{"id":559275,"date":"2021-01-17T03:52:01","date_gmt":"2021-01-17T03:52:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=559275"},"modified":"2025-12-16T02:25:37","modified_gmt":"2025-12-16T02:25:37","slug":"bank-abc-wins-bid-for-blom-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/bank-abc-wins-bid-for-blom-egypt\/","title":{"rendered":"Bank ABC wins bid for Blom Egypt"},"content":{"rendered":"<section id=\"559277\" 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=\"559277\">\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\/01\/17\/what-were-tracking-on-17-january-2021\/\">\r\n                            What we\u2019re tracking on 17 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-were-tracking-on-17-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Throw in the local press\u2019 favourite parlour game (\u201cWho\u2019s sticking around in a cabinet shuffle?\u201d) and that should take us through to the end of month and into early February.<\/p><p><strong>What to watch for: <\/strong>The prime minister\u2019s now-traditional address to the House on his government\u2019s legislative priorities. MPs were sworn in last week and have their committee assignments. They\u2019re working through largely procedural stuff now (see Cabinet Watch, below), with the real heavy lifting likely to come only after the PM\u201ds address \u2014 itself potentially contingent on a cabinet shuffle. Gadfly journalist and MP Mostafa Bakry floated last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3dda300-7982-4d85-ba1a-df2f1421f659\">his theory on the likely shuffle<\/a>, which Masrawy later reported should see the cabinet economic group staying in place.<\/p><p><strong>We have a brand new set of committees in the House:<\/strong> The MPs heading up the House committees <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2234095\">were appointed<\/a> on Thursday, paving the way for legislative activity to get up and running.<\/p><p><strong>So, who\u2019s quarterbacking the government\u2019s agenda in the House? <\/strong>Committee chairs relevant to business include:<\/p><ul>\n<li><strong>Economic Committee: <\/strong>Ahmed Samir (deputy head of the Sixth of October Investors Association, returning)<\/li>\n<li><strong>Industry Committee: <\/strong>Moataz Mohamed Mahmoud (former head of the Housing Committee)<\/li>\n<li><strong>Planning and Budgeting Committee: <\/strong>Fakhry El Fiqi (former IMF advisor and CBE board member, new);<\/li>\n<li><strong>Transport and Communications Committee<\/strong> Alaa Abed (former chair of the Human Rights Committee, new)<\/li>\n<li><strong>Education Committee <\/strong>Sami Hashem (returning)<\/li>\n<li><strong>Housing and Utilities Committee<\/strong> Emad Saad Hammouda (returning)<\/li>\n<li><strong>Tourism and Civil Aviation Committee<\/strong> Nora Ali (former president of the Federation of Tourism Chambers)<\/li>\n<li><strong>Constitutional and Legislative Affairs Committee <\/strong>Ibrahim El Heneidi (former legal and parliamentary affairs minister, new)<\/li>\n<li><strong>Health Affairs Committee <\/strong>Ashraf Hatem (former health minister, new)<\/li>\n<\/ul><p><strong>Some committees started meeting yesterday <\/strong>and many will convene today to start structuring their legislative agendas. Look for the National Defense Committee to start chewing over amendments to the Traffic Act, <a href=\"https:\/\/bit.ly\/39B9R9r\">Masrawy<\/a> reported without going into detail.<\/p><p><strong>PSA- We\u2019re looking at wind with a good chance of a sand storm today<\/strong> \u2014 and the possibility of a shower this afternoon in the capital city. Look for a daytime high of 19\u00b0C and an overnight low of 9\u00b0C as we settle in for two weeks of cool weather, according to our favourite weather app.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a><strong> MEANWHILE- <\/strong><strong>Businesses have until 31 January to file their wage tax returns for 2020<\/strong>, Egyptian Tax Authority head Reda Abdel Qader said in <a href=\"https:\/\/ent.news\/2021\/1\/%D8%A8%D9%8A%D8%A7%D9%86-%D8%B5%D8%AD%D9%81%D9%89.pdf\">a statement (pdf)<\/a>. Companies will have to file two separate tax returns: One covering the old income tax bands during 1H2020, and one for 2H2020 when the exemption threshold <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08076d9e-b48c-46f1-abe8-d1cc6fb85912\">was raised to EGP 9k<\/a> and a new top rate was introduced for those earning EGP 400k or more.<\/p><p><strong>REMINDER- Are you a sole trader? Do you have income from outside where you hang your hat during daytime hours? <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49c27beb-28c8-4d7c-bd05-b2113f428a5d\">You need<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49c27beb-28c8-4d7c-bd05-b2113f428a5d\">to file your taxes electronically<\/a><\/strong><strong> this year <\/strong>just like businesses do. Don\u2019t sweat it if you have a day job with a company: Salaried employees in Egypt do not file income tax returns, but have income taxes deducted at source by their employer, which is responsible for remitting the wage taxes to the state.<\/p><p><strong>Banks are being instructed to give their clients a rundown on tourism support <\/strong><strong>initiatives to allow more businesses to benefit<\/strong>, the Central Bank of Egypt (CBE) said in <a href=\"https:\/\/www.cbe.org.eg\/ar\/Pages\/HighlightsPages\/Circular-dated-13-January-2021-regarding-informing-tourism-sector.aspx\">a circular<\/a> last week. The central bank has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b415495e-446b-4f30-9342-71f8caae67d8\">provided<\/a> the tourism sector with discounted loans and debt repayment holidays as a way to support the industry through the pandemic.<\/p><p><strong>Russia will increase the frequency of flights between Cairo and Moscow to five per <\/strong><strong>week<\/strong>, <a href=\"http:\/\/gate.ahram.org.eg\/News\/2560802.aspx\">Ahram Gate<\/a> reported yesterday, citing Russian media. The report didn\u2019t disclose when the new flight schedule would begin.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>GLOBAL NEWS you need to know-<\/strong><\/p><p><strong>It\u2019s inauguration week in the US of A: <\/strong>Security is tight in Washington, DC, and many state capitals ahead of the Wednesday inauguration of President-elect Joe Biden. Agent Orange will disappear from DC prior to the 12 noon Eastern time ceremony. Look for Biden to sign <a href=\"https:\/\/www.reuters.com\/article\/us-usa-biden-policies\/biden-plans-roughly-a-dozen-day-one-executive-actions-aide-idUSKBN29L0S9\">about a dozen executive orders<\/a> on his first day in office as he promises \u201c10 days of action\u201d on \u201cfour overlapping and compounding crises\u201d including <strong>the pandemic, the economy, climate change and racial equality. <\/strong><\/p><p><strong>Appointments to watch: <\/strong>Journalist turned activist and diplomat <a href=\"https:\/\/twitter.com\/SamanthaJPower\/status\/1349363722041454597?s=20\">Samantha Power is set to<\/a> <a href=\"https:\/\/twitter.com\/SamanthaJPower\/status\/1349363722041454597?s=20\">become the head of USAID<\/a>, while Gary Gensler \u2014 a regulator who the Wall Street Journal calls <a href=\"https:\/\/www.wsj.com\/articles\/an-old-foe-of-banks-could-be-wall-streets-new-top-cop-11610773211\">\u201can old foe of banks\u201d<\/a> \u2014 is apparently in line to become head of the Securities and Exchange Commission. Want more on this and the<strong> mega-stimulus Biden will announce? Go read the very solid <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2021\/01\/16\/us\/politics\/biden-administration-executive-action-legislation.html?action=click&amp;module=Spotlight&amp;pgtype=Homepage\">Biden seeks quick start with executive actions and aggressive legislation<\/a><\/strong> in the NYT.<\/p><p><strong>WhatsApp has delayed a planned update to its privacy terms to 15 May<\/strong> from 8 February to give users more time to review the new terms, the company said in a <a href=\"https:\/\/blog.whatsapp.com\/?lang=en\">blog post<\/a>, after the announcement of the changes earlier this month caused a furor that sent users scrambling to rival messaging apps like Signal.<\/p><p><strong>iSheep, that sound is your wallet weeping: <\/strong>Apple is studying the possibility of a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-15\/apple-considers-foldable-iphone-minor-changes-planned-for-2021-models?srnd=premium-middle-east\">folding<\/a><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-15\/apple-considers-foldable-iphone-minor-changes-planned-for-2021-models?srnd=premium-middle-east\">iPhone<\/a> (not this year), is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-15\/apple-macbook-pros-with-magsafe-return-in-the-works?sref=mmeFTDW1\">bringing back MagSafe for updated MacBook Pros<\/a> as it plans to give them new Apple Silicon processors (this year) and <a href=\"https:\/\/www.macrumors.com\/2021\/01\/15\/new-macbook-pro-models-magsafe-ports\/\">a new look<\/a>, and is going to roll out its <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-15\/apple-plans-redesigned-imac-new-mac-pro-smaller-mac-pro-cheaper-monitor?sref=mmeFTDW1\">first redesign of the iMac in a decade<\/a> (also this year).<\/p><p><strong>MARKET WATCH-<\/strong><strong> The US\u2019 main stock indices were in the red on Friday<\/strong>: Energy stocks sold off amid a regulatory probe into Exxon Mobil, while investors exited banks despite reporting better-than-expected earnings, reports <a href=\"https:\/\/www.reuters.com\/article\/us-usa-stocks\/wall-street-closes-lower-as-banks-energy-shares-tumble-idUSKBN29K1BY?il=0\">Reuters<\/a>. The S&amp;P 500 closed the day down 0.7%, while the Dow Jones lost 0.6% and the tech-heavy Nasdaq shed 0.9%.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p>The Cairo Center for African Studies is hosting a <strong>webinar on the economic impact of <\/strong><strong>covid-19 and policy responses in Africa<\/strong> on Tuesday, 19 January. Speaking at the event are World Bank Country Director for Egypt, Yemen, and Djibouti <strong>Marina Wes<\/strong>, IMF Senior Representative in Egypt <strong>Said Bakhache<\/strong>, and Institute of International Economic Finance Deputy Chief Economist <strong>Elina Ribakova<\/strong>. You can check out the flyer and register for the webinar <a href=\"https:\/\/ent.news\/2021\/1\/CCAS-Jan19-Webinar.pdf\">here (pdf)<\/a>.<\/p><p><strong>The 2021 Men\u2019s Handball World Championship continues today:<\/strong> Egypt\u2019s final group game will be played against Sweden tomorrow at 19:00. The Pharaohs qualified for the main round of the competition after yesterday <a href=\"https:\/\/www.kingfut.com\/2021\/01\/16\/egypt-qualify-main-round-world-cup\/\">beating North Macedonia 38-19<\/a>. This followed a 35-29 victory over Chile in the opening game of the tournament last Wednesday.<\/p><p><strong>Our next long weekend is in less than two work weeks.<\/strong> The nation is expected to take Thursday, 28 January as a holiday in observance of Police \/ Revolution Day, which falls on Monday, 25 January.<\/p><p><strong>We then settle in for our long holiday drought: Your next day off will be mid-Ramadan. <\/strong>The Holy Month should start on or about Monday, 13 April.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2021-mens-handball-world-championship\/\">2021 Men\u2019s Handball 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photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559278\" class=\"content-area-description single-story post-559278 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/SomabayEF_Enterprise_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559279\" 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=\"559279\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/bank-abc-wins-bid-for-blom-egypt\/\">\r\n                            Bank ABC wins bid for Blom Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/bank-abc-wins-bid-for-blom-egypt\/184-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/184.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"184.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/184.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/184.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559279\" class=\"content-area-description single-story post-559279 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-bahrain tag-bank-abc tag-banking tag-blom-bank tag-enterpriseam tag-lebanon tag-ma-watch tag-real-estate tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Bahrain\u2019s Bank ABC will purchase the Egypt unit of Lebanon\u2019s Blom Bank for <\/strong><strong>USD 480 mn<\/strong> in a transaction that includes the bank\u2019s physical and non-physical assets and customer accounts, <a href=\"https:\/\/www.reuters.com\/article\/egypt-banks-int\/bank-abc-acquires-blom-bank-egypt-for-480-million-sources-idUSKBN29J1TX\">Reuters<\/a> reports, citing unnamed banking sources. The Bahraini bank already has a presence in Egypt with Bank ABC Egypt, in which it owns a 93% stake, according to its website.<\/p>\n<p><strong>Five months in the making:<\/strong> Rumors that Bank ABC was interested in Blom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a71b193-2d31-407a-b433-c44a237d218c\">hit the local press<\/a> in August, just a couple of weeks after the Lebanese bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c516247-c57d-49ad-a7bc-e20dc516e2b5\">confirmed that it was looking to leave Egypt<\/a>. After several months of speculation about whether fellow GCC lender <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37cf47b3-8980-4803-8356-afb514ed27de\">Emirates NBD would compete for the acquisition<\/a>, ABC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d980aea2-ce25-489e-be05-bd185c866831\">said<\/a> in December that it was in exclusive talks to acquire the Lebanese bank\u2019s 99.42% share in its Egypt business.<\/p>\n<p><strong>Keep an eye out for:<\/strong> First Abu Dhabi Bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd019ebf-b81c-424c-91ac-5c94376ca2e6\">potential USD 700 mn<\/a> acquisition of Bank Audi Egypt, which has been in the works since the two resumed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23918bcf-5e12-4ca5-b57e-940723993ef5\">negotiations in September<\/a> that had been stalled because of covid-19.<\/p>\n<p><strong>Made in Lebanon: <\/strong>Both Blom and Bank Audi are exiting Egypt due to a near-collapse of the Lebanese financial system. Years of reckless lending left the banking sector paralysed after protests in late 2019 triggered a run on the LBP and capital flight.<\/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\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/blom-bank\/\">Blom Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"559281\" 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=\"559281\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/siemens-puts-pen-to-paper-for-high-speed-electric-rail\/\">\r\n                            Siemens puts pen to paper for high-speed electric rail                        <\/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\/01\/17\/siemens-puts-pen-to-paper-for-high-speed-electric-rail\/\" 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 entire network is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">expected to span nearly 1,000 km<\/a>, while the project\u2019s first 460-km phase will connect Ain Sokhna to Alamein via the new capital.<\/p>\n<p><strong>Don\u2019t be surprised to see that USD 23 bn figure rise:<\/strong> The first phase of the project is expected to cost around USD 8.2 bn, Transport Minister Kamel El Wazir told El Hekaya\u2019s Amr Adib last night (<a href=\"https:\/\/www.youtube.com\/watch?v=S4GINIStcfY\">watch, runtime: 34:12<\/a>), up from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/07472b1d-57c8-4901-ad4d-ffb0e97c4c2e\">USD 6 bn<\/a> previously floated.<\/p>\n<p><strong>The first phase in detail:<\/strong> Siemens will be responsible for all things electrico-mechanical. This includes installing the signaling system, power infrastructure and a control center, as well as producing 34 passenger and 10 goods carriages. Siemens will be paid USD 3 bn on a 15-year maintenance contract, and payments will only be due six years after the project has begun, El Wazir said. Local companies will receive USD 5.2 bn for the construction (although arrears to local companies are open to negotiation), the minister said.<\/p>\n<p><strong>French public transport consultant Systra is also on board, <\/strong>and has already worked with the government to estimate cost metrics, El Wazir noted.<\/p>\n<p><strong>What\u2019s the current status? <\/strong>Planning and surveying work as well as initial work on stations and fences has already been completed. The first phase is expected to take two years to complete.<\/p>\n<p><strong>What about the rest of the network?<\/strong> The whole network will be built across four phases: one connecting Ain Sokhna and Alamein, a second from Alamein to Marsa Matrouh, a third between Hurghada, Safaga, Qena and Luxor, and a fourth running from the Sixth of October further west, El Wazir added. The planned rail network will support high- and very-high speeds of up to 250 km per hour.<\/p>\n<p style='font-size: 18px;font-weight: bold' >Green hydrogen coming to an energy facility near you?<\/p>\n<p><strong>Siemens will also work on a pilot project to produce <\/strong><strong>green hydrogen in Egypt<\/strong> after signing a MoU with the Electricity Ministry on Thursday, according to a <a href=\"https:\/\/www.sis.gov.eg\/Story\/215142\/%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%88%D8%B3%D9%8A%D9%85%D9%8A%D9%86%D8%B2-%D9%8A%D9%88%D9%82%D8%B9%D8%A7%D9%86-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8B%D8%A7-%D9%84%D8%A8%D8%AF%D8%A1-%D8%AF%D8%B1%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D9%84%D8%AA%D8%AC%D8%B1%D9%8A%D8%A8%D9%8A-%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%A7%D9%84%D8%A3%D8%AE%D8%B6%D8%B1?lang=ar\">press release<\/a>. Egypt is currently exploring green hydrogen as an alternative energy source, and will be integrated into the government\u2019s 2035 energy strategy, according to the statement. Siemens has partnered with the Egyptian government on a number of recent energy projects, including the world\u2019s <a href=\"https:\/\/new.siemens.com\/eg\/en\/company\/topic-areas\/egypt-megaproject\/news.html\">three largest combined-cycle power plants<\/a> a few years back, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dccf473a-1577-4243-9e1b-f271fb01c228\">New Administrative Capital\u2019s national electricity control center<\/a> and an upcoming <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bba779b5-fcf1-4c42-ab96-3c83c234d3e1\">500 MW wind power plant<\/a>.<\/p>\n<p><strong>DID YOU KNOW?<\/strong> Green hydrogen, which is produced using renewable sources of energy, is distinct from grey hydrogen, which is made from burning methane, thus emitting carbon into the atmosphere. Switching to green hydrogen will be important if countries are to meet the Paris climate goals and lower their carbon footprints.<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/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\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kamel-el-wazir\/\">Kamel El Wazir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-shaker\/\">Mohamed Shaker<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559283\" 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=\"559283\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/\">\r\n                            WHO wants private labs to disclose test figures                        <\/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\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/\" 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\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/')\">\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\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/\">\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=WHO wants private labs to disclose test figures&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/\">\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\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/&title=WHO wants private labs to disclose test figures\">\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=WHO+wants+private+labs+to+disclose+test+figures+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fwho-wants-private-labs-to-disclose-test-figures%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\/01\/17\/who-wants-private-labs-to-disclose-test-figures\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559283\" class=\"content-area-description single-story post-559283 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-uk tag-us tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/292523282298291\/\">reported<\/a><\/strong><strong> 887 new covid-19 infections yesterday<\/strong>, up from 879 the day before. Egypt has now disclosed a total of 155,507 confirmed cases of covid-19. The ministry also reported 54 new deaths, bringing the country\u2019s total death toll to 8527.<\/p>\n<p><strong>The World Health Organization (WHO) wants labs in Egypt to disclose the number <\/strong><strong>of covid-19 tests they administer<\/strong> and their method of testing. There is a need for more widespread testing to yield accurate daily case numbers, Regional Programme Director Rana Hajjeh said on the airwaves (<a href=\"https:\/\/bit.ly\/3qq3cWq\">watch, runtime: 20:56<\/a>).<\/p>\n<p>Meanwhile: <strong>The Armed Forces <\/strong><strong><a href=\"https:\/\/www.egypttoday.com\/Article\/1\/96502\/Armed-Forces%E2%80%99-specialized-departments-sterilize-crowded-areas-in-Cairo\">continue to disinfect<\/a><\/strong><strong> public areas<\/strong>, including metro and bus stations and the area around Al Hussein and Al Azhar mosques in the capital city.<\/p>\n<p><strong>Egypt is prepared to manufacture and ship vaccines to Africa and the Middle East<\/strong>, and is willing to share its e-system for tracking vaccine recipients with countries that cannot develop their own, Health Minister Hala Zayed <a href=\"https:\/\/english.aawsat.com\/home\/article\/2743261\/egypt-seeks-manufacture-covid-19-vaccines-africa-middle-east\">said during a meeting<\/a> of the Assembly of Heads of State and Government of the African Union. Zayed also said Egypt would seek to join the African Vaccine Acquisition Task Team (AVATT), which aims to boost African countries\u2019 ability to produce and distribute vaccines across the continent.<\/p>\n<p><strong>The Madbouly government hopes to begin a national vaccine rollout <\/strong>in early February, starting with the most at-risk groups.<\/p>\n<p><strong>COVID AROUND THE WORLD-<\/strong><\/p>\n<ul>\n<li><strong>The UAE is racing ahead with its vaccination program<\/strong>, having already delivered 1.7 mn doses to its population of 9.9 mn people, according to <a href=\"https:\/\/www.wsj.com\/articles\/u-a-e-pushes-ahead-with-chinese-covid-19-vaccine-hoping-to-avoid-lockdowns-as-cases-surge-11610792950?mod=searchresults_pos2&page=1\">the Wall Street Journal<\/a>. The GCC country expects to have vaccinated 50% of its population by March.<\/li>\n<li><strong>India has begun the world\u2019s largest vax rollout:<\/strong> The country yesterday began efforts to vaccinate 300 mn people, which will be the world\u2019s largest vaccination program, according to <a href=\"https:\/\/www.cnbc.com\/2021\/01\/16\/india-starts-worlds-largest-covid-19-vaccination-drive.html\">CNBC<\/a>.<\/li>\n<li><strong>The new variant discovered in the UK last year could become the predominant strain in the US by March<\/strong>, with the Centers for Disease Control and Prevention warning the mutant virus is likely to spread rapidly across the country in the coming months, reports <a href=\"https:\/\/www.ft.com\/content\/48acaaf1-8f0b-4d30-b032-5d7637d4105f\">the Financial Times<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"559284\" 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=\"559284\">\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\">OUTLOOK<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/\">\r\n                            No rate cuts soon, Capital Economics predicts                        <\/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\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/\" 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\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/')\">\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\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/\">\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=No rate cuts soon, Capital Economics predicts&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/\">\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\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/&title=No rate cuts soon, Capital Economics predicts\">\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=No+rate+cuts+soon%2C+Capital+Economics+predicts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fno-rate-cuts-soon-capital-economics-predicts%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\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/186.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559285\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/no-rate-cuts-soon-capital-economics-predicts\/186-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/186.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"186.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/186.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/186.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559284\" class=\"content-area-description single-story post-559284 post type-post status-publish format-standard has-post-thumbnail hentry category-outlook tag-capital-economics tag-central-bank-of-egypt tag-enterpriseam tag-inflation tag-outlook 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 Central Bank of Egypt will hold off on resuming its monetary <\/strong><strong>easing cycle \u201cfor much of this year\u201d<\/strong> <strong>due to rising inflation<\/strong>, James Swanston, MENA economist at Capital Economics, wrote in a note on Wednesday. Rising food and fuel costs over the next 6-9 months will prevent the central bank from lowering rates further, but a fall in headline inflation in 4Q \u201cshould open the door\u201d to more rate cuts, he wrote. The research firm expects the CBE to enact 150 bps of cuts by the end of 2022.<\/p>\n<p><strong>Headline inflation will peak at 7% in 3Q2020<\/strong>, at the midpoint of the CBE\u2019s new inflation target of 7% (+\/-2), before falling to the lower bound of the target range until the end of next year, Swanston wrote. Inflation has been gradually rising from near-record lows over the past six months, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/790c7907-afb4-4e0c-9338-260b3db35554\">coming in at 5.7% in November<\/a> before falling back slightly to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0d5a197-b4a0-48fd-9884-ef50416da06e\">5.4% in December<\/a>.<\/p>\n<p><strong>Food inflation will accelerate through the year:<\/strong> Although prices <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0d5a197-b4a0-48fd-9884-ef50416da06e\">fell 1.2% in December<\/a>, this is likely to end as the favorable base effect phases out. This will intensify if the recent pick-up in global prices continues.<\/p>\n<p><strong>Look for fuel prices to rise:<\/strong> Capital Economics expects global crude oil prices to continue rising, which will likely result in the fuel pricing committee raising prices later in the year. The committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b78d6f10-5c2d-40a4-aef9-3e53fb3a5466\">left prices on hold for 1Q2021<\/a> in its first meeting of the year.<\/p>\n<p><strong>The FX rate could settle at EGP 16 \/ USD 1<\/strong> by the end of 2021, from its current rate of EGP 15.60, Capital Economics says. The outfit cites the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">IMF\u2019s latest review of Egypt\u2019s standby loan<\/a> in which they suggested policymakers should allow greater rate flexibility as an indicator the EGP could be slightly overvalued.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-economics\/\">Capital Economics<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/outlook\/\">OUTLOOK<\/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=\"559286\" 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=\"559286\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/please-sir-can-i-have-some-more\/\">\r\n                            Please, sir, can I have some more?                        <\/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\/01\/17\/please-sir-can-i-have-some-more\/\" 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\/01\/17\/please-sir-can-i-have-some-more\/')\">\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\/01\/17\/please-sir-can-i-have-some-more\/\">\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=Please, sir, can I have some more?&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/please-sir-can-i-have-some-more\/\">\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\/01\/17\/please-sir-can-i-have-some-more\/&title=Please, sir, can I have some more?\">\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=Please%2C+sir%2C+can+I+have+some+more%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fplease-sir-can-i-have-some-more%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\/01\/17\/please-sir-can-i-have-some-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/187.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559287\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/please-sir-can-i-have-some-more\/187-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/187.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"187.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/187.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/187.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559286\" class=\"content-area-description single-story post-559286 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-budget-watch tag-cabinet-watch tag-enterpriseam tag-fy-2019-2020-budget tag-legislation-watch tag-madbouly-cabinet tag-personal-status-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Madbouly Cabinet signed off on a EGP 2 bn overdraft for the FY2020-2021 <\/strong><strong>state budget<\/strong> to help finance measures to prop up the economy and certain sectors amid the fallout from the pandemic, according to <a href=\"https:\/\/www.cabinet.gov.eg\/Meeting\/Details\/3596\">a statement<\/a> out after the ministers\u2019 weekly meeting on Thursday. The decision comes as the Finance Ministry announced key figures from the budget\u2019s performance in 1H2020-2021, which Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f51fda6-90fd-4d82-83c1-05f59a067630\">had told us last week<\/a> would determine whether to seek additional spending allowance and amend targets for the current fiscal year.<\/p>\n<p><strong>This isn\u2019t the first time the budget has been extended this year:<\/strong> An <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dd8f2b6-06b5-4500-a5ee-a79006acca53\">EGP 80 bn overdraft<\/a> to pay off state debts <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e860e5d-9373-43e0-9651-9076b1a8e708\">was approved in August<\/a>.<\/p>\n<p><strong>The budget deficit narrowed to 3.6% in 1H FY2020-2021<\/strong>, from 4.1% during the same period in the previous fiscal year, while the primary surplus hit EGP 14 bn, Finance Minister Mohamed Maait said in a <a href=\"https:\/\/bit.ly\/2LXsRGM\">cabinet statement<\/a>. State revenues increased 16% y-o-y, comfortably making up for the 9.9% increase in spending necessitated by the pandemic. Tax revenues rose 10% during the period.<\/p>\n<p><strong>This is a marked improvement from the previous six months:<\/strong> The government suffered a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9d05b02-c4bb-4a14-89ce-788f4e07a5f7\">EGP 115 bn shortfall in tax revenue<\/a> in the previous fiscal year as a result of the economic fallout caused by the pandemic.<\/p>\n<p><strong>Where is the extra spending going?<\/strong> The health sector (+14.7%), the social safety net (+35.8%), and education (+7.4%), Maait said.<\/p>\n<p><strong>ALSO FROM THE CABINET MEETING- The long-awaited Personal Status Act earned a preliminary nod <\/strong>and will be on the ministers\u2019 agenda next week once some additional tweaks are included. The act, which has been with the House of Representatives <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/18\/house-signs-off-on-protest-law-amendments-proposed-amendments-to-personal-status-law\/\">since at least 2017<\/a>, will include changes to matters of marriage and divorce, death, inheritance, and child custody.<\/p>\n<p>Ministers also signed off on:<\/p>\n<ul>\n<li><strong>Funding agreements:<\/strong> A KWD 5.5 mn agreement with the Kuwait Fund for Arab Economic Development to set up two water treatment facilities and a EUR 1.1 bn financing package from the European Investment Bank for public transport projects;<\/li>\n<li><strong>Wind farm:<\/strong> Signing a power purchasing agreement for the 500 MW BOO wind farm in Gulf of Suez constructed by an Engie-Toyota-Orascom construction;<\/li>\n<li><strong>Zamalek infrastructure:<\/strong> Setting up a specialized engineering committee to assess the two buildings in Zamalek that saw structural problems thought to be caused by the construction of the Cairo Metro.<\/li>\n<\/ul>\n<p><strong>OVER IN THE HOUSE- <\/strong>Newly-seated committees in the House of Representatives began work at the end of last week, having elected their heads on Thursday. The House Economic Committee has signed off on a USD 9.6 mn <a href=\"https:\/\/bit.ly\/39KvvIu\">grant from Japan<\/a> to support socioeconomic development, the Transport Committee has given a nod to an EUR 3 mn <a href=\"https:\/\/almalnews.com\/%D9%86%D9%82%D9%84-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D8%AA%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D8%AD%D8%AF%D9%8A\/\">grant from the EBRD<\/a> for a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7626ca3e-5916-40d1-b95d-87da6b792742\">signaling and control project<\/a> on Cairo Metro Line 1, and an EUR 200k grant from the Spanish Agency for International Development to support <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbf12193-9065-496a-b671-56cc762f68d8\">women working in tourism<\/a> has <a href=\"https:\/\/bit.ly\/2NeC3Yh\">cleared the House Tourism Committee<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fy-2019-2020-budget\/\">FY 2019-2020 budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/personal-status-act\/\">Personal Status Act<\/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=\"559288\" 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=\"559288\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/\">\r\n                            EBRD still \u2764 Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EBRD still \u2764 Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/&title=EBRD still \u2764 Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EBRD+still+%E2%9D%A4+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Febrd-still-%25e2%259d%25a4-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ebrd-still-%e2%9d%a4-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559288\" class=\"content-area-description single-story post-559288 post type-post status-publish format-standard hentry category-investment-watch tag-china tag-ebrd tag-enterpriseam tag-investment-watch tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egypt was the top destination for EBRD investment in SEMED for third consecutive year:<\/strong> Egypt accounted for more than EUR 1 bn of the EUR 2.2 bn of financing the European Bank for Reconstruction and Development (EBRD) provided to the southern and eastern Mediterranean (SEMED) last year, the bank said in <a href=\"https:\/\/ent.news\/2021\/1\/EBRD-2020-SEMED-investments.pdf\">a statement (pdf)<\/a>. This is the third year running that Egypt was the top market for investment from the EBRD in the SEMED region. The investments include a combined EUR 784 mn in liquidity lines to banks for on-lending to SMEs, a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58c6b970-7058-4b50-896a-858f817ad7a9\">USD 12 mn loan<\/a> to Al Dau Al Haram to develop the Hyatt Regency hotel, and a USD 4.2 mn loan to Taqa Arabia\u2019s renewable energy subsidiary, Taqa PV, for its green private-to-private project.<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS-<\/strong> <strong>Nine Chinese companies are planning to invest USD 90 mn in Egypt in 2021<\/strong>, Han Bing, economic and trade adviser at the Chinese Embassy in Cairo said, without specifying the companies, reports <a href=\"https:\/\/alborsaanews.com\/2021\/01\/14\/1412965\">the local press<\/a>. Negotiations are currently ongoing between Egyptian and Chinese companies for cooperation in medical supplies, steel, textiles, transportation, new energy, recycling, and water waste treatment.<\/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\/ebrd\/\">EBRD<\/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\/smes\/\">SMEs<\/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=\"559289\" 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=\"559289\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CURRENT AFFAIRS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/\">\r\n                            US designates Egypt-based Islamist terror group as foreign terrorist organization                        <\/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\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/\" 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\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/')\">\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\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/\">\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=US designates Egypt-based Islamist terror group as foreign terrorist organization&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/\">\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\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/&title=US designates Egypt-based Islamist terror group as foreign terrorist organization\">\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=US+designates+Egypt-based+Islamist+terror+group+as+foreign+terrorist+organization+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fus-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization%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\/01\/17\/us-designates-egypt-based-islamist-terror-group-as-foreign-terrorist-organization\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559289\" class=\"content-area-description single-story post-559289 post type-post status-publish format-standard hentry category-current-affairs tag-current-affairs tag-daesh tag-enterpriseam tag-legislation tag-national-security tag-terrorism tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The US has ramped up sanctions against Egypt-based terrorist group Hasm, <\/strong>designating the group as a foreign terrorist organization (FTO), the <a href=\"https:\/\/www.state.gov\/state-department-terrorist-designation-reviews-and-amendments\/\">US State Department said<\/a> on Thursday. The Ikhwan splinter group was responsible for terror attacks including a 2019 <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/cairo-explosion-caused-by-terrorist-car-bomb-interior-ministry\/\">car bomb<\/a> outside of the National Cancer Institute in downtown Cairo, which killed 20, as well as a 2017 <a href=\"https:\/\/enterprise.press\/stories\/2017\/10\/02\/hasm-claims-explosion-at-myanmars-embassy\/\">attack<\/a> on Myanmar\u2019s embassy in Cairo. The statement added that two of Hasm\u2019s leaders are currently based in Turkey, a popular exile destination for Ikhwanis.<\/p>\n<p><strong>What are the sanctions now in place? <\/strong>The FTO designation means Hasm and its leadership will be denied any resources and their US properties and interests will be blocked. All US citizens will be prohibited to engage in any transactions as it is now a federal crime to knowingly provide, or attempt or conspire to provide, material support or resources to Hasm.<\/p>\n<p><strong>The move got attention on the airwaves last night: <\/strong>Al Hayah Al Youm\u2019s Lobna Assal gave it a segment (<a href=\"https:\/\/www.youtube.com\/watch?v=nYv59iYFv1E\">watch, runtime: 8:13<\/a>) while Kelma Akhira\u2019s Lamees El Hadidi gave it extended coverage (<a href=\"https:\/\/www.youtube.com\/watch?v=fvz5SAeRaGU\">watch, runtime: 42:14<\/a>).<\/p>\n<p><strong>ALSO IN DIPLOMACY- <\/strong><strong>US aid to Egypt isn\u2019t on Trump\u2019s chopping block after all:<\/strong> The outgoing president last month slammed the US foreign aid budget and singled out the military assistance given to Egypt, complaining that Cairo would buy arms from Moscow with the money. But according to <a href=\"https:\/\/www.whitehouse.gov\/briefings-statements\/text-letter-speaker-house-representatives-president-senate-011421\/\">the letter<\/a> sent to Congress last week Egypt\u2019s aid seems to have been ring fenced from cuts to foreign spending. The White House was originally intending to cut both military and economic aid to Cairo but was persuaded against it following the intervention of some of the president\u2019s advisors, <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2021\/01\/trump-egypt-aid-cut-military.html\">Al Monitor<\/a> reports.<\/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\/current-affairs\/\">CURRENT AFFAIRS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/daesh\/\">Daesh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559290\" 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=\"559290\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/no-nuca-fines-until-march\/\">\r\n                            No NUCA fines until March                        <\/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\/01\/17\/no-nuca-fines-until-march\/\" 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\/01\/17\/no-nuca-fines-until-march\/')\">\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\/01\/17\/no-nuca-fines-until-march\/\">\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=No NUCA fines until March&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/no-nuca-fines-until-march\/\">\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\/01\/17\/no-nuca-fines-until-march\/&title=No NUCA fines until March\">\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=No+NUCA+fines+until+March+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fno-nuca-fines-until-march%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\/01\/17\/no-nuca-fines-until-march\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559290\" class=\"content-area-description single-story post-559290 post type-post status-publish format-standard hentry category-real-estate tag-enterpriseam tag-new-urban-communities-authority tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A grace period on late payment fines for properties developed by the New Urban <\/strong><strong>Communities Authority (NUCA) is now ending on 15 March<\/strong>, instead of last month, the authority said in <a href=\"http:\/\/newcities.gov.eg\/dis_N_17-3-2019.aspx?ID=1979\">a statement<\/a>. The grace period applies to homes, offices, retail space, and plots of undeveloped land, and the exemption is only applicable to those who pay all their installments in full. As was the case with the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a04bd428-a304-4929-ae24-59410777f8fd\">initial grace period<\/a>, individuals whose ownership deeds have been scrapped due to late payment but are still in possession of the property are also eligible for the waiver, but must agree to forego any legal action against NUCA.<\/p>\n<p><strong>MEANWHILE- A syndicate of five domestic banks signed off on an EGP 1.3 bn loan to Talaat Moustafa<\/strong><strong> subsidiary the <\/strong><strong>Arab Company for Projects and Urban Development <\/strong>to fund the development of its Celia residential project in the new administrative capital, <a href=\"https:\/\/bit.ly\/38Pgy8H\">Al Mal<\/a> reports. The National Bank of Egypt, Arab African International Bank, Abu Dhabi Commercial Bank, Arab Bank, and Suez Canal Bank are all participating, with NBE and AAIB serving as lead arrangers.<\/p>\n<p><strong>ALSO- <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/concrete-plus-eg\/\">Concrete Plus Engineering and Construction<\/a><\/strong><strong> (CPEC) has upped its stake in Sodic <\/strong><strong>to 5% from 4.93%<\/strong>, it said in a <a href=\"https:\/\/ent.news\/2021\/1\/sodic-concrete-stake.pdf\">regualtory filing (pdf)<\/a>. A group including CPEC, Act Financial and Hassan Allam Properties now owns a combined 14.98% in the upmarket real estate developer.<\/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\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559291\" 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=\"559291\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/559291\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559291\" class=\"content-area-description single-story post-559291 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\/2020\/11\/SODIC-Karmell-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=\"559292\" 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=\"559292\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/earnings-watch-cira-qnb-al-ahli\/\">\r\n                            Earnings Watch: CIRA, QNB Al Ahli                        <\/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\/01\/17\/earnings-watch-cira-qnb-al-ahli\/\" 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\/01\/17\/earnings-watch-cira-qnb-al-ahli\/')\">\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\/01\/17\/earnings-watch-cira-qnb-al-ahli\/\">\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=Earnings Watch: CIRA, QNB Al Ahli&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/earnings-watch-cira-qnb-al-ahli\/\">\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\/01\/17\/earnings-watch-cira-qnb-al-ahli\/&title=Earnings Watch: CIRA, QNB Al Ahli\">\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=Earnings+Watch%3A+CIRA%2C+QNB+Al+Ahli+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fearnings-watch-cira-qnb-al-ahli%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\/01\/17\/earnings-watch-cira-qnb-al-ahli\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559292\" class=\"content-area-description single-story post-559292 post type-post status-publish format-standard hentry category-earnings-watch tag-cira-education tag-earnings-watch tag-enterpriseam tag-qnb-alahli wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Net profit at private sector edu<\/strong><strong>cation outfit CIRA grew <\/strong><strong>12% y-o-y to EGP 122.5 mn <\/strong>in the first quarter of their 2020-2021 fiscal year, which begins in September, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/1\/CIRA-Earnings-1Q21-E.pdf\">earnings release (pdf)<\/a>. Revenues rose 18% y-o-y to EGP 370 mn, the bulk of which came from tuition fees which increased 25% y-o-y. Top line growth was driven by an uptick in enrollment and the inauguration of four new faculties at its Badr University Cairo, which helped CIRA grow its student capacity 46% y-o-y during the quarter and grew the university\u2019s enrollment 26% y-o-y.<\/p>\n<p><strong>During the quarter, CIRA also successfully issued its first EGP 600 mn sukuk<\/strong>, the proceeds of which will be used to finance a number of current and future projects. EFG Hermes acted as the sole financial advisor, global coordinator, and bookrunner on the issuance.<\/p>\n<p><strong>Looking ahead:<\/strong> CIRA will begin constructing a Futures language school by the end of January on a land plot it purchased in Sohag last August, and expects to begin campus activities by the end of September 2021 as construction is moving ahead. The admissions process has also kicked off for two upcoming K-12 schools: British Columbia Canadian International School West and the Saxony International School in Orascom Construction\u2019s O West.<\/p>\n<p><strong>QNB Al Ahli\u2019s net profit fell 12% y-o-y in 2020 to EGP 7.49 bn<\/strong> compared to EGP 8.52 bn in 2019, according to a <a href=\"https:\/\/www.qnbalahli.com\/sites\/qnb\/qnbegypt\/document\/en\/enQ42020PressRelease\">bourse filing (<\/a><a href=\"https:\/\/www.qnbalahli.com\/sites\/qnb\/qnbegypt\/document\/en\/enQ42020PressRelease\">pdf<\/a><a href=\"https:\/\/www.qnbalahli.com\/sites\/qnb\/qnbegypt\/document\/en\/enQ42020PressRelease\">)<\/a>. The bank\u2019s net interest income grew 6% y-o-y to EGP 14.64 bn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/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=\"559293\" 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=\"559293\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ambassador-alaa-youssef-tapped-as-unesco-permanent-rep-elena-panova-is-un-resident-coordinator-in-egypt\/\">\r\n                            Ambassador Alaa Youssef tapped as UNESCO permanent rep; Elena Panova is UN resident coordinator in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ambassador-alaa-youssef-tapped-as-unesco-permanent-rep-elena-panova-is-un-resident-coordinator-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Elena Panova is UN resident coordinator in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ambassador+Alaa+Youssef+tapped+as+UNESCO+permanent+rep%3B+Elena+Panova+is+UN+resident+coordinator+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fambassador-alaa-youssef-tapped-as-unesco-permanent-rep-elena-panova-is-un-resident-coordinator-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/ambassador-alaa-youssef-tapped-as-unesco-permanent-rep-elena-panova-is-un-resident-coordinator-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559293\" class=\"content-area-description single-story post-559293 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-moves tag-unesco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Bulgaria\u2019s <\/strong><strong><a href=\"https:\/\/tm.linkedin.com\/in\/elena-panova-6995384\">Elena Panova<\/a><\/strong> has been appointed as the <strong>United Nations\u2019 Resident <\/strong><strong>Coordinator in Egypt<\/strong>, the UN information center in Cairo <a href=\"https:\/\/www.un.org\/press\/en\/2021\/sga2012.doc.htm\">announced<\/a> on its website. Panova previously served as resident coordinator in Turkmenistan, and has specific experience in government and private sector funding.<\/p>\n<p><strong>Egypt\u2019s ambassador to France Alaa Youssef is now the nation\u2019s permanent <\/strong><strong>representative at UNESCO<\/strong> after submitting his credentials to UNESCO Director General Audrey Azoulay in Paris earlier this week, <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5027765597295346\">the Foreign Ministry<\/a> announced at the end of last week.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/last-nights-talk-shows-on-17-january-2021\/&title=Last Night\u2019s Talk Shows on 17 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+17+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Flast-nights-talk-shows-on-17-january-2021%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\/01\/17\/last-nights-talk-shows-on-17-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559295\" class=\"content-area-description single-story post-559295 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-egypt-iron-steel tag-enterpriseam tag-last-nights-talk-shows tag-public-sector wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Public Enterprises Ministry\u2019s decision last week to liquidate Egypt Iron & Steel<\/strong><strong> dominated proceedings on the airwaves last night:<\/strong> Ala Mas\u2019ouleety\u2019s Ahmed Moussa made his opinions on the proposed liquidation of Egypt Iron & Steel clear last night, criticizing Public Enterprises Minister Hisham Tawfik\u2019s decision to finally call it a day on loss-making company. Among those invited to the party was MP Mostafa Bakry, who accused the minister of failing to modernize the company on purpose and called on the president to intervene (<a href=\"https:\/\/www.youtube.com\/watch?v=slmty15SbK4\">watch, runtime: 14:03<\/a>).<\/p>\n<p><strong>SMART POLICY-<\/strong> Speaking to Moussa later in the show, Tawfik denied that he intentionally liquidated the company and said that its outdated technology meant it was no longer commercially viable. The decision, he said, was a pragmatic one and urged detractors not to get emotional <a href=\"https:\/\/www.youtube.com\/watch?v=YNDv2ZQtXA4\">(watch, runtime: 31:55)<\/a>. Kelma Akhira\u2019s Lamees El Hadidi also devoted a segment of her show to the topic (<a href=\"https:\/\/www.youtube.com\/watch?v=XPp8UZpWBE4\">watch, runtime: 27:25<\/a>).<\/p>\n<p><strong>Siemens\u2019 participation in the national electric rail project and the US designation of Hasm as a terrorist group<\/strong> also got a lot of attention from the nation\u2019s talking heads last night. We have the details on both of these stories, above.<\/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\/egypt-iron-steel\/\">Egypt Iron &amp; Steel<\/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\/public-sector\/\">public sector<\/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=\"559296\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559297\" 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=\"559297\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/egypt-in-the-news-on-17-january-2021\/\">\r\n                            Egypt in the News on 17 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/egypt-in-the-news-on-17-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/egypt-in-the-news-on-17-january-2021\/')\">\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\/01\/17\/egypt-in-the-news-on-17-january-2021\/\">\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 in the News on 17 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/egypt-in-the-news-on-17-january-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/egypt-in-the-news-on-17-january-2021\/&title=Egypt in the News on 17 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+17+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fegypt-in-the-news-on-17-january-2021%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\/01\/17\/egypt-in-the-news-on-17-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559297\" class=\"content-area-description single-story post-559297 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-agriculture tag-arab-spring tag-egyptology tag-enterpriseam tag-history tag-social-media tag-soviet-union tag-technology tag-tiktok wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Coverage of the 10-year anniversary of the Arab Spring is still going strong<\/strong>, with the <a href=\"https:\/\/www.ft.com\/content\/b914d4e6-7b90-411c-a378-8252b3f47797\">Financial<\/a><a href=\"https:\/\/www.ft.com\/content\/b914d4e6-7b90-411c-a378-8252b3f47797\">Times<\/a> profiling activists in Egypt, Tunisia, Yemen, Libya and Syria a decade after the uprisings, taking stock of what has been gained and lost.<\/p>\n<p><strong>Also making headlines: <\/strong>The latest in the <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-court-socialmedia\/egyptian-women-jailed-over-tiktok-posts-to-face-trafficking-charges-idUSKBN29K26A\">TikTok saga<\/a> (two influencers whose sentences were overturned last week remain in jail, now on charges of human trafficking), the <a href=\"https:\/\/apnews.com\/article\/egypt-dams-floods-2d8d3576bc1ad9e8101bec3fd2c4f22a\">50-year anniversary of the Aswan Dam<\/a>, and <a href=\"https:\/\/www.nationalgeographic.com\/history\/magazine\/2021\/01-02\/napoleon-military-defeat-egypt-yielded-victory-history\/\">National Geographic<\/a>\u2019s latest on Egyptology as a field.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-spring\/\">Arab Spring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptology\/\">Egyptology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-media\/\">social media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/soviet-union\/\">Soviet Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tiktok\/\">Tiktok<\/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=\"559298\" 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=\"559298\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/also-on-our-radar-on-17-january-2021\/\">\r\n                            Also on our radar on 17 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/also-on-our-radar-on-17-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/also-on-our-radar-on-17-january-2021\/')\">\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\/01\/17\/also-on-our-radar-on-17-january-2021\/\">\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=Also on our radar on 17 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/also-on-our-radar-on-17-january-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/also-on-our-radar-on-17-january-2021\/&title=Also on our radar on 17 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Also+on+our+radar+on+17+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Falso-on-our-radar-on-17-january-2021%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\/01\/17\/also-on-our-radar-on-17-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559298\" class=\"content-area-description single-story post-559298 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-central-bank-of-egypt tag-commodities tag-enterpriseam tag-housing-ministry tag-social-welfare tag-takaful-and-karama tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Some 25k stores and cafes have been temporarily shut down for not complying with <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">new<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">seasonal opening hours<\/a><\/strong> that went into effect on 1 December 2020, according to a Local Development Ministry <a href=\"http:\/\/bit.ly\/3qwUhTb\">statement<\/a>. Winter hours require shops to close at 10pm and restaurants and cafes at midnight. Summer hours start on the last Thursday of April (mid-Ramadan this year) and winter hours on the last Thursday of September. We have more on the hours <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">here<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Arabia Investment Holdings<\/strong> <a href=\"https:\/\/ent.news\/2021\/1\/AIH-Treasury-Shares-Sale-Press-Release_English.pdf\">sold<\/a> all of its treasury stock last week, reeling in EGP 45.5 mn for the 67.5 mn shares it had originally purchased for EGP 19.4 mn.<\/li>\n<li>Steel rolling mills again demanding the government reverse its decision to impose<strong> import tariffs on iron billet<\/strong>, <a href=\"https:\/\/bit.ly\/2Kji8Ge\">saying<\/a> the fees are causing raw material shortages that could cause the closure of plants.<\/li>\n<li>The <strong>Red Sea Water company<\/strong> <a href=\"https:\/\/www.afrik21.africa\/en\/egypt-government-opens-wastewater-treatment-plant-in-marsa-alam\/\">inau<\/a><a href=\"https:\/\/www.afrik21.africa\/en\/egypt-government-opens-wastewater-treatment-plant-in-marsa-alam\/\">gurated<\/a>a new wastewater treatment plant in Marsa Alam with a daily capacity of 700 cbm to be used for irrigation.<\/li>\n<li>The Social Solidarity Ministry <a href=\"https:\/\/bit.ly\/2LGzpdh\">is considering<\/a> adding 500k beneficiaries to the <strong>Takaful and Karama<\/strong> welfare programs in FY2021-2022.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing-ministry\/\">Housing Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/takaful-and-karama\/\">Takaful and Karama<\/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=\"559299\" 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=\"559299\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/\">\r\n                            What the markets are doing on 17 January 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/')\">\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\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/\">\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=What the markets are doing on 17 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/&title=What the markets are doing on 17 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+the+markets+are+doing+on+17+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fwhat-the-markets-are-doing-on-17-january-2021%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\/01\/17\/what-the-markets-are-doing-on-17-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559299\" class=\"content-area-description single-story post-559299 post type-post status-publish format-standard hentry category-planet-finance tag-automotive tag-carrefour tag-christine-lagarde tag-couche-tard tag-economic-rebound tag-enterpriseam tag-european-central-bank tag-financial-markets tag-ma-watch tag-neom tag-peugeot tag-planet-finance tag-psa-group tag-retail tag-saudi-arabia tag-stellantis wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>GLOBAL M&amp;A WATCH- Fiat Chrysler and Peugeot complete mega-merger:<\/strong> Fiat Chrysler and Peugeot\u2019s PSA Group are now Stellantis, a USD 51 bn+ company with a huge brand portfolio that ranges from from Jeep, Ram, Peugeot, and Opel to Maserati and Alfa Romeo in the luxury segment, according to <a href=\"https:\/\/www.wsj.com\/articles\/fiat-chrysler-psa-group-merge-to-create-new-auto-making-behemoth-11610795486?mod=hp_lead_pos1\">the Wall Street Journal<\/a>. The multi-bn USD <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/19\/what-were-tracking-on-19-december-2019-8754\/\">merger<\/a> has created the world\u2019s third-largest auto company, which executives think will eventually save them USD 6 bn a year.<\/p><p><strong>Couche-Tard\u2019s Carrefour bid blocked: <\/strong>Canadian convenience store brand Couche-Tard has scrapped a EUR 16.2 bn offer to acquire global grocer Carrefour after the French government raised objections, <a href=\"https:\/\/www.reuters.com\/article\/us-carrefour-m-a-couchetard-lemaire-excl\/exclusive-canadas-couche-tard-drops-20-billion-carrefour-takeover-plan-after-french-government-opposition-say-sources-idUSKBN29K0UU?il=0\">Reuters<\/a> reported, citing two sources with knowledge of the talks. The French government opposed the sale on food security concerns.<\/p><p><strong>Saudi Arabia\u2019s sovereign wealth fund will spend at least USD 40 bn annually in the <\/strong><strong>country over the next five years<\/strong> to finance mega-projects such as the futuristic, zero-carbon city Neom, reports <a href=\"https:\/\/www.ft.com\/content\/eec63ef2-ddd5-479c-a310-9b090992fe9f\">the Financial Times<\/a>.<\/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>11,453<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +5.6%)<\/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 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/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 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/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>T<\/strong><strong>a<\/strong><strong>dawul<\/strong><\/p>\n<\/td>\n<td>\n<p>8,898<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +2.4%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,266<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +4.4%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,702<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +8.4%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,768<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,735<\/p>\n<\/td>\n<td>\n<p>-1.0% (YTD: +4.3%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 55.10<\/p>\n<\/td>\n<td>\n<p>-2.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.74<\/p>\n<\/td>\n<td>\n<p>+2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,829<\/p>\n<\/td>\n<td>\n<p>-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 36,572<\/p>\n<\/td>\n<td>\n<p>+3.1%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 0.6% on Thursday<\/strong> on turnover of EGP 1.6 bn (16.6% above the 90-day average). Local investors were net sellers. The index is up 5.6% YTD.<\/p><p><strong>In the green: <\/strong>Eastern Company (+3.9%), Dice (+3.3%) and Edita (+3.1%).<\/p><p><strong>In the red: <\/strong>Egyptian Iron &amp; Steel (-9.8%), Qalaa Holdings (-1.5%) and Sodic (-1.3%).<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carrefour\/\">Carrefour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/christine-lagarde\/\">Christine Lagarde<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/couche-tard\/\">Couche-Tard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economic-rebound\/\">economic rebound<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-central-bank\/\">European Central Bank<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/peugeot\/\">Peugeot<\/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\/psa-group\/\">PSA Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stellantis\/\">Stellantis<\/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=\"559300\" 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=\"559300\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/libya-moving-closer-to-transitional-government\/\">\r\n                            Libya moving closer to transitional government                        <\/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\/01\/17\/libya-moving-closer-to-transitional-government\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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government&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/libya-moving-closer-to-transitional-government\/\">\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\/01\/17\/libya-moving-closer-to-transitional-government\/&title=Libya moving closer to transitional government\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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category-around-the-world tag-al-ula-declaration tag-around-the-world tag-diplomacy tag-enterpriseam tag-israel tag-libya tag-palestine tag-qatar tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Political rivals in Libya have made progress toward a transitional government <\/strong>that will oversee national parliamentary and presidential elections later this year, according to <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN29L0Q8\">Reuters<\/a>. Members of the transitional government could be chosen \u201cin several weeks\u201d after the UN negotiated the \u201cbest possible compromise\u201d between the two sides, Acting U.N. Libya envoy Stephanie Williams said yesterday following talks in Geneva. The Turkey-supported Government of National Accord and the Egypt-backed Libyan National Army agreed to a formal ceasefire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1db36e80-a027-4350-96ff-60293b1ef45d\">in October<\/a>, and in November agreed to set up a new, unified government and hold elections in December.<\/p>\n<p><strong>Saudi will reopen its embassy in Qatar in a few days and restore full diplomatic <\/strong><strong>ties<\/strong>, Saudi Foreign Minister Faisal bin Farhan said yesterday, according to <a href=\"https:\/\/www.reuters.com\/article\/us-gulf-qatar-saudi\/saudi-to-reopen-qatar-embassy-in-coming-days-saudi-minister-idUSKBN29L0DK?il=0\">Reuters<\/a>. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/036bdfbe-0680-448e-a011-b607497ac279\">Al Ula declaration<\/a> signed earlier this month paved the way for Saudi Arabia, Egypt, the UAE and Bahrain to end their 3.5-year blockade of Qatar and restore diplomatic ties.<\/p>\n<p><strong>Israeli Foreign Minister Gabi Ashkenazi declined an invitation to <\/strong><strong>join <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a3387e2-3e08-4bc3-a1f3-55c0638ffc54\">talks on Israeli-Palestinian peace<\/a><\/strong> between the Egyptian, French, Germanand Jordanian foreign ministers in Cairo last week. Ashkenazi cited the country\u2019s lockdown as the reason he didn\u2019t attend, <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2021\/01\/israel-france-egypt-germany-jordan-gabi-ashkenazi-palestine.html#ixzz6jhLuayE3\">Al Monitor<\/a> reports.<\/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\/al-ula-declaration\/\">Al Ula declaration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/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\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/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=\"559301\" 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=\"559301\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">17<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/google-arts-culture-launches-digital-platform-offering-virtual-tours-of-egyptian-sites\/\">\r\n                            Google Arts &#038; Culture launches digital platform offering virtual tours of Egyptian sites                        <\/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\/01\/17\/google-arts-culture-launches-digital-platform-offering-virtual-tours-of-egyptian-sites\/\" 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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Culture launches digital platform offering virtual tours of Egyptian sites\">\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=Google+Arts+%26%23038%3B+Culture+launches+digital+platform+offering+virtual+tours+of+Egyptian+sites+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F17%2Fgoogle-arts-culture-launches-digital-platform-offering-virtual-tours-of-egyptian-sites%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\/01\/17\/google-arts-culture-launches-digital-platform-offering-virtual-tours-of-egyptian-sites\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/191.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559302\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/17\/google-arts-culture-launches-digital-platform-offering-virtual-tours-of-egyptian-sites\/191-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/191.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"191.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/191.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/191.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559301\" class=\"content-area-description single-story post-559301 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Aswan\u2019s Isis Temple is open to the public again<\/strong> following the completion of restoration works on the site, according to a Tourism & Antiquities Ministry <a href=\"http:\/\/bit.ly\/3oSgI4B\">statement<\/a>. The restoration works included renovating the floors and columns, restoring and cleaning the inscriptions at the entrance to the sanctum, and maintenance of the offering tables in the Hypostyle Hall.<\/p>\n<p><strong>Can\u2019t visit the temple yourself? Take an online tour<\/strong> of the temple or other popular archaeological sites with the Google Arts & Culture organization\u2019s newly launched <a href=\"https:\/\/artsandculture.google.com\/project\/preserving-egypt\">\u2018Preserving Egypt\u2019s Layered History<\/a>\u2019 digital platform. The organization partnered with the American Research Center in Cairo to tell the stories behind Egyptian monuments such as pharaonic tombs, Mamluk mosques, Coptic monasteries, and Roman villas, as well as ancient practices and beliefs. The platform was covered by <a href=\"https:\/\/www.theartnewspaper.com\/news\/new-google-arts-and-culture-initiative-egypt\">The Art Newspaper<\/a> and <a href=\"https:\/\/archinect.com\/news\/article\/150245250\/virtually-tour-egypt-s-most-important-archeological-sites-with-new-google-arts-culture-offering\">Archinect<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/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=\"559303\" 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\/01\/17\/calendar-on-17-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559303\" class=\"content-area-description single-story post-559303 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>13-31 January (Wednesday-Sunday): Egypt will host the 2021 <a href=\"https:\/\/www.handballegypt2021.com\/\">Men\u2019s Handball World Championship<\/a> in four venues in Alexandria, Cairo, Giza and the New Capital.<\/p>\n<p>19 January (Tuesday) Financial Regulatory Authority\u2019s (FRA) <a href=\"https:\/\/bit.ly\/3nAFYeg\">annual conference<\/a> on non-banking financial services.<\/p>\n<p>19-22 January (Tuesday-Friday) <a href=\"http:\/\/www.wam.ae\/ar\/details\/1395302900916\">Global Energy Forum<\/a>, Abu Dhabi, UAE. The Atlantic Council-organized event will focus on the post-pandemic energy system.<\/p>\n<p>25 January (Monday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>25-29 January (Monday-Friday): The World Economic Forum\u2019s \u201cDavos Dialogues\u201d (virtual)<\/p>\n<p>26-28 January (Tuesday-Thursday): Future Investment Initiative, Riyadh, Saudi Arabia.<\/p>\n<p>28 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>31 January (Sunday): The deadline for businesses to <a href=\"https:\/\/bit.ly\/3nQenFS\">electronically submit<\/a> their annual tax return to the Egyptian Tax Authority.<\/p>\n<p>4 February (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>6-18 February (Saturday-Thursday): Mid-year school break (public schools \u2014 enjoy the break from bumper-to-bumper traffic)<\/p>\n<p>18 March (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>13 April (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labour Day (national holiday)<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>18-21 May (Tuesday-Friday): The World Economic Forum\u2019s annual meeting \u201cThe Great Reset\u201d<\/p>\n<p>31 May-2 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>30 May-15 June (Wednesday-Thursday): <a href=\"https:\/\/bit.ly\/398Prpy\">Cairo International Book Fair<\/a>.<\/p>\n<p>1 June (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center<\/p>\n<p>30 June (Wednesday): June 30 Revolution Day<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on on to the e-invoicing platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will suffer a host of penalties<\/a>, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday)<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday)<\/p>\n<p>23 July (Friday): Revolution Day (national holiday)<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 October (Friday): <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a> opens<\/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>18 October (Monday): Prophet\u2019s Birthday<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>13-17 December: <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/396604\/Egypt\/Politics-\/Egypt-to-host-UN-anticorruption-conference-in-.aspx\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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":559276,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-559275","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ab22c836-f3f5-4057-b04b-7084a377f073","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/182.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>Bank ABC wins bid for Blom Egypt - 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\/bank-abc-wins-bid-for-blom-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank ABC wins bid for Blom Egypt\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-abc-wins-bid-for-blom-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:25:37+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/182.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\/bank-abc-wins-bid-for-blom-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-abc-wins-bid-for-blom-egypt\/\",\"name\":\"Bank ABC wins bid for Blom Egypt - 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