{"id":558435,"date":"2021-08-10T04:21:09","date_gmt":"2021-08-10T04:21:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=558435"},"modified":"2025-12-16T02:05:03","modified_gmt":"2025-12-16T02:05:03","slug":"state-owned-nib-prepares-for-restructuring-heres-what-it-owns-and-where-it-might-be-headed","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/state-owned-nib-prepares-for-restructuring-heres-what-it-owns-and-where-it-might-be-headed\/","title":{"rendered":"State-owned NIB prepares for restructuring \u2014 here\u2019s what it owns and where it might be headed"},"content":{"rendered":"<section id=\"558437\" 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=\"558437\">\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\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/\">\r\n                            THIS MORNING: Daily covid cases in Egypt are at a two week high + Russians land in Sharm and Hurghada                        <\/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\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/\" 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\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/')\">\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\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Daily covid cases in Egypt are at a two week high + Russians land in Sharm and Hurghada&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/\">\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\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/&title=THIS MORNING: Daily covid cases in Egypt are at a two week high + Russians land in Sharm and Hurghada\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+Daily+covid+cases+in+Egypt+are+at+a+two+week+high+%2B+Russians+land+in+Sharm+and+Hurghada+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F10%2Fthis-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada%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\/10\/this-morning-daily-covid-cases-in-egypt-are-at-a-two-week-high-russians-land-in-sharm-and-hurghada\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558437\" class=\"content-area-description single-story post-558437 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-china tag-climate-change tag-covid-19 tag-enterpriseam tag-environment tag-grand-egyptian-museum tag-hurghada tag-russia tag-sharm-el-sheikh tag-sports tag-tourism tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, friends, and welcome to a brisk news day at home and abroad <\/strong>on this holiday-shortened week.<\/p>\n<p><strong>THE BIG STORY of the morning: <\/strong>The apparent winding down of the National Investment Bank, the state-owned \u201cdevelopment bank\u201d that owns stakes in a host of companies. Liquidation is smart policy when you consider that those activities are best looked after (and largely sold off and \/ or managed by) the Sovereign Fund of Egypt. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>The tourism industry is still celebrating the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9b7d2d1-a767-4a8d-8a0f-b42df390ce59\">return of Russian tourists<\/a><\/strong><strong> on direct flights to <\/strong><strong>the Red Sea yesterday after a six-year hiatus. <\/strong>The news is getting plenty of attention from local and foreign press. Egypt pulled out all the stops at <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/197363112434117\">Sharm El Sheikh<\/a> and <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/197184402451988\">Hurghada<\/a> airports yesterday. We have More in <strong>Last Night\u2019s Talk Shows<\/strong> and <strong>Egypt in the News<\/strong> below.<\/p>\n<p><strong>Also: The covid-19 case count inched up again last night<\/strong>, making it two weeks that numbers have been moving in the wrong direction. The figures are still very low, but it\u2019s a reminder that you may want to put a mask on when you duck into your favourite coffee shop in Sahel. No mask outside? Totally cool, particularly if you\u2019ve been jabbed. No mask indoors? Come on. (Oddly enough, covid does indeed exist on the shores of the Mediterranean.)<\/p>\n<p><strong>THERE ARE TWO BIG STORIES ABROAD this morning<\/strong>, and each of them has implications for Egypt.<\/p>\n<p><strong>FIRST: In a shocking development that absolutely nobody has warned of before, it seems <\/strong><strong>some climate change effects may be irreversible \u2014 and it\u2019s all our fault as a species. <\/strong>A report out yesterday from scientists working under the auspices of the United Nations \u201chighlights human responsibility for heat waves, droughts, intense storms and other extreme weather events.\u201d<\/p>\n<p><strong>The changes could be \u201cirreversible for centuries,\u201d <\/strong>as we <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9b7d2d1-a767-4a8d-8a0f-b42df390ce59\">noted yesterday afternoon<\/a>. The scientists found that humans are \u201cunequivocally\u201d at fault here. Among the top offenders? Activities including transportation, energy and industry.<\/p>\n<p><strong>The \u201clandmark report\u201d still leads the front pages of the <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/some-climate-change-effects-may-be-irreversible-u-n-panel-report-says-11628496000?mod=hp_lead_pos2\">Wall Street Journal<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/features\/2021-08-09\/ipcc-report-human-caused-climate-change-unequivocal?srnd=premium-middle-east\">Bloomberg<\/a><\/strong><strong> on this fine Tuesday morning<\/strong><strong>.<\/strong><\/p>\n<p><strong>You can find the full, nearly 4k-page report <\/strong><strong><a href=\"https:\/\/www.ipcc.ch\/report\/ar6\/wg1\/\">here<\/a><\/strong> (there\u2019s also a nice 50-page summary on the report\u2019s landing page) or watch the recording of yesterday\u2019s press conference (<a href=\"https:\/\/www.youtube.com\/watch?v=z149vLKn9d8\">watch, runtime: 1:37:40<\/a>) announcing the findings.<\/p>\n<p><strong>But don\u2019t worry, the UK is holding a <\/strong><strong><a href=\"https:\/\/ukcop26.org\/\">climate summit in November<\/a><\/strong> and will let folks from red <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-09\/u-k-to-relax-covid-travel-rules-for-cop26-climate-summit?srnd=premium-middle-east&sref=mmeFTDW1\">list countries<\/a> fly in despite the current mania about the delta variant of the virus that causes covid-19. Wonder if the attendees are going to buy carbon offset credits?<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>SECOND: Covid, covid and still more covid. <\/strong>Hot on yesterday\u2019s suggestion that <a href=\"https:\/\/www.wsj.com\/articles\/companies-thought-they-had-a-plan-for-fall-now-they-are-scrapping-it-11628415001\">corporations<\/a><a href=\"https:\/\/www.wsj.com\/articles\/companies-thought-they-had-a-plan-for-fall-now-they-are-scrapping-it-11628415001\">are dialing back their fall plans<\/a> is news that \u201cChina\u2019s worst coronavirus outbreak since the virus first emerged in Wuhan is <strong>adding to concerns about the quality of vaccines [developed in China]<\/strong> amid a dearth of data on the efficacy of the shots.\u201d The story is at the top of the front page of the <a href=\"https:\/\/www.ft.com\/content\/dd7ca21d-d779-45d8-aca5-c8f86f94f15e\">Financial Times<\/a>. Worries about covid are weighing on stock trading in Asia this morning, <a href=\"https:\/\/www.cnbc.com\/2021\/08\/10\/asia-markets-samsung-covid-currencies-oil.html\">CNBC<\/a> adds.<\/p>\n<p><strong>Elsewhere: The US military is going to make it mandatory for <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/biden-backs-pentagons-plan-to-vaccinate-u-s-military-11628531944?mod=hp_lead_pos1\">service members to be<\/a><\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/biden-backs-pentagons-plan-to-vaccinate-u-s-military-11628531944?mod=hp_lead_pos1\">jabbed<\/a><\/strong> and some states with low vaccination rates are <a href=\"https:\/\/www.reuters.com\/world\/us\/delta-variant-pushes-us-cases-hospitalizations-6-month-high-2021-08-09\/\">running out of ICU<\/a> beds as the delta variant runs amok.<\/p>\n<p><strong>HAPPENING NOW- Americans: They\u2019re just like us. <\/strong>The US Senate looks set to <a href=\"https:\/\/www.ft.com\/content\/67880a94-55c9-468c-a749-35463a08e6c5\">pass a USD<\/a><a href=\"https:\/\/www.ft.com\/content\/67880a94-55c9-468c-a749-35463a08e6c5\">1 tn spending package<\/a> to \u201cinvest in America\u2019s crumbling infrastructure.\u201d Senators voted overnight to end debate on the bill, setting up a final vote this week. The bill has Republican support and looks set to pass.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Are we the only ones being driven mad by the anticipation of visiting the Grand Egyptian <\/strong><strong>Museum? <\/strong>We can\u2019t drive to <s>Sahel<\/s> Smart Village and back without passing the place, and the wait is driving us bonkers. <a href=\"https:\/\/twitter.com\/TourismandAntiq\/status\/1424138184854851584?s=20\">Videos like this one on the moving of the first Khufu boat<\/a> aren\u2019t making the wait any easier.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>MORNING MUST READ- Mayar Sherif can\u2019t stop making Egyptian tennis history<\/strong>, <a href=\"https:\/\/www.wtatennis.com\/news\/2211396\/insider-wrap-sherif-makes-history-for-egypt-as-collins-petkovic-shine\">becoming the first Egyptian woman<\/a> to make it to a Women's Tennis Association (WTA) final before going down to <a href=\"https:\/\/www.wtatennis.com\/tournament\/2043\/cluj-napoca\">Germany's Andrea Petkovic<\/a> in Cluj-Napoca, Romania. Sherif also cracked into <a href=\"https:\/\/www.atptour.com\/en\/rankings\/singles\">the top 100 of the ATP rankings<\/a> for the first time, claiming the 97th rank \u2014 the best ranking ever to be achieved by an Egyptian woman. Sherif had already become this year the first Egyptian woman to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53c9788a-ca80-4be8-80bd-45d879445a08\">reach the main draw of a Grand Slam<\/a> at the 2020 French Open, and the first Egyptian to qualify for the Australian Open.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>CIRCLE YOUR CALENDAR- State-owned <\/strong><strong><a href=\"https:\/\/elnasrexpimp.com\/about-e.html\">El Nasr for Export and Import<\/a><\/strong><strong> is holding <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/197560249081070\">a webinar<\/a><\/strong><strong> tomorrow on Gosoor<\/strong> \u2014 the government\u2019s new e-catalogue for Egyptian products \u2014 to familiarize companies with export-ready products with the services offered by the platform.<\/p>\n<p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/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 class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558438\" 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=\"558438\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/558438\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558438\" class=\"content-area-description single-story post-558438 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\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=\"558439\" 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=\"558439\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/state-owned-nib-prepares-for-liquidation\/\">\r\n                            State-owned NIB prepares for liquidation                        <\/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\/10\/state-owned-nib-prepares-for-liquidation\/\" 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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-->\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\/10\/state-owned-nib-prepares-for-liquidation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/133.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"558440\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/state-owned-nib-prepares-for-liquidation\/133-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/133.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"133.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/133.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/133.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558439\" class=\"content-area-description single-story post-558439 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-arab-investment-bank tag-e-finance tag-el-salhiya-investment-and-development tag-enterpriseam tag-investment-watch tag-national-investment-bank 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-01\" class=\"content-anchor\"><\/a> <strong>SMART POLICY- State-owned NIB prepares for liquidation:<\/strong> The government is moving ahead with its plan to liquidate the National Investment Bank (NIB) and is in talks with investors to sell off some of the bank\u2019s subsidiaries as part of a reform plan agreed with the IMF last year, the <a href=\"https:\/\/ent.news\/2021\/8\/Monday-09-Aug-2021-issue-2626-1.pdf\">financial daily Al Borsa (pdf)<\/a> reports, citing informed sources. The heavily-indebted state-owned development bank (despite the name, it is not an investment bank) aims to sell its assets within the next 18 months and efforts are underway to reduce its liabilities, the sources said.<\/p>\n<p><strong>Dialling back risk:<\/strong> The decision to wind down the NIB was taken this year to reduce fiscal risk and protect financial stability, the IMF said in its <a href=\"https:\/\/ent.news\/2021\/8\/IMF-Second-Review.pdf\">recent review (pdf)<\/a> of Egypt\u2019s USD 5.2 bn standby loan program. The government agreed with the Fund to come up with a plan to mitigate risks posed by the bank\u2019s financial position. While initially considering reform, following the results of <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/04\/egypt-taps-deloitte-to-appraise-national-investment-bank-assets-ahead-of-restructuring\/\">an audit<\/a> the Madbouly government opted to shutter the bank and in January halted its lending and funding operations.<\/p>\n<p><strong>The SFE will have a big say in what happens to the bank\u2019s assets:<\/strong> Domestic press reports suggest the Sovereign Fund of Egypt (SFE) is still in talks to acquire a sizable chunk of the bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe18bff-8408-437c-9c11-fa674e1b45dc\">69% stake<\/a> in state-owned e-payments platform e-Finance, as well as its holdings in the petrochemicals and minerals sectors. NIB owns a 24.8% stake in Abu Qir Fertilizers, 12.8% of Misr Fertilizers Production Company (MOPCO) and 6.9% of Sidi Kerir Petrochemicals. Separately, the fund has acquired with private-sector giant EFG Hermes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c287e773-2544-427e-b777-a60bccad68f6\">a 76% in the Arab Investment Bank<\/a>, in which the NIB holds a 91.4% stake. The SFE has also been working to bring in investors to modernize commodities producer El Salhiya Investment and Development, which is a 44% owned subsidiary of NIB.<\/p>\n<p><strong>The bank also owns stakes in a host of other listed companies<\/strong> including 40.7% in the Export Development Bank of Egypt, 25.3% in Egytrans, 20% in Misr Beni Suef Cement, 10% in Abu Dhabi Islamic Bank Egypt, 9.6% in Misr Cement Qena, 3.7% in MNHD and 1.1% in Egyptian Financial and Industrial Company.<\/p>\n<p><strong>What does NIB owe?<\/strong> The Deloitte audit has not been made public, so it is unknown how much the bank actually owes. A bank report last year estimated that its debt pile had grown to <a href=\"https:\/\/www.elbalad.news\/4443536\">more than EGP 650 bn<\/a>. The NIB\u2019s financial position has become increasingly fraught due to increasing liabilities, bad asset management, as well as issuance of deposit certificates with very high interest rates, Mona Bedeir, senior economist at Prime Holding, told us. Proceeds from selling the bank\u2019s assets will be used to pay down its liabilities, easing the burden on the state budget, she added.<\/p>\n<p><strong>The government has been trying to tackle the problem since at least early 2019<\/strong>, when it set up a committee that eased some of the pressure by swapping some of the bank\u2019s junk loans.<\/p>\n<p><b>CLARIFICATION- <\/b><span style=\"font-weight: 400;\">In our story above, we quote Prime senior economist <\/span><span style=\"font-weight: 400;\">Mona Bedeir on factors that may have resulted in the financial position inherited by NIB\u2019s current management team. Neither Prime nor Bedeir provided data or other information for the story \u2014 which, as we clearly noted, was first broken by Al Borsa based on the IMF\u2019s review document (above). Prime has asked to \u201cclarify that Mona Bedeir\u2019s comment was limited only to the analytical aspect in terms of dissolving the entanglements between the Ministry of Finance on one hand and the Ministry of Public Enterprise on the other hand. She did not provide any comment on the technical management of National Investment Bank or the management of its assets. Prime apologizes if any offense was taken.\u201d This clarification was added on 11 August 2021.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-investment-bank\/\">Arab Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-salhiya-investment-and-development\/\">El Salhiya Investment and Development<\/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\/national-investment-bank\/\">National Investment Bank<\/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=\"558441\" 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=\"558441\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/egypt-could-liquefy-and-export-israeli-natgas\/\">\r\n                            Egypt could liquefy and export Israeli natgas                        <\/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\/10\/egypt-could-liquefy-and-export-israeli-natgas\/\" 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 forum, which is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f00fbc43-ff4f-47eb-a99b-ef0b0db10cec\">led by Egypt till the end of the year<\/a> and counts Palestine, Jordan, Greece, Cyprus, Italy and Israel as members, is due to hold its next meeting in Cairo in 4Q2021, after convening its last meeting here in town last March.<\/p>\n<p><strong>Will we be getting the gas through our new joint pipeline? <\/strong>Egypt and Israel <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">agreed earlier<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">this year<\/a> to build a pipeline connecting Israel\u2019s offshore Leviathan gas field to Egypt\u2019s liquefaction plants to help Israel ramp up its exports to Europe. Israel\u2019s Delek Drilling, a main operator of the Leviathan gas field, had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1de15aa3-42c6-42c6-b17b-497fcccc3123\">said last year<\/a> that it was mulling expanding its natural gas exports via Egypt\u2019s Idku LNG terminal or by building its own floating terminal. At the time, the dispute over the Damietta plant \u2014 which came online in February following an eight-year hiatus \u2014 had not yet been resolved, leaving Idku as Egypt\u2019s only viable LNG terminal. Leviathan\u2019s offshore gas field came <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/29\/israels-leviathan-gas-field-said-to-begin-production-on-tuesday-9215\/\">online in 2019<\/a> and supplies<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/350a3d35-560a-41d3-bf07-b3fe0449a7d8\">Egypt and Jordan<\/a>.<\/p>\n<p><strong>Egypt already imports gas from Israeli offshore fields Tamar and Leviathan <\/strong>under <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/20\/dolphinus-reportedly-signs-usd-15-bn-natural-gas-agreement-with-israel\/\">a<\/a><a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/20\/dolphinus-reportedly-signs-usd-15-bn-natural-gas-agreement-with-israel\/\">landmark agreement<\/a> in 2018 between Alaa Arafa\u2019s Dolphinus and Israeli oil company Delek Drilling and Texas-based Noble Energy. The agreement was <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/israel-to-boost-gas-supply-to-egypt-by-34-after-changes-to-landmark-agreement\/\">later amended<\/a> to increase supply to 87.5 bn cubic meters over the course of 15 years, ending in 2034.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/damietta-lng-plant\/\">Damietta LNG plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean-gas-forum\/\">Eastern Mediterranean Gas Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/idku-lng-plant\/\">Idku LNG plant<\/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\/tarek-el-molla\/\">Tarek El Molla<\/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=\"558443\" 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=\"558443\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/\">\r\n                            Egypt-based payroll platform Dopay is now Bank ABC Egypt\u2019s banking agent                        <\/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\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/\" 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\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/')\">\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\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt-based payroll platform Dopay is now Bank ABC Egypt\u2019s banking agent&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/\">\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\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/&title=Egypt-based payroll platform Dopay is now Bank ABC Egypt\u2019s banking agent\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt-based+payroll+platform+Dopay+is+now+Bank+ABC+Egypt%E2%80%99s+banking+agent+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F10%2Fegypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent%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\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/135.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"558444\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/egypt-based-payroll-platform-dopay-is-now-bank-abc-egypts-banking-agent\/135-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/135.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"135.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/135.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/135.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558443\" class=\"content-area-description single-story post-558443 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-bank-abc tag-banking tag-central-bank-of-egypt tag-dopay tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt-based fintech startup <\/strong><strong><a href=\"https:\/\/www.dopay.com\/\">Dopay<\/a><\/strong><strong> will offer its digital payroll solutions to Bank <\/strong><strong>ABC corporate clients <\/strong>after obtaining an agent banking license from the Central Bank of Egypt (CBE) through Bank ABC, according to <a href=\"https:\/\/dopaynews.pr.co\/201524-dopay-awarded-banking-agent-license-through-bank-abc-egypt\/\">a press release<\/a> yesterday. The license enables Dopay to offer corporate banking services via its digital payroll and payment platform through which companies can pay their unbanked employees\u2019 salaries. Staff will be able to receive their funds through a prepaid debit card. The license will allow Dopay clients to \u201cinstantly open accounts for their employees and other beneficiaries and pay them in real-time.\u201d<\/p>\n<p><strong>About Dopay:<\/strong> Established in June 2014, Dopay works to provide payroll services for the unbanked to drive financial inclusion and digital transformation in Egypt. Dopay\u2019s customers include McDonalds and mass transportation app Swvl, and the company implements payroll solutions for <a href=\"https:\/\/enterprise.press\/stories\/2016\/06\/06\/emirates-nbd-bids-for-barclays-egypt\/\">Barclays-Egypt<\/a>. The company raised <a href=\"https:\/\/enterprise.press\/stories\/2016\/02\/01\/deodorants-going-cost-customs-duties-rise-luxury-goods\/\">USD 2.4 mn<\/a> in 2016 in a round led by Techstars Ventures and Force Over Mass Capital, and an additional <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/12\/dutch-development-bank-invests-eur-1-mn-in-egypt-based-payroll-platform-dopay\/\">EUR 1 mn<\/a> investment from Dutch development bank FMO in March 2020.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dopay\/\">Dopay<\/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=\"558445\" 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=\"558445\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/\">\r\n                            The daily case count inches up again in Egypt as the rest of the world grapples with delta                        <\/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\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/\" 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\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/')\">\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\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The daily case count inches up again in Egypt as the rest of the world grapples with delta&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/\">\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\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/&title=The daily case count inches up again in Egypt as the rest of the world grapples with delta\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+daily+case+count+inches+up+again+in+Egypt+as+the+rest+of+the+world+grapples+with+delta+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F10%2Fthe-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta%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\/10\/the-daily-case-count-inches-up-again-in-egypt-as-the-rest-of-the-world-grapples-with-delta\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558445\" class=\"content-area-description single-story post-558445 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-france tag-iran tag-tunisia tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/135685412076015\">reported<\/a><\/strong><strong> 83 new covid-19 infections yesterday<\/strong>, up from 65 the day before. Egypt has now disclosed a total of 284,789 confirmed cases of covid-19. The ministry also reported 7 new deaths yesterday, bringing the country\u2019s total death toll to 16,582.<\/p>\n<p><strong>The daily new case count has risen consistently for the past two weeks<\/strong>, with the number of new reported covid-19 infections steadily inching up since 27 July, with the exception of a brief drop on 5 August, according to our in-house covid tracker.<\/p>\n<p><strong>University students across the United States are forging covid-19 vaccination <\/strong><strong>documents through apps such as Instagram and Telegram<\/strong>, the <a href=\"https:\/\/apnews.com\/article\/coronavirus-education-fake-vaccination-cards-8c4ca2b4d54434c2fc022b34087df8cb\">Associated Press<\/a> reports. Administrators say a national vaccine passport application is necessary to stop the forgery.<\/p>\n<p><strong>French cafes and bars now require proof of vaccination or a negative COVID-19<\/strong><strong>. <\/strong>Cafes and bars that don\u2019t follow the strict guidelines the government has set will face a seven day closure, with repeat offenders potentially facing jail time.<\/p>\n<p><strong>Tunisia vaccinated half a million people Sunday,<\/strong> the health ministry announced, after receiving more than six million doses from Western and Arab countries, <a href=\"https:\/\/www.reuters.com\/world\/africa\/tunisia-vaccinates-more-than-half-million-people-day-2021-08-08\/\">Reuters<\/a> reports. The pick-up in pace followed a wave of protests against the government\u2019s slow vaccination campaign, with the country having administered two vaccine doses to 1.3 million Tunisians so far.<\/p>\n<p><strong>One person in Iran dies of covid-19 every two minutes \u2014 a new person is infected every <\/strong><strong>two seconds<\/strong>, Iranian state TV said Monday, according to <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-says-one-person-dying-covid-19-every-two-minutes-2021-08-09\/\">Reuters<\/a>. The country is grappling with its most severe surge of infections to date and posted yesterday a new record daily death toll of 588.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tunisia\/\">Tunisia<\/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=\"558446\" 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=\"558446\">\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\">CORRECTIONS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\">\r\n                            Setting the record straight on CI Capital and Ezz Steel earnings                        <\/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\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\" 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\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/')\">\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\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\">\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=Setting the record straight on CI Capital and Ezz Steel earnings&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\">\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\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/&title=Setting the record straight on CI Capital and Ezz Steel earnings\">\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=Setting+the+record+straight+on+CI+Capital+and+Ezz+Steel+earnings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F10%2Fsetting-the-record-straight-on-ci-capital-and-ezz-steel-earnings%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\/10\/setting-the-record-straight-on-ci-capital-and-ezz-steel-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558446\" class=\"content-area-description single-story post-558446 post type-post status-publish format-standard hentry category-corrections tag-corrections tag-enterpriseam tag-hurghada tag-red-sea tag-russia tag-sharm-el-sheikh tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>We goofed in our coverage of earnings reports in yesterday\u2019s EnterprisePM <\/strong>and have corrected the stories on our website.<\/p>\n<p><strong>Mea culpa #1:<\/strong> CI Capital\u2019s net income rose to EGP 974 mn in 2Q, not EGP 974k. Decimals \u2014 they\u2019re hard.<\/p>\n<p><strong>Mea culpa #2:<\/strong> Ezz Steel did not make a loss in the second quarter; it recorded an EGP 1.<sup><\/sup>21 bn profit after being in the red last year, according to its <a href=\"https:\/\/ent.news\/2021\/8\/Consolidated-Interim-In-30-Jun-2021.pdf\">consolidated financials (pdf)<\/a>. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37286b9d-36d1-4b3f-be65-345326f01034\">The story<\/a> has been updated on our website. Subsidiary Al Ezz Dekheila Steel was also in the black in 2Q2021, with the company <a href=\"https:\/\/ent.news\/2021\/8\/Ezz-Dekheila-2Q21.pdf\">reporting (pdf)<\/a> yesterday an EGP 1.04 bn profit during the quarter, compared to an EGP 1.2 bn loss last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corrections\/\">CORRECTIONS<\/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\/red-sea\/\">Red Sea<\/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\/tourism\/\">tourism<\/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=\"558447\" 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=\"558447\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/558447\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558447\" class=\"content-area-description single-story post-558447 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\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=\"558448\" 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=\"558448\">\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\/10\/were-very-happy-to-have-the-russians-back\/\">\r\n                            We\u2019re very happy to have the Russians back                        <\/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\/10\/were-very-happy-to-have-the-russians-back\/\" 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\/10\/were-very-happy-to-have-the-russians-back\/')\">\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\/10\/were-very-happy-to-have-the-russians-back\/\">\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=We\u2019re very happy to have the Russians back&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/were-very-happy-to-have-the-russians-back\/\">\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\/10\/were-very-happy-to-have-the-russians-back\/&title=We\u2019re very happy to have the Russians back\">\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=We%E2%80%99re+very+happy+to+have+the+Russians+back+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F10%2Fwere-very-happy-to-have-the-russians-back%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\/10\/were-very-happy-to-have-the-russians-back\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/138.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"558449\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/were-very-happy-to-have-the-russians-back\/138-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/138.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"138.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/138.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/138.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558448\" class=\"content-area-description single-story post-558448 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-hurghada tag-last-nights-talk-shows tag-red-sea tag-russia tag-sharm-el-sheikh tag-tourism 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>On an otherwise quiet summer evening on the airwaves last night, the Great <\/strong><strong>Russian Return drove conversation:<\/strong> The nation\u2019s talking heads fixated on the arrival of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9b7d2d1-a767-4a8d-8a0f-b42df390ce59\">the first Moscow-Hurghada and Moscow-Sharm El Sheikh flights<\/a> in six years, bringing more than 800 Russian tourists to Red Sea resorts. The Russian state aviation agency has given the <a href=\"https:\/\/tass.com\/economy\/1323825\">greenlight to eight Russian airlines<\/a> to operate five weekly flights to Hurghada and Sharm El Sheikh from 43 cities across Russia, while national carrier EgyptAir is set to operate four more weekly flights from Moscow to the two Red Sea resorts, Red Sea Governor Amr Hanafy told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.facebook.com\/watch\/?v=889937941608031\">watch, runtime 4:03<\/a>).<\/p>\n<p><strong>Tourism Minister Khaled El Enany phoned into Al Hayah Al Youm to applaud the <\/strong><strong>resumption of flights. <\/strong>The minister used the occasion to say that tourist receipts have more than doubled over the past five months and are on track to bounce back to pre-pandemic levels. Al Hayah Al Youm (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=99kRLNjp8-k\">11:21<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=P_ljBy-Wb5g\">5:36<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=CuB1quydtG8\">watch, runtime: 4:08<\/a>) also had coverage.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/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\/red-sea\/\">Red Sea<\/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\/tourism\/\">tourism<\/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=\"558450\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n  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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ltsyd5o\" data-v=\"4\" data-block-id=\"ltsyd5o\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ltsyd5o-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ltsyd5o-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-utr916q\" data-v=\"4\" data-block-id=\"utr916q\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-utr916q-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-utr916q-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-jegznbc\" data-v=\"4\" data-block-id=\"jegznbc\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jegznbc-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jegznbc-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div 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NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/10\/foreign-press-take-note-of-russian-tourists-return\/\">\r\n                            Foreign press take note of Russian tourists\u2019 return                        <\/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\/10\/foreign-press-take-note-of-russian-tourists-return\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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format-standard hentry category-egypt-in-the-news tag-al-jazeera tag-aviation tag-enterpriseam tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9b7d2d1-a767-4a8d-8a0f-b42df390ce59\">return of Russian flights<\/a><\/strong><strong> to Egypt\u2019s Red Sea resorts Sharm El Sheikh and <\/strong><strong>Hurghada <\/strong>is dominating the coverage on Egypt in the foreign press this morning, with everyone from <a href=\"https:\/\/www.reuters.com\/article\/egypt-russia-flights\/refile-russian-flights-return-to-egypts-resorts-six-years-after-crash-idUSL4N2PG2XA\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/lifestyle-africa-business-middle-east-europe-bfda29d669213a6847b23eb6cc164b6d\">the AP<\/a> to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-09\/russia-resumes-flights-to-egyptian-resorts-after-6-years?sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"http:\/\/u.afp.com\/Uzcp\">AFP<\/a> taking note.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>The age-old craft of papyrus making goes virtual: <\/strong>Papyrus craftspeople around the country are selling their products online to survive the pandemic-induced tourism slump, <a href=\"https:\/\/www.freemalaysiatoday.com\/category\/top-lifestyle\/2021\/08\/09\/egypt-papyrus-makers-push-on-despite-tourism-slump\/?__cf_chl_jschl_tk__=pmd_3080805f39c714368ad41462fd3c6eddc21871dd-1628496204-0-gqNtZGzNAvijcnBszQji\">AFP<\/a> reports.<\/li>\n<li><strong>Al Jazeera journalist detained upon arrival in Egypt: <\/strong>Rabie El Sheikh will be detained for 15 days following his arrest at Cairo International Airport for \u201cspreading of false news\u201d, the <a href=\"https:\/\/www.jpost.com\/middle-east\/despite-improved-egypt-qatar-relations-aj-journalist-arrested-676210\">Jerusalem Post<\/a> reports.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-jazeera\/\">Al Jazeera<\/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\/tourism\/\">tourism<\/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=\"558452\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558453\" 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=\"558453\">\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\/10\/aluminium-prices-surge-to-near-decade-high-delta-variant-to-hit-china-growth-prospects\/\">\r\n                            Aluminium prices surge to near decade high + Delta variant to hit China growth prospects                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n 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id=\"post-558453\" class=\"content-area-description single-story post-558453 post type-post status-publish format-standard hentry category-planet-finance tag-aluminium-prices tag-china tag-covid-19 tag-enterpriseam tag-financial-markets tag-goldman-sachs tag-planet-finance tag-price-drops tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>SUPERCYCLE WATCH- Aluminium prices are nearing a decade high of c. USD <\/strong><strong>2.6k per tonne this week<\/strong>, supported by a post-pandemic global economic recovery and a sustained rebound in prices of industry-related materials, <a href=\"https:\/\/www.ft.com\/content\/a07c556d-2aa4-4b25-b00f-fdd42a2cf9b8\">the Financial Times<\/a> reports. Aluminium prices rose 31% y-o-y in 2021, with the potential for this year to outstrip 2010 as the \u201clargest annual demand growth in history,\u201d one analyst told the salmon-colored newspaper. The price rally is good news for an industry that has suffered from years of oversupply amid relentless growth in China\u2019s output.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>As the Delta variant thrives, oil prices plunge:<\/strong> Prices eased 4% this week, following last week's 7% drop \u2014 which was the steepest in 9 months \u2014 as demand in Asia slows due to a renewed covid surge, according to a <a href=\"https:\/\/www.ft.com\/content\/ba4ab9a0-4e89-4979-b794-c7e5593724a6\">Financial Times report<\/a>. China, the world\u2019s biggest oil importer, has scaled back imports by 5.6% cumulatively y-o-y in 2021 so far.<\/p><p><strong>Saudi Arabia\u2019s budget deficit narrowed in 2Q2021 on higher oil, tax <\/strong><strong>revenues:<\/strong> Saudi Arabia posted a deficit of USD 1.2 bn during the April-June period, down 96% y-o-y from the <a href=\"https:\/\/www.reuters.com\/article\/us-saudi-economy-budget-idUSKCN24T1ZN\">USD 29.12 bn<\/a> recorded a year before. This came off the back of a 38% increase in oil revenues in 2Q2021, and the almost tripling of non-oil revenues to USD 31 bn, the Saudi finance ministry said in a statement picked up by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-09\/saudi-budget-deficit-narrows-in-second-quarter-on-higher-oil?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. Improving public finances are largely attributed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26a0a84b-8a53-4667-b2b8-d0056e8f5cee\">an increase in oil prices<\/a>, after having dropped to record levels during the depths of the pandemic last year.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,800<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,197.97<\/p>\n<\/td>\n<td>\n<p>-0.15% (YTD: +28.87%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,572.82<\/p>\n<\/td>\n<td>\n<p>+0.95% (YTD: +50.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,823.35<\/p>\n<\/td>\n<td>\n<p>+0.02% (YTD: +13.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,432<\/p>\n<\/td>\n<td>\n<p>-0.09% (YTD: +18%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,132.3<\/p>\n<\/td>\n<td>\n<p>+0.13% (YTD: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 68.97<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.03<\/p>\n<\/td>\n<td>\n<p>-0.69%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,725.80<\/p>\n<\/td>\n<td>\n<p>+0.54%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 45,944.44<\/p>\n<\/td>\n<td>\n<p>+6.19% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.6% at today\u2019s close<\/strong> on turnover of EGP 1.8 bn (27.8% above the 90-day average). Local investors were net buyers. The index is down 0.4% YTD.<\/p><p><strong>In the green: <\/strong>Telecom Egypt (+3.5%), Ezz Steel (+2.7%) and Medinet Nasr Housing (+1.5%).<\/p><p><strong>In the red: <\/strong>AMOC (-3.6%), Speed Medical (-2.7%) and MM Group (-2.5%).<\/p><p><strong>Asian markets are mixed this morning<\/strong>, with benchmark indexes in Tokyo and Hong Kong in the green while their counterparts in Shanghai and Seoul are in the red. Futures suggest shares in Europe and North America are likely to open in the red later 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\/aluminium-prices\/\">aluminium prices<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/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\/price-drops\/\">price drops<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"558454\" 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\/10\/your-essential-business-calendar-on-10-august-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-558454\" class=\"content-area-description single-story post-558454 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>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>.<\/p>\n<p>September: Delegation of Russian companies to visit Russian Industrial Zone.<\/p>\n<p>2 September (Thursday): The new EGX mechanism for calculating closing share prices will come into effect.<\/p>\n<p>3-5 September (Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>7-8 September (Tuesday-Wednesday): Euromoney Conferences will host <a href=\"https:\/\/bit.ly\/3lpLeUO\">the GlobalCapital Sustainable and Responsible Capital Markets Forum 2021<\/a>, featuring Vice Minister of Finance Minister Ahmed Kouchouk.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>October: New legislative session begins.<\/p>\n<p>1 October (Friday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>31 October - 12 November (Sunday-Friday): The 26th UN Climate Change Conference, Glasgow, UK.<\/p>\n<p>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":558436,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-558435","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e0a2f4b7-2ce8-4c7f-a198-667267e19538","teaser":"","photo_url":"https:\/\/ent.news\/2021\/8\/130.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>State-owned NIB prepares for restructuring \u2014 here\u2019s what it owns and where it might be headed - 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\/state-owned-nib-prepares-for-restructuring-heres-what-it-owns-and-where-it-might-be-headed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State-owned NIB prepares for restructuring \u2014 here\u2019s what it owns and where it might be headed\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/state-owned-nib-prepares-for-restructuring-heres-what-it-owns-and-where-it-might-be-headed\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:05:03+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\/130.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\/state-owned-nib-prepares-for-restructuring-heres-what-it-owns-and-where-it-might-be-headed\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/state-owned-nib-prepares-for-restructuring-heres-what-it-owns-and-where-it-might-be-headed\/\",\"name\":\"State-owned NIB prepares for restructuring \u2014 here\u2019s what it owns and where it might be headed - 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