{"id":561858,"date":"2021-04-25T04:00:37","date_gmt":"2021-04-25T04:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=561858"},"modified":"2025-12-16T03:29:01","modified_gmt":"2025-12-16T03:29:01","slug":"russian-tourists-to-return-to-egypt-next-month-1-mn-visitors-could-land-this-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/russian-tourists-to-return-to-egypt-next-month-1-mn-visitors-could-land-this-year\/","title":{"rendered":"Russian tourists to return to Egypt next month, 1 mn visitors could land this year"},"content":{"rendered":"<section id=\"561860\" 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=\"561860\">\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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/\">\r\n                            Thursday off for Sinai Liberation Day; Wall Street hates the Biden tax plan                        <\/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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/\" 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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/')\">\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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/\">\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=Thursday off for Sinai Liberation Day; Wall Street hates the Biden tax plan&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/\">\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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/&title=Thursday off for Sinai Liberation Day; Wall Street hates the Biden tax plan\">\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=Thursday+off+for+Sinai+Liberation+Day%3B+Wall+Street+hates+the+Biden+tax+plan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Fthursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan%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\/25\/thursday-off-for-sinai-liberation-day-wall-street-hates-the-biden-tax-plan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561860\" class=\"content-area-description single-story post-561860 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam 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><strong>Good morning, wonderful people<\/strong>, and welcome to what we hope will be a nice, light workday for all of you. It was meant to be a holiday, so your calendars should all be reasonably clear, right? Also: It\u2019s day 13 of Ramadan, so for those of us observing, we\u2019re nearly at the half-way mark.<\/p><p><strong>Thursday is a day off for the private sector<\/strong> in observance of Sinai Liberation Day, Manpower Minister Mohamed Saafan <a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=1145527745871111&amp;id=195780944179134\">confirmed<\/a> yesterday. EGX will be closed, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianExchangeEGX\/posts\/1479179139083476\">statement<\/a>, and our friends in the banking industry will also be off. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c701f291-2fdc-40b0-960b-92bdc4d59b3a\">Cabinet said on Thursday<\/a> that today\u2019s holiday would be observed at the end of the week instead.<\/p><p><strong>We still have no idea what\u2019s up with Coptic Easter or Sham El Nessim.<\/strong> Easter falls this year on 2 May. It\u2019s not a national holiday, but banks and the EGX have traditionally taken it as a day off. Sham El Nessim is the day after and is a national holiday. Neither the CBE nor the EGX has yet made an announcement about Easter, while Cabinet Spokesman Nader Saad told <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=22042021&amp;id=f2dba5bc-a8ad-4757-8553-7bb5d66e7bf0\">Al Shorouk<\/a> on Thursday that Cabinet hasn\u2019t yet decided what it\u2019s doing with Sham El Nessim.<\/p><p><strong>IT\u2019S A BIG NEWS DAY: The tourism industry just got a huge boost as Moscow moves to <\/strong><strong>allow direct flights <\/strong>to Red Sea hotspots. It\u2019s just what the doctor ordered heading into the summer season. We have chapter and verse on this and much more in this morning\u2019s news well, below.<\/p><p><strong>It\u2019s interest rate week:<\/strong> The Central Bank of Egypt was originally scheduled to meet to review rates this Thursday. <a href=\"https:\/\/bit.ly\/3dJG8yi\">Masrawy<\/a> reports that the meeting could now be moved to Wednesday, 28 April or pushed to Sunday, 2 May.<\/p><p>What\u2019s the monetary policy committee going to do when it meets? <strong>All 14 analysts and <\/strong><strong>economists we spoke with are calling another hold<\/strong>, as we report in our customary poll, below.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from Thursday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Minapharm will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f26e1432-d88a-4d80-a628-e03687889ed5\">manufacture Sputnik V<\/a><\/strong><strong> in Egypt.<\/strong> The news comes as a report suggests Egypt lags some frontier and emerging markets in vaccine rollout.<\/li>\n<li><strong>Banks <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8e90d81-d066-495e-8a04-bb8af8c86a25\">can start issuing<\/a><\/strong><strong> deposit-backed electronic currencies<\/strong> under new CBE regs.<\/li>\n<li><strong>Love from the EBRD: <\/strong>Kom Ombo solar plant and green cities are getting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\">USD 144 mn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\">in EBRD funding<\/a>.<\/li>\n<\/ul><p><strong>CORRECTION:<\/strong> We incorrectly stated that the EBRD\u2019s USD 114 mn financing for the Kom Ombo solar plant would increase the plant\u2019s capacity by 200 MW. The plant\u2019s total capacity is 200 MW. The story has since been updated on our website.<\/p><hr class=\"grey-line\"><p><strong>** So, when do we eat?<\/strong> Maghrib prayers are at 6:28pm in the capital city today. You\u2019ll have until 3:44am to finish up sohour.<\/p><p><strong>PSA- It\u2019s going to be hot today,<\/strong> with the mercury rising to 36\u00b0C this afternoon. It will cool off to 19\u00b0C overnight, according to the <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/photos\/a.1606698572698165\/4267024766665519\/\">national weather service<\/a>. We\u2019re in for nice weather Monday through Wednesday, with daytime highs of 28-33\u00b0C, before a five-day heat wave hits just in time for the weekend, according to our favourite weather app.<\/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>MARKET WATCH-<\/strong><\/p><p><strong>US investors are up in arms about a Biden administration plan to double the top capital <\/strong><strong>gains tax rate for the wealthiest of Americans<\/strong>, with the <a href=\"https:\/\/www.ft.com\/content\/b4b054a7-79e3-4e72-93c4-e05cb99c9a50?shareType=nongift\">Financial Times<\/a> writing that Wall Street types believe the move \u201cwould probably reduce tax revenues over time and would discourage people from allocating money towards long-term investments.\u201d The move would hike the top end of the capital gains tax to 43.4%. \u201cHowls of protest echoed from Wall Street to Silicon Valley, as financial lobbyists geared up to influence legislation,\u201d the salmon-colored paper notes.<\/p><p><strong>The Biden tax plan contributed to a day to forget for cryptocurrencies on Friday<\/strong>, which saw more than USD 200 bn erased from the market during a large wave of selling, <a href=\"https:\/\/www.cnbc.com\/2021\/04\/23\/bitcoin-btc-price-plunges-as-260-billion-wiped-off-cryptocurrencies.html\">CNBC<\/a> reports. Bitcoin fell 7.3% to fall below the USD 50k handle for the first time since Match, while Ether \u2014 the second-largest cryptocurrency \u2014 fell 8%.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Finance Minister Mohamed Maait is addressing AmCham\u2019s Pre-Annual General Meeting<\/strong><strong> on Tuesday<\/strong> to discuss Egypt\u2019s economic reform beyond the pandemic. The event will be held virtually at 2pm CLT. Members and non-members alike are welcome to attend. <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1363\">Register here<\/a>.<\/p><p><strong>Transport Minister Kamel El Wazir will address the House of Representatives on<\/strong> <strong>Tuesday<\/strong> to discuss his ministry\u2019s plan to overhaul the country\u2019s transportation system, according to the House agenda. El Wazir\u2019s planned appearance in parliament comes after multiple calls from MPs to question the minister or otherwise hold him accountable for the recent streak of railway accidents, including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab9ca9b1-c618-437a-9adc-f28c40323304\">Qalyubia train crash<\/a>, which left <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5471cce4-ac14-4359-9c84-7d2fe14fb18a\">23 dead<\/a> and another 139 injured.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561861\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"561861\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/561861\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561861\" class=\"content-area-description single-story post-561861 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/SOMA-ENTERPRISEACT-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561862\" 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=\"561862\">\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\">POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/enterprise-poll-cbe-to-leave-rates-on-hold-at-upcoming-meeting\/\">\r\n                            ENTERPRISE POLL- CBE to leave rates on hold at upcoming meeting                        <\/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\/25\/enterprise-poll-cbe-to-leave-rates-on-hold-at-upcoming-meeting\/\" 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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All 14 analysts and economists we surveyed expect the central bank to continue its cautious approach and hold off on making further cuts until the second half of the year, particularly as a number of emerging market central banks <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccd897f8-4089-42bc-acdf-910a9ef73e4c\">hiked rates last month<\/a>.<\/p>\n<p><strong>Where rates currently stand:<\/strong> The CBE\u2019s overnight deposit rate stands at 8.25% and the lending rate is 9.25%, while the main operation and discount rates are at 8.75%. The central bank slashed rates by 400 bps last year, including an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2e78eb3-6978-4eb5-a04f-a3b7247293ed\">emergency 300-bps cut in March<\/a> to protect the economy from the fallout from covid-19, and two 50-bps cuts in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/383b8b99-dd6d-46df-b2dd-f2c241ea039f\">September<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5662d281-1e6f-4604-b559-ae1ac16ce3be\">November<\/a>.<\/p>\n<p><strong>The two key factors: commodity prices and rising interest rates:<\/strong> \u201cWe\u2019re looking for rates to remain on hold as the situation that existed in the last meeting prevails, namely elevated rates globally and high commodity prices,\u201d EFG Hermes\u2019 Mohamed Abu Basha told us.<\/p>\n<p><strong>Inflationary pressures have so far remained muted:<\/strong> Inflation has risen only slightly during the first quarter despite a backdrop of rising global commodity prices. The annual urban rate has increased from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2132ef4-bbe3-4fbf-adbe-0033fb050730\">4.3%<\/a> in January to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91d91bf8-2519-46d6-a33e-b0495cc892c0\">reaching 4.5%<\/a> in March. This figure is still short of the central bank\u2019s 7% (\u00b1 2%) target range.<\/p>\n<p><strong>But this will likely change in the months ahead:<\/strong> \u201cInflation will gain momentum in the next couple of months as the impact of rising global commodity prices trickles down to the general economy,\u201d Beltone\u2019s head of research Alia Mamdouh told us. The restocking of essential food items amid the global increase in raw material prices will likely cause increased upward price pressure on foodstuffs \u2014 and will inform the CBE\u2019s decision to leave rates unchanged, said CI Capital\u2019s Sara Saada. Meanwhile, Sigma Capital head of research Abou Bakr Imam says the central bank will not make any policy changes until it assesses the impact of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f555e13-8674-4f7e-9513-4c025360a040\">the increased public sector wages<\/a> due to come in in July, which he expects will cause inflation to accelerate.<\/p>\n<p><strong>The base effect could mitigate this:<\/strong> Naeem Brokerage\u2019s Allen Sandeep notes that a favorable base effect could keep price growth in check. \u201cWhile we do expect a pick-up in monthly inflation going forward, the favorable base year factor should absorb most of it even considering the possibility of a fuel price hike in July,\u201d he said.<\/p>\n<p><strong>Higher US treasury yields could still tempt foreign investors Westwards:<\/strong> Rising commodity prices and cheaper US treasuries (as a result of higher yields) \u201cwill trigger the CBE to maintain a high real interest rate environment in order to maintain portfolio attractiveness, which is key to the stability of the EGP given the slow recovery in the tourism sector,\u201d said Mamdouh.<\/p>\n<p><strong>Recent rate hikes by EM central banks could add a bit of pressure to leave things unchanged in Egypt: <\/strong>\u201cWe\u2019ve seen some emerging markets start to hike rates. In that respect, we think the CBE will continue with its stance of holding rates steady,\u201d Abu Basha said. Policymakers across 37 EMs delivered five net interest rate hikes last month, signaling a switch in direction from monetary easing for the first time since February 2019, we noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccd897f8-4089-42bc-acdf-910a9ef73e4c\">last week<\/a>.<\/p>\n<p><strong>The CBE has nurtured Egypt\u2019s position as one of the world\u2019s most lucrative carry trades<\/strong> in the face of rising US yields. Any rate cuts at this point could dim the attractiveness of sovereign debt to foreigners, says independent analyst Hany Aboul Fotouh. As pressure on sources of foreign currency remains \u201csignificant\u201d and as the economy still faces \u201cpandemic-related distortions\u201d and structural weaknesses, the central bank will likely champion the role of foreign portfolio investment to finance the nation\u2019s current account deficit, Prime Holding\u2019s Mona Bedeir said. But with the prevalence of \u201cglobal volatility and weak prospects of foreign portfolio flow momentum,\u201d the CBE is unlikely to cut rates at the moment, said CI Capital\u2019s Saada. Emerging markets last month saw daily outflows for the first time since October as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c6fb4fa-12c9-45d0-b904-242cb9d1c66d\">uptick in US treasury yields<\/a> this year dented the EM asset rally and raised the spectre of a repeat of 2013\u2019s so-called <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15dfd0a7-91a0-44c1-8303-adefafb2d22b\">Taper Tantrum<\/a>.<\/p>\n<p><strong>How good is Egypt\u2019s carry trade? <\/strong>HC Securities\u2019 Monette Doss, who sees the MPC leaving rates unchanged, benchmarks us against Turkey, which she estimates has a real yield of c. 4% on 19-month treasuries. \u201cThis compares to a real yield of 3.9% on Egypt\u2019s 12M T-bills,\u201d she says, \u201cgiven a 15% tax rate for US and European investors and our inflation forecast of 7.5% over the next 12 months.\u201d<\/p>\n<p><strong>For now, the CBE will continue to rely on subsidized lending to boost activity in certain sectors<\/strong>, Suez Canal Bank\u2019s Mohamed Abdel Aal said. Many companies in Egypt currently have access to loans at sub-market rates backed by the CBE, under initiatives that were introduced in recent years and expanded when the covid-19 pandemic took hold \u2014 including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8425aa4-e5d7-459b-aa44-845d254d94e0\">EGP 200 bn<\/a> in loans to factories and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab581e1-1144-4d1e-a2ce-9b1aee8dd5b1\">EGP 50 bn<\/a> in support to the hard-hit tourism sector.<\/p>\n<p><strong>So, when can we expect the next rate cut? <\/strong>Not until the late summer\/early fall is the loose consensus. The CBE will likely continue holding rates at least until August, with the first cut likely to take place after Egypt makes it back onto JPMorgan\u2019s emerging-markets government bond index, Arqaam Capital\u2019s Noaman Khalid says. Reinclusion on the index could attract up to USD 4.8 bn of passive inflows into Egyptian bonds and a potential 5% appreciation of the EGP against the greenback, Rand Merchant Bank economist Neville Mandimika <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5aae968-5b2f-4ad1-a71b-3fcef02a764d\">recently said<\/a>.<\/p>\n<p><strong>Towards the end of the year seems the most likely window for cuts<\/strong>, say Beltone\u2019s Mamdouh and Pharos Holding\u2019s Radwa El Swaify, who sees \u201cmore reasons for CBE to make no interest rate cuts and keep any potential cuts to later this year.\u201d But there is a slim chance that the rate cut might be brought slightly forward if growth remains muted. \u201cIf the economic recovery remains slow-going, policymakers may opt to loosen monetary conditions sooner,\u201d Capital Economics\u2019 Jason Tuvey wrote in a research note.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-poll\/\">Enterprise Poll<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/poll\/\">POLL<\/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=\"561864\" 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=\"561864\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/growth-forecasts-are-largely-holding-steady\/\">\r\n                            Growth forecasts are (largely) holding steady                        <\/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\/25\/growth-forecasts-are-largely-holding-steady\/\" 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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This is a very slight upwards revision from the 2.8% from an earlier Reuters poll <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed187a28-0e0c-4ac9-8f2b-4822bfa5c4e1\">in January<\/a> but is still short of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7268a5b-a6d2-48a8-b108-8110d3f0e58e\">3.3% projected<\/a> by the government and is significantly lower than the 6% pre-covid forecast.<\/p>\n<p><strong>The familiar culprit:<\/strong> \u201cWe expect slashed tourism to be the main drag on the economy\u201d in the fiscal year ending 30 June, said Garbis Iradian, chief economist at the Institute of International Finance. Monthly tourism revenues are estimated to have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/208459ce-0af4-4af3-b83f-04a417b32cb8\">plunged by as much as 92% during 2020<\/a> due to the pandemic, with Egypt having recorded <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/468e39bc-52f8-4e9f-9f2a-77e1835979a6\">USD<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/468e39bc-52f8-4e9f-9f2a-77e1835979a6\">14 bn in foregone<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/468e39bc-52f8-4e9f-9f2a-77e1835979a6\">revenue<\/a>.<\/p>\n<p><strong>A tourism recovery in next fiscal year will see growth return to a<\/strong><strong> 5% clip<\/strong> before accelerating to 5.5% in FY2022-2023, according to the poll. The government\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6b6f594-177a-428b-861a-f13060029d6e\">draft budget approved last month<\/a> forecasts growth between 5.4% and 6% in FY2021-2022.<\/p>\n<p><strong>Annual urban inflation for the current fiscal year is expected to come in at 4.8%<\/strong>, down from the 5.6% predicted in the last Reuters poll in January, putting it just below the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0f0225e-15bb-41ec-b441-e7f0beb52b47\">amended target rate of 7% (\u00b1 2%)<\/a>. Inflation is then expected to accelerate to 6.4% in FY2021-2022, then 6.2% in FY2022-2023. \u201cWe expect inflation to normalize around a long-term average of 9%,\u201d said HC Securities\u2019 Monette Doss, who expects a surge in prices fueled by increased consumption and a rise in international oil prices will drive prices upwards. Food prices saw a monthly uptick of 1% last month off the back of Ramadan, pushing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91d91bf8-2519-46d6-a33e-b0495cc892c0\">annual headline inflation to 4.8%<\/a>, while annual urban inflation stayed at 4.5%.<\/p>\n<p><strong>Interest rates are expected to hold steady until at least the start of FY2021-2022 this July<\/strong>, most analysts said (echoing the results of our own poll above), with the Central Bank of Egypt\u2019s Monetary Policy Committee expected to decide to cut rates by 25 bps during its meeting on 17 June, with a possibility of a further rate cut to 8.25% in 2022, respondents said.<\/p>\n<p><strong>The EGP could ease slightly against the greenback<\/strong>, reaching EGP 15.90 \/ USD 1 by the end of 2021, and dropping further to EGP 16.20 by the end of 2022 and EGP 16.74 by the end of 2023.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/institute-of-international-finance\/\">Institute of International Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561866\" 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=\"561866\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/spasibo-druzya\/\">\r\n                            Spasibo, druz\u2019ya                        <\/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\/25\/spasibo-druzya\/\" 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 decision to resume flights comes as Russian inspections determined that Egypt\u2019s airports meet all the necessary security standards to keep tourists \u201csafe and comfortable,\u201d the statement says.<\/p>\n<p><strong>What\u2019s the timeline?<\/strong> The statement doesn\u2019t clarify when travel between the two countries will resume, but Civil Aviation Minister Mohamed Manar Anba told El Hekaya\u2019s Amr Adib over the weekend that they could be back within the next 7-10 days (<a href=\"https:\/\/bit.ly\/3aAydRX\">watch from minute 55:25 \u2014 runtime: 3:14<\/a>). Russia\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/804c3df1-f504-4a20-9ecf-697adad85ccf\">Interfax<\/a> news agency reported last week that charter flights could return on 10 May.<\/p>\n<p><strong>As many as 1 mn Russians could visit Egypt this year<\/strong>, said <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=24042021&id=e3a722bc-fa18-42c2-970d-2f5a958ea8bf\">head of the Red Sea Chamber<\/a><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=24042021&id=e3a722bc-fa18-42c2-970d-2f5a958ea8bf\">of Hotel Establishments Alaa Akel<\/a>. Egypt used to see 3 mn Russian tourist arrivals per year, bringing in some USD 3.5 bn in annual tourism revenues, <a href=\"https:\/\/alborsaanews.com\/2021\/04\/23\/1436784\">according to<\/a> EFG Hermes\u2019 Mohamed Abu Basha.<\/p>\n<p><strong>It\u2019s been a long time coming:<\/strong> Russia banned direct flights to Red Sea resort towns after the <a href=\"https:\/\/enterprise.press\/issues\/2015\/11\/01\/authorities-downplay-wilayet-sina-claim-of-terror-attack-as-russian-charter-goes-down-in-sinai\/\">2015 Metrojet crash in Sinai<\/a>, which killed all 224 passengers and crew members on board. Russian security and safety experts have since inspected Egypt\u2019s airports several times, and El Sisi has personally <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/24\/el-sisi-brings-up-russian-flights-to-egypt-with-putin-but-no-breakthrough-yet\/\">raised the issue<\/a> with Putin in the past. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-russia-agree-resume-all-flights-including-resort-towns-statement-2021-04-23\/\">Reuters<\/a> also had the story.<\/p>\n<p><strong>ALSO FROM THE TOURISM WORLD- Gov\u2019t stipulated minimum charges at Egypt\u2019s hotels<\/strong><strong> are back:<\/strong> Five- and four-star hotels in the country will be required to charge a new minimum rate set by the government, the Tourism Ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/photos\/a.825570437621323\/1912427132268976\/\">a statement<\/a> Friday. As of 1 November, the ministry will require all five-star hotels to charge a minimum of USD 40 per night, while four-star establishments must charge at least USD 28 per night.<\/p>\n<p><strong>The ministry had been mulling setting minimum charges in the industry <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2017\/04\/06\/tourism-ministry-committee-recommends-minimum-charge-prices-for-hotels\/\">back in 2017<\/a><\/strong> and a committee formed at the time had recommended setting different rates in each city, suggesting imposing a minimum rate in Cairo that was nearly threefold the minimum charge in tourist cities such as Luxor and Sharm El Sheikh. The proposal was rejected by Cabinet \u2014 led at the time by Sherif Ismail \u2014 in <a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/17\/tourism-ministry-abandons-plan-to-stipulate-minimum-rates-for-hotels\/\">early 2018<\/a> on the grounds that no other country follows a similar policy.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"561868\" 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=\"561868\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/\">\r\n                            More AstraZeneca, Sinopharm jabs are inbound                        <\/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\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/\" 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\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/')\">\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\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More AstraZeneca, Sinopharm jabs are inbound&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/\">\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\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/&title=More AstraZeneca, Sinopharm jabs are inbound\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+AstraZeneca%2C+Sinopharm+jabs+are+inbound+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Fmore-astrazeneca-sinopharm-jabs-are-inbound%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\/25\/more-astrazeneca-sinopharm-jabs-are-inbound\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561868\" class=\"content-area-description single-story post-561868 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-china tag-covid-19 tag-enterpriseam tag-hala-zayed tag-health-minister tag-india tag-moderna tag-pfizer tag-russia tag-sinopharm tag-sinovac tag-uk 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-04\"><\/a> <strong>Another batch of Chinese vaccines will arrive in Egypt on 27 April<\/strong>, Health Minister Hala Zayed said at a presser yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=TFBlum-ToYE\">watch, runtime 40:49<\/a>). A <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1913780152133674\">cabinet statement<\/a> yesterday said that 900k doses of the Sinopharm vaccine will arrive this week. Egypt has so far received <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d6f2923-22e5-45ba-bbdb-95040fb52ca8\">680k doses<\/a> of the Sinopharm vaccine, and the Madbouly government hopes to eventually obtain <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">40 mn shots<\/a> from the Chinese company.<\/p>\n<p><strong>Egypt is also set to get its hands on 2 mn jabs from the Gavi \/ Covax scheme in the first <\/strong><strong>week of May<\/strong>, followed by another 2 mn doses, the minister highlighted. As many as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">4.5 mn doses of the AstraZeneca jab<\/a> are planned to arrive through Covax by the end of May, as part of a 5 mn-dose batch that is promised to be delivered to Egypt.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/365643491652936\">reported<\/a><\/strong><strong> 912 new covid-19 infections yesterday<\/strong>, up from <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/364822401735045\">884<\/a> on Friday and <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/364122155138403\">872<\/a> on Thursday. Egypt has now disclosed a total of 221,570 confirmed cases of covid-19. The ministry also reported 39 new deaths, bringing the country\u2019s total death toll to 12,998.<\/p>\n<p><strong>Vaccinated tourists could be allowed to enter Egypt without presenting a PCR or being <\/strong><strong>subject to quarantine<\/strong>, under proposed measures by members of the House Tourism Committee, the local press <a href=\"https:\/\/alborsaanews.com\/2021\/04\/22\/1436701\">reports<\/a>.<\/p>\n<p><strong>Tourism workers in Sharm El Sheikh and South Sinai will finish getting their jabs this <\/strong><strong>Thursday<\/strong>, Zayed noted in the press conference. The ministry began inoculating tourism workers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b44d31e5-c4dc-4573-a168-7f2eda9d205e\">on 6 April<\/a>.<\/p>\n<p><strong>And some 60% of the registered medical staff have now been vaccinated<\/strong>, she added, noting that only 1<a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/365355468348405\">15 of the overall fatalities<\/a>among the frontline workers contracted the virus inside isolation hospitals.<\/p>\n<p><strong>The third wave has yet to overwhelm the nation\u2019s hospitals:<\/strong> The government has allocated 50% of the country\u2019s hospitals to take covid-19 patients, Zayed said, adding that some 47% of the ICU beds are empty. She said Egypt is witnessing \u201cregular\u201d increases that don't exceed 10% in daily cases.<\/p>\n<p><strong>And the situation in Sohag is not out of control<\/strong>, the minister said on El Hekaya yesterday, noting that another 50 ICU beds will be set up there. She denied the situation in Sohag is \u201cworrying.\u201d Fever and chest hospitals in Sohag were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">80-90% full<\/a> last week amid a spike in cases in the governorate. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-sends-medical-backup-covid-struck-province-2021-04-23\/\">Reuters<\/a>also made note of the story.<\/p>\n<p><strong>COVID AROUND THE WORLD-<\/strong><\/p>\n<p><strong>India is facing an unimaginable covid-19 surge:<\/strong> India reported 346,786 new infections yesterday in what was the third day running that the country had set a world record for new infections, <a href=\"https:\/\/edition.cnn.com\/2021\/04\/24\/india\/india-covid-19-record-infections-intl-hnk\/index.html\">CNN<\/a>reports. The skyrocketing numbers are threatening to overwhelm the country\u2019s healthcare system, which is running low on ICU beds, medicine, oxygen and ventilators.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-minister\/\">Health Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moderna\/\">Moderna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/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\/uk\/\">UK<\/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=\"561869\" 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=\"561869\">\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\">FUEL PRICES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/were-going-to-pay-more-at-the-gas-pump-for-the-first-time-since-2019\/\">\r\n                            We\u2019re going to pay more at the gas pump for the first time since 2019                        <\/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\/25\/were-going-to-pay-more-at-the-gas-pump-for-the-first-time-since-2019\/\" 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 hike \u2014 the first since <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/07\/government-raises-fuel-prices-phasing-out-remaining-fuel-subsidies\/\">July 2019<\/a> \u2014 means that motorists will now pay an extra EGP 0.25 per liter for 95, 92 and 80 octane fuel. As of Friday:<\/p>\n<ul>\n<li><strong>95 octane<\/strong> has risen <strong>3% to EGP 8.75 per liter<\/strong>, up from EGP 8.50;<\/li>\n<li><strong>92 octane <\/strong>has risen by <strong>3.3% to EGP 7.75<\/strong>, from EGP 7.50;<\/li>\n<li><strong>80 octane <\/strong>has risen by <strong>4% to EGP 6.50<\/strong>, from EGP 6.25.<\/li>\n<\/ul>\n<p><strong>Prices of mazut fuel oil for use in factories will remain fixed at EGP 3.9k per tonne, while diesel prices will also stay put at EGP 6.75 per liter<\/strong>, the ministry said.<\/p>\n<p><strong>These rates will remain in effect throughout 2Q2021<\/strong> and are subject to change when the fuel pricing committee next convenes at the end of June to decide on rates for the third quarter. Fuel prices had remained unchanged over the past year after being lowered in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0fe48ff8-9e18-473d-a0b4-b14d60ee993a\">April 2020<\/a>.<\/p>\n<p><strong>Why the move?<\/strong> The price increase aims to mitigate pressures on the state budget as global oil prices inch up, unnamed sources at the ministry told the local press. The state coffers could face additional costs worth USD 10 bn if global oil prices continue to stand at USD 65 per barrel, which is USD 5 above the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0557143-d132-4f80-a888-edd3c67085c5\">USD 61 average price<\/a> assumed in the state budget.<\/p>\n<p><strong>This comes as the government moves towards a complete elimination of fuel subsidies:<\/strong> Egypt has been gradually phasing out fuel subsidies <a href=\"https:\/\/enterprise.press\/stories\/2016\/11\/04\/breaking-news-egypt-to-cut-fuel-subsidies-raise-price-of-petrol-at-the-pumps\/\">since 2016<\/a> as part of the IMF-backed economic reform program. The collapse in global oil prices last year helped subsidy expenditure to plunge <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cebea648-44f4-4769-9c64-352f55716a8d\">77% in FY2019-2020<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5155a79-3981-4cfc-a4ce-4edb9ab7f2c9\">45%<\/a> during 1H FY2020-2021 to EGP 8.4 bn, putting the government on track to beat its EGP 28.2 bn spending target this fiscal year.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel-prices\/\">Fuel prices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/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=\"561871\" 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=\"561871\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/\">\r\n                            Altus\u2019 Akh Gold could invest USD 200 mn if it strikes gold in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Altus\u2019 Akh Gold could invest USD 200 mn if it strikes gold in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/&title=Altus\u2019 Akh Gold could invest USD 200 mn if it strikes gold in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Altus%E2%80%99+Akh+Gold+could+invest+USD+200+mn+if+it+strikes+gold+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Faltus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/250.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561872\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/250-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/250.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"250.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/250.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/250.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561871\" class=\"content-area-description single-story post-561871 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-akh-gold tag-altus-strategies tag-egyptian-mineral-resources-authority tag-enterpriseam tag-gold tag-investment-watch tag-mineral-resources-act tag-mining wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Altus Strategies could invest as much as USD 200 mn in Egypt if it makes a <\/strong><strong>commercially viable discovery in its new gold exploration concessions<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/energy\/miners-seek-gold-under-desert-sands-after-egypt-changes-rules-2021-04-23\/\">Reuters<\/a> reports. Akh Gold, a subsidiary of the Naguib Sawiris-backed company, landed four exploration licenses for nine blocks in the Eastern Desert <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9749041e-f303-49d6-a7ef-4167d3c68224\">in February<\/a> and expects to spend several mn USD on exploration activities. The company will expand its technical team and conduct remote sensing and mapping operations in its concessions, it told the newswire. The UK-based company was awarded the licenses as part of a gold exploration tender the Egyptian Mineral Resources Authority (EMRA) launched <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b6dc75f-f325-4023-ac97-64fff07b8999\">in March of last year<\/a> which saw 82 exploration blocks given to 11 companies.<\/p>\n<p><strong>\u201cTop-tier potential\u201d:<\/strong> Egypt could become one of the continent\u2019s gold hotspots should a few of the companies make commercial discoveries, Altus\u2019 CEO Steven Poulton told Reuters. \u201cIf you get to a point where several discoveries are made, Egypt could be one of the largest gold producers in Africa \u2026 It had top-tier potential,\u201d he said.<\/p>\n<p><strong>Does EMRA need to make more changes to its mining regs?<\/strong> Amendments to the Mineral Resources Act, <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/11\/mineral-resources-act-amendments-set-for-parliamentary-approval-before-summer-recess\/\">approved in 2019<\/a>, have received plenty of praise from investors for offering friendlier terms, including scrapping an unpopular royalty-sharing system. However, Nordana Chairman Sami El Raghy (Centamin\u2019s founder and former chairman) suggests that continuing to rely on tenders for concessions \u201climits the chances of any gold boom,\u201d and that \u201csuccessful mining countries\u201d operate on a first come, first served basis. According to Raghy, these countries set up a framework with qualification standards and investor rights, and investors pour in accordingly.<\/p>\n<p><strong>We\u2019ll know soon enough:<\/strong> Oil Minister Tarek El Molla has said that Egypt will issue a new gold exploration tender every <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b6dc75f-f325-4023-ac97-64fff07b8999\">four months<\/a>, but it is unclear when the next tender is scheduled to kick off.<\/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\/akh-gold\/\">AKH Gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/altus-strategies\/\">Altus Strategies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-mineral-resources-authority\/\">Egyptian Mineral Resources Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mineral-resources-act\/\">Mineral Resources Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561873\" 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=\"561873\">\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\">CRYPTO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/\">\r\n                            Egyptian traders \u2764\ufe0f BTC?                        <\/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\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/\" 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\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/')\">\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\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/\">\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=Egyptian traders \u2764\ufe0f BTC?&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/\">\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\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/&title=Egyptian traders \u2764\ufe0f BTC?\">\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=Egyptian+traders+%E2%9D%A4%EF%B8%8F+BTC%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Fegyptian-traders-%25e2%259d%25a4%25ef%25b8%258f-btc%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\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/251.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561874\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/egyptian-traders-%e2%9d%a4%ef%b8%8f-btc\/251-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/251.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"251.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/251.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/251.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561873\" class=\"content-area-description single-story post-561873 post type-post status-publish format-standard has-post-thumbnail hentry category-crypto tag-crypto tag-cryptocurrency tag-enterpriseam tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s large unbanked population, its high volume of remittances, and economic<\/strong><strong> uncertainty caused by covid-19 could be driving accelerated Bitcoin trading<\/strong>, with peer to peer trading hitting an all time weekly high of EGP 3.2 mn in 1Q2021, according to a video report by trading platform LocalBitcoins (<a href=\"https:\/\/www.youtube.com\/watch?v=34BGTR8_Pnc\">watch, runtime 8:06<\/a>).<\/p>\n<p><strong>Crypto traders under the age of 34 are mainly responsible for driving increased trading volumes in Egypt<\/strong>, the report claims.<\/p>\n<p><strong>The Central Bank of Egypt is <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/10\/cointelegraphs-infographic-on-the-history-of-crypto-in-egypt\/\">open to crypto<\/a><\/strong><strong> \u2014 provided it can regulate it. <\/strong>The bank has warned that <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/24\/central-bank-of-egypt-sets-a-mandatory-10-active-e-wallet-quota-for-the-banking-sector\/\">trade in BTC is illegal<\/a> but has announced <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/19\/cbe-looking-into-issuing-digital-currency\/\">plans to potentially issue its own digital currency<\/a>.<\/p>\n<p><strong>Why is the CBE so cautious about crypto? Look no further than Turkey<\/strong>, where the collapse of a second crypto exchange, Vebitcoin, last week has left regulators vowing to crack down on the industry, as many Turks have sought to put their money in crypto as a hedge against skyrocketing inflation, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-24\/turkey-s-cryptocurrency-pain-grows-with-second-exchange-collapse?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. The exchange cited deteriorating financial conditions for its closure and is now being investigated. Authorities have banned the use of cryptocurrency as a recognized form of exchange starting 30 April and have said more regulation is in store. <strong>Earlier last week, authorities launched an international manhunt for the CEO of another failed Turkish crypto exchange<\/strong>, Thodex, who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8e90d81-d066-495e-8a04-bb8af8c86a25\">fled the country<\/a> owing users USD 2 bn, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-23\/turkey-arrests-dozens-in-probe-of-crypto-exchange-collapse?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/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\/crypto\/\">crypto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"561875\" 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=\"561875\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/\">\r\n                            Ever Given owner appeals ship\u2019s seizure by Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ever Given owner appeals ship\u2019s seizure by Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/&title=Ever Given owner appeals ship\u2019s seizure by Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ever+Given+owner+appeals+ship%E2%80%99s+seizure+by+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Fever-given-owner-appeals-ships-seizure-by-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/252.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"561876\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/ever-given-owner-appeals-ships-seizure-by-egypt\/252-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/252.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"252.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/252.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/252.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561875\" class=\"content-area-description single-story post-561875 post type-post status-publish format-standard has-post-thumbnail hentry category-suez-canal tag-enterpriseam tag-ever-given tag-shoei-kisen tag-suez-canal tag-suez-canal-authority 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-08\"><\/a> <strong>The owner of the mega container ship that blocked the Suez Canal in March has <\/strong><strong>appealed <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8022fbeb-48b1-4d77-b7e9-ccaf73043f67\">a decision by an Egyptian court<\/a><\/strong><strong> that allowed authorities to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b97100ee-aa27-4e11-9a17-8f8189d72c71\">seize control of the vessel<\/a><\/strong> earlier this month. The ship\u2019s protection and indemnity insurer UK Club <a href=\"https:\/\/www.ukpandi.com\/news-and-resources\/press-release-articles\/2021\/ever-given-grounding-in-suez-canal\/\">said Friday<\/a> that the ship\u2019s Japanese owner Shoei Kisen had filed an appeal with the Ismailia court on Thursday seeking to overturn the decision, which earlier this month saw the ship arrested by the Suez Canal Authority (SCA). The SCA is demanding that it is paid USD 916 mn in compensation for the six-day blockage before it releases the ship, a figure that UK Club has called \u201cextraordinary large\u201d and unsubstantiated.<\/p>\n<p><strong>Doubts over the court order, SCA demands:<\/strong> UK Club said that the company had to appeal to the court as the issue wouldn\u2019t be resolved without the continued involvement of the Egyptian courts. \u201cThe appeal against the arrest was made on several grounds, including the validity of the arrest obtained in respect of the cargo and the lack of supporting evidence for the SCA's very significant claim,\u201d it said. The SCA\u2019s USD 916 mn price includes a USD 300 mn \u201csalvage bonus\u201d and another USD 300 mn for \u201closs of reputation.\u201d The claim also does not factor in the cost of salvaging the Evergreen-chartered vessel, which \u201cowners and their hull underwriters expect to receive separately.\u201d<\/p>\n<p><strong>When can we expect to hear from the court?<\/strong> A hearing on the appeal could be held on 4 May, the statement said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shoei-kisen\/\">Shoei Kisen<\/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\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561877\" 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=\"561877\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/us-eu-signal-they-may-be-ready-to-step-in-on-ethiopian-dam\/\">\r\n                            US, EU signal they may be ready to step in on Ethiopian dam                        <\/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\/25\/us-eu-signal-they-may-be-ready-to-step-in-on-ethiopian-dam\/\" 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 statement from the Sudanese ministry was otherwise scant on details, saying only that Abbas briefed van den Dool on the latest negotiations and on Khartoum\u2019s position on the issue. The minister also had a similar conversation with the US Charge d\u2019Affaires Brian Shukan to stress the danger of failing to reach an agreement with Ethiopia over GERD, according to a <a href=\"https:\/\/www.facebook.com\/wreSudan\/posts\/2806429806238067\">separate statement<\/a>.<\/p>\n<p><strong>The EU is ready to mediate if formally requested<\/strong>, and is \u201cwilling to raise its level of participation in the negotiations\u201d if the negotiating parties want that, EU Ambassador in Cairo Christian Berger said in an interview with Al Akhbar picked up by <a href=\"https:\/\/bit.ly\/3xlP30F\">the local press<\/a>. In the meantime, the EU \u201csupports\u201d the current African Union-led negotiations, with the Democratic Republic of Congo at the head of the AU.<\/p>\n<p><strong>New US overseer?<\/strong> The US has appointed veteran diplomat Jeffrey Feltman to act as a special envoy for the Horn of Africa, Secretary of State Antony Blinken <a href=\"https:\/\/www.state.gov\/special-envoy-for-the-horn-of-africa\/\">announced<\/a> Friday. GERD will be one of Feltman\u2019s top priorities, Blinken said.<\/p>\n<p><strong>Reminder: Ethiopia <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c45e862-17f2-4973-ae80-448c7c1d3b84\">has said \u201cno\u201d<\/a><\/strong><strong> to bringing in the US, EU and UN as international mediators<\/strong>, insisting instead that the negotiations continue under the sponsorship of the AU. Addis Ababa <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b3e7ed6-8881-4995-ae50-fe93f99a84ae\">reiterated its opinion last week<\/a> that the best way forward would be to take the talks back to the AU.<\/p>\n<p><strong>IN OTHER DIPLO NEWS-<\/strong><\/p>\n<p><strong>MBZ in Cairo:<\/strong> Security issues in the region \u2014 including GERD \u2014 was the main topic of discussion between President Abdel Fattah El Sisi and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed during talks in Cairo yesterday, Ittihadiya Spokesperson Bassam Rady said in a <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1138932883292757\">statement<\/a>. Both sides also discussed boosting bilateral cooperation especially in economy and investment in various fields, as well as the two countries\u2019 efforts to curb the <a href=\"https:\/\/wam.ae\/en\/details\/1395302929493\">fallout of the covid-19 pandemic<\/a> pandemic. Zayed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d1d63656-c867-4546-83e0-45d65de0c32e\">last visited Cairo<\/a> in December.<\/p>\n<p><strong>Foreign Minister Sameh Shoukry wrapped his <\/strong><strong><a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5509372272468007?__cft__[0]=AZVV6QawLrjTVCsQDj_EhhRVXWX7aK5Rfwo05qLvJKf66eXysEOwG9agWnpKtKobJKsitHEgIhd_tvVRRyrgBVCmuHOoNRnBgEZK1gCkpQgMjKsGx0jk22IzLDpvwA8EMrI7KRKElIqU0V8UBYPm7xMWfZeLNSkb8KawR7LgKRDzAQ&__tn__=%2CO%2CP-R\">African tour<\/a><\/strong><strong> over the weekend, after <\/strong><strong>making the final stop <\/strong><strong><a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5503188756419692\">in Tunisia<\/a><\/strong><a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5503188756419692\">on Thursday<\/a>. Shoukry met with Tunisian President Kais Saied to discuss the GERD impasse and pass along a letter from President Abdel Fattah El Sisi debriefing Saied on the latest developments, and Egypt\u2019s position on the matter. The foreign minister already made stops in Kenya, Comoros, South Africa, the Democratic Republic of Congo, Niger, and Senegal.<\/p>\n<p><strong>Supporting water desalination, digital transformation, and the<\/strong><strong> green recovery are among the European Bank for Reconstruction and Development\u2019s priorities<\/strong> in Egypt in the near future, EBRD President Odile Renaud-Basso said following a meeting between Prime Minister Moustafa Madbouly and over her <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4c831a8-437a-470b-8b78-5f77e7fd4dd7\">two-day visit to Cairo<\/a> last week, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1912238422287847\">statement<\/a>.<\/p>\n<p><strong>Libyan Foreign Minister Najla El Mangoush has accepted an invitation to visit <\/strong><strong>Egypt for talks<\/strong>, spokesperson Ahmed Hafez said in a <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5512112135527354\">statement<\/a>. The invitation was made by Foreign Minister Sameh Shoukry during a phone call at the weekend, during which the ministers discussed recent efforts to stabilize Libya following years of conflict.<\/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\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohammed-bin-zayed\/\">Mohammed bin Zayed<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561878\" 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=\"561878\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/561878\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561878\" class=\"content-area-description single-story post-561878 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561879\" 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=\"561879\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/talk-shows-on-25-april-2021-zayed-updates-nation-on-covid-third-wave-vaccine-rollout\/\">\r\n                            Talk shows on 25 April 2021: Zayed updates nation on covid third wave, vaccine rollout                        <\/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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class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Covid-19 dominated proceedings on the talk shows last night:<\/strong> Health Minister Hala Zayed gave an extended interview to El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=k2C2N7a6FZU\">watch, runtime: 27:11<\/a>), while Kelma Akhira\u2019s Lamees El Hadidi covered yesterday\u2019s presser on the latest developments on vaccines and the third wave.<\/p>\n<p><strong>Some 5 mn doses of the Chinese Sinovac covid-19 vaccine will be locally produced within two months<\/strong> at the factories of state-owned Vacsera, before bringing the total to 40-60 mn per year, Zayed told Adib. The two <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">joint manufacturing agreements<\/a> Vacsera signed with China last week are for local manufacturing and technology transfer, she said.<\/p>\n<p><strong>The Health Ministry plans to launch mobile vaccination points <\/strong>in some neighborhoods, malls and metro stations, she said. The government will soon finish the mega clinics project in Cairo International Convention Centre to provide 10k-15k doses every day through 96 clinics, and similar projects will follow in Alexandria, Upper Egypt and the Nile Delta. We could soon have as many as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">350 operational centers<\/a> as part of a plan to accommodate 112k individuals per day.<\/p>\n<p><strong>Sputnik V vaccines to be available before year-end:<\/strong> The manufacturing of Russia\u2019s Sputnik V vaccine will begin by November and the first doses will be available in December, Wafik Bardissi, chairman and CEO of Minapharm, told Lamees El Hadidi\u2019s Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=2RIfTXyMnP4\">watch, runtime: 7:38<\/a>). Minapharm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f26e1432-d88a-4d80-a628-e03687889ed5\">last week announced<\/a> that it would produce 40 mn doses of Sputnik per year. Egypt is still in negotiations to produce doses of Russia\u2019s Sputnik V vaccine through Vacsera, which will open in Sixth of October City with a production capacity of 40-60 mn doses per year, the minister told Adib. The country is also trying to speed up contracting procedures for 10 mn of the vaccine, the cabinet said in a statement.<\/p>\n<p><strong>Why the low vaccination rates among doctors?<\/strong> Osama Abdel Hay, secretary general of the Egyptian Medical Syndicate, attributed the low rate of vaccination among medical staff to widespread worries over vaccines' safety, but he noted the debate is getting less tense (<a href=\"https:\/\/www.youtube.com\/watch?v=q6h_NwSjrn4\">watch runtime 11:30<\/a>). Zayed said yesterday that around 60% of the country\u2019s medical workers have so far received a covid-19 vaccine. He also referred to late arrival of vaccines at some hospitals and issues in the registration system which dropped some registered names.<\/p>\n<p><strong>El Hadidi also highlighted increasing covid-19 cases <\/strong>amid relaxed measures including the return of Ramadan tents and shisha in many places (<a href=\"https:\/\/www.youtube.com\/watch?v=bgTJFlePxA0\">watch, runtime 4:36<\/a>). She noted that this would lead to increasing pressure on hospitals. The government had recorded almost 65k breaches of the closing times by shops and restaurants during the period from 1 December 2020 to 23 April 2021, Local Development Ministry Spokesperson Khaled Kassem told the show (<a href=\"https:\/\/www.youtube.com\/watch?v=qMZ8K5sANec\">watch, runtime 4:50<\/a>).<\/p>\n<p><strong>In non-covid coverage, MBZ\u2019s visit to Cairo got attention:<\/strong> Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed\u2019s visit to Cairo also received coverage on El Hekaya last night (<a href=\"https:\/\/www.youtube.com\/watch?v=nD7hTAcaccQ\">watch, runtime 11:03<\/a>). Ittihadiya spokesperson described the Egyptian-UAE relations as \u201cextended and deep,\u201d highlighting the high-level cooperation in regional issues including Libya's. Ala Mas\u2019ouleety\u2019s Ahmed Moussa had his own analysis of the visit (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=ijj8SB6nnRo\">4:59<\/a> I <a href=\"https:\/\/www.youtube.com\/watch?v=fEkNIOXlQPE\">3:54<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            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Egypt in the News on 25 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\/25\/egypt-in-the-news-on-25-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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 <\/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\/25\/egypt-in-the-news-on-25-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561881\" class=\"content-area-description single-story post-561881 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-archaeology tag-egyptology tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Archaeology is dominating the conversation in the foreign press this morning:<\/strong> The <a href=\"https:\/\/www.nybooks.com\/articles\/2021\/05\/13\/ancient-egypt-for-the-egyptians\/\">New<\/a><a href=\"https:\/\/www.nybooks.com\/articles\/2021\/05\/13\/ancient-egypt-for-the-egyptians\/\">York Review of Books<\/a> writes that the spate of recent archaeological discoveries and museum openings is causing a revival of the \u201cGolden Age of Egyptology\u201d while <a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/04\/22\/tombs-saqqara-new-discoveries-are-rewriting-ancient-egypts-history\/\">the Washington Post<\/a> says that the recently discovered temple of a previously unknown Ancient Kingdom queen at Saqqara sheds light on a little understood period of the Egyptian history. Meanwhile, <a href=\"https:\/\/www.nytimes.com\/2021\/04\/24\/world\/africa\/egypt-tourism-covid-mummies.html?searchResultPosition=1\">the New York Times<\/a> says that Egyptology is enjoying a \u201cbig moment\u201d but questions whether it will be enough to revive the country\u2019s tourism industry.<\/p>\n<p><strong>El Sisi speaks to the German press:<\/strong> President Abdel Fattah El Sisi gave an extended interview to <a href=\"https:\/\/www.welt.de\/politik\/ausland\/plus230623811\/Aegyptens-Praesident-El-Sisi-Wie-ich-die-Leute-im-Elend-leben-lassen-kann.html\">Die Welt<\/a> and answered questions about his government\u2019s record on human rights, migration and regional questions over Palestine and Iran.<\/p>\n<p><strong>Ghost Ship 2.0?<\/strong> Egyptian authorities have finally permitted a stranded Syrian seafarer to head home after he was held on board his vessel for four years due to the ship\u2019s owners running into debt and having expired certification. (<a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-56842506\">BBC<\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptology\/\">Egyptology<\/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=\"561882\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561883\" 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=\"561883\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/also-on-our-radar-on-25-april-2021\/\">\r\n                            Also on our Radar on 25 April 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/also-on-our-radar-on-25-april-2021\/&title=Also on our Radar on 25 April 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Also+on+our+Radar+on+25+April+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Falso-on-our-radar-on-25-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\/25\/also-on-our-radar-on-25-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561883\" class=\"content-area-description single-story post-561883 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-markets tag-china-state-construction-engineering-corporation tag-construction tag-debt tag-efg-hermes-corp-solutions tag-enterpriseam tag-margin-trading tag-new-alamein tag-non-banking-financial-services wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EFG Hermes Corp Solutions <\/strong><a href=\"https:\/\/bit.ly\/3v8EzQk\">has received<\/a> some EGP 500 mn-worth of <strong>loan<\/strong><strong> requests from brokerages<\/strong> looking to finance <strong>margin trades<\/strong> for their clients after the Financial Regulatory Authority recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c677777d-8336-466e-a0d4-4b6343b426f7\">moved to allow<\/a> non-bank lenders to bankroll equity purchases on margin through brokerages.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>National Housing Company<\/strong> sold its <strong>Meridien Heliopolis<\/strong> hotel for EGP 605 mn to <strong>IMEX International<\/strong>, according to a bourse statement (<a href=\"https:\/\/ent.news\/2021\/4\/NHC-Meridien-EGX.pdf\">pdf<\/a>).<\/li>\n<li><strong>China State Construction Engineering Corporation<\/strong> is in talks with <strong>Banque Misr<\/strong> to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=24042021&id=ae4f8ba7-0d1e-4d38-8e26-a32861167ce3\">obtain an EGP 3.5 bn loan<\/a> to help fund its construction of five residential towers in New Alamein.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china-state-construction-engineering-corporation\/\">China State Construction Engineering Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes-corp-solutions\/\">EFG Hermes Corp Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/margin-trading\/\">Margin Trading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-alamein\/\">New Alamein<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561884\" 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=\"561884\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/what-the-markets-are-doing-on-25-april-2021\/\">\r\n                            What the markets are doing on 25 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\/25\/what-the-markets-are-doing-on-25-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\/25\/what-the-markets-are-doing-on-25-april-2021\/')\">\n           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\r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/what-the-markets-are-doing-on-25-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561884\" class=\"content-area-description single-story post-561884 post type-post status-publish format-standard hentry category-planet-finance tag-ant-group tag-china tag-enterpriseam tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a><strong> It\u2019s a big earnings week stateside this week:<\/strong> More than a third of the S&amp;P500\u2019s constituents are set to report 1Q earnings this week, including Apple, Tesla, Amazon and Alphabet, <a href=\"https:\/\/www.wsj.com\/articles\/tesla-apple-and-amazon-headline-a-heavy-earnings-week-11619272838?mod=hp_lead_pos4\">the Wall Street Journal<\/a> reports. A total of 181 companies will publish their figures, starting with Tesla on Monday, with Microsoft and Alphabet following on Tuesday.<\/p><p><strong>Ant Group could be forced to hand over consumer data to a new Chinese<\/strong><strong> state-backed credit-scoring company<\/strong> set up to wrest control of tech companies\u2019 data as Beijing takes an increasingly hard line against them, <a href=\"https:\/\/www.ft.com\/content\/1dbc6256-c8cd-48c1-9a0f-bb83a578a42e\">the Financial Times<\/a> reports, citing unnamed sources with direct knowledge of the matter. To downplay government intervention, the Alibaba affiliate is reportedly looking to lead the new entity, which would serve rival financial institutions including state lenders, a former banker who formerly worked with Ant Group tells the newspaper. For now, Chinese regulators have given tech companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c85ba90a-d457-457c-85a0-7f8cc82431f2\">a month to clear up anti-competitive practices<\/a> following the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ac16eb0-26c5-4511-9a18-5742b522604d\">antitrust ruling<\/a> against e-commerce giant Alibaba which saw it slapped with a record USD 2.8 bn fine.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,600<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>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-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,134<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +16.6%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,101<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +20.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,625<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +5.4%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,180<\/p>\n<\/td>\n<td>\n<p>+1.1% (YTD: +11.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,938<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +7.4%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 66.11<\/p>\n<\/td>\n<td>\n<p>+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.73<\/p>\n<\/td>\n<td>\n<p>-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,777.80<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/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 50,379<\/p>\n<\/td>\n<td>\n<p>-0.5% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 0.4% on Thursday<\/strong> on turnover of EGP 923 mn (29.6% below the 90-day average). Foreign investors were net buyers. The index is down 2.3% YTD.<\/p><p><strong>In the green: <\/strong>SODIC (+4.8%), Orascom Development (+2.4%) and Orascom Financial (+1.7%).<\/p><p><strong>In the red: <\/strong>AMOC (-1.6%), CIB (-1.2%) and Fawry (-1.1%).<\/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\/ant-group\/\">Ant Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"561885\" 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=\"561885\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/swiss-launch-lebanon-central-bank-embezzlement-probe\/\">\r\n                            Swiss launch Lebanon central bank embezzlement probe                        <\/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\/25\/swiss-launch-lebanon-central-bank-embezzlement-probe\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n           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href=\"https:\/\/api.whatsapp.com\/send?text=Swiss+launch+Lebanon+central+bank+embezzlement+probe+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F04%2F25%2Fswiss-launch-lebanon-central-bank-embezzlement-probe%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\/25\/swiss-launch-lebanon-central-bank-embezzlement-probe\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561885\" class=\"content-area-description single-story post-561885 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseam tag-hamas tag-israel tag-lebanon tag-palestine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Lebanon\u2019s central bank governor hit by another scandal: <\/strong>Switzerland\u2019s attorney general is investigating allegations that Lebanon\u2019s central bank governor Riad Salameh and his brother embezzled more than USD 300 mn of central bank money, the <a href=\"https:\/\/www.ft.com\/content\/106b1ddd-d8dc-49e5-90ec-eb216c147125\">Financial Times<\/a> reports.<\/p>\n<p><strong>Tensions are rising on the Israel-Gaza border<\/strong> after a weekend of clashes in Jerusalem between Palestinians and far-right Israelis yesterday prompted a volley of rocket fire into Israel from militant groups in Gaza, <a href=\"https:\/\/apnews.com\/article\/israel-gaza-strip-middle-east-religion-jerusalem-e37ec6fe6f28f254cd617e9b4a206d3e\">the Associated Press<\/a> reports.<\/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\/hamas\/\">Hamas<\/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\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/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=\"561886\" 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\/25\/your-essential-business-calendar-on-25-april-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-561886\" class=\"content-area-description single-story post-561886 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>25 April (Sunday): Sinai Liberation Day (formal observance, no holiday).<\/p>\n<p>27 April (Tuesday): Finance Minister Mohamed Maait will address AmCham\u2019s Pre-Annual General Meeting to discuss Egypt\u2019s economic reform beyond the pandemic.<\/p>\n<p>29 April (Thursday): National holiday in observance of Sinai Liberation Day.<\/p>\n<p>29 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates. (timing TBC based on national holiday)<\/p>\n<p>1 May (Saturday): Labor Day (national holiday).<\/p>\n<p>2 May (Sunday): Coptic Easter Sunday (holiday for Coptic Christians, still unclear whether it will be a banking holiday)<\/p>\n<p>3 May (Monday): Sham El Nessim (date of the national holiday still TBC)<\/p>\n<p>13-15 May (Thursday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>16-19 May (Sunday-Wednesday): The Arabian Travel Market (ATM) takes place in Dubai.<\/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): Egypt Petroleum Show, 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): The Big 5 Construct Egypt, 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 will suffer a host of penalties, 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): Sahara Expo: 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): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The 54th session of the Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai 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) Mediterranean Offshore Conference, 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): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo<\/p>\n<p>13-17 December: United Nations Convention against Corruption, 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): World University Squash Championships, New Giza.<\/p>\n<p>Note to readers: 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":561859,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-561858","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d736a73c-e834-4ce6-a424-78a75fc39fa2","teaser":"","photo_url":"https:\/\/ent.news\/2021\/4\/245.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>Russian tourists to return to Egypt next month, 1 mn visitors could land this year - 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\/russian-tourists-to-return-to-egypt-next-month-1-mn-visitors-could-land-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russian tourists to return to Egypt next month, 1 mn visitors could land this year\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/russian-tourists-to-return-to-egypt-next-month-1-mn-visitors-could-land-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:29:01+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\/245.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\/russian-tourists-to-return-to-egypt-next-month-1-mn-visitors-could-land-this-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/russian-tourists-to-return-to-egypt-next-month-1-mn-visitors-could-land-this-year\/\",\"name\":\"Russian tourists to return to Egypt next month, 1 mn visitors could land this year - 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