{"id":557370,"date":"2021-09-16T04:00:49","date_gmt":"2021-09-16T04:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=557370"},"modified":"2025-12-16T01:39:56","modified_gmt":"2025-12-16T01:39:56","slug":"the-central-bank-is-likely-to-leave-interest-rates-unchanged-when-it-meets-today","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-central-bank-is-likely-to-leave-interest-rates-unchanged-when-it-meets-today\/","title":{"rendered":"The central bank is likely to leave interest rates unchanged when it meets today"},"content":{"rendered":"<section id=\"557372\" 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=\"557372\">\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're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/\">\r\n                            THIS MORNING: it\u2019s interest rate day; The semi-finals of the CIB Egyptian Squash Open take place today; Egypt-Libya committee meeting today.                        <\/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\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/\" 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\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/')\">\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\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/\">\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=THIS MORNING: it\u2019s interest rate day; The semi-finals of the CIB Egyptian Squash Open take place today; Egypt-Libya committee meeting today.&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/\">\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\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/&title=THIS MORNING: it\u2019s interest rate day; The semi-finals of the CIB Egyptian Squash Open take place today; Egypt-Libya committee meeting today.\">\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=THIS+MORNING%3A+it%E2%80%99s+interest+rate+day%3B+The+semi-finals+of+the+CIB+Egyptian+Squash+Open+take+place+today%3B+Egypt-Libya+committee+meeting+today.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Fthis-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today%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\/09\/16\/this-morning-its-interest-rate-day-the-semi-finals-of-the-cib-egyptian-squash-open-take-place-today-egypt-libya-committee-meeting-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557372\" class=\"content-area-description single-story post-557372 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-diplomacy tag-enterpriseam tag-inflation tag-interest-rates tag-libya tag-monetary-policy tag-sports tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Well, ladies and gentlemen<\/strong>: We have the meatiest workaday issue that we can remember to close out the week. Before we get down to it though, as we say every six weeks...<\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>It\u2019s interest rate day here in Egypt:<\/strong> The Central Bank of Egypt will meet later today to review interest rates. All 10 analysts <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/265b75b2-0602-4c6d-b642-e733855acbb3\">we polled<\/a> last week expect policymakers to leave rates on <strong>hold<\/strong> for a seventh consecutive meeting, pointing to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">the uptick in inflation<\/a> and the pressure to maintain foreign inflows into Egyptian debt. Participants in a <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2G918A\">Reuters<\/a> poll also expect the MPC to leave rates unchanged.<\/p><p><strong>WHAT ELSE IS HAPPENING TODAY- <\/strong><\/p><p><strong>The Egyptian-Libyan Higher Committee is set to meet for the first time today <\/strong><strong>since 2009.<\/strong> A Libyan delegation headed by interim PM Hamid Debeibeh <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/225127639657664\">arrived in Cairo yesterday<\/a> for the meeting. Dbeibeh will hold talks with Prime Minister Moustafa Madbouly ahead of the committee\u2019s main session. The committee was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79aafd9e-fa39-4485-ae8f-6b0e08cf4d50\">revived this spring<\/a> following the restoration of official ties between Egypt and Libya. Libyan General Khalifa Haftar and the speaker of the Tobruk-based House of Representatives Aguila Saleh \u2014 who <a href=\"https:\/\/thearabweekly.com\/postponement-dbeibehs-visit-benghazi-shows-persisting-divide\">haven\u2019t always seen eye to eye<\/a> with Dbeibeh \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb7e732f-3e72-4fd8-ad0b-384d8c2427af\">were in Cairo on Tuesday<\/a> for talks with President Abdel Fattah El Sisi.<\/p><p><strong>Infrastructure diplomacy ahead of the meeting:<\/strong> Transport ministers from both countries <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/224845473019214\">signed two agreements<\/a> that will see Egyptian companies work on Libyan infrastructure works such as roads and bridges as well as projects to upgrade Libya\u2019s ports and lower pollution.<\/p><p><strong>The semi-finals of the <\/strong><strong><a href=\"http:\/\/cibegyptiansquashopen.net\/\">CIB Egyptian Squash Open<\/a><\/strong><strong> are being played today:<\/strong> In the women\u2019s draw, world no.1 Nour El Sherbiny plays third seed Camille Serme while world no.2 Nouran Gohar faces fourth seed Amanda Sobhy. In the men\u2019s, first seed Mohamed El Shorbagy is up against Tarek Momen while world no.2 plays Paul Coll.<\/p><p><strong>ALSO- EFG Hermes\u2019 fourth Virtual Investor Conference continues today, <\/strong>running through to 21 September with the theme of \u201cAfter Reflation \u2014 FEMs in 2022.\u201d<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.un.org\/en\/ga\/\">UN General Assembly<\/a><\/strong><strong> is ongoing in New York until 30 September<\/strong>. The general debate will take place from 20-28 September. Leaders from at least 83 countries are <a href=\"https:\/\/www.nytimes.com\/2021\/09\/12\/world\/covid-united-nations-general-assembly.html\">expected to attend in person<\/a> \u2014 in contrast to last year, when the meeting was almost 100% virtual. There\u2019s no word yet on whether President Abdel Fattah El Sisi will attend in person or virtually.<\/p><p><strong>NEXT WEEK- The US Federal Reserve meets to review interest rates on 21-22 <\/strong><strong>September<\/strong><strong>. <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77adce95-5d37-4e50-80f7-9a1708f11a2b\">Pressure<\/a> has been building on the Fed to take a more hawkish stance to combat inflation by bringing its stimulus programme to a premature end and start raising interest rates earlier than planned. But a slight <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9868ca17-e0b0-40d9-b034-bb9444f7c910\">slowdown in US consumer price inflation<\/a> last month could give the Fed a breather and relieve pressure for a policy change.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape real estate investment conference<\/a><\/strong><strong> gets underway next week<\/strong> at the Egypt International Exhibition Center. The event runs from Wednesday, 22 September to Saturday 25.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><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<\/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    <\/p><\/div>\n<\/div>\n<\/div><p><strong>***IN CASE YOU MISSED IT-<\/strong><\/p><ul>\n<li><strong>Egypt will start shipping natural gas to Lebanon before the end of the year<\/strong>, Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7936b1e-2242-4d98-92ee-3513fe31ed42\">told Bloomberg<\/a>. The gas will be sent through a currently out-of-use pipeline connecting Egypt to Jordan and Syria, and be used to power a 450 MW plant in northern Lebanon, hopefully lessening the chronic power shortages plaguing the country.<\/li>\n<li><strong>Could the world\u2019s most indebted company spark a systemic banking crisis in China? <\/strong>Evergrande, China\u2019s second-largest property developer, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdb867b2-feec-4aa1-9176-6b593046cf44\">could be on the verge of defaulting<\/a> on its massive debts, forcing it to offer units for sale at cut rates to clear out inventory and try to keep up with repayments<\/li>\n<li><strong>The EU will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7936b1e-2242-4d98-92ee-3513fe31ed42\">ship another 200 mn vaccines<\/a><\/strong><strong> to Africa<\/strong> by the middle of 2022, European Commission President Ursula von der Leyen said yesterday. This takes the EU\u2019s total commitment to 450 mn shots.<\/li>\n<\/ul>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/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=\"557373\" 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                            \"\r\n            id=\"557373\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/557373\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557373\" class=\"content-area-description single-story post-557373 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/SOMA-ENTERPRISE-TRIIFI-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>We can't wait to see the endurance sports community back at Somabay Redsea, taking on the Supersprint, Sprint, Olympic, Youth, & Kids Races at a destination that's truly outstanding by nature.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557374\" 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=\"557374\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/remittances-hit-record-high-in-fy2020-2021\/\">\r\n                            Remittances hit record high in FY2020-2021                        <\/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\/09\/16\/remittances-hit-record-high-in-fy2020-2021\/\" 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 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FY2020-2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/remittances-hit-record-high-in-fy2020-2021\/\">\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\/09\/16\/remittances-hit-record-high-in-fy2020-2021\/&title=Remittances hit record high in FY2020-2021\">\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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/remittances-hit-record-high-in-fy2020-2021\/219-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/219.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"219.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/219.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/219.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557374\" class=\"content-area-description single-story post-557374 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam 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-01\"><\/a> <strong>Remittances hit a record high in FY2020-2021<\/strong>, growing more than 13% to USD 31.4 bn compared to USD 27.8 bn the previous fiscal year, according to <a href=\"https:\/\/ent.news\/2021\/9\/Press-Release-of-Remittances-..-june-2021-1.pdf\">central bank figures (pdf)<\/a> released yesterday. Inflows rose almost 30% to USD 8.1 bn in 4Q, up from USD 6.2 bn in the same period last year.<sup><\/sup><\/p>\n<p><strong>Inflows held up well through the pandemic:<\/strong> Remittances shrugged off covid lockdowns and the global oil price crash to rise 7% to USD 29.2 bn during 2020. In the second quarter \u2014 during which the initial wave of covid coincided with a historic slump in the price of oil \u2014 inflows slipped 10% y-o-y, only to rebound immediately the following quarter, reaching a multi-year high of more than USD 8 bn. Many analysts had issued more apocalyptic forecasts for Egyptian remittances, which rely heavily on expats living in Gulf economies that were hit hard by the oil crash and months of lockdown.<\/p>\n<p><strong>Egypt was one of the top five remittance destinations in 2020<\/strong>, <a href=\"https:\/\/ripple.com\/insights\/national-bank-of-egypt-and-lulu-international-exchange-connect-through-ripplenet-to-elevate-remittance-experience-into-egypt\">according to Ripple<\/a>. Central bank data put the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9026fa43-ed04-4d8d-bed4-2b429442b37b\">value of remittances<\/a> last year at USD 29.6 bn, up 10% from 2019 in spite of the disruption caused by the pandemic and the turmoil in the energy markets.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"557376\" 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=\"557376\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/two-renewable-energy-producers-want-to-delay-work-on-their-egypt-projects\/\">\r\n                            Two renewable energy producers want to delay work on their Egypt projects                        <\/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\/09\/16\/two-renewable-energy-producers-want-to-delay-work-on-their-egypt-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Saudi Arabia\u2019s ACWA Power and the UAE\u2019s Al Nowais have in recent days asked the Electricity Ministry to extend the timelines for implementing their projects, according to the NREA\u2019s Deputy Director Ehab Ismail, who says that rising shipping costs and an increase in the prices of solar cells are putting the companies over budget.<\/p>\n<p><strong>This follows reports in the local press earlier this week<\/strong> that claimed ACWA <a href=\"https:\/\/economyplusme.com\/75567\/\">is seeking<\/a> to postpone work on its 200 MW Kom Ombo solar plant by nine months and Al Nowais wants to <a href=\"https:\/\/admin.alborsanews.com\/2021\/09\/13\/1460436\">extend fundraising<\/a> for its solar power projects by six months until June 2022. Another source familiar with the matter confirmed to Enterprise yesterday that the company has asked the ministry to delay the project, but denied that it requested nine months and declined to disclose further details. Enterprise was unable to reach a representative from Al Nowais to confirm the claims made by Al Borsa.<\/p>\n<p><strong>Delay or sell?<\/strong> Al Mal claimed earlier this week that Al Nowais is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/507a45b0-6eca-4dea-b008-ea18d022f525\">ready to sell its license<\/a> to operate a solar plant at Benban, writing that 10 companies are in the running to acquire it. Enterprise was unable to verify the claims.<\/p>\n<p><strong>The projects could be halted until inflationary pressures ease:<\/strong> The two companies said the cost of implementing their projects would go over budget and sought to delay their implementation \u201cuntil prices settle down,\u201d Ismail said. The two companies did not seek to renegotiate the agreed upon price per unit of electricity with the Egyptian government, he added.<\/p>\n<p><strong>EETC has not yet granted the approvals<\/strong>, and is considering the technical reasons laid out by the companies before issuing a decision, he added.<\/p>\n<p><strong>ACWA Power has been a player in the Egyptian market for some time now<\/strong>, owning a minority stake in <a href=\"https:\/\/acwapower.com\/en\/projects\/benban-pv-ipp\/\">three plants in Benban<\/a>. It also has an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5fb23aa-0496-4f4b-a296-41de09a6a0ca\">upcoming project<\/a> with the Egyptian Electricity Transmission Company to convert a 2.25 GW combined cycle electricity plant in Luxor to run only on renewable sources. The company has also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80e89c63-98bd-4b7e-82a6-f7c6ba808adc\">expressed interest<\/a> in Egypt\u2019s potentially <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a70db4f1-664a-4a7b-ad25-022b8b2d3e1d\">very significant investment<\/a> in desalination. Meanwhile, Al Nowais <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/11\/al-nowais-to-build-two-renewable-energy-plants-worth-egp-16-bn-8276\/\">in2019 signed a contract<\/a> to construct a <a href=\"https:\/\/www.pv-magazine.com\/2020\/12\/16\/another-300-mw-of-solar-power-for-egypts-aswan-region\/\">500 MW solar plant<\/a> in Kom Ombo and <a href=\"https:\/\/www.ameapower.com\/amea-power-signs-power-purchase-agreement-for-500-mw-wind-and-200mw-solar-power-projects-in-egypt\/\">a 500 MW wind project<\/a> in Ras Ghareb.<\/p>\n<p><strong>Egypt has<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8b38978-d415-4824-a357-94afdd3984d7\">ambitious plans<\/a><\/strong><strong> for the renewable energy sector<\/strong>, with authorities planning to have authorized 2.4 GW worth of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bba779b5-fcf1-4c42-ab96-3c83c234d3e1\">renewable energy projects<\/a> that would cost a combined USD 1.5 bn by 2022. Several new projects will also be funded through the USD 750 bn<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">green bond issuance<\/a>Egypt closed in September 2020, when it became the first country in the region to sell climate-linked debt. The government has set <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/621fcd79-4df0-4d2e-9fc9-3cb6192027d2\">a goal<\/a> of seeing 42% of the country\u2019s electricity generated from renewable sources by 2035.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Egypt intends to sign a bilateral agreement with Cyprus to export electricity next <\/strong><strong>month<\/strong>, Electricity Minister Mohamed Shaker told <a href=\"https:\/\/admin.alborsanews.com\/2021\/09\/15\/1460925\">Al Borsa<\/a> yesterday. The pact will come ahead of a tripartite agreement to be signed by Egypt, Cyprus and Greece for the <a href=\"https:\/\/www.euroafrica-interconnector.com\/at-glance\/project-timeline\/\">USD 4 bn EuroAfrica connector project<\/a>, which Shaker said yesterday could have a transmission capacity of 3 GW. According to <a href=\"https:\/\/www.euroafrica-interconnector.com\/at-glance\/project-timeline\/\">the project\u2019s website<\/a>, the link will have an initial capacity of 1 GW.<\/p>\n<p><strong>The EuroAfrica project has been in the works for a while:<\/strong> Egypt <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/23\/egypt-signs-framework-agreement-with-cyprus-greece-power-linkage\/\">in 2019 signed<\/a> with Greece and Cyprus a cooperation framework agreement for the project, which will link Egypt\u2019s electricity grid with mainland Europe via Cyprus, Crete and Greece. The first leg of the connector linking Egypt with Cyprus is scheduled for completion at the end of next year, while Cyprus will be connected to Crete by the end of 2023.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-nowais\/\">Al Nowais<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-electricity-transmission-company\/\">Egyptian Electricity Transmission Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharos-energy\/\">Pharos Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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=\"557378\" 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=\"557378\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/lighthouse-education-weeks-away-from-egp-500-mn-first-close\/\">\r\n                            Lighthouse Education weeks away from EGP 500 mn first close                        <\/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\/09\/16\/lighthouse-education-weeks-away-from-egp-500-mn-first-close\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Holding Company, Banque Misr, and the Suez Canal Bank.<\/p>\n<p><strong>United\u2019s contribution brings the platform\u2019s total commitments that we know of to EGP 425 mn<\/strong>, but El Sherif tells us that other private sector investors are on board, taking it closer to the EGP 500 mn target. He declined to disclose the identities of the investors. MIH and its subsidiaries contributed EGP 125 mn to its initial paid-in capital, the SFE and Banque Misr EGP 100 mn each, and Suez Canal Bank EGP 50 mn, MIH Chairman Basel El Hini <a href=\"https:\/\/enterprise.press\/blackboards\/lighthouse-education-takes-off-big-plans-sector\/\">told us in July<\/a>, soon after the fund was announced.<\/p>\n<p><strong>About Lighthouse:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8298555-2c1a-4220-a384-e1e6f7eff7e4\">Announced in July<\/a>, Lighthouse Education was set up as a joint-stock company designed to channel investment into K12 private schools. It will start off by investing in <a href=\"https:\/\/enterprise.press\/blackboards\/lighthouse-education-takes-off-big-plans-sector\/\">10-12 schools<\/a>, focusing initially on Cairo and Giza before turning its attention to other areas of the country such as Alexandria, Beni Suef, Assiut, Port Said, Gharbia, and Qalyubia. It hopes to eventually increase its capital to EGP 1.75 bn.<\/p>\n<p><strong>The platform is aiming to reach its second close before the end of 2022<\/strong>, according to the statement. Under the new partnership agreement, the platform will be managed under the supervision of Al Orman schools founder Hossam El Kabbany along with and privately-owned financial advisor <a href=\"https:\/\/www.linkedin.com\/company\/ironwood-investments\/\">Ironwood Investments<\/a>, and Banque Misr\u2019s investment arm Misr Capital.<\/p>\n<p><strong>Advisors: <\/strong>Beltone Financial Holding was the financial advisor while Matouk Bassiouny law firm was the legal advisor to Lighthouse. The Sovereign Fund of Egypt tapped Renaissance Capital as its financial advisor and Baker Mckenzie as its legal advisor, and Al Kamel Law Firm was Banque Misr and Misr Capital\u2019s legal advisor.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/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\/lighthouse-education\/\">Lighthouse Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/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=\"557380\" 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=\"557380\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/\">\r\n                            Pharos Energy to sell majority stakes in Egypt oil concessions                        <\/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\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/\" 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\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/')\">\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\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/\">\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=Pharos Energy to sell majority stakes in Egypt oil concessions&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/\">\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\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/&title=Pharos Energy to sell majority stakes in Egypt oil concessions\">\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=Pharos+Energy+to+sell+majority+stakes+in+Egypt+oil+concessions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Fpharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions%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\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/224.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557381\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/224-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/224.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"224.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/224.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/224.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557380\" class=\"content-area-description single-story post-557380 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-energy tag-enterpriseam tag-ma-watch tag-pharos-energy 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>Pharos Energy has reached a farmout agreement that will see it sell majority <\/strong><strong>stakes in its two Egyptian oil concessions<\/strong> as it looks to repair its balance sheet following a tough year through covid. The energy company will sell a 55% working interest in each of its El Fayum and North Beni Suef concessions to <a href=\"https:\/\/www.iprenergygroup.com\/\">IPR Energy Group<\/a> subsidiary IPR Lake Qarun for up to USD 63.4 mn, it said in <a href=\"https:\/\/ent.news\/2021\/9\/pharos-announcement-150921.pdf\">a statement (pdf)<\/a> yesterday. The agreement, which values the assets up to USD 115 mn, should be completed during 1Q2022, according to the statement.<\/p>\n<p><strong>2020 was tough for Pharos:<\/strong> The combination of the pandemic and the oil crash took their toll on the London-based company, which reported a <a href=\"https:\/\/www.pharos.energy\/media\/5wsf2x4p\/pharos-energy-annual-report-2020-web.pdf\">USD 216 mn loss (pdf)<\/a> last year. In response, Pharos was forced to make salary cutbacks, suspend dividends, and start the process to farm out its Egypt assets last year.<\/p>\n<p><strong>What Pharos is getting from the agreement:<\/strong> Pharos will receive USD 5 mn when the transaction is completed and USD 38.4 mn to fund future costs associated with its remaining shares in the concessions. Another USD 20 mn will be paid depending on Brent prices between 2022 and 2025, the statement said.<\/p>\n<p><strong>What they said:<\/strong> The move will \u201cinstantly boost\u201d the company\u2019s balance sheet, and by bringing in a new partner will result in increased production, CEO Ed Story said.<\/p>\n<p><strong>Advisors:<\/strong> Financial services company Jefferies is acting as financial adviser and sponsor to Pharos on the transaction.<\/p>\n<p><strong>Earlier this year, Pharos Energy <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1875010a-535b-4784-abcd-e2d9b25534d2\">announced<\/a><\/strong><strong>an oil discovery with potential of 4.3 mn barrels<\/strong> in its Abu Rawash Lower \u201cG\u201d reservoir, and a smaller 430k barrel deposit in its Upper Bahariya reservoir, which is part of its El Fayum concession.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharos-energy\/\">Pharos Energy<\/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=\"557382\" 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=\"557382\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/\">\r\n                            Health Ministry says 13 mn Egyptians have now been jabbed                        <\/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\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/\" 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\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/')\">\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\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/\">\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=Health Ministry says 13 mn Egyptians have now been jabbed&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/\">\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\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/&title=Health Ministry says 13 mn Egyptians have now been jabbed\">\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=Health+Ministry+says+13+mn+Egyptians+have+now+been+jabbed+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Fhealth-ministry-says-13-mn-egyptians-have-now-been-jabbed%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\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/225.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557383\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/health-ministry-says-13-mn-egyptians-have-now-been-jabbed\/225-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/225.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"225.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/225.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/225.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557382\" class=\"content-area-description single-story post-557382 post type-post status-publish format-standard has-post-thumbnail hentry category-covid-watch tag-covid-19 tag-education tag-enterpriseam tag-pandemic tag-sinovac tag-vaccines tag-vacsera 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>Some 13 mn Egyptians have received a first dose of a covid vaccine<\/strong>, Health Minister Hala Zayed <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/224949893008772\">said during yesterday\u2019s cabinet meeting<\/a>, in a further indication that the government\u2019s vaccination campaign is ramping up.<\/p>\n<p><strong>Wait, wasn\u2019t it 8 mn just two days ago?<\/strong> According to presidential health advisor Mohamed Awad Tag El Din, who gave the figure <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bad8847-6a0d-48c2-8a41-62860df68f69\">during a Monday night interview<\/a> on Ala Mas\u2019ouleety. For both these numbers to be true, clinics around the country would have had to have handed out some 2.5 mn shots a day on Tuesday and yesterday. Unfortunately we have no way of explaining the discrepancy in these figures.<\/p>\n<p><strong>Travel vaccine centers will open their doors to all: <\/strong>Zayed said that travel vaccination centers would be opened to all registered Egyptians who are waiting for a vaccine in efforts to eliminate waiting lists. She said at the cabinet meeting that 617k people have been issued QR-code certificates after being vaccinated for travel purposes, while 5k people have been issued vaccine certificates for local use.<\/p>\n<p><strong>On local Sinovac production: <\/strong>Vacsera has so far manufactured 5 mn doses of Sinovac. The state-owned vaccine-maker earlier this month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fddb4dc9-d0b4-4724-8dbe-13bf5b807ee9\">upped its production<\/a> to 300k shots per day. Half of those 5 mn doses are being distributed this week, with the aim of supplying 2 mn every week, Zayed said.<\/p>\n<p><strong>The government expects to obtain 17 mn doses during September<\/strong>, including AstraZeneca, Sinovac, Sinopharm, Johnson & Johnson, Moderna, Sputnik, and Pfizer, the minister said. Egypt is expecting the delivery of an additional 5 mn doses of Sinopharm by the end of the month and between 100-250k doses of AstraZeneca by an undetermined date.<\/p>\n<p><strong>Universities are a big part of the vaccination drive at the moment<\/strong>, as students of all ages resume face-to-face learning. More than 300k jabs have been given to staff, faculty, and students at university vaccination centers around the country, the statement says.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/161148476196375?__cft__[0]=AZXPAIMcu2crBGR34VCpvjYwZhVsKcQL_pbNgx_b7jjxjU0yBvz_65yl4Vq8gKs46EYe9lM7UW-u92JeLxLa1kva7-QplOuEd1Z5jiKc_uBssMX3U2LTX6elZaeQvayBWoGZtrZYHs24Celz4meYJmZC&__tn__=%2CO%2CP-R\">reported<\/a><\/strong><strong> 531 new covid-19 infections yesterday<\/strong>, up from 503 the day before. Egypt has now disclosed a total of 294,482 confirmed cases of covid-19. The ministry also reported 13 new deaths, bringing the country\u2019s total death toll to 16,908.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vacsera\/\">Vacsera<\/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=\"557384\" 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=\"557384\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/\">\r\n                            Fintech startup Dopay raises USD 18 mn in series A round                        <\/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\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/\" 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\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/')\">\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\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/\">\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=Fintech startup Dopay raises USD 18 mn in series A round&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/\">\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\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/&title=Fintech startup Dopay raises USD 18 mn in series A round\">\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=Fintech+startup+Dopay+raises+USD+18+mn+in+series+A+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Ffintech-startup-dopay-raises-usd-18-mn-in-series-a-round%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\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/226.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557385\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/226-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/226.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"226.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/226.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/226.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557384\" class=\"content-area-description single-story post-557384 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-dopay tag-enterpriseam tag-fintech tag-startup-watch tag-startups tag-venture-capital 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>Egypt-based fintech startup <\/strong><strong><a href=\"https:\/\/www.dopay.com\/\">Dopay<\/a><\/strong><strong> has secured USD 18 mn in funding in a series <\/strong><strong>A round<\/strong> led by UK VC firm <a href=\"https:\/\/www.fomcap.com\/\">Force Over Mass Capital<\/a>, Dutch development bank <a href=\"https:\/\/www.fmo.nl\/\">FMO<\/a> and <a href=\"https:\/\/www.nn-group.com\/home.htm\">NN Group<\/a>, the company said in a <a href=\"https:\/\/dopaynews.pr.co\/202558-fintech-dopay-raises-us-18-million-series-a-round-to-grow-its-next-generation-virtual-banking\/\">statement<\/a> yesterday. African investor <a href=\"https:\/\/www.mbuyucapital.com\/\">Mbuyu Capital<\/a> and Nordic fund <a href=\"https:\/\/alder.se\/en\/\">Alder Tree Investments<\/a> also participated in the round.<\/p>\n<p><strong>About Dopay:<\/strong> Established in June 2014, Dopay provides payroll services and prepaid cards for the unbanked to accelerate financial inclusion in Egypt. The firm\u2019s customers include McDonalds, mass transportation app Swvl, <a href=\"https:\/\/enterprise.press\/stories\/2016\/06\/06\/emirates-nbd-bids-for-barclays-egypt\/\">Barclays-Egypt<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c6918bb-5900-49b0-a24c-9cfdb570086d\">Bank ABC<\/a>, and last month received an agent banking license from the Central Bank of Egypt.<\/p>\n<p><strong>Dopay has MENA-wide expansion plans: <\/strong>The funding will help the digital payments firm develop its existing business in Egypt and offer new financial services to its platform, according to the statement. The company also has \u201cextensive MENA-focused expansion plans,\u201d it reads, without elaborating. \u201cWe will serve a rapidly growing number of Egyptian businesses, from SMEs to major corporations, and their employees,\u201d Dopay founder and CEO Frans van Eersel said, adding that the company was \u201cready to aggressively grow our solutions, leveraging up- and cross-selling opportunities, as we increase dopay\u2019s range of services and partners across MENA.\u201d<\/p>\n<p><strong>The company is coming off a <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2016\/02\/01\/deodorants-going-cost-customs-duties-rise-luxury-goods\/\">pre-series A funding round<\/a><\/strong><strong> five years ago<\/strong> during which it raised USD 2.4 mn from Techstars Ventures and Force Over Mass Capital. In March 2019, FMO <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/12\/dutch-development-bank-invests-eur-1-mn-in-egypt-based-payroll-platform-dopay\/\">invested EUR 1 mn<\/a> in the company.<\/p>\n<p><strong>It\u2019s shaping up to be a lucrative September \u2014 and year \u2014 for Egyptian fintech:<\/strong> MNT-Halan <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b07d9131-549a-4e31-aba4-b39a6704f6ac\">last week<\/a> landed USD 120 mn in financing, in what we believe is the largest fintech round ever to take place in MENA. Meanwhile, B2B e-commerce startup and digital lender Capiter <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e159f8b4-f7ca-4e2a-bad4-b9c90de5eaf2\">this week announced<\/a> a USD 33 mn series A round, following MaxAB\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48c7f3ae-18ae-4584-9eb9-d62d863793ba\">USD 40 mn round in July<\/a> as the second-largest \u201cA\u201d round we\u2019ve seen in 2021. Fintech and microloan solutions provider Kashat also announced a more modest USD 1.75 mn bridge funding round <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/270c3c56-9a52-48b3-87c5-98315ccf62f4\">at the start of the week<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dopay\/\">Dopay<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"557386\" 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=\"557386\">\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\">DEMERGER WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/\">\r\n                            Pioneers Holding applies to register two new subsidiaries ahead of EGX debuts                        <\/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\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/\" 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\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/')\">\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\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/\">\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=Pioneers Holding applies to register two new subsidiaries ahead of EGX debuts&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/\">\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\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/&title=Pioneers Holding applies to register two new subsidiaries ahead of EGX debuts\">\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=Pioneers+Holding+applies+to+register+two+new+subsidiaries+ahead+of+EGX+debuts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Fpioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts%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\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557387\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pioneers-holding-applies-to-register-two-new-subsidiaries-ahead-of-egx-debuts\/228-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557386\" class=\"content-area-description single-story post-557386 post type-post status-publish format-standard has-post-thumbnail hentry category-demerger-watch tag-demerger tag-demerger-watch tag-enterpriseam tag-financial-regulatory-authority tag-pioneers-holding tag-pioneers-properties 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-08\"><\/a> <strong>Pioneers Holding submitted a request to register its two new subsidiaries with <\/strong><strong>the <\/strong><strong>Financial Regulatory Authority (FRA) <\/strong>in preparation for their debut on the EGX, the company said in a <a href=\"https:\/\/ent.news\/2021\/9\/Pioneers-holding-demerger.pdf\">bourse filing (pdf)<\/a>. The new companies \u2014 Pioneers Properties and Gadwa Industrial Development \u2014 will focus on real estate and industrial development, respectively, while the parent company will remain the financial services arm.<\/p>\n<p><strong>The company had said it plans to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88b520b7-0692-46f0-8d18-5843c8a92691\">split into three arms<\/a><\/strong> in what was at the time a first-of-its-kind move in Egypt. The company hopes the move will create value for shareholders by making its various activities more easily understood by investors. The company had previously said it would spin its three subsidiaries off onto the EGX under three separate tickers in 4Q2020.<\/p>\n<p><strong>Pioneers Properties will <\/strong><strong>have authorized capital<\/strong><strong> of EGP 23 bn<\/strong> and issued capital of EGP 4.7 bn distributed among 1.05 bn shares, with each share costing EGP 5.4. Gadwa Industrial will have EGP 10 bn capital and an issued capital of EGP 2 bn distributed among 1.054 shares with each share amounting to EGP 1.9.<\/p>\n<p><strong>The demerger has been in the works since 2019<\/strong>, when Pioneers Holding <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/pioneers-holding-to-make-five-mtos-split-into-three-companies\/\">announced<\/a>its plans to restructure into three companies. The company\u2019s shareholders approved plans to split the firm last <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7956da4f-7e0f-408c-8725-8af55fb61139\">July<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/demerger\/\">demerger<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/demerger-watch\/\">DEMERGER WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-holding\/\">Pioneers Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pioneers-properties\/\">Pioneers Properties<\/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=\"557388\" 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=\"557388\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/ins-fund-for-medical-staff-approved-by-cabinet\/\">\r\n                            Ins. fund for medical staff approved by cabinet                        <\/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\/09\/16\/ins-fund-for-medical-staff-approved-by-cabinet\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Compensation of EGP 20k-80k would be paid to those who had sustained a partial disability, while 100k would be paid in the event of total disability or death.<\/li>\n<\/ul>\n<ul>\n<li><strong>A draft presidential decision to establish a branch of Canada\u2019s <\/strong><strong><a href=\"https:\/\/www.ryerson.ca\/media\/releases\/2021\/02\/ryerson-university-launching-satellite-campus-in-cairo\/\">Ryerson University in Egypt<\/a><\/strong>, and amendments to the 2019 law regarding the establishment of Canadian universities in Egypt to allow them to offer MBA programs.<\/li>\n<li><strong>A partnership between the Education Ministry and <\/strong><strong><a href=\"http:\/\/www.nspo.com.eg\/nspo\/ar\/madena.html\">Silo Egypt for Food Industries<\/a><\/strong> for the provision of school meals. This comes as part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cff5080b-b5e6-4d57-8920-c15466348892\">larger presidential mandate<\/a> to improve child nutrition which is expected to cost a total of EGP 7.7 bn.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557390\" 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=\"557390\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/\">\r\n                            Turkey could hand over Egyptian fugitives + UN Security Council speaks on GERD                        <\/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\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/\" 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\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/')\">\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\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/\">\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=Turkey could hand over Egyptian fugitives + UN Security Council speaks on GERD&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/\">\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\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/&title=Turkey could hand over Egyptian fugitives + UN Security Council speaks on GERD\">\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=Turkey+could+hand+over+Egyptian+fugitives+%2B+UN+Security+Council+speaks+on+GERD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Fturkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd%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\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/230.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"557391\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd\/230-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/230.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"230.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/230.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/230.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557390\" class=\"content-area-description single-story post-557390 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-gerd tag-politics tag-turkey 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-09\"><\/a> <strong>Turkey could soon hand over Egyptian fugitives amid attempts to mend ties: <\/strong>Turkey has agreed in principle to extradite at least 20 people suspected of involvement in terror attacks in Egypt, <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2021\/09\/15\/turkey-to-extradite-militants-to-egypt-as-relations-warm\/\">the National<\/a> reports citing Egyptian security sources. In return, the sources said Egypt would consider clamping down on the activities in Egypt of exiled US-based Turkish preacher Fethullah Gulen, whom Ankara has accused of attempting to force a 2016 coup.<\/p>\n<p><strong>Turkey really wants us to be friends:<\/strong> The move comes as Turkey looks to mend an almost decade-long rift with Egypt. But after a<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2aa56d55-6a13-45cf-9f5a-f4dbac341a7d\">second round of talks<\/a> aimed at normalizing relations last week ended seemingly without concrete progress, both Egyptian Foreign Minister Sameh Shoukry and Prime Minister Mostafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/059e3fcb-aca2-41ec-acfd-a075dba93963\">said that<\/a> Turkey needs to fulfil certain requirements before diplomatic ties can be restored. If Turkey agrees to Egypt\u2019s demands to withdraw from Libya and end its \u201cforeign interference,\u201d Madbouly this week said that the two countries could potentially restore diplomatic ties before the end of the year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>UN Security Council politely declines to weigh in on GERD: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9868ca17-e0b0-40d9-b034-bb9444f7c910\">As expected<\/a>, the UN Security Council has issued a vanilla <a href=\"https:\/\/www.un.org\/press\/en\/2021\/sc14637.doc.htm\">statement<\/a> on the dispute over the Grand Ethiopian Renaissance Dam (GERD), urging Ethiopia, Egypt and Sudan to return to the negotiating table under the auspices of the African Union (AU). The statement is more or less a repeat of what the council said when it laid out a neutral stance on the conflict and backed the AU process in July, despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c28be1bd-111f-4e31-9b51-ba99b8e5e705\">concerted lobbying<\/a> by Egypt and Sudan for a stronger stance against Ethiopia, which over the summer completed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9bac17b-7239-47c1-bef4-22223142b14b\">a second filling<\/a> of the dam\u2019s reservoir.<\/p>\n<p><strong>GERD talks remain gridlocked<\/strong>: Sudan and Egypt have long lost faith in the AU as a mediator and have been trying to persuade a new mediator to enter the fray. Ethiopia has refused to accept a new process and wants to continue with the current format. We can consider this the UNSC\u2019s last word on the topic unless the situation changes drastically: as the council\u2019s Indian representative put it, \u201cas a general rule, transboundary water issues do not belong on the council\u2019s agenda.\u201d<\/p>\n<p><strong>Egypt acknowledged the UNSC statement: <\/strong>Egypt\u2019s Foreign Ministry <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/156339920009196\">said<\/a> that the release showed the special importance that UNSC members attach to the GERD issue.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"557392\" 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=\"557392\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/\">\r\n                            Alaa Eldin Mohamed elected MCDR chairman                        <\/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\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/\" 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\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/')\">\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\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/\">\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=Alaa Eldin Mohamed elected MCDR chairman&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/\">\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\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/&title=Alaa Eldin Mohamed elected MCDR chairman\">\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=Alaa+Eldin+Mohamed+elected+MCDR+chairman+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Falaa-eldin-mohamed-elected-mcdr-chairman%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\/09\/16\/alaa-eldin-mohamed-elected-mcdr-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557392\" class=\"content-area-description single-story post-557392 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-misr-for-central-clearing-depository-and-registry tag-moves tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Alaa Eldin Mohamed <\/strong><strong>was elected chairman of Misr for Central Clearing Depository <\/strong><strong>and Registry <\/strong>in elections yesterday, <a href=\"https:\/\/bit.ly\/3C9Brac\">Al Mal<\/a> reports. Mohamed, along with the nine other board members who were elected, will serve a two-year term <a href=\"https:\/\/ent.news\/2021\/9\/47413_1.pdf\">through to 2023 (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-for-central-clearing-depository-and-registry\/\">Misr for Central Clearing Depository and Registry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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=\"557393\" 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                            \"\r\n            id=\"557393\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/557393\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557393\" class=\"content-area-description single-story post-557393 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Palm-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557394\" 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=\"557394\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/\">\r\n                            Last Night\u2019s Talk Shows on GERD, the covid vaccination awareness campaign                        <\/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\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/\" 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\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/')\">\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\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/\">\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=Last Night\u2019s Talk Shows on GERD, the covid vaccination awareness campaign&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/\">\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\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/&title=Last Night\u2019s Talk Shows on GERD, the covid vaccination awareness campaign\">\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=Last+Night%E2%80%99s+Talk+Shows+on+GERD%2C+the+covid+vaccination+awareness+campaign+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Flast-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign%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\/09\/16\/last-nights-talk-shows-on-gerd-the-covid-vaccination-awareness-campaign\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557394\" class=\"content-area-description single-story post-557394 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-covid-19 tag-diplomacy tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-politics tag-religion tag-un tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a quiet night on the airwaves on Wednesday<\/strong>, with no single story capturing the interest of the talking heads.<\/p>\n<p>Nine\u2019s Youssef El Husseini <strong>held a phone interview with President Abdel Fattah El Sisi <\/strong>(<a href=\"https:\/\/www.youtube.com\/watch?v=DHLjyss_X7g\">watch, runtime: 44:01<\/a>). Asked about religious discourse and extremism, El Sisi spoke of the need for religious reform and new, critical interpretations of Fiqh. While there are constants in religion, some aspects must change to keep pace with the modern world, he said (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=PwjPLaBDImI\">3:58<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=0P98s1JfX5w\">7:31<\/a>). He also spoke on the issue of human rights in Egypt, and announced the opening of the country\u2019s largest prison complex in the coming weeks (<a href=\"https:\/\/www.youtube.com\/watch?v=90wFb1JgUX0\">watch, runtime: 6:26<\/a>).<\/p>\n<p><strong>On a slow day, go for GERD:<\/strong> Egypt\u2019s response to a neutral UN Security Council statement on the Grand Ethiopian Renaissance Dam (GERD) dispute was among the topics discussed on Alaa Mas\u2019ouleety (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=P06Z-ur6x1o\">4:33<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=BF3VhHFm9Ww\">8:00<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=NMDPGpj51fs\">2:19<\/a>). We have more on the story in this morning\u2019s Diplomacy section, above.<\/p>\n<p><strong>Either that, or covid: <\/strong>The launch of the health ministry\u2019s \u201cTogether, We Are Safe\u201d (Ma\u2019an Natamen) vaccination campaign by PM Mostafa Madbouly got coverage on Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=p0OkWrlQd7w\">watch, runtime: 2:01<\/a>). The campaign hopes to accelerate the vaccine rollout by raising public awareness of the importance of vaccination and convincing those who are hesitant to get jabbed already.<\/p>\n<p><strong>Also on the airwaves last night: <\/strong>United Nations Office on Drugs and Crime (UNODC) Executive Director Ghada Waly discussed the UN\u2019s latest Egypt Human Development Report in a phone interview with Al Hayah Al Youm\u2019s Lobna Asal. (<a href=\"https:\/\/www.youtube.com\/watch?v=t-TJfFUN7ZY\">watch, runtime: 36:54<\/a>)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/religion\/\">Religion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/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=\"557395\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 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   \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/human-rights-lead-the-conversation-on-egypt-on-16-september-2021\/\">\r\n                            Human rights lead the conversation on Egypt on 16 September 2021                        <\/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 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     <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557396\" class=\"content-area-description single-story post-557396 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-amazon tag-e-commerce tag-enterpriseam tag-gender tag-human-rights tag-illegal-immigration tag-joe-biden tag-libya wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Human rights are once again leading the conversation on Egypt this morning:<\/strong> The Washington Post has been particularly vocal in its response to Tuesday\u2019s news that the US State Department <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e770dbbc-0d53-45a7-b108-7b6258603033\">will withhold USD 130 mn in military aid<\/a> to Egypt on human rights grounds. The paper\u2019s foreign policy commentator Josh Rogin <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/09\/14\/bidens-weak-push-human-rights-wont-move-egypt\/\">describes<\/a> Biden\u2019s choice as a weak compromise that will neither satisfy rights advocates nor meaningfully strengthen bilateral ties, while in a separate opinion piece Egyptian human rights advocate Mohamed Soltan <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/09\/15\/egypt-aid-biden-administration-release-sissi\/\">writes<\/a> that the decision betrays voters who elected Biden on a promise to pursue a rights-centered foreign policy. Meanwhile, <a href=\"https:\/\/rsf.org\/en\/news\/alarm-about-mental-state-egyptian-blogger-held-past-two-years\">Reporters without Borders<\/a> is sounding the alarm on the mental health of detained activist Alaa Abdel Fattah, who has been held in custody for the past two years.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>It hasn\u2019t been a smooth entrance to Egypt for Amazon:<\/strong> Amazon recently opened its first African logistics center in Egypt and jettisoned its local Souq brand, but customers have been less than pleased about its service, raising questions about its competitiveness with better established local companies. (<a href=\"https:\/\/www.theafricareport.com\/126866\/amazons-first-african-launch-in-egypt-faces-backlash\/\">The Africa Report<\/a>)<\/li>\n<li><strong>Fifty-three Egyptians have been repatriated to Cairo by Libyan authorities <\/strong>after they were arrested for attempting to migrate by boat to Europe. Two suspected human traffickers in the case are in detention in Libya, accused of kidnapping and torturing Egyptian migrants for ransom, among other charges. (<a href=\"https:\/\/apnews.com\/article\/middle-east-africa-media-egypt-europe-0943d23b69a9a7d73f5f470b046244d0\">AP<\/a>)<\/li>\n<li><strong>An Egyptian man who says he was assaulted during LGBT+ conversion therapy<\/strong> is among those profiled in a report on the abusive practice amid moves from several countries to ban it. (<a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2Q83I8\">Reuters<\/a>)<\/li>\n<li><strong>Egyptian designer Noura Galal is challenging body and beauty standards <\/strong>through her tailor-made fashion brand Rafeya, launched in 2015. (<a href=\"https:\/\/www.reuters.com\/video\/watch\/egyptian-designer-challenges-global-fash-idOVEUP6JJB\">Reuters<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/illegal-immigration\/\">illegal immigration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/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=\"557397\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"557398\" 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=\"557398\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/geely-and-abou-ghaly-make-it-official\/\">\r\n                            Geely and Abou Ghaly make it official                        <\/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\/09\/16\/geely-and-abou-ghaly-make-it-official\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The partnership was first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5114478a-0748-4044-83c7-5597e3488669\">announced in August<\/a>, soon after GB Auto parted ways with Geely, having introduced it to the market.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/geely\/\">Geely<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/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=\"557399\" 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=\"557399\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/\">\r\n                            Short-term pain for long-term gain is Wall Street\u2019s motto at the moment                        <\/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\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/\" 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\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/')\">\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\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/\">\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=Short-term pain for long-term gain is Wall Street\u2019s motto at the moment&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/\">\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\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/&title=Short-term pain for long-term gain is Wall Street\u2019s motto at the moment\">\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=Short-term+pain+for+long-term+gain+is+Wall+Street%E2%80%99s+motto+at+the+moment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F16%2Fshort-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment%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\/09\/16\/short-term-pain-for-long-term-gain-is-wall-streets-motto-at-the-moment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557399\" class=\"content-area-description single-story post-557399 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-11\"><\/a> <strong>Short-term pain for long-term gain is Wall Street\u2019s motto at the moment: <\/strong>Option trading shows that implied volatility has climbed, but the actual level of price swings has mellowed down, according to a Sundial Capital note seen by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-14\/equities-have-little-to-fear-now-fear-itself-has-made-a-comeback?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. That means that \u201cin the short term, options traders are \u2018smarter,\u2019 while in the medium-term, investors have been,\u201d the note read. Sundials\u2019 note comes after the S&amp;P 500\u2019s worst week in almost three months. The firm looked at eight similar circumstances for the index historically and found that a rally always followed within two months of the S&amp;P being within 1% of a record low while volatility was high, indicating a rally could be in the cards soon.<\/p><p><strong>Pray for dispatch:<\/strong> Tech firm Intuit has agreed to purchase leading email marketing platform Mailchimp for around USD 12 bn in a cash and stock transaction, it announced in <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210913005806\/en\/Intuit-to-Acquire-Mailchimp\">a statement<\/a> on Monday.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,149<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD a<\/strong><strong>t<\/strong><strong> CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,410<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +31.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,823<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +55.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,885<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +15.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,480.70<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +19.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,016<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 75.46<\/p>\n<\/td>\n<td>\n<p>+2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.38<\/p>\n<\/td>\n<td>\n<p>-1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,796.60<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 48,208<\/p>\n<\/td>\n<td>\n<p>+3.2% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 1.6 bn (3.6% above the 90-day average). Foreign investors were net sellers. The index is up 2.8% YTD.<\/p><p><strong>In the green: <\/strong>Cleopatra Hospitals (+5.9%), Ezz Steel (+2.9%) and EKH (+1.7%).<\/p><p><strong>In the red: <\/strong>Pioneers Holding (-4%), Raya (-3.7%) and Ibnsina Pharma (-3.3%).<\/p><p><strong>Asian markets are patchy in early trading this morning<\/strong> while US shares and most European markets look set to fall when they open later today.<\/p>\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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/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=\"557400\" 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=\"557400\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/my-morning-routine-yasmina-makram-founder-of-yasmina-makram-design-studio\/\">\r\n                            My Morning Routine: Yasmina Makram, founder of Yasmina Makram design studio                        <\/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\/09\/16\/my-morning-routine-yasmina-makram-founder-of-yasmina-makram-design-studio\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Yasmina Makram Ebeid (<a href=\"https:\/\/www.instagram.com\/yasminamakram\/?hl=en\">Instagram<\/a>), founder of Yasmina Makram design studio.<\/p>\n<p><strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p><strong>My name is Yasmina Makram Ebeid, founder of an eponymous design studio based in Zamalek, Cairo.<\/strong> It was very obvious to me as a young girl that I should be doing something creative with colors, materials, drawings, textures, and definitely not something with numbers. But I got into business school only to realize that I disliked all the options that were being presented. I worked in the corporate world and found out that this was not really for me. It became clear to me that I wanted to do design and focus on interiors so my husband encouraged me to go back to design school in Milan at Instituto Maragoni.<\/p>\n<p><strong>I launched my own company in 2016:<\/strong> We focus on interiors, and we will soon be launching our product design line, and hope to develop the third segment of our business within the coming year. This would have to do with an app and digitization in general. This is still in development though. We're a team of 15; every person here really matters since we're a small team; everyone is efficient, productive, and creative.<\/p>\n<p><strong>The way my day goes about is: <\/strong>I love to wake up early in the morning at 7 am to see my twins off to school. By 8 am, I'm usually at the Gezira Club. I do an outdoors workout called On Track which is a great way to boost your day and feel energized. I went back to tennis this summer after a long time away from the court. Everything is within walking distance, which I really love. From the house, to the club, to the office all by foot.<\/p>\n<p><strong>When I go to the office I sit down with every team member to get updates on every project.<\/strong> We usually order breakfast; very often from Zooba to support local brands we love. Then I have back-to-back meetings until 4:00 PM. After that I try to catch up on industry related research. This is my creative charging time where I can produce new work. It is often hard to find time for this while running a business and managing projects but it is essential to stay up to date and continue to come up with new ideas.<\/p>\n<p><strong>I love to spend some time with my husband, the twins and Max, our dog.<\/strong> I look forward to going back home to spend time with the kids and help them with their homework. Back to school is a blessing although I never worked from home during the pandemic. I personally always have to leave the apartment to work from the office.<\/p>\n<p><strong>We never fully shut down our office during covid<\/strong> so I never experienced total lockdown. We were very cautious; distancing ourselves and applying all the rules, but I never got myself to work from home. I really need to leave the house in order to be productive. Although most of the team worked from home for a while, they really overachieved during that period, so that was nice to see.<\/p>\n<p><strong>There's a silver lining in everything that happened.<\/strong> While the pandemic forced many businesses to slow down, we were fortunate to design many residential projects. The trend was moving towards individuals investing more in their homes, in particular, secondary homes due to the many travel limitations.<\/p>\n<p><strong>As a working mom, there's no time to waste.<\/strong> So the only way I personally stay sharp is by knowing exactly what my schedule for the day looks like from the minute I wake up. You need to know exactly how your week is going to pan out. In order to stay organized and focused, I take mini breaks, because sometimes my routine gets crazy. We need to make time to unplug and to recharge. And when I say this, I mean no Instagram and no WhatsApp.<\/p>\n<p><strong>For our company, there's room for growth.<\/strong> We can always be more focused on sustainability instead of luxury, because design as a global industry is moving towards four things: sustainability, innovation, creativity and functionality. So I think we've been delivering on most of these. But there's a lot of room for improvement on sustainability in particular so we will be doing lots of research to incorporate it effectively in current and future projects.<\/p>\n<p><strong>The pandemic has taught me how perseverant I can be.<\/strong> Even if there's a global crisis, there's always a way to re-gear and rethink. How can we position ourselves now with what's happening in the world? How can we be part of this in a positive manner? I think positive. The minute you get negative, you bring yourself and the people around you down. You have to stay positive and spin the negative situations by learning from them.<\/p>\n<p><strong>My go-to books always are <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/2122.The_Fountainhead\">Ayn Rand The Fountainhead<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/662.Atlas_Shrugged\">Atlas Shrugged<\/a><\/strong><strong>.<\/strong> From a business angle, I have a friend who just recommended a book called <a href=\"https:\/\/www.goodreads.com\/en\/book\/show\/36417234-powerful\">Powerful<\/a> by the Netflix HR Patty McCord. It is about working your team efficiently through very difficult times. The one TV series that I can watch over and over again is Mad Men. I just love the set design, the characters, and the '70s in general. I\u2019ve watched it three times.<\/p>\n<p><strong>I find inspiration in cities, architecture, history, fashion, nature and art.<\/strong> Most recently, I visited the Mus\u00e9e national of artist Fernand L\u00e9ger located in Biot, France and was blown away. I found his use of color, lines and geometries to be very contemporary yet retro.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"557402\" 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\/09\/16\/your-essential-business-calendar-on-16-september-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-557402\" class=\"content-area-description single-story post-557402 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>10-17 September (Friday-Friday): <a href=\"http:\/\/cibegyptiansquashopen.net\/\">CIB Egyptian Squash Open<\/a>, Giza.<\/p>\n<p>13-21 September (Monday-Tuesday): EFG Hermes\u2019 fourth Virtual Investor Conference.<\/p>\n<p>14-30 September (Tuesday-Thursday): <a href=\"https:\/\/www.un.org\/en\/ga\/\">76th session of the UN General Assembly<\/a>, New York.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>18 September (Saturday): Expiration of <a href=\"https:\/\/www.rudaw.net\/english\/middleeast\/iraq\/19092020\">United Nations Investigative Team<\/a> to Promote Accountability for Crimes Committed by Daesh\/ISIL<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>22-25 September (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>29 September (Wednesday): <a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a> is being organized by ITIDA and the Software Engineering Competence Center in cooperation with DXC Technology, IBM Egypt and Orange Labs.<\/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>30 September (Thursday): First tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/p>\n<p>October: New legislative session begins \u2014 must be held by the first Thursday of October.<\/p>\n<p>October: Romanian President Klaus Iohannis <a href=\"https:\/\/bit.ly\/3z0gaic\">could visit Egypt<\/a> in mid this month to discuss ways to boost tourism cooperation between the two countries.<\/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>9 October (Saturday): Public schools begin 2021-2022 academic year<\/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>28 October (Thursday): Second tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/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>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>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/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>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/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>22-24 April 2022:<a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":557371,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-557370","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"adbb9706-2c45-49b6-95aa-24e6dbc95505","teaser":"","photo_url":"https:\/\/ent.news\/2021\/9\/217.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>The central bank is likely to leave interest rates unchanged when it meets today - 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\/issues\/the-central-bank-is-likely-to-leave-interest-rates-unchanged-when-it-meets-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The central bank is likely to leave interest rates unchanged when it meets today\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/the-central-bank-is-likely-to-leave-interest-rates-unchanged-when-it-meets-today\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:39:56+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/217.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\/issues\/the-central-bank-is-likely-to-leave-interest-rates-unchanged-when-it-meets-today\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-central-bank-is-likely-to-leave-interest-rates-unchanged-when-it-meets-today\/\",\"name\":\"The central bank is likely to leave interest rates unchanged when it meets today - 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