{"id":561463,"date":"2021-04-08T03:49:47","date_gmt":"2021-04-08T03:49:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=561463"},"modified":"2025-12-16T03:19:18","modified_gmt":"2025-12-16T03:19:18","slug":"imf-upgrades-egypt-budget-projections-in-latest-outlook","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-upgrades-egypt-budget-projections-in-latest-outlook\/","title":{"rendered":"IMF upgrades Egypt budget projections in latest outlook"},"content":{"rendered":"<section id=\"561465\" 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=\"561465\">\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\/08\/ramadan-covid-measures-to-be-announced-today-a-fuel-price-hike-announcement-any-day-now\/\">\r\n                            Ramadan covid measures to be announced today + a fuel price hike announcement any day now.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/ramadan-covid-measures-to-be-announced-today-a-fuel-price-hike-announcement-any-day-now\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Holy Month is now five days away.<\/p><p><strong>Look today for more information on covid restrictions that will come into play during <\/strong><strong>Ramadan.<\/strong> Health Minister Hala Zayed will hold a presser today to address measures that will be taken to limit the spread of covid-19 during the month, <a href=\"https:\/\/bit.ly\/3wE55m4\">Masrawy<\/a> says.<\/p><p><strong>Egypt will eithe<\/strong><strong>r raise or maintain fuel prices in 2Q<\/strong> due to the rise of global oil prices last quarter, an unnamed governmental source told the <a href=\"https:\/\/bit.ly\/3mzb335\">local press<\/a>. The government\u2019s fuel pricing committee will announce 2Q prices before this Saturday. Brent crude ranged between USD 50-70 per barrel during the first quarter, up from USD 37-53 in 4Q2020.<\/p><p><strong>Meanwhile, Eva and Pharco have apparently landed rights to manufacture China\u2019s <\/strong><strong>Sinovac jab. <\/strong>We have chapter and verse on the story in this morning\u2019s news well, below.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Taaleem shares <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94e97ae5-4a3e-46a4-8dca-243163201344\">popped 6% in EGX debut<\/a><\/strong>, ending the nation\u2019s IPO drought.<\/li>\n<li>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfa00ffb-5877-4b7e-a2a1-a9308f162a08\">window is open<\/a> for <strong>retail subscription to Macro Group\u2019s IPO.<\/strong><\/li>\n<li><strong>ADQ\u2019s Agthia is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad79dcc4-e48b-492b-a3fc-e706b8fcb8cc\">one step closer<\/a><\/strong><strong> to Atyab takeover. <\/strong><\/li>\n<li><strong>EFG, SFE <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d32e060-6886-4e50-912d-289c42928f40\">closing in on AIB acquisition<\/a><\/strong> + El Salhiya is on the block.<\/li>\n<\/ul><p><strong>FROM THE REGION- Crisis averted, says Abdullah:<\/strong> Jordan\u2019s King Abdullah II said yesterday the rift between himself and his half-brother, the former crown prince Hamza bin Hussein, had been \u201cnipped in the bud,\u201d according to a written statement read on Jordan TV (<a href=\"https:\/\/www.youtube.com\/watch?v=NZQ9GgWoUr8&amp;ab_channel=%D8%A7%D9%84%D8%AA%D9%84%D9%81%D8%B2%D9%8A%D9%88%D9%86%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86%D9%8AJordanTV\">watch, runtime 1:32<\/a>). The investigation into the plot is still active, Abdullah noted, adding that Hamza is with \u201chis family in his palace under my care.\u201d Hamza said last week that he had been placed under house arrest after the government claimed that he was plotting with foreign actors to destabilize the country.<\/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><a href=\"https:\/\/bit.ly\/3sS6Jyi\">Today is the deadline<\/a><\/strong><strong> for the business community <\/strong><strong>to give comment<\/strong><strong> on new draft executive regs for the Customs Act.<\/strong> 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 fees in chunks over 6-12 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.<\/p><p><strong>Further out in the legislation pipeline:<\/strong> Amendments to the VAT Act will be shipped back to the House Planning and Budgeting Committee in a few weeks after public consultations on the amendments wrap up, committee undersecretary Mostafa Salem told Enterprise. The Finance Ministry has been sitting down with industry players, including representatives from Coca Cola, PepsiCo, and Nestle for their comments on the amendments, 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>The Sovereign Fund of Egypt will issue the conditions booklet for the contract to develop <\/strong><strong>the Mogamma El Tahrir this month<\/strong>, according to CEO Ayman Soliman. The goal is for the Mogamma to be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67202e51-b4cf-476e-8612-f071182af3bc\">transformed into a multi-purpose building<\/a>.<\/p><p><strong>Inflation data<\/strong> for March will be out on or around <strong>Saturday, 10 April<\/strong>.<\/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. Lavrov\u2019s planned trip comes after expectations that Russian President Vladimir Putin would visit Egypt sometime in March did not materialize.<\/p><p><strong>Shares of Macro Group will start trading on Monday, 19 April <\/strong>in the second hotly anticipated IPO of the year. The window for retail subscriptions runs 11-15 April.<\/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\">any day now<\/a><\/strong>as the parent company prepares to go into liquidation, with officials previously saying to expect the debut in the first week of 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>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/king-abdullah-ii\/\">King Abdullah II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561466\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"561466\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/561466\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561466\" class=\"content-area-description single-story post-561466 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/SomabayEF_Enterprise_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561467\" 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=\"561467\">\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\/08\/egypt-on-surer-fiscal-ground-more-debt-relief-agreed-imf-backs-wealth-tax\/\">\r\n                            Egypt on surer fiscal ground + more debt relief agreed + IMF backs wealth tax                        <\/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\/08\/egypt-on-surer-fiscal-ground-more-debt-relief-agreed-imf-backs-wealth-tax\/\" 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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Figures in the Fund\u2019s latest <a href=\"https:\/\/ent.news\/2021\/4\/text-3.pdf\">Fiscal Monitor Report (pdf)<\/a> suggest that the outlook for Egypt\u2019s fiscal position has improved over the past six months, though debt is expected to rise at a quicker pace than before.<\/p>\n<p><strong>The budget deficit is no longer expected to widen this year:<\/strong> The IMF now sees the budget narrowing to 7.3% of GDP by the end of the current fiscal year, compared to 7.9% in FY2019-2020. In October, the Fund expected the deficit to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe09d867-dea8-4f57-9725-da9e7b6b0ecb\">climb to 8.1% of annual output<\/a> before falling back in FY2021-2022.<\/p>\n<p><strong>But there will be slower progress over the longer term:<\/strong> The deficit is now forecast to shrink to 4.2% of GDP by the middle of the decade, compared to the 3.8% projection the IMF published in October.<\/p>\n<p><strong>The primary surplus will also be bigger than previously thought<\/strong>, coming in at 1% of GDP at the end of the current fiscal year. The IMF previously saw the government generating a slender 0.4% primary balance.<\/p>\n<p><strong>But the debt load is also larger than before:<\/strong> Egypt\u2019s public debt is now projected to reach almost 93% of GDP by the end of the current fiscal year from 90.2% last year. Forecasts in October had projected the country\u2019s debt pile rising from 86.6% of GDP to 90.6% this year. Conversely, the IMF now expects debt-to-GDP to fall at a faster rate in subsequent years, coming in at 73.4% in FY2025-2026 compared to the 77% predicted in October.<\/p>\n<p><strong>Revenues to rise:<\/strong> Revenues will rise to 20.6% of GDP this year from 19.3% in FY2019-2020, and will slowly tick up to reach 21.7% by FY2025-2026.<\/p>\n<p><strong>The Fund is no longer expecting a noticeable cut back in public spending:<\/strong> It now sees spending falling to 26.9% of GDP in FY2021-2022 from 27.9% this year. The IMF in October predicted the expenditure would fall by a more dramatic three percentage points in the coming fiscal year. Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/388d4819-de8e-4a30-8c86-5a4aaaca9d4e\">said this week<\/a> that the ministry would not let up on spending, and pledged to use higher tax revenues to raise wages in the coming fiscal year.<\/p>\n<p><strong>The fiscal report comes a day after the IMF upgraded Egypt\u2019s growth forecasts in its latest <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83398725-78cf-440c-ae45-be20ca82835e\">World Economic Outlook<\/a><\/strong><strong>.<\/strong> The Egyptian economy is now expected to deliver 5.7% growth in FY2021-2022, up two percentage points from the previous forecast in October. On the flipside, the current account will widen to 4% this year before narrowing gradually to 2.5% by the middle of the decade.<\/p>\n<p style='font-size: 18px;font-weight: bold' >Breakthrough on debt relief<\/p>\n<p><strong>Struggling emerging economies are set to receive another lifeline after G20 finance <\/strong><strong>ministers yesterday agreed to boost IMF reserves by USD 650 bn<\/strong>, the group said in <a href=\"https:\/\/www.g20.org\/2nd-finance-ministers-and-central-bank-governors-meeting.html\">a statement<\/a> yesterday. Ministers also agreed to extend a debt relief moratorium introduced last year by another six months until the end of 2021. The new allocation of special drawing rights \u2014 a reserve currency used by the IMF \u2014 will enable the international lender to channel more emergency funds to developing nations struggling to cope with the economic costs of covid.<\/p>\n<p><strong>Could debt relief be conditioned on climate policy?<\/strong> The IMF and the World Bank are considering new measures to incentivize developing countries to fund climate projects that could see them being offered debt relief in return, according to <a href=\"https:\/\/www.reuters.com\/article\/us-imf-world-bank-climate-change-debt-ex\/exclusive-world-bank-imf-eye-ways-to-link-debt-relief-to-climate-change-spending-idUSKBN2BU3FO?il=0\">Reuters<\/a>. The institutions are setting up a new platform that will provide advice to low-income nations on implementing climate-friendly policy, and could offer a combination of debt relief and soft loans as incentives.<\/p>\n<p><strong>The International Cooperation Ministry wants to team up with private sector <\/strong><strong>players on sustainable development projects through green finance, <\/strong>International Cooperation Minister Rania Al Mashat said at a webinar during the IMF \/ World Bank <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/spring#:~:text=The%202021%20Spring%20Meetings%20will,Sunday%2C%20April%2011%2C%202021.&text=Spring%20Meetings%20participants%20typically%20include,550%20accredited%20civil%20society%20members.\">Spring Meetings<\/a>, which are taking place till Sunday, 11 April, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1900049920173364\">a statement<\/a>. Al Mashat pointed to the importance of private sector inclusion in the state's digital transformation plans, adding that public-private partnerships in this field play an essential role in economic growth.<\/p>\n<p style='font-size: 18px;font-weight: bold' >IMF calls for wealth taxes to pay for covid spending<\/p>\n<p><strong>What times we live in:<\/strong> The IMF has suggested that governments introduce temporary wealth taxes on companies and individuals to redistribute the cost burden of the pandemic and prevent rapidly rising inequality. \u201cTo help meet pandemic-related financing needs, policymakers could consider a temporary covid-19 recovery contribution, levied on high incomes or wealth,\u201d the fiscal monitor said.<\/p>\n<p><strong>And now <\/strong><strong>corporates<\/strong><strong> might have to kiss their tax havens goodbye:<\/strong> A US proposal to impose a minimum global corporate tax rate is picking up steam among the world\u2019s biggest economies, in a move that would \u2014 if it sees the light \u2014 effectively put an end to tax havens. The European Commission backed the proposal to set a 21% base tax rate but wants to ensure that the same rules would apply to US tech giants, which has previously been a sticking point for Washington. <a href=\"https:\/\/www.reuters.com\/article\/us-usa-treasury-yellen-eu-idUSKBN2BT1YG\">Reuters<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-07\/yellen-sees-tax-plan-reclaiming-2-trillion-in-overseas-profits?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>, and <a href=\"https:\/\/www.ft.com\/content\/35ce8c9d-d28a-49ad-b278-e7c49e06d7f9\">the Financial Times<\/a> have more.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-deficit\/\">budget deficit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/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\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/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\/rania-al-mashat\/\">Rania Al Mashat<\/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=\"561469\" 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=\"561469\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/under-pressure\/\">\r\n                            Under pressure                        <\/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\/08\/under-pressure\/\" 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\/08\/under-pressure\/')\">\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\/08\/under-pressure\/\">\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=Under pressure&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/under-pressure\/\">\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\/08\/under-pressure\/&title=Under pressure\">\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=Under+pressure+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Funder-pressure%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\/08\/under-pressure\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561469\" class=\"content-area-description single-story post-561469 post type-post status-publish format-standard hentry category-banking tag-banking tag-enterpriseam tag-finance tag-fitch-ratings 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>Egypt\u2019s banks could face further pressure on net income in 2021<\/strong> due to the lower interest rate environment and a potential rise in bad loans when the Central Bank of Egypt (CBE) lifts support measures it introduced at the onset of the pandemic, <a href=\"https:\/\/www.fitchratings.com\/research\/banks\/egyptian-banks-face-further-pressure-from-coronavirus-fallout-07-04-2021\">Fitch Ratings<\/a> said in a report yesterday. \u201cWe expect continued pressure \u2026 due to lower rates and higher loan impairment charges as borrower support measures end,\u201d the ratings agency wrote.<\/p>\n<p><strong>So far, loan quality has remained stable: <\/strong>Non-performing loans held on bank balance sheets were little changed during the pandemic, remaining at an industry average of 3.4% at the end of 3Q2020 thanks to the central bank\u2019s interest rate cuts and its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a764f777-d28d-4b56-a96e-be8f1d69f242\">debt relief initiative<\/a>.<\/p>\n<p><strong>But this could change when emergency stimulus measures are wound down:<\/strong> Fitch expects the ratio of bad loans to rise to 4% by the end of 2021 as the central bank ends its measures to support borrowers. Banks last year set aside bns on their balance sheets in the form of provisions against the possibility that covid-19 would force more borrowers to default on loans, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83ca7356-fbfb-46c9-8ef4-8aaa4a47e754\">played a key role<\/a> in a 20% drop in profits during the first half of 2020.<\/p>\n<p><strong>Over-reliance on lending to state and large borrowers is a weakness: <\/strong>\u201cWe do not expect [rising bad loans] to lead to capital erosion, but capitalization remains a credit weakness given banks\u2019 high exposure to the sovereign and large individual obligors,\u201d the report says.<\/p>\n<p><strong>Banks remained financially sound throughout the pandemic<\/strong> despite operating income from loans and core operations <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/391be5b9-acd4-4da9-9a8e-b6890b9c795d\">mostly decreasing<\/a>. This is because a large part of bank income comes from government debt, and their loans-to-deposit ratio is quite low by international standards.<\/p>\n<p><strong>FX liquidity is also exposed to external shocks<\/strong>: The sector\u2019s net foreign assets <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c65ba77-9f9e-41f6-b84d-30c20868744d\">nosedived by 45%<\/a> m-o-m at the beginning of the pandemic in 2020, when banks made USD available to foreign investors who pulled USD 18 bn out of the country in a single month during the great global covid selloff. Their positions <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c4ddfa0-d60b-4a1e-a180-9a37931c1d7c\">have been recovering<\/a> steadily since then, but remain susceptible to capital outflows.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/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=\"561470\" 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=\"561470\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/eva-pharma-pharco-to-manufacture-sinovac-in-egypt\/\">\r\n                            Eva Pharma, Pharco to manufacture Sinovac 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\/08\/eva-pharma-pharco-to-manufacture-sinovac-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\/08\/eva-pharma-pharco-to-manufacture-sinovac-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\/08\/eva-pharma-pharco-to-manufacture-sinovac-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=Eva Pharma, Pharco to manufacture Sinovac in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/eva-pharma-pharco-to-manufacture-sinovac-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\/08\/eva-pharma-pharco-to-manufacture-sinovac-in-egypt\/&title=Eva Pharma, Pharco to manufacture Sinovac 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=Eva+Pharma%2C+Pharco+to+manufacture+Sinovac+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Feva-pharma-pharco-to-manufacture-sinovac-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\/08\/eva-pharma-pharco-to-manufacture-sinovac-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561470\" class=\"content-area-description single-story post-561470 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covid-19 tag-enterpriseam tag-eva-pharma tag-joe-biden tag-sputnik-v tag-vaccines tag-vacsera 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>Pharco's BioGeneric Pharma and Eva Pharma will manufacture<\/strong> <strong>China\u2019s Sinovac vaccine<\/strong> alongside state-owned vaccine maker Vacsera, <a href=\"https:\/\/souqaldawaa.com\/__trashed-11\/\">Souq Al Dawaa<\/a>reported. The companies will locally manufacture <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03ce2265-7c1a-4c16-8f49-ea5d1489af0b\">20-60 mn doses<\/a> a year \u2014 enough to fully vaccinate between 10 and 30 mn people \u2014 after an agreement was reached with the Chinese firm this week. While it's not still known when the manufacturing will start, health ministry officials recently said it should be \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26145fd8-58c4-4b41-ad15-a0ce3c189b2f\">within a few months<\/a>.\u201d<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/352798212937464\">reported<\/a><\/strong> <strong>783 new covid-19 infections yesterday<\/strong>, up from 778 the day before. Egypt has now disclosed a total of 207,293 confirmed cases of covid-19. The ministry also reported 37 new deaths, bringing the country\u2019s total death toll to 12,290.<\/p>\n<p><strong>Are Gavi \/ Covax deliveries of AstraZeneca getting back on track?<\/strong> The Serum Institute of India will resume exports of the Oxford\/AstraZeneca vaccine in June if covid-19 cases in India decline \u201cwithout compromising the needs of our country,\u201d said Adar Poonawalla, chief executive of Serum Institute told <a href=\"https:\/\/www.ft.com\/content\/fcdffb8f-f86e-4bd9-adec-20256aeb0a07\">the Financial Times<\/a>. The world\u2019s largest vaccine manufacturer had in March stopped exporting jabs to prioritize local demand, which had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acc7d04e-ff3f-40fa-bc0a-5eec3216fdbf\">threatened to delay<\/a> developing countries' access to vaccines through the Covax program. This includes Egypt which has signed on to receive 5 mn doses through the program so far.<\/p>\n<p><strong>Astrazeneca is still under fire:<\/strong> European and British regulators have officially linked the Oxford-AstraZeneca vaccine to a rare brain blood clotting disorder and are advising that people of certain don\u2019t take the shot. The UK will now <a href=\"https:\/\/www.bbc.co.uk\/news\/health-56665517\">offer people under 30 years\u2019 old alternative vaccines<\/a> while the EU is yet to agree on a common course of action. Spain <a href=\"https:\/\/www.ft.com\/content\/a24bf793-7cbe-4335-812d-5b3c05dbe6b7\">outright banned<\/a> the use of the vaccine for under-60s while Italy is <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-astrazeneca\/eu-and-uk-regulators-still-recommend-astrazeneca-shot-despite-possible-link-to-blood-clots-idUSKBN2BU27C\">only recommending<\/a> that people under that age avoid it.<\/p>\n<p><strong>Are women at greater risk?<\/strong> The European study found that instances of blood clotting were 20 times higher in women aged under 60, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-germany-astrazenec\/women-under-60-face-higher-risk-of-rare-clotting-after-astrazeneca-shot-german-official-idUSKBN2BU29V?il=0\">Christian Bogdan<\/a>, a member of Germany\u2019s vaccine committee, told <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-germany-astrazenec\/women-under-60-face-higher-risk-of-rare-clotting-after-astrazeneca-shot-german-official-idUSKBN2BU29V?il=0\">Reuters<\/a>.<\/p>\n<p><strong>But both regulators still recommend the vaccine.<\/strong> A British government advisory group said that this is \u201cout of the utmost caution, rather than because we have any serious safety concerns,\u201d while EMA\u2019s executive director Emer Cooke noted, \u201cThe risk of mortality from covid is much greater than the risk of mortality from these rare side-effects.\u201d<\/p>\n<p><strong>How big are the risks in absolute terms? <\/strong>The EMA found a total of 222 cases of two different types of clots \u2014 in a total population of about 34 mn people who received the vaccine in the EU. That\u2019s a rate of 0.0006342857143%. Your chances of being hit by lightning in Europe? 0.0002%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eva-pharma\/\">Eva Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sputnik-v\/\">Sputnik V<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vacsera\/\">Vacsera<\/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=\"561471\" 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=\"561471\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/\">\r\n                            Sodic taps financial advisors to assess Aldar acquisition bid                        <\/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\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/\" 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\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/')\">\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\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/\">\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=Sodic taps financial advisors to assess Aldar acquisition bid&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/\">\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\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/&title=Sodic taps financial advisors to assess Aldar acquisition bid\">\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=Sodic+taps+financial+advisors+to+assess+Aldar+acquisition+bid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fsodic-taps-financial-advisors-to-assess-aldar-acquisition-bid%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\/08\/sodic-taps-financial-advisors-to-assess-aldar-acquisition-bid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561471\" class=\"content-area-description single-story post-561471 post type-post status-publish format-standard hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-real-estate tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Sodic to weigh Aldar acquisition offer: <\/strong>Our friends at Sodic have appointed unnamed financial advisors to look into Emirati real estate firm Aldar Properties\u2019 bid to acquire a majority stake in the company, the upmarket developer said in a <a href=\"https:\/\/ent.news\/2021\/4\/260845_1.pdf\">regulatory filing (pdf)<\/a>. Aldar last month submitted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65445c53-bf8c-4144-8e37-6daa4e7031c0\">a non-binding offer<\/a> to acquire at least 51% of Sodic\u2019s shares for EGP 18-19 apiece. The offer\u2019s midpoint price values the company at EGP 6.6 bn, and was at a 14% premium above Sodic shares\u2019 closing price at the time the bid was made.<\/p>\n<p><strong>Sodic\u2019s largest shareholder<\/strong> \u2014 a consortium of Act Financial, Hassan Allam Properties and Concrete Plus Engineering and Construction \u2014 <strong>has not closed the door on the bid<\/strong>, saying last month that it is \u201cexploring all possible scenarios.\u201d The consortium collectively holds more than 15% of Sodic\u2019s shares. Olayan Saudi Investment holds 14%, while the Abanumay family has 10% and Ripplewood 9%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561472\" 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=\"561472\">\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\">Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/\">\r\n                            More financial inclusion for pensioners + PayTabs, valU services coming to LuLu                        <\/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\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/\" 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\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/')\">\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\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/\">\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 financial inclusion for pensioners + PayTabs, valU services coming to LuLu&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/\">\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\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/&title=More financial inclusion for pensioners + PayTabs, valU services coming to LuLu\">\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+financial+inclusion+for+pensioners+%2B+PayTabs%2C+valU+services+coming+to+LuLu+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fmore-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu%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\/08\/more-financial-inclusion-for-pensioners-paytabs-valu-services-coming-to-lulu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561472\" class=\"content-area-description single-story post-561472 post type-post status-publish format-standard hentry category-finance tag-central-bank-of-egypt tag-e-commerce tag-efg-hermes tag-enterpriseam tag-finance tag-financial-inclusion tag-lulu-group tag-meeza tag-national-telecom-regulatory-authority tag-non-banking-financial-services tag-paytabs tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Pensioners will soon have access to \u201cnew electronic channels\u201d<\/strong> <strong>to receive and use<\/strong><strong> their monthly payments <\/strong>under an MoU the Central Bank of Egypt (CBE) signed with the National Telecom Regulatory Authority (NTRA), according to a <a href=\"https:\/\/ent.news\/2021\/4\/NTRA-CBE.pdf\">joint statement (pdf)<\/a> yesterday. The CBE-led initiative will allow more pensioners to use local card scheme Meeza and other types of prepaid cards and digital wallets offered by mobile network operators and banks. This should allow them access to more ATM machines, points of sale, online stores, utility bill payments, and QR transactions.<\/p>\n<p><strong>Egypt\u2019s cashless drive: <\/strong>The MoU comes as part of a government strategy to cut back on the use of physical money and promote e-payments. The Finance Ministry began <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/11\/govt-begins-to-roll-out-meeza-debit-cards\/\">in 2019<\/a> distributing Meeza debit cards to make state benefits available electronically to pensioners, civil servants, and subsidy recipients. Authorities also <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/21\/egypts-banks-to-roll-out-meeza-debit-cards-in-april-to-bank-account-holders\/\">made it mandatory<\/a> for government payments over EGP 500 to be paid electronically. In parallel, the CBE launched a drive to finance commercial banks\u2019 purchase and distribution of points of sale nationwide, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10f61103-513a-40cf-9866-673aa294e387\">is planning to have<\/a> 1 mn of those machines in use nationwide within three years to bring more people into the formal financial system.<\/p>\n<p><strong>IN OTHER FINANCE NEWS-<\/strong> <strong>EFG Hermes' subsidiaries PayTabs and Valu will roll out services at LuLu <\/strong><strong>Group's supermarkets across Egypt<\/strong> under a two-stage partnership between the three parties, according to <a href=\"https:\/\/ent.news\/2021\/4\/EFG-NR-valU-PayTabs-Lulu-Hypermarket-Partnership-ENG.docx.pdf\">a press release<\/a><a href=\"https:\/\/ent.news\/2021\/4\/EFG-NR-valU-PayTabs-Lulu-Hypermarket-Partnership-ENG.docx.pdf\">(pdf)<\/a>. Under the partnership, customers will be able to use Valu's installment plans through PayTabs' electronic platform at all of LuLu's physical outlets \u2014 and will be able to use them online at a later phase.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lulu-group\/\">Lulu Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/meeza\/\">Meeza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paytabs\/\">PayTabs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"561473\" 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=\"561473\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/\">\r\n                            Finance in Motion arranging USD 75 mn loan to unnamed bank                        <\/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\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/\" 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\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/')\">\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\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/\">\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=Finance in Motion arranging USD 75 mn loan to unnamed bank&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/\">\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\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/&title=Finance in Motion arranging USD 75 mn loan to unnamed bank\">\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=Finance+in+Motion+arranging+USD+75+mn+loan+to+unnamed+bank+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Ffinance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank%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\/08\/finance-in-motion-arranging-usd-75-mn-loan-to-unnamed-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561473\" class=\"content-area-description single-story post-561473 post type-post status-publish format-standard hentry category-debt-watch tag-canal-sugar tag-debt-watch tag-enterpriseam tag-finance-in-motion tag-sanad tag-saudi-fund-for-development tag-trade 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>NBFS players and renewable energy projects could soon be in line for a piece of a<\/strong><strong> USD 75 mn facility Finance in Motion is providing to an unnamed local bank<\/strong> for on-lending, Egypt country head Mohamed Morsy told <a href=\"https:\/\/bit.ly\/2Q1oQU3\">Al Mal<\/a>. The facility could be made available as soon as next month through its Green for Growth and Sanad funds. The Germany-based impact investor had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/986d1074-363a-4ccb-8008-ae073c798eb0\">earlier this year<\/a> said it expects to invest USD 100 mn into Egypt projects in 2021 through its two funds, with a focus on small-scale solar plants and energy conservation projects. Finance in Motion provides funds to banks that are on-lent to players in agriculture, low-income housing, renewable energy, with a focus on MSMEs. They also directly finance non-banking financial sector companies focused on financial inclusion.<\/p>\n<p><strong>OTHER DEBT NEWS-<\/strong> <strong>Egypt\u2019s <\/strong><strong><a href=\"http:\/\/canalsugar.com\/\">Canal Sugar Company<\/a><\/strong><strong> has signed a USD 50 mn export <\/strong><strong>financing agreement with the Saudi Fund for Development (SFD)<\/strong>, as part of the fund\u2019s contribution towards the USD 1 bn project \u2014 30% of which will be financed by company shareholders, while the remainder will come through local and international banks, according to a <a href=\"https:\/\/www.facebook.com\/CanalSugarFarm\/posts\/207883274429209\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/canal-sugar\/\">canal sugar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-in-motion\/\">Finance in Motion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sanad\/\">Sanad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-fund-for-development\/\">Saudi Fund for Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561474\" 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=\"561474\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/\">\r\n                            USD 200 mn World Bank loan to fight air pollution gets House approval                        <\/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\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/\" 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\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/')\">\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\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/\">\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=USD 200 mn World Bank loan to fight air pollution gets House approval&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/\">\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\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/&title=USD 200 mn World Bank loan to fight air pollution gets House approval\">\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=USD+200+mn+World+Bank+loan+to+fight+air+pollution+gets+House+approval+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fusd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval%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\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/82.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561475\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/usd-200-mn-world-bank-loan-to-fight-air-pollution-gets-house-approval\/82-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/82.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"82.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/82.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/82.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561474\" class=\"content-area-description single-story post-561474 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-development-finance tag-enterpriseam tag-house-of-representatives tag-ibrd tag-tenth-of-ramadan-city tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Greater Cairo could soon see fewer polluting emissions with the help of a USD 200 mn loan<\/strong> <strong>from the International Bank for Reconstruction and Development, <\/strong>greenlit by the House of Representatives' Energy and Environment Committee on Tuesday, the <a href=\"https:\/\/bit.ly\/3cWNoX9\">local press<\/a> reported. The World Bank lending arm will provide the funds for allocation towards Egypt\u2019s \u201cgreen recovery\u201d project, which will modernize air quality monitoring systems, establish safe landfills in Tenth of Ramadan City, safely eliminate dumps in Abu Zaabal, set up charging stations for electric vehicles, and support other green initiatives. The funding had been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac9abeaf-6e27-4f78-81ed-02b9635bc10d\">signed off by Cabinet<\/a>in late February following the World Bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e35f7d28-afcb-4a08-a385-b6f61b7d9708\">approval<\/a> of the loan last fall.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibrd\/\">IBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tenth-of-ramadan-city\/\">Tenth of Ramadan City<\/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=\"561476\" 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=\"561476\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/\">\r\n                            Matouk Bassiouny &#038; Hennawy names managing partner of UAE office + Arab Dairy gets a new board of directors + Schneider Electric Egypt's deputy CEO resigns                        <\/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\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/\" 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\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/')\">\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\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/\">\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=Matouk Bassiouny &#038; Hennawy names managing partner of UAE office + Arab Dairy gets a new board of directors + Schneider Electric Egypt's deputy CEO resigns&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/\">\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\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/&title=Matouk Bassiouny &#038; Hennawy names managing partner of UAE office + Arab Dairy gets a new board of directors + Schneider Electric Egypt's deputy CEO resigns\">\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=Matouk+Bassiouny+%26%23038%3B+Hennawy+names+managing+partner+of+UAE+office+%2B+Arab+Dairy+gets+a+new+board+of+directors+%2B+Schneider+Electric+Egypt%27s+deputy+CEO+resigns+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fmatouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns%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\/08\/matouk-bassiouny-hennawy-names-managing-partner-of-uae-office-arab-dairy-gets-a-new-board-of-directors-schneider-electric-egypts-deputy-ceo-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561476\" class=\"content-area-description single-story post-561476 post type-post status-publish format-standard hentry category-moves tag-arab-dairy tag-enterpriseam tag-matouk-bassiouny-hennawy tag-moves tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Arab Dairy <\/strong>has appointed <strong>El Sayed El Sayed El Gohary<\/strong> (<a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/EG\/NILX\/ADPC\/company-people\/executive-profile\/108385727\">bio<\/a>) as chairman, while <strong>Yasser Mohamed Zaki Ibrahim<\/strong> (<a href=\"https:\/\/www.marketscreener.com\/business-leaders\/Yasser-Mohamed-Zaki-Ibrahim-07S6ZC-E\/biography\/\">bio<\/a>) was named vice chairman and managing director, according to <a href=\"https:\/\/ent.news\/2021\/4\/260833_1.pdf\">an EGX disclosure (pdf)<\/a>.<\/p>\n<p><strong>Sherif Abdel Fattah<\/strong> has stepped down as deputy chairman of <strong>Schneider <\/strong><strong>Electric Egypt <\/strong>following 30 years with the multinational company, the <a href=\"https:\/\/alborsaanews.com\/2021\/04\/07\/1434263\">local press<\/a> reports. Abdel Fattah will remain a member of Schneider Electric Egypt's board of directors to advise on project management and government relations.<\/p>\n<p><strong>Jirayr Habibian<\/strong> (<a href=\"https:\/\/matoukbassiouny.com\/partners\/jirayr-habibian\/\">bio<\/a>) has been named managing partner at <strong>Matouk Bassiouny & <\/strong><strong>Hennawy\u2019s UAE<\/strong><strong> office<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/4\/Matouk-Bassiouny-Press-release-UAE-Office-New-Managing-Partner-6-April-2021.pdf\">a press release (pdf)<\/a>. Habibian has held senior roles with Investbank, Standard Chartered, and Lebanese Swiss Bank as well as law firm Squire Patton Boggs.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-dairy\/\">Arab Dairy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/matouk-bassiouny-hennawy\/\">Matouk Bassiouny &amp; Hennawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"561477\" 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=\"561477\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/\">\r\n                            Chambers Middle East law firm awards. Plus: CIB, 30 North, NBE, Youth Fencing and more                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Chambers Middle East law firm awards. Plus: CIB, 30 North, NBE, Youth Fencing and more&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/&title=Chambers Middle East law firm awards. Plus: CIB, 30 North, NBE, Youth Fencing and more\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Chambers+Middle+East+law+firm+awards.+Plus%3A+CIB%2C+30+North%2C+NBE%2C+Youth+Fencing+and+more+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fchambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/chambers-middle-east-law-firm-awards-plus-cib-30-north-nbe-youth-fencing-and-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561477\" class=\"content-area-description single-story post-561477 post type-post status-publish format-standard hentry category-kudos tag-egyptian-museum tag-enterpriseam tag-helmy tag-kudos tag-tahrir-square tag-tourism-and-antiquities-ministry tag-unesco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mabrouk to all of our lawyer friends: Youssef & Partners Attorneys<\/strong> was awarded <strong><a href=\"https:\/\/chambers.com\/events\/awards-middle-east-2021\">the 2021<\/a><\/strong><a href=\"https:\/\/chambers.com\/events\/awards-middle-east-2021\"><\/a><strong><a href=\"https:\/\/chambers.com\/events\/awards-middle-east-2021\">Chambers Middle East Award<\/a><\/strong> for Law Firm of the Year in dispute resolution in Egypt, while<strong> Helmy, Hamza & Partners<\/strong> received the accolade in banking and finance. <strong>Matouk Bassiouny & Hennawy<\/strong> took home awards for the corporate and M&A categories, the law firm said in <a href=\"https:\/\/ent.news\/2021\/4\/Matouk-Bassiouny-Hennawy-Press-Release-7-April-2021.pdf\">a press release (pdf)<\/a>. Zulficar & Partners founding partner <strong>Mona Zulficar<\/strong> also took home the <strong>Lifetime Achievement Award<\/strong>.<\/p>\n<p><strong>CIB has joined the <\/strong><strong><a href=\"https:\/\/www.unepfi.org\/climate-change\/tcfd\/\">Task Force on Climate-Related Financial Disclosures<\/a><\/strong>, becoming the first bank in Egypt to sign up to the initiative, it said in <a href=\"https:\/\/ent.news\/2021\/4\/CIB-6-apr-2021-ar.pdf\">a statement (pdf)<\/a> this week. The task force, created by the Financial Stability Board in 2015, aims to develop standardized climate risk disclosures that can be used by companies, banks and investors. More than 1.5k companies and organizations around the world have backed the project since its launch.<\/p>\n<p><strong>The National Bank of Egypt made Bloomberg\u2019s league table for syndicated loans in <\/strong><strong>Egypt<\/strong> in 1Q2021 arranging a total of 12 transactions worth a combined EGP 49 bn, the bank said in a <a href=\"https:\/\/ent.news\/2021\/4\/Press-Release-Bloomberg-Q1-2021.pdf\">statement (pdf)<\/a>. NBE was at the top of the league table for fees generated from syndicated facilities, it said, and ranked second as lead arranger and third as facility agent.<\/p>\n<p><strong>Our friends at 30 North were named the best luxury coffee brand in Egypt <\/strong>by the Luxury Lifestyle Awards, they said in a <a href=\"https:\/\/ent.news\/2021\/4\/Press-Release-Award.pdf\">statement (pdf)<\/a>. 30 North was founded in 2017 and has outlets across Cairo and on the North Coast. The company serves both retail and B2B customers from a certified coffee roasting, blending and packing facility and is the local representative of Victoria Arduino and BlueCup.<\/p>\n<p><strong>The Egyptian youth fencing team has <\/strong><strong><a href=\"https:\/\/www.egypttoday.com\/Article\/8\/100557\/Egyptian-youth-team-snatch-Gold-in-Fencing-World-championship\">won a gold medal<\/a><\/strong><strong> in the teams competition at the Junior and Cadet <\/strong><strong>World Fencing Championships<\/strong> currently taking place in Egypt. The tournament wraps up on 11 April.<\/p>\n<p><strong>Tahrir Square\u2019s Egyptian Museum has made it to the Unesco World Heritage<\/strong><strong> Center's <\/strong><strong><a href=\"http:\/\/whc.unesco.org\/en\/statesparties\/EG\">tentative list<\/a><\/strong> with the state hoping for a possible World Heritage designation in the near future, according to <a href=\"https:\/\/bit.ly\/3wMDPSG\">a statement<\/a>. The nomination was first raised by the Tourism and Antiquities Ministry in February in the wake of the ministry's plans to overhaul the more than a century-old museum, the statement said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-museum\/\">Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/helmy\/\">Helmy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tahrir-square\/\">Tahrir Square<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unesco\/\">UNESCO<\/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=\"561478\" 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=\"561478\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/561478\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561478\" class=\"content-area-description single-story post-561478 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\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=\"561479\" 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=\"561479\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/\">\r\n                            MP warns of possible conflict with Ethiopia as GERD dominates the airwaves                        <\/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\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/\" 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\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/')\">\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\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/\">\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=MP warns of possible conflict with Ethiopia as GERD dominates the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/\">\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\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/&title=MP warns of possible conflict with Ethiopia as GERD dominates the airwaves\">\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=MP+warns+of+possible+conflict+with+Ethiopia+as+GERD+dominates+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fmp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves%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\/08\/mp-warns-of-possible-conflict-with-ethiopia-as-gerd-dominates-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561479\" class=\"content-area-description single-story post-561479 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The GERD issue once again dominated the talking heads\u2019 agendas last night. <\/strong>President Abdel Fattah El Sisi\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d11e6cc7-d9ba-4f8e-bf18-4b99211a73cb\">remarks<\/a> about the failure of the latest round of talks between Egypt, Sudan and Ethiopia were all over the airwaves: Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=VorxBFi8XNE&ab_channel=AlHayahTVNetwork\">watch,runtime 3:22<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=iGinNBgRb-A\">watch, runtime: 1:39<\/a>), and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=wnogcgt2kas\">watch, runtime: 1:39<\/a>).<\/p>\n<p><strong>A key theme of the night: Ethiopia has broken its promises. <\/strong>Both Masaa DMC\u2019s Ramy Radwan and Ala Mas\u2019ouleety\u2019s Ahmed Moussa said that Ethiopian Prime Minister Abiy Ahmed has gone against <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d11e6cc7-d9ba-4f8e-bf18-4b99211a73cb\">a prior agreement<\/a> that would have ensured Egypt\u2019s share of Nile\u2019s water (watch, runtime <a href=\"https:\/\/www.youtube.com\/watch?v=D7fPZ405c7Y\">1:42<\/a> | <a href=\"https:\/\/www.facebook.com\/watch\/?v=2945185282385080\">5:11<\/a>). Then former irrigation minister Hossam El Moghazy reminded Yahduth Fi Masr viewers that Ethiopia has breached the 2015 Declaration of Principles, which included conditions for the dam's filling and operation and outlined a process by which the countries can settle disputes (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/511385686523651\">watch, runtime 3:17<\/a>).<\/p>\n<p><strong>MP Abou El Enein warns EU that conflict with Ethiopia isn\u2019t out of the question:<\/strong> Rep. Mohamed Abou El Enein\u2019s meeting with some European ambassadors yesterday also got full coverage on Ala Mas\u2019ouleety. Abou El Enein is said to have signaled there will be a direct conflict if Ethiopia proceeds with the second filling. He called on the international community to make \u201ca rapid intervention before it\u2019s too late\u201d (<a href=\"https:\/\/www.facebook.com\/watch\/?v=208030743995369\">watch, runtime 11:14<\/a>). El Sisi last week made the second filling of the dam a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a2840fd-8b01-420e-8826-6cc918bb0062\">\u201cred line\u201d<\/a> for the government, warning Addis Ababa that it would not be allowed to take a \u201csingle drop\u201d of the country\u2019s water.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/talk-shows\/\">talk shows<\/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=\"561480\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561481\" 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=\"561481\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/egypt-in-the-news-on-8-april-2021\/\">\r\n                            Egypt in the News on 8 April 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n  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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/egypt-in-the-news-on-8-april-2021\/&title=Egypt in the News on 8 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=Egypt+in+the+News+on+8+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fegypt-in-the-news-on-8-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\/08\/egypt-in-the-news-on-8-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561481\" class=\"content-area-description single-story post-561481 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-art tag-clubhouse tag-enterpriseam tag-ethiopia tag-ever-given tag-literature tag-social-media wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Suez Canal blockage is still earning us some digital ink in the foreign <\/strong><strong>press, <\/strong>with <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/ever-given-ship-pride-suez-canal-egypt\/2021\/04\/07\/0bf7dbba-96e7-11eb-8f0a-3384cf4fb399_story.html\">the Washington Post<\/a> writing that the collective effort of dislodging the MV Ever Given boosted Egyptians' national pride. Last month\u2019s blockage also gave the public insight into the huge variety and volume of goods constantly in motion across the seas, the <a href=\"https:\/\/www.wsj.com\/articles\/from-beer-to-flat-pack-furniture-suez-blockage-offers-a-global-trade-snapshot-11617739499?mod=hp_featst_pos4\">Wall Street Journal<\/a> writes.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Social audio app Clubhouse is gaining popularity in Egypt<\/strong> and other Arab countries as it provides a room to discuss off-limit issues such as honor killings and the draft personal status law that would restrict women\u2019s rights. (<a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BU1O3\">Reuters<\/a>)<\/li>\n<li><strong>Egyptian writer Alaa Al Aswany's novel, The Republic of False Truths, has b<\/strong><strong>een translated into English<\/strong>, three years after it was banned in much of the Arab world. (<a href=\"https:\/\/www.ft.com\/content\/f530a0d3-c4f2-48b9-9a08-5bae9d07c055\">The Financial Times<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/art\/\">art<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/clubhouse\/\">Clubhouse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/literature\/\">literature<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-media\/\">social media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561482\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561483\" 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=\"561483\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/taqa-arabia-establishes-water-treatment-company\/\">\r\n                            Taqa Arabia establishes water treatment company                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/taqa-arabia-establishes-water-treatment-company\/&title=Taqa Arabia establishes water treatment company\">\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=Taqa+Arabia+establishes+water+treatment+company+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Ftaqa-arabia-establishes-water-treatment-company%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\/08\/taqa-arabia-establishes-water-treatment-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561483\" class=\"content-area-description single-story post-561483 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-corruption tag-enterpriseam tag-steigenberger-hotels-and-resorts wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Qalaa Holdings\u2019 Taqa Arabia h<\/strong><strong>as established a new water treatment solutions <\/strong><strong>company <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/taqa-water\">Taqa Water<\/a><\/strong>, which will cater to the industrial, real estate, agriculture, and tourism sectors, making the company the first integrated energy and utilities provider in the region, it said in <a href=\"https:\/\/ent.news\/2021\/4\/TAQA-Water_-PRL-Eng.pdf\">a statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The<strong> Public Enterprises Ministry<\/strong> wants Chinese automobile producer <strong>Dongfeng<\/strong> to <a href=\"https:\/\/bit.ly\/3mqMpSc\">contribute 20%<\/a> of the capital to establish a planned electric vehicles company in cooperation with <strong>El Nasr Automotive<\/strong>.<\/li>\n<li><strong>Deutsche Hospitality<\/strong> has <a href=\"https:\/\/www.hoteliermiddleeast.com\/news\/125451-five-star-steigenberger-resort-opens-on-egypt-east-coast\">opened<\/a> its 409-room <strong>Steigenberger Ras Soma <\/strong><strong>Resort <\/strong>in Soma Bay on the Red Sea coast, making it Deutsche\u2019s fifteenth property in Egypt.<\/li>\n<li>The <strong>Supply Ministry<\/strong> has <a href=\"https:\/\/bit.ly\/3myxSE3\">established<\/a> its first commercial registry office in a bank at a <strong>Banque du Caire<\/strong> branch in Obour City.<\/li>\n<li><strong>Electro Cable\u2019s <\/strong>new EGP 800 mn <strong>electrical cables factory<\/strong> in Sadat City should <a href=\"https:\/\/bit.ly\/3fQ7AvU\">increase<\/a> the company\u2019s production capacity by 30% over four years.<\/li>\n<li>Former prime minister<strong> Ahmed Shafiq<\/strong> has been acquitted of siphoning off <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/408725\/Egypt\/Politics-\/Egyptian-court-acquits-former-PM-Ahmed-Shafiq-of-s.aspx\">public<\/a><a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/408725\/Egypt\/Politics-\/Egyptian-court-acquits-former-PM-Ahmed-Shafiq-of-s.aspx\">funds<\/a> while he was civil aviation minister from 2002 to 2011.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/steigenberger-hotels-and-resorts\/\">Steigenberger Hotels and Resorts<\/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=\"561484\" 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=\"561484\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/what-the-markets-are-doing-on-8-april-2021\/\">\r\n                            What the markets are doing on 8 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        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<\/a>\r\n\r\n                \n<article id=\"post-561484\" class=\"content-area-description single-story post-561484 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-ipo-watch tag-patreon tag-planet-finance tag-startups tag-vaccitech tag-venture-capital 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 British company that owns the biotechnology behind the Oxford \/ <\/strong><strong>AstraZeneca jab is going public \u2014 in the US.<\/strong> Oxford-based Vaccitech is reportedly filing for an IPO on the Nasdaq and could price the sale as early as this month, the <a href=\"https:\/\/www.ft.com\/content\/ff260c57-66f9-474b-9643-7640dc918009\">Financial Times<\/a> reports, citing unnamed sources with direct knowledge of the transaction. The plans to take the IPO across the pond is seen as a \u201closs\u201d for the UK\u2019s aspirations to become a hub for post-Brexit investments in life sciences.<\/p><p><strong>Crowdfunding platform <\/strong><strong><a href=\"https:\/\/www.patreon.com\/\">Patreon<\/a><\/strong> <strong>has tripled its valuation to USD 4 bn in a USD 155 <\/strong><strong>mn funding round<\/strong> led by US tech hedge fund Tiger Global, reflecting the increased focus of VCs on startups that cater to content creators, it said in <a href=\"https:\/\/blog.patreon.com\/the-second-renaissance-is-here\">a blog post<\/a>. Patreon, which wrapped last year <a href=\"https:\/\/blog.patreon.com\/patreon-series-e-announcement\">a USD 90 mn funding round<\/a> that <a href=\"https:\/\/www.reuters.com\/article\/us-patreon-funding\/creators-platform-patreon-valued-4-billion-in-latest-funding-round-idUSKBN2BU0CH?il=0\">reportedly<\/a> valued the company at USD 1.2 bn, would use the new financing to provide new tools for creators, underpin potential acquisitions and expand its international presence.<\/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>10,228<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: -5.7%)<\/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-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,014<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +15.3%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,033<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: +19.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,559<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +2.7%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,079<\/p>\n<\/td>\n<td>\n<p>+0.2% (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>6,885<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +6.6%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 63.09<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.52<\/p>\n<\/td>\n<td>\n<p>+2.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,741.60<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 56,315<\/p>\n<\/td>\n<td>\n<p>-2.7% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 0.4% yesterday<\/strong> on turnover of EGP 1.0 bn (28.9% above the 90-day average). Local investors were net sellers. The index is down 5.7% YTD.<\/p><p><strong>In the green: <\/strong>CI Capital (+3.1%), AMOC (+2.5%) and Telecom Egypt (+0.8%).<\/p><p><strong>In the red: <\/strong>Edita (-3.7%), SODIC (-2.6%) and GB Auto (-2.2%).<\/p><p><strong>Asian markets are flat in early trading this morning<\/strong> and futures suggest US and European markets will open in the green later today.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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\/patreon\/\">Patreon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccitech\/\">Vaccitech<\/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            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561485\" 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=\"561485\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/around-the-world-on-8-april-2021\/\">\r\n                            Around the World on 8 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\/08\/around-the-world-on-8-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\/08\/around-the-world-on-8-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\/08\/around-the-world-on-8-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=Around the World on 8 April 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/around-the-world-on-8-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\/08\/around-the-world-on-8-april-2021\/&title=Around the World on 8 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=Around+the+World+on+8+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Faround-the-world-on-8-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\/08\/around-the-world-on-8-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561485\" class=\"content-area-description single-story post-561485 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-china tag-diplomacy tag-enterpriseam tag-france tag-lebanon tag-politics tag-saad-hariri tag-sameh-shoukry tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The US is considering boycotting the Beijing Winter Olympics:<\/strong> The Biden administration is exploring a boycott of the 2022 Winter Olympics in China as one possible option to punish the country for its treatment of its ethnic Uighur minority, State Department spokesperson Ned Price <a href=\"https:\/\/www.state.gov\/briefings\/department-press-briefing-april-6-2021\/\">said<\/a> yesterday.<\/p>\n<p><strong>IN DIPLOMACY: Foreign Minister Sameh Shoukry pushed efforts to form a new <\/strong><strong>Lebanese government in a meeting with Lebanese President Michel Aoun<\/strong> in Beirut yesterday. Shoukry also met with caretaker Prime Minister Saad Hariri and House Speaker Nabih Berri, according to <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5420473108024591\">a Foreign Ministry statement<\/a>. Shoukry\u2019s visit is part of a France-led push to see Lebanon appoint an emergency cabinet that will agree to reforms and unlock international assistance needed to stave off an economic collapse.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saad-hariri\/\">Saad Hariri<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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=\"561486\" 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=\"561486\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/my-wfh-routine-ahmed-bassiouny-co-founder-and-managing-partner-at-noqood\/\">\r\n                            My WFH Routine: Ahmed Bassiouny, co-founder and managing partner at Noqood                        <\/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\/08\/my-wfh-routine-ahmed-bassiouny-co-founder-and-managing-partner-at-noqood\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Ahmed Bassiouny (<a href=\"https:\/\/www.linkedin.com\/in\/ahmed-bassiouny-12b04538?trk=org-employees_profile-result-card_result-card_full-click\">LinkedIn<\/a>), co-founder and managing partner at <a href=\"https:\/\/www.linkedin.com\/company\/noqoodeg?trk=public_profile_experience-item_result-card_subtitle-click\">Noqood<\/a>.<\/p>\n<p><strong>My name is Ahmed Bassiouny, I\u2019m 34 years old and I\u2019m the managing partner of Noqood, which I launched in 2017 with my co-founder Adham Mamdouh.<\/strong> I graduated from Alexandria University\u2019s Faculty of Commerce in 2008 and started working at ins. company Allianz while I was still in school. I started working in the banking sector after graduating, where I stayed until 2017. I passed my CFA level 1 and CFA level 2 along with Adham, and then we started Noqood.<\/p>\n<p><strong>The idea for Noqood came from what we saw as a lack of financial literacy in the market. <\/strong>We realized people didn't know much about exchange rates, credit card limits or how much foreign currency they could carry abroad, so we started working on this educational project we called Noqood, which literally translates to money in Arabic. Over time we added more components to our company, which has now grown to four main pillars.<\/p>\n<p><strong>Our financial literacy component makes a lot of financial information available to everyone<\/strong> so people can learn about things like the difference between current and savings accounts, credit cards, debits cards, where to put their money and when the best time to take out a loan is. Our second pillar is focused on banking, where we provide an overview of products and services currently available in the market that makes it easier for users to choose what best suits their needs. Our stock market services provide an aggregated technical and fundamental analysis of the market based on company filings \u2014 which we\u2019ve been working closely on with brokerage firms like EFG Hermes, Naeem, Mubasher and Pharos on. And finally, our ins. focused services bring together all the different ins. packages available in the Egyptian market from car to home ins.<\/p>\n<p><strong>We currently have around 5k visits per month with an average of three minutes spent per visit.<\/strong> This tells us that people are spending time learning something new or comparing different options. We know that we\u2019re introducing new people to the stock market, especially retail investors with small amounts of money who are looking to trade on their own online. We saw this in action during the Fawry IPO, when we noticed a lot of interest from people in Upper Egypt and Sinai investing in the stock market.<\/p>\n<p><strong>Younger people from all over the country are more willing to open bank accounts.<\/strong> I think it's easier to focus on getting younger demographics into the banking system than their parents. We can figure out more about the demographic breakdown of users based on when they apply for something using our platform.<\/p>\n<p><strong>These days I wake up at 8:30 am. I grab coffee on the way to work and make it to the office at 10 am.<\/strong> I start my day by making to-do lists and reading Enterprise. By 11 am, I\u2019m fully focused on phone calls, emails and meetings. I finish work around 7 pm and head home to see my seven-year-old daughter before her bedtime. Then I get to some unfinished business or meet up with my co-founder Adham. I like to see my friends at least once a week. Fridays and half of my Saturdays are for family time; the other half of my Saturday is dedicated to work.<\/p>\n<p><strong>Every day I'm looking for new clients and new sales.<\/strong> Right now, we\u2019re trying to expand and secure more partnerships with banks and financial institutions. In 2020 we worked on a slightly different type of project with Emirates NBD where we were asked to provide quality leads for their asset campaign. They were looking to sell loans to unbanked clients who we managed to connect them with.<\/p>\n<p><strong>2020 was a really tough year for everyone.<\/strong> Our work mainly depends on third parties like banks and brokerage companies, which was a problem at first because these are very large institutions with slow decision making processes, especially when it comes to third party agreements. So at the start of the pandemic there was a high level of uncertainty everywhere and things just paused for a moment. But after some time had passed I think people started to realize the importance of the internet and doing things remotely.<\/p>\n<p><strong>I don't think full WFH is here to stay.<\/strong> We moved to WFH last March, but now it's a flexible schedule. We have daily phone calls, a WhatsApp group and Zoom meetings and at least one in-person meeting a week. I personally prefer in-person interactions though. Working in a team with other people drives you to work. After a while, staying at home can become boring and I think there\u2019s a desire now to go back to the office even if it's once or twice a week.<\/p>\n<p><strong>We\u2019re waiting for the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4da67185-faac-4351-a33d-5c9fc7718ddd\">new fintech law<\/a><\/strong><strong> to be passed to give us more space to move. <\/strong>Right now our business depends on a lot of external factors and our goal is to reach a point of less dependence on large banks. We want to be a place that clients trust to give them an independent overview of the market with no bias to any particular financial institution. For the year ahead we\u2019re working on a new incremental savings project, which I think could really be a breakthrough for us.<\/p>\n<p><strong>I like football and fishing.<\/strong> I\u2019m a huge Al Ahly fan and I catch all their matches with my uncle but it's been some time since I've gone fishing. For the past year it's been entirely work and family. This year I think I\u2019ll be focusing on getting some consistent exercise and reading incorporated into my schedule.<\/p>\n<p><strong>I really believe in just focusing on doing your best consistently.<\/strong> All you can really control is how committed you are \u2014 and the rest is up to fate.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561488\" 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=\"561488\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">17<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/\">\r\n                            World\u2019s largest sovereign wealth fund is getting serious about renewables                        <\/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\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/\" 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\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/')\">\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\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/\">\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=World\u2019s largest sovereign wealth fund is getting serious about renewables&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/\">\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\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/&title=World\u2019s largest sovereign wealth fund is getting serious about renewables\">\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=World%E2%80%99s+largest+sovereign+wealth+fund+is+getting+serious+about+renewables+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F08%2Fworlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables%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\/08\/worlds-largest-sovereign-wealth-fund-is-getting-serious-about-renewables\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561488\" class=\"content-area-description single-story post-561488 post type-post status-publish format-standard hentry category-on-your-way-out tag-enterpriseam tag-norway tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Norway\u2019s USD 1.3 tn sovereign wealth fund has taken the plunge into renewables<\/strong> after signing a USD 1.6 bn agreement Danish energy company Orsted that will see it own 50% of its offshore wind farms Borssele 1 and 2 in the Netherlands, the <a href=\"https:\/\/www.nbim.no\/en\/the-fund\/news-list\/2020\/first-investment-in-renewable-energy-infrastructure\/\">fund said yesterday<\/a>. The direct investment is the first of its kind for the world\u2019s largest sovereign wealth fund which is at the forefront of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4df8b031-45bc-4758-9efa-2670615cc312\">a growing wave<\/a> of interest from sovereign wealth funds in green investments. Norges Bank has so far earmarked a massive USD 12 bn of investments for large scale renewable projects in North America and Europe over the next two years and wants to avoid having \u201ctoo many assets\u201d the fund\u2019s head of renewable infrastructure, Boerge Sivertsen, said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/norway\/\">Norway<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561489\" 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\/08\/your-essential-business-calendar-on-8-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561489\" class=\"content-area-description single-story post-561489 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>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>10 April (Saturday): <a href=\"https:\/\/drive.google.com\/drive\/folders\/1xX6TL5WkkEUM25rAUoj5xeqOXGCXrdRq\">Techne Drifts Grand Finale<\/a>, New Greek Campus, Mall of Arabia, Cairo, Egypt.<\/p>\n<p>11-15 April (Sunday-Thursday): Retail subscription period for Macro\u2019s IPO.<\/p>\n<p>11 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>12 April (Monday): First day of Ramadan (TBC).<\/p>\n<p>19 April (Monday): Shares of Macro start trading on the EGX in the year\u2019s second IPO.<\/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\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":561464,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-561463","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0f4fa4a3-f681-43c2-ba09-2519fbeff22f","teaser":"","photo_url":"https:\/\/ent.news\/2021\/4\/76.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>IMF upgrades Egypt budget projections in latest outlook - 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\/imf-upgrades-egypt-budget-projections-in-latest-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF upgrades Egypt budget projections in latest outlook\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-upgrades-egypt-budget-projections-in-latest-outlook\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:19:18+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\/76.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\/imf-upgrades-egypt-budget-projections-in-latest-outlook\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-upgrades-egypt-budget-projections-in-latest-outlook\/\",\"name\":\"IMF upgrades Egypt budget projections in latest outlook - 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