificates in equity fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ab82b79-4158-4e4d-b5f8-d6a9886707a5\">\u200bAZ-Opp<\/a> and money-market fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29ab1526-8196-466e-be63-95d501bf3efa\">AZ-Savings<\/a>, both of which are run by Azimut, available through the platform.<\/p>\n<p><strong>T<\/strong><strong>he \u201cgoal is to build an investment supermarket,\u201d<\/strong> Hammouda said. Thndr will continue to be on the lookout for partnerships with hand-picked asset managers to make certificates in funds run by those asset managers available through the trading app, he noted. Thndr recently brought on board former EFG Hermes vice-president for global markets support Hatem Mohab to lead this area.<\/p>\n<p><strong>Growth outside of Egypt? <\/strong>The platform is currently focussed on expanding in Egypt and has no plans to tap foreign markets soon, he noted.<\/p>\n<p><strong>BACKGROUND: Thndr landed last year Egypt\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ed52300-b59e-469a-8c92-06e0a52ced58\">first new brokerage license<\/a><\/strong> since 2008. The company\u2019s investors include Y-Combinator, 4DX Ventures, Endure Capital, the Raba Partnership, and MSA Capital.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/islamic-finance\/\">Islamic finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thndr\/\">Thndr<\/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=\"566873\" 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=\"566873\">\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: INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/\">\r\n                            Could a Chinese crackdown on investment in education be good for Egypt?                        <\/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\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/\" 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\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/')\">\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\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/\">\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=Could a Chinese crackdown on investment in education be good for Egypt?&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/\">\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\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/&title=Could a Chinese crackdown on investment in education be good for Egypt?\">\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=Could+a+Chinese+crackdown+on+investment+in+education+be+good+for+Egypt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fcould-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt%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\/26\/could-a-chinese-crackdown-on-investment-in-education-be-good-for-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566873\" class=\"content-area-description single-story post-566873 post type-post status-publish format-standard hentry category-speed-round-investment-watch tag-cira-education tag-education tag-enterprisepm tag-fdi tag-gems tag-investment-watch tag-taaleem 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>Could a crackdown on foreign investment in China\u2019s booming education market drive <\/strong><strong>investors to<\/strong><strong> education companies in Egypt? <\/strong>A \u201csweeping overhaul\u201d of China\u2019s USD 100 bn private education industry will \u201celiminate foreign investors from much of the sector and threatens to wipe out bns of USD of investment from groups such as BlackRock, Baillie Gifford, Tencent, Sequoia and SoftBank\u2019s Vision Fund,\u201d the <a href=\"https:\/\/www.ft.com\/content\/dfae3282-e14e-4fea-aa5f-c2e914444fb8\">Financial Times<\/a> writes.<\/p>\n<p><strong>The new Chinese regulations are \u2026 sweeping, to say the least: <\/strong>They will \u201cban companies that teach school curriculum subjects from making profits, raising capital or listing on stock exchanges worldwide, and will prevent them from accepting foreign investment.\u201d<\/p>\n<p><strong>Egypt \u2014 like several Canadian provinces (<\/strong><strong><a href=\"https:\/\/www.scmp.com\/news\/world\/article\/1628071\/toronto-schools-reject-tie-chinas-confucius-institute\">here<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/www.macleans.ca\/education\/uniandcollege\/talks-end-between-confucius-institutes-and-u-manitoba\/\">here<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.cbc.ca\/news\/canada\/new-brunswick\/confucius-institute-programs-china-school-1.5259963\">here<\/a><\/strong><strong>) \u2014 has been twitchy about <\/strong><strong>foreign involvement in its K-12 education system. <\/strong>Longtime readers will remember the government here imposing back in late 2019 a 20% cap on foreign ownership of both <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/egypt-imposes-20-cap-on-foreign-ownership-of-private-schools\/\">private<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/19\/egypts-education-ministry-limits-foreign-ownership-in-intl-schools\/\">international<\/a> schools. The move came despite the state working overtime to lure foreign universities to open branch, satellite and partner campuses here.<\/p>\n<p><strong>But the doors here are now open: <\/strong>Egyptian universities are rolling out the red carpet for foreign investors (folks wanting to open a new university here in most fields now <a href=\"https:\/\/enterprise.press\/blackboards\/comes-higher-education-govts-gaze-set-firmly-abroad\/\">need a foreign partner<\/a>). What\u2019s more, K-12 schools (private and international alike) have been able since early 2020 to formally <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a82bf3e0-4a1c-4f22-94a3-ab89576ad463\">apply for exemptions to the ownership cap<\/a>.<\/p>\n<p><strong>Egypt has two listed education outfits: <\/strong>CIRA, the kindergarten through university giant, and newly listed Taaleem, which focuses on post-secondary education. Others, including GEMS (which has partnerships with EFG Hermes and the Sovereign Fund of Egypt) and Choueifat, are privately held but have large foreign shareholders.<\/p>\n<p><strong>Looking for more on where to invest in education here in Egypt? <\/strong>Look no further than <a href=\"https:\/\/enterprise.press\/blackboards\/\">Blackboard<\/a>, our weekly deep dive into the business of education. This morning\u2019s story: <a href=\"https:\/\/enterprise.press\/blackboards\/what-are-technical-colleges-and-what-are-they-doing\/\">How the private sector can get a piece of the government\u2019s new push to roll out technical colleges.<\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/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=\"566874\" 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=\"566874\">\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: RETAIL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/bye-bye-souq-hello-amazon-eg\/\">\r\n                            Bye bye Souq, hello Amazon.eg                        <\/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\/26\/bye-bye-souq-hello-amazon-eg\/\" 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\/26\/bye-bye-souq-hello-amazon-eg\/')\">\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\/26\/bye-bye-souq-hello-amazon-eg\/\">\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=Bye bye Souq, hello Amazon.eg&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/bye-bye-souq-hello-amazon-eg\/\">\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\/26\/bye-bye-souq-hello-amazon-eg\/&title=Bye bye Souq, hello Amazon.eg\">\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=Bye+bye+Souq%2C+hello+Amazon.eg+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fbye-bye-souq-hello-amazon-eg%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\/26\/bye-bye-souq-hello-amazon-eg\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/458.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566875\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/bye-bye-souq-hello-amazon-eg\/458-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/458.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"458.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/458.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/458.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566874\" class=\"content-area-description single-story post-566874 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-retail tag-amazon tag-e-commerce tag-enterprisepm tag-retail tag-souq 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>Amazon will be launching Amazon.eg later this year, ultimately replacing Souq as its <\/strong><strong>Egypt selling platform, <\/strong>the company announced in a <a href=\"https:\/\/ent.news\/2021\/7\/Amazon-to-launch-Amazon.eg-later-this-year-English.pdf\">press release (pdf)<\/a><sup><\/sup>. The move will give \u201clocal businesses the opportunity to reach more customers across the country,\u201d according to the statement. The e-commerce giant had operated in Egypt through Souq since it <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/04\/amazon-has-completed-its-acquisition-of-souq-com\/\">acquired<\/a> the Dubai-based online retailer in 2017. The statement did not specify a date for the launch of the new platform.<\/p>\n<p><strong>Vendors on Souq can now <\/strong><strong><a href=\"https:\/\/sell.amazon.eg\/\">register<\/a><\/strong><strong> on the Amazon Seller Central<\/strong> to begin selling on Amazon.eg as soon as the site goes live. Sellers will also have access to Fulfillment by Amazon (FBA), enabling Amazon\u2019s logistics centers to store and ship their products. \u201cAmazon already has a wide fulfillment network across Egypt and, with FBA, sellers are now able to store their products in Amazon's fulfillment centers for faster customer shipping at the time of the launch of Amazon.eg,\u201d said Amazon \/ Souq country manager Omar ElSahy.<\/p>\n<p><strong>Amazon had previously announced expansion plans for Egypt: <\/strong>The platform had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1902cf1-dcf6-45d3-a65f-02ee50aa1ea2\">last year<\/a> hinted at exploring whether Egypt could be a hub for the manufacture of its own-brand products and for exports to the wider region, and said it would also work on attracting more local manufacturers to Amazon\u2019s marketplace.<\/p>\n<p><strong>We sat down with Amazon\u2019s ElSahy last year <\/strong>for our Morning Routine series, which you can read <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e229a244-cf17-4d32-837c-4e3116adf7dd\">here<\/a>.<\/p>\n<p><strong>BACKGROUND- The value of the region\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d79f49a-c160-4a6b-a14b-51f6c172bd55\">e-commerce sector surged<\/a><\/strong><strong> 52% to reach USD <\/strong><strong>22 bn by the end of 2020<\/strong> \u2014 80% of which came from Egypt, Saudi Arabia and the UAE, according to an MIT report. Amazon\u2019s Souq and online marketplace Noon dominated the sector, accounting for more than 50% of the market share in MENA. And the sector is set to grow locally, with 40% of Egyptians surveyed saying they expect to shop online more frequently this year.<\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/souq\/\">Souq<\/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=\"566876\" 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=\"566876\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\">\r\n                            Sawiris\u2019 La Mancha transforms into mining fund                        <\/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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\" 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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/')\">\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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\">\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=Sawiris\u2019 La Mancha transforms into mining fund&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\">\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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/&title=Sawiris\u2019 La Mancha transforms into mining fund\">\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=Sawiris%E2%80%99+La+Mancha+transforms+into+mining+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fsawiris-la-mancha-transforms-into-mining-fund%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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566877\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/460-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"460.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566876\" class=\"content-area-description single-story post-566876 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterprisepm tag-evs tag-gold tag-la-mancha tag-mining tag-naguib-sawiris 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>Sawiris-run La Mancha is transforming itself into a USD 1.4 bn mining fund <\/strong>that includes all of La Mancha\u2019s current gold mining assets as well as a USD 100 mn contribution from an unnamed strategic investor, the firm said in a <a href=\"https:\/\/ent.news\/2021\/7\/Phoenix-Press-Release-20210723-vdef8.pdf\">press release (pdf)<\/a>. The announcement came as La Mancha announced a USD 1.4 bn first close, with Chairman Naguib Sawiris saying \u201ctransitioning to a fund structure and welcoming new investors is timely when we are seeing [potential targets] in a gold mining sector which is fragmented and needs further consolidation.\u201d<\/p>\n<p><strong>What assets has La Mancha contributed? <\/strong>Stakes in Endeavour Mining, Golden Star and Altus Strategies, all listed mining players.<\/p>\n<p><strong>What\u2019s the investment strategy going forward? La Mancha may look at stakes in smaller mining outfits <\/strong>with \u201cstrong managerial and geological potential to implement a 3-to-5-year value creation strategy.\u201d Gold and other precious metals remain at the core of the company\u2019s strategy, but it will \u201calso also <strong>have the flexibility to invest in EV battery metals<\/strong>.\u201d<\/p>\n<p><strong>Local tie-in, beyond Naguib\u2019s name: <\/strong>Sawiris-backed Altus Strategies subsidiary Akh Gold landed four gold exploration licenses for nine blocks in the Eastern Desert <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9749041e-f303-49d6-a7ef-4167d3c68224\">earlier this year<\/a> in a gold tender by the Mineral Resources Authority, following <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/11\/mineral-resources-act-amendments-set-for-parliamentary-approval-before-summer-recess\/\">amendments<\/a> to the Mineral Resources Act that Sawiris said were \u201cmore favorable and more realistic and would attract foreign investments to the sector.\u201d La Mancha <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/06\/sawiris-la-mancha-plans-gbp-6-6-mn-investment-in-altus-strategies\/\">acquired<\/a>a 35% stake in Altus in February 2020.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/la-mancha\/\">La Mancha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/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=\"566878\" 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=\"566878\">\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\">CATCH UP QUICK<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/\">\r\n                            Saudi\u2019s Aldrees Petroleum looks to grow in Egypt                        <\/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\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/\" 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\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/')\">\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\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/\">\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=Saudi\u2019s Aldrees Petroleum looks to grow in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/\">\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\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/&title=Saudi\u2019s Aldrees Petroleum looks to grow in Egypt\">\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=Saudi%E2%80%99s+Aldrees+Petroleum+looks+to+grow+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fsaudis-aldrees-petroleum-looks-to-grow-in-egypt%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\/26\/saudis-aldrees-petroleum-looks-to-grow-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566878\" class=\"content-area-description single-story post-566878 post type-post status-publish format-standard hentry category-catch-up-quick tag-catch-up-quick tag-enterprisepm tag-oil-and-gas tag-saudi-arabia tag-united-oil-gas tag-wataniya-petroleum 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>Saudi Arabia\u2019s Aldrees Petroleum and Transport Services is planning to expand into <\/strong><strong>Egypt by opening 60 fuel stations in the country during 2H2021<\/strong>, according to <a href=\"https:\/\/www.arabnews.com\/node\/1900141\/business-economy\">Arab News<\/a>. Aldrees has reportedly submitted a request to acquire existing service stations in Egypt, but is awaiting a response. The Saudi company has previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97d049e6-a61e-4b0c-889d-f141f384cee9\">expressed interest in Wataniya Petroleum<\/a>, but it is unclear whether the expansion plans rest on the success of that proposed acquisition.<\/p>\n<p><strong>United Oil & Gas is attributing its \u201cexceptional\u201d operational and financial success <\/strong><strong>in 1H2021 to its drilling operations in Egypt<\/strong>, as their local assets \u201ccontinue to perform beyond expectations,\u201d said CEO Brian Larkin, according to a <a href=\"https:\/\/polaris.brighterir.com\/public\/united_oil_and_gas\/news\/rns\/story\/xezqvzx\">press release<\/a>. Revenue for the first half of the year is expected to come in at USD 10.3-10.5 mn, the company said, ahead of the release of its 1H2021 results in September. The success in Egypt is pushing the UK oil firm to drill a new exploration well under their Egyptian license in Abu Sennan, with United already working with unnamed JV partners to decide on its 2022 drilling strategy.<\/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\/catch-up-quick\/\">CATCH UP QUICK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-oil-gas\/\">United Oil &amp; Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wataniya-petroleum\/\">Wataniya Petroleum<\/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=\"566879\" 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=\"566879\">\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\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/nbk-egypt-mulls-delisting-from-egx\/\">\r\n                            NBK Egypt mulls delisting from EGX                        <\/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\/26\/nbk-egypt-mulls-delisting-from-egx\/\" 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\/26\/nbk-egypt-mulls-delisting-from-egx\/')\">\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\/26\/nbk-egypt-mulls-delisting-from-egx\/\">\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=NBK Egypt mulls delisting from EGX&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/nbk-egypt-mulls-delisting-from-egx\/\">\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\/26\/nbk-egypt-mulls-delisting-from-egx\/&title=NBK Egypt mulls delisting from EGX\">\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=NBK+Egypt+mulls+delisting+from+EGX+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fnbk-egypt-mulls-delisting-from-egx%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\/26\/nbk-egypt-mulls-delisting-from-egx\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566879\" class=\"content-area-description single-story post-566879 post type-post status-publish format-standard hentry category-go-with-the-flow tag-capital-markets tag-egx tag-enterprisepm tag-go-with-the-flow tag-national-bank-of-kuwait wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The National Bank of Kuwait (Egypt) is considering delisting from the EGX: <\/strong>The bank\u2019s board of directors will meet on 10 August to discuss whether to call an extraordinary general assembly meeting to weigh in on the matter, according to <a href=\"https:\/\/ent.news\/2021\/7\/%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%89-26-7-2021.pdf\">an EGX statement (pdf)<\/a>. This is based on a request by shareholders owning more than 94% of the bank\u2019s shares.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The EGX30 fell 0.5% at today\u2019s close<\/strong> on turnover of EGP 1.73 bn (30.1%<sup><\/sup> above the 90-day average). Regional investors were net buyers. The index is down 1.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>GB Auto (+3.0%), Ezz Steel (+1.6%) and CI Capital (+1.6%).<\/p>\n<p><strong>In the red: <\/strong>Emaar Misr (-2.9%), Amoc (-2.2%) and Edita (-2.2%).<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/national-bank-of-kuwait\/\">National Bank of Kuwait<\/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=\"566880\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566881\" 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=\"566881\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE CHANGE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/\">\r\n                            City life must change if we are to get to net zero by 2050                        <\/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\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/\" 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\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/')\">\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\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/\">\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=City life must change if we are to get to net zero by 2050&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/\">\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\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/&title=City life must change if we are to get to net zero by 2050\">\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=City+life+must+change+if+we+are+to+get+to+net+zero+by+2050+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F26%2Fcity-life-must-change-if-we-are-to-get-to-net-zero-by-2050%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\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/462.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566882\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/city-life-must-change-if-we-are-to-get-to-net-zero-by-2050\/462-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/462.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"462.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/462.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/462.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566881\" class=\"content-area-description single-story post-566881 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-change tag-carbon-footprint tag-climate-change tag-enterprisepm tag-oil-and-gas 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-07\"><\/a> <strong>What net zero actually means for cities: <\/strong>Countries around the world are committing to <a href=\"https:\/\/www.bbc.com\/future\/article\/20200922-how-london-could-achieve-net-zero-carbon-by-2050\">net-zero targets<\/a>, with some officiating it into legally binding agreements. For many, the plan is to gradually phase out carbon emissions, eventually <a href=\"https:\/\/www.bbc.com\/future\/article\/20200922-how-london-could-achieve-net-zero-carbon-by-2050\">eliminating them altogether by 2050<\/a>. But on a micro scale, what does this mean for cities that have long been known for their toxic 21st century smog? How can a city that is dependent on fossil fuels and crammed with traffic and carbon-emitting vehicles, possibly become net zero? And how does this translate into an effective urban development plan that paves the way for the \u201ccities of the future?\u201d<\/p>\n<p><strong>Cities vs net zero: <\/strong>Cities cover 3% of the earth\u2019s land surface, but create more than 70% of all carbon emissions. To keep global temperature increases to 1.5\u00b0C or below, cities must achieve net-zero carbon emissions, according to a <a href=\"http:\/\/www3.weforum.org\/docs\/WEF_Net_Zero_Carbon_Cities_An_Integrated_Approach_2021.pdf\">report<\/a> developed in collaboration with the World Economic Forum.<\/p>\n<p><strong>What is net zero and why is it important? <\/strong>Net zero emissions will be achieved when all greenhouse gas emissions (GHG) are counterbalanced with an equivalent amount of carbon removal techniques, such as planting trees. We can get to zero while actually still producing some emissions, as long as they are offset by other environmentally-friendly projects that help achieve climate neutrality. By 2050, Cairo will be home to an estimated 38 mn people, although the target is not to exceed 30 mn by that time, according to a <a href=\"https:\/\/mirror.unhabitat.org\/downloads\/docs\/8635_42944_AymanEl-hefnawi.pdf\">report by UN habitat (pdf)<\/a>. A 2018 <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/02\/cairo-named-worlds-most-polluted-city\/\">UK study<\/a> identified Cairo as the most polluted city in the world. Current data is unclear on whether this has actually improved or not, though air pollution is reportedly costing Egypt <a href=\"https:\/\/enterprise.press\/greeneconomys\/air-pollution-costing-egypt\/\">bns every year<\/a>.<\/p>\n<p><strong>What has Egypt committed to doing to get to net zero? <\/strong>Egypt ratified the <a href=\"https:\/\/unfccc.int\/process-and-meetings\/the-paris-agreement\/the-paris-agreement\">Paris agreement<\/a> in 2017, committing along with almost 200 other nations to limiting global warming to 1.5 degrees celsius and working toward achieving a climate neutral world by 2050.<\/p>\n<p><strong>How can we get there?<\/strong> Populated cities must take a holistic approach, defined as systemic efficiency, placing transport, energy infrastructure, and waste management at the forefront of their 2050 agendas. In order to move closer to a net zero emissions future, governments should prioritize areas including the following.<\/p>\n<p><strong>Support electric vehicle adoption (EV): <\/strong>Fossil-fuel vehicles are a large contributor to carbon emissions, and they should be reduced to as close to zero as possible. Egypt has been taking steps to that effect by providing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b884ec35-1a73-4df1-83e5-10ee39326fcd\">incentives to importers<\/a> of components for EV cars, and plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ebc60e-2d0f-40a7-a82e-41296a02f798\">produce locally assembled EVs<\/a>. The government is also working on setting up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c2b1fb1-bc6d-4c3a-b1e3-a52b3d9824d4\">charging points<\/a> across the country to support the transition, and is launching EV testing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90d6f7ac-fc42-4056-84d6-a14086b167f1\">this month<\/a>.<\/p>\n<p><strong>Switch to less polluting fuels: <\/strong>The government has also been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b32a76e-edee-488e-bb81-5700f30f1229\">spearheading a national project<\/a> to swap out petrol-powered cars for vehicles that run on compressed natural gas (CNG). CNG-powered vehicles <a href=\"https:\/\/www.aucegypt.edu\/news\/using-natural-gas-cars-alternative-gasoline-it-future\">reportedly produce<\/a> 30-60% fewer nitrogen oxide emissions and 97% fewer carbon-monoxide emissions. The swap scheme has even been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">extended to Tuk Tuks<\/a> to get the old, polluting vehicles off the road.<\/p>\n<p><strong>Public transportation: <\/strong>The natural first choice for transportation should become public transportation. Egypt has also been making progress in this respect, from producing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d119afbb-b698-486e-aefe-f16825722f8c\">locally assembled electric buses<\/a> to breaking ground on its long-awaited <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/egypt-signs-usd-4-5-bn-agreement-for-monorails-to-giza-and-new-capital\/\">electric monorail lines<\/a><strong>.<\/strong><\/p>\n<p><strong>Or go totally vehicle-less:<\/strong> EVs still take up space and do not contribute to easing congestion, and any country that wants to take the net zero target seriously needs a strategy for reducing overall car use. Establishing bicycle lanes and promoting cycling should also be on the agenda.<\/p>\n<p><strong>Promote energy efficient buildings<\/strong>: Buildings need to be decarbonized through urban design. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3832802c-36ea-4d25-b35f-2efd570cbaf2\">Rooftop solar panels<\/a> can help curb carbon emissions, and could save households up to EGP 320k in their lifetimes. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/05c82fe7-aaed-423c-af5f-2690e75bbf0f\">Green roofs<\/a> can also be a great way to provide a cooling effect to cities and contribute to CO2 absorption.<\/p>\n<p><strong>The switch to renewable energy sources is key: <\/strong>Fossil fuels should have a very small role in 2050, and the <a href=\"https:\/\/www.iea.org\/reports\/net-zero-by-2050\">IEA<\/a> forecasts that coal will contribute just 4% of the global energy supply. Around 70-85% of the world\u2019s energy should come from renewable sources by 2050, with the IEA estimating that solar power will increase 20 times and wind power 11 times. The good news is that much of the necessary technology is widely available and increasingly cost-competitive. Solar and wind now provide the cheapest power available for 67% of the world, according to the <a href=\"https:\/\/www.wri.org\/insights\/net-zero-ghg-emissions-questions-answered\">World Resources Institute.<\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-footprint\/\">carbon footprint<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"566883\" 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\/26\/your-essential-business-calendar-on-26-july-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566883\" class=\"content-area-description single-story post-566883 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>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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/p>\n<p>28 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>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>9 August (Monday): Russian flights to Sharm El Sheikh, Hurghada resume.<\/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>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> 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>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/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>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/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>December 14-19 (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>. <sup><\/sup><\/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":566869,"template":"","categories":[],"tags":[],"class_list":["post-566868","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c08dfba6-eca4-4495-9f77-bdb780f9b295","teaser":"","photo_url":"https:\/\/ent.news\/2021\/7\/456.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 Egypt wins first two medals at 2020 Tokyo Olympics - 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-egypt-wins-first-two-medals-at-2020-tokyo-olympics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Egypt wins first two medals at 2020 Tokyo Olympics\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egypt-wins-first-two-medals-at-2020-tokyo-olympics\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:35:35+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\/456.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-egypt-wins-first-two-medals-at-2020-tokyo-olympics\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-egypt-wins-first-two-medals-at-2020-tokyo-olympics\/\",\"name\":\"Enterprise Egypt wins first two medals at 2020 Tokyo Olympics - 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