{"id":561535,"date":"2021-04-12T03:47:39","date_gmt":"2021-04-12T03:47:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=561535"},"modified":"2025-12-16T03:21:04","modified_gmt":"2025-12-16T03:21:04","slug":"is-cleopatra-hospitals-throwing-its-hat-in-the-ring-for-alexandria-medical-services","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/is-cleopatra-hospitals-throwing-its-hat-in-the-ring-for-alexandria-medical-services\/","title":{"rendered":"Is Cleopatra Hospitals throwing its hat in the ring for Alexandria Medical Services?"},"content":{"rendered":"<section id=\"561537\" 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=\"561537\">\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\/12\/ramadan-starts-tomorrow-lavrov-in-town-today-iran-alleges-nuclear-terrorism\/\">\r\n                            Ramadan starts tomorrow; Lavrov in town today; Iran alleges \u201cnuclear terrorism\u201d                        <\/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\/12\/ramadan-starts-tomorrow-lavrov-in-town-today-iran-alleges-nuclear-terrorism\/\" 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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Lavrov in town today; Iran alleges \u201cnuclear terrorism\u201d\">\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=Ramadan+starts+tomorrow%3B+Lavrov+in+town+today%3B+Iran+alleges+%E2%80%9Cnuclear+terrorism%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Framadan-starts-tomorrow-lavrov-in-town-today-iran-alleges-nuclear-terrorism%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\/12\/ramadan-starts-tomorrow-lavrov-in-town-today-iran-alleges-nuclear-terrorism\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561537\" class=\"content-area-description single-story post-561537 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-iran tag-israel tag-ramadan tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Ramadan Kareem, y\u2019all:<\/strong> Dar Al Ifta <a href=\"https:\/\/www.facebook.com\/EgyptDarAlIfta\/posts\/4522360517793695\">confirmed last night<\/a> that Tuesday will be the first day of Ramadan. We wish all of you a fantastic, relaxing month with family and friends.<\/p><p><strong>So, when do we eat?<\/strong> Maghreb prayers are at 6:21pm in the capital city tomorrow. You\u2019ll have until 3:59am to finish sohour tonight.<\/p><p><strong>As a reminder:<\/strong> Bank hours will run 9:30am-1:30pm through the holy month (9am to 2pm for staff), while the EGX is also on shorter hours, with the opening bell at 10am and last trades by 1:30pm.<\/p><p><strong>***CATCH UP QUICK<\/strong> on the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Macro IPO postponed <\/strong><strong>until fall<\/strong><strong>:<\/strong> Macro Group has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\">pushed back plans<\/a> for an April IPO on the EGX despite strong appetite from international institutional investors, due to concerns about \u201cthe market\u2019s capacity to absorb multiple offerings\u201d following <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94e97ae5-4a3e-46a4-8dca-243163201344\">Taaleem\u2019s debut<\/a> on the bourse last week and as IDH plans to pull off the country\u2019s first technical listing. The decision came after the company consulted regulatory authorities, it said.<\/li>\n<li><strong>Economic reform program 2.0:<\/strong> Planning Minister Hala El Said has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d546405-7581-4176-abf2-90acec8409e8\">revealed more details<\/a> about the second round of the government\u2019s economic reform program.<\/li>\n<li><strong>Operation Mogamma Facelift: <\/strong>The Sovereign Fund of Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f302005a-4921-4dbb-8223-bea106883cf9\">expects to ink<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f302005a-4921-4dbb-8223-bea106883cf9\">contracts<\/a> by 3Q2021 with a private sector partner to repurpose the Mogamma Tahrir.<\/li>\n<\/ul><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>Russian Foreign Minister Sergey Lavrov <\/strong><strong><a href=\"https:\/\/twitter.com\/Rusembegypt\/status\/1381247083345281029\">is in town today<\/a><\/strong> <strong>for talks with President Abdel <\/strong><strong>Fattah El Sisi<\/strong> to discuss the latest developments on the stalled GERD talks. Lavrov\u2019s visit comes after expectations that Russian President Vladimir Putin would visit Egypt sometime in March did not materialize. The latest round of ministerial negotiations between Egypt, Sudan, and Ethiopia over the dam <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fed1a86a-7b61-41be-828c-d1a714e4de03\">last week<\/a> ended in yet another stalemate.<\/p><p><strong>Resuming Russian flights to Red Sea resorts also high on the agenda:<\/strong> \u201cWe are looking forward to having flights from Russia to the Egyptian tourist areas resumed,\u201d Shoukry <a href=\"https:\/\/tass.com\/society\/1276581\">told Russian news agency Tass<\/a> ahead of the meeting. \u201cWe have done our utmost to reach the top security level at Egypt\u2019s airports and in the resorts.\u201d Russia has maintained a ban on direct flights to Red Sea resort towns since the Metrojet crash in the Sinai in 2015.<\/p><p><strong>Meanwhile, Egypt and Sudan are getting closer on more levels:<\/strong> Finance Minister Mohamed Maait is in Khartoum for a second day. He\u2019s meeting with central bank officials as well as the Sudanese ministers of transport, finance, and planning as part of Egypt\u2019s efforts to strengthen bilateral relations and support Sudan\u2019s economic development, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/photos\/a.825570437621323\/1903304823181207\/\">statement<\/a>.<\/p><p><strong>THE BIG STORY INTERNATIONALLY-<\/strong><\/p><p><strong>An Iranian nuclear facility has been sabotaged in an act Tehran has labelled \u201cnuclear <\/strong><strong>terrorism.\u201d<\/strong> The head of the country\u2019s nuclear authority said the underground Natanz enrichment facility had suffered a blackout, a day after the government <a href=\"https:\/\/www.cnbc.com\/2021\/04\/10\/iran-testing-advanced-nuclear-centrifuge-that-would-allow-faster-uranium-enrichment.html\">announced<\/a> it had begun tests on a new advanced centrifuge that could allow it to enrich uranium more quickly. This comes a few days after world powers met in Vienna for talks focused on bringing Iran back into compliance with the 2015 nuclear pact and persuading the US to drop the Trump administration's economic sanctions. Everyone from the <a href=\"https:\/\/www.nytimes.com\/2021\/04\/11\/world\/middleeast\/iran-nuclear-natanz.html\">NYT<\/a> and <a href=\"https:\/\/apnews.com\/article\/middle-east-iran-358384f03b1ef6b65f4264bf9a59a458\">the AP<\/a> to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-11\/iran-says-power-disruption-caused-incident-at-nuclear-facility?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-56708778\">the BBC<\/a> has the story.<\/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>Amendments to the VAT Act will be shipped back to the House Planning and Budgeting <\/strong><strong>Committee in a few weeks<\/strong> after public consultations on the amendments wrap up, committee undersecretary Mostafa Salem told us. 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>Among the other deadlines and events you need to have your eye on this month:<\/strong><\/p><ul>\n<li><strong>EBRD President Odile Renaud-Basso could visit Egypt later this month<\/strong>, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2308519\">Al Masry<\/a><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2308519\">Al Youm<\/a> reported this weekend following a meeting with Egypt\u2019s ambassador to the UK Tarek Adel. This would be her first official visit to Egypt since she was appointed to head the bank in November.<\/li>\n<li><strong>More information on the new construction licenses + building code will be made <\/strong><strong>public by this Thursday, 15 April<\/strong> to explain the details of the new system that will hand out construction licenses.<\/li>\n<li><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 <\/strong><strong>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>.<\/li>\n<li>The Central Bank of Egypt will meet to discuss interest rates on<strong> Thursday, 29 April<\/strong>.<\/li>\n<\/ul><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> Egypt\u2019s startup ecosystem \u2015 like those throughout the world \u2015 is closely linked to universities. Institutional support is a core factor driving our entrepreneurship movement. Since the first university-based startup incubator was founded in 2013, similar programs have been launched inside and outside Cairo, and more universities are leading general awareness-raising about entrepreneurship and teaching it as an academic discipline. Today we look at how university programs are fostering entrepreneurship and supporting students to launch their own startups.<\/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\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramadan\/\">Ramadan<\/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=\"561538\" 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=\"561538\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/561538\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561538\" class=\"content-area-description single-story post-561538 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\/2\/SOMA-ENTERPRISEACT-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=\"561539\" 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=\"561539\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/red-hot\/\">\r\n                            Red hot                        <\/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\/12\/red-hot\/\" 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\/12\/red-hot\/')\">\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\/12\/red-hot\/\">\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=Red hot&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/red-hot\/\">\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\/12\/red-hot\/&title=Red hot\">\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=Red+hot+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fred-hot%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\/12\/red-hot\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/112.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561540\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/red-hot\/112-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561539\" class=\"content-area-description single-story post-561539 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-abu-dhabi-commercial-bank tag-alexandria-medical-services tag-ci-capital tag-cleopatra-hospitals-group tag-efg-hermes tag-enterpriseam tag-healthcare tag-ma-watch tag-mabaret-al-asafra-hospitals tag-prime-capital tag-tana-africa-capital tag-zilla-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>T<\/strong><strong>he bidding war for Alexandria Medical looks to be heating. <\/strong>EGX-listed Cleopatra Hospitals Group (CHG) is now reportedly throwing its hat in the ring for Abu Dhabi Commercial Bank\u2019s (ADCB) 51.5% stake in Alexandria Medical Services, <a href=\"https:\/\/bit.ly\/326sNt6\">Al Mal<\/a> reports, citing unnamed sources it says have direct knowledge of the transaction.<\/p>\n<p><strong>Ain\u2019t nobody talking:<\/strong> Representatives of CHG as well as of the investment banks involved \u2014 EFG Hermes and CI Capital \u2014 were either unavailable or declined to comment. Alex Medical neither confirmed nor denied the news, saying in <a href=\"https:\/\/ent.news\/2021\/4\/Alex-Medical-disclosure-04-11-21.pdf\">a regulatory filing (pdf)<\/a> it has no information on CHG\u2019s apparent intention to bid.<\/p>\n<p><strong>This isn\u2019t the first time CHG has been linked with Alex Medical:<\/strong> Cleo <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2887e3f2-62ad-4927-8d19-e449d67d15cc\">publicly denied<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2887e3f2-62ad-4927-8d19-e449d67d15cc\">interest<\/a> in Alex Medical last year after reports in the press claimed it was considering making a bid.<\/p>\n<p><strong>A bid would be wholly consistent with Cleo\u2019s growth strategy:<\/strong> CHG has been on an acquisition tear in recent years, most recently announcing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a1bb131c-3141-4fbe-a713-30943533e699\">a mega-merger<\/a> with Alameda Healthcare Group that will see CHG and Alameda\u2019s Egypt assets merge to become the largest private-sector healthcare group by a wide margin. The agreement, which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f49a0bad-84a7-49f3-b20e-68c1976ec30b\">announced in December<\/a>, is expected to close in June. CHG also locked down a 60% stake in Bedaya Hospital with a business transfer agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31d9479c-6da0-4c9c-9212-833fc6ba94b4\">last September<\/a> and acquired Queens and El Katib hospitals in 2019.<\/p>\n<p><strong>Speed Medical has put in a bid<\/strong>, confirming in <a href=\"https:\/\/ent.news\/2021\/4\/SPMD-11-04-2021.pdf\">a disclosure (pdf)<\/a> yesterday that its consortium with Saudi\u2019s Tawasol Holdings (already a 26% shareholder in Alex Medical) and Sharif El Akhdar\u2019s <a href=\"https:\/\/www.limevest.com\/\">LimeVest<\/a> has made an offer to Alex Medical\u2019s advisor, CI Capital. The consortium <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f677a9d-e35c-49ee-89a3-2aba218f6d67\">reportedly reached out<\/a> to ADCB back in January to discuss a transaction. Alex Medical <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0d6b7d-f168-4ce8-9ab7-fc3e80efa7d2\">confirmed<\/a> the consortium was interested in submitting an offer to purchase the company\u2019s shares at EGP 38.09 apiece.<\/p>\n<p><strong>Who else is in the running?<\/strong> Reports in the local press <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32464677-86e4-46cf-8bd1-d46f985c44a4\">last month<\/a> suggested the Mabaret Al Asafra-Tana consortium would submit a bid to acquire 100% of the firm before the end of March. Alex Medical <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a44e789-f9c8-4c3f-a9f5-66c03de35797\">denied the news<\/a> a week later, claiming that it was unaware of the potential takeover bid, but Al Mal\u2019s sources yesterday seemed to confirm the existence of a bid, telling the newspaper that the consortium had valued Alex Medical at more than EGP 650 mn.<\/p>\n<p><strong>Advisors: <\/strong>EFG Hermes is acting as CHG's financial advisor, while Arqaam Capital is advising the Mabaret Al Asafra-Tana consortium. Zilla Capital is advising Mabaret Al Asafra's shareholders. Prime Capital is advising to the Tawasol-Speed Medical consortium. CI Capital is the sell-side advisor.<\/p>\n<p><em>CORRECTION- 12 April 2021<\/em><\/p>\n<p><em>An earlier version of this story incorrectly said Zilla Capital is advising the Mabaret Al Asafra-Tana consortium.<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-medical-services\/\">Alexandria Medical Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mabaret-al-asafra-hospitals\/\">Mabaret Al Asafra Hospitals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-capital\/\">Prime Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tana-africa-capital\/\">Tana Africa Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zilla-capital\/\">Zilla 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=\"561541\" 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=\"561541\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/questions-about-sinovac-sinopharm-protection-rates\/\">\r\n                            Questions about Sinovac, Sinopharm protection rates                        <\/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\/12\/questions-about-sinovac-sinopharm-protection-rates\/\" 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\/12\/questions-about-sinovac-sinopharm-protection-rates\/')\">\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\/12\/questions-about-sinovac-sinopharm-protection-rates\/\">\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=Questions about Sinovac, Sinopharm protection rates&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/questions-about-sinovac-sinopharm-protection-rates\/\">\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\/12\/questions-about-sinovac-sinopharm-protection-rates\/&title=Questions about Sinovac, Sinopharm protection rates\">\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=Questions+about+Sinovac%2C+Sinopharm+protection+rates+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fquestions-about-sinovac-sinopharm-protection-rates%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\/12\/questions-about-sinovac-sinopharm-protection-rates\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561541\" class=\"content-area-description single-story post-561541 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-house-of-representatives tag-moustafa-madbouly tag-ramadan tag-saudi-arabia tag-sinopharm tag-sinovac tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Sinopharm and Sinovac \u2014 two vaccines Egypt is relying on in its inoculation <\/strong><strong>drive \u2014 \u201cdon\u2019t have very high protection rates\u201d against the virus the causes covid-19<\/strong>, director of the China Centers for Disease Control Gao Fu said at a presser, according to <a href=\"https:\/\/apnews.com\/article\/beijing-immunizations-chengdu-coronavirus-pandemic-china-675bcb6b5710c7329823148ffbff6ef9\">the Associated Press<\/a> reports. The country\u2019s top disease control body is now considering the use of different vaccines with different \u201ctechnical lines\u201d and is also mulling mixing its existing jabs to make them more effective, Gao added.<\/p>\n<p><strong>The Sinovac shot, of <\/strong><strong>which Egypt <\/strong><strong>plans to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0aed177e-6073-45e7-b6d9-4d028344fab2\">produce 80 mn doses<\/a><\/strong><strong>each year through state-owned<\/strong><strong> Vacsera, is well below the Sinopharm jab's efficacy rate:<\/strong> Sinovac was <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-brazil-coronavirus-idUSKBN29H2CE\">reportedly found<\/a> to be just 50.4% effective at preventing symptomatic infections in a Brazilian trial earlier this year \u2014 barely meeting the threshold for regulatory approval and much lower than the initially reported efficacy rate. Egypt has so far received 680k doses of Sinopharm and is expected to get its hands on an additional 900k-1 mn doses of the jab in the coming days. Sinopharm has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03ce2265-7c1a-4c16-8f49-ea5d1489af0b\">claimed a 79% efficacy rate<\/a>.<\/p>\n<p><strong>Next in line for jabs here at home: MPs, who are expected to get vaccinated this week <\/strong>after Prime Minister Moustafa Madbouly <a href=\"https:\/\/bit.ly\/3mBx5SV\">signed off<\/a> on their eligibility, along with their immediate families, Parliamentary Affairs Minister Alaa Fouad said during a plenary session yesterday, <a href=\"https:\/\/bit.ly\/3d5ZvBc\">Masrawy<\/a> reports. Rep. Mostafa Bakry had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26145fd8-58c4-4b41-ad15-a0ce3c189b2f\">previously proposed<\/a> that the entire House of Representatives go on recess until members are inoculated, after 15 MPs were infected.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/356039265946692\">reported<\/a><\/strong><strong> 812 new covid-19 infections yesterday<\/strong>, up from 801 the day before. Egypt has now disclosed a total of 210,489 confirmed cases of covid-19. The ministry also reported 40 new deaths, bringing the country\u2019s total death toll to 12,445.<\/p>\n<p><strong>Saudi Arabia will allow (limited) Ramadan-evening Taraweeh prayers in the two<\/strong><strong> Grand Mosques in Mecca and Medina<\/strong>, according to <a href=\"https:\/\/gph.gov.sa\/index.php\/ar\/component\/k2\/item\/2739-2021-04-11-11-57-39\">a statement<\/a>. The Taraweeh prayers in the two mosques will be capped to five Tasleemat, with strict precautionary measures in place to curb the spread of covid-19, the statement said.<\/p>\n<p><strong>Pfizer and BioNTech\u2019s covid-19 vaccine could be less effective against the South <\/strong><strong>Africa variant than previously thought<\/strong>, according to the real-world study in Israel that allowed the country to roll out its vaccination program at record speed. The study \u2014 the results of which may not be properly indicative because of the small sample size and other limitations \u2014 found the prevalence of the variant to be eight times higher in vaccinated than unvaccinated people, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-israel-study\/south-african-variant-can-break-through-pfizer-vaccine-israeli-study-says-idUSKBN2BX0JZ\">Reuters<\/a> reports. \u201cThis means that the South African variant is able, to some extent, to break through the vaccine\u2019s protection,\u201d Tel Aviv University professor Adi Stern 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\/covid-19\/\">covid-19<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramadan\/\">Ramadan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinopharm\/\">Sinopharm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561542\" 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=\"561542\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/egypt-mena-to-face-higher-financing-needs-post-covid-imf\/\">\r\n                            Egypt + MENA to face higher financing needs post-covid -IMF                        <\/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\/12\/egypt-mena-to-face-higher-financing-needs-post-covid-imf\/\" 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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Egypt is classified among the region\u2019s emerging markets whose average public gross financing needs in 2021-2022 are expected to reach 37% of GDP. The IMF is concerned that this could cut into the ability of governments to fund programs designed to get their economies past covid \u2014 and that it could see the private sector have less access to credit as banks plow deposits into lower-risk state paper. <a href=\"https:\/\/ent.news\/2021\/4\/IMF-MENACA-outlook-2021.pdf\">Tap \/ click here to read the full report (pdf)<\/a>.<\/p>\n<p><strong>The IMF revised its 2021 growth expectations for MENA upwards to 4% <\/strong>from 3.1% previously, a sharp rebound from last year\u2019s 3.4% contraction. The IMF last week<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83398725-78cf-440c-ae45-be20ca82835e\">cut slightly its growth expectations for Egypt<\/a> this fiscal year to 2.5% <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307c82aa-8655-4348-9cdd-bc0c68450f60\">from 2.8%<\/a> but upped its FY2021-2022 projection to 5.7%from 5.5%. Egypt reports its GDP figures using the state\u2019s fiscal year, which runs from July to June.<\/p>\n<p><strong>Financing needs for the region are forecast to hit USD 919 bn in<\/strong><strong> 2021 and 2022<\/strong>, remaining above an average 15% of GDP for most emerging MENA economies, the fund added. For the wider MENA and Central Asia region, the IMF expects financing needs to come in at USD 1.1 tn in 2021 and 2022, which is at least USD 300 bn more than in 2018 and 2019.<\/p>\n<p><strong>Rollover and refinancing risks are higher in Egypt than elsewhere in the region,<\/strong> given that, at 37% of GDP, we have one of the highest public financing needs in the region and our higher-than-average rate of domestic amortization, the IMF says. External amortizations are at \u201cmanageable levels,\u201d but the median domestic amortization is high at some 10% of GDP a year, and Egypt\u2019s rate exceeds this median at 15% or higher, the lender adds.<\/p>\n<p><strong>The IMF also wishes Egyptian banks were lending more to the private sector, and less to the state: <\/strong>Egypt\u2019s banks are highly exposed to the sovereign, with nearly 45% of bank lending going out to the government, and this has increased throughout the pandemic, the fund said. \u201cSuch an overexposure is detrimental for domestic debt market development, as well as for the government and the private sector to secure financing at the lowest possible cost among a diversified pool of creditors.\u201d We had more on this <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc128fd6-a4af-441b-a5d1-969abb33b838\">last week<\/a>.<\/p>\n<p><strong>Egypt has been able to push ahead with reform despite the pandemic. <\/strong>The country, along with others that have \u201ckept the course,\u201d now needs to shift its focus to \u201cgrowth-friendly, medium-term fiscal frameworks through which everyone pays their fair share.\u201d<\/p>\n<p><strong>How well a recovery pans out will largely depend on the vaccination program, which is slowly gathering pace in Egypt. <\/strong>The fund classifies us among the region\u2019s \u201cslow inoculators,\u201d which rolled out programs but have had limited coverage and aren\u2019t expected to vaccinate a significant portion of their populations before mid-2022. By contrast, \u201cearly inoculators\u201d including the GCC and Morocco are racing ahead with vaccinations. \u201cThe recovery has started, but it has started on a divergent path,\u201d Jihad Azour, the IMF\u2019s regional director tells <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-11\/mideast-two-year-financing-needs-rise-to-919-billion-imf-says?srnd=premium-middle-east\">Bloomberg<\/a>. \u201cOur first message is countries need to accelerate vaccinations, give it the first priority. Regional cooperation is welcome.\u201d<\/p>\n<p><strong>Region-wide, fiscal consolidation should help: <\/strong>\u201cWith the recovery underway, fiscal balances are expected to improve across the region, because of higher revenues and the expiration of pandemic-related measures,\u201d the IMF said in the report. Recovering economies will also likely allow governments to resume fiscal consolidation programs in some countries with high debt levels including Egypt, Iraq, Jordan, Oman, and Pakistan, it added. Meanwhile, central banks in Egypt and other countries with flexible exchange rate regimes should remain accommodative in their policy approach, but only within \u201cwell-anchored inflation expectations,\u201d it suggests.<\/p>\n<p><strong>Other key points made in the report:<\/strong><\/p>\n<ul>\n<li><strong>Fiscal deficits among MENA countries widened to 10.1% of GDP in 2020<\/strong>, up from 3.8% in 2019.<\/li>\n<li><strong>Food prices will remain under pressure in 2021<\/strong>, with the IMF\u2019s food price index forecast to rise by 14%.<\/li>\n<li><strong>Public sector reforms are much-needed across the region <\/strong>to provide more scope for the private sector to grow and \u201censure fiscal sustainability.\u201d<\/li>\n<li><strong>There\u2019s room for governments to close up to one third of the gap in the region\u2019s Human Development Index <\/strong>by working on improving the efficiency of their welfare spending, without needing to increase spending further.<\/li>\n<\/ul>\n<p><strong>The IMF\u2019s regional outlook update comes a few days after the lender released its updated World Economic Outlook, <\/strong>which pointed out that advanced economies, where vaccine programs are generally faster, are mostly expected to rebound to pre-covid growth in 2022, while developing countries where those programs lag are unlikely to reach that point before \u201cwell into 2023.\u201d We had coverage on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83398725-78cf-440c-ae45-be20ca82835e\">last week\u2019s report here<\/a>.<\/p>\n<p><strong>OTHER ECONOMY NEWS-<\/strong><\/p>\n<p><strong>Remittances from Egyptians living abroad dipped slightly in January 202<\/strong><strong>1<\/strong><strong> to USD 2.54 bn<\/strong>, down from USD 2.65 bn during the same month last year, according to the <a href=\"https:\/\/ent.news\/2021\/4\/January-remittanes.pdf\">Central Bank of Egypt (pdf)<\/a>. Remittances grew 11% y-o-y during the first seven months of the fiscal year to USD 18.1 bn, compared to USD 16.3 bn during the same period of FY2019-2020. Remittance inflows had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9026fa43-ed04-4d8d-bed4-2b429442b37b\">increased 10.5% y-o-y in 2020<\/a>, reaching USD 29.6 bn, despite the covid-19 induced shocks to many GCC economies where the majority of Egyptian expats are based.<\/p>\n<p><strong>Our covid-19 performance, in numbers:<\/strong> Egypt\u2019s overall trade deficit narrowed 9% y-o-y to reach USD 42 bn in 2020, from USD 45.9 bn in 2019, according to an infographic <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1903263859851970\">Cabinet<\/a> released yesterday recapping key economic figures and indicators in 2020. Exports fell almost 10% y-o-y to USD 27.6 bn last year from USD 30.5 bn in 2019, while imports slid almost 9% y-o-y to USD 69.6 bn. Fuel and oil exports accounted for the lion\u2019s share of exports by value, totaling USD 4.4 bn.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561544\" 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=\"561544\">\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\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/the-hangover\/\">\r\n                            The hangover                        <\/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\/12\/the-hangover\/\" 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\/12\/the-hangover\/')\">\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\/12\/the-hangover\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The hangover&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/the-hangover\/\">\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\/12\/the-hangover\/&title=The hangover\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+hangover+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fthe-hangover%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\/12\/the-hangover\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561545\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/the-hangover\/115-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561544\" class=\"content-area-description single-story post-561544 post type-post status-publish format-standard has-post-thumbnail hentry category-suez-canal tag-asia tag-enterpriseam tag-europe tag-ever-given tag-logistics tag-maersk tag-maritime tag-suez-canal tag-supply-chain wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The<\/strong><strong> Ever Given may have been dislodged in under a week, but the effects will be <\/strong><strong>felt for months:<\/strong> The disruption caused to US and European supply chains by the blocking of the Suez Canal last month may not be resolved until 3Q2021, CEO of German shipping company Hapag-Lloyd Rolf Habben Jansen tells <a href=\"https:\/\/www.ft.com\/content\/de6d56f6-699e-49ee-b71a-fac29ffb3687\">the Financial Times<\/a>. Several shipping companies tell the salmon-colored paper that the blockage will have severe knock-on effects on international shipping and logistics, effects that will only be felt when Asian and European ports are faced with a sudden influx of ships in the coming days and weeks. The six-day blockage of the canal by the Ever Given left <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/935ddc66-e2ae-4285-8fa5-84cdeb5514a0\">more than 400 container ships<\/a> idled off the coast of Egypt. It took six days for all of the ships to pass when the canal was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54cf3cc5-7477-4fef-8c7f-c25f98756b04\">finally unblocked on 29 March<\/a>.<\/p>\n<p><strong>The world\u2019s largest shipping line isn\u2019t quite so bearish \u2014 but it\u2019s still forecasting several more weeks of disruption:<\/strong> We might need to wait until the middle of the second quarter before supply chains begin to normalize, according to Lars Mikael Jensen, head of global ocean network at Maersk. \u201cWe will see ripple effects continuing into the second half of May,\u201d he tells the salmon-colored paper. \u201cThe best [case scenario] is we will see a normalization in Europe around the second quarter \u2014 towards the back end of the quarter,\u201d with the US returning to normal after that.<\/p>\n<p><strong>Europe and Asia will feel the blow in different ways: <\/strong>In Asia, shippers are trying to contain the situation when the delayed vessels start hitting the next load ports. Maersk has reopened short-term cargo bookings from Asia after suspending them amid the closure. The situation in northern Europe is slightly more urgent, according to Jansen, who says that large ports such as Rotterdam and Southampton are feeling the bump more than other sea ports across Europe and Asia, with container terminals being stretched for space to store extra containers.<\/p>\n<p><strong>OTHER SUEZ CANAL NEWS- The Suez Canal Economic Zone (SCZone) has signed a l<\/strong><strong>ong-term syndicated loan worth EGP 10 bn<\/strong> to finance infrastructure projects, it said in a <a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/2027248427432098\">statement<\/a>. The 10-year loan, signed with a consortium led by the National Bank of Egypt (NBE), will fund projects at industrial zones and ports in the zone, and is divided into two tranches: one EGP 5 bn local currency portion and a USD-denominated tranche worth USD 320 mn (approx. EGP 5 bn). Some of the projects will be completed within two years, SCZone Chairman Yehia Zaki said.<\/p>\n<p><strong>Who else is involved?<\/strong> CIB, Banque du Caire, the Arab African International Bank and Suez Canal Bank are acting as lead managers, while the NBE and Banque Misr are managing and marketing the loan.<\/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\/asia\/\">Asia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/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=\"561546\" 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=\"561546\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/\">\r\n                            Hotel occupancy rates are slowly inching up                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Hotel occupancy rates are slowly inching up&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/&title=Hotel occupancy rates are slowly inching up\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Hotel+occupancy+rates+are+slowly+inching+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fhotel-occupancy-rates-are-slowly-inching-up%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/116.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561547\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/hotel-occupancy-rates-are-slowly-inching-up\/116-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/116.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"116.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/116.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/116.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561546\" class=\"content-area-description single-story post-561546 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-covid-19 tag-enterpriseam tag-hospitality tag-tourism tag-travel 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>Occupancy rates at hotels across Egypt averaged between 40-45% in 1Q2021<\/strong>, but have been growing m-o-m as international travel picks up ever so slowly, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BY07O\">Reuters<\/a> reported, citing an unnamed Tourism Ministry official. Occupancy was at 25% in January, but rose to 30% in February and 45% in March, according to the official. Hotels across the country are still only allowed to operate at 50% capacity. Occupancy rates are now calculated out of that capacity limit, meaning that the real occupancy is around 25% for the three-month period.<\/p>\n<p><strong>Forecasts say things will get better:<\/strong> Occupancy rates are forecast to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5879ef4-4c9b-4b38-8d93-6982e3bb717b\">pick up this year<\/a> with the roll-out of vaccines, which will help kickstart international travel. Some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25c22f51-75bc-4758-9387-dc7b68f73b17\">2 mn tourists<\/a> have visited the country in the nine months since flights restarted following the initial wave of covid-19.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/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=\"561548\" 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=\"561548\">\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\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/railway-media-authorities-are-deeply-in-the-red\/\">\r\n                            Railway, media authorities are deeply in the red                        <\/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\/12\/railway-media-authorities-are-deeply-in-the-red\/\" 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\/12\/railway-media-authorities-are-deeply-in-the-red\/')\">\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\/12\/railway-media-authorities-are-deeply-in-the-red\/\">\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=Railway, media authorities are deeply in the red&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/railway-media-authorities-are-deeply-in-the-red\/\">\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\/12\/railway-media-authorities-are-deeply-in-the-red\/&title=Railway, media authorities are deeply in the red\">\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=Railway%2C+media+authorities+are+deeply+in+the+red+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Frailway-media-authorities-are-deeply-in-the-red%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\/12\/railway-media-authorities-are-deeply-in-the-red\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561548\" class=\"content-area-description single-story post-561548 post type-post status-publish format-standard hentry category-budget-watch tag-budget-watch tag-egyptian-national-railways tag-enterpriseam tag-house-of-representatives tag-infrastructure tag-osama-heikal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The National Railway Authority (NRA) and the National Media Authority (NMA) <\/strong><strong>posted the largest losses among all state institutions in FY2019-2020<\/strong>, according to a report by the House Planning and Budgeting Committee on last fiscal year\u2019s budget picked up by <a href=\"https:\/\/tinyurl.com\/dyxvzr8\">Masrawy<\/a>. Egypt\u2019s 53 state authorities recorded a grand total of EGP 192 bn in losses. The NRA and NMA accounted for a combined 92% of the EGP 22 bn in losses 14 major state bodies incurred, with the railway operator making up over half of that figure. The committee presented its customary end-of-year report on the closing balances of individual government institutions to the House general assembly for review yesterday.<\/p>\n<p><strong>What\u2019s the recourse?<\/strong> The report called for setting up committees to evaluate what went wrong, and look into whether the boards of directors of the two biggest loss-making authorities have been doing in the past three fiscal years. It also recommended setting up other committees with members from the Central Auditing Organization and the Financial Regulatory Authority to improve future performance and suggested some loss-making state bodies <a href=\"https:\/\/bit.ly\/3dX9kAP\">should be merged together<\/a> or be subject to other rigorous structural changes.<\/p>\n<p><strong>It\u2019s not particularly good news for Information Minister Osama Heikal<\/strong>, who is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/12c21aca-573a-43dd-9b9f-8c0b0d572ff1\">facing parliamentary scrutiny<\/a> over how the ministry has been spending public money since it was <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/23\/meet-your-new-cabinet-8910\/\">reconstituted in 2019<\/a>. Heikal is due to face MPs in the coming period to answer questions about how the ministry has allocated funds under his watch.<\/p>\n<p><strong>And the National Railway Authority\u2019s losses have also widened significantly in recent years. <\/strong>According to the committee\u2019s report, they were at least EGP 12 bn last fiscal year alone, which is around the same figure recorded <a href=\"https:\/\/www.youm7.com\/story\/2020\/2\/4\/%D8%AF%D9%81%D8%A7%D8%AA%D8%B1-%D8%A7%D9%84%D8%AD%D8%B3%D8%A7%D8%A8-%D8%A7%D9%84%D8%AE%D8%AA%D8%A7%D9%85%D9%89-%D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D9%82%D9%88%D9%85%D9%8A%D8%A9-%D9%84%D8%B3%D9%83%D9%83-%D8%AD%D8%AF%D9%8A%D8%AF-%D9%85%D8%B5%D8%B1-66-%D9%85%D9%84%D9%8A%D8%A7%D8%B1\/4613753\">in FY2018-2019<\/a>. Besides consistently being in the red, the authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8496173a-0ab8-4b23-831b-4a88bcd91eb2\">also owes<\/a> at least EGP 100 bn to the central bank and EGP 150 bn in government dues. Reforming this crucial institution is one of the government\u2019s most pressing priorities as Egypt\u2019s rail network is suffering from years of neglect that routinely leads to tragic accidents \u2014 the most recent of which was last month\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8496173a-0ab8-4b23-831b-4a88bcd91eb2\">Sohag train crash<\/a>. The state has earmarked investments worth EGP 225 bn to revamp 10k kilometers of rail lines.<\/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-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-national-railways\/\">Egyptian National Railways<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-heikal\/\">Osama Heikal<\/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=\"561549\" 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=\"561549\">\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\">Customs<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/\">\r\n                            Shipping companies will need to file with Nafeza from July                        <\/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\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/\" 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\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/')\">\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\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/\">\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=Shipping companies will need to file with Nafeza from July&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/\">\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\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/&title=Shipping companies will need to file with Nafeza from July\">\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=Shipping+companies+will+need+to+file+with+Nafeza+from+July+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fshipping-companies-will-need-to-file-with-nafeza-from-july%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\/12\/shipping-companies-will-need-to-file-with-nafeza-from-july\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561549\" class=\"content-area-description single-story post-561549 post type-post status-publish format-standard hentry category-customs tag-aci tag-customs tag-customs-authority tag-enterpriseam tag-finance-ministry tag-nafeza tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Shipping companies will be required to send information about their cargo <\/strong><strong>electronically to the Customs Authority\u2019s new digital platform<\/strong> when the system goes live later this year, according to <a href=\"https:\/\/bit.ly\/3scvMuG\">a recent decision<\/a> by the Finance Ministry. Cargo data and documents such as the commercial invoice and bill of lading will have to be submitted to the new Advance Cargo Information (ACI) system, part of the National Single Window for Foreign Trade Facilitation (<a href=\"https:\/\/www.nafeza.gov.eg\/en\">Nafeza<\/a>), <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db89f9d3-7845-43d9-bb0a-35d9132a4b9f\">a digital customs system<\/a> being rolled out by the Finance Ministry to speed up customs procedures and improve border security. The authority began trialling the ACI system at the start of April and plans to make it compulsory at all seaports in July before applying it to air and land ports at a later date.<\/p>\n<p><strong>ACI?<\/strong> ACI \u2014 otherwise known as a pre-registration system \u2014 is a World Customs Organization protocol that provides shipping lines, port operators and governments real-time information on shipments of incoming goods. Egyptian importers are required to file the paperwork at least 48 hours before the goods are shipped, after which they are given a unique ID known as an ACID. The shipping company must then submit documentation to Nafeza containing information such as the ACID and the bill of lading, which the ministry has now decided must be done at least 24 hours before the ship leaves port.<\/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\/aci\/\">ACI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-authority\/\">Customs Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nafeza\/\">Nafeza<\/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=\"561550\" 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=\"561550\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/561550\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561550\" class=\"content-area-description single-story post-561550 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-Estate4-1600px.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=\"561551\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-txhvue4\" data-v=\"4\" data-block-id=\"txhvue4\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-txhvue4-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-txhvue4-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-cj9x4dt\" data-v=\"4\" data-block-id=\"cj9x4dt\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-cj9x4dt-container stk--no-background stk--no-padding\"><div 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stk-block-column__content stk-container stk-uek30p2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-uek30p2-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-v6l5njo\" data-v=\"4\" data-block-id=\"v6l5njo\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-v6l5njo-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-v6l5njo-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                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   <div class=\"index-number\">9<\/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\/12\/gerd-continues-to-dominate-proceedings-on-the-airwaves-on-12-april-2021\/\">\r\n                            GERD continues to dominate proceedings on the airwaves on 12 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 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on 12 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=GERD+continues+to+dominate+proceedings+on+the+airwaves+on+12+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fgerd-continues-to-dominate-proceedings-on-the-airwaves-on-12-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\/12\/gerd-continues-to-dominate-proceedings-on-the-airwaves-on-12-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/117.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561553\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/gerd-continues-to-dominate-proceedings-on-the-airwaves-on-12-april-2021\/117-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/117.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"117.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/117.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/117.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561552\" class=\"content-area-description single-story post-561552 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-last-nights-talk-shows tag-diplomacy tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-politics tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The dispute over the Grand Ethiopian Renaissance Dam continued to hog the limelight o<\/strong><strong>n the talk shows last night<\/strong>. The highlight of the night was provided by Hadeeth Al Kahira, which talked to Foreign Minister Sameh Shoukry about the current state of the negotiations and the potential for rapprochement with Turkey (<a href=\"https:\/\/www.youtube.com\/watch?v=c8HIb55_Ttg\">watch, runtime: 10:38<\/a>).<\/p>\n<p><strong>The red line remains:<\/strong> The minister reiterated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a2840fd-8b01-420e-8826-6cc918bb0062\">previous statements<\/a> made by the president that unilaterally reducing Egypt\u2019s share of the Nile\u2019s water is a red line for the government that would not be tolerated. Egypt regards filling the dam\u2019s reservoir without an agreement as a \u201chostile act,\u201d but the government is taking all diplomatic and political measures to try and resolve the issue, he said.<\/p>\n<p><strong>As does the possibility for an agreement:<\/strong> Egypt hopes Ethiopia reverses course and decides not to go ahead with the second phase of filling the dam\u2019s reservoir this summer. A joint agreement between all three countries remains possible, should Ethiopia have the political will to negotiate, Shoukry said.<\/p>\n<p><strong>OTHER GERD UPDATES- <\/strong>Rising tensions over the dam amid Egypt and Sudan\u2019s refusal of Ethiopia\u2019s latest offer got coverage in Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=TQyWvYGBQlw\">watch, runtime 2:04<\/a>), which also talked to Hani Sewilam, professor of water resources management at the RWTH Aachen University in Germany, about the latest developments (<a href=\"https:\/\/www.youtube.com\/watch?v=msyLBiHUQWg\">watch, runtime 9:03<\/a>). The GERD\u2019s impact on Egypt won\u2019t be instant as the Aswan High Dam compensates for the shortage of water that will be stored by the GERD but this buffer will not last long, he said. The only solution is that Ethiopia bows to the international community and that\u2019s why Egypt is asking for foreign mediators and facilitators, he added. Ala Mas\u2019ouleety\u2019 also featured an interview with Abbas Sharaky, professor of Water Resources at Cairo University, on the GERD (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/385364545785777\">watch, runtime 5:51<\/a>).<\/p>\n<p><strong>MEANWHILE: Turkey needs to walk the walk:<\/strong> Egypt appreciates Turkey\u2019s recent gestures suggesting it is interested in resetting relations, but actions speak louder than words, Foreign Ministry Shoukry suggested last night (<a href=\"https:\/\/www.youtube.com\/watch?v=fBHXaltnqZ4\">watch, runtime 4:36<\/a>). The minister was speaking after <strong>t<\/strong><strong>wo Egyptian Ikhwani mouthpieces at the Istanbul-based Al Sharq are now on indefinite leave<\/strong><strong> after their shows were cancelled in the wake<\/strong> of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd9bd86b-542e-46d6-a545-108fa6ec37d9\">Turkey's policy switch<\/a> to tone down anti-Egypt rhetoric among the country\u2019s media, <a href=\"https:\/\/www.arabnews.com\/node\/1841076\/media\">Arab News<\/a> reports.<\/p>\n<p><strong>The shutdown was a \u201cpositive development,\u201d Shoukry said<\/strong>, urging Ankara to continue to crack down on \u201chostile elements\u201d that attack Egypt \u2014 and tp avoid interfering in Egypt\u2019s affairs. The minister also stressed that Egypt supports Lebanon to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58c88e08-0283-4823-a2e5-9645f3c94637\">form a government<\/a> that has the political will to embark on economic reforms and solve the ongoing financial crisis (<a href=\"https:\/\/www.youtube.com\/watch?v=mYY0rVtJd8Q\">watch, runtime 3:37<\/a>).<\/p>\n<p><strong>ALSO LAST NIGHT-<\/strong> The public prosecution\u2019s statement on the investigation into the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bcf3978-5ef1-496c-aa08-47cf1436e86e\">Sohag train collision<\/a> received widespread coverage: Kelma Akhira\u2019s Lamees Al Hadidi (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=DU23OY8s3Zc\">14:10<\/a> I <a href=\"https:\/\/www.youtube.com\/watch?v=DU23OY8s3Zc\">3:53<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=IZHeqoCUdE4\">watch, runtime 3:03<\/a>), and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/watch\/live\/?v=447125113025558&ref=watch_permalink\">watch, runtime 12:15<\/a>). We have more on this in this morning\u2019s Also On Our Radar, below.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span 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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561554\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561555\" 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=\"561555\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/egypt-in-the-news-on-12-april-2021\/\">\r\n                            Egypt in the News on 12 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\/12\/egypt-in-the-news-on-12-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\/12\/egypt-in-the-news-on-12-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\/12\/egypt-in-the-news-on-12-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=Egypt in the News on 12 April 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/egypt-in-the-news-on-12-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\/12\/egypt-in-the-news-on-12-april-2021\/&title=Egypt in the News on 12 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+12+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Fegypt-in-the-news-on-12-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\/12\/egypt-in-the-news-on-12-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561555\" class=\"content-area-description single-story post-561555 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-metoo tag-ahmed-bassam-zaki tag-enterpriseam tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dominating the conversation on Egypt in the foreign press this morning:<\/strong> 21-year-old Ahmed Bassam Zaki was sentenced yesterday to eight years in prison for assaulting and blackmailing three minors. The ex-AUC student, who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbc83b1f-79fd-475e-bfbe-b1819957101d\">in July confessed<\/a> to serially abusing a number of women following his arrest, was sentenced to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c3972ae-fe1b-46e9-b92f-380e0aa9e3b3\">three years in prison<\/a> for blackmailing and [redacted] harassing two women on social media, and was also facing separate charges of assaulting three minors. (<a href=\"https:\/\/apnews.com\/article\/sexual-misconduct-egypt-cairo-middle-east-crime-80c155ca43cc48974a045dc4af47c2ed\">AP<\/a> | <a href=\"https:\/\/www.wionews.com\/world\/egypt-jails-man-for-8-years-in-metoo-case-376919\">AFP<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BY0KT\">Reuters<\/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\/metoo\/\">#MeToo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-bassam-zaki\/\">Ahmed Bassam Zaki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561556\" 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=\"561556\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/negligence-to-blame-for-sohag-train-crash-public-prosecution\/\">\r\n                            Negligence to blame for Sohag train crash -public prosecution                        <\/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\/12\/negligence-to-blame-for-sohag-train-crash-public-prosecution\/\" 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 prosecution said that the incident, which killed 20 people and injured 200 others, was caused by the train driver, his assistant and a control tower guard, the latter two are alleged to have been under the influence of narcotics.<\/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\/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\/banque-misr\/\">Banque Misr<\/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\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rami-aboul-naga\/\">Rami Aboul Naga<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561557\" 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=\"561557\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/what-the-markets-are-doing-on-12-april-2021\/\">\r\n                            What the markets are doing on 12 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\/12\/what-the-markets-are-doing-on-12-april-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Of the 322 CEOs covered in the analysis, 206 saw a pay bump \u2014 some of which sit at the helm of firms that were battered (such as Exxon Mobil, Omnicom Group, and Norway\u2019s Cruise Line Holdings).<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,393<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: -4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>9,938<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +14.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,070<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +20.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,593<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,128<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +9.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,915<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 63.31<\/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 2.56<\/p>\n<\/td>\n<td>\n<p>+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,742.50<\/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 59,800<\/p>\n<\/td>\n<td>\n<p>-0.8% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 0.9% yesterday<\/strong> on turnover of EGP 749 mn (46.1% below the 90-day average). Foreign investors were net sellers. The index is down 4.2% YTD.<\/p><p><strong>In the green: <\/strong>GB Auto (+8.6%), Fawry (+6.4%) and Export Development Bank (+3.9%).<\/p><p><strong>In the red: <\/strong>Eastern Co. (-1.7%), Abu Qir Fertilizers (-1.2%) and EKH (-1.0%).<\/p><p><strong>Asian markets are uniformly in the red this morning<\/strong>, and futures suggest that shares in Europe and North America will follow suits when markets open for the week 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\/exxonmobil\/\">ExxonMobil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/median-income\/\">median income<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microsoft-corporation\/\">Microsoft Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/norwegian-cruise-line-holdings\/\">Norwegian Cruise Line Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nuance-communications\/\">Nuance Communications<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omnicom-group\/\">Omnicom Group<\/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\/revenues-losses\/\">revenues losses<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561558\" 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=\"561558\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/around-the-world-on-12-april-2021\/\">\r\n                            Around the World on 12 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\/12\/around-the-world-on-12-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\/12\/around-the-world-on-12-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\/12\/around-the-world-on-12-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 12 April 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/around-the-world-on-12-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\/12\/around-the-world-on-12-april-2021\/&title=Around the World on 12 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+12+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F12%2Faround-the-world-on-12-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\/12\/around-the-world-on-12-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561558\" class=\"content-area-description single-story post-561558 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-diplomacy tag-enterpriseam tag-jordan tag-king-abdullah-ii tag-libya tag-politics tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Jordan's King Abdullah II and his half brother Prince Hamza bin Hussein <\/strong><strong>yesterday made their first joint public appearance <\/strong>since the latter was accused of plotting to undermine the government and placed under house arrest, <a href=\"https:\/\/apnews.com\/article\/middle-east-abdullah-ii-jordan-7dca2c626a0f6456af9e01ac13d93d79\">the Associated Press<\/a> reports. Marking the 100th year anniversary of the establishment of Transjordan by the British empire, the two were photographed together at the grave of the late King Hussein \u2014 a message seemingly designed to put a line under recent tensions in the royal family and put forward an image of unity. Abdullah said last Wednesday that the rift between himself and Hamza had been \u201cnipped in the bud.\u201d<\/p>\n<p><strong>Interim Libyan Prime Minister Abdul Hamid Dbeibah will pay a <\/strong><strong><a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2BY0H8\">two-day visit<\/a><\/strong><strong>to <\/strong><strong>Turkey today<\/strong> for the first time since taking office earlier this year. Both countries are expected to discuss cooperation on energy and health as well as resumption of some projects by Turkish companies.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/king-abdullah-ii\/\">King Abdullah II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"561559\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-egypts-universities-are-doing-to-foster-entrepreneurship\/\">\r\n                            What Egypt\u2019s universities are doing to foster entrepreneurship<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-egypts-universities-are-doing-to-foster-entrepreneurship\/\" 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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Just think of how many Silicon Valley founders and companies are associated with Stanford University. Egypt is no different, with one factor <a href=\"https:\/\/businessforwardauc.com\/2020\/11\/26\/op-ed-entrepreneurship-education-to-reap-the-potential-harvest-of-a-young-population\/\">driving entrepreneurship<\/a> being support from universities. Today, we take a look at how local university programs are doing this.<\/p>\n<p><strong>University entrepreneurship programs are growing, and producing more startups:<\/strong> After Egypt\u2019s first university-based startup incubator was <a href=\"https:\/\/www.aucegypt.edu\/index.php\/news\/stories\/auc-launches-egypt%25E2%2580%2599s-first-university-based-incubator\">founded by AUC in 2013<\/a>, at least 10 similar programs have been launched by other universities. Programs in Greater Cairo have supported at least 600 startups, with 270 formally graduating. University incubators have emerged outside of Cairo, including in Alexandria and Assiut, with some universities teaching entrepreneurship as an academic discipline. Public universities were issued a government mandate to teach entrepreneurship in 2017, NilePreneurs founder Nezar Sami tells Enterprise.<\/p>\n<p><strong>Incubators offer services to help students found startups, and then nurture them into full-fledged businesses:<\/strong> Generally, incubators give seed funding \u2014 anything from EGP 20k to EGP 250k, depending on the university and its resources \u2014 along with access to a lab or ideation space, technical and business mentorship, office space, marketing support, and connections to prospective investors. They\u2019re university-run, funded through government and private sector partnerships. Unlike most non-university incubator models, they don\u2019t <a href=\"http:\/\/bi.bue.edu.eg\/\">take an equity stake<\/a> in the startups they incubate.<\/p>\n<p><strong>What\u2019s in it for the universities? Quite simply, startup programs attract students:<\/strong> Universities can leverage resources \u2014 academic knowledge, networks, reputation, and access to partnerships \u2014 and channel them into entrepreneurship programs. This helps with promotion and attracting the best students, says Sami. Programs that positively impact employability are a big pull, he adds.<\/p>\n<p><strong>AUC pioneered university startup incubator programs:<\/strong> <a href=\"https:\/\/business.aucegypt.edu\/centers\/vlab\">AUC\u2019s V-Lab<\/a> has graduated over 200 startups since its 2013 founding, marketing and communication manager Nour Ibrahim tells Enterprise. \u201cWe usually get 400-500 applications every cycle, with cycles happening twice a year. And of these applications, we can only take about 25,\u201d she says.<\/p>\n<p><strong>Other Greater Cairo universities have followed suit: <\/strong>Nile University-run <a href=\"https:\/\/nutechspace.com\/services\/\">NU Techspace<\/a> lists 8 startups to which it has provided seed funding, branding, tech training, office space, networking, and legal support. <a href=\"https:\/\/np.eg\/incubate\/startups\/\">NP Incubate<\/a> falls within the <a href=\"https:\/\/np.eg\/en\/\">NilePreneurs Initiative<\/a>, a Nile University-Central Bank joint initiative to promote entrepreneurship, which has supported 74 startups in five sectors as of 2019. The Arab Academy for Science, Technology and Maritime Transport\u2019s <a href=\"http:\/\/www.aast.edu\/en\/centers\/Entrepreneurship\/index.php\">AASTMT Entrepreneurship Center<\/a>, which has at least three distinct incubators, has \u201cempowered\u201d 250 startups since its 2015 founding.<\/p>\n<p><strong>Cairo University and BUE set up programs that graduate 8-12 startups per year on average: <\/strong>Cairo University\u2019s <a href=\"https:\/\/fepsbi.net\/\">FEPS BI<\/a> has graduated 46 startups since its 2016 launch, and is currently incubating 9 more, executive director Heba Zaki tells Enterprise. The <a href=\"http:\/\/bi.bue.edu.eg\/\">BUE\u2019s business incubator<\/a> has graduated 24 startups since it launched in late 2018, director Tamer Adel tells Enterprise.<\/p>\n<p><strong>We\u2019re seeing more specialized university incubators, many of them beyond Cairo:<\/strong> <a href=\"https:\/\/www.facebook.com\/HemmaAssiut\/?ref=page_internal\">Hemma Business Incubator<\/a> at Assiut University, founded in 2014, supports startups focused on health, food, water and manufacturing. The Heliopolis University for Sustainable Development <a href=\"https:\/\/www.hu.edu.eg\/research\/ecsi\/\">ESTEDAMA incubation program<\/a> specializes in sustainable agriculture and food production. <a href=\"https:\/\/www.facebook.com\/Rwaq.Business.Incubator\/\">RWAQ Business Incubator<\/a> run by Al Azhar University focuses on water, agricultural waste management, and renewable energy, while Alexandria University\u2019s Artificial Intelligence Minds is Egypt's first AI-specialized incubator. It isn\u2019t clear how many startups these programs have graduated.<\/p>\n<p><strong>Many university incubators have a sector-specific focus,<\/strong> NilePreneurs\u2019 Sami says. Nile University\u2019s incubator mainly focuses on tech startups, including those in ICT, manufacturing and supply chains. AASTMT\u2019s multiple incubators focus on tourism, manufacturing and industry, technology and digital transformation, while one has a general scope. BUE\u2019s program is a mix of generic and tech-based. \u201cThere are often thematic priorities, depending on the university, its strategy, and its competitive edge,\u201d says Sami. AUC\u2019s V-Labs has one specialized fintech incubator and one that is more general, says Ibrahim. Zaki maintains that FEPS BI is entirely sector agnostic, supporting startups in areas ranging from the green economy to edtech and health tech, e-commerce, and the creative industries.<\/p>\n<p><strong>Several universities \u2014 including Nile University, Cairo University and AUC \u2014<\/strong> <strong>offer informal drop-in labs, where entrepreneurs can get startup advice:<\/strong> They\u2019re designed to plug a gap, because incubator and accelerator services have to be selective, say sources. \u201cWe're always willing to help out with free consultations,\u201d says Ibrahim.<\/p>\n<p><strong>Some universities also offer academic programs in entrepreneurship: <\/strong>Among private universities, AUC, BUE, Nile University, GUC, and the Knowledge Hub all offer academic entrepreneurship programs, says Sami. \u201cThese programs are designed to promote entrepreneurship as a formal discipline,\u201d he says. Their aim is to foster entrepreneurial traits in students, but not necessarily produce startups, he adds.<\/p>\n<p><strong>Awareness-raising sessions \u2014 including student activities \u2014 can also help nurture entrepreneurial drive:<\/strong> Student unions run awareness-raising sessions including boot camps, startup weeks, and hosting guest speakers, says Sami. These sessions are more practical than academic and have some institutional support. The <a href=\"http:\/\/asrt.sci.eg\/\">Academy of Scientific Research and Technology<\/a> gives each entrepreneurship-focused student club EGP 250k per year to conduct its activities, he says. FEPS BI is also very active in the field of awareness-raising, says Zaki. \u201cOver 6k have benefitted from our awareness program since 2016, and we\u2019ve delivered 60 workshops, including 4 specialized training programs.\u201d<\/p>\n<p><strong>According to concrete success metrics \u2014 like the number of startups graduated and jobs created \u2014 it\u2019s V-Labs and FEPS BI leading the pack:<\/strong> V-Labs has graduated 200 startups, 80% of which have survived beyond their initial graduation period, and helped create over 8k jobs, says Ibrahim. FEPS BI has graduated 46 startups \u2014 33 from its general incubation cycle, and 13 from \u201cHer,\u201d its incubation vehicle dedicated to female entrepreneurs, says Zaki. \u201cOur startups have generated total revenue of EGP 23 mn, and we\u2019ve created 133 jobs.\u201d<\/p>\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Education IPO:<\/strong> Shares of higher education outfit Taaleem <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94e97ae5-4a3e-46a4-8dca-243163201344\">popped<\/a> 6% in its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efe90c27-9d82-4363-b78d-b70a052f2cd7\">first day of trading<\/a>, ending the nation\u2019s IPO drought.<\/li>\n<li><strong>Scholarships:<\/strong> A new five-year joint <a href=\"https:\/\/ent.news\/2021\/4\/CHG-and-NUB-MoU-Press-Release-EN.pdf\">scholarship program (pdf)<\/a> funded by Cleopatra Hospitals Group and Nahda University in Beni Suef will offer eight medical students from low-income families the chance to study at the university\u2019s Faculty of Medicine.<\/li>\n<li><strong>Accreditation: <\/strong>International public schools that teach the IGCSE curriculum will be accredited by the British Council under a new <a href=\"https:\/\/gate.ahram.org.eg\/News\/2687245.aspx\">mechanism<\/a>being set with the Education Ministry.<\/li>\n<li><strong>Scientific research cooperation:<\/strong> The American University in Cairo has <a href=\"https:\/\/www.aucegypt.edu\/news\/auc-partners-arab-academy-alalamein-international-university-teaching-scientific-research\">inked<\/a><a href=\"https:\/\/www.aucegypt.edu\/news\/auc-partners-arab-academy-alalamein-international-university-teaching-scientific-research\">two separate agreements<\/a> with the Arab Academy for Science, Technology and Maritime Transport and Al Alamein International University to cooperate on scientific research.<\/li>\n<li><strong>Entrepreneurship:<\/strong> A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c12df8c-7d10-4239-bea8-687386a55448\">\u201c1 mn entrepreneurs\u201d initiative<\/a> will make educational material for aspiring entrepreneurs available online as part of the state-backed Rowad 2030 entrepreneurship program \u2014 and is now accepting applicants.<\/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\/aastmt-entrepreneurship-center\/\">AASTMT Entrepreneurship Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/artificial-intelligence-minds\/\">Artificial Intelligence Minds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bue-business-incubator\/\">BUE business incubator<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/estedama\/\">ESTEDAMA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/feps-bi\/\">FEPS BI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hemma-business-incubator\/\">Hemma Business Incubator<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nilepreneurs\/\">NilePreneurs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/np-incubate\/\">NP Incubate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nu-techspace\/\">NU Techspace<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rwaq-business-incubator\/\">RWAQ Business Incubator<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/v-lab\/\">V-Lab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"561561\" 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\/12\/your-essential-business-calendar-on-12-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561561\" class=\"content-area-description single-story post-561561 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>April: EBRD president Odile Renaud-Basso <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2308519\">expected to visit Egypt<\/a>.<\/p>\n<p>12 April (Monday): Russian Foreign Minister Sergey Lavrov will visit Egypt for GERD talks (<a href=\"https:\/\/www.youtube.com\/watch?v=6Ue03xf1iRk\">watch: runtime: 1:28<\/a>).<\/p>\n<p>13 April (Tuesday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC),<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Coptic Easter Sunday.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>25-28 May (Tuesday-Friday): The World Economic Forum annual meeting, Singapore.<\/p>\n<p>1 June (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>7-9 June (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>17 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>17-20 June (Thursday-Sunday) : The International Exhibition of Materials and Technologies for Finishing and Construction (Turnkey Expo), Cairo International Conference Center.<\/p>\n<p>24 June (Thursday): End of the 2020-2021 academic year (public schools).<\/p>\n<p>26-29 June (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center, Cairo, Egypt.<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>1 July: (Thursday): National holiday in observance of 30 June Revolution.<\/p>\n<p>1 July (Thursday): Large taxpayers that have not yet signed on on to the e-invoicing platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/61c78b1b-ec60-46e8-9760-c995c81f34b9\">will suffer a host of penalties<\/a>, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday)<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>12-15 September (Sunday-Wednesday): <a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a>: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): <a href=\"https:\/\/www.egypt-projects.com\/\">Egypt Projects 2021<\/a> expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The 54th session of the <a href=\"http:\/\/www.cairofair.com\/\">Cairo International Fair<\/a>, Cairo International Conference 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>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/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":561536,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-561535","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8769e1d8-6353-4e3f-8619-bce4f05fe25c","teaser":"","photo_url":"https:\/\/ent.news\/2021\/4\/109.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>Is Cleopatra Hospitals throwing its hat in the ring for Alexandria Medical Services? - 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\/is-cleopatra-hospitals-throwing-its-hat-in-the-ring-for-alexandria-medical-services\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Cleopatra Hospitals throwing its hat in the ring for Alexandria Medical Services?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/is-cleopatra-hospitals-throwing-its-hat-in-the-ring-for-alexandria-medical-services\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:21:04+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\/109.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\/is-cleopatra-hospitals-throwing-its-hat-in-the-ring-for-alexandria-medical-services\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/is-cleopatra-hospitals-throwing-its-hat-in-the-ring-for-alexandria-medical-services\/\",\"name\":\"Is Cleopatra Hospitals throwing its hat in the ring for Alexandria Medical Services? 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