{"id":559314,"date":"2021-01-18T03:30:04","date_gmt":"2021-01-18T03:30:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=559314"},"modified":"2025-12-16T02:26:35","modified_gmt":"2025-12-16T02:26:35","slug":"foreign-bondholders-love-egypt-sending-holdings-back-to-near-pre-pandemic-high","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/foreign-bondholders-love-egypt-sending-holdings-back-to-near-pre-pandemic-high\/","title":{"rendered":"Foreign bondholders love Egypt, sending holdings back to near pre-pandemic high"},"content":{"rendered":"<section id=\"559316\" 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=\"559316\">\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\/18\/what-were-tracking-on-18-january-2021\/\">\r\n                            What we\u2019re tracking on 18 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\/18\/what-were-tracking-on-18-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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And if you enjoy reading us each weekday morning, please join us in thanking our friends at CIB, Pharos, Sodic, Somabay, Orascom Construction and CIRA. Your morning read is available without charge thanks to their generous support.<\/p>\n<p><strong>THE BIG NEWS at home this morning: Foreign holdings of EGP-denominated debt are <\/strong><strong>creeping back up to their pre-pandemic high<\/strong>, Finance Minister Mohamed Maait said yesterday. We have chapter and verse in the news well, below.<\/p>\n<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>TODAY IN COVID- The Finance Ministry has set aside USD 1.5-1.6 bn to purchase <\/strong><strong>vaccines against covid-19<\/strong>, minister Mohamed Maait <a href=\"https:\/\/inktankcommunications.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=a179b51cfb&e=c6e98c63a2\">said yesterday<\/a>. Meanwhile: Seasonal and day labourers started getting the second EGP 1 bn installment of the new round of stimulus payouts yesterday as the Madbouly government looks to keep people afloat amid the second wave of covid-19. The program comes as part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fec63e66-71d2-4779-91fb-5dd6ba414562\">EGP 100 bn stimulus package<\/a> introduced in March to protect the economy. We have more in this morning\u2019s Covid Watch, below.<\/p>\n<p><strong>THE BIG NEWS ABROAD:<\/strong> It\u2019s Fortress Washington as the District of Columbia joins state capitals in preparing for possible armed violence by white racists ahead of the 20 January inauguration of Joe Biden. \u201c<a href=\"https:\/\/inktankcommunications.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=2bb88c2723&e=c6e98c63a2\">Washington is fortified amid fears of more violence<\/a>,\u201d reads the lead story in the FT. State capitals were <a href=\"https:\/\/inktankcommunications.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=d10e967ef7&e=c6e98c63a2\">braced for pro-Trump violence<\/a> yesterday, but it <a href=\"https:\/\/www.reuters.com\/article\/us-usa-trump-protests\/it-was-a-non-event-pro-trump-protests-quiet-amid-massive-police-presence-across-u-s-idUSKBN29M046\">largely failed to materialized<\/a>. Still, \u201c<a href=\"https:\/\/www.wsj.com\/articles\/troops-blockades-and-eerie-quiet-pervade-a-locked-down-washington-11610915281?mod=hp_lead_pos7\">troops, blockades and an eerie quiet pervade a locked-down Washington<\/a>\u201d and state capitals are on alert ahead of the 7pm CLT inauguration on Wednesday.<\/p>\n<p><strong>Inside Trump\u2019s final days:<\/strong> <a href=\"https:\/\/inktankcommunications.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=3b41caf0c5&e=c6e98c63a2\">Aides struggle to contain an angry, isolated president<\/a>.<\/p>\n<p><strong>PSA- It\u2019s going to be chilly today<\/strong> with a daytime high of 18\u00b0C and an overnight low of 8\u00b0C, setting the tone for the coming 14 days, according to our favourite weather app.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>IN THE HOUSE TODAY-<\/strong><\/p>\n<p><strong>Prime Minister Moustafa Madbouly and his cabinet will appear before the new <\/strong><strong>parliament today<\/strong> after being invited to the chamber by House Speaker Hanafi El Gibali. Madbouly will deliver a speech laying out the state of play with the government program and ministers will be invited to give statements briefing MPs on how their ministries have performed since 2018. <strong>Look for this to lead the news cycle this afternoon and tomorrow. <\/strong><\/p>\n<p><strong>The day\u2019s proceedings were all over the airwaves last night:<\/strong> Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=Kd0wlfrEvLA\">watch, runtime:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=Kd0wlfrEvLA\">6:48<\/a>), Al Hayah Al Youm <a href=\"https:\/\/www.youtube.com\/watch?v=ZZ0lOLHxWjQ\">(watch, run time: 6:27)<\/a>, Masaa DMC <a href=\"https:\/\/www.youtube.com\/watch?v=q5FGtHlIP8o\">(watch, runtime: 2:18)<\/a>, Ala Mas\u2019ouleety <a href=\"https:\/\/www.youtube.com\/watch?v=nUXAH-XhTo4\">(watch, runtime: 3:00)<\/a>.<\/p>\n<p><strong>What\u2019s on the House of Representatives\u2019 agenda this week?<\/strong><\/p>\n<ul>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/998365f3-19a3-4861-998b-637eefc9b9e2\">draft sovereign sukuk law<\/a><\/strong> is up for discussion today at the House Economic Committee, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=17012021&id=f47311e5-92b5-4685-b254-4471e913d868\">Al Shorouk<\/a>, paving the way for the government to take its maiden issuance to market.<\/li>\n<li>The Planning and Budgeting Committee will consider <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e481d6d-5609-4deb-8157-cde1af2d0196\">amendments to the 2010 Public-Private Partnership Act<\/a> that would streamline PPP contracts.<\/li>\n<li>The Housing Committee will tomorrow discuss <strong>amendments to the unified building code<\/strong> that would ease the process of building licensing and registration, <a href=\"https:\/\/bit.ly\/3oP4tFY\">Youm7<\/a> says.<\/li>\n<\/ul>\n<p><strong>ALSO MEETING THIS WEEK to sort out their agendas<\/strong> for the coming months are the energy and environment, education, and transport and communications committees. We have your rundown on <a href=\"https:\/\/inktankcommunications.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=9867726b82&e=c6e98c63a2\">everything that matters to business here<\/a>. Or you can tap here to see <a href=\"https:\/\/inktankcommunications.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=eeec4cb02c&e=c6e98c63a2\">who\u2019s running key committees<\/a> in the House.<\/p>\n<p><strong>WHAT ELSE IS HAPPENING TODAY?<\/strong><\/p>\n<p><strong>President Abdel Fattah El Sisi is due in Jordan today<\/strong> to visit King Abdullah II, the <a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=31706&lang=en&name=en_news\">Jordanian news agency<\/a> reported. Restarting the Palestinian-Israeli peace process is expected to be at the top of the agenda, Saudi\u2019s <a href=\"https:\/\/bit.ly\/3nMHkmk\">Asharq News<\/a> reports, quoting unnamaed official sources. The trip comes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a3387e2-3e08-4bc3-a1f3-55c0638ffc54\">a week after<\/a> El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ae3fc40-4f0c-47fc-b627-f0b0cf703674\">met Jordan\u2019s foreign minister<\/a> on the sidelines of recent talks about the peace process in Cairo.<\/p>\n<p><strong>Palestinian elections<\/strong><strong> + reconcilation ahead? <\/strong>This comes a day after Egypt and Jordan\u2019s intelligence chiefs travelled to Ramallah for talks with Palestinian Authority head Mahmoud Abbas, and discuss the PA\u2019s election plans announced this week, <a href=\"https:\/\/bit.ly\/2M0l4rI\">Masrawy<\/a> reports. Planned to be held in May and July, the elections will be the first since Hamas triumphed in the 2006 parliamentary elections, leading to the 15-year schism with Fatah and the PA. Hamas has (so far) welcomed the election call, raising speculation that the two sides may be about to kiss and make up.<\/p>\n<p><strong>The push for a breakthrough in Palestinian politics got a lot of attention on the airwaves <\/strong><strong>last night: <\/strong>Kelma Akhira's Lamees El Hadidi <a href=\"https:\/\/www.youtube.com\/watch?v=EYkOR25ydfM\">(watch, runtime: 7:50)<\/a>, Masaa DMC\u2019s Eman El Hosary <a href=\"https:\/\/www.youtube.com\/watch?v=PJQ_wIw9TkE\">(watch, runtime: 0:54)<\/a>, and Ala Mas\u2019ouleety\u2019s Ahmed Moussa <a href=\"https:\/\/www.youtube.com\/watch?v=yY6Gi7x_avg\">(watch, runtime: 2:10)<\/a>.<\/p>\n<p><strong>El Nasr Automotive will <\/strong><strong>sign today the<\/strong><strong> final contracts with China\u2019s Dongfeng to <\/strong><strong>assemble electric vehicles in Egypt, <\/strong>Public Enterprises Minister Hisham Tawfik told <a href=\"https:\/\/bit.ly\/38Ub4t2\">Masrawy<\/a>. The two companies plan to install the assembly line in 2Q2021 and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de1f6f99-9bd2-4ea1-9095-5614928ea38d\">begin production in 4Q2021<\/a>, which will eventually see them produce 25k vehicles each year.<\/p>\n<p><strong>EgyptAir <\/strong><strong>resumes<\/strong><strong> its flights between Cairo and Doha today<\/strong> after Egypt reopened its airspace to flights into and out of Qatar last week.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>Egypt is set to play against Sweden tonight at 7pm CLT for our last Group G game in<\/strong><strong> the 2021 Men\u2019s Handball World Championship<\/strong>, having qualified for the main round of the competition after <a href=\"https:\/\/www.kingfut.com\/2021\/01\/16\/egypt-qualify-main-round-world-cup\/\">beating North Macedonia 38-19<\/a> on Saturday. The Swedish team holds four Handball World Championship titles \u2014 tied with Romania who also holds four, second-best only to France who snagged six titles out of the 26 tournaments held.<\/p>\n<p><strong>There are also seven other matches in the lineup for today.<\/strong> You can check out the full schedule <a href=\"https:\/\/www.handballegypt2021.com\/en\/fixtures#2021-01-17\">here<\/a>. Yesterday\u2019s match that was set to be played between Germany and Cape Verde <a href=\"https:\/\/www.ihf.info\/media-center\/news\/match-cancellation-cape-verde-vs-germany\">was canceled<\/a> after two Cape Verde players tested positive for covid-19, making it unclear whether the team will attend the match against Uruguay tomorrow.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> A new unified platform for private university admissions is coming, and last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a31a1a97-6791-419a-882d-e9fc8ca7b214\">we broke down<\/a> what to expect from it. Today, we look at all the reasons why a new admissions system is necessary.<\/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\/2021-mens-handball-world-championship\/\">2021 Men\u2019s Handball World Championship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ula-declaration\/\">Al Ula declaration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-shuffle\/\">cabinet shuffle<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/king-abdullah-ii\/\">King Abdullah II<\/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\/marina-wes\/\">Marina Wes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n       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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=\"559318\" 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=\"559318\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/foreign-holdings-near-pre-covid-peak\/\">\r\n                            Foreign holdings near pre-covid peak                        <\/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\/18\/foreign-holdings-near-pre-covid-peak\/\" 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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<\/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\/18\/foreign-holdings-near-pre-covid-peak\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/199.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559319\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/foreign-holdings-near-pre-covid-peak\/199-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/199.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"199.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/199.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/199.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559318\" class=\"content-area-description single-story post-559318 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-bonds tag-budget-watch tag-carry-trade tag-debt tag-economy tag-enterpriseam tag-finance-ministry tag-gdp tag-informal-economy tag-labor tag-mohamed-maait 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>Foreign investment in EGP bonds has continued to rebound through the <\/strong><strong>beginning of 2021<\/strong>, with total holdings now standing at USD 26 bn, Minister Mohamed Maait told <a href=\"https:\/\/bit.ly\/35QuH3r\">Al Arabiya<\/a> and <a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/77985\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%84%D9%80-CNBC%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D8%AA-%D8%A8%D9%81%D9%82%D8%AF-200-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A-2021-2022.html\">CNBC<\/a> in separate interviews yesterday. This is up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a02f6809-1380-4df3-863e-2926ff19819f\">USD 23 bn at the end of November<\/a> and is less than USD 2 bn shy of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3337ffd0-2efd-4abc-bc91-2adad57554aa\">USD 27.8 bn<\/a> seen in February before the huge covid-inspired sell-off that swept emerging markets.<\/p>\n<p><strong>Egyptian assets were hammered by the covid-19 sell-off in the spring:<\/strong> Investors sold more than 60% of their holdings of Egyptian bills and bonds between March and May as capital fled emerging markets in response to the escalating pandemic. Over the three months foreign holdings fell from almost USD 28 bn to just USD 10.4 bn.<\/p>\n<p><strong>The money soon came roaring back:<\/strong> Holdings more than doubled in the following five months to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3337ffd0-2efd-4abc-bc91-2adad57554aa\">hit USD 21.1 bn<\/a> by mid-October. It was part of a reversal of flows that the minister described yesterday as a \u201cvery big shift.\u201d<\/p>\n<p><strong>GDP targets upgraded:<\/strong> Egypt\u2019s economy is now expected to expand between 2.8 and 4% this fiscal year under the Finance Ministry\u2019s amended targets, while the debt-to-GDP ratio is penciled in at 89% rather than 83%, Maait said. The growth upgrade compares with the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7268a5b-a6d2-48a8-b108-8110d3f0e58e\">most recent expectation<\/a> of 2.8-3.5% and comes after the release of 1H2020 fiscal data. The minister <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f51fda6-90fd-4d82-83c1-05f59a067630\">told Enterprise last week<\/a> that GDP figures and budget targets for FY2020-2021 would be amended in line with the data.<\/p>\n<p><strong>The projected overall deficit is now expected to come in at 7.9%<\/strong>, up from the 6.3% <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0557143-d132-4f80-a888-edd3c67085c5\">originally penciled into the budget<\/a>, while the primary surplus is expected to come in at EGP 35-40 bn, less than a third of the EGP 130 bn target in the budget. The government also expects to forgo some EGP 150-200 mn of revenues in FY2021-2022 in light of the continued economic instability caused by covid-19.<\/p>\n<p><strong>The amended targets come days after the Madbouly Cabinet <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ef08409-5977-4816-915a-9daf6cf04c63\">agreed<\/a><\/strong><strong> to extend 2020-2021 spending by an extra EGP 2 bn<\/strong> to help finance measures to support the economy through the pandemic.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/carry-trade\/\">carry trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/informal-economy\/\">informal economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559320\" 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=\"559320\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/and-scene-act-i-of-the-great-lebanese-bank-sell-off\/\">\r\n                            And, scene: Act I of the Great Lebanese Bank Sell Off                        <\/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\/18\/and-scene-act-i-of-the-great-lebanese-bank-sell-off\/\" 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 two hope to close the sale by the end of 1H2021 after getting clearance from the Central Bank of Egypt and the Financial Regulatory Authority.<\/p>\n<p><strong>Blom is pulling the pin on Egypt <\/strong>as Lebanese lenders face pressure to hike their equity by 20% to cope with recent market challenges in their home market.<\/p>\n<p><strong>That\u2019s a 1.4x premium to book <\/strong>and implies a PE ratio of about eight, based on Blom Bank Egypt\u2019s September financials, EFG Hermes wrote in a note yesterday.<\/p>\n<p><strong>Egypt is \u201cone of the most attractive markets in the region,\u201d <\/strong>said Bank ABC CEO Khaled Kawan. Bank ABC is acquiring the 99.4% of Blom Egypt held by Blom\u2019s Lebanese parent and will make a mandatory tender offer for the remaining 0.6%.<\/p>\n<p><strong>How big will Bank ABC be post-transaction? <\/strong>The bank hopes to crack the ranks of the top 20, it said in a statement. It already offers commercial, retail and other banking and financial services in Egypt and runs a 27-branch network. Add Blom\u2019s 41 branches in Egypt and the new Bank ABC will have 68 points of presence nationwide.<\/p>\n<p><strong>Bank ABC expects the transaction to wrap in 2Q2021, <\/strong>it said in a filing with <a href=\"https:\/\/www.bahrainbourse.com\/sysimages\/companyannouncement\/documents\/Bank%20ABC%20enters%20agreement%20to%20acquire%20Blom%20Bank%20Egypt_Disclosure%20to%20BHB.pdf_49061.pdf?637464751966323346&tick=1610867694255\">Bourse Bahrain (pdf)<\/a>.<\/p>\n<p><strong>DID YOU KNOW? <\/strong>The Olds among us will remember that Blom Bank was formerly known as Misr Romania Bank. Blom bought it back in 2006 when the Central Bank of Egypt drove a wave of consolidation in the banking industry. In the years since, the CBE has resolutely refused to issue new banking licenses, saying that any player \u2014 foreign or domestic \u2014 who passes the sniff test will need to buy into the sector through acquisition.<\/p>\n<p><strong>WHO\u2019S NEXT? <\/strong>As we noted this yesterday: 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>.<\/p>\n<p><strong>ADVISORS- <\/strong>HSBC is acting as sole financial advisor to Bank ABC, with Freshfields Bruckhaus Deringer and Zulficar & Partners acting as legal advisors. Blom Bank Lebanon was advised by CI Capital, while Baker McKenzie acted as legal counsel.<\/p>\n<p><strong>OTHER M&A NEWS- The Financial Regulatory Authority has approved a mandatory<\/strong> <strong>tender offer for up to 90% of <\/strong><strong>El Nasr for Manufacturing Agricultural Crops<\/strong> by a consortium of Al Raed for Agricultural Production and New Smart Construction Company, the regulator said in <a href=\"https:\/\/ent.news\/2021\/1\/El-Nasr-Agri-17-01-2021.pdf\">a filing (pdf)<\/a>. The consortium is targeting some 7 mn shares at EGP 45 apiece, giving the MTO a potential value of EGP 315 mn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559322\" 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=\"559322\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/hsbc-going-long-on-mena\/\">\r\n                            HSBC going long on MENA                        <\/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\/18\/hsbc-going-long-on-mena\/\" 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\/18\/hsbc-going-long-on-mena\/')\">\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\/18\/hsbc-going-long-on-mena\/\">\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=HSBC going long on MENA&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/hsbc-going-long-on-mena\/\">\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\/18\/hsbc-going-long-on-mena\/&title=HSBC going long on MENA\">\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=HSBC+going+long+on+MENA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fhsbc-going-long-on-mena%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\/18\/hsbc-going-long-on-mena\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559322\" class=\"content-area-description single-story post-559322 post type-post status-publish format-standard hentry category-banking tag-banking tag-enterpriseam tag-financial-inclusion tag-fintech tag-hsbc 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>HSBC \u2764\ufe0f Egypt, MENA: <\/strong>The global bank is getting plenty of attention in the domestic press for a statement attributed to Martin Tricaud, its group CEO for the Middle East, North Africa and Turkey, saying that the bank has \u201cambitious plans for growth in MENAT, which is positioned to be one of the fastest growing regions of the world over the coming decade.\u201d Todd Wilcox, HSBC Egypt\u2019s CEO, said the bank would be prioritizing \u201cdigital payments and transactions, international investor demand for exposure to Egyptian assets, or supporting government initiatives to deliver low-carbon, sustainable ways of doing business.\u201d You can <a href=\"https:\/\/ent.news\/2021\/1\/HSBC-MENAT-investment-NR.pdf\">read the statement here (pdf)<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/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=\"559323\" 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=\"559323\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/egypt-on-track-to-produce-export-sputnik-v\/\">\r\n                            Egypt on track to produce, export Sputnik V?                        <\/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\/18\/egypt-on-track-to-produce-export-sputnik-v\/\" target=\"_blank\">\n                    Open in new tab                    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href=\"https:\/\/x.com\/intent\/post?text=Egypt on track to produce, export Sputnik V?&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/egypt-on-track-to-produce-export-sputnik-v\/\">\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\/18\/egypt-on-track-to-produce-export-sputnik-v\/&title=Egypt on track to produce, export Sputnik V?\">\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+on+track+to+produce%2C+export+Sputnik+V%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fegypt-on-track-to-produce-export-sputnik-v%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\/18\/egypt-on-track-to-produce-export-sputnik-v\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559323\" class=\"content-area-description single-story post-559323 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-pandemic 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>Russia is open to handing Egypt the production technology to locally manufacture <\/strong><strong>the vaccine<\/strong>, the Russian Embassy in Cairo said in a <a href=\"http:\/\/bit.ly\/2KrztNs\">statement<\/a>. Moscow hopes that Egypt could act as an export hub for the vaccine in Africa, Egypt\u2019s ambassador to Russia Ihab Nasr told <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5231422\">El Watan<\/a>.<\/p>\n<p><strong>Egypt could begin receiving shipments of Sputnik V as soon as this month<\/strong>, the Russian Embassy added. Sputnik V has an <a href=\"https:\/\/sputnikvaccine.com\/newsroom\/pressreleases\/the-sputnik-v-vaccine-s-efficacy-is-confirmed-at-91-4-based-on-data-analysis-of-the-final-control-po\/#:~:text=The%20efficacy%20of%20the%20Sputnik,after%20administering%20the%20first%20dose.\">efficacy of 91.4%<\/a> and is registered for use in countries including <a href=\"https:\/\/sputnikvaccine.com\/newsroom\/pressreleases\/algeria-has-become-the-first-country-in-africa-to-register-sputnik-v-vaccine\/\">Algeria<\/a>, <a href=\"https:\/\/sputnikvaccine.com\/newsroom\/pressreleases\/bolivia-has-registered-sputnik-v-vaccine-based-on-russian-clinical-trial-data\/\">Bolivia<\/a> and <a href=\"https:\/\/sputnikvaccine.com\/newsroom\/pressreleases\/argentina-has-registered-the-sputnik-v-vaccine-based-on-russian-clinical-trial-data-\/\">Argentina<\/a>, with UAE expected to follow soon.<\/p>\n<p><strong>Egypt\u2019s Vacsera is an African leader in vaccine production <\/strong>and will likely serve as the production hub if an agreement is reached with Moscow.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/293208872229732\/\">reported<\/a><\/strong><strong> 890 new covid-19 infections yesterday<\/strong>, up from 887 the day before. Egypt has now disclosed a total of 156,397 confirmed cases of covid-19. The ministry also reported 56 new deaths, bringing the country\u2019s total death toll to 8,583.<\/p>\n<p><strong>The number of patients entering<\/strong> <strong>ICU units and being placed on ventilators has <\/strong><strong>fallen 50% since the start of the month<\/strong>, compared to December, Health Minister Hala Zayed said in <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/293076712242948\">a statement<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559324\" 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=\"559324\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/whos-in-on-high-speed-electric-rail\/\">\r\n                            Who\u2019s in on 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\/18\/whos-in-on-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/whos-in-on-high-speed-electric-rail\/')\">\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\/18\/whos-in-on-high-speed-electric-rail\/\">\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\u2019s in on high-speed electric rail?&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/whos-in-on-high-speed-electric-rail\/\">\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\/18\/whos-in-on-high-speed-electric-rail\/&title=Who\u2019s in on high-speed electric rail?\">\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%E2%80%99s+in+on+high-speed+electric+rail%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fwhos-in-on-high-speed-electric-rail%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\/18\/whos-in-on-high-speed-electric-rail\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/204.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559325\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/whos-in-on-high-speed-electric-rail\/204-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/204.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"204.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/204.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/204.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559324\" class=\"content-area-description single-story post-559324 post type-post status-publish format-standard has-post-thumbnail hentry category-transport tag-arab-contractors tag-enterpriseam tag-infrastructure tag-orascom-construction tag-siemens tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Orascom Construction (OC) and Arab Contractors are working with Siemens on<\/strong><strong> the USD 23 bn <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a852c99-ab78-4c24-8597-145fae51ea0b\">high-speed electric rail network<\/a><\/strong> after the consortium signed an MoU with the National Authority for Tunnels, OC confirmed in <a href=\"https:\/\/ent.news\/2021\/1\/OC-Consortium-Signs-High-Speed-Rail-MOU-1.pdf\">a statement (pdf)<\/a> yesterday. The three companies will design, install, and commission the rail system, which the statement says will span a 1,000 km network but Transport Minister Kamel El Wazir <a href=\"https:\/\/www.youtube.com\/watch?v=S4GINIStcfY\">said on the airwaves<\/a> earlier this week will cover 1,750 km in total.<\/p>\n<p><strong>Wait, weren\u2019t there other companies working on this rail network?<\/strong> Unconfirmed local press reports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e81e0e4-75b3-4a52-b922-854af95ba080\">last year<\/a> had suggested that a consortium of Samcrete, Arab Organization for Industrialization, China Civil Engineering Construction Corporation, and China Railway Construction Corporation were awarded the contract for the first phase of the rail network. Other <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/274b6aba-c6e4-4ad8-b4ff-15de8ea2bb91\">reports<\/a> emerged indicating that the Transport Ministry also brought in OC, Arab Contractors, and Concord for Engineering and Contracting to speed up the construction process. It appears, however, that none of these companies was actually contracted and that they were simply throwing their hats in the ring, and the Transport Ministry <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=17102020&id=810c0c10-452f-4d97-8712-5a8d1249de9a\">scrapped the initial tender<\/a> altogether because the offers were too expensive.<\/p>\n<p><strong>Where will the rail line run? <\/strong>The first phase will link Ain Sokhna to El Alamein via the new administrative capital and Alexandria.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/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\/orascom-construction\/\">Orascom Construction<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559326\" 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=\"559326\">\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\">DIGITIZATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/hey-there-informal-economy-wink-wink\/\">\r\n                            Hey there, informal economy (wink, wink)                        <\/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\/18\/hey-there-informal-economy-wink-wink\/\" 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\/18\/hey-there-informal-economy-wink-wink\/')\">\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\/18\/hey-there-informal-economy-wink-wink\/\">\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=Hey there, informal economy (wink, wink)&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/hey-there-informal-economy-wink-wink\/\">\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\/18\/hey-there-informal-economy-wink-wink\/&title=Hey there, informal economy (wink, wink)\">\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=Hey+there%2C+informal+economy+%28wink%2C+wink%29+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fhey-there-informal-economy-wink-wink%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\/18\/hey-there-informal-economy-wink-wink\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/205.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559327\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/hey-there-informal-economy-wink-wink\/205-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/205.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"205.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/205.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/205.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559326\" class=\"content-area-description single-story post-559326 post type-post status-publish format-standard has-post-thumbnail hentry category-digitization-watch tag-customs-authority tag-digitization tag-digitization-watch tag-enterpriseam tag-finance-ministry tag-financial-inclusion tag-informal-economy 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>The Finance Ministry\u2019s digitalization drive shows exactly zero signs of slowing down. <\/strong>Up next: a pilot program kicking off in 2Q2021 for a <a href=\"https:\/\/alborsaanews.com\/2021\/01\/17\/1413361\">digital inventory of real estate<\/a> now that the government\u2019s drive to bring online registry offices nationwide seems to be wrapping up. The program, which is yet to be confirmed, is being widely discussed in the domestic press, with an unnamed government official promising it will lead to a \u201csubstantial\u201d increase in real estate taxes.<\/p>\n<p><strong>The digital inventory has been in the works for two years now.<\/strong> A prototype of the real estate appraisal system was ready in March 2019 and included a model database of property prices which would yield location-based values together with the help of geographic coordinate systems, head of the real estate appraisal program Mohamed Salheen told <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/18\/prototype-of-digital-system-ready-to-appraise-egypts-real-estate-assets-ready\/\">us at the time<\/a>. The system is part of the proposed amendments to the Real Estate Tax Act, which are largely aimed at reducing real estate tax discrepancies.<\/p>\n<p><strong>In parallel, the Customs Agency is going to be implementing electronic Advance Customs Information (ACI)<\/strong>, a World Customs Organization protocol that provides shipping lines, port operators and governments real-time information on the potential arrival in port (or departure from port) of dangerous goods, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MofNews\/WhatsNew\/Pages\/breakingnews16-1-2021-1.aspx\">Finance Minister Mohamed Maait said<\/a>. The trial starts on the first of April and will become mandatory for anyone pushing goods into or out of Egypt\u2019s ports by July.<\/p>\n<p><strong>What\u2019s ACI? <\/strong>Think back to when you used to travel. Remember seeing \u201cAPI\u201d on your boarding pass? That means the airline sent your name, DOB and passport information into a security database under the \u201cAPI\u201d (Advance Passenger Information) standard. ACI is API, but for freight. <a href=\"http:\/\/www.wcoomd.org\/-\/media\/wco\/public\/global\/pdf\/topics\/facilitation\/instruments-and-tools\/tools\/safe-package\/aci_implementation-guidance.pdf?la=en\">You can learn more about it here (pdf)<\/a>.<\/p>\n<p><strong>WHY IT\u2019S SMART POLICY-<\/strong> For the first time in recent memory, most arms of government (including rival authorities within individual ministries) are working in concert to bring the informal economy kicking and screaming into the light. The government\u2019s goal: To widen the tax base and reduce chances to avoid paying the taxman (or customs office or licensing authority) its due. You see this on the government side in everything from the e-tax registration system for companies and individuals to a near-complete ban on cash payments to government agencies. The Central Bank of Egypt, meanwhile, is pushing banks to promote digital transactions as part of its sweeping financial inclusion drive.<\/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\/customs-authority\/\">Customs Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization-watch\/\">DIGITIZATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/informal-economy\/\">informal economy<\/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=\"559328\" 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=\"559328\">\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\">INFRASTRUCTURE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/charge-it-up\/\">\r\n                            Charge it up                        <\/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\/18\/charge-it-up\/\" 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\/18\/charge-it-up\/')\">\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\/18\/charge-it-up\/\">\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=Charge it up&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/charge-it-up\/\">\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\/18\/charge-it-up\/&title=Charge it up\">\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=Charge+it+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fcharge-it-up%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\/18\/charge-it-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/206.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559329\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/charge-it-up\/206-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/206.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"206.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/206.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/206.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559328\" class=\"content-area-description single-story post-559328 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure-watch tag-electricity-ministry tag-enterpriseam tag-evs tag-finance-ministry tag-infrastructure-watch tag-oil-ministry tag-public-enterprises-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Planning to buy an EV? You should have access to 3k charging stations within <\/strong><strong>three years<\/strong> as the government continues to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01f0e9a3-95f3-473d-8ee9-aad4cad6d752\">encourage a move towards electric<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ff3bb47-799d-4d0e-85e6-b1efd8ed1a4c\">natural gas<\/a>powered vehicles, <a href=\"https:\/\/bit.ly\/2Nf2jl9\">El Watan<\/a> reports, citing unnamed sources in the know. The plans also include the establishment of electric vehicle parking and charging stations in shopping center garages, as well as at the Tahrir and Ramsis garages. The oil, electricity, finance, and public enterprises ministries are coordinating on how to set up the infrastructure for the stations. The 3k stations goal appears to be more ambitious than statements given by Public Enterprises Minister Hisham Tawfik <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2020\/1\/28\/1713972\/%D9%88%D8%B2%D9%8A%D8%B1-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D8%A3%D9%84%D9%81-%D9%85%D8%AD%D8%B7%D8%A9-%D8%B4%D8%AD%D9%86-%D8%B3%D8%B1%D9%8A%D8%B9-%D9%84%D8%AA%D8%B4%D8%BA%D9%8A%D9%84-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A%D8%A9-\">last January<\/a>, in which he said the government would be targeting 1k stations by the end of three years.<\/p>\n<p><strong>A number of EV charging points have already been rolled out to select gas stations<\/strong>, with the first <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/12\/kabil-inaugurates-egypts-first-electric-vehicle-charging-station\/\">inaugurated in February 2018<\/a> on the Cairo-Suez highway. EV outfit Revolta Egypt says it has <a href=\"https:\/\/bit.ly\/2AikYGr\">completed 87 charging stations<\/a> across the country, and announced its intention to <a href=\"https:\/\/alborsaanews.com\/2019\/08\/29\/1239531\">bring that figure to 690<\/a> by the end of 2020, though its website <a href=\"https:\/\/revoltaegypt.com\/\">currently boasts 130<\/a>.<\/p>\n<p><strong>The government has proposed a number of incentives to promote the EV conversion<\/strong>, including set charging prices and subsidies of up to 50k per vehicle, and requiring public enterprises to replace 5% of their fleet every year with electric cars. Egypt plans to begin manufacturing electric vehicles locally under a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec363919-aa51-4cc5-824e-fb693949d556\">partnership agreement<\/a>between El Nasr Automotive and China\u2019s Dongfeng that should eventually see the assembly of 25k electric vehicles per year, and is expected to cost some EGP 2.5 bn. The agreement could be signed as early as today, as we note in What We\u2019re Tracking Today, 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\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-enterprises-ministry\/\">Public Enterprises 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=\"559330\" 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=\"559330\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/the-latest-on-the-ngo-act\/\">\r\n                            The latest on the NGO Act                        <\/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\/18\/the-latest-on-the-ngo-act\/\" 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\/18\/the-latest-on-the-ngo-act\/')\">\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\/18\/the-latest-on-the-ngo-act\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The latest on the NGO Act&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/the-latest-on-the-ngo-act\/\">\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\/18\/the-latest-on-the-ngo-act\/&title=The latest on the NGO Act\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+latest+on+the+NGO+Act+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fthe-latest-on-the-ngo-act%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\/18\/the-latest-on-the-ngo-act\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559330\" class=\"content-area-description single-story post-559330 post type-post status-publish format-standard hentry category-legislation-watch tag-bankruptcy-act tag-civil-society tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-ngos-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The long-awaited executive regulations for the NGOs Act are now the law of the <\/strong><strong>land<\/strong> less than two months after getting the green light from the Madbouly Cabinet. The regs come into effect just days before the Biden administration takes over the White House, which pundits have suggested could mean more scrutiny of Egypt\u2019s human rights record. Civil society and making room for NGOs to operate legally has been a <strong><a href=\"https:\/\/www.reuters.com\/article\/us-egypt-usa\/egyptian-court-acquits-40-ngo-workers-whose-case-strained-ties-with-us-idUSKCN1OJ0WR\">persistent strain on the US-Egypt relationship<\/a><\/strong> since the 2013 NGO trial.<\/p>\n<p><strong>Refresher on the legislation:<\/strong> The NGOs Act, which President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/25\/el-sisi-ratifies-new-ngos-act\/\">ratified in August 2019<\/a>, replaces the controversial Law No.70 of 2017, which had generated criticism in Egypt and abroad for its curtailing of civil society. The law grants more space for foreign involvement in civil society, including allowing up to 25% of organizations\u2019 board of directors to be foreign residents (up from 10% under the old law), allowing foreign NGOs to operate in the country, and allowing local organizations to open offices in other countries and receive donor funds. The new law still forbids NGOs from participating in political activities, but has eased penalties on violators of the law by scrapping prison sentences.<\/p>\n<p><strong>So, what\u2019s in the regs?<\/strong> In addition to laying out the new limits on foreign involvement in NGOs, the regulations require organizations to set up at least one account within the same bank to receive all of their funding, while allowing organizations with annual revenues or expenditures north of EGP 5 mn to set up accounts in different banks. The regulations also require NGOs to provide a host of data to register with the authorities, including information on its founders and its planned activities. Organizations are being given one year to comply with the regs. Read them in full <a href=\"https:\/\/bit.ly\/39J27C3\">here<\/a>.<\/p>\n<ul>\n<li> <\/li>\n<\/ul>\n<p><strong>Also on the legislative front: <\/strong><\/p>\n<ul>\n<li><strong>Street car park attendants (aka a \u201csayes\u201d) <\/strong><strong>now need<\/strong><strong> to submit driving licenses<\/strong> and prove they don\u2019t abuse substances, <a href=\"https:\/\/bit.ly\/3sAIXXZ\">among other things<\/a>, to be permitted to work on the country\u2019s streets under the executive regulations to a law regulating street parking <a href=\"http:\/\/bit.ly\/3boEX3Y\">passed last year<\/a>.<\/li>\n<li><strong>We\u2019ll be paying an extra EGP 5 for sport and plane tickets and<\/strong> <strong>college and club <\/strong><strong>membership applications<\/strong> to support a state fund to compensate martyrs and wounded soldiers under amendments given <a href=\"https:\/\/bit.ly\/3qrg6mU\">House approval<\/a> yesterday.<\/li>\n<li>The House Legislative Committee <a href=\"https:\/\/bit.ly\/2N5JEIk\">approved<\/a> the <strong>Bankruptcy Act<\/strong> and draft legislation to <strong>regulate special judicial mediation<\/strong> for out-of-court trade and civil dispute settlements.<\/li>\n<li>The House Manpower Committee is <a href=\"https:\/\/alborsaanews.com\/2021\/01\/17\/1413357\">looking into<\/a> the <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\">planned liquidation<\/a><\/strong><strong> of <\/strong><strong>state-owned Egyptian Iron & Steel<\/strong>.<\/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\/bankruptcy-act\/\">Bankruptcy Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/civil-society\/\">civil society<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/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\/ngos-act\/\">NGOs 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=\"559331\" 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=\"559331\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/559331\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559331\" class=\"content-area-description single-story post-559331 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/Sodic-Karmell2-1600px.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=\"559332\" 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=\"559332\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/make-it-rain\/\">\r\n                            Make it Rain                        <\/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\/18\/make-it-rain\/\" 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\/18\/make-it-rain\/')\">\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\/18\/make-it-rain\/\">\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=Make it Rain&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/make-it-rain\/\">\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\/18\/make-it-rain\/&title=Make it Rain\">\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=Make+it+Rain+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fmake-it-rain%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\/18\/make-it-rain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559332\" class=\"content-area-description single-story post-559332 post type-post status-publish format-standard hentry category-startup-watch tag-cryptocurrency tag-digital-currency tag-enterpriseam tag-rain-financial tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Crypto asset platform Rain raises USD 6 mn series A:<\/strong> Bahrain\u2019s Rain Financial, whose subsidiary Rain Management is the region\u2019s first fully licensed digital currency exchange, has raised USD 6 mn in a series A funding round led by Middle East Venture Partners with participation from Coinbase, Vision Ventures, CMT Digital Ventures, JIMCO, and DIFC Fintech Fund, according to <a href=\"https:\/\/ent.news\/2021\/1\/Rain-Series-A-Press-Release-vFinal_EN.docx.pdf\">an<\/a><a href=\"https:\/\/ent.news\/2021\/1\/Rain-Series-A-Press-Release-vFinal_EN.docx.pdf\">emailed statement (pdf)<\/a>. Rain plans to use the investments to expand its engineering team and work on growing its presence in the Middle East.<\/p>\n<p><strong>We\u2019ve been following Rain <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/17\/what-were-tracking-on-17-october-2019\/\">since 2018<\/a><\/strong><strong>. <\/strong>Egyptian Yehia Badawy is one of four co-founders of the outfit, which landed a sandbox license from the Central Bank of Bahrain in 2017.<\/p>\n<p>\u00a0<\/p>\n<p><em>EDITOR'S NOTE: This story was corrected on 19 January, 2022 to reflect that we have been following Rain since 2018, not 2019.\u00a0<\/em><\/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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digital-currency\/\">Digital currency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rain-financial\/\">Rain Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559333\" 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=\"559333\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/\">\r\n                            Rawaj to issue EGP 308 mn in securitized bonds                        <\/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\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/\" 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\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/')\">\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\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/\">\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=Rawaj to issue EGP 308 mn in securitized bonds&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/\">\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\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/&title=Rawaj to issue EGP 308 mn in securitized bonds\">\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=Rawaj+to+issue+EGP+308+mn+in+securitized+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Frawaj-to-issue-egp-308-mn-in-securitized-bonds%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\/18\/rawaj-to-issue-egp-308-mn-in-securitized-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559333\" class=\"content-area-description single-story post-559333 post type-post status-publish format-standard hentry category-debt-watch tag-bm-lease tag-consumer-finance tag-debt-watch tag-enterpriseam tag-factoring tag-non-banking-financial-services tag-rawaj wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Consumer finance company Rawaj is reportedly planning a EGP 308 mn <\/strong><strong>issuance of securitized bonds <\/strong>in a sale arranged and managed by CIB, <a href=\"https:\/\/bit.ly\/2LwfwFP\">Al Mal<\/a> reports, citing unnamed sources with knowledge of the matter. The issuance is awaiting approval from the Financial Regulatory Authority, and should be concluded by the end of January.<\/p>\n<p><strong>Rawaj would be the latest in a slew of businesses offloading receivables in the country\u2019s hot securitization market<\/strong>, including Sarwa Capital, Palm Hills Development, CI Capital\u2019s Corplease, GB Auto subsidiaries GB Lease and Drive Finance, Amer Group, and Talaat Moustafa Group.<\/p>\n<p><strong>OTHER DEBT NEWS-<\/strong><\/p>\n<p><strong>Fawry <\/strong>has taken on a <a href=\"https:\/\/ent.news\/2021\/1\/%D9%81%D9%88%D8%B1%D9%89-%D8%AC%D9%85%D8%B9%D9%8A%D8%A9-17-01-2021.pdf\">EGP 160 mn loan (pdf)<\/a> from the <strong>Egyptian American <\/strong><strong>Enterprise Fund<\/strong>.<\/p>\n<p><strong>Banque Misr's NBFS arm BM Lease plans to expand into factoring <\/strong>and is looking to extend a total of EGP 2 bn worth of finance in 1Q2021, CEO Hisham Sheta told <a href=\"https:\/\/bit.ly\/3bOplts\">Al Mal<\/a>.<\/p>\n<p><em>CORRECTION- 18 January 2021<\/em><\/p>\n<p><em>An earlier version of this story incorrectly said that BM Lease is the National Bank of Egypt's NBFS arm.<\/em><\/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\/bm-lease\/\">BM Lease<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/factoring\/\">factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rawaj\/\">Rawaj<\/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=\"559334\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 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33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559335\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559336\" 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=\"559336\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/egypt-in-the-news-on-18-january-2021\/\">\r\n                            Egypt in the News on 18 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\/18\/egypt-in-the-news-on-18-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\/18\/egypt-in-the-news-on-18-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\/18\/egypt-in-the-news-on-18-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 18 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/egypt-in-the-news-on-18-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\/18\/egypt-in-the-news-on-18-january-2021\/&title=Egypt in the News on 18 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+18+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fegypt-in-the-news-on-18-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\/18\/egypt-in-the-news-on-18-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559336\" class=\"content-area-description single-story post-559336 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-archaeology tag-enterpriseam tag-history tag-muslim-brotherhood tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A huge archaeological discovery at Saqqara is leading the conversation on Egyp t<\/strong>in the foreign press this morning: Egypt has announced details of a large archaeological find at the Saqqara complex, including a funerary temple and a collection of 54 coffins thought to be some 3k years\u2019 old. Everyone from the <a href=\"https:\/\/apnews.com\/article\/egypt-cairo-zahi-hawass-0808a72257c752b00fb193951752bda8\">AP<\/a> to <a href=\"https:\/\/www.dw.com\/en\/egypt-reveals-ancient-archaeological-burial-finds-at-necropolis\/a-56254357\">Deutsche Welle<\/a> and <a href=\"https:\/\/news.sky.com\/story\/egypt-dozens-of-3-000-year-old-coffins-and-mummies-discovered-in-ancient-temple-12190863\">Sky News<\/a> has the story.<\/p>\n<p><strong>A Cairo court has ordered the seizure of assets belonging to former President <\/strong><strong>Mohamed Morsi\u2019s family<\/strong> and 88 other members of the Ikhwan, including Supreme Guide Mohamed Badie, his deputy Khairat El Shater, and former MP Mohamed Beltagy, a judicial source told France\u2019s AFP. The Times of Israel <a href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/egypt-seizes-assets-of-morsi-88-muslim-brotherhood-members\/\">picked up the story<\/a> from the French news agency.<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/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\/muslim-brotherhood\/\">Muslim Brotherhood<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559337\" 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=\"559337\">\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\">RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/also-on-our-radar-on-18-january-2021\/\">\r\n                            Also on our radar on 18 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\/18\/also-on-our-radar-on-18-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\/18\/also-on-our-radar-on-18-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\/18\/also-on-our-radar-on-18-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 18 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/also-on-our-radar-on-18-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\/18\/also-on-our-radar-on-18-january-2021\/&title=Also on our radar on 18 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+18+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Falso-on-our-radar-on-18-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\/18\/also-on-our-radar-on-18-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559337\" class=\"content-area-description single-story post-559337 post type-post status-publish format-standard hentry category-radar tag-construction tag-egyptian-american-enterprise-fund tag-enterpriseam tag-fawry tag-hospitality tag-housing-ministry tag-new-administrative-capital tag-new-urban-communities-authority tag-radar tag-real-estate tag-talaat-moustafa-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>TMG purchases 21 mn sqm of land for massive new capital development: <\/strong>Talaat Moustafa subsidiary the Arab Company for Projects and Urban Development has purchased 21 mn sqm (5.2k feddans) of land from the New Urban Communities Authority (NUCA) for a EGP 500 bn residential project in the Capital Gardens district near the new administrative capital, cabinet said in <a href=\"https:\/\/bit.ly\/3nSAv2D\">a statement<\/a>. The price of the land wasn\u2019t disclosed, but <a href=\"https:\/\/bit.ly\/39EUjRX\">Al Mal<\/a> claimed that NUCA valued it at 1.35k per sqm, translating to an overall price of EGP 28.5 bn. The company will pay for part of the land in-kind, and the rest in direct transfers. It plans to build a Madinaty-style city with up to 600k residents in nearly 140k homes, cabinet added.<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-american-enterprise-fund\/\">Egyptian American Enterprise Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/radar\/\">RADAR<\/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\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/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=\"559338\" 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=\"559338\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/what-the-markets-are-doing-on-18-january-2021\/\">\r\n                            What the markets are doing on 18 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\/18\/what-the-markets-are-doing-on-18-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\/18\/what-the-markets-are-doing-on-18-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\/18\/what-the-markets-are-doing-on-18-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 18 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/what-the-markets-are-doing-on-18-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\/18\/what-the-markets-are-doing-on-18-january-2021\/&title=What the markets are doing on 18 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+18+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F18%2Fwhat-the-markets-are-doing-on-18-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\/18\/what-the-markets-are-doing-on-18-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559338\" class=\"content-area-description single-story post-559338 post type-post status-publish format-standard hentry category-planet-finance tag-currencies tag-economy tag-emerging-markets tag-enterpriseam tag-europe tag-financial-markets tag-investment-watch tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>EM currencies under pressure as greenback enjoys Biden bounce:<\/strong> Emerging-market currencies are coming under pressure as incoming US president Joe Biden\u2019s pledge to pass USD 1.9 tn in fresh stimulus sends the USD on a two-week tear, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-17\/emerging-markets-tested-by-rising-dollar-ahead-of-biden-s-return?sref=mmeFTDW1\">Bloomberg<\/a> says. EM currencies, in turn, logged losses after having ended 2020 with the biggest quarterly rally in a decade. \u201cIf vaccines prove less effective than we expect and [the] global economy stumbles, the \u2018safe haven\u2019 dollar would likely [continue to] appreciate,\u201d Goldman Sachs strategists including Zach Pandl wrote in a report. There are, still, \u201cbroad dollar weakness\u201d this year amid a higher exposure to risky assets and an expected rally in commodity prices, the strategists said.<\/p><p><strong>Global money managers are poised to snap up US bonds<\/strong> as the prospect of a unified Democratic government points to higher inflation and yields, though a rush of buyers might limit how high yields can go, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-16\/there-s-a-global-wall-of-cash-primed-to-snap-up-u-s-treasuries?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Analysts say investors in Japan \u2014 the biggest foreign owner of American debt \u2014 are biding their time to wait for 10-year Treasury yields to peak before buying, though some observers are still concerned rising unemployment and declining retail spending will limit the US\u2019 economic rebound.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,446<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +5.5%)<\/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-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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>8,874<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,280<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +4.7%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,695<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +8.2%)<\/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 54.93<\/p>\n<\/td>\n<td>\n<p>-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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.65<\/p>\n<\/td>\n<td>\n<p>-3.3%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,828<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 36,183<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 0.1% yesterday<\/strong> on turnover of EGP 1.4 bn (4.4% above the 90-day average). Regional investors were net sellers. The index is up +5.5% YTD.<\/p><p><strong>In the green: <\/strong>Ibnsina Pharma (+4.6%), Egypt Kuwait Holding (+3.3%) and Dice (+2%).<\/p><p><strong>In the red: <\/strong>Egyptian Iron &amp; Steel (-9.9%), Cleopatra Hospitals (-2.1%) and Ezz Steel (-2%).<\/p><p><strong>It\u2019s a mixed bag in <\/strong><strong>Asia this morning<\/strong>, with Chinese equities in the green and most of everyone else seeing red. Markets in Europe and the US are forecast to resume last week\u2019s sell-off when they open later today.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559339\" 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=\"559339\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/around-the-world-on-18-january-2021\/\">\r\n                            Around the world on 18 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\/18\/around-the-world-on-18-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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The 24 African countries to have ratified the agreement (among them, Egypt) <a href=\"https:\/\/au.int\/en\/pressreleases\/20210104\/african-business-council-applauds-start-trading-basis-afcfta\">began trading under the rules<\/a> when the area had its official launch at the beginning of 2021. It will take several years at least before the trade zone is fully implemented, with many of the finer details still to be agreed, countries yet to sign on, and institutions still to be built.<\/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\/african-continental-free-trade-area\/\">African Continental Free Trade Area<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"559340\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">15<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/why-we-need-a-new-private-sector-tansik-style-university-application-system\/\">\r\n                            Why we need a new private sector Tansik-style university application system<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/why-we-need-a-new-private-sector-tansik-style-university-application-system\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The platform will consolidate enrollment applications to all non-state universities regulated by the Supreme Council of Private Universities. We <a href=\"https:\/\/enterprise.press\/blackboard\/\">broke down its structure<\/a> last week. Because the system is new, there\u2019s been apprehension about how it will change the application process.<\/p>\n<p><strong>The system was set up to stop<\/strong> <strong>private universities admitting students because of connections or their ability to pay <\/strong>when they haven\u2019t met academic requirements. It will set a clear benchmark for admissions, streamlining and simplifying a process that has become difficult to navigate and often expensive, argue proponents.<\/p>\n<p><strong>Admissions will be exclusively based on academic ability- gov\u2019t: <\/strong>Student admissions and distribution among private universities will be grade-determined, says Mohamed Helmy Al Ghar, head of the Supreme Council of Private Universities, which is spearheading the plan. Students without the grades won\u2019t be allowed in because they can pay, or because of social connections. This benefits high-achieving students, he says.<\/p>\n<p><strong>Private universities acknowledge that under current admissions systems, the final grade doesn\u2019t always top entry criteria. <\/strong>Private universities do currently sometimes prioritize language skills or other personal characteristics over the final grade in their selection process, note Future University of Egypt head Ebada Sarhan and Chinese University president Ashraf El Shehi.<\/p>\n<p><strong>And if the final grade is the key admissions determinant, places won\u2019t be offered because of personal connections,<\/strong> says Japanese University president Ahmed El Gohary. Other private university operators have confirmed this does currently happen, and concur the new platform is a way of addressing the problem. Using an electronic monitoring system will make the admissions process more transparent, without preventing universities from setting their own entry criteria and exams, El Gohary adds.<\/p>\n<p><strong>Complaints of unfairness made streamlining and regulating the admissions process a priority, he adds<\/strong><strong>.<\/strong> The ministry has received \u201cmany\u201d complaints over the years from students turned down by private universities when lower-scoring peers were accepted, says Al Gohary. As private universities increase, the need for a centralized system that regulates admissions becomes more important, he adds. We should note, however, we have not found data to demonstrate just how widespread this problem is.<\/p>\n<p><strong>Still, there\u2019s a cohort of parents convinced of the problem and (currently) on board with the solution. <\/strong>A unified platform is absolutely necessary for a fair admissions process, believes parent Manar Mohammed. Unclear entry requirements and scoring often leave parents unsure of what\u2019s needed for their children to be accepted by private universities, she says. Mohammed knows of cases where universities accepted students whose grades were lower than listed criteria, or lower than previously rejected students.<\/p>\n<p><strong>Parents say the whole system needs better coordination: <\/strong>The current application process is decentralized, particularly when it comes to the timing of the application process, argues Mohammed. A student wanting to study an in-demand subject will probably apply to several different universities, and might have to wait until the second or third admissions phase before knowing if she was accepted at her first choice university. If she\u2019s offered a place elsewhere, it can only be secured with a down payment.<\/p>\n<p><strong>So a family could pay some EGP 100k to three or four universities for one child just to ensure a place in a good private university<\/strong> studying their preferred discipline, says Mohammed. Increased demand for private university education has heightened the exploitation of parents\u2019 willingness to pay, she adds.<\/p>\n<p><strong>Centralized applications and clearly benchmarked requirements would (ideally) remove the need for multiple university down payments.<\/strong> Mohammed hopes the new platform will allow students to apply to multiple universities using only one application form. She also wants grade cut-off points for entry clearly laid out, eliminating the need for backup down payments. Under the new system, students will be able to apply to all their chosen universities at once, as opposed to applying directly to each university.<\/p>\n<p><strong>But fears about the system\u2019s rollout, its impact on schools\u2019 bottom lines and student choice are growing. <\/strong>Individual universities worry that the system\u2019s distribution mechanism could restrict their student numbers, hitting profits. And among students, the prospect of losing the final choice of where they attend university is causing consternation. We discuss these concerns in greater detail next week.<\/p>\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The Egypt Japan University Of Science & Technology<\/strong> has earmarked 150 postgraduate scholarships for African students, according to a <a href=\"https:\/\/ejust.edu.eg\/news\/e-just-granted-scholarships-to-31-african-students-from-9-countries\/\">statement<\/a>.<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/www.iecd.org\/en\/programme-graines-desperance-a-vent-poupe\/\">Seeds of Hope<\/a><\/strong><strong> programme<\/strong> \u2014 which offers training courses in careers in energy, electricity and maintenance \u2014 <strong>has been renewed for three years<\/strong> after the European Institute for Cooperation and Development signed a MoU with Schneider Electric, reports Amwal Al Ghad.<\/li>\n<li><strong>E-payments provider Bee<\/strong> <strong>will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d493c99f-77d4-4aa3-bef2-6ee3dae722a4\">handle<\/a><\/strong><strong> public school tuition fees and expenses<\/strong> after signing an agreement with the Education Ministry.<\/li>\n<li><strong>CIRA<\/strong> <strong>will begin <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e168ecda-75d2-4455-9fe3-cf0a590e3299\">constructing<\/a><\/strong><strong> a Futures language school<\/strong> by the end of this month in Sohag, and expects to begin campus activities by the end of September 2021.<\/li>\n<li><strong>Tech investors are eyeing Africa\u2019s education and financial services sectors post covid<\/strong>, investors said during the <a href=\"https:\/\/www.reuters.com\/article\/uk-africa-tech\/tech-investors-eye-africas-education-and-financial-sectors-idUSKBN29H1NI\">Reuters Next conference<\/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\/admissions\/\">admissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chinese-university\/\">Chinese University<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/future-university\/\">Future University<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japanese-university\/\">Japanese University<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-university-for-science-and-technology\/\">Misr University for Science and Technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supreme-council-for-private-universities\/\">Supreme Council for Private Universities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"559342\" 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\/18\/calendar-on-18-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559342\" class=\"content-area-description single-story post-559342 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":559315,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-559314","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b5d6b78b-637b-4d9d-87a6-900bbbe2f242","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/198.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>Foreign bondholders love Egypt, sending holdings back to near pre-pandemic high - 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\/foreign-bondholders-love-egypt-sending-holdings-back-to-near-pre-pandemic-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign bondholders love Egypt, sending holdings back to near pre-pandemic high\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/foreign-bondholders-love-egypt-sending-holdings-back-to-near-pre-pandemic-high\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:26:35+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\/198.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\/foreign-bondholders-love-egypt-sending-holdings-back-to-near-pre-pandemic-high\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/foreign-bondholders-love-egypt-sending-holdings-back-to-near-pre-pandemic-high\/\",\"name\":\"Foreign bondholders love Egypt, sending holdings back to near pre-pandemic high - 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