{"id":559433,"date":"2021-01-21T03:45:47","date_gmt":"2021-01-21T03:45:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=559433"},"modified":"2025-12-16T02:29:28","modified_gmt":"2025-12-16T02:29:28","slug":"bank-audi-to-leave-egypt-handing-the-keys-to-fab","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/bank-audi-to-leave-egypt-handing-the-keys-to-fab\/","title":{"rendered":"Bank Audi to leave Egypt, handing the keys to FAB"},"content":{"rendered":"<section id=\"559435\" 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=\"559435\">\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\/21\/what-were-tracking-on-21-january-2021\/\">\r\n                            What we\u2019re tracking on 21 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\/21\/what-were-tracking-on-21-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We\u2019ve made it through another workweek together<\/strong>, and our rewards are two-fold: A big news day here at home and abroad \u2014 and confirmation that we\u2019re off Thursday-Saturday next week.<\/p><p><strong>LOTS OF NEWS here at home: FAB is buying Bank Audi\u2019s Egypt arm <\/strong>in the latest sale of a Lebanese lender here, <strong>e-Finance may be looking to IPO in 1H2021<\/strong>, joining at least two others who are testing the waters, and the Education Ministry has <strong>overturned foreign ownership limits<\/strong> on investment in the industry. We have the full story on each of these and more in the news well this morning.<\/p><p><strong>PSA- Thursday, 28 January will be a national holiday<\/strong> in observance of Revolution \/ Police Day, Prime Minister Moustafa Madbouly confirmed in <a href=\"https:\/\/bit.ly\/3sJdov6\">a statement<\/a> yesterday. Police Day and the revolution anniversary fall on Monday, but will be observed on Thursday as is now customary for mid-week holidays.<\/p><hr class=\"grey-line\"><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>THE BIG STORY globally: Joe Biden is now the 46th president of the United <\/strong><strong>States<\/strong> after being sworn in at the Capitol yesterday. He delivered a heartfelt speech that pledged to unify a deeply divided nation and overcome the covid-19 crisis \u2014 and restore ties with the rest of the world. \u201cThis is our historic moment of crisis and challenge,\u201d Biden said. \u201cUnity is the path forward. And we must meet this moment as the United States of America. If we do that, \u2026 we will not fail.\u201d<\/p><p><strong>You can watch the full speech here<\/strong> (<a href=\"https:\/\/www.youtube.com\/watch?v=LGukNIEIhTU\">watch, runtime: 21:24<\/a>) \u2014 or if you have 10 hours to spare, you can relive the day in full (<a href=\"https:\/\/www.youtube.com\/watch?v=39vj3oALMDM\">watch, runtime: 9:55:41<\/a>).<\/p><p><strong>Kamala Harris was sworn in as the first woman and first person of color to serve as vice <\/strong><strong>president<\/strong>, taking her oath shortly before the president. You can see the moment here (<a href=\"https:\/\/www.youtube.com\/watch?v=rzj2hgFUFwQ\">watch, runtime: 1:47<\/a>). We loved her double-fist bump with Barack Obama, who attended the inauguration alongside former presidents Bill Clinton and George Bush. Agent Orange departed the White House early in the moring and became the first president in more than century to skip his successor\u2019s searing in.<\/p><p><strong>Biden is making his presence felt<\/strong>, <a href=\"https:\/\/www.nytimes.com\/2021\/01\/20\/us\/politics\/biden-executive-action.html?action=click&amp;module=Spotlight&amp;pgtype=Homepage\">signing 17 executive orders<\/a> to start undoing King Cheeto\u2019s reign of furious incompetence. They include <strong>rejoining the Paris climate agreement, reversing the withdrawal from the World Health Organization, and ending the flight ban<\/strong> on people from Muslim-majority countries. CNN has the full list <a href=\"https:\/\/edition.cnn.com\/2021\/01\/20\/politics\/executive-actions-biden\/index.html\">here<\/a>.<\/p><p><strong>KSA is watching the Biden White House warily <\/strong>after a top Biden intelligence nominee said the US would declassify its report on the murder of Jamal Khashoggi, the Saudi columnist and critic, <a href=\"https:\/\/www.theguardian.com\/world\/2021\/jan\/19\/biden-administration-to-declassify-report-into-khashoggi\">the Guardian<\/a> reports.<\/p><p><strong>Trump\u2019s parting gift: 73 pardons and 70 commutations to former aides, Silicon<\/strong><strong> Valley execs \u2014 and rappers.<\/strong> <a href=\"https:\/\/www.whitehouse.gov\/briefings-statements\/statement-press-secretary-regarding-executive-grants-clemency-012021\/\">The list<\/a> includes former White House Chief Strategist and alt-right godfather Steve Bannon (who faced charges of fraud) former Google executive Anthony Levandowski (who was doing time for stealing trade secrets) and rapper Lil Wayne, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-20\/trump-pardons-bannon-lil-wayne-broidy-but-not-himself?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. <strong>Trump did not give himself or his family preemptive pardons.<\/strong><\/p><p><strong>US stocks surged to a record high at the close of play yesterday<\/strong> amid optimism that the newly inaugurated Biden administration\u2019s USD 1.9 tn stimulus bill will shield the market takes hold, says <a href=\"https:\/\/www.ft.com\/content\/08c11f98-da3d-475b-b484-49d21047defd\">the Financial Times<\/a>.<\/p><p><strong>Columnists are going to have to find something else to write about:<\/strong> Find the newly de-Trumpified POTUS Twitter account <a href=\"https:\/\/twitter.com\/POTUS?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\">here<\/a> and follow <a href=\"https:\/\/twitter.com\/WhiteHouse\">the White House here<\/a>.<\/p><p><strong>Want to go deeper on Biden? <\/strong>Read <a href=\"https:\/\/www.nytimes.com\/2021\/01\/20\/us\/politics\/president-joe-biden.html\">How Joe Biden became a steady hand amid so much<\/a><a href=\"https:\/\/www.nytimes.com\/2021\/01\/20\/us\/politics\/president-joe-biden.html\">chaos<\/a> in the New York Times or get to know him better through <a href=\"https:\/\/www.nytimes.com\/interactive\/2021\/01\/20\/us\/politics\/joe-biden-photos.html?referringSource=articleShare\">this photo essay on his life and decades-long career in politics<\/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>HERE AT HOME-<\/strong><\/p><p><strong>Al Mashat gives House rundown on economic diplomacy: <\/strong>Multilateral and bilateral cooperation with development partners, infrastructure and sustainable development, investing in human resources, and the principles of economic diplomacy were among the topics covered by International Cooperation Rania Al Mashat during <a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/3492459597467950\">her statement<\/a> to the House of Representatives yesterday. Al Mashat also laid out the latest in the homegrown \u201c<a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2018\/12\/04\/new-us1-billion-support-to-egypt-for-enabling-private-sector-led-job-creation\">Egypt Takes Off<\/a>\u201d development program \u2014 which aims to boost job creation, government performance and raise living standards.<\/p><p><strong>Gamea in Sudan for trade fair: <\/strong>Trade Minister Nevine Gamea is at the <a href=\"https:\/\/khartoumexpo.com\/companies\/%D8%A7%D9%84%D8%AF%D9%88%D8%B1%D8%A9-37\/\">International<\/a><a href=\"https:\/\/khartoumexpo.com\/companies\/%D8%A7%D9%84%D8%AF%D9%88%D8%B1%D8%A9-37\/\">Khartoum<\/a><a href=\"https:\/\/khartoumexpo.com\/companies\/%D8%A7%D9%84%D8%AF%D9%88%D8%B1%D8%A9-37\/\">Fair<\/a> in Sudan this week, where she\u2019ll sign a couple of agreements related to business and SMEs with the Sudanese Trade and Industry Ministry, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20012021&amp;id=22caf661-1dfa-4a93-9efe-99ff814e91c3\">Al Shorouk<\/a>. The minister is also expected to hold talks on manufacturing and trade cooperation, the ministry said in a <a href=\"https:\/\/ent.news\/2021\/1\/Trade-Ministry-statement-01-21-2020.pdf\">press release (pdf)<\/a>.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Egypt faces Belarus tomorrow at the 2021 Handball World Championships<\/strong> after <a href=\"https:\/\/www.ihf.info\/media-center\/news\/egypt-get-back-winning-ways\">defeating Russia<\/a> 28-23 in the opening game of the main round yesterday. That places the Pharaohs second in the six-team main round group, with one point less than group leaders Sweden. Egypt will then play Slovenia on Saturday.<\/p><p><strong>AUC\u2019s School of Business is hosting a <\/strong><strong><a href=\"http:\/\/bit.ly\/39MGReQ\">webinar<\/a><\/strong> <strong>next Tuesday, 26 January<\/strong><strong> on <\/strong><strong>\u201cRethinking Macroeconomics in the Digital Age\u201d<\/strong> to discuss how technological change is changing the way we think about macroeconomics, investment, training the labor force and access to finance. The event will feature Subir Lall, the IMF\u2019s deputy director of the Middle East and Central Asia Department. You can register for the webinar <a href=\"https:\/\/bit.ly\/3bX9AAu\">here<\/a>.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/2021-handball-world-championships\/\">2021 Handball World Championships<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auc\/\">AUC<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jamal-khashoggi\/\">Jamal Khashoggi<\/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\/nevine-gamea\/\">Nevine Gamea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"559436\" 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=\"559436\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/559436\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559436\" class=\"content-area-description single-story post-559436 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\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=\"559437\" 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=\"559437\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/the-great-lebanese-bank-sell-off-act-ii\/\">\r\n                            The Great Lebanese Bank Sell Off: Act II                        <\/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\/21\/the-great-lebanese-bank-sell-off-act-ii\/\" 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\/21\/the-great-lebanese-bank-sell-off-act-ii\/')\">\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\/21\/the-great-lebanese-bank-sell-off-act-ii\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Great Lebanese Bank Sell Off: Act II&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/the-great-lebanese-bank-sell-off-act-ii\/\">\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\/21\/the-great-lebanese-bank-sell-off-act-ii\/&title=The Great Lebanese Bank Sell Off: Act II\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Great+Lebanese+Bank+Sell+Off%3A+Act+II+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fthe-great-lebanese-bank-sell-off-act-ii%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\/21\/the-great-lebanese-bank-sell-off-act-ii\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/262.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559438\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/the-great-lebanese-bank-sell-off-act-ii\/262-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/262.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"262.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/262.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/262.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559437\" class=\"content-area-description single-story post-559437 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-bank-audi tag-banking tag-enterpriseam tag-financial-services tag-first-abu-dhabi-bank tag-lebanon tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a><strong> FAB is acquiring Bank Audi\u2019s Egypt arm:<\/strong> First Abu Dhabi Bank (FAB) has signed a final agreement to acquire 100% of Bank Audi\u2019s operations in Egypt and expects to complete the transaction in \u201cthe next few months,\u201d the banks said in <a href=\"https:\/\/www.bankaudi.com.eg\/egypt\/about-the-bank\/news-room\/press-releases\/bank-audi-sal-and-fab-sign-definitive-agreement-for-the-sale-and-purchase-of-100-per-cent-of-bank-audi-sae-egypts-share-capital\">a statement<\/a> yesterday.<\/p>\n<p><strong>We don\u2019t know <\/strong><strong>how much FAB is paying:<\/strong> The banks didn\u2019t disclose the value of the transaction. Chatter had previously put it in the neighborhood of USD 700 mn.<\/p>\n<p><strong>FAB will <\/strong><strong>become one of the largest foreign banks in Egypt<\/strong><strong>:<\/strong> The Emirati lender assets will increase to EGP 120 bn (c. USD 8.1 bn) post-acquisition, making it one of the largest banks in Egypt in terms of assets, the statement said. FAB\u2019s branch count will more than triple to 70, adding Bank Audi\u2019s 53 branches to its existing 17. Audi\u2019s total assets were valued at EGP 83 bn (USD 5.3 bn) at the end of 3Q2020.<\/p>\n<p><strong>Audi is going through tough times <\/strong><strong>back in its home market<\/strong><strong>:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2bfebb4-49e0-44c6-8863-8ada4205e54a\">S&P<\/a> and <a href=\"https:\/\/www.reuters.com\/article\/lebanon-protests-banks\/moodys-downgrades-lebanons-largest-banks-citing-weaker-sovereign-idUSL8N27N9L1\">Moody\u2019s<\/a> both downgraded Audi\u2019s credit rating further into junk status in 2019 following protests that threw the country\u2019s banking sector into a liquidity crisis. The transaction \u201crepresents a strong vote of confidence\u201d in the bank\u2019s governance and business model, bank chairman and CEO Samir Hanna said.<\/p>\n<p><strong>What happens now?<\/strong> The acquisition is pending several procedural approvals from within the banks and final regulatory approvals from the Egyptian and Emirati central banks, the banks said.<\/p>\n<p><strong>ADVISORS- <\/strong>EFG Hermes is sole financial advisor to Audi, with London law firm Dechert and Zulficar & Partners acting as legal advisors. FAB itself and UBS Group AG\u2019s London arm provided financial advisory services to FAB, and <a href=\"https:\/\/ent.news\/2021\/1\/MBH-Press-release-FAB-Acquisition-of-Bank-Audi-20-January-2021.pdf\">Matouk Bassiouny<\/a> and Freshfields Bruckhaus Deringer were legal counsel.<\/p>\n<p><strong>That was Act II \u2014 but what happened in Act I?<\/strong> Another struggling Lebanese bank Blom also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f5950c1-ec0e-48cd-a605-1f1807efcbca\">signed a final agreement<\/a> to sell off its Egypt assets earlier this week. Bahrain\u2019s Bank ABC agreed to purchase the subsidiary for EGP 6.7 bn and hopes to finalize the transaction during the first half of 2021.<\/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\/bank-audi\/\">Bank Audi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559439\" 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=\"559439\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/big-w-for-private-sector-education\/\">\r\n                            Big \u2018W\u2019 for private sector education                        <\/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\/21\/big-w-for-private-sector-education\/\" 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\/21\/big-w-for-private-sector-education\/')\">\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\/21\/big-w-for-private-sector-education\/\">\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=Big \u2018W\u2019 for private sector education&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/big-w-for-private-sector-education\/\">\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\/21\/big-w-for-private-sector-education\/&title=Big \u2018W\u2019 for private sector education\">\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=Big+%E2%80%98W%E2%80%99+for+private+sector+education+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fbig-w-for-private-sector-education%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\/21\/big-w-for-private-sector-education\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/264.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559440\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/big-w-for-private-sector-education\/264-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/264.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"264.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/264.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/264.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559439\" class=\"content-area-description single-story post-559439 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-actis tag-education tag-education-ministry tag-enterpriseam tag-sherif-el-kholy 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>SMART POLICY- Education Ministry scraps 20% cap on foreign ownership <\/strong><strong>of schools:<\/strong> International and private schools in Egypt will no longer face limits on foreign ownership after the Education Ministry <a href=\"https:\/\/ent.news\/2021\/1\/237-followed-by-238.pdf\">reversed (pdf)<\/a> the 20% cap <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/egypt-imposes-20-cap-on-foreign-ownership-of-private-schools\/\">imposed in<\/a> 2019. The decision allows schools to be fully owned by individuals, funds, or companies with foreign or dual nationalities, provided they\u2019re registered and based in Egypt.<\/p>\n<p><strong>The caveat:<\/strong> All school owners \u2014 Egyptian or otherwise \u2014 will be subject to security checks, and the ministry still holds the right to refuse to issue a license on a case-by-case basis. The relevant authorities will have the right to refer individual cases to a specialized committee of education and security officials, which will have the final say on whether to grant a license. This will depend on whether the school would \u201cenrich the education process\u201d or pose a threat to national security, according to the decision.<\/p>\n<p><strong>Industry breathes a sigh of relief: <\/strong>The move is a sign that the government is serious about attracting qualified investors to the industry \u2014 and that merit will take precedence over nationality when it comes to operating a school here, CIRA CEO Mohamed El Kalla told us. GEMS Egypt CEO Ahmed Wahby said the move would drive investment into the sector while also helping current operators improve their services and meet demand.<\/p>\n<p><strong>Background:<\/strong> The 20% foreign ownership limits had <a href=\"https:\/\/enterprise.press\/blackboards\/blackboard\/\">raised serious concerns<\/a> among school operators and investors, who feared the decision would deter investors and slow expansion plans in education, <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/07\/sherif-el-kholy-partner-and-head-of-middle-east-north-africa-actis\/\">one of Egypt\u2019s most promising<\/a> sectors. Investors raised concerns on the damage the decision could inflict on the investment case for Egypt\u2019s education sector in comparison to other emerging markets. They were also wary of the lack of clarity created in the regulatory climate, and the implied uncertainty in the investment climate as the move was pushed forward suddenly, raising concerns that the rules of the game could also be changed just as quickly in other sectors. This prompted the government to engineer a compromise in the form of a <a href=\"https:\/\/enterprise.press\/blackboards\/official-govt-sets-committee-handle-k-12-schools-requests-exceptions-20-foreign-ownership-limit\/\">committee that would handle requests for exemption<\/a> to the 20% cap on a case-by-case basis in January 2020.<\/p>\n<p><strong>OTHER EDUCATION NEWS-<\/strong><\/p>\n<p><strong>The public education system needs some EGP 130 bn to meet its new classroom <\/strong><strong>construction targets<\/strong>, a problem which is compounded by the influx of <a href=\"https:\/\/bit.ly\/39UXmps\">an estimated 800k<\/a> students each year, Education Minister Tarek Shawki said in his address to the House of Representatives yesterday, according to <a href=\"https:\/\/bit.ly\/3oYLXuS\">Youm7<\/a>. The minister also recapped his ministry\u2019s revamp of elementary school curricula and ongoing cooperation with Japan to set up 41 schools teaching Japanese-designed curricula since 2018.<\/p>\n<p><strong>AND GLOBALLY: SAT subject tests have been scrapped by the US CollegeBoard<\/strong> as standardized subject-based tests fall out of favor as an indicator for college admissions, <a href=\"https:\/\/edition.cnn.com\/2021\/01\/19\/us\/college-board-essay-subject-tests-trnd\/index.html\">CNN<\/a> reports. Universities will rely instead on the results of Advanced Placement courses (APs) as indicators of a student\u2019s subject specific knowledge. The main SAT exam will still be administered, though half of colleges in the US made them optional for admissions this year because of covid-19.<\/p>\n<p><strong>SAT exams were canceled in Egypt because of the pandemic<\/strong>, throwing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ee8bdb3-8ae5-44a6-b973-1add3d285f83\">the admissions process<\/a> of universities into disarray, and calling into question universities\u2019 reliance on the tests. But in the absence of a reliable method to ensure academic integrity at schools nationwide, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8369ee4-c603-492b-b4ae-d6bcc5c60e25\">standardized testing remains a useful tool<\/a> in evaluating education.<\/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\/actis\/\">Actis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sherif-el-kholy\/\">Sherif El Kholy<\/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=\"559441\" 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=\"559441\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/e-finance-going-to-market-in-1h\/\">\r\n                            e-Finance going to market in 1H?                        <\/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\/21\/e-finance-going-to-market-in-1h\/\" 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\/21\/e-finance-going-to-market-in-1h\/')\">\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\/21\/e-finance-going-to-market-in-1h\/\">\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=e-Finance going to market in 1H?&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/e-finance-going-to-market-in-1h\/\">\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\/21\/e-finance-going-to-market-in-1h\/&title=e-Finance going to market in 1H?\">\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=e-Finance+going+to+market+in+1H%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fe-finance-going-to-market-in-1h%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\/21\/e-finance-going-to-market-in-1h\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/265.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559442\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/e-finance-going-to-market-in-1h\/265-jpg-31\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/265.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"265.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/265.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/265.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559441\" class=\"content-area-description single-story post-559441 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-bdo tag-e-finance tag-enterpriseam tag-ipo-watch tag-privatization-watch tag-state-privatization-program 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>State-owned payments platform e-Finance looks to be reviving its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5fe0d80-d23b-4f30-b0cc-8aa46f60fff9\">planned IPO<\/a><\/strong><strong>, tapping auditors BDO as an independent financial consultant<\/strong> to assess the company, according to an unconfirmed report in the local press. E-Finance <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/16\/ni-capital-invites-investment-banks-to-advise-on-sidpec-share-sale\/\">had reportedly tapped<\/a> Baker Tilly back in 2019 to prepare the fair value report.<\/p>\n<p><strong>The listing could go ahead in the next quarter:<\/strong> BDO is expected to complete the assessment in the first quarter of the year, with the IPO expected to take place in 2Q2021, the sources said. As with any story citing unnamed sources on the timing of a transaction: Take that with a tablespoon of salt.<\/p>\n<p><strong>And the stake size?<\/strong> Still not set, but look for more at the company\u2019s general assembly meeting next month.<\/p>\n<p><strong>The listing has been repeatedly pushed over the past few years: <\/strong>After being <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/01\/wave-two-of-egypts-state-privatization-program-kicked-to-early-2020\/\">postponed in<\/a><a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/01\/wave-two-of-egypts-state-privatization-program-kicked-to-early-2020\/\">2019<\/a>, the company\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d12f629a-4a0c-47e0-8286-84e15c079439\">plans to go public<\/a> in April <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bca51511-55be-4032-89ae-78ad3af8fa92\">were derailed<\/a> by the pandemic. The government has since pushed the IPO to 4Q2020, then to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5fe0d80-d23b-4f30-b0cc-8aa46f60fff9\">1Q2021<\/a>, and now to 2Q.<\/p>\n<p><strong>Is now the right time to take an IPO to market?<\/strong> Financial Regulatory Authority boss Mohamed Omran thinks so, <a href=\"https:\/\/dailynewsegypt.com\/2021\/01\/19\/timing-in-egypt-is-right-for-ipos-financial-regulator\/\">saying earlier this week<\/a> that he expects market liquidity to improve in the coming months.<\/p>\n<p><strong>Who else is plotting an upcoming listing (brought to you by the Enterprise IPO <\/strong><strong>Tracker\u2122)?<\/strong> CI Capital\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf2fc0fc-7c69-4a48-8bee-bb893803334d\">Taaleem<\/a>and non-banking financial services firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28e4d461-7cb5-4955-a513-a5abf5e53215\">Ebtikar<\/a> are both considering a 1Q IPO, while consumer healthcare play <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4222023-4523-4073-9629-197b653c72de\">IDH<\/a> has hinted at a dual listing during the first six months of the year.<\/p>\n<p><strong>Advisors: <\/strong>Financial services company NI Capital is acting as the government consultant for the e-Finance\u2019s potential listing, while Pharos Holding and Renaissance Capital are joint global coordinators. Zaki Hashem & Partners were previously reported to have been retained as legal advisors. Inktank is investor relations advisor.<\/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\/bdo\/\">BDO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559443\" 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=\"559443\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/everything-covid-home-and-abroad-on-21-january-2021\/\">\r\n                            Everything covid home and abroad on 21 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\/21\/everything-covid-home-and-abroad-on-21-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\/21\/everything-covid-home-and-abroad-on-21-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\/21\/everything-covid-home-and-abroad-on-21-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=Everything covid home and abroad on 21 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/everything-covid-home-and-abroad-on-21-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\/21\/everything-covid-home-and-abroad-on-21-january-2021\/&title=Everything covid home and abroad on 21 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=Everything+covid+home+and+abroad+on+21+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Feverything-covid-home-and-abroad-on-21-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\/21\/everything-covid-home-and-abroad-on-21-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559443\" class=\"content-area-description single-story post-559443 post type-post status-publish format-standard hentry category-covid-watch tag-china tag-covid-19 tag-enterpriseam tag-gavi tag-pfizer tag-sinopharm 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>Sinopharma jab coming in days?<\/strong> That\u2019s according to Ala Mas'ouleety's Ahmed Moussa, who claimed last night that Egypt will receive a shipment of 100k doses of the Chinese vaccine next week <a href=\"https:\/\/www.youtube.com\/watch?v=ERbwlF-j09k\">(watch, runtime: 6:01)<\/a>.<\/p>\n<p><strong>The caveat:<\/strong> This was completely unsubstantiated and we have no idea where Moussa is getting this information from.<\/p>\n<p><strong>This isn\u2019t the first time we\u2019ve heard they\u2019re coming \u201cin days\u201d:<\/strong> Health Minister Hala Zayed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3733f386-2fe9-44be-b178-bc7601d5d386\">said the same over a week ago<\/a>, adding that Gavi, the Vaccine Alliance will also be sending vaccines our way at the beginning of February. The Sinopharm vax was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2d8e6eb-a834-4940-b3d6-a56c1dab880a\">approved by Egyptian regulators<\/a> at the beginning of January.<\/p>\n<p><strong>Cases fall again:<\/strong> The Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/295352638682022\/\">reported<\/a> 789 new covid-19 infections yesterday, down from 899 the day before. The ministry also reported 51 new deaths, bringing the country\u2019s total death toll to 8,747. Egypt has now disclosed a total of 158,963 confirmed cases of covid-19.<\/p>\n<p><strong>Public schools and universities could shift entirely online <\/strong>when students return from mid-year break on 20 February to contain the second wave of covid-19 under proposals currently under review by the education and higher education ministries, <a href=\"https:\/\/bit.ly\/39TsTrJ\">Al Shorouk<\/a> reports, citing people familiar with the matter.<\/p>\n<p><strong>African countries now have access to a USD 2 bn vaccines pre-order program<\/strong> <a href=\"https:\/\/www.afreximbank.com\/amsp-opens-covid-19-vaccines-pre-orders-for-55-african-union-member-states\/\">launched on Tuesday<\/a> by the African Union\u2019s (AU) new online covid-19 vaccines marketplace Africa Medical Supplies Platform (AMSP). Under the program, AMSP partner Afreximbank will back orders placed with vaccine manufacturers selling to the AU\u2019s 55 member states. The launch of the program comes after the AU\u2019s covid-19 African Vaccine Acquisition Task Team secured 270 mn provisional doses from Pfizer, Johnson & Johnson, and AstraZeneca.<\/p>\n<p><strong>A<\/strong> <strong>shortfall in vaccine supply to lower income countries could threaten the <\/strong><strong>efficacy of existing jabs <\/strong>as the virus continues to circulate, and potentially mutate, among large swaths of the global population without access, <a href=\"https:\/\/www.ft.com\/content\/331ca95c-63fa-40de-8866-e3adccea3647\">the FT<\/a> reports. World Health Organization boss Tedros Adhanom Ghebreyesus had criticized the inequitable distribution <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ac65735-fb03-4c28-9756-bfbadb8ff7ff\">earlier this week<\/a>, saying that the great leveler known as Covax, which was set up to regulate the distribution, is being undermined.<\/p>\n<p><strong>A new study presents more proof that the BioNTech \/ Pfizer vaccine will be effective<\/strong><strong> against mutant strains of the coronavirus: <\/strong>The study \u2014 the results of which were released yesterday \u2014 tested all 10 mutations on the virus\u2019 spike protein, as opposed to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3733f386-2fe9-44be-b178-bc7601d5d386\">previous study<\/a>, which only looked at a single mutation. The result \u201cmakes it very unlikely that the UK variant will escape\u201d protection from the vaccine, wrote BioNTech\u2019s research team, adding that they are willing to adapt the vaccine if needed in the future. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-20\/pfizer-biontech-shot-likely-to-defeat-mutant-new-study-shows?srnd=premium-middle-east\">Bloomberg<\/a> and <a href=\"https:\/\/www.ft.com\/content\/943c8ca9-0c92-4366-8ab4-b569a1e123b8\">the Financial Times<\/a> have the story.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gavi\/\">GAVI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinopharm\/\">Sinopharm<\/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=\"559444\" 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=\"559444\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/\">\r\n                            Egypt\u2019s banks to remain stable in 2021 -Moody\u2019s                        <\/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\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/\" 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\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/')\">\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\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s banks to remain stable in 2021 -Moody\u2019s&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/\">\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\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/&title=Egypt\u2019s banks to remain stable in 2021 -Moody\u2019s\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+banks+to+remain+stable+in+2021+-Moody%E2%80%99s+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fegypts-banks-to-remain-stable-in-2021-moodys%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\/21\/egypts-banks-to-remain-stable-in-2021-moodys\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559444\" class=\"content-area-description single-story post-559444 post type-post status-publish format-standard hentry category-banking tag-banking tag-enterpriseam tag-moodys wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The Egyptian banking system will remain stable in 2021<\/strong> even as bottom lines \u201ccome under pressure\u201d from rising loan losses and lower interest income, Moody\u2019s Investors Service <a href=\"https:\/\/m.moodys.com\/research\/Moodys-Egyptian-banks-stable-outlook-balances-profitability-and-loan-book--PBC_1261175\">said in a report<\/a> yesterday. Bank bottom lines will compare favorably to peers, in part due to the central bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c622061-88b0-45ec-af64-bce3ce83347e\">decision to freeze cash dividends<\/a> which will be \u201cenough to absorb growth in risk-weighted assets and keep capital ratios stable.\u201d<\/p>\n<p><strong>Prepare for a rise in bad loans:<\/strong> Disruption in tourism and construction, a slowdown in industrial production and weaker consumer demand will cause a rise in non-performing loans, which typically average 3.9%.<\/p>\n<p><strong>Many banks have already taken precautions in anticipation of problematic loans<\/strong>, ramping up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83ca7356-fbfb-46c9-8ef4-8aaa4a47e754\">loan loss provisions<\/a> out of caution.<\/p>\n<p><strong>Lower rates = compressed NIMs:<\/strong> The central bank\u2019s decision to reduce interest rates by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5662d281-1e6f-4604-b559-ae1ac16ce3be\">400 bps in 2020<\/a> will narrow net interest margins, bringing banks\u2019 incomes under pressure, the ratings agency said.<\/p>\n<p><strong>Liquidity + lending won\u2019t be a problem:<\/strong> Some 20% of bank assets are held in cash and interbank balances and a further 39% in government bonds, though state-owned banks will still face tighter FX liquidity. Banks also have \u201cample\u201d customer deposits with which to fund lending.<\/p>\n<p><strong>OTHER BANKING & FINANCE NEWS-<\/strong> <strong>Some 22 companies are seeking licenses to provide non-bank financial services<\/strong>, Financial Regulatory Authority head Mohamed Omran said, reports <a href=\"http:\/\/bit.ly\/3iAXyOn\">Al Mal<\/a>. The regulator expects to issue the licenses for eligible companies in 1Q2021.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moodys\/\">Moody\u2019s<\/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=\"559445\" 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=\"559445\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/\">\r\n                            Premium International closes EGP 170 mn securitized bond issuance                        <\/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\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/\" 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\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/')\">\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\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/\">\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=Premium International closes EGP 170 mn securitized bond issuance&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/\">\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\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/&title=Premium International closes EGP 170 mn securitized bond issuance\">\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=Premium+International+closes+EGP+170+mn+securitized+bond+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fpremium-international-closes-egp-170-mn-securitized-bond-issuance%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\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559445\" class=\"content-area-description single-story post-559445 post type-post status-publish format-standard hentry category-debt-watch tag-banking tag-debt-watch tag-development-finance tag-efg-hermes tag-enterpriseam tag-infrastructure tag-securitization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Consumer finance firm Premium International closed the fourth single-tranche <\/strong><strong>EGP 170 mn tranche of its EGP 2 bn short-term securitized bond program yesterday<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/1\/EFGH-NR-Premium-Securitization-ENG.docx.pdf\">a statement (pdf)<\/a> from our friends at EFG Hermes, which was sole financial advisor, sole transaction manager and book-runner, underwriter, and arranger for the sale. The 10-month tranche was rated Prime 1 by Meris. Dreny & Partners served as legal counsel.<\/p>\n<p><strong>ALSO IN THE MARKET FOR DEBT- <\/strong><\/p>\n<ul>\n<li><strong>Alexandria Petroleum could land a USD 250 mn <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7315d2fa-faa4-4abc-89fb-ca15363aaed7\">loan<\/a><\/strong><strong> in<\/strong><strong> 1Q2021<\/strong>, EBRD Deputy Regional Director Khaled Hamza told <a href=\"https:\/\/bit.ly\/2XUCDw3\">Al Mal<\/a>.<\/li>\n<li><strong>EBRD <\/strong>could also provide the government with a loan by the summer to finance the <strong>Abu Qir metro<\/strong> project which will convert the existing railway into an underground metro, Hamza added. He had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6892cd42-3fe0-4e7e-9c22-7e2ebf8b825e\">previously told the press<\/a> that the government had requested an additional EUR 250 mn for the project.<\/li>\n<li><strong>The United Bank of Egypt <\/strong>signed a EGP 500 mn financing agreement with <strong><a href=\"https:\/\/cityedgedevelopments.com\/\">City Edge Developments<\/a><\/strong>, according to <a href=\"https:\/\/bit.ly\/3oVQYEx\">Al Mal<\/a>.<\/li>\n<li><strong><a href=\"http:\/\/forward-cr.com\/\">Forward Contractors<\/a><\/strong> are negotiating with an unspecified<strong> state-owned bank <\/strong>for as much as EGP 1 bn to finance real estate projects in the new administrative capital, <a href=\"https:\/\/bit.ly\/39Izm8M\">Al Mal<\/a> reports, citing unnamed sources.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/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\/development-finance\/\">development finance<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559446\" 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=\"559446\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/\">\r\n                            Mansour Group invests EUR 100 mn in football academy                        <\/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\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/\" 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\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/')\">\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\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/\">\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=Mansour Group invests EUR 100 mn in football academy&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/\">\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\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/&title=Mansour Group invests EUR 100 mn in football academy\">\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=Mansour+Group+invests+EUR+100+mn+in+football+academy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fmansour-group-invests-eur-100-mn-in-football-academy%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\/21\/mansour-group-invests-eur-100-mn-in-football-academy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559446\" class=\"content-area-description single-story post-559446 post type-post status-publish format-standard hentry category-investment-watch tag-enterpriseam tag-investment-watch tag-mansour-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mansour Group will invest EUR 100 mn in football academy Right to Dream<\/strong> that will see the company establish a EUR 30 mn facility in Cairo, the company said in <a href=\"https:\/\/ent.news\/2021\/1\/RTD-launch-announcement-Egypt-ENGLISH-FINAL.pdf\">a statement (pdf)<\/a> yesterday. The investment, made through the group\u2019s UK-based investment arm Man Capital, will see the academy grow its activities in Egypt, Ghana, Denmark and the UK.<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mansour-group\/\">Mansour Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559447\" 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=\"559447\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/were-on-speaking-terms-with-qatar-now\/\">\r\n                            We\u2019re on speaking terms with Qatar now                        <\/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\/21\/were-on-speaking-terms-with-qatar-now\/\" 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\/21\/were-on-speaking-terms-with-qatar-now\/')\">\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\/21\/were-on-speaking-terms-with-qatar-now\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=We\u2019re on speaking terms with Qatar now&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/were-on-speaking-terms-with-qatar-now\/\">\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\/21\/were-on-speaking-terms-with-qatar-now\/&title=We\u2019re on speaking terms with Qatar now\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=We%E2%80%99re+on+speaking+terms+with+Qatar+now+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fwere-on-speaking-terms-with-qatar-now%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\/21\/were-on-speaking-terms-with-qatar-now\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"559448\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/were-on-speaking-terms-with-qatar-now\/268-jpg-67\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559447\" class=\"content-area-description single-story post-559447 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-al-ula-declaration tag-diplomacy tag-enterpriseam tag-libya tag-politics tag-qatar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egypt and Qatar have formally agreed to re-establish diplomatic ties<\/strong>, the Egyptian Foreign Ministry said yesterday in <a href=\"https:\/\/bit.ly\/3p3ccR1\">a short statement<\/a>. Egypt, along with Saudi Arabia, the UAE and Bahrain, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/036bdfbe-0680-448e-a011-b607497ac279\">agreed at a summit earlier this month<\/a> to restore diplomatic, trade and travel ties, 3.5 years after they embargoed Doha for its alleged support of terrorism. Egypt began dialling back tensions soon after by reopening its airspace to Qatari flights <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3dda300-7982-4d85-ba1a-df2f1421f659\">last week<\/a>.<\/p>\n<p><strong>This makes Egypt the first country to fully restore relations with Qatar<\/strong> since the Al Ula declaration earlier this month.<\/p>\n<p><strong>The dealbreaker:<\/strong> The Qatari government promised not to interfere in Egypt\u2019s internal affairs and said that state-owned broadcaster Al Jazeera would tone down negative coverage of Egypt, <a href=\"https:\/\/www.reuters.com\/article\/gulf-qatar-egypt-int\/egypt-says-agreed-with-qatar-on-resuming-diplomatic-relations-idUSKBN29P1AT\">Reuters<\/a> reports, citing two Egyptian intelligence sources.<\/p>\n<p><strong>This could pave the way for deeper economic ties:<\/strong> Cairo and Doha also plan to develop economic relations and hold talks soon to discuss regional affairs such as Libya and the Ikhwan, the sources said.<\/p>\n<p><strong>The story topped <\/strong><strong>cover<\/strong><strong>age of Egypt in the foreign press this morning:<\/strong> Everyone from <a href=\"https:\/\/www.saudigazette.com.sa\/article\/602726\/World\/Mena\/Egypt-Qatar-agree-to-resume-diplomatic-relations\">the Saudi Gazette<\/a> to <a href=\"http:\/\/www.xinhuanet.com\/english\/2021-01\/20\/c_139684223.htm\">Xinhua<\/a> and <a href=\"https:\/\/gulfnews.com\/world\/gulf\/qatar\/egypt-qatar-agree-to-resume-diplomatic-links-1.76615446\">Gulf News<\/a> took note. Over in the other camp \u2014 Turkey\u2019s Anadolu Agency and Qatar\u2019s Al Jazeera also had coverage.<\/p>\n<p><strong>IN OTHER DIPLO NEWS- Libyan political rivals have agreed to hold a referendum<\/strong><strong> on <\/strong><strong>a draft constitution during talks in Hurghada<\/strong> which wrapped up yesterday, Egypt\u2019s Foreign Ministry said in <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5067816236623615\">a statement<\/a>. The plebiscite would be held ahead of proposed parliamentary and presidential elections scheduled to take place at the end of the year. Egypt will host a further round of talks running 9-11 February to determine the date of the vote.<\/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\/al-ula-declaration\/\">Al Ula declaration<\/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\/qatar\/\">Qatar<\/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=\"559449\" 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=\"559449\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/the-fgm-clampdown\/\">\r\n                            The FGM clampdown                        <\/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\/21\/the-fgm-clampdown\/\" 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\/21\/the-fgm-clampdown\/')\">\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\/21\/the-fgm-clampdown\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The FGM clampdown&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/the-fgm-clampdown\/\">\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\/21\/the-fgm-clampdown\/&title=The FGM clampdown\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+FGM+clampdown+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fthe-fgm-clampdown%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\/21\/the-fgm-clampdown\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559449\" class=\"content-area-description single-story post-559449 post type-post status-publish format-standard hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-fgm tag-legislation tag-penal-code tag-personal-status-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Harsher <\/strong><strong>penalties for FGM that could see doctors jailed for up to 20 years <\/strong>were greenlit by the Madbouly Cabinet in <a href=\"https:\/\/bit.ly\/38YMnfk\">its weekly meeting<\/a> yesterday. Under draft changes to the penal code, people found guilty of practicing FGM would be handed between 7-20 years behind bars with punitive labor, depending on whether the procedure results in acute injuries or death. Facilities where FGM is performed will be shut down and participating staff barred from practicing for up to five years. Those who request an FGM procedure or actively promote it could also face prison sentence. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-20\/egypt-to-toughen-penalties-for-female-genital-mutilation?sref=mmeFTDW1\">Bloomberg<\/a> took note of the story.<\/p>\n<p><strong>Changes to the <\/strong><strong>Personal Status Act were also approved by ministers:<\/strong> Cabinet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ef08409-5977-4816-915a-9daf6cf04c63\">said last week<\/a> that the long-awaited bill, which has been with the House of Representatives <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/18\/house-signs-off-on-protest-law-amendments-proposed-amendments-to-personal-status-law\/\">since at least 2017<\/a>, was still undergoing changes, but yesterday approved it unchanged. The law will make a number of changes to marriage and divorce, inheritance, death, and child custody.<\/p>\n<p><strong>Also signed off on:<\/strong> A EUR 200k grant from the Spanish Agency for International Development Cooperation to improve services at government-run institutes.<\/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-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fgm\/\">FGM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/penal-code\/\">penal code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/personal-status-act\/\">Personal Status Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559450\" 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=\"559450\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/559450\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559450\" class=\"content-area-description single-story post-559450 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/Sodic-Karmell2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\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=\"559451\" 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=\"559451\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/\">\r\n                            BCW, Hill + Knowlton tapped for Ford PR                        <\/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\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/\" 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\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/')\">\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\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/\">\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=BCW, Hill + Knowlton tapped for Ford PR&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/\">\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\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/&title=BCW, Hill + Knowlton tapped for Ford PR\">\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=BCW%2C+Hill+%2B+Knowlton+tapped+for+Ford+PR+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fbcw-hill-knowlton-tapped-for-ford-pr%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\/21\/bcw-hill-knowlton-tapped-for-ford-pr\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559451\" class=\"content-area-description single-story post-559451 post type-post status-publish format-standard hentry category-moves tag-ahmed-el-wakil tag-bcw tag-enterpriseam tag-ford-motors tag-hill-knowlton tag-juhayna tag-moves tag-safwan-thabet wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Juhayna\u2019s board of directors<\/strong> unanimously approved<strong> Ahmed El Wakil<\/strong> as an <strong>independent non-executive board member<\/strong>, replacing former chairman and managing director Safwan Wakil is currently president of the Alexandria Chamber of Commerce and a board of trustee member at the General Authority for Freezones and Investment and the Internal Trade Development Authority.<\/p>\n<p><strong>BCW<\/strong> and <strong>Hill + Knowlton Strategies <\/strong>have been tapped as <strong>Ford Motors\u2019 PR <\/strong><strong>representatives<\/strong> in the Middle East, North Africa, Sub-Saharan Africa, and Asia Pacific, according to an <a href=\"https:\/\/ent.news\/2021\/1\/BCW-HK-Ford-Motors.pdf\">emailed statement (pdf)<\/a>.<\/p>\n<p><strong>*** Did you just get a promotion? Have a new board member? Land a new account? <\/strong>Let us know on editorial@enterprise.press.<\/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\/ahmed-el-wakil\/\">Ahmed El-Wakil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bcw\/\">BCW<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ford-motors\/\">Ford Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hill-knowlton\/\">Hill + Knowlton<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safwan-thabet\/\">Safwan Thabet<\/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=\"559452\" 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 stk-block-column stk-column stk-block stk-oeyzwvq\" data-v=\"4\" data-block-id=\"oeyzwvq\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-oeyzwvq-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-oeyzwvq-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\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n             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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-fi7j90k\" data-v=\"4\" data-block-id=\"fi7j90k\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-fi7j90k-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-fi7j90k-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-p7dw5s8\" data-v=\"4\" data-block-id=\"p7dw5s8\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-p7dw5s8-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-p7dw5s8-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559453\" 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=\"559453\">\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\/21\/last-nights-talk-shows-on-21-january-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 21 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\/21\/last-nights-talk-shows-on-21-january-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n     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2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/last-nights-talk-shows-on-21-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\/21\/last-nights-talk-shows-on-21-january-2021\/&title=Last Night\u2019s Talk Shows on 21 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+21+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Flast-nights-talk-shows-on-21-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\/21\/last-nights-talk-shows-on-21-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559453\" class=\"content-area-description single-story post-559453 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-education tag-enterpriseam tag-house-of-representatives tag-joe-biden tag-last-nights-talk-shows tag-politics tag-tarek-shawki tag-world-handball-championships wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There was little of interest on the business \/ econ front last night: <\/strong>Ala Mas\u2019ouleety\u2019s Ahmed Moussa covered Education Minister Tarek Shawki\u2019s address to the House of Representatives (covered in the Education section, above). The talk show host showed Shawki noticeably more respect than he gave to the information, supply and local development ministers earlier this week <a href=\"https:\/\/www.youtube.com\/watch?v=_yOPbeiCMxY\">(watch, runtime: 4:58)<\/a>.<\/p>\n<p><strong>Elsewhere:<\/strong><\/p>\n<ul>\n<li><strong>Everyone was talking about Joe Biden\u2019s inauguration: <\/strong>Yahduth Fi Misr (<a href=\"https:\/\/www.youtube.com\/watch?v=rN6jCTxeuD8\">watch, runtime: 13:25<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=5l07FZ-rWG8\">watch, runtime: 29:27<\/a>) and Kahera Wenas (<a href=\"https:\/\/www.youtube.com\/watch?v=wiiB1jKITdI\">watch, runtime: 35:34<\/a>).<\/li>\n<li><strong>Egypt\u2019s 28-23 win over Russia in the handball championships<\/strong> got attention from Masaa DMC <a href=\"https:\/\/www.youtube.com\/watch?v=Ab7GfAkRSUE\">(watch, runtime: 3:42)<\/a> and Ala Mas'ouleety <a href=\"https:\/\/www.youtube.com\/watch?v=siDk_IW2c2M\">(watch: runtime: 2:42)<\/a>.<\/li>\n<li><strong>El Sisi speech:<\/strong> Masaa DMC\u2019s Ramy Radwan <a href=\"https:\/\/www.youtube.com\/watch?v=VxVP-SbCqtY\">(watch, runtime: 3:51)<\/a> and Al Hayah Al Youm\u2019s Mohamed Sherdy <a href=\"https:\/\/www.youtube.com\/watch?v=p6_cW_0THz0\">(watch, runtime: 7:14)<\/a> covered President Abdel Fattah El-Sisi\u2019s speech on the 60th anniversary of the Organisation for Economic Co-operation and Development, during which he praised Egypt's economic performance in light of the covid-19 outbreak.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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\/joe-biden\/\">Joe Biden<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawki\/\">Tarek Shawki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-handball-championships\/\">World Handball Championships<\/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=\"559454\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559455\" 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=\"559455\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/egypt-in-the-news-on-19-january-2021-2\/\">\r\n                            Egypt in the News on 19 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\/21\/egypt-in-the-news-on-19-january-2021-2\/\" 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\/21\/egypt-in-the-news-on-19-january-2021-2\/')\">\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\/21\/egypt-in-the-news-on-19-january-2021-2\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+19+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Fegypt-in-the-news-on-19-january-2021-2%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\/21\/egypt-in-the-news-on-19-january-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559455\" class=\"content-area-description single-story post-559455 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The arrest of a woman baker for selling cupcakes adorned with male genitalia<\/strong> is still making the rounds in <a href=\"https:\/\/www.theguardian.com\/world\/2021\/jan\/19\/egyptian-chef-arrested-after-making-cupcakes-with-penis-decorations\">the Guardian<\/a>, <a href=\"https:\/\/www.bbc.co.uk\/news\/world-middle-east-55717683\">the BBC<\/a> and <a href=\"https:\/\/gulfnews.com\/world\/mena\/egypt-sexual-cupcakes-cause-stir-1.76592943\">Gulf News<\/a>. The pastry maker was released on bail <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76741d13-3ae2-4f58-892d-45237e117716\">earlier this week<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"559456\" 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=\"559456\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/also-on-our-radar-on-21-january-2021\/\">\r\n                            Also on our radar on 21 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\/21\/also-on-our-radar-on-21-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\/21\/also-on-our-radar-on-21-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\/21\/also-on-our-radar-on-21-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 21 January 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/also-on-our-radar-on-21-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\/21\/also-on-our-radar-on-21-january-2021\/&title=Also on our radar on 21 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+21+January+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F01%2F21%2Falso-on-our-radar-on-21-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\/21\/also-on-our-radar-on-21-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559456\" class=\"content-area-description single-story post-559456 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-arab-contractors tag-bombardier tag-enterpriseam tag-environment-ministry tag-infrastructure tag-oil-ministry tag-orascom-construction tag-red-sea tag-tarek-el-molla tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Canada\u2019s Bombardier will supply our monorail cars with a little help from the UK<\/strong> <strong>government<\/strong> after the country\u2019s export fund agreed to hand the company a GBP 1.7 bn (USD 2.3 bn) subsidy to manufacture them in the UK \u2014 the largest amount of funding it has ever given to an overseas infrastructure project, the Department for International Trade <a href=\"https:\/\/www.gov.uk\/government\/news\/uk-export-finance-unlocks-trade-to-egypt-and-supports-uk-jobs-with-17bn-guarantee\">said<\/a> yesterday. In 2019 Egypt <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/egypt-signs-usd-4-5-bn-agreement-for-monorails-to-giza-and-new-capital\/\">awarded<\/a> Bombardier \u2014 along with Orascom Construction and Arab Contractors \u2014 a 30-year contract to design, build, supply and operate the monorail lines, which will connect Sixth of October City to Giza and the new administrative capital to Nasr City. The company will start manufacturing the rolling stock under the USD 4.5 bn contract <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c563827-6711-43ac-b4a5-8ba4dc0fe4e0\">this quarter<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Gold production from Centamin\u2019s Sukari mine fell <\/strong><strong>46%<\/strong><strong> in 4Q2020<\/strong> from the previous quarter due to activity at part of the mine being put on hold over safety concerns, the company confirmed in its <a href=\"https:\/\/www.centamin.com\/media\/2358\/cey-rns_-4q20-quarterly_final_180121.pdf\">earnings release (pdf)<\/a>.<\/li>\n<li><strong>An economic court has acquitted Prime Holding CEO Mohmed Maher of <\/strong><strong>misdemeanor charges<\/strong>, according to <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/256582_1.pdf\">an EGX disclosure (pdf)<\/a>.<\/li>\n<li><strong>A new app could soon see all Housing Ministry and NUCA licensing procedures<\/strong><strong> go digital<\/strong> as part of the government\u2019s wider efforts to digitize, said Housing Minister Assem El Gazzar in <a href=\"https:\/\/bit.ly\/2XSGaei\">a statement<\/a>.<\/li>\n<li>Downtown Cairo\u2019s <strong>Arcadia Mall<\/strong> <a href=\"https:\/\/bit.ly\/3ivlDWE\">will house<\/a> Egypt\u2019s first wholesale and imported mobile accessories and electronics hub, with 60 shops set to be opened before 29 January as a first phase and 60 other shops to follow in the next three months.<\/li>\n<li><strong>A new Red Sea oil and gas exploration and production tender could be launched <\/strong>in the near future as seismic surveys in the area are due to begin soon, Oil Minister Tarek El Molla <a href=\"https:\/\/bit.ly\/3qBOrQb\">said yesterday<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bombardier\/\">Bombardier<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment-ministry\/\">Environment Ministry<\/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\/oil-ministry\/\">Oil Ministry<\/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\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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    <\/div>\n<\/div>\n<\/section>\n<section id=\"559457\" 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=\"559457\">\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\/21\/what-the-markets-are-doing-on-21-january-2021\/\">\r\n                            What the markets are doing on 21 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\/21\/what-the-markets-are-doing-on-21-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\/21\/what-the-markets-are-doing-on-21-january-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li 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<div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/what-the-markets-are-doing-on-21-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559457\" class=\"content-area-description single-story post-559457 post type-post status-publish format-standard hentry category-planet-finance tag-bahrain tag-bonds tag-earnings tag-enterpriseam tag-financial-markets tag-morgan-stanley 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 continues in the US of A:<\/strong><\/p><ul>\n<li><strong>Morgan Stanley <\/strong><strong>has <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-20\/morgan-stanley-traders-drive-earnings-surge-for-bank-s-best-year?sref=mmeFTDW1\">its best year ever<\/a><\/strong><strong> in 2020<\/strong><strong> after profits grew by<\/strong><strong> 42% more than forecasts had suggested <\/strong><strong>4Q2020<\/strong>, off the back of high trading volumes in the last quarter, according to an <a href=\"https:\/\/www.morganstanley.com\/about-us-ir\/shareholder\/4q2020.pdf\">earnings release (pdf)<\/a>.<\/li>\n<li><strong>Our newfound germophobia was good news for P&amp;G<\/strong>, which raised its sales forecast for the second time in a year and reported an 8% rise in sales in 4Q off the back of covid-driven demand for cleaning products, <a href=\"https:\/\/www.reuters.com\/article\/us-procter-gamble-results\/pandemic-driven-cleaning-routines-boost-pg-sales-forecast-again-idUSKBN29P1ES\">Reuters<\/a> reports.<\/li>\n<\/ul><p><strong>The Bahraini government closed a USD 2 bn three-tranche bond sale<\/strong> as the pandemic and low oil prices continue to weigh on its fiscal deficit and pushed its debt dues to USD 40 bn, reports <a href=\"https:\/\/www.reuters.com\/article\/us-bahrain-bonds\/bahrain-gets-2-billion-in-bond-sale-after-deficit-spike-idUSKBN29P125?il=0\">Reuters<\/a>.<\/p><p><strong>A global shipping container shortage has sent prices skyrocketing<\/strong> to more than three times their price just two months ago, <a href=\"https:\/\/www.ft.com\/content\/ad5e1a80-cecf-4b18-9035-ee50be9adfc6\">the FT<\/a> reports. The sudden increase has been attributed to a supply chain \u201cbottleneck\u201d as a sharp rebound in western demand for Asian goods has left companies battling for access to containers and shipping lines, said SeaIntelligence consultant Lars Jensen.<\/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>11,599<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +6.9%)<\/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 15.67<\/p>\n<\/td>\n<td>\n<p>Sell 15.77<\/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 at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.68<\/p>\n<\/td>\n<td>\n<p>Sell 15.78<\/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>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>8,878<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +2.2%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,676<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +12.5%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,792<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +12.1%)<\/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>S&amp;P<\/strong> <strong>500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,851<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,740<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +4.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 55.67<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.54<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,872<\/p>\n<\/td>\n<td>\n<p>+1.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 34,943<\/p>\n<\/td>\n<td>\n<p>-4.4%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 1% yesterday<\/strong> on turnover of EGP 1.7 bn (20.8% above the 90-day average). Local investors were net buyers. The index is up 6.9% YTD.<\/p><p><strong>In the green: <\/strong>Pioneers Holding (+8.5%), Egyptian Iron &amp; Steel (+7.5%) and Beltone Financial Holding (+6.9%).<\/p><p><strong>In the red: <\/strong>Ezz Steel (-0.8%), Egypt Kuwait Holding (-0.7%) and CIRA (-0.6%).<\/p><p><strong>It\u2019s a sea of green this morning: <\/strong>Asian shares are up and futures suggest a nice bounce for investors in day two of the Biden administration, with shares in Europe and North America on track to open in the green later today.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/morgan-stanley\/\">Morgan Stanley<\/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=\"559458\" 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=\"559458\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/my-wfh-routine-mohamed-zein-iro-at-saudi-aramco\/\">\r\n                            My WFH Routine: Mohamed Zein, IRO at Saudi Aramco                        <\/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\/21\/my-wfh-routine-mohamed-zein-iro-at-saudi-aramco\/\" 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 to us this week is Mohamed Zein (<a href=\"https:\/\/sa.linkedin.com\/in\/mohamedzein\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Mohamed Zein and I am an investor relations officer at Saudi Aramco.<\/strong> I\u2019m responsible for competitive benchmarking, financial analysis, external messaging, and analyst and shareholder engagement within the company's investor relations function. I spent most of my professional career working as a sell-side equity research analyst covering the consumer and healthcare sectors in MENA before transitioning into investor relations right before Saudi Aramco's IPO in 2019.<\/p>\n<p><strong>Bixby wakes me up at 5:30 AM.<\/strong> I quickly go through my notifications and then have my morning dose of stretching. I then log my weight, get ready for work, and read Enterprise while having breakfast and coffee. I haven\u2019t stopped following the Egyptian market since I left for Saudi Arabia, and Enterprise has been my daily source of insight.<\/p>\n<p><strong>I start work at 7:00 AM, so my day starts rather early.<\/strong> I typically spend a great chunk of my time studying the company, the industry, and competitors via daily interaction with the company\u2019s business units, industry experts, and by reading analyst research. The better you understand the business, the more refined your equity story will be. Engagement with analysts and investors is an integral part of my role, and if there\u2019s one thing I learned as an ex-analyst, it\u2019s that you should be prepared, pre-emptive, and ready for all kinds of questions.<\/p>\n<p><strong>Why did I switch from research to IR? Investor relations in the MENA region is still emerging and there is plenty of room for improvement, in my opinion.<\/strong> There is a lot of overlap between the responsibilities and skills of a research analyst and those of an investor relations officer, and analysts are often among the best candidates for investor relations, for their analytical and persuasion skills and capital markets experience. And the chance presented itself.<\/p>\n<p><strong>I am currently working from the office, but like many others, I worked from home for a good chunk of 2020.<\/strong> Productivity and team collaboration were not really impacted during the WFH phase. On the contrary \u2014 they improved in many aspects. On a more personal level, I learned basic cooking for the first time in my life and I was able to shed weight, looking at the glass half full. I also used the time to advance my professional skills.<\/p>\n<p><strong>I\u2019m a planner. I don't like to leave things to chance<\/strong> and so I like to maintain mental and electronic checklists. Once I start to feel overwhelmed, I plan for my next vacation, travel permitting, to declutter my mind.<\/p>\n<p><strong>I absolutely miss time on the road.<\/strong> There is no permanent substitute for face-to-face meetings with investors.<\/p>\n<p><strong>As far as getting the work done, webinars \/ Zoom \/ individual calls did a good job.<\/strong> The downside was obviously the absence of real life human to human interaction.<\/p>\n<p><strong>I don\u2019t think robots are advanced enough just yet to do my job for me.<\/strong> Algorithms and machine learning are already being used in markets today, but they have not really replaced traditional professions. Investor relations is a job of interpersonal skills and there is as much art as there is science to the job. That said, the pace with which technology advanced over the past 30 years has been mind-boggling. I\u2019m keeping an open mind about it.<\/p>\n<p><strong>There are a number of misconceptions about the investor relations profession.<\/strong> Investor relations is not merely a regulatory or compliance role that companies are required to fill. It is not public relations either. Investor relations is essentially a strategic role that ideally sits near the top of an organization. It\u2019s a tool that provides the market with information about the company that helps investors make informed decisions about the company\u2019s shares. It also provides management with invaluable strategic insight.<\/p>\n<p><strong>The best part of the job<\/strong> is engaging with the market when a company \/ industry is going through challenges. <strong>The worst part<\/strong> is when it\u2019s business as usual.<\/p>\n<p><strong>Investor relations in the MENA region is changing for the better.<\/strong> Institutionalization and corporate governance have been gaining traction in recent years and corporates have started to see investor relations for what it\u2019s worth.<\/p>\n<p><strong>What keeps me up at night?<\/strong> The thought that I could\u2019ve done better at my job that day. That said, it\u2019s the same thought that motivates me the next day.<\/p>\n<p><strong>I\u2019m passionate about knowledge.<\/strong> I have a healthy amount of curiosity.<\/p>\n<p><strong>I typically spend my weekend eating, reading and jogging<\/strong> by the beachfront of the Arabian Gulf. I also like to binge-watch shows on Netflix and Amazon Prime.<\/p>\n<p><strong>I am big on the fantasy genre.<\/strong> The last book I read was <a href=\"https:\/\/www.goodreads.com\/book\/show\/1215032.The_Wise_Man_s_Fear\">The Wise Man's Fear<\/a>. I\u2019m currently reading <a href=\"https:\/\/www.amazon.com\/Narrative-Management-Corporate-Japan-Yorozu\/dp\/0367597616\">Narrative Management in Corporate Japan \u2013 Investor Relations as Pseudo-Reform<\/a>. I recently watched (and loved) <a href=\"https:\/\/www.imdb.com\/title\/tt10048342\/\">The Queen\u2019s Gambit<\/a>, and I listen to classics non-stop.<\/p>\n<p><strong>The best piece of advice I\u2019ve ever been given:<\/strong> Stop saying \u2018yes\u2019 when you really want to say \u2018no.\u2019<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investor-relations\/\">Investor relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"559460\" 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\/21\/calendar-on-21-january-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-559460\" class=\"content-area-description single-story post-559460 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>19-22 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): AUC\u2019s School of Business webinar on \u201cRethinking Macroeconomics in the Digital Age.\u201d Registration available <a href=\"https:\/\/bit.ly\/3bX9AAu\">here<\/a>.<\/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\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":559434,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-559433","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b14f3705-c556-44be-91a4-2d1cb028e155","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/260.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bank Audi to leave Egypt, handing the keys to FAB - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-audi-to-leave-egypt-handing-the-keys-to-fab\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Audi to leave Egypt, handing the keys to FAB\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-audi-to-leave-egypt-handing-the-keys-to-fab\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T02:29:28+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/260.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-audi-to-leave-egypt-handing-the-keys-to-fab\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-audi-to-leave-egypt-handing-the-keys-to-fab\/\",\"name\":\"Bank Audi to leave Egypt, handing the keys to FAB - 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