{"id":558370,"date":"2021-08-08T04:37:48","date_gmt":"2021-08-08T04:37:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=558370"},"modified":"2025-12-16T02:03:28","modified_gmt":"2025-12-16T02:03:28","slug":"central-bank-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/","title":{"rendered":"Central bank leaves interest rates on hold for sixth consecutive meeting"},"content":{"rendered":"<section id=\"558372\" 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=\"558372\">\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\/08\/this-morning-russian-flights-return-tomorrow-rip-dalal-abdel-aziz\/\">\r\n                            THIS MORNING: Russian flights return tomorrow + RIP Dalal Abdel Aziz                        <\/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\/08\/this-morning-russian-flights-return-tomorrow-rip-dalal-abdel-aziz\/\" 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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You may rejoice: We officially have a four-day work <\/strong><strong>week this week<\/strong> after the cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/194449156058846\">confirmed<\/a> that the public sector will take the day off on Thursday, 12 August, to mark the Islamic New Year. The central bank and EGX are yet to make announcements.<\/p><p><strong>PSA #1- The weeklong heatwave may(?) be receding, but you\u2019re still going to want to <\/strong><strong>escape the heat in the capital city<\/strong> this coming weekend. The Egyptian Meteorological Authority said in a <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/4584844248216901\">statement<\/a> that it expects the mercury to be in the 37-39\u00b0C range this week. But our favourite weather app sees daytime highs in the 40-42\u00b0C band through the end of next week.<\/p><p><strong>PSA #2- Four of Cairo Metro Line 3 stations will be closed from today through <\/strong><strong>Wednesday<\/strong> due to construction work on the Mostorod axis, the Transport Ministry announced in a <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/132282642402134\">statement<\/a>. Qobaa, Omar Ibn Al Khattab, Hikestep, and Adly Mansour stations will all be closed.<\/p><p><strong>Former housing minister Hasaballah El Kafrawy passed away at the age of 91 on <\/strong><strong>Thursday <\/strong>after a long illness, the cabinet announced in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/194395086064253\">statement<\/a>. He was housing minister from 1977 through 1993 during the tenures of former presidents Anwar El Sadat and Hosni Mubarak and served as the governor of Damietta for a year in 1976.<\/p><p><strong>Iconic Egyptian actress Dalal Abdel Aziz passed away of complications from covid-19<\/strong>, her son-in-law, the media personality Ramy Radwan, <a href=\"https:\/\/twitter.com\/RamyRadwan\/status\/1423950129330012161\">announced<\/a> yesterday. Abdel Aziz starred in over 100 shows and dozens of popular films. Her death comes less than three months after that of her husband, famed actor Samir Ghanem, who passed away <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/935c3a7d-1466-4a0d-a34c-a9df2a9cacd8\">in late May<\/a> after fighting covid. They are survived by their daughters, actresses Donia and Amy Samir Ghanem.<\/p><p><strong>HAPPENING THIS WEEK- <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Russian flights return to the Red Sea tomorrow:<\/strong> Hurghada International Airport is due to receive tomorrow its first flight from Moscow in six years as Russia\u2019s flight ban finally comes to an end, <a href=\"https:\/\/www.youm7.com\/story\/2021\/8\/7\/%D9%88%D8%B5%D9%88%D9%84-%D8%A3%D9%88%D9%84-%D8%B1%D8%AD%D9%84%D8%A9-%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%B1%D9%88%D8%B3%D9%8A%D8%A9-%D9%84%D9%85%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D8%BA%D8%B1%D8%AF%D9%82%D8%A9-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%89-%D8%A7%D9%84%D8%A5%D8%AB%D9%86%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\/5415509\">Youm7 reports<\/a>. The flight will bring 500 Russian tourists to the Red Sea resort \u2014 and be the first of five weekly flights that will run between Hurghada and the Russian capital. Another five flights will run between Sharm El Sheikh and Moscow as of this week.<\/p><p><strong>Expect more information soon:<\/strong> Russia\u2019s air transport regulator on Friday handed permits to <a href=\"https:\/\/bit.ly\/37ooJXN\">eight Russian airlines<\/a> allowing them to resume regular flights to Hurghada and Sharm.<\/p><p><strong>EV road tests start this week:<\/strong> Uber will start road-testing DongFeng E70 electric cars in Egypt this week, <a href=\"https:\/\/bit.ly\/3fGxWiS\">Masrawy<\/a> reports. State-owned El Nasr Automotive <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90d6f7ac-fc42-4056-84d6-a14086b167f1\">has imported 13 of the vehicles<\/a> from China, which will be tested by Uber drivers over the next three months.<\/p><p><strong>El Nasr plans to begin locally assembling the E70 in a partnership with DongFeng next <\/strong><strong>year<\/strong> and hopes to have the first 100 ready by July-August 2022. The government will invest <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">EGP 450 mn<\/a> to roll out the infrastructure required to make EVs viable on Egyptian roads. Industry leader Infinity, which is working with the state on the project, is aiming to install 3k stations across the country over the next three years.<\/p><p><strong>Vaccinated non-residents of Saudi Arabia can starting tomorrow apply for a Umrah <\/strong><strong>pilgrimage visa <\/strong>as Saudi Arabia gears up for the gradual resumption of the year-round pilgrimage after more than a year and a half-long ban thanks to covid-19, Saudi state news agency <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=ar&amp;newsid=2270213#2270213\">SPA<\/a> reported.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from Thursday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>The carrot:<\/strong> Companies that register to join Egypt\u2019s Advance Cargo Information (ACI) website Nafeza in August <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0adc039f-f92b-4e9b-8e19-07e4ff2c1051\">will get 50% off registration fees<\/a>.<\/li>\n<li><strong>The stick:<\/strong> Ten more companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8f15a46-98c2-414a-a9ba-41816b2e68a9\">will be prosecuted by the Tax Authority<\/a> for failing to comply with the authority\u2019s e-invoicing system.<\/li>\n<li><strong>TDA under new management:<\/strong> The Tourism Development Authority (TDA) is being <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdb65d9f-7a06-4113-80b3-15dcdd925a3f\">placed under the purview of the Housing Ministry<\/a>, and the housing minister will be made the chairman of the board, which will now be reshuffled.<\/li>\n<\/ul><p><strong>THE BIG STORY ABROAD- No single story has captured the imagination of the western <\/strong><strong>business press <\/strong>as we start our workweek, but the <a href=\"https:\/\/www.ft.com\/content\/860e89df-d52a-413e-8107-91758484585a\">Financial Times<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/08\/07\/berkshire-hathaway-brk-earnings-q2-2021.html\">CNBC<\/a> are both leading with Warren Buffett\u2019s Berkshire Hathaway posting a jump in second-quarter profits as many of the \u201csprawling conglomerate\u2019s\u201d investments and business units benefitted from an improving economy. <strong>Also worth a glance<\/strong><strong>:<\/strong> ARK Innovation\u2019s Cathie \u201cMama Cathie\u201d Wood gets profiled in the Journal as the <a href=\"https:\/\/www.wsj.com\/articles\/cathie-wood-ark-guiding-light-meme-stock-investing-11628258307\">first \u201cguru of the meme stock generation.\u201d<\/a> Please don\u2019t get us started.<\/p><p><strong>MORNING MUST-READ- Yes, Apple is going to <\/strong><strong><a href=\"https:\/\/www.apple.com\/child-safety\/\">scan your iCloud library for kiddie<\/a><\/strong><strong><a href=\"https:\/\/www.apple.com\/child-safety\/\"><\/a><\/strong><strong><a href=\"https:\/\/www.apple.com\/child-safety\/\">[redacted]<\/a><\/strong><strong>. <\/strong>And no, you probably don\u2019t have anything to worry about right now. The <a href=\"https:\/\/www.ft.com\/content\/43c1aa97-c4e7-4301-913d-2c89cc63800d\">Financial Times<\/a> has reasonable coverage, but where you really want to head is to <a href=\"https:\/\/daringfireball.net\/2021\/08\/apple_child_safety_initiatives_slippery_slope\">John Gruber\u2019s Daring Fireball, for the most balanced (and factually accurate) take we\u2019ve read<\/a> so far.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>IT\u2019S THE FINAL DAY OF THE TOKYO OLYMPICS<\/strong>, and you can catch the closing ceremony of the Olympics at 1 pm CLT on beIN Sports.<\/p><p><strong>It was Egypt\u2019s most successful Olympics ever<\/strong>, <a href=\"https:\/\/english.ahram.org.eg\/OlympicsNews\/418586.aspx\">Ahram Online<\/a> reports, saying our six-medal finish beat the five pieces of hardware Egyptian athletes brought home in each of 1936, 1948 and 2004.<\/p><p><strong>Feryal Ashraf made history Saturday as the first Egyptian woman ever to win an Olympic <\/strong><strong>gold<\/strong>, defeating Azerbaijan\u2019s Iryna Zaretska in the women\u2019s karate \u201ckumite\u201d &gt;61kg category \u2014 and snagging Egypt its only gold of the 2020 games and our first since 2004. Ashraf is also the only Arab woman to win an Olympic gold medal this year, and the first Arab athlete of any gender to win an olympic gold in Karate. This is the first year Karate is being included as an olympic sport, at the request of Japan, and it is unlikely to continue to be a part of the competition going forward. Ashraf\u2019s victory is getting attention from the foreign press: <a href=\"https:\/\/www.reuters.com\/article\/us-olympics-2020-kte\/karate-egypts-abdelaziz-wins-gold-medal-in-womens-61kg-kumite-idUSKBN2F80D4\">Reuters<\/a> | <a href=\"https:\/\/www.bbc.com\/sport\/africa\/58128753\">BBC<\/a> | <a href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=2991558&amp;Language=en\">Kuna<\/a> | <a href=\"http:\/\/www.xinhuanet.com\/english\/2021-08\/07\/c_1310114377.htm\">Xinhua<\/a>.<\/p><p><strong>Ahmed Elgendy also staged a historic silver medal win,<\/strong> becoming the first African to win an Olympic medal in the modern pentathlon. Saturday\u2019s wins bring Egypt\u2019s medal count up to six.<\/p><p><strong>Also in Karate, Giana Farouk claimed Egypt\u2019s <\/strong><strong>fourth bronze medal<\/strong><strong> of the games<\/strong>, winning in the women\u2019s kumite 61 kg on Friday after <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/karate\/result-women-s-kumite-61kg-sfnl-000100-.htm\">losing to<\/a><a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/karate\/result-women-s-kumite-61kg-sfnl-000100-.htm\">China\u2019s Yin Xiaoyan<\/a> in the semi-final.<\/p><p><strong>Giana Farouk will be Egypt\u2019s flag bearer at the closing ceremony today<\/strong>, having been selected days ago, before Feryal Ashraf or Ahmed Elgendy\u2019s victories.<\/p><p><strong>Egypt lost out on a bronze medal in the men\u2019s handball event<\/strong> after <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/results-men-fnl-000200-.htm\">narrowly losing 33--31<\/a><a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/results-men-fnl-000200-.htm\">to Spain<\/a> in the third place play-off. This came after the team <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/results-men-sfnl-000100-.htm\">suffered a 27-23 loss<\/a> to France in the semi-final on Thursday. France won gold after defeating Denmark 25-23.<\/p><p><strong>Equestrian:<\/strong> Egypt came <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/equestrian\/results-jumping-team-qual-000100-.htm\">11th in the team jumping qualifier<\/a>, with an impressive performance that left them just one spot short of earning a place in the finals.<\/p><p><strong>AS IT STANDS-<\/strong><\/p><table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td> <\/td>\n<td>\n<p><strong>Country<\/strong><\/p>\n<\/td>\n<td>\n<p>?<\/p>\n<\/td>\n<td>\n<p>?<\/p>\n<\/td>\n<td>\n<p>?<\/p>\n<\/td>\n<td>\n<p><strong>Total<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>China<\/p>\n<\/td>\n<td>\n<p><strong>38<\/strong><\/p>\n<\/td>\n<td>\n<p>31<\/p>\n<\/td>\n<td>\n<p>18<\/p>\n<\/td>\n<td>\n<p>87<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>2<\/p>\n<\/td>\n<td>\n<p>US<\/p>\n<\/td>\n<td>\n<p><strong>37<\/strong><\/p>\n<\/td>\n<td>\n<p>39<\/p>\n<\/td>\n<td>\n<p>33<\/p>\n<\/td>\n<td>\n<p>108<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>3<\/p>\n<\/td>\n<td>\n<p>Japan<\/p>\n<\/td>\n<td>\n<p><strong>27<\/strong><\/p>\n<\/td>\n<td>\n<p>13<\/p>\n<\/td>\n<td>\n<p>17<\/p>\n<\/td>\n<td>\n<p>56<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>4<\/p>\n<\/td>\n<td>\n<p>UK<\/p>\n<\/td>\n<td>\n<p><strong>21<\/strong><\/p>\n<\/td>\n<td>\n<p>21<\/p>\n<\/td>\n<td>\n<p>22<\/p>\n<\/td>\n<td>\n<p>64<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>5<\/p>\n<\/td>\n<td>\n<p>ROC<\/p>\n<\/td>\n<td>\n<p><strong>20<\/strong><\/p>\n<\/td>\n<td>\n<p>27<\/p>\n<\/td>\n<td>\n<p>23<\/p>\n<\/td>\n<td>\n<p>69<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p>53<\/p>\n<\/td>\n<td>\n<p>Egypt<\/p>\n<\/td>\n<td>\n<p><strong>1<\/strong><\/p>\n<\/td>\n<td>\n<p>1<\/p>\n<\/td>\n<td>\n<p>4<\/p>\n<\/td>\n<td>\n<p>6<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dongfeng\/\">Dongfeng<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span 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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                            \"\r\n            id=\"558373\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/558373\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558373\" class=\"content-area-description single-story post-558373 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\/8\/SOMA-ENTERPRISE-PROME-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558374\" 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=\"558374\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/cbe-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\">\r\n                            CBE leaves interest rates on hold for sixth consecutive meeting                        <\/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\/08\/cbe-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\" 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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              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\/08\/cbe-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/110.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"558375\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/cbe-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/110-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/110.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"110.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/110.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/110.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558374\" class=\"content-area-description single-story post-558374 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-carry-trade tag-economy tag-enterpriseam tag-inflation tag-interest-rates tag-mohamed-maait tag-monetary-policy tag-treasuries wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>The Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) left interest <\/strong><strong>rates <\/strong><strong>unchanged for a sixth consecutive meeting<\/strong> on Thursday as policymakers look to preempt rising inflation and maintain Egypt\u2019s high real interest rate. Overnight deposit and lending rates were kept unchanged at 8.25% and 9.25%, respectively, while the main operation and discount rates remained at 8.75%, the central bank said in a <a href=\"https:\/\/ent.news\/2021\/8\/MPC-Press-release-5-August-2021.pdf\">statement (<\/a><a href=\"https:\/\/ent.news\/2021\/8\/MPC-Press-release-5-August-2021.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/8\/MPC-Press-release-5-August-2021.pdf\">)<\/a> after the meeting.<\/p>\n<p><strong>The hold was forecast by all <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/597c7a82-ab0a-4b2c-a706-8bd715c974fe\">12 analysts and economists<\/a><\/strong><strong> we surveyed before the meeting<\/strong>, who said that the central bank would leave rates unchanged to keep inflationary pressure in check amid rising global commodity prices. It will also ensure Egypt\u2019s carry trade remains one of the most attractive in the world, helping bolster our stock of foreign currency.<\/p>\n<p><strong>The decision is \u201cconsistent with\u201d its inflation target of 7% (\u00b12%) on average by 4Q2022<\/strong> and stability of local prices in the medium term, the statement added.<\/p>\n<p><strong>Egypt\u2019s economy is still supported by \u201cthe positive contributions of trade, construction, and communications, as well as natural gas extractions,\u201d<\/strong> with leading indicators showing \u201ca sustained improvement across most sectors,\u201d the central bank said. Meanwhile, global economic conditions are likely to continue to be \u201caccommodative and supportive of economic activity over the medium term,\u201d yet this is subject to \u201cthe efficacy of vaccines and the ability of countries to contain the spread of the virus, in light of the emergence of newer variants.\u201d<\/p>\n<p><strong>Local prices have been muted so far despite a surge in global commodity prices:<\/strong> Annual headline inflation rose only slightly to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbe1f778-c531-4f1d-869e-7bc2c2b06833\">4.9%<\/a> in June from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a19da710-1330-415c-8993-290f63133dcb\">4.8%<\/a> the previous month due to an unfavorable base effect and an uptick in domestic food prices. The headline rate has remained below the lower bound of the CBE\u2019s target rate throughout 2021, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2132ef4-bbe3-4fbf-adbe-0033fb050730\">rising only<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2132ef4-bbe3-4fbf-adbe-0033fb050730\">60<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2132ef4-bbe3-4fbf-adbe-0033fb050730\">bps<\/a> since January.<\/p>\n<p><strong>But inflationary pressures are on the horizon<\/strong>: The summer will see a rise in inflation, which Pharos\u2019 head of research Radwa El Swaify believes will average 5.5-6.5% in July and August. Price growth will likely be driven by higher <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8524ce4-c8d0-4b1d-b450-a125c9879398\">electricity<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f40e85f-6132-4035-a552-9b35ce8f655e\">cigarette prices<\/a> which came in on 1 July, as well as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf297186-02db-44bd-9f47-ac1b4e8b9a52\">higher costs of fuel<\/a>, she tells us. Higher global commodity prices are also likely to put its toll on local inflation, she adds.<\/p>\n<p><strong>Then there\u2019s the base effect: <\/strong>\u201cAnnual inflation readings are expected to continue to be affected by unfavorable base effects in the near term,\u201d the central bank said. Inflation came in at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55dfb38b-b3e4-4641-ba16-43c9425307a9\">4.2% in July 2020<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6d5bc25-216b-4cc9-9246-92eefbcacd4c\">3.4% in August<\/a>.<\/p>\n<p><strong>Egypt has one of the highest real interest rates in the world<\/strong>, which has helped the country to see a rebound in portfolio flows since May 2020. Foreign holdings hit <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-02\/foreign-holdings-in-egypt-s-debt-hit-record-shrugging-off-virus?sref=mmeFTDW1\">a record high<\/a> in February less than a year after investors trimmed their holdings of Egyptian bonds during a covid-inspired sell-off from global emerging markets.<\/p>\n<p><strong>Many other emerging markets are aggressively tightening in response to rising inflation: <\/strong>Russia, Mexico and Chile have all raised interest rates, while on Thursday Brazil went ahead with <a href=\"https:\/\/www.ft.com\/content\/60ee951a-aa9a-45cb-845a-b935ad3c86b9\">a 100-bps rate hike<\/a>, its biggest since 2003.<\/p>\n<p><strong>This shouldn\u2019t affect Egypt just yet:<\/strong> Egypt is still offering attractive value due to its low risk and high return compared to other emerging markets, especially Brazil, El Swaify says.<\/p>\n<p><strong>Foreign holdings steady:<\/strong> Foreign investment in Egyptian government debt currently stands at USD 28 bn, Finance Minister Mohamed Maait told <a href=\"https:\/\/bit.ly\/3yweJI6\">Al Arabiya<\/a> in a televised interview on Thursday. This is little changed from May, when the minister said total holdings amounted to USD 28-29 bn, and February when inflows hit a record USD 28.5 bn.<\/p>\n<p><strong>And the gov\u2019t is predicting more inflows later this year:<\/strong> The government is expecting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/140b7bfd-70e5-4cbe-9774-f087dcd5d641\">USD 3-4 bn in additional foreign inflows<\/a> during the second half of 2021. JPMorgan is expected to re-include Egypt in its emerging-market sovereign bond index later this year, while Euroclear could begin clearing EGP-denominated debt, making it easier for foreign investors to enter the local debt market.<\/p>\n<p><strong>Looking forward<\/strong>: Analysts are divided on whether the CBE will deliver cuts this year, with Arqaam Capital analyst Noaman Khalid seeing a \"window for a rate cut toward the end of the year as tourism kicks off strongly offering a key alternative to current debt inflows. However, Prime Holdings\u2019 Mona Bedeir and Renaissance Capital expect the CBE to pause making further cuts for the rest of the year. For 2022, most market watchers widely <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f456c5c-ed19-4468-bccf-817c0fa49938\">expect the CBE to resume its easing cycle<\/a> if inflation remains below the CBE\u2019s target range.<\/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\/carry-trade\/\">carry trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/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=\"558376\" 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=\"558376\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/jj-jabs-land-today\/\">\r\n                            J&#038;J jabs land 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\/08\/jj-jabs-land-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(); 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The African Union is providing us with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5b6b112-2359-4d77-8e56-ef78298a3eba\">25 mn doses<\/a> of the single-shot vaccine while the government reportedly placed an order directly with the company earlier this year for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">4 mn doses<\/a>, though these are not expected to arrive until the fourth quarter.<\/p>\n<p><strong>Remember though: The<\/strong><strong>se shots are not exclusively for travelers. <\/strong>Though the ministry suggested <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7539cf3-b34c-4072-9bf1-38ef22c91e82\">just last month<\/a> that J&J jabs would be allocated specifically to people wanting to travel, a member of the government\u2019s covid-19 committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/074b2004-482e-43ca-a435-c404a1118a8f\">told us last week<\/a> that they will be distributed to the general public and not reserved for travellers.<\/p>\n<p><strong>We\u2019re also due to receive the final 1.9 mn doses of Oxford \/ AstraZeneca<\/strong> allocated under the Gavi \/ Covax program this week. Both shipments have been delayed several times, and were most recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5cd6ac94-a5e1-4ce0-acfe-09a1e3023036\">due to arrive in July<\/a>, with the J&J batch coming through the African Union.<\/p>\n<p><strong>Egypt yesterday received a 175k <\/strong><strong>jab shipment of Russia\u2019s Sputnik V vaccine<\/strong>, samples of which were sent to the Egyptian Drug Authority\u2019s (EDA) labs for analysis ahead of their distribution to vaccination centers nationwide, unnamed senior health officials told <a href=\"https:\/\/bit.ly\/3AnDuXy\">Youm7<\/a>. Egypt had received its first 210k batch of Sputnik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/492c03ce-0650-4178-9fd9-535fd97cefb2\">in June<\/a> under an agreement with Russia to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">deliver 10 mn jabs<\/a>.<\/p>\n<p><strong>GOOD NEWS FOR TRAVELERS- Unvaccinated travelers should be able to receive their first shots within 72 hours of <\/strong><strong>registering for a jab<\/strong>, state vaccine-maker Vacsera\u2019s boss Moustafa Mohamady told <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2392130\">Al Masry Al Youm<\/a>. If you\u2019re planning non-essential international travel to any country mandating vaccination for entry and haven\u2019t had your first dose, you can fast-track your turn for a covid-19 vaccination appointment by ticking the \u201ctraveller\u201d box when registering online through the Health Ministry\u2019s <a href=\"https:\/\/egcovac.mohp.gov.eg\/#\/registration\">website<\/a>.<\/p>\n<p><strong>You should be given a vaccine appointment date within three days of registering at one <\/strong><strong>of <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1e34ad9-6773-466f-8299-8ae3246409f6\">the 126 dedicated centers<\/a><\/strong><strong> nationwide<\/strong>, where vaccinated individuals can also issue official, QR-code bearing vaccination certificates for EGP 100 for Egyptian citizens, and USD 10 for non-Egyptians. The ministry is also working on an Egypt Health Passport app that will allow individuals to display their vaccination status on their mobile phones.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/135016905476199\">reported<\/a><\/strong><strong> 61 new covid-19 infections yesterday<\/strong>, up from 57 the day before. Egypt has now disclosed a total of 284,641 confirmed cases of covid-19. The ministry also reported 4 new deaths, bringing the country\u2019s total death toll to 16,566.<\/p>\n<p><strong>We\u2019ve seen the case count rise steadily for the past 12 days now:<\/strong> According to our in-house covid tracker, the number of new reported covid-19 infections has been inching up since 27 July, with the exception of a brief drop on 5 August.<\/p>\n<p><strong>It just got even more expensive for UK tourists to visit Egypt:<\/strong> The UK government has hiked quarantine fees for people entering the country from \u201cred list\u201d countries in a bid to deter travelers to countries where the UK government believes there is a high risk of infection From 12 August, it will now cost a single adult coming from Egypt and other countries on the UK\u2019s \u201cred list\u201d GBP 2,285 to stay in quarantine in a government mandated hotel for 10 days, up from GBP 1,750 previously. The fee for additional adults will more than double to GBP 1,430.<\/p>\n<table class=\"subscribe-button\" width=\"98%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tr>\n<td align=\"center\" style=\"padding-bottom:20px;padding-top:20px;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<table border=\"0\" align=\"center\" cellpadding=\"0\" cellspacing=\"0\" style=\"border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tbody>\n<tr>\n<td align=\"center\" style=\"border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:220px;border-spacing:0;border-collapse:collapse;mso-table-lspace:0;mso-table-rspace:0;\">\n<tr>\n<td align=\"center\" 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;\"> <a href=\"https:\/\/enterprise.press\/subscribe\/\" style=\"display:block;border-width:1px;padding-top:10px;padding-bottom:10px;padding-right:10px;padding-left:10px;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;border-style:solid;border-color:#299a0b;-moz-border-radius:4px;-webkit-border-radius:4px;border-radius:4px;\">Subscribe to Enterprise<\/a> <\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/johnson-johnson\/\">Johnson &amp; Johnson<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senegal\/\">Senegal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558378\" 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=\"558378\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/558378\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558378\" class=\"content-area-description single-story post-558378 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\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\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=\"558379\" 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=\"558379\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/\">\r\n                            SFE to launch education sub-fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SFE to launch education sub-fund&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/&title=SFE to launch education sub-fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SFE+to+launch+education+sub-fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F08%2Fsfe-to-launch-education-sub-fund%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/112.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"558380\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/sfe-to-launch-education-sub-fund\/112-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558379\" class=\"content-area-description single-story post-558379 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-enterpriseam tag-investment-watch tag-lighthouse-education tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>The Sovereign Fund of Egypt (SFE) will soon launch a new sub-fund to invest <\/strong><strong>in the education industry<\/strong>, CEO Ayman Soliman told <a href=\"https:\/\/bit.ly\/3jBzjkd\">Youm7<\/a>. The fund plans to finance the construction of hundreds of schools across the country targeted at middle-class families, he said, stopping short of giving a target value for the fund.<\/p>\n<p><strong>The SFE made its first commitment in the sector <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f322b811-078e-4543-b1d1-47696be7f5f3\">in<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f322b811-078e-4543-b1d1-47696be7f5f3\">March<\/a><\/strong><strong>, <\/strong>committing EGP 250 mn to the EFG Hermes Education Fund. It also agreed last month to <a href=\"https:\/\/enterprise.press\/blackboards\/lighthouse-education-takes-off-big-plans-sector\/\">invest in a new education investment platform<\/a> dubbed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8298555-2c1a-4220-a384-e1e6f7eff7e4\">Lighthouse Education<\/a>, which plans to channel EGP 1.75 bn into <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/172347934935635\">10-12 private K-12 education schools<\/a>.<\/p>\n<p><strong>There\u2019s more where that came from:<\/strong> Soliman said the fund will soon announce four new partnerships in the education field that will help build the schools, as well as new universities.<\/p>\n<p><strong>This will be the SFE\u2019s fifth sub-fund: <\/strong>The SFE already has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13d69470-44e2-4702-9441-3421aefe4fa3\">four sub-funds<\/a> covering healthcare, financial services, tourism and real estate, and infrastructure.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lighthouse-education\/\">Lighthouse Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558381\" 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=\"558381\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/inching-closer-to-a-new-customs-system\/\">\r\n                            Inching closer to a new customs system                        <\/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\/08\/inching-closer-to-a-new-customs-system\/\" 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\/08\/inching-closer-to-a-new-customs-system\/')\">\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\/08\/inching-closer-to-a-new-customs-system\/\">\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=Inching closer to a new customs system&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/inching-closer-to-a-new-customs-system\/\">\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\/08\/inching-closer-to-a-new-customs-system\/&title=Inching closer to a new customs system\">\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=Inching+closer+to+a+new+customs+system+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F08%2Finching-closer-to-a-new-customs-system%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\/08\/inching-closer-to-a-new-customs-system\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/113.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"558382\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/inching-closer-to-a-new-customs-system\/113-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/113.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"113.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/113.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/113.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558381\" class=\"content-area-description single-story post-558381 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-customs-act tag-digitization tag-enterpriseam tag-logistics tag-nafeza tag-regulation-watch 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>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d9f9d03-b89e-4f70-b83b-60a0b0199a89\">final draft of the exec regs of the Customs Act\u2019s<\/a><\/strong> <strong>is now in the hands of the S<\/strong><strong>tate <\/strong><strong>Council<\/strong><strong> (Maglis El Dawla) <\/strong>for review and approval after they were redrafted to incorporate proposed amendments and requests from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d24cf14-6965-4a4d-8843-2f76e12851a6\">the last round of public consultations in April<\/a>, Minister Mohamed Maait said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/195762095927552\">a statement<\/a> yesterday. The new regs detail how the Customs Authority\u2019s new Advance Cargo Information (ACI) pre-registration system (also known as <a href=\"https:\/\/www.nafeza.gov.eg\/en\">Nafeza<\/a>) will work. They also outline instructions for businesses importing goods at ports on accessing and using the platform to file and pay all types of shipping dues, as well as filing shipping documents and cargo data digitally ahead of arrival.<\/p>\n<p><strong>The final draft also includes breaks for tourists and Egyptians returning from abroad, <\/strong>who will now be allowed to bring in EGP 10k worth of goods from abroad without customs duties, up from a previous limit of EGP 1.5k, according to the statement yesterday.<\/p>\n<p><strong>BACKGROUND-<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">recently-approved law<\/a>, which aims to expedite customs clearance, expand the powers of customs clearance agents, and ratchet up penalties for customs evasion, has been met with pushback from exporters, shipping agencies and customs brokers since it came into effect late last year. Their grumblings led the Finance Ministry to make minor concessions to the exec regs twice <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f5511e2-50db-4cad-b475-06daefb7032e\">in February<\/a> and November, including on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f369f7a0-4646-4239-b23f-8e2b291d1f63\">ins. Requirements<\/a>.<\/p>\n<p><strong>We have <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff816b7c-7eaf-4b1f-ac4c-be6ec4df8325\">a bulleted rundown on the new Customs Act here<\/a><\/strong> if you need to get up to speed.<\/p>\n<p><strong>Key highlights:<\/strong> The new draft would allow importers to pay customs in chunks over six-12 months, depending on how established their business is, and would cut inspection fees for larger containers to EGP 800 from EGP 1k for exports, and to EGP 200 from EGP 400 for imports. Shippers would also be allowed to move goods out of Egypt without submitting waybills on the spot and could instead hand over the documentation 48 hours after the goods leave the country. Importers will be required to pay <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23ce3324-7d36-4ea4-8a81-eb03ca7592dc\">30% of dues in advance<\/a> through the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db89f9d3-7845-43d9-bb0a-35d9132a4b9f\">Nafeza digital customs system<\/a> before cargo arrives at Egyptian ports and will be entitled to a refund in the event that their shipment is banned from entry or disposed of. <a href=\"https:\/\/ent.news\/2021\/3\/Customs-Act-exec-regs.pdf\">You can read the regulations in full here (pdf)<\/a>.<\/p>\n<p><strong>Nafeza will officially come online on 1 October<\/strong> \u2014 a deadline by which anyone who has not registered on the digital platform won\u2019t be allowed to release imported goods out of customs at seaports. Authorities have been piloting the new ACI system \u2014 a World Customs Organization (WCO) protocol that runs on blockchain technology, designed to speed up customs procedures and improve border security \u2014 since April, and had originally planned to make it compulsory at all seaports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">in July<\/a>, before making it mandatory at other ports of entry at a later stage. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">Here\u2019s a breakdown of all you need to know on how to prepare for the new ACI system<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-act\/\">Customs Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nafeza\/\">Nafeza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558383\" 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=\"558383\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/tamweel-eyes-debt-market\/\">\r\n                            Tamweel eyes debt market                        <\/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\/08\/tamweel-eyes-debt-market\/\" 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\/08\/tamweel-eyes-debt-market\/')\">\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\/08\/tamweel-eyes-debt-market\/\">\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=Tamweel eyes debt market&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/tamweel-eyes-debt-market\/\">\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\/08\/tamweel-eyes-debt-market\/&title=Tamweel eyes debt market\">\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=Tamweel+eyes+debt+market+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F08%2Ftamweel-eyes-debt-market%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\/08\/tamweel-eyes-debt-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558383\" class=\"content-area-description single-story post-558383 post type-post status-publish format-standard hentry category-debt-watch tag-b-investments tag-cib tag-debt tag-debt-watch tag-ebtikar tag-enterpriseam tag-securitization 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>A banking syndicate led by CIB is gearing up to take to market securitized bonds <\/strong><strong>worth EGP 1.1 bn for Tamweel Holdings<\/strong>, <a href=\"https:\/\/bit.ly\/3lJaRQf\">Al Shorouk<\/a> reports, citing unnamed sources with direct knowledge of the transaction. The mortgage and consumer finance company is mulling two issuances of securitized bonds for its real estate and financial leasing arms, each of which is worth EGP 550 mn, the sources said, without specifying an estimated timeframe for the issuances.<\/p>\n<p><strong>Tamweel is owned by Ebtikar<\/strong>, which had transferred the former company's shares to a new parent company earlier this year as part of plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/914d20b0-46d1-4bb2-baea-2a99caf0a815\">spin off<\/a> businesses unrelated to e-payments ahead of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\">planned IPO in 4Q2021<\/a>.<\/p>\n<p><strong>OTHER DEBT NEWS-<\/strong> <strong>Real estate company Qatari Diar\u2019s subsidiary East Gate <\/strong><strong>developments has obtained regulatory approval to borrow EGP 12 bn <\/strong>from an unnamed Egyptian state-owned bank, sources in the know told <a href=\"https:\/\/bit.ly\/3jrIJhO\">Al Shorouk<\/a>. East Gate will use the facility to finance its East Cairo real estate project <a href=\"http:\/\/www.qataridiar.com\/English\/OurProjects\/Pages\/City-Gate.aspx\">CityGate<\/a>.The company has completed payment of some EGP 530 mn to the government for the land and can now use it as collateral for the loan, the sources said.<\/p>\n<p><strong>Qatari Diar recently resumed work on its CityGate project <\/strong>after the New Urban Communities Authority (NUCA) approved its license to continue work on the project <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f383cef8-f700-4ac4-9895-8136b783030b\">earlier this year<\/a> following <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7861345f-c750-41d3-81a9-fbc6bdbaa1aa\">a four-year dispute<\/a> over the developer allegedly changing the terms of the contract by selling stakes in the project to other shareholders without permission from the regulator. NUCA had demanded an EGP 1.3 bn fees and fines. The case was overturned when the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a4b0f86-ff0b-4439-9d8d-57d68573f4a4\">administrative court ruled<\/a> that mergers or acquisitions between real estate joint stock companies have no legal bearing on these companies\u2019 legal status.<\/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\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebtikar\/\">Ebtikar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"558384\" 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=\"558384\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/558384\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558384\" class=\"content-area-description single-story post-558384 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-Sea-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558385\" 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=\"558385\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/egypts-karate-gold-and-dalal-abdel-azizs-passing-dominate-the-airwaves\/\">\r\n                            Egypt\u2019s Karate gold and Dalal Abdel Aziz\u2019s passing dominate the airwaves                        <\/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\/08\/egypts-karate-gold-and-dalal-abdel-azizs-passing-dominate-the-airwaves\/\" 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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Talkshows also took stock of the death of prolific and much-loved actress Dalal Abdel Aziz, who died of complications from covid-19 (watch, runtime <a href=\"https:\/\/www.youtube.com\/watch?v=7ESOhSGsP-A\">2:07<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=471QR-s8B94\">2:24<\/a>). We have more on both stories above in this morning\u2019s What We\u2019re Tracking Today.<\/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\/feryal-ashraf\/\">Feryal Ashraf<\/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\/sports\/\">sports<\/a>\n              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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 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button 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         class=\"\r\n                story-section            \"\r\n            id=\"558387\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/human-rights-once-again-leads-the-conversation-in-the-foreign-press-on-8-august-2021\/\">\r\n                            Human rights once again leads the conversation in the foreign press on 8 August 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- 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               <\/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\/08\/human-rights-once-again-leads-the-conversation-in-the-foreign-press-on-8-august-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558387\" class=\"content-area-description single-story post-558387 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-amnesty-international tag-biden-administration tag-enterpriseam tag-human-rights tag-literature tag-national-security tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Washington Post editorial board has <\/strong><strong><a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/08\/04\/is-biden-serious-about-fighting-democracy-egypt-will-be-decisive-test\/\">called<\/a><\/strong><strong> on the Biden administration to partially <\/strong><strong>withhold US military aid to Egypt<\/strong> on human rights grounds. US Secretary of State Anthony Blinken will decide in the next few weeks whether to suspend USD 300 mn of the USD 1.3 bn in military aid annually given to Egypt. Meanwhile, <strong>the Wall Street Journal <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/alaa-al-aswany-11628268107\">interviewed<\/a><\/strong><strong> novelist Alaa Al Aswany<\/strong> on his new book, The Republic of False Truths, set during and in the aftermath of the 2011 revolution.<\/p>\n<p><strong>Egypt\u2019s record on human rights came under scrutiny in the foreign press<\/strong> over the weekend, as <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2021\/08\/egypt-investigate-evidence-of-extrajudicial-executions-by-egyptian-army-in-north-sinai\/\">Amnesty International<\/a> called on Egypt\u2019s public prosecutor to investigate potential extrajudicial executions by the Egyptian armed forces. Amnesty\u2019s statement came <a href=\"https:\/\/www.amnesty.org.uk\/press-releases\/egypt-deeply-disturbing-propaganda-video-shows-military-killings\">in response to a graphic video released<\/a> by the military spokesperson last week, announcing the killing of 89 terrorists during operations in North Sinai. Amnesty\u2019s statement was picked up by <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-4ae190a13cc8e5b614df20b27bbeaff6\">the Associated Press<\/a>.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Bread price hike met reax:<\/strong> Some of the country\u2019s poorest are responding with worry to President Abdel Fattah El-Sisi\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cff5080b-b5e6-4d57-8920-c15466348892\">announcement<\/a> that the price of subsidized loaves will rise for the first time in 44 years. (<a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2PC7G6\">Reuters<\/a>)<\/li>\n<li><strong>Remains of ancient warship, Greek cemetery found in sunken city off the <\/strong><strong>coast of Alexandria:<\/strong> Divers made the rare discoveries as part of an Egyptian-French archaeological mission in the underwater city of Th\u00f4nis-Heracleion, once Egypt\u2019s largest Mediterranean port, which was rediscovered in 2001. (<a href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-finds-ancient-military-vessel-greek-graves-sunken-city-2021-07-19\/\">Reuters<\/a>)<\/li>\n<li><strong>An Egypt-based designer is bringing back the ancient Egyptian batik art <\/strong>\u2014 a form of hand-made painting in which the fabric is printed with wax before being dyed. (<a href=\"http:\/\/u.afp.com\/UDFo\">AFP<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amnesty-international\/\">Amnesty International<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/biden-administration\/\">Biden administration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/literature\/\">literature<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558388\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558389\" 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=\"558389\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/a-more-diverse-nasdaq-and-a-sooner-than-expected-fed-hike\/\">\r\n                            A more diverse Nasdaq and a sooner-than-expected Fed hike?                        <\/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\/08\/a-more-diverse-nasdaq-and-a-sooner-than-expected-fed-hike\/\" 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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Last September, the central bank pledged to maintain ultra-low interest rates until the economy reaches near maximum employment and inflation \u201cmoderately exceeds\u201d 2% for \u201csome time,\u201d two targets Clarida expects to be met by the end of 2022.<\/p><p><strong>We could soon see more diverse boards for Nasdaq-listed companies <\/strong>after the US\u2019 Securities and Exchange Commission <a href=\"https:\/\/www.sec.gov\/news\/public-statement\/gensler-statement-nasdaq-proposal-disclosure-board-diversity-080621\">gave the all-clear<\/a> for the exchange operator\u2019s plan to include gender, race and orientation in its listing rules. Under the proposal, Nasdaq would require its companies to have at least one or two \u201cdiverse\u201d board members, including one woman and one member of an \"underrepresented\" minority group, or explain in writing why they do not. A company that does not want to meet diversity objectives nor explain why \u201cmay transfer its listing to a competing listing exchange,\u201d though the proposal also provides flexibility and time for businesses to explain themselves, the SEC says. <a href=\"https:\/\/www.ft.com\/content\/37f19ed5-148d-492a-a966-999ba1460fca\">The Financial Times<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-06\/nasdaq-wins-sec-s-support-for-plan-to-diversify-company-boards?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> also have the story.<\/p><p><strong>Aramco may have to hike its USD 75 bn dividend \u2014 already the highest in the <\/strong><strong>world \u2014 to keep up with competitors<\/strong>, Bank of America Analysts said in a research note seen by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-06\/even-at-75-billion-aramco-s-dividend-isn-t-enough-says-bofa?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>, ahead of the expected release of the oil giant\u2019s 2Q2021 earnings today. Shell, BP, and others recently upped their dividends to lure back wary investors to the fossil fuel industry. But Aramco has struggled to meet its investor obligations, and took to debt markets earlier this to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5ccf0f4-8584-41ab-bb50-0c64294ab9c4\">raise USD 6 bn<\/a> in order to fund dividend payouts. However, surging oil prices as demand rebounds from the covid slump could give the company better cash flow in the current quarter.<\/p><p><strong>Huawei witnessed its biggest ever revenue drop off the back of US tech sanctions<\/strong> with the company\u2019s earnings plummeting by 29% y-o-y, the <a href=\"https:\/\/www.ft.com\/content\/dc170be7-262e-4616-9ef9-2a49c611c26b\">Financial Times<\/a> reports. A decline in smartphone sales was largely the culprit, with revenues in that line of business falling by 47% as US sanctions against local companies supplying parts to Huawei limited the supply of key items.<\/p><table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>EGX30 <\/strong><\/td>\n<td>10,723<\/td>\n<td>-% (YTD: -1.1%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>USD (CBE)<\/strong><\/td>\n<td>Buy 15.64<\/td>\n<td>Sell 15.77<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>USD at CIB<\/strong><\/td>\n<td>Buy 15.65<\/td>\n<td>Sell 15.75<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>Interest rates CBE<\/strong><\/td>\n<td>8.25% deposit<\/td>\n<td>9.25% lending<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>Tadawul<\/strong><\/td>\n<td>11,209<\/td>\n<td>+0.4% (YTD: +29.0%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>ADX<\/strong><\/td>\n<td>7,419<\/td>\n<td>+0.2% (YTD: +47.1%)<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>DFM<\/strong><\/td>\n<td>2,820<\/td>\n<td>+0.3% (YTD: +13.2%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>S&amp;P 500<\/strong><\/td>\n<td>4,436<\/td>\n<td>+0.2% (YTD: +18.1%)<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>FTSE 100<\/strong><\/td>\n<td>7,122<\/td>\n<td>-% (YTD: +10.3%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\" ><\/td>\n<td><strong>Brent crude<\/strong><\/td>\n<td>USD 70.70<\/td>\n<td>-0.8%<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>Natural gas <\/strong>(Nymex)<\/td>\n<td>USD 4.14<\/td>\n<td>-%<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\" ><\/td>\n<td><strong>Gold<\/strong><\/td>\n<td>USD 1,763.10<\/td>\n<td>-2.5%<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>BTC<\/strong><\/td>\n<td>USD 43,139.95<\/td>\n<td>+3.39% (as of midnight)<\/td>\n<\/tr>\n<\/tbody>\n<\/table><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose less than 0.1% during Thursday\u2019s trading session<\/strong> on turnover of EGP 1.6 bn (21.9% above the 90-day average). Local investors were net buyers. The index is down 1.1% YTD.<\/p><p><strong>In the green: <\/strong>Cleopatra Hospital (+2.9%), Alexandria Mineral Oils Company (+2.4%) and Qalaa Holdings (+2.3%).<\/p><p><strong>In the red: <\/strong>Ezz Steel (-2.6%), Eastern Company (-1.9%) and Rameda Pharma (-1.0%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558390\" 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=\"558390\">\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\">IN DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/\">\r\n                            Are Sudan and Ethiopia cosying up over electricity?                        <\/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\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/\" 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\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/')\">\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\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/\">\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=Are Sudan and Ethiopia cosying up over electricity?&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/\">\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\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/&title=Are Sudan and Ethiopia cosying up over electricity?\">\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=Are+Sudan+and+Ethiopia+cosying+up+over+electricity%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F08%2Fare-sudan-and-ethiopia-cosying-up-over-electricity%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\/08\/are-sudan-and-ethiopia-cosying-up-over-electricity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558390\" class=\"content-area-description single-story post-558390 post type-post status-publish format-standard hentry category-in-diplomacy tag-electricity tag-enterpriseam tag-ethiopia tag-gerd tag-in-diplomacy tag-iraq tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Sudan is in talks to buy 1 GW of electricity from Ethiopia<\/strong>, Sudan\u2019s energy and oil minister <a href=\"https:\/\/www.suna-sd.net\/read?id=719414\">told<\/a> official news agency SUNA. He added that an Ethiopian delegation was in Khartoum last month to discuss the construction of a new power line, and that Sudanese representatives will soon visit Ethiopia in return.<\/p>\n<p><strong>Both Egypt and Ethiopia have been supplying electricity to Sudan for some time<\/strong>, Jaden Ali Obeid said, adding that Ethiopia currently supplies its neighbor with 200 MW, or 10% of Sudan\u2019s daily electricity needs.<\/p>\n<p><strong>A possible electricity agreement between the two countries <\/strong>comes as they <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/07322b89-8498-4dd0-8bde-f17677ee75e9\">continue to butt heads<\/a> over the Grand Ethiopian Renaissance Dam (GERD), the Ethiopian hydropower mega-project that downstream countries Egypt and Sudan say will rob them of their fair share of Nile water. Sudan and Egypt are still refusing to come back to the negotiating table until international mediators are included, while Addis Ababa has said it will only endorse the process led by African Union mediators.<\/p>\n<p><strong>It is unclear whether this 1 GW of electricity will be produced by the GERD<\/strong>, which is expected to produce 6.4 GW when fully operational in the coming years.<\/p>\n<p><strong>Foreign Minister Sameh Shoukry headed last night to Bahrain, <\/strong>carrying a letter to King Hamad bin Isa Al Khalifa from President Abdel Fattah El Sisi calling for further improved bilateral relations and coordination between the two countries on regional developments, according to <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/130854202557768\">a Foreign Ministry statement.<\/a><\/p>\n<p><strong>President Abdel Fattah El Sisi talked military cooperation with <\/strong><strong>Iraq\u2019s Defence Minister Jumaah Saadoon, <\/strong>who passed along a letter to El Sisi from Iraqi Prime Minister Mustafa Al Kadhimi commending the two countries\u2019 bilateral ties, according to <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/373219700833431\">an Ittihadiya statement<\/a>. Last year, the two countries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8bd78d32-e156-46dd-9bb4-8cc773b033a6\">signed 15 MoUs<\/a> covering everything from oil and water resources to construction, transportation and environmental protection, as well as an \u201coil-for-reconstruction\u201d agreement.<\/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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/in-diplomacy\/\">IN DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558391\" 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=\"558391\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/israel-and-hezbollah-are-at-it-again\/\">\r\n                            Israel and Hezbollah are at it again                        <\/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\/08\/israel-and-hezbollah-are-at-it-again\/\" 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\/08\/israel-and-hezbollah-are-at-it-again\/')\">\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\/08\/israel-and-hezbollah-are-at-it-again\/\">\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=Israel and Hezbollah are at it again&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/israel-and-hezbollah-are-at-it-again\/\">\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\/08\/israel-and-hezbollah-are-at-it-again\/&title=Israel and Hezbollah are at it again\">\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=Israel+and+Hezbollah+are+at+it+again+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F08%2Fisrael-and-hezbollah-are-at-it-again%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\/08\/israel-and-hezbollah-are-at-it-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558391\" class=\"content-area-description single-story post-558391 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-climate-change tag-enterpriseam tag-israel tag-lebanon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Hezbollah and Israel traded rocket fire over the weekend<\/strong> in what <a href=\"https:\/\/bit.ly\/3AqCTEB\">the<\/a><a href=\"https:\/\/bit.ly\/3AqCTEB\">Associated Press<\/a> is calling a \u201csignificant escalation\u201d in tensions. The Shia militant group fired a volley of rockets towards Israel on Friday, and Israeli artillery hit back. No casualties have been reported.<\/p>\n<p><strong>Summer wildfires have burned 10 mn acres of land in Russia's Siberian region of <\/strong><strong>Yakutia<\/strong>, with 175 fires still burning as southern Europe faces its worst heatwave in decades, <a href=\"https:\/\/www.wsj.com\/articles\/one-of-the-coldest-places-on-earth-is-on-fire-11628251666\">the Wall Street Journal<\/a> reported. The wildfires have produced a record amount of carbon emissions in Russia, forcing the evacuation of dozens of villages on one of the coldest spots on earth. The massive fires are also <a href=\"https:\/\/apnews.com\/article\/europe-middle-east-fires-greece-forests-ad72c1a6cc7db73ec2bf46ac0c3e066e\">engulfing wide expanses<\/a> of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7d7fb35-b094-41a0-9f27-ae37f0129bab\">Greece<\/a>, France, Spain, Ukraine, Cyprus, Croatia, Sweden, Israel, Romania, Switzerland and Western Canada, with still more weeks of the fire expected.<\/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\/around-the-world\/\">Around the World<\/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\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/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=\"558392\" 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\/08\/your-essential-business-calendar-on-8-august-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558392\" class=\"content-area-description single-story post-558392 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-8 August (Friday-Sunday): Tokyo 2020 Olympics.<\/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>26-28 August (Thursday-Saturday): <a href=\"https:\/\/www.kansascityfed.org\/research\/jackson-hole-economic-symposium\/\">Jackson Hole Economic Symposium<\/a>. <sup><\/sup><\/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\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":558371,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-558370","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b4752d06-a59f-459a-98d9-93b29658252c","teaser":"","photo_url":"https:\/\/ent.news\/2021\/8\/108.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>Central bank leaves interest rates on hold for sixth consecutive meeting - 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\/central-bank-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central bank leaves interest rates on hold for sixth consecutive meeting\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:03:28+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\/108.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\/central-bank-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-leaves-interest-rates-on-hold-for-sixth-consecutive-meeting\/\",\"name\":\"Central bank leaves interest rates on hold for sixth consecutive meeting - 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