{"id":561391,"date":"2021-04-06T04:00:43","date_gmt":"2021-04-06T04:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=561391"},"modified":"2025-12-16T03:17:27","modified_gmt":"2025-12-16T03:17:27","slug":"enterprise-finmin-plans-spending-boost-next-fy-on-higher-tax-revenues","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-finmin-plans-spending-boost-next-fy-on-higher-tax-revenues\/","title":{"rendered":"Enterprise FinMin plans spending boost next FY on higher tax revenues"},"content":{"rendered":"<section id=\"561393\" 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=\"561393\">\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\/04\/06\/what-were-tracking-on-6-april-2021\/\">\r\n                            What we\u2019re tracking on 6 April 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\/04\/06\/what-were-tracking-on-6-april-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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Representatives from the EGX and clearinghouse MCDR are expected to discuss <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/efsa_news\/efsa_962.htm\">proposals<\/a> including a limit on the volume of margin trades allowed for each security, investor, and for the market as a whole after brokerages and custodians <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bd1c893-0e70-438f-be02-5be3a846066a\">recently called<\/a> for controls to mitigate the risk of the growing appetite for trading on margin.<\/p><p><strong>Mixed messages?<\/strong> A handful of brokerage houses call on the regulator last week to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bd1c893-0e70-438f-be02-5be3a846066a\">impose<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bd1c893-0e70-438f-be02-5be3a846066a\">limits on margin trading<\/a>. The news came just a week after the central bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f05c21e8-cfa0-4ffa-a016-e59cca9ba55a\">earmarked EGP 1 bn<\/a> for an FRA-regulated fund that would, among other things, give finance to brokerages so they could <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/971312e1-f894-440b-abff-245b2484f2eb\">expand their capacity to support margin trading<\/a>.<\/p><p><strong>SOUND SMART- What\u2019s margin trading, you ask? <\/strong>Effectively, it\u2019s when a broker loans you money to allow you to buy more stocks, generally with a stop-loss order that allows them to sell the shares (whether you want to or not) if your losses hit a predetermined threshold. A \u201cmargin call\u201d is when your broker tells you she isn\u2019t comfortable with the amount of cash in your account and tells you that you need to deposit more money (or stocks you fully own) into the account or sell down your position to even things out.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Two or three state-owned companies <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c843e67-c38f-4481-b7a2-84e4373812b8\">will sell shares<\/a><\/strong><strong> on the EGX in 3Q2021<\/strong>, Public Enterprises Minister Hisham Tawfik said.<\/li>\n<li><strong>Business activity in Egypt\u2019s non-oil private sector contracted for the fourth month running in March<\/strong>, according to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26b627c1-c763-4e9d-9224-340a17bafd38\">PMI figures<\/a> released yesterday.<\/li>\n<li><strong>Sawari Ventures has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fe9ecce-c61c-4c56-87ab-05ea2cb9c969\">reached the final close<\/a><\/strong><strong> on its EGP 1.1 bn Egypt-focused tech platform<\/strong> after raising USD 28 mn from local and regional institutional players.<\/li>\n<\/ul><p><strong>THE BIG STORY INTERNATIONALLY- US Treasury Secretary Janet Yellen has<\/strong><strong> called on <\/strong><strong>G20 countries to work with the US to set a minimum global corporate tax rate.<\/strong> Speaking ahead of the IMF \/ World Bank Spring Meetings this week, Yellen said a new worldwide minimum rate would put a stop to the \u201c30-year race to the bottom on corporate tax\u201d and would introduce a \u201cmore level playing field in the taxation of multinational corporations.\u201d<\/p><p><strong>Corporate tax hikes underpin the Biden administration\u2019s ambitious <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75dcee96-344f-4364-a521-1341a92ffbe7\">USD 2 tn<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75dcee96-344f-4364-a521-1341a92ffbe7\">infrastructure investment plan<\/a><\/strong> unveiled last week \u2014 spending that would be underwritten by a seven basis-point corporate income tax hike to 28% and a higher minimum take on foreign income.<\/p><p><strong>The story is dominating the front pages of the business press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/article\/us-usa-treasury-yellen\/yellen-pledges-u-s-international-cooperation-calls-for-global-minimum-tax-idUSKBN2BS0RK\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/79023ff2-c629-429c-8a34-16bf68b4ea15\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/treasurys-yellen-to-call-for-global-minimum-corporate-tax-rate-11617633701?mod=hp_lead_pos1\">WSJ<\/a>.<\/p><p><strong>MARKET WATCH- US stocks hit fresh record highs yesterday<\/strong> after fresh economic data provided more evidence that the country\u2019s economy is finally mounting a strong recovery from last year, covid shock, according to <a href=\"https:\/\/finance.yahoo.com\/news\/asia-stocks-set-modest-gains-220634048.html\">Bloomberg<\/a>. The S&amp;P 500 \u2014 which broke the 4k handle for the first time ever last week \u2014 gained another 1.4% during trading yesterday while the tech-heavy Nasdaq climbed 1.7%. The greenback and US treasury yields all fell as last week\u2019s jobs report caused a surge in risk-on appetite.<\/p><p><strong>FROM THE REGION- <\/strong><strong>Jordan\u2019s former crown prince has <\/strong><strong><a href=\"https:\/\/twitter.com\/RHCJO\/status\/1379107559991349248\">pledged loyalty<\/a><\/strong><strong> to King Abdullah II <\/strong>after being placed under house arrest on Saturday for allegedly plotting with foreign actors to destabilize the country. Hamza bin Hussein, along with several other high-profile figures, were detained by the government last week to protect the \u201csecurity and stability\u201d of the country.<\/p><p><strong>ALSO TODAY-<\/strong><\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/spring#:~:text=The%202021%20Spring%20Meetings%20will,Sunday%2C%20April%2011%2C%202021.&amp;text=Spring%20Meetings%20participants%20typically%20include,550%20accredited%20civil%20society%20members.\">Spring Meetings<\/a><\/strong><strong> of the IMF and the World Bank Group continue <\/strong><strong>today<\/strong><strong> and run <\/strong><strong>through Sunday, 11 April. <\/strong>This year\u2019s virtual meetings will bring together central bankers, ministers of finance and development, private sector executives, representatives from civil society organizations and academics.<\/p><p><strong>Later today: The IMF will give its latest forecast on the global economy <\/strong>\u2014 and its expectations for Egypt \u2014 when it publishes its World Economic Outlook<strong>.<\/strong><\/p><p><strong>The French Chamber of Commerce and Industry is hosting a working breakfast with<\/strong><strong> Sovereign Fund of Egypt CEO Ayman Soliman today<\/strong> at the residence of French ambassador St\u00e9phane Romatet.<\/p><p><strong>The chamber is also hosting a webinar this afternoon <\/strong>that will take a deep dive into the Madbouly government\u2019s program to create a national ID for all residential and commercial properties and to digitalize the country\u2019s building permit system. The gathering runs from 4pm to 5:30pm and <strong><a href=\"https:\/\/forms.gle\/gjGQURwcVdGJ24s9A\">you can sign up here<\/a><\/strong>.<\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The business community has until this Thursday, 8 April, to raise concerns or <\/strong><strong>otherwise give feedback on the Customs Act\u2019s draft executive regulations<\/strong>, according to a <a href=\"https:\/\/bit.ly\/3sS6Jyi\">Finance Ministry statement<\/a>. The ministry apparently hasn\u2019t received any complaints so far, clearing the path for the regs to come into effect. Under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d9f9d03-b89e-4f70-b83b-60a0b0199a89\">the proposed regulations<\/a>, importers would be allowed to pay customs in chunks over six-12 months, depending on how established their business is. The regs would also allow goods to move out of Egypt without submitting waybills on the spot.<\/p><p><strong>More information on the new construction licenses + building code will be made <\/strong><strong>public before next Thursday:<\/strong> The government <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1898769976968025\">will hold a presser<\/a> before 15 April to explain the details of the new system that will hand out construction licenses. The two-month pilot phase will begin 1 May before the system is fully rolled out at the start of the new fiscal year<strong>.<\/strong><\/p><p><strong>The Sovereign Fund of Egypt will issue the conditions booklet for the contract to<\/strong> <strong>develop the Mogamma El Tahrir this month<\/strong>, CEO Ayman Soliman said yesterday, according to <a href=\"https:\/\/alborsaanews.com\/2021\/04\/04\/1432886\">the local press<\/a>. Foreign and local investors will be able to bid for the contract, which will likely see the Mogamma <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67202e51-b4cf-476e-8612-f071182af3bc\">transformed into a multi-purpose building<\/a>, with a portion turned into an apartment hotel and others used for commercial purposes.<\/p><p><strong>Shoukry in Lebanon tomorrow:<\/strong> Foreign Minister Sameh Shoukry will pass a message from President Abdel Fattah El Sisi to Lebanese president Michel Aoun when he lands in Beirut tomorrow for talks with caretaker prime minister Saad Hariri and House Speaker Nabih Berri, <a href=\"https:\/\/dailynewsegypt.com\/2021\/04\/05\/egypts-shoukry-to-visit-lebanon-on-wednesday-for-talks\/\">local media<\/a> reported yesterday without providing further details.<\/p><p><strong>Russian Foreign Minister Sergey Lavrov is due in town on 12 April<\/strong> to discuss the latest developments on the Grand Ethiopian Renaissance Dam, signaling Russia could be looking to play an active role in mediating the impasse, according to TenTV\u2019s Al Mashhad (<a href=\"https:\/\/www.youtube.com\/watch?v=6Ue03xf1iRk\">watch, runtime: 1:28<\/a>). Lavrov\u2019s planned trip comes after expectations that Russian President Vladimir Putin would visit Egypt sometime in March did not materialize.<\/p><p><strong>Egyptian Iron and Steel\u2019s mining spinoff should be going live on the EGX <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc3c77c7-72c3-423f-9a89-d2c12b17880b\">sometime this<\/a><\/strong> <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc3c77c7-72c3-423f-9a89-d2c12b17880b\">week<\/a><\/strong> as the parent company prepares to go into liquidation.<\/p><p><strong>Amendments to the VAT act will be in the spotlight when <\/strong>Finance Minister Mohamed Maait meets this week with the House Planning and Budgeting Committee, committee head Fakhry El Fekky told <a href=\"https:\/\/bit.ly\/3rKmfL5\">Al Mal<\/a>. The committee has a raft of amendments to the law to discuss, including applying the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/976a0bd2-9def-4208-8eed-a9bcee2355be\">14% tax to the rent and purchase<\/a> of commercial and administrative properties, imposing VAT on crackers and some sweets, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40999825-ce0a-4afc-be87-32ef07a345f7\">removing the tax<\/a> on imports of strategic commodities.<\/p><p><strong>Inflation data<\/strong> for March will be out on or around Saturday, 10 April.<\/p><p><strong>\u201cSummer hours<\/strong><strong>\u201d will<\/strong> <strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1893821920796164\">come into effect<\/a><\/strong><strong> for retail stores and restaurants as of 17 April.<\/strong> This means retail shops can close at 11 pm (instead of 10 pm during the winter), while cafes and restaurants can stay open until 1 am (instead of midnight currently). We have more details on the winter vs. summer hours <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">here<\/a>.<\/p><p>The Central Bank of Egypt will meet to discuss interest rates on<strong> Thursday, 29 April<\/strong>.<\/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><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Startups operating in the green economy, including renewables, agritech, waste and water management, did not announce any official investment rounds in 2020. Are VCs and angel investors wary about investing in the sector? A combination of startup pipeline scarcity, scalability, exit possibilities and good old covid could provide the answer, sources tell us.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/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\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/king-abdullah-ii\/\">King Abdullah II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/margin-trading\/\">Margin Trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561394\" 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=\"561394\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/561394\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561394\" class=\"content-area-description single-story post-561394 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\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=\"561395\" 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=\"561395\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/operation-tax-spend\/\">\r\n                            Operation tax + spend                        <\/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\/04\/06\/operation-tax-spend\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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spend&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/operation-tax-spend\/\">\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\/04\/06\/operation-tax-spend\/&title=Operation tax + spend\">\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=Operation+tax+%2B+spend+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Foperation-tax-spend%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\/04\/06\/operation-tax-spend\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/49.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561396\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/operation-tax-spend\/49-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/49.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"49.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/49.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/49.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561395\" class=\"content-area-description single-story post-561395 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-finance-minister tag-gdp tag-mohamed-maait tag-nevine-gamea tag-state-budget tag-suez-canal-economic-zone tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Higher tax revenues will be used to subsidize increased government<\/strong> <strong>spending in the coming fiscal year<\/strong>, Finance Minister Mohamed Maait said yesterday. The Finance Ministry expects tax receipts to grow 11-12% in FY2020-2021, which will allow the government to pay for an increase in wages over the coming year, Maait told Asharq Business on the sidelines of a conference (<a href=\"https:\/\/bit.ly\/3upZePm\">watch, runtime 0:58<\/a>).<\/p>\n<p><strong>Where\u2019s the money coming from?<\/strong> Maait didn\u2019t shed any light on how the ministry is planning to boost tax revenues. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">Cabinet said last month<\/a> that the higher revenues will be underpinned by an expanded tax base and the rollout of electronic payment, and made no mention of changes to the tax code.<\/p>\n<p><strong>A mixed picture:<\/strong> The ministry has lowered its revenue expectations for the year ahead, and now thinks it will take EGP 150-160 bn less than EGP 1.3 tn figure in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">the draft budget<\/a> released last month, said Maait, who blamed revenue shortfalls in the tourism and aviation sectors. Despite this, overall revenues are still forecast to rise by 15% during the year, he added.<\/p>\n<p><strong>A EGP 420 bn-shaped hole:<\/strong> The ministry has lost out on EGP 200 bn in revenues during the current fiscal year due to the pandemic, <a href=\"https:\/\/bit.ly\/2Q0vMRi\">Al Arabiya<\/a> reported Maait as saying during the conference. This puts the total shortfall caused by the pandemic over the past two years at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb83464a-f0fb-4a40-9ec8-41af42bbf9b1\">some EGP 420 bn<\/a> \u2014 more than a third of the total revenues the government expected to take over the course of the current fiscal year.<\/p>\n<p><strong>GDP growth is expected to slow to 2.8% in FY2020-2021<\/strong>, compared to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/422458d6-8b81-411d-856a-d45787d8866e\">3.6% the<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/422458d6-8b81-411d-856a-d45787d8866e\">previous fiscal year<\/a>, the minister said. This puts predictions at the lower end of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7268a5b-a6d2-48a8-b108-8110d3f0e58e\">2.8-3.5% growth range previously announced<\/a>.<\/p>\n<p><strong>But brighter times are ahead:<\/strong> Egypt\u2019s real output is forecast to reach 5.4% in FY2021-2022 and could climb to 6% in FY2022-2023, the minister had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">sai<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">d last month.<\/a><\/p>\n<p><strong>ALSO FROM THE CONFERENCE - <\/strong><\/p>\n<p><strong>The government\u2019s FY2020-2021 export subsidies are set to breach EGP 25 bn<\/strong>, <a href=\"https:\/\/bit.ly\/3sX75E0\">Hapi<\/a><a href=\"https:\/\/bit.ly\/3sX75E0\">Journal<\/a> reports Trade Minister Nevine Gamea saying at the same industry event. Representatives from Export Councils <a href=\"https:\/\/bit.ly\/3rSiPGa\">met<\/a> yesterday with the ministry to put the final touches on the new program. The government had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f81a9b44-52eb-4d20-94fb-6457fa38ee1a\">allocated EGP 7 bn<\/a> towards subsidy payments in its FY2020-2021 budget, up from EGP 6 bn the year prior. The Export Subsidy Fund has been paying out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78bd0ba1-f9e2-47d9-9e64-429427e89f49\">EGP 600 mn in arrears per month<\/a>, in an attempt to settle overdue payments within three years.<\/p>\n<p><strong>An additional export subsidy scheme focusing on projects in the Suez Canal Economic Zone, Upper Egypt and the border governorates<\/strong> is planned for the coming year in cooperation with the Finance Ministry, Gamea <a href=\"https:\/\/alborsaanews.com\/2021\/04\/05\/1433105\">said<\/a>. The minister also said manufacturers could expect government support to cover shipping costs of their goods to African markets, as part of a government led strategy to expand exports to the continent.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-minister\/\">Finance Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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\/state-budget\/\">state budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561397\" 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=\"561397\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/tourism-workers-can-now-get-vaccinated\/\">\r\n                            Tourism workers can now get vaccinated                        <\/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\/04\/06\/tourism-workers-can-now-get-vaccinated\/\" 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\/04\/06\/tourism-workers-can-now-get-vaccinated\/')\">\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\/04\/06\/tourism-workers-can-now-get-vaccinated\/\">\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=Tourism workers can now get vaccinated&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/tourism-workers-can-now-get-vaccinated\/\">\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\/04\/06\/tourism-workers-can-now-get-vaccinated\/&title=Tourism workers can now get vaccinated\">\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=Tourism+workers+can+now+get+vaccinated+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Ftourism-workers-can-now-get-vaccinated%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\/04\/06\/tourism-workers-can-now-get-vaccinated\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561397\" class=\"content-area-description single-story post-561397 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-health-ministry tag-saudi-arabia tag-tourism tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The Health Ministry will start today vaccinating registered <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a6944c9-147e-4879-925f-c5ff4f1f6d49\">tourism workers<\/a><\/strong><strong>at<\/strong><strong> two <\/strong><strong>centers in South Sinai and Red Sea<\/strong> after rolling out the pilot phase yesterday, spokesperson Khaled Megahed told El Hekaya\u2019s Amr Adib last night (<a href=\"https:\/\/www.youtube.com\/watch?v=0wV1jXe2I2E\">watch, runtime 2:05<\/a>). The Health Ministry wants to get all workers in the sector vaccinated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb960df3-5af1-4939-8475-fb52b2458345\">before the summer tourist season begins<\/a> in June.<\/p>\n<p><strong>Some 177k people have so far been vaccinated out of the 928k who have applied to get the jabs<\/strong>, Megahed noted, calling on more citizens to register. Many have been redistributed to new vaccine centers to avoid overcrowding. The government has vaccinated 90% of registrees who suffer from three chronic diseases and 50% of those with two, he said.<\/p>\n<p><strong>Did you miss your appointment?<\/strong> You have three days to go and get it, else you\u2019ll have to start the registration process again, Megahed said (<a href=\"https:\/\/www.youtube.com\/watch?time_continue=1&v=0hFXdcukwGk&feature=emb_title\">watch, runtime: 2:12<\/a>).<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/351266783090607\">reported<\/a><\/strong><strong> 767 new covid-19 infections yesterday<\/strong>, up from 709 the day before. Egypt has now disclosed a total of 205,732 confirmed cases of covid-19. The ministry also reported 47 new deaths, bringing the country\u2019s total death toll to 12,210.<\/p>\n<p><strong>Only folks with immunity against covid-19 will be allowed to perform the <\/strong><strong>year-round umrah<\/strong> pilgrimage starting this Ramadan, the Saudi Ministry of Hajj and Umrah said in a <a href=\"https:\/\/twitter.com\/HajMinistry\/status\/1379100085330542595\/photo\/1\">tweet<\/a>. That means people who are fully vaccinated (two jabs if you\u2019re getting AstraZeneca, Pfizer, etc), who took the first dose 14 days prior to travel or who have fully recovered from the infection are eligible. The condition applies to those who will attend prayers in the Grand Mosque in Mecca, or enter the Prophet's Mosque in Medina, <a href=\"https:\/\/www.france24.com\/en\/live-news\/20210405-saudi-to-allow-only-immunised-pilgrims-to-mecca\">France24<\/a> reported.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561398\" 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=\"561398\">\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\/04\/06\/more-listings-please\/\">\r\n                            More listings, please.                        <\/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\/04\/06\/more-listings-please\/\" 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\/04\/06\/more-listings-please\/')\">\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\/04\/06\/more-listings-please\/\">\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=More listings, please.&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/more-listings-please\/\">\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\/04\/06\/more-listings-please\/&title=More listings, please.\">\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=More+listings%2C+please.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Fmore-listings-please%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\/04\/06\/more-listings-please\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561398\" class=\"content-area-description single-story post-561398 post type-post status-publish format-standard hentry category-ipo-watch tag-agriculture tag-egx tag-enterpriseam tag-ipo-watch tag-mohamed-farid tag-petrochemicals 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>Another two listings coming this year?<\/strong> An agricultural company and a petrochemicals firm will offer shares on the EGX this year, bourse chairman Mohamed Farid <a href=\"https:\/\/alborsaanews.com\/2021\/04\/05\/1433467\">said yesterday<\/a>, without disclosing whether they would be primary or secondary offerings. This came on the same day that Public Enterprises Minister Hisham Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c843e67-c38f-4481-b7a2-84e4373812b8\">announced<\/a> that two or three state-owned companies will sell shares in 3Q2021 in a reboot of the state privatization program.<\/p>\n<p><strong>Egypt has caught some of the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22f45c98-93ec-4ac4-bc9f-2ca35bebf81a\">global IPO fever<\/a><\/strong><strong> in the past few weeks:<\/strong> Higher education management company Taaleem saw strong demand from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e5a1a2a-08df-4a8e-a3ce-f857a11f002a\">institutional players<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b4f4fd0-2ce2-44d7-9de4-e0cb71aabbba\">retail traders<\/a> when it kicked off its IPO last week, while cosmeceutical and nutraceutical player Macro Pharma will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7b185ef-8845-4573-9b36-31998bb84ee7\">start trading on 19 April<\/a>. Consumer healthcare company IDH could go ahead with a 5% technical listing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f85ca305-e865-4879-8646-967b53e73296\">as soon as this month<\/a>.<\/p>\n<p><strong>State priva-what program?<\/strong> Yeah, it has been a while. Even before covid, the government\u2019s privatization drive had seen repeated delays and cancellations, with only Eastern Company going ahead with a secondary offering in the three years since the program was announced. The program ran headlong into global market turmoil last year though as the pandemic sent shockwaves through the global markets .Alexandria Containers, Abu Qir Fertilizers, and Sidi Kerir Petrochemicals have also pushed back stake sales.<\/p>\n<p><strong>ALSO KEEP YOUR EYE ON: <\/strong>Naguib Sawiris\u2019 <strong>Ora Developers<\/strong> could <strong><a href=\"https:\/\/bit.ly\/2Py6ji0\">IPO<\/a><\/strong> on the EGX at some point in the future and is currently planning to <a href=\"https:\/\/bit.ly\/2PDNFVY\">acquire<\/a><strong> a 600-acre land plot<\/strong> on the North Coast.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/petrochemicals\/\">petrochemicals<\/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=\"561399\" 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=\"561399\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/azimut-egypt-eyes-two-new-funds\/\">\r\n                            Azimut Egypt eyes two new funds                        <\/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\/04\/06\/azimut-egypt-eyes-two-new-funds\/\" 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\/04\/06\/azimut-egypt-eyes-two-new-funds\/')\">\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\/04\/06\/azimut-egypt-eyes-two-new-funds\/\">\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=Azimut Egypt eyes two new funds&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/azimut-egypt-eyes-two-new-funds\/\">\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\/04\/06\/azimut-egypt-eyes-two-new-funds\/&title=Azimut Egypt eyes two new funds\">\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=Azimut+Egypt+eyes+two+new+funds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Fazimut-egypt-eyes-two-new-funds%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\/04\/06\/azimut-egypt-eyes-two-new-funds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561399\" class=\"content-area-description single-story post-561399 post type-post status-publish format-standard hentry category-investment-watch tag-asset-management tag-azimut-egypt-asset-management tag-enterpriseam tag-equities tag-investment-watch 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>Azimut Egypt Asset Management plans to launch two new funds this<\/strong><strong> year<\/strong>, with one going live within a few days and the other coming after Ramadan, Managing Director Ahmed Abou El Saad said at a conference yesterday, according to <a href=\"https:\/\/bit.ly\/3wraOvr\">Hapi Journal<\/a>. The Italy-based asset manager has obtained all necessary approvals for the funds and completed all the required procedures, he said without revealing further details.<\/p>\n<p><strong>Azimut\u2019s first equity fund had a good 2020:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe072652-5ad5-462d-bb37-84613eeac6ba\">Opened in July of last year<\/a>, the AZ Equity-Egypt fund grew 35% during the latter half of the year to reach EGP 250 mn, primarily due inflows from European investors, El Saad said yesterday. The firm said at launch that the Luxembourg-headquartered fund would open with USD 10 mn in capital, and target USD 50 mn in AUM as a \u201cfirst stage.\u201d<\/p>\n<p><strong>And its bond fund has more than doubled in value since it <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/958df956-5117-4d46-83b4-764e237c7ef3\">launched in October<\/a><\/strong><strong>.<\/strong> Azimut\u2019s first Egypt-focused fixed-income fund, A-Z Savings, raised almost EGP 300 mn from investors when it launched at the end of October. The fund\u2019s value had more than doubled to reach EGP 740 mn in March, Azimut <a href=\"https:\/\/www.facebook.com\/AzimutEgypt\/photos\/a.139567167888001\/258713285973388\/\">said<\/a> yesterday.<\/p>\n<p><strong>How big is Azimut? <\/strong>Parent company <a href=\"https:\/\/www.azimut-group.com\/\">Azimut Group<\/a> is an asset manager with EUR 57 bn in assets under management (AUM), while the Egypt arm says it has total AUM of EGP 7 bn.<\/p>\n<p><strong>ALSO FROM THE EGX-<\/strong><\/p>\n<p><strong>The EGX plans to launch its first bond index before the end of June<\/strong>, and a trading platform is ready and waiting to go, <a href=\"https:\/\/alborsaanews.com\/2021\/04\/05\/1433467\">local press<\/a> quoted Chairman Mohamed Farid as saying during a conference.<\/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\/asset-management\/\">asset management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/azimut-egypt-asset-management\/\">Azimut Egypt Asset Management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561400\" 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=\"561400\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/\">\r\n                            Banque Misr inks USD 100 mn loan agreement with JICA for SME lending                        <\/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\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/\" 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\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/')\">\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\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/\">\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=Banque Misr inks USD 100 mn loan agreement with JICA for SME lending&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/\">\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\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/&title=Banque Misr inks USD 100 mn loan agreement with JICA for SME lending\">\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=Banque+Misr+inks+USD+100+mn+loan+agreement+with+JICA+for+SME+lending+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Fbanque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending%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\/04\/06\/banque-misr-inks-usd-100-mn-loan-agreement-with-jica-for-sme-lending\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561400\" class=\"content-area-description single-story post-561400 post type-post status-publish format-standard hentry category-debt-watch tag-debt-watch tag-development-finance tag-enterpriseam tag-japan tag-jica tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Banque Misr has signed a USD 100 mn financing agreement<\/strong> with the Japan International Cooperation Agency (JICA) and Sumitomo Mitsui Banking Corporation (SMBC) for onlending to MSMEs, Banque Misr and JICA said in separate statements (<a href=\"https:\/\/www.jica.go.jp\/english\/news\/press\/2021\/20210405_10_en.html\">here<\/a> and <a href=\"https:\/\/www.banquemisr.com\/en\/aboutus\/press\/pages\/jica-facility-agreement.aspx?csrt=5997159010873381026\">here)<\/a>. The loan will improve access to finance for small firms, especially those owned by women. The statements didn\u2019t specify how much JICA and SMBC are individually providing or quantify an earmark for women-led businesses.<\/p>\n<p><strong>This is the first financing to be agreed under JICA and SMBC\u2019s sustainable finance framework<\/strong>, a set of guidelines launched last month that aims to ensure that finance produces socially and environmentally beneficial outcomes.<\/p>\n<p><strong>JICA\u2019s commitments to Egypt now stand at almost USD 3 bn:<\/strong> Most recently, the agency <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2002a9d-fb19-4992-a161-ba9ce65cada6\">inked a USD 240 mn loan<\/a> in February to support public finances through covid and fund green projects. JICA is also committing funds to the construction of <a href=\"https:\/\/www.jica.go.jp\/english\/news\/field\/2019\/20200206_01.html\">the Grand Egyptian Museum<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/698f8093-a1ae-4619-8ef3-c2ae83047fa6\">upgrades to the Cairo metro<\/a>, and is on board to finance <a href=\"https:\/\/bit.ly\/3moG2ht\">four new electricity control centers and install almost 1 mn smart meters<\/a>, among other things.<\/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\/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\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jica\/\">JICA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561401\" 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=\"561401\">\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\">Mining<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/\">\r\n                            Sawiris gearing up to bid for gold exploration blocks in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sawiris gearing up to bid for gold exploration blocks in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/&title=Sawiris gearing up to bid for gold exploration blocks in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sawiris+gearing+up+to+bid+for+gold+exploration+blocks+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Fsawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/50.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561402\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/50-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/50.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"50.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/50.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/50.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561401\" class=\"content-area-description single-story post-561401 post type-post status-publish format-standard has-post-thumbnail hentry category-mining tag-enterpriseam tag-la-mancha tag-mining tag-naguib-sawiris tag-oil-ministry 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>Naguib Sawiris is planning to take part in Egypt's ongoing gold exploration t<\/strong><strong>ender<\/strong>, the bn\u2019aire said at a conference yesterday, the <a href=\"https:\/\/alborsaanews.com\/2021\/04\/05\/1433256\">local press<\/a> reports. Sawiris\u2019 La Mancha Holding is the largest shareholder in Toronto-based <a href=\"https:\/\/www.endeavourmining.com\/\">Endeavour Mining<\/a>, and also <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/06\/sawiris-la-mancha-plans-gbp-6-6-mn-investment-in-altus-strategies\/\">holds an almost 35% stake<\/a> in Altus strategies, whose subsidiary Akh Gold <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9749041e-f303-49d6-a7ef-4167d3c68224\">landed four gold exploration licenses<\/a> for nine Eastern Desert Blocks in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b6dc75f-f325-4023-ac97-64fff07b8999\">tender launched last year<\/a>. La Mancha\u2019s Endeavour was not among the companies the ministry said were awarded blocks, despite having <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cee2ee1e-4c48-48b5-bab4-027394927fb9\">reportedly made a bid<\/a>.<\/p>\n<p><strong>Naguib has had his eye on gold mining in Egypt for some time now:<\/strong> Sawiris had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d6acc37-7a7f-4797-9b61-4dd3b5d7fd39\">expressed his interest<\/a> in the government\u2019s international gold mining tenders and said recent amendments to the Mineral Resources Act were \u201cmore favorable and more realistic and would attract foreign investments to the sector.\u201d<\/p>\n<p><strong>He\u2019ll have another two months to get a bid together:<\/strong> The deadline to submit bids in the ongoing round <a href=\"https:\/\/bit.ly\/3mmQczK\">was recently extended<\/a> to 15 May, after having originally been planned for 15 March.<\/p>\n<p><strong>Sawiris has been making moves elsewhere on the continent:<\/strong> Endeavour in February <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e6c5c8-cff2-4896-95bd-1ee404c03c68\">finalized the takeover of<\/a> Senegal and Burkina Faso-focused Teranga Gold <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f083db8c-1fd4-4886-a472-d592cccafea8\">for almost USD 1.9 bn<\/a> \u2014 an acquisition that created one of West Africa\u2019s 10 largest gold producers.<\/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\/la-mancha\/\">La Mancha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561403\" 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=\"561403\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/561403\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561403\" class=\"content-area-description single-story post-561403 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\/3\/Sodic-The-Estate2-1600px.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=\"561404\" 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=\"561404\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/last-nights-talk-shows-on-6-april-2021\/\">\r\n                            Last Night\u2019s Talk Shows on 6 April 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 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class=\"content-area-description single-story post-561404 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-diplomacy tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-politics tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The GERD impasse was the top story on the airwaves last night:<\/strong> The nation\u2019s talking heads weren\u2019t happy with Ethiopia last night, blaming our upstream neighbor for the latest failure in the ongoing GERD saga after talks in Kinshasa <a href=\"https:\/\/bit.ly\/3rShcZ6\">ended yesterday without an agreement<\/a> on how to proceed with the negotiations. Former irrigation minister Hossam El Moghazy told Ala Mas\u2019ouleety\u2019s Ahmed Moussa that expecting success was always a long shot, given the history of failed attempts. Ethiopia is still continuing its pattern of equivocation and doesn\u2019t want to reach a binding agreement to be able to control the Nile water to either generate electricity or build further dams, he added, highlighting that Egypt and Sudan might \u201crun out of patience\u201d if no progress is seen within three months (watch, runtime: <a href=\"https:\/\/www.facebook.com\/watch\/?v=258785089286759\">14:53<\/a> | <a href=\"https:\/\/www.facebook.com\/watch\/?v=295793688771825\">8:59<\/a>).<\/p>\n<p><strong>Time to hope for a US intervention?<\/strong> The only possible way out is that Ethiopia postpones the second filling of the GERD at the behest of the US, Tarek Fahmy, political science professor at Cairo University, told Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=iyOjJyn1JRc\">watch, runtime 9:37<\/a>). He added Ethiopia might seek a partial agreement that could include postponing the dam\u2019s operation.<\/p>\n<p><strong>Warnings of conflict:<\/strong> Ambassador Mohamed Hegazy, former assistant foreign minister, told Masaa DMC that the current talks are Egypt's last genuine attempt to reach an agreement and Ethiopia should be aware that the second filling or other unilateral action could significantly destabilize the region (<a href=\"https:\/\/www.youtube.com\/watch?v=-VMFEk9K2zE\">watch, runtime 6:11<\/a>). Ahram Center for Political and Strategic Studies advisor Hani Raslan told Hadeeth Al Kahira that Egypt is continuing to work for an agreement, yet Ethiopia\u2019s actions risks igniting a regional conflict (<a href=\"https:\/\/www.youtube.com\/watch?v=UuorIb45218\">watch, runtime 8:25<\/a>). Egyptian Foreign Minister Sameh Shoukry said earlier this week that the negotiations would be the last chance for the three countries to reach an agreement on the filling and operation of the dam before the rainy season when Ethiopia plans to fill the GERD for the second time, an act that President Abdel Fattah El Sisi has called a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a2840fd-8b01-420e-8826-6cc918bb0062\">\u201cred line.\u201d<\/a><\/p>\n<p><strong>So, what\u2019s next?<\/strong> Unconfirmed press reports had suggested that the three countries\u2019 leaders could step in for a higher level summit if the ministerial meetings failed to yield a resolution.<\/p>\n<p><strong>The results of the Ever Given investigation could be announced this week:<\/strong> That\u2019s according to Suez Canal Authority chief Osama Rabie, who told Hadeeth Al Kahira last night that the results are expected in the next 2-3 days (<a href=\"https:\/\/www.youtube.com\/watch?v=dKQ9IZto1ns\">watch, runtime 5:17<\/a>). Normal traffic was finally resumed yesterday, with 85-90 ships making the trip.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/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 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"561406\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/egypt-in-the-news-on-6-april-2021\/\">\r\n                            Egypt in the News on 6 April 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   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\n<article id=\"post-561406\" class=\"content-area-description single-story post-561406 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-dispute-watch tag-enterpriseam tag-hazem-el-beblawi tag-human-rights tag-politics tag-suez-canal tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Still getting attention in the foreign press this morning:<\/strong> The online targeting of Marwa Elselehdar \u2014 Egypt\u2019s first female ship captain \u2014 amid fake news that she was responsible for last month\u2019s chaos in the Suez Canal. (<a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/04\/05\/marwa-elselehdar-suez-ever-given\/\">Washington Post<\/a> | <a href=\"https:\/\/www.independent.co.uk\/news\/world\/middle-east\/suez-canal-blocked-female-sailor-b1826724.html\">Independent<\/a> | <a href=\"https:\/\/www.timesofisrael.com\/egypts-first-female-ship-captain-says-she-was-falsely-blamed-for-suez-crisis\/\">Times of Israel<\/a> | <a href=\"https:\/\/www.entrepreneur.com\/article\/368665\">Entrepreneur<\/a>)<\/p>\n<p><strong>Former prime minister and ex-IMF rep Hazem El Beblawi won\u2019t be held liable for <\/strong><strong>the alleged torture of<\/strong><strong> US human rights advocate Mohamed Soltan<\/strong>, who was imprisoned in Egypt between 2013 and 2015, according to <a href=\"https:\/\/www.washingtonpost.com\/local\/legal-issues\/egypt-torture-lawsuit-immunity\/2021\/04\/05\/31d74746-93d9-11eb-a74e-1f4cf89fd948_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_homepage\">the Washington Post<\/a>. El Beblawi was interim PM in 2013-2014. Soltan filed last year a federal lawsuit, but the US Justice Department asked last Thursday to dismiss the case after Beblawi was found <a href=\"https:\/\/ent.news\/2021\/4\/Beblawi.pdf\">immune<\/a> from court proceedings in the United States, having stepped down from his position at the IMF and left the US at the end of October.<\/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\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hazem-el-beblawi\/\">Hazem El Beblawi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561407\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561408\" 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=\"561408\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/also-on-our-radar-on-6-april-2021\/\">\r\n                            Also on our Radar on 6 April 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\/04\/06\/also-on-our-radar-on-6-april-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\/04\/06\/also-on-our-radar-on-6-april-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\/04\/06\/also-on-our-radar-on-6-april-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 6 April 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/also-on-our-radar-on-6-april-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\/04\/06\/also-on-our-radar-on-6-april-2021\/&title=Also on our Radar on 6 April 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+6+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Falso-on-our-radar-on-6-april-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\/04\/06\/also-on-our-radar-on-6-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561408\" class=\"content-area-description single-story post-561408 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-building-codes tag-cana-sugar tag-construction tag-edita-capital-cut tag-enterpriseam tag-ipo-watch tag-judiciary tag-naguib-sawiris tag-north-coast tag-ora-developers tag-real-estate-mostafa-madbouly tag-real-estate-sector 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Egypt is planning to develop six \u201cnew cities\u201d<\/strong> across the country, as part of its urban development plans, Deputy Housing Minister Walid Abbas said at <a href=\"https:\/\/alborsaanews.com\/2021\/04\/04\/1432887\">a real estate conference<\/a> yesterday. The government is currently conducting feasibility studies on the new cities, which would follow in the footsteps of other new developments such as New Alamein and New Mansoura, Abbas added.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li>Snackfood maker <strong>Edita <\/strong>will reduce its <a href=\"https:\/\/ent.news\/2021\/4\/Edita-capital-cut.pdf\">issued capital (pdf)<\/a> from EGP 145.1 mn to EGP 144.6 mn by cancelling 2.3 mn treasury shares.<\/li>\n<li>The <strong>Agriculture Ministry<\/strong> has issued the executive regulations for the <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d65fc3-76a6-44f8-9453-4c26f8c87ed8\">Organic<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d65fc3-76a6-44f8-9453-4c26f8c87ed8\">Farming Act<\/a><\/strong>, bringing into effect the seven-part bill, which governs tariffs, imports and exports, oversight mechanisms, and other aspects of the organic farming industry.<\/li>\n<li>The <strong>Central Bank of Egypt<\/strong> will provide subsidized funding through local banks to bakeries to encourage them to convert to natural gas, under an <a href=\"https:\/\/bit.ly\/3umIMzl\">MoU signed<\/a> with the <strong>Supply Ministry<\/strong>.<\/li>\n<li>State-owned <strong>Canal Sugar<\/strong>\u2019s Minya factory has begun trial operations and <a href=\"https:\/\/www.reuters.com\/article\/uk-egypt-commodities-sugar-idUSKBN2BS18O\">commercial production<\/a> will start before June \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/71c55782-46a2-4367-b658-622137996846\">likely in May<\/a> \u2014 and aims to reach maximum capacity of up to 1 mn tons of sugar by 2022.<\/li>\n<li><strong>The Public Prosecutor <\/strong>has referred three defendants involved in <strong>the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27214da4-97fc-4196-8108-33a0c7ce6049\">Fairmont<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27214da4-97fc-4196-8108-33a0c7ce6049\">case<\/a><\/strong> to the Criminal Court after they were accused of committing <a href=\"https:\/\/www.facebook.com\/ppo.gov.eg\/posts\/3876975859076954\">another assault<\/a> against a woman on the North Coast in 2015.<\/li>\n<\/ul>\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\/building-codes\/\">building codes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cana-sugar\/\">Cana Sugar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita-capital-cut\/\">Edita capital cut<\/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\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/north-coast\/\">north coast<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-mostafa-madbouly\/\">real estate Mostafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-sector\/\">real estate sector<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561409\" 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=\"561409\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/what-the-markets-are-doing-on-6-april-2021\/\">\r\n                            What the markets are doing on 6 April 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\/04\/06\/what-the-markets-are-doing-on-6-april-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\/04\/06\/what-the-markets-are-doing-on-6-april-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/what-the-markets-are-doing-on-6-april-2021\/&title=What the markets are doing on 6 April 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+the+markets+are+doing+on+6+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Fwhat-the-markets-are-doing-on-6-april-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\/04\/06\/what-the-markets-are-doing-on-6-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561409\" class=\"content-area-description single-story post-561409 post type-post status-publish format-standard hentry category-planet-finance tag-capital-markets tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-gamestop tag-hedge-funds tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>The market value of cryptocurrencies has<\/strong> <strong>doubled in just two months<\/strong> to more than USD 2 tn as institutional investors pile into the asset class, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-05\/crypto-market-cap-doubles-past-2-trillion-after-two-month-surge?sref=mmeFTDW1\">Bloomberg<\/a> reported. BTC\u2019s price doubled to USD 58,858 this year and is alone worth over USD 1 trn, while Ether, Binance Coin, Polkadot, Tether and Cardano stand at about USD 422 bn combined.<\/p><p><strong>Oil prices slumped yesterday after OPEC+ decided last week it <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/734e943c-8f61-4cb2-8b26-72e25d6a6747\">would ease<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/734e943c-8f61-4cb2-8b26-72e25d6a6747\">production cuts<\/a><\/strong><strong> starting May.<\/strong> Brent crude fell 4.2%, reversing temporary gains made last week, demonstrating confidence in an imminent rebound in oil demand, <a href=\"https:\/\/www.reuters.com\/article\/us-global-oil\/oil-prices-fall-after-prior-gains-driven-by-opec-move-idUSKBN2BS007?il=0\">Reuters<\/a> reports. Following the announcement, Saudi Arabia raised the official selling price for Asia starting May, amid a mixed recovery that could be stalled by renewed lockdown restrictions in India. But Goldman Sachs analysts remain optimistic that the market can absorb even more supply than OPEC+ is promising, and called the recent price slump \u201ctransient\u201d in a report, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-04\/oil-drops-after-opec-decides-on-gradual-easing-of-supply-curbs?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> writes.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,257<\/p>\n<\/td>\n<td>\n<p>-1.5% (YTD: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>9,964<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +14.7%)<\/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>6,015<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +19.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,573<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +3.3%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,077<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +8.6%)<\/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>6,737<\/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 62.15<\/p>\n<\/td>\n<td>\n<p>-4.2%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.51<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,729<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 58,946<\/p>\n<\/td>\n<td>\n<p>+1.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 1.5% yesterday<\/strong> on turnover of EGP 872 mn. (38.7% below the 90-day average) Foreign investors were net sellers.<\/p><p><strong>In the green: <\/strong>Abu Qir Fertilizers (+4.9%), Eastern Company (+2.1%) and ElSewedy Electric (+2.0%).<\/p><p><strong>In the red: <\/strong>Pioneers (-8.6%), MM Group (-6.4%) and Orascom Financial (-6.4%).<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gamestop\/\">Gamestop<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hedge-funds\/\">hedge funds<\/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<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"561410\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/why-are-vcs-and-angels-wary-about-investing-in-green-startups\/\">\r\n                            Why are VCs and angels wary about investing in green startups?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/why-are-vcs-and-angels-wary-about-investing-in-green-startups\/\" 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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Most of these investment rounds were directed towards digital payments, fintech, and e-commerce. As for startups operating in the green economy \u2014 including renewables, agritech, waste and water management \u2014 zero rounds were announced throughout 2020.<\/p>\n<p><strong>But why is that?<\/strong> A combination of startup pipeline scarcity, a lack of scalability and exit possibilities, and good old covid could provide the answer, sources tell us. Back in 2014, there was a \u201cgreen surge\u201d in the entrepreneurship scene, with about 130 startups founded in the sector, Ahmed Zahran, CEO and cofounder of solar-dependent power company <a href=\"https:\/\/karmsolar.com\/\">KarmSolar<\/a> explains. Back then, the topic of climate change was hot, but today, many of these startups have gone cold or ceased to exist. Today, we look into why green economy startups make some investors wary of injecting funding.<\/p>\n<p><strong>The big problem lies in the lack of a pipeline of startups and investors in the green economy. <\/strong>\u201cThe whole supply chain of the green economy is not there, neither at the level of investors nor at the level of startups,\u201d Khaled Ismail, managing partner of early-stage fund <a href=\"https:\/\/www.himangel.com\/\">HIMangel<\/a> tells us. Unlike tech startups, the startup pipeline in the green economy sector is scarce and does not provide enticing local success stories, in terms of impact and ROI, making it seem less profitable.<\/p>\n<p><strong>Then there\u2019s the lack of exit and scalability options in these types of startups. <\/strong>\u201cSocial impact investments need a lot of awareness and there is not a lot of scale at the beginning,\u201d said Hassan Mansi, program director of incubation program <a href=\"https:\/\/www.startegypt.com\/en\">StartEgypt<\/a>, powered by <a href=\"https:\/\/www.flat6labscairo.com\/\">Flat6Labs<\/a>. Unclear exit paths and asset-heavy business models are not attractive to investors. \u201cAs an angel investor, you\u2019re looking for a level of scalability that is reflective of the risk you are taking, and a clear path towards the next [investor],\u201d Aly El Shalakany, chairman of the <a href=\"https:\/\/cairoangels.com\/\">Cairo Angels<\/a>, tells us. In the green economy specifically, it is not very clear what exits would look like, he explains, partly due to them mostly being asset-heavy. Unlike tech startups, massive scalability and money-laden exits are not seamlessly on the radar.<\/p>\n<p><strong>Thirdly, the cashflow cycle of green economy startups highly differs from the one found in tech startups. <\/strong>Mostly plagued from a negative cashflow cycle that can take up to 6-8 months to recover, startups operating in the field lend themselves better to bank loans, rather than VC funding, Ismail explains. \u201cHowever, bank loans come with a lot of restrictions, especially when it comes to eligibility criteria, which makes it difficult for early-stage startups to obtain them,\u201d he adds.<\/p>\n<p><strong>Covid definitely did not help in attracting sector-related investments in startups. <\/strong>Zahran believes that the lack of investments in green economy startups in 2020 was \u201cnatural\u201d due to the pandemic. Covid is a health-related urgency, rather than an environmental problem, making it somewhat expected that green investments would be put on the back burner in the face of a crisis, said Mansi.<\/p>\n<p><strong>So, are no investors interested in funding green economy startups? Not necessarily.<\/strong> However, it takes a certain type of investor to back such businesses. \u201cThe ones investing in the green economy today are seasoned investors with seasoned mandates,\u201d Nour El Assal, CEO and cofounder of waste management startup <a href=\"https:\/\/www.tagaddod.com\/\">Tagaddod<\/a>, notes. Entities that have previously invested in startups in the sector include Cairo Angels and HIMAngel. Zahran echoes El Assal\u2019s thoughts, saying that the investors approaching KarmSolar are specialized in utilities and usually invest in water and electricity plants.<\/p>\n<p><strong>One factor, however, could still attract VC and angel investors: Long-term demand. <\/strong>\u201cIf you\u2019re looking for investments in these hard times, you need to focus on solving a real market problem that would give you leverage in terms of scalability and commercialization,\u201d Mansi advises. This ensures market demand. Saving the environment alone will not ensure profitability. \u201cThe good thing is that energy and utilities startups are more long-term and less risky, because the demand will always be there as long as people are using those utilities,\u201d Zahran tells us.<\/p>\n<p><strong>But the nature of green economy startups require investment instruments that are not necessarily VC or angel investment-related<\/strong>. \u201cOne of the main needs and gaps that need to be fulfilled [in Egypt] is the improvement in the availability of and access to specialized funds targeting [...] green entrepreneurs,\u201d <a href=\"https:\/\/switchmed.eu\/wp-content\/uploads\/2020\/04\/National-Scaling-up-Roadmaps-EN-Egypt.pdf\">according to the EU\u2019s SwitchMed initiative<\/a>.<\/p>\n<p><strong>That said, VCs may be starting to wise up to the green economy. <\/strong>On the upside, more data about the impact of green startups in general is available globally \u2014 a factor which helps convince investors of the potential at hand, according to Tagaddod\u2019s El Assal. His startup is currently raising investments. He notes that the investment climate in 4Q2020 and 1Q2021 is much better than the same period last year. For instance, the investment model of VC Egypt Ventures combines public funding with private sector engagement, <a href=\"https:\/\/dailynewsegypt.com\/2021\/01\/05\/egypt-ventures-raises-egp-104m-investments-in-2020-international-cooperation-ministry\/\">according to environmental, social and governance (ESG) principles<\/a>. Investors are starting to look more into the green economy, but with a focus on agritech, Mostafa Hassanen, CEO of hydroponic and aquaculture farm solutions company Plug\u2019n\u2019Grow, says. Last September, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/383461\/Business\/Economy\/Changelabs-provides-funds-for--promising-Egyptian-.aspx\">startup accelerator ChangeLabs provided funding for 13 startups<\/a>, seven of which were operating in the green economy sector.<\/p>\n<p><strong>And we may be seeing an emergence of specialized firms: <\/strong>70% of StartEgypt\u2019s portfolio are environment-related, either focusing on agriculture or renewable energy. \u201cStarting 2H2021, we will create two growth-hacking cycles for social impact startups, including green economy startups, dedicated as a pipeline for Flat6Labs for potential seed-funding,\u201d Mansi reveals. Moreover, El Shalakany tells us that an agritech fund is on Cairo Angels\u2019 drawing board.<\/p>\n<p><strong>Your top green stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Solar:<\/strong> Contracts to set up a EUR 38 mn, 50 MW <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e594ca6f-173e-4236-b562-ed6b0afd8033\">solar power plant in Zaafarana<\/a> by mid 2022 have been inked between a consortium led by Germany\u2019s <a href=\"https:\/\/belectric.com\/\">Belectric<\/a> and the New and Renewable Energy Authority, the Electricity Ministry said in <a href=\"http:\/\/www.moee.gov.eg\/test_new\/speach_info.aspx?h_id=2215&call_p=home.aspx\">a statement<\/a> yesterday.<\/li>\n<li><strong>Recycling:<\/strong> PepsiCo has <a href=\"https:\/\/bit.ly\/3dPpvjJ\">launched<\/a> a EGP 10 mn platform to increase the uptake of recycled plastics in Egypt as part of a government strategy to increase private sector participation in the recycling industry.<\/li>\n<li><strong>Green investments: <\/strong>Transport player Egytrans' CEO says the company\u2019s <a href=\"https:\/\/bit.ly\/3ulfK3k\">next investment<\/a> could be in renewable energy and sustainable water consumption solutions.<\/li>\n<li><strong>Funding:<\/strong> The green bond boom is leaving out emerging markets most in need of climate-friendly funding, according to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75dcee96-344f-4364-a521-1341a92ffbe7\">report<\/a> by Imperial College Business School.<\/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\/angel-investment\/\">Angel Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cairo-angels\/\">Cairo Angels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flat6labs\/\">Flat6Labs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy-startups\/\">Green economy startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmsolar\/\">KarmSolar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kfw\/\">Kfw<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/plugngrow\/\">Plug\u2019n\u2019Grow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startegypt\/\">StartEgypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"561412\" 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=\"561412\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/national-museum-of-egyptian-civilization-sells-800-tickets-on-opening-day\/\">\r\n                            National Museum of Egyptian Civilization sells 800 tickets on opening day                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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sells 800 tickets on opening day\">\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=National+Museum+of+Egyptian+Civilization+sells+800+tickets+on+opening+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F06%2Fnational-museum-of-egyptian-civilization-sells-800-tickets-on-opening-day%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\/04\/06\/national-museum-of-egyptian-civilization-sells-800-tickets-on-opening-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/53.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561413\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/national-museum-of-egyptian-civilization-sells-800-tickets-on-opening-day\/53-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/53.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"53.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/53.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/53.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561412\" class=\"content-area-description single-story post-561412 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-ancient-egypt tag-culture tag-enterpriseam tag-history tag-on-your-way-out tag-tourism tag-tourism-and-antiquities-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Some 800 tickets were sold <\/strong><strong>yesterday, <\/strong><strong>the first day that the main hall of the<\/strong> <strong>National Museum of Egyptian Civilization<\/strong> was open to visitors, the Tourism and Antiquities Ministry said in a <a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/3966474323398188\">statement<\/a>. The museum, which was inaugurated during a lavish ceremony on Saturday night, welcomed 800 visitors in addition to 400 local and international journalists during its first day. Another 600 tickets were sold online through the ministry\u2019s website (<a href=\"https:\/\/egymonuments.com\/en\/\">tap or click<\/a>), Executive Vice President Fayrouz Fikry said. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e349cd2-3163-4b60-9b34-84d25eed7ff7\">Twenty-two royal mummies were transported<\/a> to the site from the Egyptian Museum on Saturday in an extravagant made-for-TV parade.<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561414\" 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\/04\/06\/your-essential-business-calendar-on-6-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561414\" class=\"content-area-description single-story post-561414 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>April: The government\u2019s fuel pricing committee is scheduled to meet for its quarterly review of prices<\/p>\n<p>5-11 April: The <a href=\"https:\/\/live.worldbank.org\/\">Spring Meetings<\/a> of the IMF and the World Bank Group will take place virtually.<\/p>\n<p>5-6 April (Monday-Tuesday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/conference-zone\/Conference-Overview.html\">Cityscape Egypt<\/a>virtual conference on real estate investment.<\/p>\n<p>6 April (Tuesday): French Chamber of Commerce and Industry in Egypt working breakfast with Sovereign Fund of Egypt CEO Ayman Soliman.<\/p>\n<p>6 April (Tuesday): French Chamber of Commerce and Industry in Egypt will host the \u201c<a href=\"https:\/\/www.ccfe.org.eg\/evenements\/webinar.html\">Egyptian Government's Real Estate Wealth Inventory and Management Project<\/a>\u201d webinar.<\/p>\n<p>7 April (Wednesday): British-Egyptian Business Association (BEBA) webinar on digital banking and fintech.<\/p>\n<p>8 April (Thursday): The Information Technology Industry Development Agency (ITIDA) will host a matchmaking virtual event, dubbed \u201c<a href=\"https:\/\/thenextweb.com\/events\/hangout-with-vcs-egypt\">Hangout with VCs<\/a>.\u201d<\/p>\n<p>8-10 April (Thursday-Saturday): The TriFactory\u2019s Endurance Festival at Somabay.<\/p>\n<p>12 April (Sunday): Russian Foreign Minister Sergey Lavrov will visit Egypt for GERD talks (<a href=\"https:\/\/www.youtube.com\/watch?v=6Ue03xf1iRk\">watch: runtime: 1:28<\/a>).<\/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 (TBC),<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Coptic Easter Sunday.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>25-28 May (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/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>7-9 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday) : The International Exhibition of Materials and Technologies for Finishing and Construction (Turnkey Expo), Cairo International Conference Center.<\/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, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/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>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>12-15 September (Sunday-Wednesday): <a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a>: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): <a href=\"https:\/\/www.egypt-projects.com\/\">Egypt Projects 2021<\/a> expo, Egypt International Exhibition Center, Cairo, Egypt.<\/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>12-14 October (Tuesday - Thursday) <a href=\"https:\/\/www.facebook.com\/MOC.Egypt.show\/videos\/297288814759237\/?__tn__=-R\">Mediterranean Offshore Conference<\/a>, Alexandria, Egypt<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-3 November (Monday-Wednesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy<\/a> exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt<\/p>\n<p>1-12 November (Monday-Friday): <a href=\"https:\/\/ukcop26.org\/\">2021 United Nations Climate Change Conference<\/a> (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November - 2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a><\/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>27 June - 3 July 2022 (Monday-Sunday): <a href=\"https:\/\/www.insidethegames.biz\/articles\/1103867\/fisu-world-university-squash-new-giza\">World University Squash Championships<\/a>, New Giza.<\/p>\n<p><strong>Note to readers: <\/strong>Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\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":561392,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-561391","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1ccd73c5-7b6d-4eda-96d9-8cf71fb08b4a","teaser":"","photo_url":"https:\/\/ent.news\/2021\/4\/48.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>Enterprise FinMin plans spending boost next FY on higher tax revenues - 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\/enterprise-finmin-plans-spending-boost-next-fy-on-higher-tax-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise FinMin plans spending boost next FY on higher tax revenues\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-finmin-plans-spending-boost-next-fy-on-higher-tax-revenues\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:17:27+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/48.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\/enterprise-finmin-plans-spending-boost-next-fy-on-higher-tax-revenues\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-finmin-plans-spending-boost-next-fy-on-higher-tax-revenues\/\",\"name\":\"Enterprise FinMin plans spending boost next FY on higher tax revenues - 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