{"id":562303,"date":"2021-05-19T04:03:19","date_gmt":"2021-05-19T04:03:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562303"},"modified":"2025-12-16T03:39:35","modified_gmt":"2025-12-16T03:39:35","slug":"are-we-in-for-an-ipo-heavy-second-half-of-the-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/are-we-in-for-an-ipo-heavy-second-half-of-the-year\/","title":{"rendered":"Are we in for an IPO-heavy second half of the year?"},"content":{"rendered":"<section id=\"562305\" 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=\"562305\">\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\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/\">\r\n                            THIS MORNING: Farid signals new listings, stake sales are in the offing \u2014 and there\u2019s still no ceasefire in Gaza                        <\/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\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/\" 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\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/')\">\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\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/\">\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=THIS MORNING: Farid signals new listings, stake sales are in the offing \u2014 and there\u2019s still no ceasefire in Gaza&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/\">\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\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/&title=THIS MORNING: Farid signals new listings, stake sales are in the offing \u2014 and there\u2019s still no ceasefire in Gaza\">\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=THIS+MORNING%3A+Farid+signals+new+listings%2C+stake+sales+are+in+the+offing+%E2%80%94+and+there%E2%80%99s+still+no+ceasefire+in+Gaza+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fthis-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza%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\/05\/19\/this-morning-farid-signals-new-listings-stake-sales-are-in-the-offing-and-theres-still-no-ceasefire-in-gaza\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562305\" class=\"content-area-description single-story post-562305 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-cyprus tag-enterpriseam tag-greece tag-mohamed-zaki tag-nikos-dendias tag-palestine tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, everyone. The big news here at home this morning: We could see as <\/strong><strong>many as five more companies offering shares on the Egyptian Exchange<\/strong> before the year is out. EGX boss Mohamed Farid did not specify yesterday how many of the transactions were likely to be initial public offerings vs. stake sales by already-listed firms or technical listings. Several state-owned companies that are already quoted on the EGX have been on deck to sell more shares in a process that has been stalled since before the pandemic.<\/p>\n<p><strong>First up on Farid\u2019s list: Shares of LSE-listed Integrated Diagnostics Holding (IDH) are set <\/strong><strong>to begin trading on the EGX<\/strong> tomorrow under the ticker IDHC. IDH\u2019s technical listing will make it the second company to debut on the Egyptian bourse this year, after higher education outfit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94e97ae5-4a3e-46a4-8dca-243163201344\">Taaleem<\/a>, which ended nearly two-year-long IPO drought. We have more in this morning\u2019s news well, below. IDH is the parent company of local giants Al Borg and Al Mokhtabar labs and operates in Egypt, Jordan, Sudan and Nigeria. <strong>The first-half IPO window is now starting to close<\/strong> and is unlikely to reopen before September.<\/p>\n<p><strong>We\u2019re also keeping a close eye on the state of play in the nation\u2019s vaccination drive <\/strong>after reports that <strong>the UAE is planning to offer third shots of Sinopharm\u2019s jab <\/strong>in the form of boosters \u2014 raising fresh concerns about how reliable the Chinese jab is. This comes at the same time as there are signals <strong>Covax may be slowing delivery of AstraZeneca\u2019s vaccine <\/strong>to countries like Egypt as India, a top supplier to the initiative, keeps shots at home. We have more on this, too, in the news well.<\/p>\n<p><strong>THE BIG STORY INTERNATIONALLY <\/strong><strong>continues to be the elusiveness of a cease-fire<\/strong><strong> between Israel and Hamas<\/strong> as the Israeli military continued to pummel the Gaza Strip with airstrikes. We have the latest updates in Around the World, below.<\/p>\n<p><strong>*** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>The latest in the Alex Medical race:<\/strong> Nile Misr Healthcare <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/218c7352-0cef-4fe6-8e25-9036ef8db465\">plans to lower its bid<\/a> for Alexandria Medical Services following <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8bcdeedc-6ea2-4492-adf0-c0dad0bff1f1\">Cleopatra Hospital Group\u2019s offer<\/a>.<\/li>\n<li><strong>A bumper series A round:<\/strong> Egyptian furniture marketplace Homzmart has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52260fc8-f1aa-4e34-ba4d-a17fc5d9e42b\">raised USD 15 mn<\/a> in series A funding.<\/li>\n<li><strong>A new e-payments player:<\/strong> Banque du Caire\u2019s new e-payments arm Tally <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e875533d-d758-43d5-9fe1-aff9130f0091\">will launch<\/a> before the end of the year.<\/li>\n<\/ul>\n<p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p>\n<p><strong>Defense Minister Mohamed Zaki is in Nicosia today<\/strong> for talks with military officials from Greece and Cyprus, the Armed Forces said in <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/2339487549515547\">a statement<\/a> yesterday, without providing further information.<\/p>\n<p><strong>This comes ahead of Greek Foreign Minister Nikos Dendias\u2019 <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e880b83f-e080-493f-ad62-c1cdcc31482b\">visit to Cairo tomorrow<\/a><\/strong><strong>.<\/strong> The minister will be sitting down with FM Sameh Shoukry after visiting Israel, Palestine and Jordan in a regional tour that takes place amid escalation between Israel and Hamas. Shoukry, Dendias and Dutch Foreign Minister Stef Blok discussed efforts to reach a ceasefire during a phone call on Monday.<\/p>\n<p>Both <strong><a href=\"https:\/\/ent.news\/2021\/5\/Research-avior-conference-17-May-21-English.pdf\">HC Securities<\/a><\/strong> and <strong><a href=\"https:\/\/events.rencap.com\/MENAconference\/#18-May\">RenCap<\/a><\/strong>\u2019s investor conferences continue today and end tomorrow.<\/p>\n<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<\/p><\/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    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Africa-based startups have until 26 May to sign up for France\u2019s AFD Digital Challenge<\/strong>, an annual<a href=\"https:\/\/ent.news\/2021\/5\/LAUNCH-OF-THE-FIFTH-EDITION-OF-THE-AFD-DIGITAL-CHALLENGE.docx.pdf\">startup competition (pdf)<\/a> by the French Development Agency (AFD). This year, the competition involves startups finding solutions to curb the carbon impact of economic activities or promote sustainable economic activity and the use of natural resources. The 10 startups chosen will receive an \u201cacceleration pack,\u201d a package of technical and financial support worth EUR 20k.<\/p>\n<p><strong>An updated version of the government\u2019s Egypt sustainable development strategy,<\/strong><strong> Egypt Vision 2030, will be published next month<\/strong>, Planning Minister Hala El Said <a href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/4726943620655747\">said yesterday<\/a>. The strategy will be updated to account for the effects of covid-19, the minister said, without providing further details.<\/p>\n<p><strong>The IMF will complete by the end of June a second review of targets set under Egypt\u2019s<\/strong><strong> USD 5.2 bn standby facility.<\/strong> The facility was approved<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">in June 2020<\/a>.<\/p>\n<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<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development as well as social infrastructure such as health and education.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>We take a look at the Arab Petroleum Investments Corporation\u2019s (Apicorp) outlook for the MENA region\u2019s energy landscape, which the multilateral development bank expects will see a modest increase in net investment over the next five years as the global economy recovers from the pandemic.<\/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\/cyprus\/\">Cyprus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-zaki\/\">Mohamed Zaki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nikos-dendias\/\">Nikos Dendias<\/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                            <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=\"562306\" 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=\"562306\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/562306\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562306\" class=\"content-area-description single-story post-562306 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 decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/SOMA-ENTERPRISE-VAX-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=\"562307\" 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=\"562307\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/are-we-in-for-an-ipo-heavy-2h2021\/\">\r\n                            Are we in for an IPO-heavy 2H2021?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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      <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/are-we-in-for-an-ipo-heavy-2h2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/148.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562308\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/are-we-in-for-an-ipo-heavy-2h2021\/148-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/148.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"148.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/148.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/148.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562307\" class=\"content-area-description single-story post-562307 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-banque-du-caire tag-e-finance tag-ebtikar tag-egx tag-enterpriseam tag-hisham-tawfik tag-integrated-diagnostics-holding tag-ipo-watch tag-macro-group tag-mohamed-farid tag-national-service-products-organization tag-state-privatization-program tag-taaleem wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The Egyptian Exchange could see as many as five more companies offer shares for sale before the year is out,<\/strong> EGX Chairman Mohamed Farid told CNBC Arabia, confirming a statement he made <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b12e641-eaa3-4c61-899d-d0e7afb273bf\">last month<\/a> (<a href=\"https:\/\/bit.ly\/3v3I5fk\">watch, runtime: 1:23<\/a>). According to Farid, two or three companies could offer their shares on the EGX in the back half of 2021, but the EGX boss did not specify whether they were private- or public-sector companies, whether the listings would be primary or secondary offerings, or whether he was including stake sales by already-listed companies in the tally.<\/p>\n<p><strong>The fresh listings in the pipeline are in addition to Macro Pharma<\/strong>, Farid noted. The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\">postponed its planned listing to the fall window<\/a>, citing concern over the market\u2019s capacity to absorb multiple offerings. Multibrand higher education outfit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efe90c27-9d82-4363-b78d-b70a052f2cd7\">Taaleem started trading last month<\/a> and London-listed consumer healthcare giant IDH is set to begin trading tomorrow.<\/p>\n<p><strong>Who else might be selling shares this year?<\/strong> Though Farid did not identify companies by name, analysts we spoke with earlier this year for our first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5043975b-3664-4d29-a25b-cd9f6c9db0be\">EnterprisePM IPO Poll<\/a> tapped the following as likely candidates for the 2H2021 IPO pipeline:<\/p>\n<ul>\n<li>NBFS player <strong>Ebtikar<\/strong> <\/li>\n<li>State-owned <strong>e-Finance<\/strong> <\/li>\n<li>State-owned <strong>Banque du Caire<\/strong><\/li>\n<\/ul>\n<p><strong>What\u2019s going on with transactions coming out of the state privatization program?<\/strong> Public Enterprises Minister Hisham Tawfik had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c843e67-c38f-4481-b7a2-84e4373812b8\">said in April<\/a> that the program could be revived with at least two stake sales in 3Q2021, while e-Finance Chairman Ibrahim Sarhan <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dcf72de-83f0-4f8b-a789-7f634c29f006\">said<\/a> the e-payments firm is expected to IPO in 2H2021. We <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe83dcb9-73a2-4e07-bf83-368fdb303009\">could also see IPOs<\/a> from the military\u2019s National Service Products Organization this year, with the Sovereign Fund of Egypt currently studying a handful of companies to offer for co-investment.<\/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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebtikar\/\">Ebtikar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-tawfik\/\">Hisham Tawfik<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-service-products-organization\/\">National Service Products Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taaleem\/\">Taaleem<\/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=\"562309\" 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=\"562309\">\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\/05\/19\/egypts-gdp-is-on-track-to-grow-4-2-in-2021-rencap\/\">\r\n                            Egypt\u2019s GDP is on track to grow 4.2% in 2021 \u2013RenCap                        <\/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\/05\/19\/egypts-gdp-is-on-track-to-grow-4-2-in-2021-rencap\/\" 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 an upward revision from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c2facb0-b5e1-42dd-aafc-6804b7f7bc76\">2.8% RenCap had forecast<\/a> for Egypt\u2019s GDP growth in 2021 at the end of last year. The investment bank is maintaining its expectations that Egypt will manage to eke out growth this year, as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99c37ce8-a356-4bc1-a235-68278c8f7ed9\">GDP grew 2% y-o-y in 4Q2020<\/a>.<\/p>\n<p><strong>GDP growth is picking up slowly but surely q-o-q:<\/strong> While 4Q2020\u2019s growth rate \u201cmay be a slowdown\u201d from the 5.7% y-o-y rate recorded one year earlier in 4Q2019, q-o-q growth was better, acting head of research in Africa Yvonne Mhango said. On a quarterly basis, GDP grew 1.3% in 4Q2020, \u201cwhich implies a recovery is underway.\u201d <strong>Egypt\u2019s economy expanded at a 1.5% clip in 2020, down from 5.6% in 2019.<\/strong><\/p>\n<p><strong>Inflation is expected to remain contained in the short term:<\/strong> RenCap sees annual urban headline inflation ending the year at 4.3% \u2014 a little over the 4.1% recorded in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d82773c-16b8-4e19-956b-28cf55f425a6\">April<\/a> when inflation slowed against expectations. \u201cThis implies inflation will remain contained, and well within the authorities\u2019 target of 7% (+\/- 2%) for 4Q2021,\u201d Mhango said.<\/p>\n<p><strong>But the global rally in food and metal prices <\/strong><strong>could soon directly hit consumers here at home<\/strong>, with analysts forecasting heightened inflation as a result of the year-long rally. Higher raw material prices could then increase the cost of local production and boost prices at the cash register as we head further into 2021, Pharos\u2019 head of research Radwa El Swaify and Beltone\u2019s Alia Mamdouh <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2fb13174-3377-49ef-8300-480e0abee206\">previously said<\/a>. Domestic inflation, which has so far been shrugging off rising global commodity prices due to a favorable base effect, is seen as a potential \u201cupside risk\u201d from the recent boom in oil prices, which may reflect negatively on prices of non-food commodities.<\/p>\n<p><strong>What about changes to interest rates? Not this year \u2014 and not in 2021 if inflation remains contained within the \u201csingle-digit\u201d limits <\/strong>in \u201cthe short term,\u201d Mhango said. \u201cEgypt\u2019s low inflation implies it has relatively high real rates on its bonds relative to its [emerging market] peers, which should help sustain foreign investors interest in the local bond market,\u201d she added. The Central Bank of Egypt (CBE) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c5d1ef9-6305-4119-a57e-4a6f45c6f2d5\">left rates on hold<\/a> earlier this month for a fourth consecutive meeting as policymakers looked to maintain the attractiveness of Egypt\u2019s carry trade, capitalizing on rising commodity prices and rising US interest rates.<\/p>\n<p><strong>And the EGP could come under a bit of pressure<\/strong>, RenCap said, suggesting it is as much as 13% overvalued against the USD. In the short-term, the EGP will remain \u201cbroadly stable\u201d on the back of relatively high real rates, which have helped attract higher capital inflows to Egypt than its emerging-market peers.<\/p>\n<p><strong>MORE FROM THE <\/strong><strong>CRYSTAL BALL SET<\/strong><strong>-<\/strong> Egypt will likely reel in USD 7 bn in tourism revenues in FY2021-2022, but this figure will be contingent on the global vaccination rate, EFG Hermes\u2019 Mohamed Abu Basha said, according to <a href=\"https:\/\/bit.ly\/3hCsLCc\">Al Mal<\/a>. Abu Basha\u2019s projection is on par with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44e7eec9-9292-4bf9-9d3a-557d9053d950\">Bank of America\u2019s forecasts<\/a> for Egypt\u2019s tourism revenues in calendar year 2022, but falls short of the USD 8 bn that Tourism Minister Khaled Enany said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6405eda-1bf2-43d9-8236-f947f937034b\">earlier this week<\/a> the country is hoping to bring in during the current calendar 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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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\/renaissance-capital\/\">Renaissance Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562311\" 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=\"562311\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/\">\r\n                            Speed Medical to acquire 25% stake in software company + get in on consumer lending                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Speed Medical to acquire 25% stake in software company + get in on consumer lending&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/&title=Speed Medical to acquire 25% stake in software company + get in on consumer lending\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Speed+Medical+to+acquire+25%25+stake+in+software+company+%2B+get+in+on+consumer+lending+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fspeed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/speed-medical-to-acquire-25-stake-in-software-company-get-in-on-consumer-lending\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562311\" class=\"content-area-description single-story post-562311 post type-post status-publish format-standard hentry category-ma-watch tag-enterpriseam tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Speed Medical is planning to snap up a 25% stake in <\/strong><strong><a href=\"http:\/\/www.dg-well.com\/\">DG Well<\/a><\/strong>, a software company that owns the <a href=\"https:\/\/caresquare.app\/\">CareSquare<\/a> healthcare app, the company said in <a href=\"https:\/\/ent.news\/2021\/5\/262714_1.pdf\">a disclosure to the EGX (pdf)<\/a> yesterday. The two sides have signed an MoU for the transaction, which would value the stake at EGP 22.5 mn, Speed said.<\/p>\n<p><strong>The company is also looking to get into the consumer finance game:<\/strong> Speed Medical will set up a consumer lending arm dubbed Speed Finance that will provide finance for medical and pharma services, the company said. Services provided by CareSquare, which acts as an online directory of medical professionals, will be combined with Speed Finance\u2019s services should the acquisition go ahead, the company said. Speed Medical will own 50% of the company, which will launch with EGP 25 mn in capital. Sources told <a href=\"https:\/\/almalnews.com\/%D8%B3%D8%A8%D9%8A%D8%AF-%D9%85%D9%8A%D8%AF%D9%8A%D9%83%D8%A7%D9%84-%D8%AA%D8%B3%D8%AA%D8%AD%D9%88%D8%B0-%D8%B9%D9%84%D9%89-25-%D9%85%D9%86-%D8%AF%D9%8A%D8%AC%D9%8A%D8%AA%D8%A7%D9%84\/?__cf_chl_jschl_tk__=ca685378e14e6acd7e7c57712af2248498df09df-1621352863-0-AWUbKwAkZNqiMOj4ZEkDw8QZepNiCiKJpLNlvy29EoClVEuuoh_PzHeKYuMY5iVybZLpL00WcWrlrTd9hNgab3aUhQ3-1h2IqiSjrH88BCFJ9u8Vcn2BHTIg86SggzauhKkocCjr7IFP0ecCIXtv0apFHOqdIOp_62jJtBDAgXCpGvUcpegfaAAYgZg_gm54nf5tGKc_lMKur4WxFYGgGYIKr8GN4lIMSc8p80LYMwXDzKaGASEzgPoL27yEC5iJI1GsezqjtqK2wctcnRGHqgQJPN7x95aRMxZl7OWFQ2wq7qKgPeanQPSkuFJL_aquNdW7rHI1qMKwuASeYWwwf9MUO-IHWsbw4kOwBQjs4w5HVzya8lNUfdWIlMgnJt1b_sMbVErhDXyn81pV3mtbRqqGRC2YOTXiCOCxW64D-tHTYnjPS8f2DRvhETyGpeo-SUUJgQUyi6JAT_zO0Mfsco8DzvrB3NL8NbDPfwHH5buV9MtMvfMOiXf0ZtbkIwE_Bpmkuj6umSJaOR33Z5LKDwOQ4rpaVo4PyF3R2489aH7gpzvrQIOWjnL8uhjUA-R1F5jpwGgK_Q6zLnR2r7-yDiFVVG25MPgGybJyFKLFjgQDDY-YcZ0mHfFALK5XeBv7KA\">Al Mal<\/a> that 40% will be offered to investors and 10% will be owned by DG Well.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562312\" 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=\"562312\">\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\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/\">\r\n                            We could see less AstraZeneca in Egypt just as fresh questions arise about Chinese vaccines                        <\/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\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/\" 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\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/')\">\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\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=We could see less AstraZeneca in Egypt just as fresh questions arise about Chinese vaccines&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/\">\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\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/&title=We could see less AstraZeneca in Egypt just as fresh questions arise about Chinese vaccines\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=We+could+see+less+AstraZeneca+in+Egypt+just+as+fresh+questions+arise+about+Chinese+vaccines+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fwe-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines%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\/05\/19\/we-could-see-less-astrazeneca-in-egypt-just-as-fresh-questions-arise-about-chinese-vaccines\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562312\" class=\"content-area-description single-story post-562312 post type-post status-publish format-standard hentry category-covid-watch tag-africa tag-astrazeneca tag-china tag-covax tag-covid-19 tag-enterpriseam tag-europe tag-joe-biden tag-russia tag-us 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>Vaccine producer the Serum Institute of India (SII) is planning to extend its suspension on exporting the Oxford \/ AstraZeneca vaccine until the end of the year<\/strong>, SII CEO Adar Poonawalla said yesterday, according to the <a href=\"https:\/\/www.ft.com\/content\/63fbbb79-f657-4e6c-b190-cffd0d630593\">Financial Times<\/a>. The extension is meant to allow SII to better prioritize delivering vaccines to India, which is buckling under the weight of a third wave of covid-19. SII probably won\u2019t resume \u201csizable exports\u201d before October at the earliest, <a href=\"https:\/\/www.reuters.com\/world\/india\/exclusive-india-unlikely-resume-sizable-covid-19-vaccine-exports-until-october-2021-05-18\/\">Reuters<\/a> reports. Covax primarily depends on the AstraZeneca jabs SII manufactures.<\/p>\n<p><strong>What does this mean for Egypt?<\/strong> The fate of the rest of Egypt\u2019s vaccine doses from the Gavi \/ Covax scheme is currently unclear. We received a 1.7 mn-dose shipment of the AstraZeneca vaccine from Covax earlier this month, bringing the total number of jabs Egypt has received from the program to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2163464-a9ac-4917-886b-6946be359b18\">around 2.55 mn doses<\/a>.<\/p>\n<p><strong>We\u2019re also expecting to receive <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/778ac637-20cd-4dca-b2d2-33705ec0d824\">another batch of 1.7 mn doses<\/a><\/strong><strong> before the end of May<\/strong>, meaning we could have a clearer idea of how Egypt\u2019s vaccine supply will be affected in the next couple of weeks. The uncertainty comes a few weeks before state-owned Vacsera is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff94c5e9-c386-45d1-80cd-279861fb2f35\">expected to churn out<\/a> some 2 mn doses of China\u2019s Sinovac vaccine, and suggests that plans to domestically produce other jabs (including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f26e1432-d88a-4d80-a628-e03687889ed5\">Sputnik<\/a>) will become all the more important.<\/p>\n<p><strong>That comes as new questions are being asked about the efficacy of China\u2019s high-profile <\/strong><strong>Sinopharm jab. <\/strong>The UAE will begin offering a third \u201csupportive\u201d dose of the Sinopharm vaccine \u2014 which has so far been administered as a two-shot jab \u2014 to individuals who received the second dose of the vaccine at least six months ago, the UAE\u2019s National Emergency Crisis and Disaster Management Authority <a href=\"https:\/\/twitter.com\/NCEMAUAE\/status\/1394669800853495808\">said yesterday<\/a>. Sinopharm had been testing earlier this year whether a third booster shot would help increase the vaccine\u2019s effectiveness. It is widely expected that annual boosters of covid-19 vaccines will be the norm to protect against mutations and variants.<\/p>\n<p><strong>US pledges to boost vaccine exports:<\/strong> President Joe Biden has promised to share at least 80 mn doses of covid-19 vaccines with other countries by the end of June, <a href=\"https:\/\/www.wsj.com\/articles\/biden-to-commit-to-exporting-covid-19-vaccines-by-end-of-june-11621269053?mod=hp_lead_pos6\">the Wall Street Journal<\/a> reports. The government has faced international backlash over export restrictions that prioritized the vaccination of US citizens over other countries.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/384106613139957\">reported<\/a><\/strong><strong> 1,169 new covid-19 infections yesterday<\/strong>, down from 1,188 the day before. Egypt has now disclosed a total of 248,078 confirmed cases of covid-19. The ministry also reported 53 new deaths, bringing the country\u2019s total death toll to 14,441.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/covax\/\">Covax<\/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\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562313\" 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=\"562313\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/\">\r\n                            IDA exec regs are the law of the land + sovereign sukuk inch closer to legislative clearance                        <\/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\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/\" 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\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/')\">\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\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/\">\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=IDA exec regs are the law of the land + sovereign sukuk inch closer to legislative clearance&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/\">\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\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/&title=IDA exec regs are the law of the land + sovereign sukuk inch closer to legislative clearance\">\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=IDA+exec+regs+are+the+law+of+the+land+%2B+sovereign+sukuk+inch+closer+to+legislative+clearance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance%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\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/152.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562314\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/ida-exec-regs-are-the-law-of-the-land-sovereign-sukuk-inch-closer-to-legislative-clearance\/152-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/152.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"152.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/152.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/152.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562313\" class=\"content-area-description single-story post-562313 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-house-of-representatives tag-industrial-development-authority tag-legislation-watch tag-senate tag-sukuk tag-trade-and-industry-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The wait is over for industrial investors: <\/strong>The executive regulations to the law regulating the Industrial Development Authority (IDA) come into effect today after being published yesterday in the <a href=\"https:\/\/ent.news\/2021\/5\/Executive-regs.pdf\">Official Gazette (pdf)<\/a>, the Trade and Industry Ministry said in a <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/3964135653655206\">statement<\/a>. The ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0084785-1c4f-47a2-a348-54b37d09c267\">approved the regulations<\/a> earlier this month, setting rules for non-industrial developments within industrial zones as well as for how the IDA will price its services. This is in addition to the mechanism that controls rent, sale, and usufruct prices for lands in industrial zones.<\/p>\n<p><strong>Our sovereign sukuk are inching closer to legislative clearance:<\/strong> The House Economic Committee gave its final sign-off to the Sovereign Sukuk Act yesterday, after the Senate approved the law earlier this week, <a href=\"https:\/\/bit.ly\/3yuI8TB\">Masrawy<\/a> reports. The bill sets the framework that will regulate Egypt\u2019s sovereign sukuk issuances, including governing how the sharia-compliant debt is securitized and traded.<\/p>\n<p><strong>Didn\u2019t the House Economic Committee already give its blessing?<\/strong> The committee had approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb78de06-8229-4852-88ad-b83851ed0f85\">in February<\/a> amendments to the Act, which included laying out the terms and processes for sukuk issuances, as well as setting up an oversight committee to assess how the sukuk are priced and where the funding will go. The act has since made its way through the Senate and the Council of State (Maglis El Dawla) for further review and suggestions. Yesterday\u2019s approval is on the final text of the act.<\/p>\n<p><strong>What\u2019s next:<\/strong> The House of Representatives\u2019 general assembly needs to give the act its final rubber stamp before being sent to President Abdel Fattah El Sisi for ratification. The executive regulations to the law are expected to be issued within three months after that.<\/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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-authority\/\">Industrial Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade-and-industry-ministry\/\">Trade and Industry Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562315\" 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=\"562315\">\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\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/\">\r\n                            Shoei Kisen submits second appeal against Ever Given seizure                        <\/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\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/\" 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\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/')\">\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\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/\">\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=Shoei Kisen submits second appeal against Ever Given seizure&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/\">\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\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/&title=Shoei Kisen submits second appeal against Ever Given seizure\">\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=Shoei+Kisen+submits+second+appeal+against+Ever+Given+seizure+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fshoei-kisen-submits-second-appeal-against-ever-given-seizure%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\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/153.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562316\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/shoei-kisen-submits-second-appeal-against-ever-given-seizure\/153-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/153.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"153.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/153.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/153.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562315\" class=\"content-area-description single-story post-562315 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-06\"><\/a> <strong>A new appeal from Ever Given owner Shoei Kisen will be on the agenda for an<\/strong><strong> Ismailia court this Saturday, 22 May<\/strong>, after company lawyers submitted a second appeal yesterday against the seizure of the mega vessel, <a href=\"https:\/\/www.youm7.com\/story\/2021\/5\/18\/%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%83%D8%A9-%D9%84%D9%80-%D8%A5%D9%8A%D9%81%D8%B1%D8%AC%D9%8A%D9%81%D9%86-%D8%AA%D8%B3%D8%AA%D8%A3%D9%86%D9%81-%D8%B9%D9%84%D9%89-%D9%82%D8%B1%D8%A7%D8%B1-%D8%A7%D9%84%D8%AA%D8%AD%D9%81%D8%B8-%D8%B9%D9%84%D9%8A%D9%87%D8%A7-%D8%A8%D8%A8%D8%AD%D9%8A%D8%B1%D8%A7%D8%AA\/5324507\">Youm7<\/a> reports. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0d1f705-8ca1-436a-a17c-51b37b086a92\">Earlier this month<\/a>, the court had rejected Shoei Kisen\u2019s first appeal against a decision allowing the Suez Canal Authority to seize the Ever Given until it receives payment of over USD 900 mn in compensation for losses incurred by the Ever Given\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dadbd6d3-070d-4c92-a080-62ebf8ceced1\">week-long blockage<\/a> of the Suez Canal in March. The court is also set to reassess on Saturday the Ever Given\u2019s status. Negotiations for a settlement are ongoing as the ship continues to be held in the Great Bitter Lake.<\/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=\"562317\" 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=\"562317\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/\">\r\n                            Sidpec rebounds from tumultuous 2020 in 1Q                        <\/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\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/\" 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\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/')\">\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\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/\">\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=Sidpec rebounds from tumultuous 2020 in 1Q&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/\">\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\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/&title=Sidpec rebounds from tumultuous 2020 in 1Q\">\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=Sidpec+rebounds+from+tumultuous+2020+in+1Q+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fsidpec-rebounds-from-tumultuous-2020-in-1q%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\/05\/19\/sidpec-rebounds-from-tumultuous-2020-in-1q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562317\" class=\"content-area-description single-story post-562317 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-petrochemicals tag-sidi-kerir-petrochemicals wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Sidpec is beginning to recover from last year\u2019s tumult in the energy markets:<\/strong> Sidi Kerir Petrochemicals (Sidpec) generated net income of EGP 151.7 mn in 1Q2021, against losses of EGP 31.3 mn during the same quarter a year earlier, the company said in its quarterly <a href=\"https:\/\/ent.news\/2021\/5\/Sidi-Kerir-financials-Q1.pdf\">earnings release (pdf)<\/a>. Net sales jumped 38% during the quarter, hitting EGP 1.3 bn compared to EGP 951 mn in 1Q2020. The crash in energy prices last year hit the company hard, causing profits to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7633656a-5acc-47b5-8ee7-4545b743a619\">plunge almost 20x to EGP 26 mn<\/a> from EGP 487 mn in 2019.<\/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\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/petrochemicals\/\">petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/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=\"562318\" 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=\"562318\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/562318\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562318\" class=\"content-area-description single-story post-562318 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 decoding=\"async\" data-recalc-dims=\"1\" 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=\"562319\" 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=\"562319\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/last-nights-talk-shows-le3bet-newton-and-cancerous-watermelons\/\">\r\n                            Last Night\u2019s Talk Shows: Le3bet Newton and cancerous watermelons                        <\/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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           <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562319\" class=\"content-area-description single-story post-562319 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was another humdrum evening on the airwaves last night.<\/strong> El Hekaya\u2019s Amr Adib appears to still be basking in the sun on an extended Eid holiday, while Kelma Akhira\u2019s Lamees El Hadidi had an extended sit-down with the stars and creative minds behind hit Ramadan mosalsal Le3bet Newton (<a href=\"https:\/\/www.youtube.com\/watch?v=9L9yBi9Z1cY\">watch, runtime: 5:57<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=UukFXdmpHYo\">runtime: 9:02<\/a>) and Ala Mas\u2019ouleety\u2019s Ahmed Moussa kept himself busy by <strong>debunking rumors about cancerous watermelons<\/strong> (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/posts\/1922371907920614\">watch, runtime: 6:00<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562320\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row 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stk-9nik60n-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9nik60n-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562321\" 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=\"562321\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/egypt-in-the-news-on-19-may-2021\/\">\r\n                            Egypt in the News on 19 May 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\/05\/19\/egypt-in-the-news-on-19-may-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 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        <!-- <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\/05\/19\/egypt-in-the-news-on-19-may-2021\/&title=Egypt in the News on 19 May 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+19+May+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fegypt-in-the-news-on-19-may-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\/05\/19\/egypt-in-the-news-on-19-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562321\" class=\"content-area-description single-story post-562321 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-human-rights tag-human-rights-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s bid to mediate a ceasefire between Israel and Hamas is<\/strong><strong> topping coverage in the foreign press<\/strong> this morning. The Biden administration\u2019s reluctance to get involved in the process of brokering a truce means that Egypt is left with the burden of doing most of the work \u2014 but that this is also a window for Egypt to reaffirm its \u201ccentrality to the major matters of contention in the Middle East,\u201d Bobby Ghosh writes for <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-05-18\/gaza-fighting-is-a-reminder-of-egypt-s-relevance-to-the-middle-east?sref=mmeFTDW1\">Bloomberg Opinion<\/a>.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Expats on living + working in Egypt:<\/strong> Expats ranked Egypt 55th out of 59 countries in a survey measuring their satisfaction with cost of living, job security, and quality of life. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-18\/best-places-to-live-moving-to-mexico-taiwan-and-costa-rica-for-quality-of-life?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>Human rights:<\/strong> Human Rights Watch <a href=\"https:\/\/www.hrw.org\/news\/2021\/05\/18\/egypt-prisoners-family-detained-torture-complaints\">is urging<\/a> Egyptian authorities to release Hoda Abdel Hamid, who was reportedly detained after posting to Facebook a letter from her imprisoned son alleging he was subject to abuse behind bars. (<a href=\"https:\/\/apnews.com\/article\/africa-middle-east-egypt-a1fbe8abd4020fce84ff60ec44f850fe\">Associated Press<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights-watch\/\">Human Rights Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562322\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562323\" 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=\"562323\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/\">\r\n                            Higher aluminum prices from state-owned Egyptalum                        <\/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\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/\" 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\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/')\">\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\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/\">\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=Higher aluminum prices from state-owned Egyptalum&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/\">\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\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/&title=Higher aluminum prices from state-owned Egyptalum\">\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=Higher+aluminum+prices+from+state-owned+Egyptalum+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fhigher-aluminum-prices-from-state-owned-egyptalum%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\/05\/19\/higher-aluminum-prices-from-state-owned-egyptalum\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562323\" class=\"content-area-description single-story post-562323 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-commodities tag-enterpriseam tag-tax wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>State-owned aluminum producer Egyptalum has hiked prices by EGP <\/strong><strong>4k-5k per tonne <\/strong>in response to a recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbfec2c2-64ef-49fc-a8b2-6904ca4e0ddd\">Trade Ministry decision to impose duties<\/a> on imported raw materials, according to <a href=\"https:\/\/bit.ly\/33PZYlE\">Al Mal<\/a>. Aluminum producers and industry figures have been calling on authorities to review the decision, saying the duties are negatively impacting Egyptian producers.<\/p>\n<p><strong>Steel magnate Ahmed Ezz has increased holdings in his name in Ezz Steel to 32.9%<\/strong> after acquiring an additional 5.6% stake in the company, according to <a href=\"https:\/\/ent.news\/2021\/5\/Ahmed-Ezz-GDR-purchase-Ezz-Steel.pdf\">an EGX filing (pdf)<\/a>. Ezz acquired over 9 mn global depository receipts worth USD 2.1 mn each from affiliated holding company El Ezz Group Holding for Industry and Investment, whose holdings now stand at 33.45% following the transaction.<\/p>\n<p><strong>Also on our radar this morning:<\/strong> Tourism and Antiquities Minister Khaled El Enany <a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/4098914253487527\">inaugurated yesterday<\/a> <strong>two<\/strong><strong> museums<\/strong> inside Cairo International Airport housing artefacts that were stored in the Egyptian Museum in Tahrir and two other museums.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562324\" 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=\"562324\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/\">\r\n                            The CEO succession race at JPMorgan is heating up                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The CEO succession race at JPMorgan is heating up&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/&title=The CEO succession race at JPMorgan is heating up\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+CEO+succession+race+at+JPMorgan+is+heating+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fthe-ceo-succession-race-at-jpmorgan-is-heating-up%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/the-ceo-succession-race-at-jpmorgan-is-heating-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562324\" class=\"content-area-description single-story post-562324 post type-post status-publish format-standard hentry category-planet-finance 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-09\"><\/a> <strong>The CEO succession race at JPMorgan is heating up:<\/strong> Two contenders in line to succeed JPMorgan Chase CEO Jamie Dimon when he retires are being put in charge of jointly running the bank\u2019s consumer and community bank, the <a href=\"https:\/\/jpmorganchaseco.gcs-web.com\/node\/382396\/html\">bank said<\/a> in a regulatory filing. Marianne Lake, the bank\u2019s consumer lending chief, and CFO Jennifer Piepszak are both considered front-runners to replace Dimon upon his retirement, and the move to place them as co-heads of the consumer banking operation is seen as \u201cthe clearest sign yet that Dimon has in fact started the clock on the race to succeed him,\u201d <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-05-18\/jpmorgan-ceo-dimon-sets-off-a-darwinian-race-between-lake-and-piepszak?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> suggests.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,781<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: -0.6%)<\/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 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/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>10,424<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +20.0%)<\/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>6,528<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +29.4%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,705<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: +8.5%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,128<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +9.9%)<\/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>7,034<\/p>\n<\/td>\n<td>\n<ul>\n<li> (YTD: +8.9%)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 68.15<\/p>\n<\/td>\n<td>\n<p>-0.8%<\/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 3.00<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,867.60<\/p>\n<\/td>\n<td>\n<ul>\n<li> <\/li>\n<\/ul>\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 41,654.61<\/p>\n<\/td>\n<td>\n<p>-7.3%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 1.0% at yesterday\u2019s close<\/strong> on turnover of EGP 1.67 bn (25.8% above the 90-day average). Foreign investors were net sellers. The index is down 0.6% YTD.<\/p><p><strong>In the green: <\/strong>ElSewedy Electric (+6.5%), GB Auto (+6.2%) and EKH (+4.2%).<\/p><p><strong>In the red: <\/strong>Export Development Bank (-1.8%), Ibnsina Pharma (-0.7%) and CIB (-0.5%).<\/p><p><strong>Asian shares are mixed this morning<\/strong>, with major indexes down in Tokyo and Shanghai, but up in Seoul and Hong Kong. Futures suggest Wall Street and much of Europe will dip at the opening bell, with shares in Toronto on track to buck the trend.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"562325\" 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=\"562325\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/\">\r\n                            Israel + Hamas reject Egyptian proposal for ceasefire                        <\/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\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/\" 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\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/')\">\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\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/\">\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=Israel + Hamas reject Egyptian proposal for ceasefire&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/\">\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\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/&title=Israel + Hamas reject Egyptian proposal for ceasefire\">\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=Israel+%2B+Hamas+reject+Egyptian+proposal+for+ceasefire+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F19%2Fisrael-hamas-reject-egyptian-proposal-for-ceasefire%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\/05\/19\/israel-hamas-reject-egyptian-proposal-for-ceasefire\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562325\" class=\"content-area-description single-story post-562325 post type-post status-publish format-standard hentry category-around-the-world tag-amnesty-international tag-around-the-world tag-enterpriseam tag-gaza tag-imf tag-israel tag-palestine tag-tahya-misr-fund tag-un 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>Israel and Hamas both appear to have rejected an unconfirmed Egyptian proposal<\/strong><strong> to bring a ceasefire into effect as of tomorrow morning<\/strong>, Israel\u2019s N12 TV news reported yesterday, according to <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/ceasefire-still-elusive-israel-gaza-conflict-2021-05-18\/\">Reuters<\/a>. EU foreign ministers added their voice to the chorus calling for an immediate cessation of violence against civilians in Gaza, according to a statement. Though the bloc called the high number of civilian deaths \u201cunacceptable,\u201d it also said it supported Israel\u2019s right to self-defense in a proportionate manner.<\/p>\n<p><strong>Over 72k Palestinians have been displaced by Israel\u2019s eight days of airstrikes on<\/strong><strong> Gaza<\/strong>, according to a <a href=\"https:\/\/www.ochaopt.org\/content\/escalation-gaza-strip-west-bank-and-israel-flash-update-8-1200-18-may-2021\">statement<\/a> by the United Nations Office for the Coordination of Humanitarian Affairs, with Amnesty International calling on the International Criminal Court to investigate what it describes as \u201cattacks that may amount to war crimes or crimes against humanity,\u201d <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/more-than-52000-palestinians-displaced-gaza-un-aid-agency-2021-05-18\/\">Reuters<\/a> reports. The death toll of the past week\u2019s violence as of Tuesday stood at 213 Palestinians, including 61 children, the <a href=\"http:\/\/www.moh.gov.ps\/portal\/%f0%9f%87%b5%f0%9f%87%b8%d9%88%d8%b2%d8%a7%d8%b1%d8%a9-%d8%a7%d9%84%d8%b5%d8%ad%d8%a9-%d9%82%d8%b7%d8%a7%d8%b9-%d8%ba%d8%b2%d8%a9-%d8%aa%d8%ad%d8%af%d9%8a%d8%ab-%d9%84%d8%a7%d8%ac%d9%85%d8%a7-13\/\">Gaza Health Ministry<\/a> said.<\/p>\n<p><strong>Among the destroyed infrastructure from the airstrikes:<\/strong> Six hospitals and nine healthcare centers as well as a desalination plant that will affect access of about 250k people to drinking water.<\/p>\n<p><strong>Egypt will contribute USD 500 mn to the rebuilding of property and infrastructure in Gaza<\/strong>, President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d293de91-f5b0-48a6-a72e-42193fd39a20\">said<\/a> yesterday.<\/p>\n<p><strong>The Tahya Misr fund has dedicated account number 037037 at all Egyptian banks <\/strong><strong>to receive<\/strong><strong> donations for Gaza<\/strong>, <a href=\"https:\/\/hapijournal.com\/2021\/05\/18\/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%AA%D8%AD%D9%8A%D8%A7-%D9%85%D8%B5%D8%B1-%D9%8A%D8%AE%D8%B5%D8%B5-%D8%AD%D8%B3%D8%A7%D8%A8%D8%A7-%D8%A8%D9%86%D9%83%D9%8A%D8%A7-%D9%84%D8%AA%D9%84%D9%82%D9%8A-%D9%85\/\">Hapi Journal<\/a> reports. The donations will be put towards the delivery of meds and other supplies. The fund plans to launch a 100-container aid convoy to the Gaza Strip soon.<\/p>\n<hr class=\"grey-line\">\n<p><strong>IN DIPLOMACY- The IMF is keen to continue developing Egypt\u2019s \u201csuccess story,\u201d<\/strong> IMF head Kristalina Georgieva told President Abdel Fattah El Sisi during a meeting in Paris yesterday, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1155138411672204\">Ittihadiya<\/a> statement. The efficacy of Egypt\u2019s economic reforms and the resilience it has managed to achieve are an example the IMF hopes to replicate in other nations, Georgieva 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\/amnesty-international\/\">Amnesty International<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/gaza\/\">Gaza<\/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\/israel\/\">Israel<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tahya-misr-fund\/\">Tahya Misr Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"562326\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/with-a-global-rebound-afoot-mena-energy-investments-will-grow-in-2021-2025-apicorp-says\/\"> \r\n                            With a global rebound afoot, MENA energy investments will grow in 2021-2025, Apicorp says<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/with-a-global-rebound-afoot-mena-energy-investments-will-grow-in-2021-2025-apicorp-says\/\" 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 forecast is a \u201cmodest\u201d increase of USD 13 bn compared to Apicorp\u2019s 2020-2024 outlook, which penciled in USD 792 bn of investment.<\/p>\n<p><strong>What\u2019s behind the growth:<\/strong> The report attributes the uptick in energy investments in part to the recovery of the global economy as we could see \u201cwide-scale access to vaccines\u201d as early as 2021.<\/p>\n<p><strong>Remember that commodity supercycle we\u2019ve been droning on about? It\u2019s going to play into the recovery:<\/strong> Higher commodity prices and exports will help push regional GDP to grow 4% in 2021 and 3.7% in 2022, the report says, with commodity prices helping some countries \u2014 including Algeria and Iraq \u2014 more than others.<\/p>\n<p><strong>Also spurring more investments:<\/strong> Apicorp also points to the resumption of global energy demand, fast-paced growth in renewables in the region, and Libya reopening its energy projects after the country formed a unity government as key drivers of growth in regional energy investments.<\/p>\n<p><strong>The devil is in the details:<\/strong> Although total investments are up in absolute terms, signaling a certain degree of resilience in MENA\u2019s energy sphere, the 2020 downturn makes its presence known through the ratio of committed to planned investments, which \u201cfell to its lowest level over the past three five-year outlook periods,\u201d the reports says.<\/p>\n<p><strong>Where does Egypt stand?<\/strong> Overall, Egypt has a \u201chealthy pipeline\u201d of energy investments as we make our way through 2021 on good fiscal footing, according to the report. This pipeline is underpinned by the creation of the East Med Gas Forum, resuming LNG exports from the Damietta liquefaction plant after eight years in hibernation, as well as \u201csolidification of its energy transit\/trade status with SUMED and Al-Hamra Port expansions, petrochemicals development ambitions \u2026 and new infrastructure megaprojects (high-speed rail and EV manufacturing).\u201d<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/Energy-sector-investments1600px.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>In terms of energy sectors, renewables are leading the pack in MENA:<\/strong> Power infrastructure will receive the largest share of energy financing, with planned and committed projects accounting for a total of USD 250 bn by 2025 (USD 175 bn of which is planned). Of that amount, some 40% will be funding renewable energy projects which are expected to add some 3 GW of solar energy across the region by the end of 2021, doubling last year\u2019s production. Over the next five years, Apicorp sees 20 GW of solar energy coming online in the region. Although renewables still face \u201cintermittency\u201d and there is a \u201clack of utility-grade grid storage solutions,\u201d meaning fossil fuels and nuclear power will continue to be staples in MENA\u2019s energy mix, Jordan, Morocco, and Egypt (albeit \u201cto a lesser extent\u201d) are on track to meeting their renewables targets, Apicorp says.<\/p>\n<p><strong>In Egypt, our renewables ambitions \u201cremain high\u201d but the sector is being held back by regulatory issues<\/strong>, says Apicorp. Renewables in Egypt \u201cstill await the resolution of regulatory issues related to its stalled wheeling scheme and the unbundling of its power market.\u201d Our total installed renewables (including solar and wind) capacity currently stands at 2.3 GW, with another \u201c213 MW of solar PV IPP projects under construction, one 250 MW wind IPP project under construction, and 120 MW of wind capacity,\u201d which the New and Renewable Energy Authority (NREA) is building. Further down the pipeline, Egypt has another 2 GW of wind and 1 GW of solar PV projects set to be added to our capacity.<\/p>\n<p><strong>Planned petrochemical investments are also on the up and up<\/strong>, with planned petrochem investments through 2025 coming in at USD 109 bn, up USD 14.2 bn from last year\u2019s five-year outlook. On the flipside, committed investments are down by USD 7.7 bn to USD 12.5 bn, largely because several mega projects \u2014 including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5799a8e8-414d-41a5-8824-b0ee3ee1edd4\">Egyptian Refining Company\u2019s Mostorod refinery<\/a> \u2014 were closed out in 2020.<\/p>\n<p><strong>Egypt is the \u201cregional leader\u201d as far as committed petrochemical investments go<\/strong>, with Iran and Saudi Arabia in second and third places. Our placement, Apicorp says, is \u201cowed to its drive to localize its specialty chemical industries and feedstocks import substitution.\u201d<\/p>\n<p><strong>Natural gas isn\u2019t doing as hot:<\/strong> Committed natural gas investments for 2021-2025 are a bit lower than the 2020-2024 period, coming in at USD 75 bn (down from USD 84.5 bn). Apicorp attributes this dip to caution stemming from natural gas oversupply and the completion of several natural gas megaprojects in its portfolio in 2020. The bank sees planned investments in the sub-sector remaining essentially stable at USD 133 bn over the next five years. Qatar, Saudi Arabia and Iraq-based projects will be receiving the bulk of the USD 208 bn allotment which is expected to help position Saudi Arabia as a blue hydrogen net-exporter.<\/p>\n<p><strong>You can read the <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/5\/APICORP_MENAEnergyOutlook2021-2025_EN_FINAL.pdf\">full report here (pdf).<\/a><\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Avoiding Ever Given 2.0: <\/strong>Dredging work to expand the New Canal and the southern stretch of the waterway <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6238d50c-50a6-41bc-8871-eaf4f65c4de7\">began this week<\/a>.<\/li>\n<li><strong>New logistics zones:<\/strong> French shipping company CMA CGM <a href=\"https:\/\/bit.ly\/3bzxDnS\">is in talks<\/a> with Alexandria Port Authority to establish and operate two logistics areas at the port. The company will also operate and manage a new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d39db3da-5ea5-4f65-b978-02c03aadf9f4\">all-purpose terminal<\/a> at the port that is planned for 2022.<\/li>\n<li><strong>Bechtel wants in on more of Egypt\u2019s megaprojects:<\/strong> US infrastructure giant Bechtel is looking to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49b97c4c-2cbb-40e7-b539-76fb1d27cd73\">expand its business<\/a> in Egypt, with an eye to get in on more of the country\u2019s megaprojects, including managing new cities.<\/li>\n<li><strong>Future flow securitization could be a boon for infrastructure: <\/strong>Utilities and public services companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7329833c-65a7-4bdc-b31e-eb4ecc30d055\">may soon<\/a> be able to raise capital by securitizing future cashflows, a move which could be used to finance infrastructure spending.<\/li>\n<li><strong>IEA calls for halting new oil and gas exploration projects:<\/strong> The International Energy Agency (IEA) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c26d7113-1fe8-458a-a46c-a2de3ad95d8d\">is calling for an end<\/a> to new oil and gas exploration to achieve net zero carbon dioxide emissions by 2050 and meet the Paris climate goals.<\/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\/apicorp\/\">Apicorp<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy-investments\/\">energy investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/petrochemicals\/\">petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"562328\" 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\/05\/19\/your-essential-business-calendar-on-19-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562328\" class=\"content-area-description single-story post-562328 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>16-19 May (Sunday-Wednesday): The Arabian Travel Market (ATM) takes place in Dubai.<\/p>\n<p>17-20 May (Monday-Thursday): Avior-HC Egypt Virtual Conference.<\/p>\n<p>18-20 May (Tuesday-Thursday): Renaissance Capital\u2019s <a href=\"https:\/\/events.rencap.com\/MENAconference\/\">annual MENA Investor Conference<\/a>.<\/p>\n<p>20 May (Thursday): Integrated Diagnostics Holding shares begin trading on the EGX.<\/p>\n<p>20 May (Thursday): Greek Foreign Minister Nikos Dendias <a href=\"https:\/\/greekcitytimes.com\/2021\/05\/17\/dendias-israel-palestine-jordan-egypt\/\">will be in Cairo<\/a> for talks with FM Sameh Shoukry as part of a three-day regional tour amid the ongoing escalation of the Israeli-Palestinian conflict.<\/p>\n<p>20-28 May (Thursday-Friday): <a href=\"https:\/\/psaworldtour.com\/news\/view\/8528\/allam-british-open-moved-to-august-as-psa-issues-updated-calendar-for-remainder-of-2020-21-season\">Gouna International Squash Open 2021<\/a>.<\/p>\n<p>26 May (Wednesday): Final day for Africa-based startups to apply for the French government-sponsored <a href=\"https:\/\/ent.news\/2021\/5\/LAUNCH-OF-THE-FIFTH-EDITION-OF-THE-AFD-DIGITAL-CHALLENGE.docx.pdf\">AFD Digital Challenge (pdf)<\/a>.<\/p>\n<p>27-29 May (Thursday-Saturday): Informa Markets\u2019 <a href=\"https:\/\/www.nextmoveegypt.com\/en\/Forms\/Book-A-Stand.html\">Nextmove<\/a> real estate exhibition, Cairo International Convention Center, Nasr City.<\/p>\n<p>30 May (Sunday): Al Mal GTM is organizing the <a href=\"https:\/\/bit.ly\/3h8CpfX\">Portfolio Egypt<\/a> conference under the theme \u2018Growth under the weight of the pandemic.\u2019<\/p>\n<p>31 May (Monday): Egypt is hosting Trescon Global\u2019s <a href=\"https:\/\/www.tresconglobal.com\/conferences\/ai\/egypt\/\">World AI Show<\/a> with the support of ITIDA.<\/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>22-27 June (Tuesday-Sunday): The <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11445\">CIB PSA World Tour Finals<\/a> for 2020-2021 will take place in Cairo.<\/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): The IMF will complete a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>30 June (Wednesday): 30 June Revolution Day.<\/p>\n<p>30 June- 15 July: National Book Fair.<\/p>\n<p>July + August: Thanaweya Amma exams take place.<\/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>1 July (Thursday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>15 June (Saturday): EGX-listed will have to complete filing their financial disclosures for the period ended 31 March.<\/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 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>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/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><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":562304,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562303","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f9b67613-5bc4-4e5d-b50e-efb6f193d5ed","teaser":"","photo_url":"https:\/\/ent.news\/2021\/5\/147.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>Are we in for an IPO-heavy second half of the 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\/are-we-in-for-an-ipo-heavy-second-half-of-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are we in for an IPO-heavy second half of the year?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/are-we-in-for-an-ipo-heavy-second-half-of-the-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:39:35+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/147.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\/are-we-in-for-an-ipo-heavy-second-half-of-the-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/are-we-in-for-an-ipo-heavy-second-half-of-the-year\/\",\"name\":\"Are we in for an IPO-heavy second half of the year? 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