{"id":559391,"date":"2021-01-20T03:39:21","date_gmt":"2021-01-20T03:39:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=559391"},"modified":"2025-12-16T02:28:30","modified_gmt":"2025-12-16T02:28:30","slug":"bye-bye-agent-orange-plus-imf-gives-egypt-top-marks-for-response-to-pandemics-economic-fallout","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/bye-bye-agent-orange-plus-imf-gives-egypt-top-marks-for-response-to-pandemics-economic-fallout\/","title":{"rendered":"Bye bye, Agent Orange. \r\nPlus: IMF gives Egypt top marks for response to pandemic\u2019s economic fallout."},"content":{"rendered":"<section id=\"559393\" 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=\"559393\">\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\/20\/what-were-tracking-on-january-19-2021\/\">\r\n                            What we\u2019re tracking on January 19 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\/20\/what-were-tracking-on-january-19-2021\/\" 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\/20\/what-were-tracking-on-january-19-2021\/')\">\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\/20\/what-were-tracking-on-january-19-2021\/\">\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 we\u2019re tracking on January 19 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/what-were-tracking-on-january-19-2021\/\">\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\/20\/what-were-tracking-on-january-19-2021\/&title=What we\u2019re tracking on January 19 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+we%E2%80%99re+tracking+on+January+19+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fwhat-were-tracking-on-january-19-2021%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\/20\/what-were-tracking-on-january-19-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559393\" class=\"content-area-description single-story post-559393 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-cabinet-shuffle tag-donald-trump tag-enterpriseam tag-joe-biden tag-us tag-what-were-tracking-today 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_27645\"\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\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Good morning, everyone. A very smart Egyptian-American friend of ours recently likened <\/strong><strong>us <\/strong><strong>all to \u201cnon-voting subjects\u201d <\/strong>of a global American sphere of influence. Are you educated? A participant in this thing called global capitalism? Like the idea of democracy? Then your wagon is tied to Amreeka whether you like it or not, however much we may admire a softer approaches to capitalism and more sensible approaches to things like social welfare and inclusion (cf: Canada, France, Scandinavia).<\/p><p><strong>And so it is that we cheer this morning the departure of Agent Orange <\/strong>and the swearing in at 7pm CLT of decent human beings as president and vice president of the United States.<\/p><p><strong>Joe Biden will be sworn in today at noon Washington time as the 46th US <\/strong><strong>president<\/strong> at the Capitol in Washington, DC. Kamala Harris will become the 49th vice president \u2014 and the first woman and first person of color to hold the position.<\/p><p><strong>The event this year has been marred by the <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2021\/01\/15\/us\/politics\/inauguration-security.html\">threat of violence<\/a><\/strong> and all 50 US states are bracing themselves, with several <a href=\"https:\/\/nypost.com\/2021\/01\/17\/armed-demonstrations-unfold-ahead-of-inauguration-day\/\">already seeing<\/a> armed demonstrations. <strong>Meanwhile, the departing president <\/strong>(can we all stop saying his name now?)<strong> is throwing himself a farewell party<\/strong>, having requested a red carpet, a military parade (which he may not get), and a large crowd of supporters, reports <a href=\"https:\/\/www.theguardian.com\/us-news\/2021\/jan\/18\/trump-sendoff-ceremony-biden-inauguration-day\">the Guardian<\/a>.<\/p><p><strong>Biden will start to roll back the clock to 2016 from day one<\/strong>, signing executive orders to end the travel ban on Muslim-majority countries and rejoin the Paris climate agreement, reports <a href=\"https:\/\/edition.cnn.com\/2021\/01\/16\/politics\/joe-biden-executive-orders-paris-climate-accord-muslim-ban\/index.html\">CNN<\/a>. He will also take executive action to freeze evictions and student loan payments during the covid-19 pandemic, and <a href=\"https:\/\/www.ft.com\/content\/ae505da8-d38b-4e8a-85dd-b346e5d23660\">maintain the travel ban<\/a> on the UK and much of Europe. You can also look for him to <a href=\"https:\/\/www.reuters.com\/article\/us-usa-biden-antitrust-exclusive\/exclusive-biden-administration-considers-creating-white-house-antitrust-czar-sources-idUSKBN29O2PT\">appoint an antitrust czar at the White House<\/a>.<\/p><p><strong>Expect to see a more liberal USD, swift stimulus, and climate change action- The key <\/strong><strong>takeaways from <\/strong>incoming Treasury Secretary Janet Yellen\u2019s Senate confirmation hearing:<\/p><ul>\n<li><strong>Expect big stimulus:<\/strong> The former Fed chair urged Congress to <a href=\"https:\/\/www.reuters.com\/article\/us-global-forex\/dollar-slides-as-investors-look-to-yellen-comments-on-stimulus-idUSKBN29O03Q\">\u201cact big\u201d<\/a> and push ahead with a large stimulus package to prop up the US economy.<\/li>\n<li><strong>Democrats accept Agent Orange\u2019s tax cuts:<\/strong> Yellen said the administration <a href=\"https:\/\/www.reuters.com\/article\/us-usa-biden-yellen-taxes\/yellen-says-bidens-focus-now-is-providing-relief-not-raising-taxes-idUSKBN29O287?il=0\">has no plans<\/a> to raise corporate taxes to pre-2017 levels to fund the extra spending.<\/li>\n<li><strong>A hands-off approach to the greenback (QE aside):<\/strong> The US will oppose attempts by other countries to manipulate their currencies, she said, pledging to take a hands-off approach to the currency.<\/li>\n<\/ul><p><strong>US stocks climbed higher on Yellen\u2019s statements: <\/strong>The S&amp;P 500 blue-chip index <a href=\"https:\/\/www.wsj.com\/articles\/u-s-stock-futures-rise-ahead-of-yellens-testimony-11611045783?mod=hp_lead_pos4\">was up<\/a> 0.5%, the Dow Jones 0.4%, and the Nasdaq 0.6% as expectations that the Biden administration will push for large-scale stimulus measures.<\/p><p><strong>Republican heavyweight Mitch McConnell finally seems to be taking off his MAGA hat. <\/strong>The Senate majority leader yesterday <a href=\"https:\/\/apnews.com\/article\/mcconnell-trump-fed-lies-to-mob-36871d68df56a10be1c46ed364ad6de6\">explicitly blamed<\/a> Trump for the siege on Capitol Hill, accusing him of \u201cprovoking\u201dhis loyalists into attempting to prevent the certification of the election. This comes as Republicans mull which way to vote in Trump\u2019s upcoming impeachment trial.<\/p><p><strong>The lightest, most fun piece on the transition of power today: <\/strong><a href=\"https:\/\/www.nytimes.com\/2021\/01\/18\/us\/politics\/white-house-biden-trump.html\">They prepare the White<\/a><a href=\"https:\/\/www.nytimes.com\/2021\/01\/18\/us\/politics\/white-house-biden-trump.html\">House for a new president. They have 5 hours.<\/a><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>Rumors of a cabinet shuffle continue to swirl:<\/strong> More names have been added to the list of ministers suspected to be on their way out of government should a cabinet shuffle come to pass. Sources told <a href=\"https:\/\/bit.ly\/2KtbM7i\">Al Shorouk<\/a> that the aviation, higher education, irrigation, local development and manpower ministers, among others, could all be heading for the exit. Sources <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3dda300-7982-4d85-ba1a-df2f1421f659\">claimed earlier this month<\/a> that members of the cabinet\u2019s economic group were all safe, but that the environment, culture, and tourism ministers could leave the stage.<\/p><p><strong>Egypt faces Russia at the 2021 Handball World Championships at 7pm CLT today <\/strong>before taking on Belarus at 4:30pm CLT on Friday and Slovenia at 7pm CLT on Sunday.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We explore how the \u201coil-for-development\u201d agreement \u2014 our most recent and expansive mechanism for infrastructure diplomacy \u2014 is stoking excitement among Egyptian infrastructure developers, who see it as a chance to expand overseas. Insiders tell us, though, that greater clarity from policymakers and additional incentives will be needed before they fully commit to the agreement.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-shuffle\/\">cabinet shuffle<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559394\" 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=\"559394\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/559394\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559394\" class=\"content-area-description single-story post-559394 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/SomabayEF_Enterprise_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Somabay Endurance Festival will be taking place at Somabay for the first time. With a phenomenal swim, beautiful cycling route, and truly unique run course, the Endurance Festival at Somabay will be like nothing you\u2019ve experienced before. Mark your calendars for April 8-10 for the Spring Edition.<\/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=\"559395\" 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=\"559395\">\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\">OUTLOOK<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/imf-gives-policymakers-top-marks-for-covid-response\/\">\r\n                            IMF gives policymakers top marks for covid response                        <\/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\/20\/imf-gives-policymakers-top-marks-for-covid-response\/\" 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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Speaking at a webinar we attended yesterday on the economic policy response to covid-19, Bakhache spoke highly of how an aggressive economic reform program starting in 2015 \u2014 including the phasing out of ruinous energy subsidy \u2014 combined with healthy FX reserves to help Egypt weather the covid storm.<\/p>\n<p><strong>With economic indicators pointing in the right direction, it\u2019s unlikely Egypt will need <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">further IMF funding<\/a><\/strong> by the end of the current fiscal year, Bakhache said. \u201cWithin the approved budget there are sufficient contingencies to allow the government to shift resources and priorities, and on the monetary side reserves are at a comfortable level,\u201d said Bakhache, noting that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21258759-15a5-4f32-bd15-b6710a8f13f6\">engagement with the IMF after the current standby facility wraps up<\/a> will be dependent on what the Egyptian government\u2019s goals are.<\/p>\n<p><strong>But economic growth doesn\u2019t mean inclusive growth:<\/strong> \u201cWe would like to see more of a spillover from these nice macro numbers into more employment. Egypt needs higher levels of inclusive growth,\u201d Bakhache said. The growth reflected in Egypt\u2019s macro indicators has been rooted more in consumption than in investment, which has been largely driven by government spending. A deepening of structural reforms, a rethinking of import barriers, and a focus on job creation will be key going forward, he said.<\/p>\n<p><strong>THE CONTINENTAL PERSPECTIVE- African countries should take advantage of today\u2019s high-liquidity environment to improve their borrowing profiles<\/strong>, said Elina Ribakova, deputy chief economist at the Institute of International Finance in Washington. Ribakova advises developing economies to \u201cbe very opportunistic in terms of your borrowing and don\u2019t be too enthusiastic and borrow at any terms, and develop relationships with investors.\u201d Acknowledging the diversity of the region\u2019s monetary policies, Ribakova said further stability and predictable policy was needed to attract longer term investments.<\/p>\n<p><strong>On vaccine distribution efforts in the continent<\/strong>, Bakhache said IMF facilities for budget support did not specifically take into account a scheme for vaccine acquisition, though Marina Wes, World Bank country director for Egypt, Yemen and Djibouti, said the World Bank does have facilities for vaccine purchase that are being developed in some low-income countries in Africa, considering the general underdeveloped state of healthcare services across the continent. Support programs are important, says Ribakova, since \u201cif there are pockets of infections it will still come back to affect the global economy.\u201d<\/p>\n<p><strong>But don\u2019t expect a quick recovery once vaccines are doled out: <\/strong>Wes said the World Bank does not forecast a V-shaped curve indicating a sudden bounceback. \u201cWe expect the pandemic will scale down potential output for some time. It will be a slower rebound where it will take a couple of years to get back onto the growth path.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/institute-of-international-finance\/\">Institute of International Finance<\/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\/outlook\/\">OUTLOOK<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"559397\" 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=\"559397\">\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\">REFORM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/public-still-private-reuters-says\/\">\r\n                            Public still &gt; private, Reuters says                        <\/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\/20\/public-still-private-reuters-says\/\" 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\/20\/public-still-private-reuters-says\/')\">\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\/20\/public-still-private-reuters-says\/\">\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=Public still > private, Reuters says&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/public-still-private-reuters-says\/\">\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\/20\/public-still-private-reuters-says\/&title=Public still > private, Reuters says\">\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=Public+still+%3E+private%2C+Reuters+says+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fpublic-still-private-reuters-says%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\/20\/public-still-private-reuters-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/241.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559398\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/public-still-private-reuters-says\/241-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/241.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"241.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/241.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/241.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559397\" class=\"content-area-description single-story post-559397 post type-post status-publish format-standard has-post-thumbnail hentry category-reform tag-enterpriseam tag-imf tag-investment-watch tag-policy tag-public-sector tag-reform tag-state-privatization-program tag-state-owned-enterprises tag-world-bank 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-02\"><\/a> <strong>Egyptian state-owned companies are \u201ceclipsing\u201d the private sector <\/strong>despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">IMF-backed structural reforms<\/a> designed to reorientate the economy toward private sector growth, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN29O1DJ\">Reuters<\/a> writes. Revenues at 17 non-oil, public sector holding companies more than doubled from July 2016 to June 2019 to EGP 60.6 bn, while income after tax more than quadrupled, according to Reuters calculations using <a href=\"https:\/\/ent.news\/2021\/1\/Holding_companies-FINMIN-DATA.pdf\">Finance Ministry data (pdf)<\/a>.<\/p>\n<p><strong>Meanwhile, in the private sector:<\/strong> Non-oil private sector activity expanded in only five of the 36 months during the same period, Reuters says, pointing to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd93da9f-bbe3-44e1-85af-bddf65789ecf\">the IHS \/ Markit Purchasing Managers Index<\/a>.<\/p>\n<p><strong>Ready for the caveat? <\/strong>It\u2019s a bit of an apples to oranges comparison, as the PMI does not measure revenue or profit, but is a \u201ccomposite gauge\u201d that reflects the sentiment of purchasing managers at 400 private-sector companies. The gauge dipped into contraction territory in December after edging into expansion the month before.<\/p>\n<p><strong>And please don\u2019t get us started on the many ways to gin up paper profits at moribund state holding companies\u2026<\/strong><\/p>\n<p><strong>Still, Reuters is picking up on a theme the World Bank touched on recently<\/strong>, writing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38b1261a-92be-4b13-9b9d-72bdf1261ddc\">in a<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38b1261a-92be-4b13-9b9d-72bdf1261ddc\">report last month<\/a> that tax exemptions and weaknesses in antitrust legislation as applied to state-owned businesses have a dampening effect on private sector growth. The economic reform program, it said, is yet to make a meaningful impact on private investment, which continues to lag behind the historical average despite strong economic growth.<\/p>\n<p><strong>Market effect plays a role here: There\u2019s been a pullback from foreign direct investment globally<\/strong> in the past four years amid turbulent conditions. Consider this: FDI in Egypt fell between 2016 and 2017 (and paused again in 2020 thanks to the pandemic), but <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/16\/why-is-fdi-declining-in-egypt-and-should-we-be-worried\/\">the country\u2019s share of global FDI rose at the same time<\/a> even as the global market for investment shrank.<\/p>\n<p><strong>High interest rates \u2014 necessary to lure in the carry trade and rebuild FX reserves \u2014 have been a big brake on private investment.<\/strong> With rates sky-high after the float of the EGP, we\u2019ve seen a three-year period in which it has made no sense for private-sector companies to take on debt to finance capital expenditures. Conventional wisdom among bankers is that capex borrowing will only start to stage a comeback later this year as rates continue to ease. And in the 12-18 months before the float, private investment stalled because FX simply wasn\u2019t available at the official market rate.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">USD 5.2 bn standby loan<\/a><\/strong><strong> agreed with the IMF last year is partly conditioned<\/strong> on the government making it easier for private firms to compete against SOEs and improving the transparency of public sector organizations.<\/p>\n<p><strong>The story also notes that the privatization program is yet to deliver the goods<\/strong>, largely due to poor market conditions, most recently thanks to the slump in investor interest in emerging markets that accompanied the global pandemic.<\/p>\n<p><strong>A new plan to bring the private sector into the fold?<\/strong> \u201cThe government plans to allow the private sector to manage several SOEs on behalf of the public sector in the transportation, tourism and housing sectors,\u201d a Finance Ministry spokesperson told Reuters. Meanwhile, the Sovereign Wealth Fund is <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97d049e6-a61e-4b0c-889d-f141f384cee9\">shopping military-owned companies to private investors at home and abroad<\/a><\/strong>, starting with Wataniya Petroleum and bottled water producer Safi. The two subsidiaries of the military\u2019s NSPO could be fully privatized and will likely see 70-80% stakes offered to the private sector.<\/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\/imf\/\">IMF<\/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\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-sector\/\">public sector<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/reform\/\">REFORM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-owned-enterprises\/\">state-owned enterprises<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"559399\" 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=\"559399\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/paving-the-way-for-the-gas-hub\/\">\r\n                            Paving the way for the gas hub                        <\/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\/20\/paving-the-way-for-the-gas-hub\/\" 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\/20\/paving-the-way-for-the-gas-hub\/')\">\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\/20\/paving-the-way-for-the-gas-hub\/\">\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=Paving the way for the gas hub&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/paving-the-way-for-the-gas-hub\/\">\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\/20\/paving-the-way-for-the-gas-hub\/&title=Paving the way for the gas hub\">\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=Paving+the+way+for+the+gas+hub+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fpaving-the-way-for-the-gas-hub%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\/20\/paving-the-way-for-the-gas-hub\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/242.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559400\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/paving-the-way-for-the-gas-hub\/242-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/242.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"242.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/242.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/242.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559399\" class=\"content-area-description single-story post-559399 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-chevron tag-delek-drilling tag-energy tag-enterpriseam tag-israel tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>We\u2019re on trac<\/strong><strong>k to receive 7 bcm of natural gas from Israel through new and <\/strong><strong>improved pipelines in the EastMed:<\/strong> Chevron, Delek Drilling and Israel Natural Gas Lines (INGL) will spend USD 235 mn to lay a new subsea pipeline and upgrade existing lines, enabling the companies to ship 7 bcm of natural gas to Egypt each year, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-19\/chevron-to-invest-in-pipelines-to-export-israeli-gas-to-egypt\">Bloomberg<\/a> reports, citing a Delek statement. The new line will connect the Israeli coastal cities of Ashdod and Ashkelon, the latter of which is linked to Egypt via the EMG pipeline.<\/p>\n<p><strong>In details:<\/strong> The new pipeline is expected to cost USD 228 mn with the remainder being spent on expanding other lines, Delek said, without specifying which pipelines would receive investment. Delek and Chevron will pay for 56% of the new line, and INGL \u2014 which will build it \u2014 will cover the remaining 44%.<\/p>\n<p><strong>A year of imports:<\/strong> Egypt began importing gas from Israel\u2019s offshore Tamar and Leviathan gas fields under the landmark <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/israel-to-boost-gas-supply-to-egypt-by-34-after-changes-to-landmark-agreement\/\">USD 19.5 bn<\/a> agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b01eeb3-86ed-4805-a41e-59b38ccb0709\">in January last year<\/a>. Delek and former operator Noble Energy were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/919cbcc3-19c1-40de-960a-8104e7600b60\">reportedly<\/a> aiming to send 1.5-3 bcm Egypt\u2019s way in 2020 before gradually increasing the supply to 4-5 bcm in 2021 and 7 bcm in 2022. The agreement will see Egypt import 85.3 bcm of gas between 2020 and 2034.<\/p>\n<p><strong>Chevron- The new company on the block:<\/strong> The US energy giant <a href=\"https:\/\/www.chevron.com\/stories\/chevron-announces-agreement-to-acquire-noble-energy\">acquired Noble Energy<\/a> for USD 5 bn last year, giving it a 39.7% stake in Leviathan and 32.5% of Tamar.<\/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\/chevron\/\">Chevron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/delek-drilling\/\">Delek Drilling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559401\" 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=\"559401\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/\">\r\n                            Vitabiotics to invest EGP 1 bn in Egypt business                        <\/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\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/\" 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\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/')\">\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\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/\">\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=Vitabiotics to invest EGP 1 bn in Egypt business&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/\">\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\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/&title=Vitabiotics to invest EGP 1 bn in Egypt business\">\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=Vitabiotics+to+invest+EGP+1+bn+in+Egypt+business+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fvitabiotics-to-invest-egp-1-bn-in-egypt-business%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\/20\/vitabiotics-to-invest-egp-1-bn-in-egypt-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559401\" class=\"content-area-description single-story post-559401 post type-post status-publish format-standard hentry category-investment-watch tag-dhl tag-enterpriseam tag-germany tag-health tag-investment-watch tag-logistics 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>UK-based nutraceutical player <\/strong><strong><a href=\"https:\/\/www.vitabiotics.in\/\">Vitabiotics<\/a><\/strong><strong> will invest EGP 1 bn in its Egypt arm over <\/strong><strong>the next five years<\/strong> to expand production capacity, Vitabiotics Egypt Chairperson Yasmine Zayed tells Amwal Al Ghad. The investment is expected to finance upgrades to the group\u2019s manufacturing capabilities which will allow Vitabiotics Egypt to locally produce 24 additional products here. Vitabiotics\u2019 local arm is a joint venture with <a href=\"https:\/\/www.linkedin.com\/company\/magicpharma\">Magic Pharma<\/a>.<\/p>\n<p><strong>Meanwhile, keep an eye on Macro Pharma: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2061e7c-9714-4444-bf3a-f06bfa043e01\">Alta Semper-backed<\/a> company is an industry leader and has hired CI Capital and Rencap to quarterback <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e84a876-0331-4956-b7f3-badee6542278\">an IPO in the first half of this year<\/a>.<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS- DB Schenker and DHL are interested in getting <\/strong><strong>involved with more logistics projects<\/strong> in Egypt, German ambassador to Egypt Cyrill Nunn <a href=\"https:\/\/bit.ly\/35RoFQ4\">told Transport Minister Kamel El Wazir<\/a> yesterday. DB Schenker\u2019s Egypt arm is already working on the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e3b8bdb-8453-4aa5-b0f5-aa1c04e5a6cf\">Sixth of October dry port<\/a> build-operate-transfer contract as part of a consortium with Elsewedy Electric.<\/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\/dhl\/\">DHL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559402\" 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=\"559402\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/everybody-loves-debt\/\">\r\n                            Everybody loves debt\u2026                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/everybody-loves-debt\/\" 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\/20\/everybody-loves-debt\/')\">\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\/20\/everybody-loves-debt\/\">\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=Everybody loves debt\u2026&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/everybody-loves-debt\/\">\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\/20\/everybody-loves-debt\/&title=Everybody loves debt\u2026\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Everybody+loves+debt%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Feverybody-loves-debt%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\/20\/everybody-loves-debt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559402\" class=\"content-area-description single-story post-559402 post type-post status-publish format-standard hentry category-debt-watch tag-banque-du-caire tag-banque-misr tag-cib tag-debt-watch tag-dongfeng tag-efg-hermes tag-el-nasr-automotive tag-enterpriseam tag-european-investment-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>A<\/strong><strong> fresh EGP 170 mn securitized bond issuance EFG Hermes is looking to take to<\/strong><strong> market should soon get regulatory approval<\/strong>, Financial Regulatory Authority head Mohamed Omran said yesterday, according to <a href=\"https:\/\/bit.ly\/3qDEUs7\">Hapi Journal<\/a>. The FRA hopes to increase debt instrument issuances by 15-20%, said Omran, particularly considering the increased recent surge in securitized bond issuances.<\/p>\n<p><strong>WHO\u2019S IN THE MARKET FOR DEBT? <\/strong><\/p>\n<p><strong>El Nasr wants money for its EV venture:<\/strong> El Nasr Automotive is in negotiations for a EGP 1.4 bn syndicated loan from four banks to finance its electric vehicle assembly facility, El Nasr Managing Director Hany El Kholy tells <a href=\"https:\/\/bit.ly\/38UoCoG\">Al Mal<\/a>. The company is seeking funds to cover 70% of the factory\u2019s costs from CIB, the National Bank of Egypt, Banque Misr, and Banque du Caire. El Nasr was said to have been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/912d76c7-13be-4ade-a4ec-2be0d77cd29a\">in negotiations<\/a> in November with a syndicate of local banks for a EGP 2 bn facility.<\/p>\n<p><strong>This comes a day after the company <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ebc60e-2d0f-40a7-a82e-41296a02f798\">signed the final contracts<\/a><\/strong><strong> with <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de1f6f99-9bd2-4ea1-9095-5614928ea38d\">China\u2019s Dongfeng<\/a><\/strong><strong>. <\/strong>The two companies plan to eventually produce 25k electric vehicles per year at an expected cost of some EGP 2.5 bn.<\/p>\n<p><strong>Banque Misr has signed an agreement with the European Investment Bank<\/strong> for the first EUR 425 mn tranche of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/adcce9af-3d97-4c60-b435-6b257c48b565\">EUR 750 mn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/adcce9af-3d97-4c60-b435-6b257c48b565\">loan<\/a> for on-lending to SMEs, the bank said in <a href=\"https:\/\/ent.news\/2021\/1\/BM-EIB-425mn-loan.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2021\/1\/BM-EIB-425mn-loan.pdf\">(pdf)<\/a>. The proceeds will be used to provide six-year loans to help SMEs cope with the repercussions of covid-19.<\/p>\n<p><strong>Palm Hills Development\u2019s board of directors signed off on a EGP 1.28 bn loan<\/strong> from a syndicate of banks led by the National Bank of Egypt for funding of the company\u2019s The Crown development, according to an EGX <a href=\"https:\/\/ent.news\/2021\/1\/Palm-hills.pdf\">disclosure (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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/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\/dongfeng\/\">Dongfeng<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/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=\"559403\" 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=\"559403\">\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\">Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/efg-was-busy-last-year\/\">\r\n                            EFG was busy last year                        <\/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\/20\/efg-was-busy-last-year\/\" 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\/20\/efg-was-busy-last-year\/')\">\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\/20\/efg-was-busy-last-year\/\">\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=EFG was busy last year&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/efg-was-busy-last-year\/\">\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\/20\/efg-was-busy-last-year\/&title=EFG was busy last year\">\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=EFG+was+busy+last+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fefg-was-busy-last-year%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\/20\/efg-was-busy-last-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/246.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559404\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/efg-was-busy-last-year\/246-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/246.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"246.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/246.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/246.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559403\" class=\"content-area-description single-story post-559403 post type-post status-publish format-standard has-post-thumbnail hentry category-finance tag-abu-dhabi tag-dubai tag-efg-hermes tag-egx tag-enterpriseam tag-finance tag-frontier-markets tag-kenya tag-kuwait tag-mena tag-middle-east tag-msci tag-oman wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EFG Hermes topped brokerage league tables in Egypt, Dubai, Kenya and Kuwait in 2020<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/1\/EFG-NR-Global-Brokerage-Rankings-ENG.pdf\">press release (pdf)<\/a>. EFG topped the EGX\u2019s brokerage league tables all year to capture 36.4% market share, while the investment bank boasted market shares of 32.5% in the Dubai Financial Market and 58.3% in Nasdaq Dubai. Over in Kenya, EFG captured 52% of the market only three years after entering the market, \u201csignificantly outpacing all other players.\u201d The firm also consolidated its seat at the top of Kuwait\u2019s brokerage league table for the third consecutive year as trading activity picked up before and after the MSCI event <a href=\"https:\/\/ent.news\/2021\/1\/MSCI_Nov20_QIRPR.pdf\">in November<\/a>, which saw the market upgraded to EM status. The upgrade helped EFG set a record for the number of total executions across the MENA region with USD 2.7 bn traded.<\/p>\n<p><strong>The firm remained among the top players in Abu Dhabi, Nigeria, and Oman <\/strong>and was the number two foreign broker in Saudi with a market share of 2.2%. EFG Hermes currently operates in 12 markets in MENA and covers some 75 frontier markets.<\/p>\n<p><strong>EFG sees <\/strong><strong>growing foreign inflows into frontier and emerging markets as an asset class<\/strong>, said Ali Khalpey, CEO of EFG Hermes Frontier. The firm will work to \u201cgain greater footing in Sub-Saharan Africa as well as Southeast Asia by launching new products, offering new services, and creating partnerships,\u201d he 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\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/frontier-markets\/\">frontier markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kenya\/\">Kenya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east\/\">Middle East<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/msci\/\">MSCI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oman\/\">Oman<\/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=\"559405\" 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=\"559405\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/\">\r\n                            Work on the high-speed electric rail won\u2019t start until the end of the year.                        <\/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\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/\" 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\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/')\">\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\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/\">\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=Work on the high-speed electric rail won\u2019t start until the end of the year.&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/\">\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\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/&title=Work on the high-speed electric rail won\u2019t start until the end of the year.\">\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=Work+on+the+high-speed+electric+rail+won%E2%80%99t+start+until+the+end+of+the+year.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fwork-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year%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\/20\/work-on-the-high-speed-electric-rail-wont-start-until-the-end-of-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559405\" class=\"content-area-description single-story post-559405 post type-post status-publish format-standard hentry category-transport tag-arab-contractors tag-enterpriseam tag-orascom-construction tag-osama-bishai tag-siemens tag-transport tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Work on the USD 23 bn high-speed electric rail network will begin towards the end<\/strong><strong> of the year<\/strong>, CEO Osama Bishai told <a href=\"http:\/\/bit.ly\/3sLPf7h\">Al Arabiya<\/a> yesterday. It\u2019s going to take 6-8 months to put financing in place, he said. OC is responsible for 15-35% of the construction works on the project\u2019s first phase, which will cost USD 3 bn. OC, Arab Contractors, and Siemens <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1038c78f-9a09-43cf-a58e-8d9cf988ffd7\">signed an MoU<\/a> with the National Authority for Tunnels this week to design, install, and commission the rail system. The railway 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\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-bishai\/\">Osama Bishai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559406\" 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=\"559406\">\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\/20\/finmin-issues-unified-tax-act-bylaws\/\">\r\n                            FinMin issues Unified Tax Act bylaws                        <\/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\/20\/finmin-issues-unified-tax-act-bylaws\/\" 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\/20\/finmin-issues-unified-tax-act-bylaws\/')\">\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\/20\/finmin-issues-unified-tax-act-bylaws\/\">\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=FinMin issues Unified Tax Act bylaws&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/finmin-issues-unified-tax-act-bylaws\/\">\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\/20\/finmin-issues-unified-tax-act-bylaws\/&title=FinMin issues Unified Tax Act bylaws\">\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=FinMin+issues+Unified+Tax+Act+bylaws+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Ffinmin-issues-unified-tax-act-bylaws%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\/20\/finmin-issues-unified-tax-act-bylaws\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/248.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559407\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/finmin-issues-unified-tax-act-bylaws\/248-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/248.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"248.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/248.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/248.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559406\" class=\"content-area-description single-story post-559406 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-finance-ministry tag-house-of-representatives tag-legislation-watch tag-mohamed-maait tag-sovereign-sukuk-act tag-sukuk tag-tax tag-unified-tax-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b157b40b-45d7-455d-9b8f-a52f21851d0e\">Unified Tax Act<\/a><\/strong><strong>\u2019s executive regulations are up for public consultation<\/strong> after the Finance Ministry finalized the draft regulations, according to a ministry <a href=\"https:\/\/bit.ly\/3bR7eD9\">statement<\/a>. Among those giving their input and feedback on the <a href=\"https:\/\/ent.news\/2021\/1\/unified-tax-procedures-law-draft.pdf\">regs (pdf)<\/a> until 4 February: The Federation of Egyptian Chambers of Commerce, the Egyptian Tourism Federation, the Egyptian Federation of Investors Associations, and the Federation of Egyptian Industries.<\/p>\n<p><strong>Refresher on the law:<\/strong> The Unified Tax Act, which was passed last year, saw the creation of Egypt\u2019s unified tax platform, which went live <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48e0d573-1690-4010-b404-18b22ca18587\">earlier this month<\/a> as a key part of the government\u2019s plan to overhaul tax administration, encourage informal businesses to go legit, stimulate investment, and grant authorities better oversight on commercial transactions and tax accounts. Its trial launch follows the rollout of the first phase of a new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">e-invoicing system<\/a> (which will eventually be linked to the core system) and <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Press\/Pages\/news17-6-2020.aspx\">recent amendments<\/a> which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfa2470d-ab5e-4af9-93a8-1939431e1491\">obliged companies<\/a> to file their taxes electronically as of this year. The act also imposes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/217e763b-cdcf-44f6-b096-78fa631a2588\">tighter deadlines<\/a> on companies filing VAT returns and imposes penalties on late filers.<\/p>\n<p style='font-size: 18px;font-weight: bold' >Draft sukuk bill gets committee approval<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f1de01a-6e3e-420b-93d3-6926dfc21c73\">draft sovereign sukuk law<\/a><\/strong><strong> earned a preliminary nod yesterday from the House<\/strong><strong> Economic Committee<\/strong>, the committee's deputy head Ahmed Farghal tells <a href=\"https:\/\/bit.ly\/38VSKzL\">Al Mal<\/a>. The legislation would put into place a framework governing how sukuk are created and traded, and define the rights and responsibilities of investors. <strong>Check out <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8943e6f1-9b79-46d8-815d-d76d91a75de4\">our explainer<\/a><\/strong><strong> for the lowdown on how sukuk work.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/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\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-sukuk-act\/\">Sovereign Sukuk Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-tax-act\/\">Unified Tax 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=\"559408\" 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=\"559408\">\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\">CURRENT AFFAIRS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/\">\r\n                            Execs at top auditing firm arrested on bribery charges                        <\/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\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/\" 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\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/')\">\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\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/\">\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=Execs at top auditing firm arrested on bribery charges&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/\">\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\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/&title=Execs at top auditing firm arrested on bribery charges\">\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=Execs+at+top+auditing+firm+arrested+on+bribery+charges+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fexecs-at-top-auditing-firm-arrested-on-bribery-charges%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\/20\/execs-at-top-auditing-firm-arrested-on-bribery-charges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559408\" class=\"content-area-description single-story post-559408 post type-post status-publish format-standard hentry category-current-affairs tag-administrative-control-authority tag-corruption tag-current-affairs tag-enterpriseam tag-finance-ministry tag-tax-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>The top two executives of a well-known accounting and auditing firm were <\/strong><strong>arrested yesterday on charges of attempting to bribe a senior Tax Authority official<\/strong>, the Finance Ministry said in <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/release-b-19-1-2021.aspx\">a statement<\/a>. The Administrative Control Authority made the arrest after it found that the executives were trying to understate the tax dues of one of their major clients, the ministry said without revealing the names of the firm or its owner. Salah Mohammady Ibrahim, who heads an arm of the Tax Authority which handles joint stock companies, was the official who resisted the carrot, two sources who spoke to Enterprise on condition of anonymity confirmed.<\/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\/administrative-control-authority\/\">Administrative Control Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/current-affairs\/\">CURRENT AFFAIRS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/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=\"559409\" 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=\"559409\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\">\r\n                            2020 was a surprisingly good year for our non-oil trade balance                        <\/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\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\" 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\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/')\">\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\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\">\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=2020 was a surprisingly good year for our non-oil trade balance&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\">\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\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/&title=2020 was a surprisingly good year for our non-oil trade balance\">\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=2020+was+a+surprisingly+good+year+for+our+non-oil+trade+balance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2F2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance%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\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/249.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559410\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/2020-was-a-surprisingly-good-year-for-our-non-oil-trade-balance\/249-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/249.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"249.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/249.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/249.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559409\" class=\"content-area-description single-story post-559409 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-construction tag-enterpriseam tag-nevine-gamea tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A slowdown in imports during the pandemic helped narrow Egypt\u2019s non-oil<\/strong><strong> trade deficit by 17% y-o-y in 2020<\/strong>, falling to USD 38.3 bn in 2020 from USD 46.2 bn in 2019, Trade Minister Nevine Gamea said in a <a href=\"https:\/\/bit.ly\/3ipQJiF\">statement<\/a>. Non-oil imports fell 12% during the year while exports declined 1%<\/p>\n<p><strong>Remember:<\/strong> These figures don\u2019t include oil and gas trade, whose deficit continued to widen in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1caf2c84-825a-44dc-84e0-19e619e882ed\">1Q<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d28cf123-7ea0-43f5-a2cb-cb815e16b3db\">2Q<\/a> due to collapsing exports. This means that the country\u2019s overall trade balance probably doesn\u2019t look quite as rosy as the non-oil figures imply.<\/p>\n<p><strong>At the top of the class:<\/strong> Construction, which saw the value of exports rise 20% last year to hit EGP 6.1 bn.<\/p>\n<p><strong>And the top destinations? <\/strong>The UAE, US, Italy, Saudi Arabia and Turkey, which received 36% of our total exports last year worth some USD 9 bn.<\/p>\n<p><strong>SPEAKING OF EXPORTS- Fees on nitrogen fertilizer exports will remain in place <\/strong><strong>but will be reduced to EGP 250 per tonne<\/strong>, down from EGP 550 per tonne, according to a Trade Ministry <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2237649\">decision<\/a> issued yesterday. The fees were imposed on local fertilizer manufacturers <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/16\/agriculture-ministry-could-take-measures-against-subsidized-fertilizer-suppliers-for-missing-monthly-deliveries\/\">back in 2018<\/a> when companies began to fall behind on their monthly deliveries to the state and direct their output towards exports. Fertilizer companies had then said <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/18\/egypt-renews-fees-on-fertilizer-exports-to-ensure-govt-gets-its-orders\/\">they lose<\/a> as much as EGP 250 per tonne when selling their output to the government \u2014 which provides the commodity to farmers at a subsidized price. The fee is meant to discourage fertilizer manufacturers from the practice and ensure the government has its needed supply.<\/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\/nevine-gamea\/\">Nevine Gamea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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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=\"559412\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"559413\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/last-nights-talk-shows-on-20-january-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 20 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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/last-nights-talk-shows-on-20-january-2021\/&title=Last Night\u2019s Talk Shows on 20 January 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+20+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Flast-nights-talk-shows-on-20-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\/20\/last-nights-talk-shows-on-20-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559413\" class=\"content-area-description single-story post-559413 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-automation tag-covid-19 tag-digitization tag-enterpriseam tag-imf tag-last-nights-talk-shows tag-mahmoud-mohieldin tag-pandemic tag-technology tag-vaccines tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The main event on the airwaves last night:<\/strong> Masaa DMC\u2019s extended interview with World Bank senior VP and former investment minister Mahmoud Mohieldin. The broadcaster\u2019s YouTube channel is down at the moment, so you can only check out half of the discussion here on El Face (<a href=\"https:\/\/www.facebook.com\/dmctv\/videos\/258009145740904\">watch, runtime: 10:29)<\/a>.<\/p>\n<p>Here are the key takeaways:<\/p>\n<p><strong>It\u2019s still too soon to tell what path the global economy will take<\/strong>, Mohieldin said. Current IMF \/ World Bank projections have global GDP coming in at 4-5% this year, though this will be conditioned on a fast vaccine rollout and the avoidance of debt crises. But even if global growth does mount a strong recovery, this is unlikely to be evenly distributed, with countries such as China and India seeing c.8% growth and states in Africa lagging behind at 2-3%.<\/p>\n<p><strong>Much more needs to be done to help poorer countries fight the pandemic:<\/strong> Low-income countries require some USD 26 bn to receive adequate supplies of vaccines, Mohieldin said. Developed and some emerging countries need to step up to the plate and provide quick funding to the less fortunate or the world risks the pandemic dragging on for longer. By the end of this year, developed countries will have completed vaccination of 60-70% of their populations, however according to some projections some developing countries won\u2019t receive the jabs before 2023-2024, he said.<\/p>\n<p><strong>The time is now for investment in digital:<\/strong> Investment in productivity-enhancing areas of the economy such as digital technology will be critical if the world is to see a strong recovery from the covid crisis, he suggested.<\/p>\n<p><strong>A jobs apocalypse at the hand of technology isn\u2019t a dead cert:<\/strong> The automation brought about by the fourth industrial revolution doesn\u2019t have to result in huge job losses. Although mns of jobs will be made redundant by new technologies, Mohieldin said that new jobs will be created too. It will, however, be important for governments to step in with adequate social protection as societies transition towards a heavily automated future.<\/p>\n<p><strong>Also on the airwaves:<\/strong> Ala Mas\u2019ouleety\u2019s Ahmed Moussa invited on a stream of MPs to berate Information Minister Osama Heikal, who had his turn to address the House of Representatives yesterday. Guests accused him of breaking the law <a href=\"https:\/\/www.youtube.com\/watch?v=kXgs79cQ40s\">(watch, runtime: 4:16)<\/a>, failing to address issues with the media <a href=\"https:\/\/www.youtube.com\/watch?v=Mau9fMbMaDk\">(watch, runtime: 8:28)<\/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\/automation\/\">automation<\/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\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"559414\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559415\" 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=\"559415\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/also-on-our-radar-on-20-january-2021\/\">\r\n                            Also on our radar on 20 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\/20\/also-on-our-radar-on-20-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\/20\/also-on-our-radar-on-20-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\/20\/also-on-our-radar-on-20-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 20 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/also-on-our-radar-on-20-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\/20\/also-on-our-radar-on-20-january-2021\/&title=Also on our radar on 20 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+20+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Falso-on-our-radar-on-20-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\/20\/also-on-our-radar-on-20-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559415\" class=\"content-area-description single-story post-559415 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-egypt-iron-steel tag-endorse tag-enterpriseam tag-fintech tag-mostafa-madbouly tag-new-urban-communities-authority tag-north-coast tag-public-sector tag-religion tag-tourism tag-tourism-and-antiquities-ministry tag-travel tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The mega-welfare project known as Egyptian Iron and Steel just doesn\u2019 want to go down <\/strong><strong>without a fight:<\/strong> The Egyptian Trade Union Federation will file a lawsuit against the government\u2019s decision to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\">liquidate the company<\/a>. The company officials have (rightly, if you ask us) refused to consider a turnaround proposal, the union said in <a href=\"https:\/\/www.etufegypt.com\/archives\/76649\">a statement<\/a> yesterday.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Prime Fintech\u2019s<\/strong> <strong>Endorse<\/strong> <a href=\"https:\/\/alborsaanews.com\/2021\/01\/19\/1413870\">will launch<\/a> its factoring and leasing services this month, with an eye to offer consumer finance services shortly thereafter.<\/li>\n<li><strong><a href=\"https:\/\/cutt.ly\/HjPqIXw\">Al Shrook Scan<\/a><\/strong> will invest EGP 200 mn over the next two years to construct <a href=\"https:\/\/bit.ly\/3iqImmU\">new medical labs<\/a> in Cairo and their first Alexandria branch.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-iron-steel\/\">Egypt Iron &amp; Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/endorse\/\">Endorse<\/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\/mostafa-madbouly\/\">Mostafa Madbouly<\/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\/north-coast\/\">north coast<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-sector\/\">public sector<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/religion\/\">Religion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"559416\" 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=\"559416\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-january-2021\/\">\r\n                            All the latest covid news at home and abroad on 20 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\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-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\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-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\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-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=All the latest covid news at home and abroad on 20 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-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\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-january-2021\/&title=All the latest covid news at home and abroad on 20 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=All+the+latest+covid+news+at+home+and+abroad+on+20+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fall-the-latest-covid-news-at-home-and-abroad-on-20-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\/20\/all-the-latest-covid-news-at-home-and-abroad-on-20-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559416\" class=\"content-area-description single-story post-559416 post type-post status-publish format-standard hentry category-covid-watch tag-afreximbank tag-african-union tag-aviation tag-covax tag-covid-19 tag-enterpriseam tag-uae tag-vaccines tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3p2cyHk\">reported<\/a><\/strong><strong> 899 new covid-19 infections yesterday<\/strong>, up from 878 the day before. Egypt has now disclosed a total of 158,174 confirmed cases of covid-19. The ministry also reported 58 new deaths, bringing the country\u2019s total death toll to 8,696.<\/p>\n<p><strong>Emirates and Etihad Airways are adopting the International Air Transport <\/strong><strong>Association (IATA) Travel Pass app, <\/strong>which can be used by passengers to verify their covid-19 test results and show airlines and authorities whether they\u2019ve been vaccinated, the two airline operators said (<a href=\"https:\/\/www.etihad.com\/en\/news\/etihad-airways-is-one-of-the-first-airlines-globally-to-launch-iata-travel-pass?CID=soc:TWE:2021:Jan:SM-IATATravelPass:LINK:EN:Corporate&utm_source=twitter&utm_medium=social&utm_campaign=SM-IATATravelPass:LINK:Jan-19\">here<\/a> and <a href=\"http:\/\/emirates.com\/media-centre\/emirates-becomes-one-of-the-first-airlines-in-the-world-to-trial-iata-travel-pass-a-digital-platform-for-covid-19-updates-and-test-verification\/\">here<\/a>). Emirates is expecting to trial the app in April.<\/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\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559417\" 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=\"559417\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/what-the-markets-are-doing-on-20-january-2021\/\">\r\n                            What the markets are doing on 20 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\/20\/what-the-markets-are-doing-on-20-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\/20\/what-the-markets-are-doing-on-20-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\/20\/what-the-markets-are-doing-on-20-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 20 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/what-the-markets-are-doing-on-20-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\/20\/what-the-markets-are-doing-on-20-january-2021\/&title=What the markets are doing on 20 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+20+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Fwhat-the-markets-are-doing-on-20-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\/20\/what-the-markets-are-doing-on-20-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559417\" class=\"content-area-description single-story post-559417 post type-post status-publish format-standard hentry category-planet-finance tag-earnings tag-enterpriseam tag-financial-markets 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-10\"><\/a> <strong>Earnings season is kicking into high gear in the US: <\/strong>Goldman Sachs\u2019 bottomline <a href=\"https:\/\/www.goldmansachs.com\/media-relations\/press-releases\/current\/2021-01-19-q4-results.html\">more than doubled<\/a> y-o-y to USD 4.5 bn in 4Q2020, buoyed by Wall Street\u2019s speedy recovery from the pandemic-induced panic. Bank of America, meanwhile, <a href=\"http:\/\/investor.bankofamerica.com\/static-files\/4fdc94ac-f120-4b83-991e-4920135ff74f\">reported<\/a> a 22% y-o-y drop in net income to USD 5.5 bn amid ultra-easy monetary policy by the Fed pushing interest rates to historic lows. <strong>Netflix, meanwhile, <\/strong><strong>had a blast in 2020, <\/strong>crossing the 200 mn subscribers milestone, it said in <a href=\"https:\/\/s22.q4cdn.com\/959853165\/files\/doc_financials\/2020\/q4\/FINAL-Q420-Shareholder-Letter.pdf\">a letter to shareholders (pdf)<\/a>. The streaming giant\u2019s earnings also showed it will no longer need to rely on debt to fuel its future growth, notes <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-19\/netflix-rallies-after-new-shows-attract-more-users-than-expected?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>Coming up today:<\/strong> Morgan Stanley and Procter &amp; Gamble both report their earnings today.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,486<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +5.9%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/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>8,901<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +2.4%)<\/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>5,661<\/p>\n<\/td>\n<td>\n<p>+3.1% (YTD: +12.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,753<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +10.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,798<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +1.1%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,712<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 55.90<\/p>\n<\/td>\n<td>\n<p>+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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.55<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,839<\/p>\n<\/td>\n<td>\n<p>-%<\/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 36,148<\/p>\n<\/td>\n<td>\n<p>-1.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 0.3% yesterday<\/strong> on turnover of EGP 1.4 bn (4.1% above the 90-day average). Foreign investors were net buyers. The index is up 5.9% YTD.<\/p><p><strong>In the green: <\/strong>Dice (+3.0%), Palm Hills (+2.7%) and Oriental Weavers (+1.4%).<\/p><p><strong>In the red: <\/strong>Egyptian Iron &amp; Steel (-2.0%), Juhayna (-1.9%) and Cleopatra Hospital (-1.2%).<\/p><p><strong>Asian markets are up in early trading this morning<\/strong> and futures suggest that markets in Europe and the US will follow them into the green 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\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"559418\" 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=\"559418\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/around-the-world-on-20-january-2021\/\">\r\n                            Around the world on 20 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\/20\/around-the-world-on-20-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\/20\/around-the-world-on-20-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\/20\/around-the-world-on-20-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=Around the world on 20 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/around-the-world-on-20-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\/20\/around-the-world-on-20-january-2021\/&title=Around the world on 20 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=Around+the+world+on+20+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F20%2Faround-the-world-on-20-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\/20\/around-the-world-on-20-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559418\" class=\"content-area-description single-story post-559418 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-diplomacy tag-enterpriseam tag-libya tag-politics tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>IN DIPLOMACY: Libyan rival officials held talks in Hurghada yesterday<\/strong> to determine constitutional arrangements that would set the stage for an upcoming presidential and legislative elections, which peacemakers hope to hold on 24 December, the UN support mission in Libya said in <a href=\"https:\/\/unsmil.unmissions.org\/libya%E2%80%99s-constitutional-committee-begins-its-second-meeting-hurghada-discuss-constitutional\">a statement<\/a>. Officials from the eastern Libya-based Tobruk parliament and the UN-recognized High Council of State were urged by acting UN Libya envoy Stephanie Williams to wrap up talks in no more than two months to meet a political settlement roadmap laid out in Tunisia last November. The Libyan Political Dialogue Forum, which has 75 members that represent all Libyan walks of life, has already agreed on a mechanism to appoint a unified transitional government until the elections are held, the UN support mission <a href=\"https:\/\/unsmil.unmissions.org\/unsmil-announces-lpdf-approves-proposal-selection-mechanism-executive-authority-preparatory-period\">said<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/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\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"559419\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">16<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-regional-infrastructure-diplomacy-is-whetting-the-appetite-of-egyptian-contractors\/\"> \r\n                            How regional infrastructure diplomacy is whetting the appetite of Egyptian contractors<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/how-regional-infrastructure-diplomacy-is-whetting-the-appetite-of-egyptian-contractors\/\" 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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In exchange for Iraqi oil, Egyptian companies wiIl be contracted by our government to both advise Iraq in these fields as well as executing on some of the key projects. This \u201coil-for-reconstruction\u201d agreement is Egypt\u2019s most recent and arguably most crystallized modern example of what we\u2019re calling \u201cinfrastructure diplomacy\u201d \u2014 a form of economic cooperation where our expertise in infrastructure development is used to help drive our diplomatic and strategic aims.<\/p>\n<p><strong>A number of Egyptian contractors and infrastructure companies we\u2019ve spoken with are excited.<\/strong> Despite the pandemic appearing to have delayed the timeline for implementing the agreement, they still see it as a chance to do business during the covid slump and deepen their overseas footprint.<\/p>\n<p><strong>But there are caveats<\/strong><strong>:<\/strong> For one, the countries haven\u2019t yet agreed how exactly the \u201coil-for-reconstruction\u201d agreement will work, leaving companies in the dark about how \u2014 and who \u2014 will be paying them. Firms are reportedly angling for a payment mechanism that rules out arrears, but this isn\u2019t going to be negotiated until officials have agreed the basics of the arrangements. Companies are also pushing for different incentives before they sign themselves, while security assurances are also high on the priority list.<\/p>\n<p><strong>The projects:<\/strong> While specific projects covered by the agreement haven\u2019t yet been agreed, Egyptian and Iraqi officials <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c3b7579-84c0-40af-9030-28d0eb72c87f\">began working on the details last month<\/a> and a full list is expected soon. Housing construction is going to be a key feature due to the level of urban destruction that took place over the course of the last two decades, head of the Egyptian Federation for Construction and Building Contractors and former Arab Contractors Deputy Chairman Mohamed Sami tells Enterprise. Other potential areas of cooperation that were discussed included:<\/p>\n<ul>\n<li><strong>Electricity:<\/strong> Iraq wants Egyptian energy firms to supply equipment and work on rebuilding Iraq\u2019s electricity grid.<\/li>\n<li><strong>Basic infrastructure development:<\/strong> Iraq is looking for Egyptian private sector involvement in construction of roads, agriculture, SME support, and infrastructure investment.<\/li>\n<li><strong>Pharma: <\/strong>Cooperation in developing and manufacturing meds as well as providing training for medical teams.<\/li>\n<li><strong>Mining:<\/strong> Egypt could begin training Iraqi employees in mining, geological surveying.<\/li>\n<li><strong>Unified ticketing for road transport:<\/strong> The transport ministers of Egypt, Iraq and Jordan discussed the possibility of creating a unified ticketing system for road transportation between the three countries.<\/li>\n<\/ul>\n<p><strong>More to come: <\/strong>These could potentially lead to a wider agreement that could see a shared electricity grid and an oil and gas pipeline between Egypt and Iraq that runs through Jordan, the International Cooperation Ministry <a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/3274314885949090?amp%3B__tn__=-R\">said in October<\/a>. The agreements come as part of wider policy to expand on \u201cconnectivity-enhancing infrastructure\u201d in the region to promote regional stability, International Cooperation Minister Rania Al Mashat tells Enterprise.<\/p>\n<p><strong>Strong appetite for the agreement: <\/strong>Although companies are still waiting on the list of projects, there is a high level of interest across all sectors of infrastructure, says Hassan Abdel Aziz, who heads up the African Construction Contractors Association (AFCCA) \u2014 a lobby organization for several regional contractors. Sami concurs, adding that with the scope of the projects expected, there will be something there for everyone. The real estate division of the Federation of Egyptian Chambers of Commerce is planning to meet with the Housing Ministry to discuss the possibility of bringing in more developers to work on the housing projects, division head and Arabia Holding Chairman Tarek Shoukry tells Enterprise.<\/p>\n<p><strong>Egyptian companies are already well established in the country:<\/strong> Orascom Construction, Arab Contractors, Petrojet and local contractor Samco Egypt already operate in the country. Arab Contractors has for years worked on water infrastructure projects in the country, while Orascom Construction helped to rebuild a 1.6 GW power plant there<a href=\"https:\/\/www.orascom.com\/media\/cms_page_media\/2019\/9\/14\/OC%20and%20Siemens%20to%20Rebuild%201.6%20GW%20Power%20Plant%20in%20Iraq_EN_R8F8yTD.pdf\">in 2019 (pdf)<\/a> alongside Siemens.<\/p>\n<p><strong>Many see this as a jumping off point for Egyptian companies to expand regionally.<\/strong> Iraqi officials have indicated that the price tag for reconstructing housing in Iraq and Syria alone could be as high as USD 400 bn, Mohamed Al Bostany, chairman of real estate developer Al Bostany, tells us.<\/p>\n<p><strong>Particularly as the government looks to expand the model to other countries, especially in Africa.<\/strong> Al Mashat tells us that the government plans to capitalize on Egypt's technical expertise and strategic location to become more involved in projects on the continent. We have been getting overtures from Kenya, Tanzania, Libya and even outside the continent in Pakistan, all of which the government is looking into, Deputy Housing Minister Khaled Siddik says.<\/p>\n<p><strong>Caveat #1: Who\u2019s going to pay them?<\/strong> Companies are also looking for the government to set up a disbursement mechanism that will ensure transfer of payments without arrears, head of the Egyptian Federation of Investors Associations Mahram Hilal says. This move would help avoid some of the pitfalls Egyptian companies faced when participating in the reconstruction of Kuwait following the first Gulf War.<\/p>\n<p><strong>Clarity on this is unlikely to be forthcoming until officials sort out who is paying each <\/strong><strong>other what: <\/strong>Fundamentals of the agreement such as who is going to be paying the companies and whether or not Egypt will be purchasing the oil are seemingly still being negotiated. There are two mechanisms currently under discussion, the AFCCA\u2019s Abdel Aziz tells us. The first option would see the Egyptian government pay Iraq for its oil, and Iraq then use the money to pay the contractors. The second would see Egypt take the responsibility for paying the firms, with Iraq handing over the oil without charge. He suggests that the latter might by the likeliest method as it saves Egypt the FX required to pay Iraq for its shipments.<\/p>\n<p><strong>Caveat #2: Duties, fees on construction materials need to be lowered:<\/strong> Development fees and export duties on construction materials, particularly cement, should be lowered, suggests Abdel Aziz. This would not only incentivise contractors with cheaper materials, but may also help our beleaguered cement industry, which could certainly use the export market, he added. A tonne of cement, which is priced at between EGP 600-700, is subject to a EGP 35\/tonne development fee and a 14% VAT by the Finance Ministry<\/p>\n<p><strong>Caveat #3: Safety is a must:<\/strong> Any agreements and contracts must contain provisions ensuring the safety of Egyptian lives and equipment, Shoukry tells us.<\/p>\n<p><strong>Finally, companies would like clarity on the use of labor on these projects: <\/strong>Shoukry says that companies want to know if Egyptian labor will be used or will the Iraqis look to local or Chinese contractors. And if Egyptians will be used, he would like to know if procedures will be put in place to expedite their paperwork and visa requirements.<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Railways:<\/strong> Orascom Construction (OC) and Arab Contractors are working with Siemens on the USD 23 bn high-speed electric rail network after the consortium <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1038c78f-9a09-43cf-a58e-8d9cf988ffd7\">signed an MoU<\/a> with the National Authority for Tunnels earlier this week.<\/li>\n<li><strong>EV future<\/strong>: We should have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fa3cac6-21f1-4d7c-bf73-f6fd8b49d842\">3k charging stations<\/a> ready for electric vehicles around the country in the next three years.<\/li>\n<li><strong>Transit: <\/strong>Some 30k vehicle owners have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ebc60e-2d0f-40a7-a82e-41296a02f798\">applied<\/a> to replace their old cars with newer natgas models under the government\u2019s car transition plan.<\/li>\n<li><strong>Water management:<\/strong> German development agency GIZ <a href=\"https:\/\/environment-analyst.com\/global\/106428\/atkins-supports-sustainable-water-management-in-egypt\">has tapped<\/a>UK environmental consultancy, Atkins, to work with Chemonics Egypt Consultants on boosting energy efficiency in water management.<\/li>\n<li><strong>Wastewater treatment:<\/strong> The Red Sea Water company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/456c677d-5617-4ac5-84e6-bab639e3ad15\">inaugurated<\/a> a new wastewater treatment plant in Marsa Alam with a daily capacity of 700 cbm to be used for irrigation.<\/li>\n<li><strong>Exports:<\/strong> Egypt\u2019s engineering exports <a href=\"https:\/\/ent.news\/2021\/1\/PR-EN-first-six-months.pdf\">grew (pdf)<\/a> 8% y-o-y in 1H2020-2021 to reach USD 1.34 bn.<\/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\/construction\/\">construction<\/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\/hardhat\/\">Hardhat<\/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\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"559421\" 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\/20\/calendar-on-20-january\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559421\" class=\"content-area-description single-story post-559421 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 January (Tuesday): Uber will host a virtual panel discussion titled \u2018Tech for Transport Safety\u2019, which will be the inaugural panel in a <a href=\"https:\/\/ent.news\/2021\/1\/Announcement-Uber-launches-its-first-MENA-wide-series-of-events-called-Ignite-.pdf\">MENA-wide series<\/a> of events under the name Ignite.<\/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>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/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":559392,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-559391","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5d13e1fe-84c8-4b23-b0df-ad94b2b2fc0d","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/238.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>Bye bye, Agent Orange.  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