{"id":558299,"date":"2021-08-04T04:22:37","date_gmt":"2021-08-04T04:22:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=558299"},"modified":"2025-12-16T02:01:53","modified_gmt":"2025-12-16T02:01:53","slug":"subsidized-bread-to-rise-in-price-for-first-time-in-a-generation","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/","title":{"rendered":"Subsidized bread to rise in price for first time in a generation"},"content":{"rendered":"<section id=\"558301\" 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=\"558301\">\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\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-today\/\">\r\n                            THIS MORNING: You\u2019ll need a jab to go see Microsoft, Google or Facebook abroad + Egypt is in the race for two bronze medals 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\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-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\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-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\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-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: You\u2019ll need a jab to go see Microsoft, Google or Facebook abroad + Egypt is in the race for two bronze medals today&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-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\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-today\/&title=THIS MORNING: You\u2019ll need a jab to go see Microsoft, Google or Facebook abroad + Egypt is in the race for two bronze medals 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+You%E2%80%99ll+need+a+jab+to+go+see+Microsoft%2C+Google+or+Facebook+abroad+%2B+Egypt+is+in+the+race+for+two+bronze+medals+today+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fthis-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-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\/08\/04\/this-morning-youll-need-a-jab-to-go-see-microsoft-google-or-facebook-abroad-egypt-is-in-the-race-for-two-bronze-medals-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558301\" class=\"content-area-description single-story post-558301 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-covid-19 tag-el-gouna tag-enterpriseam tag-google tag-microsoft tag-sports tag-vaccines tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, ladies and gentlemen. The heat is rising again today<\/strong>, both literally and metaphorically.<\/p>\n<p><strong>Literally: <\/strong>Expect the mercury to hit at least 43\u00b0C in the capital as a heat wave rolls over the country. Our favourite weather app shows the mercury touching 44\u00b0C tomorrow \u2014 and temperatures largely above 40\u00b0C through mid-month.<\/p>\n<p><strong>Metaphorically: <\/strong>We have two hot stories for you this morning. President Abdel Fattah El Sisi is pushing forward with a plan to <strong>raise the price of subsidized bread<\/strong> for the first time in a generation and Orascom Development Egypt is dealing with an Environment Ministry claim that it has somehow <strong>damaged the environment in El Gouna<\/strong>, its flagship destination. We have more on both stories in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>THE BIG STORY ABROAD is still (you guessed it) \u2026 covid-19. Customers and staff will <\/strong><strong>need to show proof of vaccination <\/strong>to get into restaurants, gyms, entertainment venues and other indoor sites in New York City, <a href=\"https:\/\/www.reuters.com\/world\/us\/nyc-require-proof-vaccination-indoor-activities-mayor-2021-08-03\/\">Reuters<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/4bc8935c-6257-4e6a-810d-cb044f92ce46\">Financial Times<\/a> report. The requirement comes into effect next month. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-03\/delta-strain-pushes-herd-immunity-threshold-higher-virus-update?srnd=premium-europe&sref=mmeFTDW1\">Bloomberg<\/a>, meanwhile, quotes a US medical group as saying that the Delta variant means countries won\u2019t see true \u201cherd immunity\u201d until at least 80% of the population is vaccinated or has had the disease.<\/p>\n<p><strong>More and more top global companies will require their staff to be vaccinated when they <\/strong><strong>go back to working from the office in September. <\/strong><a href=\"https:\/\/www.cnbc.com\/2021\/08\/03\/microsoft-will-require-vaccines-for-us-workers-vendors-visitors.html\">Microsoft is the latest to make it official<\/a>, saying employees and anybody else coming into its offices will need to show proof they\u2019re jabbed. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93e98def-5de8-43b6-9fad-709e2220c9e3\">Google and Facebook<\/a> made similar announcements last week, following in the footsteps of <a href=\"https:\/\/www.inquirer.com\/health\/coronavirus\/chop-vaccine-requirement-coronavirus-20210729.html\">hospitals<\/a> and <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1420704924644610051\">restaurant groups<\/a>.<\/p>\n<p><strong>US politics watchers are also following the case of New York Governor Andrew Cuomo. <\/strong>President Joe Biden said Cuomo \u201cshould resign\u201d as investigators said they had \u201ccorroborated the claims of 11 women who accused Mr. Cuomo of inappropriate behavior, from suggestive comments to instances of groping.\u201d The story leads the <a href=\"https:\/\/www.wsj.com\/articles\/new-york-gov-cuomo-sexually-harassed-multiple-women-investigation-finds-11628003894\">Wall Street Journal<\/a> and <a href=\"https:\/\/www.nytimes.com\/2021\/08\/03\/nyregion\/cuomo-biden-sexual-harassment.html\">New York Times<\/a>.<\/p>\n<p><strong>MORNING MUST READS- <\/strong>For you finance nerds this morning, take your pick between Fortune\u2019s <strong><a href=\"https:\/\/fortune.com\/longform\/nasdaq-ceo-adena-friedman-interview\/\">interview with Nasdaq CEO Adena Friedman<\/a><\/strong> covering SPACs, meme stocks and a \u201cnew generation\u201d of investors and the WSJ\u2019s sit-down with SEC chief Gary Genslder, who says <strong><a href=\"https:\/\/www.wsj.com\/articles\/sec-will-police-cryptocurrencies-to-maximum-possible-extent-chair-gary-gensler-says-11628007567\">the \u201ccrypto Wild West\u201d demands stronger investor protection<\/a><\/strong> \u2014 foreshadowing stronger regulation in the US.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>HAPPENING TODAY- <\/strong>It\u2019s the final day for the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/p>\n<p><strong>HAPPENING TOMORROW- <\/strong>The Central Bank of Egypt will meet this week to review interest rates. All 12 analysts we surveyed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/597c7a82-ab0a-4b2c-a706-8bd715c974fe\">expect the central bank to leave rates on hold<\/a>, with inflation and rising global commodity prices weighing heavily on their decision.<\/p>\n<p><strong>A bit further out: <\/strong>We can expect foreign reserve figures for July next week and inflation data out on Tuesday.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong> <strong>Euromoney Conferences is organizing a two-day virtual <\/strong><strong>conference from 7-8 <\/strong><strong>September to <\/strong><strong>talk sustainable<\/strong><strong> finance and investment<\/strong>. Titled \u201cGlobalCapital Sustainable and Responsible Capital Markets Forum,\u201d the online event will <a href=\"https:\/\/www.facebook.com\/MOF.Egypt\/posts\/191868696303835\">feature on day one Vice Minister of Finance Minister Ahmed Kouchouk<\/a>, who will participate in a live panel discussion on green sovereign bonds. <a href=\"https:\/\/bit.ly\/3lpLeUO\">You can register for the webinar here<\/a>.<\/p>\n<p><strong>REMINDER- Next week will be a short workweek. <\/strong>Islamic New Year here in Egypt looks set to fall on Monday of next week (much of the rest of the Arab world will celebrate it on Tuesday). The Madbouly government is yet to confirm whether we will observe the holiday on Thursday, 12 August (which we think is most likely) or on Sunday, 8 August. No news by tomorrow afternoon means the holiday will be observed next Thursday.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of <strong>EnterprisePM:<\/strong><\/p>\n<ul>\n<li><strong>Mixed PMI in July:<\/strong> Non-oil private sector employment grew for the first time in almost two years in July but a contraction in activity worsened as demand weakened, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ffb6b2f7-0a5e-4036-8db6-772102e0057e\">IHS Markit said<\/a> yesterday.<\/li>\n<li><strong>Odin-Kasb equity fund to launch by the end of the year:<\/strong> Odin Investments and Kasb Capital are targeting a<a href=\"https:\/\/enterprise.press\/#tldr-story-03\">EGP 200 mn first close<\/a> when their new equity fund goes live later this year, a launch that has been delayed for almost a year due to negotiations with authorities.<\/li>\n<li><strong>Egypt\u2019s handball team makes history:<\/strong> Egypt\u2019s handball team is going to the Olympic semifinals for the first time in history after <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/results-men-qfnl-000200-.htm\">they beat Germany 31-26<\/a><strong>.<\/strong><\/li>\n<\/ul>\n<p><strong>TOKYO 2020 AS IT STANDS-<\/strong><\/p>\n<table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td><\/td>\n<td><strong>Country<\/strong><\/td>\n<td>?<\/td>\n<td>?<\/td>\n<td>?<\/td>\n<td><strong>Total<\/strong><\/td>\n<\/tr>\n<tr>\n<td>1<\/td>\n<td>China<\/td>\n<td><strong>32<\/strong><\/td>\n<td>21<\/td>\n<td>16<\/td>\n<td>69<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>2<\/td>\n<td>US<\/td>\n<td><strong>25<\/strong><\/td>\n<td>29<\/td>\n<td>21<\/td>\n<td>75<\/td>\n<\/tr>\n<tr>\n<td>3<\/td>\n<td>Japan<\/td>\n<td><strong>19<\/strong><\/td>\n<td>6<\/td>\n<td>11<\/td>\n<td>36<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>4<\/td>\n<td>Australia<\/td>\n<td><strong>14<\/strong><\/td>\n<td>4<\/td>\n<td>16<\/td>\n<td>34<\/td>\n<\/tr>\n<tr>\n<td>5<\/td>\n<td>ROC (Russia)<\/td>\n<td><strong>13<\/strong><\/td>\n<td>21<\/td>\n<td>18<\/td>\n<td>52<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>78<\/td>\n<td>Egypt<\/td>\n<td><strong>0<\/strong><\/td>\n<td>0<\/td>\n<td>2<\/td>\n<td>2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Egypt has two chances to snag a bronze medal today:<\/strong> Mohamed Ibrahim Kicho will compete against Russia in the Men\u2019s Greco-Roman 67 kg wrestling match, while Mohamed Metwally will face off against Germany in the Men\u2019s Greco-Roman 87 kg, with the session beginning at 12:30pm CLT.<\/p>\n<p><strong>Two Egyptian equestrians are also competing in the individual jumping final<\/strong> \u2014 Mouda Zeyada and Nayel Nassar are set to clear hurdles at noon CLT.<\/p>\n<table class=\"subscribe-button\" style=\"border-spacing: 0; border-collapse: collapse; mso-table-lspace: 0; mso-table-rspace: 0;\" border=\"0\" width=\"98%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td style=\"padding-bottom: 20px; padding-top: 20px; border-collapse: collapse; mso-table-lspace: 0; mso-table-rspace: 0;\" align=\"center\">\n<table style=\"border-spacing: 0; border-collapse: collapse; mso-table-lspace: 0; mso-table-rspace: 0;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"center\">\n<tbody>\n<tr>\n<td style=\"border-collapse: collapse; mso-table-lspace: 0; mso-table-rspace: 0;\" align=\"center\">\n<table style=\"width: 220px; border-spacing: 0; border-collapse: collapse; mso-table-lspace: 0; mso-table-rspace: 0;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"button1\" style=\"border-collapse: collapse; mso-table-lspace: 0; mso-table-rspace: 0; background-color: #299a0b; -moz-border-radius: 4px; -webkit-border-radius: 4px; border-radius: 4px; word-break: break-word; word-wrap: break-word;\" align=\"center\"><a style=\"display: block; font-family: Arial, sans-serif; font-size: 14px; color: #ffffff; font-weight: bold; line-height: 16px; text-decoration: none; text-align: center; background-color: #299a0b; background-image: none; background-repeat: repeat; background-position: top left; background-attachment: scroll; -moz-border-radius: 4px; -webkit-border-radius: 4px; border-radius: 4px; padding: 10px; border: 1px solid #299a0b;\" href=\"egypt\/en\/user\/NewsLetters\">Subscribe to Enterprise<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development as well as social infrastructure such as health and education.<\/p>\n<p><strong>In today\u2019s issue: The ring road is set to get a major EGP 7.3 bn facelift, with one of the main <\/strong><strong>changes being the introduction of a <\/strong><strong>Bus <\/strong><strong>Rapid Transit (BRT) lane<\/strong> to replace microbuses and smoothen out traffic on the highway. But how will the new BRT compare to cheap and convenient microbuses, and what could its rollout look like?<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-gouna\/\">El Gouna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microsoft\/\">microsoft<\/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\/vaccines\/\">vaccines<\/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=\"558302\" 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=\"558302\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/558302\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558302\" class=\"content-area-description single-story post-558302 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\/7\/Somabay_EnduranceFestival_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>We can't wait to see the endurance sports community back at Somabay, taking on the Supersprint, Sprint, Olympic, Youth, & Kids Races. Early-bird registration for the Somabay Endurance Festival is now open.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558303\" 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=\"558303\">\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\">SUBSIDIES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/\">\r\n                            Subsidized bread to rise in price for first time in a generation                        <\/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\/08\/04\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/\" 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 president didn\u2019t specify how much the price of a 5-piaster baladi loaf could increase by, but said that the increase would be modest. \u201cI'm not saying we make it significantly more expensive, not as much as it costs to make it, which is 65 or 60 piasters, but [higher prices] are necessary,\u201d El Sisi said. \u201cIt's unfathomable to sell 20 loaves for the price of a [single] cigarette,\u201d he added.<\/p>\n<p><strong>The removal of bread subsidies could help get a parallel plan to improve child nutrition <\/strong><strong>off the ground: <\/strong>The nationwide scheme is expected to cost EGP 7.7 bn, with a single meal served daily to each child expected to come in at between EGP 6-7, El Sisi also said yesterday (<a href=\"https:\/\/youtu.be\/jv6GA3xE4YA?t=569\">watch, runtime: 16:36<\/a>). Among the ways the government will cover the cost is through making use of potential savings from cutting bread subsidies, as well as by tapping into separate budgets allocated individually to ministries, El Sisi added.<\/p>\n<p><strong>When will the final price be announced?<\/strong> The Supply Ministry is now drafting the new price hikes in a report that will then be shipped to the Cabinet for review and approval, ministry spokesperson Ahmed Kamal said, <a href=\"https:\/\/bit.ly\/2Vsrq8j\">Al Shorouk<\/a> reports.<\/p>\n<p><strong>The increase could affect the majority of the Egyptian population: <\/strong><a href=\"https:\/\/bit.ly\/3xnRXR8\">Over 65 mn people<\/a> are part of welfare programs that allocate five loaves of bread per day to each person at less than one-tenth of what it costs to produce. Prices of other essential commodities \u2014 <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/government-raises-fuel-prices-phasing-out-remaining-fuel-subsidies\/\">including fuel<\/a> \u2014 have increased in recent years as the Sisi administration gradually lifted ruinous energy subsidies, but bread remained untouched. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypts-sisi-calls-first-bread-price-rise-decades-2021-08-03\/\">Reuters<\/a> took note of the story.<\/p>\n<p><strong>Bread subsidies have long been a controversial topic in Egyptian politics<\/strong>. \u0650\u0650\u0650A previous decision to hike the price of a loaf in 1977 prompted nationwide protests in what became known as \u201c<a href=\"https:\/\/www.cbsnews.com\/news\/egyptians-riot-in-the-streets-in-1977\/\">bread riots<\/a>.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/policy\/\">policy<\/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\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"558305\" 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=\"558305\">\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\">ENVIRONMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/el-gouna-developer-fighting-usd-34-mn-fine\/\">\r\n                            El Gouna developer fighting USD 34 mn fine                        <\/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\/08\/04\/el-gouna-developer-fighting-usd-34-mn-fine\/\" 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 company said in <a href=\"https:\/\/ent.news\/2021\/8\/%D8%A7%D9%88%D8%B1%D8%A7%D8%B3%D9%83%D9%88%D9%85-%D8%A8%D9%8A%D8%A7%D9%86-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-3-8-2021.pdf\">a bourse filing (pd<\/a><a href=\"https:\/\/ent.news\/2021\/8\/%D8%A7%D9%88%D8%B1%D8%A7%D8%B3%D9%83%D9%88%D9%85-%D8%A8%D9%8A%D8%A7%D9%86-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-3-8-2021.pdf\">f)<\/a><sup><\/sup> yesterday that it received a USD 33.9 mn compensation claim from the ministry\u2019s Environment Protection Agency (EPA) in relation to its flagship Egypt destination. The ministry reportedly claims ODE inappropriately disposed of building materials, damaging the marine environment in the process.<\/p>\n<p><strong>The problem is, ODE says it doesn\u2019t know what it\u2019s being fined for:<\/strong> The EGX-listed company, part of the Sawiris family empire, said in a statement that the EPA has not provided evidence of its claims and has not responded to the company\u2019s request for further information. ODE also says that a formal request was sent to the authority asking to be provided with technical reports or to reach a settlement on the compensation claims, which ODE says it was only informed about verbally. \u201cODE has not been given the opportunity to respond, whether technically or legally, to the allegations before the issuance of the claim,\u201d the company wrote. We spoke yesterday with a company official confirmed ODE still hasn\u2019t heard back from the authority.<\/p>\n<p><strong>Two separate letters from the EPA and ODE \u2014 copies of which were obtained by <\/strong><strong><a href=\"https:\/\/bit.ly\/3ltdpSs\">Hapi Journal<\/a><\/strong> \u2014 suggest some of the fines cover damage caused to El Gouna at the time of the<a href=\"https:\/\/enterprise.press\/hardhats\/can-egypt-ready-next-dragon-storm\/\">\u201cdragon\u201d storm<\/a>, which slammed into Egypt in March 2020. The total sum also allegedly includes an EGP 333k fine for breaching the Environment Act by failing to submit reports to the EPA on the project\u2019s environmental impact before beginning work, as well as an EGP 33k fine for breaches of other other articles of the law.<\/p>\n<p><strong>The Environment Ministry declined to comment on the issue<\/strong> yesterday when we reached out asking for more information.<\/p>\n<p><strong>ODE has a reputation for being a good steward of the environment<\/strong> and has made its destinations\u2019 natural beauty one of its primary marketing pillars. The company said yesterday that it has \u201calways been strongly committed to the environment\u201d and claims it is compliant \u201cwith all environmental laws.\u201d<\/p>\n<p><strong>ODE\u2019s shares slumped <\/strong><strong>9.3% in trading yesterday.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-gouna\/\">El Gouna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development Egypt<\/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=\"558307\" 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=\"558307\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/558307\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558307\" class=\"content-area-description single-story post-558307 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><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><\/p>\n<p class=\"web-image\"><a href=\"https:\/\/www.surveymonkey.com\/r\/PKQD79N\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/bupa-enterprise-Survey-Infographic-v7-EN-1600.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558308\" 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=\"558308\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/credit-risk-is-falling-in-the-banking-sector\/\">\r\n                            Credit risk is falling in the banking sector                        <\/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\/08\/04\/credit-risk-is-falling-in-the-banking-sector\/\" 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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Fitch had in July revised <sup><\/sup>its outlook for the banking sector from negative to stable, \u201creflecting the stable outlook on the operating environment,\u201d according to the report.<\/p>\n<p><strong>What\u2019s driving the rosier outlook? <\/strong>With a reversal in capital outflows as investor confidence returns, Egyptian banks\u2019 foreign currency liquidity improved, with foreign holdings of Egyptian treasuries increasing to USD 29 bn at the end of May from USD 10 bn in June 2020. The USD 5.2 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/533857a9-7ff6-43f3-9149-8a1380a620fe\">IMF standby loan<\/a>, as well as resilient remittances, also helped restore investor confidence, Fitch said. <strong>An increase in Egyptian banks\u2019 net foreign assets<\/strong> to USD 1.7 bn by the end of June 2021 on the back of lower liabilities was also a good indicator.<\/p>\n<p><strong>Higher foreign liabilities still pose a risk: <\/strong>In efforts to recover from the aftermath of the covid-19 sell-off from emerging markets, while maintaining credit profiles and viability ratings, more Egyptian banks had to tap international financial institutions for funding \u201cto support their FC liquidity.\u201d However, higher foreign liabilities still raise some repayment risks. \u201cBanks\u2019 debt-servicing capacity could come under renewed pressure from another wave of sell-offs by foreign investors,\u201d Fitch said.<\/p>\n<p><strong>The good news is that \u201cabout 70% of the sector\u2019s external debt is long-term and banks hold enough stocks of FC liquid assets<\/strong> against their short-term FC liabilities.\u201d While being equipped with readily-available liquidity buffers, some banks have already begun to remit their FC term loans, while directing lending to working capital financing rather than capex. Egypt\u2019s expected <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1fd134ec-624a-4402-b295-075903f03f50\">stable current account deficit<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c3a54b8-7d6d-4934-90ae-f2a117d9a507\">higher FX reserves<\/a> and an expected pick-up in tourism should also support banks\u2019 FC liquidity going forward.<\/p>\n<p><strong>Egypt\u2019s GDP is expected to grow at a 6% clip in FY2022-2023<\/strong>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/142978a6-9ebf-4bdc-b660-f47c678001ad\">up from 3%<\/a> expected in the current fiscal year, according to Fitch estimates. Recovering economic growth and higher foreign investments, buoyed by low interest rates, are expected to drive \u201clow double-digit loan growth in 2021, with an acceleration in 2022.\u201d Last year, loan growth was boosted by both <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a764f777-d28d-4b56-a96e-be8f1d69f242\">the CBE\u2019s March 2020 decision<\/a> to delay loan repayments for individuals and businesses by six months, and by initiatives to provide lending to SMEs and certain sectors at subsidized rates.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/credit-rating\/\">credit rating<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"558310\" 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=\"558310\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/\">\r\n                            Egypt isn\u2019t on the list as the US ships over 110 mn vaccines to 60 countries                        <\/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\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/\" 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\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/')\">\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\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/\">\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=Egypt isn\u2019t on the list as the US ships over 110 mn vaccines to 60 countries&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/\">\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\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/&title=Egypt isn\u2019t on the list as the US ships over 110 mn vaccines to 60 countries\">\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=Egypt+isn%E2%80%99t+on+the+list+as+the+US+ships+over+110+mn+vaccines+to+60+countries+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fegypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries%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\/08\/04\/egypt-isnt-on-the-list-as-the-us-ships-over-110-mn-vaccines-to-60-countries\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558310\" class=\"content-area-description single-story post-558310 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-joe-biden tag-us tag-vaccines 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>Egypt is not on the list of 60 countries to which the US has donated and shipped more <\/strong><strong>than 110 mn doses of covid-19 vaccines<\/strong>, according to a White House <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/08\/03\/fact-sheet-president-biden-announces-major-milestone-in-administrations-global-vaccination-efforts-more-than-100-million-u-s-covid-19-vaccine-doses-donated-and-shipped-abroad\/\">statement<\/a>. The news comes after US President Joe Biden in June promised America would be <a href=\"https:\/\/ge.usembassy.gov\/biden-u-s-will-be-arsenal-of-vaccines-for-the-world\/\">\u201cthe arsenal of vaccines for the rest of the world.\u201d<\/a> Indonesia was the top recipient at 8 mn doses, followed by Columbia and the Philippines with over 6 mn apiece. Closer to home: Sudan, Tunisia, Morocco, and Jordan all received doses from the United States.<\/p>\n<p><strong>Egypt isn\u2019t on the list<\/strong> despite the Biden administration saying in June said that <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/06\/03\/fact-sheet-biden-harris-administration-unveils-strategy-for-global-vaccine-sharing-announcing-allocation-plan-for-the-first-25-million-doses-to-be-shared-globally\/\">it would be<\/a><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/06\/03\/fact-sheet-biden-harris-administration-unveils-strategy-for-global-vaccine-sharing-announcing-allocation-plan-for-the-first-25-million-doses-to-be-shared-globally\/\">among 13 \u201cregional priority\u201d countries<\/a> who would receive 6 mn of the first 25 mn donated doses. Iraq, Yemen, the West Bank and Gaza also missed out. Another 500 mn Pfizer doses are set to be shipped from the US to 100 countries starting at the end of August though, leaving open the possibility we could still be in line for some \u2018Murican jabs.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/133733428937880\">reported<\/a><\/strong> <strong>53 new covid-19 infections yesterday<\/strong>, up from 51 the day before. Egypt has now disclosed a total of 284,415 confirmed cases of covid-19. The ministry also reported 5 new deaths, bringing the country\u2019s total death toll to 16,540.<\/p>\n<p><strong>ELSEWHERE-<\/strong> <strong>China has imposed new travel restrictions after a fresh outbreak of infections<\/strong><strong> thought to be caused by the Delta variant <\/strong>in eastern Jiangsu province spread to 15 others, the <a href=\"https:\/\/www.bbc.com\/news\/world-asia-china-58052894\">BBC<\/a> reports. The outbreak is the largest China has seen for months, and authorities have imposed a three-day lockdown on over 9 mn people and cut Beijing\u2019s travel links with areas with confirmed cases. Authorities in some provinces have even begun offering monetary rewards to encourage people to <a href=\"https:\/\/www.washingtonpost.com\/world\/asia_pacific\/china-delta-outbreak-spreading\/2021\/08\/03\/45506e96-f36b-11eb-a636-18cac59a98dc_story.html\">report<\/a> those they suspect may be infected with covid-19.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558311\" 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=\"558311\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/the-little-engine-that-could\/\">\r\n                            The little engine that could\u2026                        <\/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\/08\/04\/the-little-engine-that-could\/\" 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\/08\/04\/the-little-engine-that-could\/')\">\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\/08\/04\/the-little-engine-that-could\/\">\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=The little engine that could\u2026&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/the-little-engine-that-could\/\">\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\/08\/04\/the-little-engine-that-could\/&title=The little engine that could\u2026\">\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=The+little+engine+that+could%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fthe-little-engine-that-could%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\/08\/04\/the-little-engine-that-could\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558311\" class=\"content-area-description single-story post-558311 post type-post status-publish format-standard hentry category-transport tag-enterpriseam tag-infrastructure tag-manufacturing tag-transport 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>NERIC<\/strong> <strong>due to deliver its first locally-made locomotive in mid-2022: <\/strong>The recently set up National Egyptian Company for Railroad Industries (NERIC) will manufacture its first electric locomotive and hand it over to the Transport Ministry, by the middle of next year, Sameh Gabra, who heads East Port Said Development, a shareholder in the state-owned locomotive manufacturer, told <a href=\"https:\/\/bit.ly\/2WVoJwN\">Al Mal<\/a>. East Port Said Development owns 16% of NERIC, which was set up late last year as a joint-stock company and also counts the Sovereign Fund of Egypt, the Suez Canal Economic Zone, and others as its shareholders.<\/p>\n<p><strong>Background: <\/strong>NERIC specializes in producing and refurbing locomotives. It was established as part of a state-led bid to localize the rail industry. The Planning Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b53954d2-8ae2-4eb9-b5c3-ef082e747867\">previously said<\/a> this bid could involve investments of up to USD 10 bn over the next few years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"558312\" 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=\"558312\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/\">\r\n                            Emaar Misr net income doubles in 2Q2021                        <\/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\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/\" 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\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/')\">\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\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/\">\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=Emaar Misr net income doubles in 2Q2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/\">\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\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/&title=Emaar Misr net income doubles in 2Q2021\">\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=Emaar+Misr+net+income+doubles+in+2Q2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Femaar-misr-net-income-doubles-in-2q2021%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\/08\/04\/emaar-misr-net-income-doubles-in-2q2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558312\" class=\"content-area-description single-story post-558312 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-emaar-misr tag-enterpriseam tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Emaar Misr\u2019s net income almost doubled in 2Q2021 to EGP 801.1 mn<\/strong>, up from EGP 409 mn in the same period last year, according to the real estate developer\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/Emaar-Misr-Earnings-Q2.pdf\">latest earnings statement (pdf)<\/a>. The hike came as revenues almost tripled to reach EGP 2.24 bn, up from EGP 795.4 mn in 2Q2020. This the second consecutive quarter of strong growth by the real estate developer after it reported a 114% rise in net income and a 57% increase in revenues <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62a32b6e-6ee2-4a89-9e18-f979ed0f3fb5\">in 1Q<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emaar-misr\/\">Emaar Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/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=\"558313\" 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=\"558313\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/\">\r\n                            New advisor at the Universal Health Insurance Authority                        <\/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\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/\" 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\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/')\">\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\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/\">\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=New advisor at the Universal Health Insurance Authority&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/\">\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\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/&title=New advisor at the Universal Health Insurance Authority\">\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=New+advisor+at+the+Universal+Health+Insurance+Authority+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fnew-advisor-at-the-universal-health-insurance-authority%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\/08\/04\/new-advisor-at-the-universal-health-insurance-authority\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558313\" class=\"content-area-description single-story post-558313 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-finance-ministry tag-health tag-insurance tag-moves tag-universal-healthcare-scheme wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mai Farid<\/strong> (<a href=\"https:\/\/eg.linkedin.com\/in\/mai-farid-a985a518\">LinkedIn<\/a>) has been named <strong>an advisor to the Universal Health <\/strong><strong>Ins. Authority, <\/strong>the Finance Ministry said in <a href=\"https:\/\/bit.ly\/2TP5eEI\">a statement<\/a> yesterday. Farid has 14 years of experience at the finance ministry, where she is currently a deputy head and executive director of the ministry\u2019s economic justice unit.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/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\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/universal-healthcare-scheme\/\">universal healthcare scheme<\/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=\"558314\" 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=\"558314\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/558314\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558314\" class=\"content-area-description single-story post-558314 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\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=\"558315\" 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=\"558315\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/\">\r\n                            Egypt\u2019s handball team is going to the Olympic semifinals + higher bread prices on the horizon                        <\/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\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/\" 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\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/')\">\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\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/\">\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=Egypt\u2019s handball team is going to the Olympic semifinals + higher bread prices on the horizon&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/\">\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\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/&title=Egypt\u2019s handball team is going to the Olympic semifinals + higher bread prices on the horizon\">\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=Egypt%E2%80%99s+handball+team+is+going+to+the+Olympic+semifinals+%2B+higher+bread+prices+on+the+horizon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fegypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon%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\/08\/04\/egypts-handball-team-is-going-to-the-olympic-semifinals-higher-bread-prices-on-the-horizon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558315\" class=\"content-area-description single-story post-558315 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterpriseam tag-last-nights-talk-shows tag-sisi tag-sports tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Two main topics were vying for the talking heads\u2019 attention last night:<\/strong> Egypt\u2019s handball team\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6deb5aa2-08a6-4915-a334-2ee86e0625d3\">historic victory<\/a> taking them to the semifinals in the Olympics for the first time after their 31-26 victory over Germany \u2014 and President Abdel Fattah El Sisi\u2019s possible plans for a \u201cmodest\u201d hike in the price of a 5-piaster baladi loaf. We have the full story on the potential increase in subsidized bread prices in the news well above. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=pumsFE09phk\">watch, runtime: 11:31<\/a>) and Hadrat El Mowaten (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=iMw-12055rE\">4:45<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=nw9yufPfiec\">5:40<\/a>) are among those who took note.<\/p>\n<p><strong>Coverage of the Tokyo 2020 Olympic Games was everywhere<\/strong>, with former Egyptian Handball Federation head Hesham Nasr phoning into Channel One to laud the handball team\u2019s triumph and discuss potential plans by the state to expand local sport infrastructure (<a href=\"https:\/\/www.youtube.com\/watch?v=g2KSwd5sdQQ\">watch, runtime: 5:41<\/a>). The news got attention from Sada El Balad\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=ibI_sucji7o\">watch, runtime: 7:30<\/a>). Egypt\u2019s handball team is scheduled to meet France in the semifinals <a href=\"https:\/\/www.google.com\/url?q=https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/olympic-schedule-and-results-date%3D2021-08-05.htm&sa=D&source=editors&ust=1628035251027000&usg=AOvVaw02F0MFeNspUIODvKsDoclq\">tomorrow (Thursday) at 10am CLT<\/a>.<\/p>\n<p><strong>In preparation for the back to school season, teachers, school staff and all education-sector workers<\/strong> <strong>are next in line for covid shots<\/strong> under directives from El Sisi for their full immunization before the start of the 2021-2022 academic year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e9e6a46-d632-4770-ad25-2950b61a244b\">in October<\/a>, Masaa DMC\u2019s Ramy Radwan said (<a href=\"https:\/\/www.youtube.com\/watch?v=th0OlIJ7J1k\">watch, runtime: 1:19<\/a>) last night. On the higher education front: Al Hayah Al Youm\u2019s Lobna Assal discussed public universities\u2019 acceptance requirements, (<a href=\"https:\/\/www.youtube.com\/watch?v=asuqS-sH3vM\">watch, runtime: 23:24<\/a>), while Masaa DMC touches on the importance of vocational training in Egypt (<a href=\"https:\/\/www.youtube.com\/watch?v=IY0b9SB_EjQ\">watch, runtime: 22:30<\/a>).<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>State-owned processed foodmaker Silo Foods<\/strong>, which will help produce school meals for some 13 mn children nationwide, puts Egypt on the right track for specific self-sufficiency in some food products (Al Hayah Al Youm | <a href=\"https:\/\/www.youtube.com\/watch?v=KEh-8mW8n4A\">watch, runtime: 3:10<\/a>).<\/li>\n<li><strong>President Abdel Fattah El Sisi has directed for the launch of a national health check-up initiative for would-be mothers <\/strong>to identify possible health risks for their future children (Masaa DMC | <a href=\"https:\/\/www.youtube.com\/watch?v=DtLCZlNquCE\">watch, runtime: 2:43<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/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\/sisi\/\">Sisi<\/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\/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=\"558316\" 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 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draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 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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=\"558317\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/the-foreign-press-discovers-molokhia\/\">\r\n                            The foreign press discovers molokhia                        <\/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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/the-foreign-press-discovers-molokhia\/&title=The foreign press discovers molokhia\">\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=The+foreign+press+discovers+molokhia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fthe-foreign-press-discovers-molokhia%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\/08\/04\/the-foreign-press-discovers-molokhia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558317\" class=\"content-area-description single-story post-558317 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-metoo tag-ancient-egypt tag-climate-change tag-enterpriseam tag-gender wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>How slow is it in the foreign press? Molokhia is in the news<\/strong>, that\u2019s how slow it is:<\/p>\n<ul>\n<li><strong>The BBC is doing a deep dive on molokhia<\/strong>, the Egyptian staple that was once outlawed for its alleged aphrodisiac effect on women, but is today a childhood comfort food. (<a href=\"https:\/\/www.bbc.com\/travel\/article\/20210802-a-superfood-fit-for-a-pharaoh\">BBC<\/a>)<\/li>\n<li><strong>Did climate change contribute to the demise of Egypt\u2019s Old Kingdom? <\/strong>A period of unusually dry weather in 2200 BC caused food shortages that helped spark political turmoil in Ancient Egypt, a Yale researcher claims. (<a href=\"https:\/\/news.yale.edu\/2021\/08\/02\/forever-changes-climate-lessons-ancient-egypt\">Yale News<\/a>)<\/li>\n<li><strong>Egypt\u2019s #MeToo<\/strong>: Qawem \u2014 an app created in 2020 to help victims of [redacted] extortion \u2014 has over the past year received an alarming 250k appeals for help from Egyptian women who say their current or former partners are threatening to publish private photos of them. (<a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2P645O\">Reuters<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metoo\/\">#MeToo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gender\/\">gender<\/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=\"558318\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558319\" 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=\"558319\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/\">\r\n                            Hotelier Rotana to manage new residential developments + Bausch Health continues global debt reduction strategy                        <\/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\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/\" 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\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/')\">\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\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/\">\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=Hotelier Rotana to manage new residential developments + Bausch Health continues global debt reduction strategy&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/\">\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\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/&title=Hotelier Rotana to manage new residential developments + Bausch Health continues global debt reduction strategy\">\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=Hotelier+Rotana+to+manage+new+residential+developments+%2B+Bausch+Health+continues+global+debt+reduction+strategy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fhotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy%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\/08\/04\/hotelier-rotana-to-manage-new-residential-developments-bausch-health-continues-global-debt-reduction-strategy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558319\" class=\"content-area-description single-story post-558319 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-banque-misr tag-enterpriseam tag-pharma tag-smes tag-sukuk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The IFC will invest USD 100 mn in Egypt\u2019s first <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00d6c9a2-72c7-4dce-8957-52ce5b25c1a0\">corporate green bond offering by CIB<\/a><\/strong>, the institution announced in a <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=26548\">statement<\/a>. The bond will help CIB finance businesses looking to invest in green buildings, renewable energy, and other eco-friendly solutions, with the IFC financing its investment through the UK-IFC Market Accelerator for Green Construction. The IFC will also provide advisory support to CIB, including technical assistance. CIB\u2019s green bond is the first such offering by a corporation in Egypt.<\/p>\n<p><strong>International hotelier Rotana has signed agreements with two local real estate <\/strong><strong>firms to manage residential developments<\/strong>, it recently announced in <a href=\"https:\/\/www.rotana.com\/newsarticle\/2748\">a statement<\/a>. The Emirati firm will manage Al Marasem Development\u2019s New Cairo Lake Residence apartments, and Marina Way Lagoon\u2019s Marina Bay holiday rentals in Alamein on the North Coast.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/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=\"558320\" 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=\"558320\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/\">\r\n                            A second covid summer isn\u2019t good for EM that rely on tourism + Wall Street is loving earnings season                        <\/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\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/\" 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\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/')\">\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\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/\">\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=A second covid summer isn\u2019t good for EM that rely on tourism + Wall Street is loving earnings season&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/\">\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\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/&title=A second covid summer isn\u2019t good for EM that rely on tourism + Wall Street is loving earnings season\">\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=A+second+covid+summer+isn%E2%80%99t+good+for+EM+that+rely+on+tourism+%2B+Wall+Street+is+loving+earnings+season+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Fa-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season%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\/08\/04\/a-second-covid-summer-isnt-good-for-em-that-rely-on-tourism-wall-street-is-loving-earnings-season\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558320\" class=\"content-area-description single-story post-558320 post type-post status-publish format-standard hentry category-planet-finance tag-covid-19 tag-cryptocurrency tag-earnings tag-enterpriseam tag-financial-markets tag-nasdaq tag-planet-finance tag-sp-500 tag-sec 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-09\"><\/a> <strong>A second covid summer will hit tourism-reliant economies hard, <\/strong>with many emerging economies missing out on potential revenues as the cost of fighting the pandemic weighs on their balance sheets, the <a href=\"https:\/\/www.ft.com\/content\/ab4ad418-ad6f-4dae-a1b1-b7d05369eb3b\">Financial Times<\/a> reports. The first five months of 2021 saw international travel 85% down from its pre-covid levels, according to data from the World Tourism Organization. Smaller, less diversified economies such as the Bahamas, Maldives, and Fiji are set to feel the pinch the most, while countries such as Brazil, Mexico, and Argentina benefited from an increase in domestic tourism.<\/p><p><strong>Strong earnings reports from major firms have buoyed Wall Street stocks<\/strong>, despite continued worries over the spread of the delta variant and a regulatory crackdown in China, the <a href=\"https:\/\/www.ft.com\/content\/c3ed2723-6eaa-4d7a-9873-17953854f5e7\">Financial Times<\/a> reports. The S&amp;P 500 had its highest close in a week, while the Nasdaq saw gains of 0.6%. More than 86% of US companies have topped earnings expectations so far, with 55% of companies in Europe also performing better than expected, though the results are \u201cflattered by depressed levels in the year-ago period,\u201d UBS Wealth analysts wrote in a note.<\/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>10,726<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: -1.1%)<\/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 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/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 at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/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>11,208<\/p>\n<\/td>\n<td>\n<p>+0.46% (YTD: 28.9%)<\/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>7,433<\/p>\n<\/td>\n<td>\n<p>+0.39% (YTD: 47.3%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,795<\/p>\n<\/td>\n<td>\n<p>+0.19% (YTD: 12.2%)<\/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>4,423<\/p>\n<\/td>\n<td>\n<p>+0.82% (YTD: 17.8%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,105<\/p>\n<\/td>\n<td>\n<p>+0.34% (YTD: 10%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 72.1<\/p>\n<\/td>\n<td>\n<p>-1.08%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.03<\/p>\n<\/td>\n<td>\n<p>+2.34%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,814.1<\/p>\n<\/td>\n<td>\n<p>-0.44%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,218<\/p>\n<\/td>\n<td>\n<p>-8.9% (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 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 1.80 bn (29.8% above the 90-day average). Foreign investors were net sellers. The index is down 1.1% YTD.<\/p><p><strong>In the green: <\/strong>Ezz Steel (+3.8%), Pioneers Holding (+2.9%) and GB Auto (+2.1%).<\/p><p><strong>In the red: <\/strong>Orascom Development Egypt (-9.3%), Egyptian Resorts Company (-4.2%) and Cleopatra Hospital (-3.2%).<\/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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/nasdaq\/\">Nasdaq<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sec\/\">SEC<\/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=\"558321\" 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=\"558321\">\r\n            \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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/\">\r\n                            Iran\u2019s new president assumes office as tensions over tanker attack threaten nuclear talks                        <\/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\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/\" 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\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/')\">\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\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/\">\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=Iran\u2019s new president assumes office as tensions over tanker attack threaten nuclear talks&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/\">\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\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/&title=Iran\u2019s new president assumes office as tensions over tanker attack threaten nuclear talks\">\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=Iran%E2%80%99s+new+president+assumes+office+as+tensions+over+tanker+attack+threaten+nuclear+talks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F04%2Firans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks%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\/08\/04\/irans-new-president-assumes-office-as-tensions-over-tanker-attack-threaten-nuclear-talks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558321\" class=\"content-area-description single-story post-558321 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseam tag-iran tag-israel tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>IN DIPLOMACY- Foreign Minister Sameh Shoukry headed to Tunisia yesterday<\/strong> for a meeting with Tunisian President Kais Saied, carrying a letter from President Abdel Fattah El Sisi pledging his full support for Tunisia\u2019s \u201ctransition to stability and growth,\u201d according to <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/129746599335195\">a Foreign Ministry statement<\/a>. Saied has suspended parliament, sacked the prime minister and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d109a550-84cb-4a51-af1a-503e22dbeb1c\">axed<\/a> the finance, environment and ICT ministers.<\/p>\n<p><strong>AROUND THE REGION- Ebrahim Raisi <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/6f3e2221-77b2-4118-ba1f-fb9324469f9b\">assumed office<\/a><\/strong><strong> as Iran\u2019s new president yesterday<\/strong>, in a ceremony marking his official endorsement by Supreme Leader Ayatollah Ali Khamenei. Hardline Raisi has inherited <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2021-08-03\/welcome-to-iran-s-perfect-storm-mr-president?srnd=premium-middle-east&sref=mmeFTDW1\">some serious issues<\/a> from his more moderate predecessor Hassan Rouhani, including an economy wrecked by US sanctions, dire water and electricity shortages, and the most coronavirus-related deaths of any country in the Middle East. Then there\u2019s the attempted revival of the nuclear pact with the US, with Tehran\u2019s return to talks hanging in the balance as it continues to expand its nuclear program.<\/p>\n<p><strong>Yet more pressing for the new president is the diplomatic crisis triggered by a drone strike on an Israeli-affiliated oil tanker in the Persian Gulf last week<\/strong>, in which one British and one Romanian citizen were killed. The US and Israel followed the UK in blaming Tehran, which denied any involvement in the attack, adding further tension that has hardly helped attempts to rekindle nuclear talks.<\/p>\n<p><strong>Why hasn\u2019t China taken a more active role in the GERD dispute?<\/strong> Deep commercial ties in Egypt, Ethiopia and Sudan mean that Beijing has avoided taking a stance on the increasingly bitter fight over the future of the Nile\u2019s water, <a href=\"https:\/\/asiatimes.com\/2021\/07\/china-in-the-middle-of-nile-mega-dam-feud\/\">Asia Times<\/a> writes. Although its investments in the region hand it significant leverage to influence the negotiations, China is unlikely to risk the bns of USD it has invested in infrastructure, analysts tell the newspaper.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"558322\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/\"> \r\n                            Cairo\u2019s Ring Road isn\u2019t just getting wider \u2014 it\u2019s getting a \u201cBRT\u201d lane. Here\u2019s why that\u2019s a great idea.<\/a>\r\n                        <\/h3>\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\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/\" 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\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/')\">\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\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/\">\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=Cairo\u2019s Ring Road isn\u2019t just getting wider \u2014 it\u2019s getting a \u201cBRT\u201d lane. Here\u2019s why that\u2019s a great idea.&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/\">\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\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/&title=Cairo\u2019s Ring Road isn\u2019t just getting wider \u2014 it\u2019s getting a \u201cBRT\u201d lane. 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But so far, not much has been said or announced officially about the transition and the work needed to move us to this new system. However, by pooling information in the public domain as well as speaking to some of the parties involved, we can get an idea of what this new system will look like.<\/p>\n<p><strong>Here\u2019s what we know so far about the new system: <\/strong>A consortium of local and international firms \u2014 led by French public transport company <a href=\"https:\/\/www.transdev.com\/en\/\">Transdev<\/a> and including <a href=\"https:\/\/orascom.com\/\">Orascom Construction<\/a>, <a href=\"https:\/\/www.mwasalatmisr.com\/\">Mwasalat Misr<\/a> and <a href=\"https:\/\/www.mcv-eg.com\/\">MCV Group<\/a> \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/710bff61-3ec2-4b91-a2ae-45d6c80cc2bc\">signed an MoU<\/a> with the Transport Ministry\u2019s Land Transport Regulatory Authority (LTRA) in <a href=\"https:\/\/sis.gov.eg\/Story\/155333\/Transport-minister-witnesses-inking-of-MoU-to-establish-BRT-system-in-Egypt?lang=en-us\">May<\/a> to begin technical studies. The surveys which are currently collecting key data about high traffic areas, ridership and high density bus and microbus stops on the Ring Road are expected to wrap up by October of this year, according to a Transdev Egypt representative who spoke to us on condition of anonymity.<\/p>\n<p><strong>Pricing of transport on it seems very likely to change: <\/strong>It's not yet clear how much the project will cost or what price range we can expect fares to be offered at but given that a non-compete clause, requiring a freeze on all new contracts for public transport options on the roadway, has been articulated in the consortium\u2019s MoU with the LTRA, the Transdev representative tells us, it appears likely that traditional forms of transport on the Ring Road will have to make way for a newcomer.<\/p>\n<p><strong>What does our current transit landscape look like on the Ring Road: <\/strong>While sometimes dangerous and unreliable, microbus use in Cairo is currently an essential component of our transit infrastructure. Specific numbers are hard to come by for the Ring Road but two-thirds<sup><\/sup> of all public transit use in the Greater Cairo region relies primarily on microbus travel, Mohamed Hegazy, director<sup><\/sup> of urban transit research and consultancy firm <a href=\"https:\/\/transportforcairo.com\/\">Transport for Cairo<\/a> (TfC), tells us. \u201cMicrobuses are fast and often provide a direct service to places where formal alternatives would require an interchange,\u201d Hegazy says, which a majority of riders value over having to make multiple transit changes, he explains.<\/p>\n<p><strong>But microbuses also have a number of drawbacks that could make BRT buses a compelling alternative.<\/strong> Safety is a key factor, microbus riders surveyed by TfC said. Although a detailed breakdown for road accidents involving microbuses is scarce, <a href=\"https:\/\/censusinfo.capmas.gov.eg\/Metadata-en-v4.2\/index.php\/catalog\/407\">government figures<\/a> indicate that there were close to 10k road accidents in Egypt in 2019 and catastrophic headlines of <a href=\"https:\/\/apnews.com\/article\/transportation-egypt-cairo-nile-river-accidents-a32f9b33214b5d29255fa021c39b99ff\">microbus-involved<\/a> <a href=\"https:\/\/www.egyptindependent.com\/car-crash-on-suez-ismailia-road-kills-3-people-injures-7\/\">collisions<\/a> on roadways are <a href=\"https:\/\/egyptindependent.com\/death-toll-from-microbus-collision-in-aswan-rises-to-4\/\">frequent<\/a>. Then there\u2019s the lack of proper timetables, caused by drivers only departing once their vehicles are full.<\/p>\n<p><strong>Then there\u2019s the environmental impact: <\/strong>Microbuses primarily run on low-quality diesel fuel and are often poorly maintained. Under the new BRT system we could be looking at somewhat of a marked improvement in air quality with the new natural gas-powered buses, Hegazy said.<\/p>\n<p><strong>So how would a BRT system measure up to microbuses? It all depends on how it's rolled out.<\/strong> With what we know so far about the improved reliability of BRT buses, especially if provided a designated lane and a rigorous commitment to pre-set schedules, the new project could offer riders travel times that are \u201cas fast as traditional public transport at much higher service quality,\u201d<sup><\/sup> Hegazy says.<\/p>\n<p><strong>What is yet to be announced and will likely be one of the foremost concerns for riders is ticket pricing.<\/strong> Riders using microbuses on the Ring Road now pay between EGP 5 -15 per trip and usually get direct access to their destinations. While safety and reliability could be vastly improved under the new system we\u2019ll likely need to see a form of integrated payments between BRT buses and other forms of ancillary transit like the new Metro Line 3 or the upcoming Monorail project for the new system to achieve its maximum benefit.<\/p>\n<p><strong>What do BRT systems look like:<\/strong> In other parts of the world, like <a href=\"https:\/\/www.itdp.org\/2015\/05\/11\/itdp-brazil-survey-finds-transcarioca-brt-reduces-travel-times-cuts-costs\/\">Brazil,<\/a> <a href=\"https:\/\/www.electrive.com\/2019\/12\/18\/worlds-first-hydrogen-brt-launches-in-france\/\">France<\/a> and <a href=\"https:\/\/sustainabledevelopment.un.org\/index.php?page=view&type=99&nr=49&menu=1449\">Mexico<\/a>, where <a href=\"https:\/\/www.itdp.org\/multimedia\/what-is-brt\/\">BRT systems<\/a> have been fully developed, buses are given their own designated lanes with clear stops that often allow riders to pay fares at the station ahead of time instead of onboard buses. Platform level boarding and reliable schedules also supposedly make them a more convenient and easily accessible option for riders. Fare integration, which allows riders to use a single card across multiple modes of transit, is another crucial development associated with BRT systems globally which could also become a component of our own BRT system here in Cairo, a Transdev representative tells us.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>EBRD to finance half of the Sixth of October Dry Port:<\/strong> The European Bank for Reconstruction and Development will provide the October Dry Port Company with a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ab5eaaa-91d0-45f5-a884-103468011eaf\">USD 29.6 mn loan<\/a> to part-finance the development of the USD 60 mn <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/51830.html\">Sixth of October Dry Port<\/a>.<\/li>\n<li><strong>And it\u2019s contributing to the Abu Qir metro project, too:<\/strong> The EBRD has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f6c39b-3572-4e50-9dd7-9b1c21f444f2\">agreed to loan Egypt<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f6c39b-3572-4e50-9dd7-9b1c21f444f2\">EUR 250 mn<\/a> to fund the conversion of Alexandria\u2019s Abu Qir Railway into an underground metro.<\/li>\n<li><strong>HAC handed new wastewater treatment contract:<\/strong> Hassan Allam Construction has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26356c93-6525-469a-bf66-e647ebe9ef5e\">awarded a contract to construct a wastewater treatment plant<\/a> with a capacity of 30k cubic meters per day in Maghagha, Minya.<\/li>\n<li><strong>West Bakr wind turbines brought online<\/strong>: Lekela has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26356c93-6525-469a-bf66-e647ebe9ef5e\">linked 20 wind turbines<\/a> at its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/323f6825-1739-4d2e-b6f6-edea60694a8a\">USD 350 mn, 250-MW West Bakr project<\/a> in the Gulf of Suez to the national grid.<\/li>\n<li><strong>Ain Sokhna\u2019s livestock facility to restart this month:<\/strong> DP World Sokhna will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26356c93-6525-469a-bf66-e647ebe9ef5e\">serve<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26356c93-6525-469a-bf66-e647ebe9ef5e\">the Egyptian conglomerate Intro Group\u2019s livestock facility<\/a> in Ain Sokhna port upon its restarting under a multi-year agreement this month.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/land-transport-regulatory-authority\/\">Land Transport Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ltra\/\">LTRA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-hegazy\/\">Mohamed Hegazy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mwasalat-misr\/\">Mwasalat Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/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-for-cairo\/\">transport for cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"558324\" 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\/08\/04\/your-essential-business-calendar-on-4-august-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558324\" class=\"content-area-description single-story post-558324 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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/p>\n<p>2-4 August (Monday-Wednesday): Egypt is hosting the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>9 August (Monday): Russian flights to Sharm El Sheikh, Hurghada resume.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>September: Delegation of Russian companies to visit Russian Industrial Zone.<\/p>\n<p>3-5 September (Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>7-8 September (Tuesday-Wednesday): Euromoney Conferences will host <a href=\"https:\/\/bit.ly\/3lpLeUO\">the GlobalCapital Sustainable and Responsible Capital Markets Forum 2021<\/a>, featuring Vice Minister of Finance Minister Ahmed Kouchouk.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>October: New legislative session begins.<\/p>\n<p>1 October (Friday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>31 October - 12 November (Sunday-Friday): The 26th UN Climate Change Conference, Glasgow, UK.<\/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>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>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>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":558300,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-558299","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5ca2ad97-2a88-412a-b6f7-0d2f5c015981","teaser":"","photo_url":"https:\/\/ent.news\/2021\/8\/80.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>Subsidized bread to rise in price for first time in a generation - 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\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Subsidized bread to rise in price for first time in a generation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:01:53+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/80.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\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/\",\"name\":\"Subsidized bread to rise in price for first time in a generation - 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