{"id":562339,"date":"2021-05-20T03:50:54","date_gmt":"2021-05-20T03:50:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562339"},"modified":"2025-12-16T03:40:29","modified_gmt":"2025-12-16T03:40:29","slug":"efg-gets-nod-to-take-majority-stake-in-aib-idh-starts-trading-today-on-the-egx","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-gets-nod-to-take-majority-stake-in-aib-idh-starts-trading-today-on-the-egx\/","title":{"rendered":"EFG gets nod to take majority stake in AIB + IDH starts trading today on the EGX"},"content":{"rendered":"<section id=\"562341\" 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=\"562341\">\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\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/\">\r\n                            THIS MORNING: It\u2019s a big day for capital markets as EFG gets AIB acquisition nod, IDH starts trading and global shares slump                        <\/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\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/\" 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\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/')\">\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\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/\">\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: It\u2019s a big day for capital markets as EFG gets AIB acquisition nod, IDH starts trading and global shares slump&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/\">\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\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/&title=THIS MORNING: It\u2019s a big day for capital markets as EFG gets AIB acquisition nod, IDH starts trading and global shares slump\">\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+It%E2%80%99s+a+big+day+for+capital+markets+as+EFG+gets+AIB+acquisition+nod%2C+IDH+starts+trading+and+global+shares+slump+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fthis-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump%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\/20\/this-morning-its-a-big-day-for-capital-markets-as-efg-gets-aib-acquisition-nod-idh-starts-trading-and-global-shares-slump\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562341\" class=\"content-area-description single-story post-562341 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-covid-19 tag-cryptocurrency tag-enterpriseam tag-integrated-diagnostics-holding tag-israel tag-jordan 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, friends, and welcome to a pleasantly busy news morning <\/strong>to start this last business day of the week.<\/p>\n<p><strong>THE BIG STORY HERE AT HOME <\/strong>is that EGX-listed EFG Hermes has just taken a major step toward becoming a universal bank after cabinet approved yesterday the firm\u2019s acquisition of a controlling stake in Arab Investment Bank in partnership with the Sovereign Fund of Egypt. The acquisition, when concluded, would be a most welcome landmark for the SFE, establishing it as a broker of meaningful options for public-private partnership. We have the rundown in this morning\u2019s news well, below, and expect to have more details on the multi-bn transaction in this afternoon\u2019s edition of EnterprisePM.<\/p>\n<p><strong>It\u2019s also a big day for the EGX as shares of LSE-listed Integrated Diagnostics Holding <\/strong><strong>(IDH) begin trading <\/strong><strong>under the ticker IDHC.<\/strong> The consumer healthcare giant\u2019s technical listing is the first of its kind in Egypt and makes 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.<\/p>\n<p><strong>Also worth knowing about: Most of the government\u2019s covid-19 restriction measures have<\/strong><strong> been extended<\/strong> until the end of the month \u2014 and the decision <strong>will require all schools to go back online at the beginning of June<\/strong>. The announcement comes as daily infections have been inching down slightly over the past three days, but remain above 1k. We have chapter and verse in this morning\u2019s news well, below.<\/p>\n<p><strong>Flights from Riyadh are back on: <\/strong>The first two commercial Saudi Airways flights from Riyadh and Jeddah to Egypt since Saudi lifted its covid-19 travel ban <a href=\"https:\/\/bit.ly\/3fu58Ju\">landed<\/a> in Sharm El Sheikh yesterday.<\/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>MARKET WATCH-<\/strong><\/p>\n<p><strong>Global markets are looking a bit choppy this morning <\/strong>after US shares extended losses to a third straight day on Wednesday. The tech-fueled selloff followed slumps in Asia and Europe earlier in the day and was accelerated as \u201cthe latest minutes from the Federal Reserve reinforced fears of a potential pullback of crisis-era support measures should the economic recovery continue,\u201d the <a href=\"https:\/\/www.ft.com\/content\/aad5fe09-ec96-4390-b1b5-20e2464bc170\">Financial Times<\/a> reports. <strong>Futures suggest the Nasdaq, Dow and S&P will all open in the red<\/strong> this afternoon, and major Asian indices are solidly in the red right now, from the Kospi and Hang Seng to Shanghai and the Nikkei. Look for a mixed open in Europe. The <a href=\"https:\/\/www.wsj.com\/articles\/markets-decline-globally-and-fed-hints-at-a-policy-review-11621468563?mod=hp_lead_pos1\">Wall Street Journal<\/a> has more.<\/p>\n<p><strong>BTC has taken traders on a \u201cwild ride\u201d over the past 24 hours:<\/strong> The cryptocurrency rallied 33% yesterday afternoon after plummeting 31% earlier in the day, only to fall again this morning in an extension of the turbulence since China\u2019s clampdown on crypto and Elon Musk\u2019s tweet on BTC triggered a sell-off, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-19\/bitcoin-erases-all-gains-since-elon-musk-s-initial-big-embrace?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports. Although crypto is known for being volatile, it\u2019s rare for this level of volatility to be seen \u201cin a single session,\u201d the business information service says. BTC was trading at just under USD 38k at dispatch time, and <a href=\"https:\/\/www.cnbc.com\/2021\/05\/19\/the-crypto-collapse-heres-whats-behind-bitcoins-sudden-drop.html\">CNBC<\/a> has a look at what\u2019s fuelling the rollercoaster \u2014 and what could be next.<\/p>\n<p>It\u2019s the final day of <strong>Renaissance Capital\u2019s<\/strong><strong><a href=\"https:\/\/events.rencap.com\/MENAconference\/#18-May\"><\/a><\/strong><strong><a href=\"https:\/\/events.rencap.com\/MENAconference\/#18-May\">annual MENA Investor Conference<\/a><\/strong> and<a href=\"https:\/\/ent.news\/2021\/5\/Research-avior-conference-17-May-21-English.pdf\"><\/a><strong><a href=\"https:\/\/ent.news\/2021\/5\/Research-avior-conference-17-May-21-English.pdf\">HC<\/a><\/strong><strong><a href=\"https:\/\/ent.news\/2021\/5\/Research-avior-conference-17-May-21-English.pdf\">Securities\u2019 virtual event<\/a><\/strong><a href=\"https:\/\/ent.news\/2021\/5\/Research-avior-conference-17-May-21-English.pdf\">on Egyptian equities (pdf)<\/a>.<\/p>\n<p><strong>HAPPENING TODAY-<\/strong><\/p>\n<p><strong>Greek Foreign Minister Nikos Dendias <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e880b83f-e080-493f-ad62-c1cdcc31482b\">is in Cairo today<\/a><\/strong> for talks with FM Sameh Shoukry. This is the last step of a regional tour that has seen Dendias visit Israel, Palestine and Jordan in the past two days. The talks come as Egypt continues to lead an international effort to broker a ceasefire between Hamas and Israel.<\/p>\n<p><strong>Second Egypt-France-Jordan meeting on Gaza coming up:<\/strong> President Abdel Fattah El Sisi, French President Emmanuel Macron and Jordan\u2019s King Abdullah will hold a second meeting \u201cin the coming days\u201d to discuss events in Gaza, according to <a href=\"https:\/\/www.diplomatie.gouv.fr\/en\/country-files\/israel-palestinian-territories\/news\/2021\/article\/joint-statement-of-the-leaders-of-france-egypt-and-jordan-19-may-2021\">a joint statement<\/a>. The three leaders met yesterday to focus on bringing Israel and Hamas to the negotiating table and end the current conflict, the statement said. El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/039377ac-4798-45c2-8c72-33391611063c\">pledged<\/a> on Tuesday USD 500 mn in reconstruction aid to the residents of Gaza during his visit to Paris.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/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<\/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<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p>\n<ul>\n<li><strong>Push for Gaza ceasefire:<\/strong> Egypt\u2019s efforts to bring about a ceasefire in Gaza have received support from the US and EU, sources told <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67e64fb1-9e63-43fe-b884-bb5c53c9073d\">Al Arabiya<\/a>.<\/li>\n<li><strong>Raya looks to the Gulf:<\/strong> Raya Contact Center is on course to acquire 100% of an unnamed call center company based in the Gulf after its USD 14.2 mn offer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7877469-807b-4a69-a6ec-766e8b559250\">was accepted<\/a> by the firm.<\/li>\n<li><strong>More help for the tourism industry:<\/strong> Subsidized loans designed to help tourism companies fund capex <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ee5c934-0983-4e39-9a55-23b0bf570235\">can now cover up to 90% of a project\u2019s renovation costs<\/a>, up from 75% under the ongoing EGP 50 bn tourism support program.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/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\/jordan\/\">Jordan<\/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=\"562342\" 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=\"562342\">\r\n            \r\n           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            <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/166.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562344\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/efg-hermes-set-to-transform-into-universal-bank-as-sfe-proves-its-serious-about-public-private-partnership\/166-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/166.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"166.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/166.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/166.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562343\" class=\"content-area-description single-story post-562343 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-arab-investment-bank tag-efg-hermes tag-enterpriseam tag-ma-watch tag-sovereign-fund-of-egypt tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EFG + SFE\u2019s acquisition of AIB gets Cabinet nod:<\/strong> EFG Hermes and the Sovereign Fund of Egypt\u2019s (SFE) acquisition of a combined 76% stake in the Arab Investment Bank (AIB) earned Cabinet approval yesterday, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1934308666747489\">a Cabinet statement<\/a>, bringing us one step closer to <strong>Egypt\u2019s first bank privatization in over a decade<\/strong>. The acquisition \u2014 which will see the SFE and EFG purchase AIB through a capital increase \u2014 will raise AIB\u2019s capital to EGP 5 bn, the statement says.<\/p>\n<p><strong>Who\u2019s getting what:<\/strong> Once the sale closes, EFG will become AIB\u2019s controlling shareholder with a 51% stake, while the SFE will take 25% through its financial services and digital transformation sub-fund. The state-owned National Investment Bank will retain a 24% stake of AIB post-transaction, having previously held a 91.4% stake.<\/p>\n<p><strong>What still needs to be done:<\/strong> The transaction requires approval from regulatory bodies \u2014 chief among them the Central Bank of Egypt (CBE) \u2014 before being finalized, the statement notes. EFG Hermes\u2019 board of directors approved the acquisition and a fair value assessment <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26d64c6e-10b4-48d4-b053-63f5becb0429\">last month<\/a>.<\/p>\n<p><strong>The progress on the acquisition is getting good press<\/strong>, with Goldman Sachs economist Farouk Soussa telling <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypts-efg-hermes-sovereign-fund-to-buy-76-arab-investment-bank-2021-05-19\/\">Reuters<\/a> that it \u201csignals an improved capacity by the government to follow through on privatisation plans after a patchy track record, which is largely down to the establishment of the [SFE].\u201d<\/p>\n<p><strong>For context, t<\/strong><strong>he last full bank privatization in Egypt was the sale of Bank of Alexandria to Italy\u2019s Intesa Sanpaolo in 200<\/strong><strong>6.<\/strong> Earlier that same year, the Egyptian American Bank \u2014 which was partially owned by Bank of Alexandria \u2014 was sold to Credit Agricole and El Mansour & El Maghraby Investment and Development Co. The CBE has <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/07\/egypts-united-bank-sale-moving-forward-amer-says\/\">also been working<\/a>to sell United Bank to a strategic investor, but that process appears to have been put on hold due to covid-19.<\/p>\n<p><strong>Background:<\/strong> EFG and the SFE began due diligence on AIB <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/493e0457-82af-4b27-9c7f-1ab2d8301a49\">last June<\/a>, after receiving clearance from the CBE. The National Investment Bank \u2014 AIB\u2019s parent company \u2014 had announced earlier last year a plan to take several of its portfolio companies to market with the help of the SFE.<\/p>\n<p><strong>OTHER M&A NEWS- Melinda French Gates now holds a direct 5.6% stake in Orascom Construction<\/strong>, after acquiring <a href=\"https:\/\/ciginc.net\/\">Cascade Investment Group<\/a>\u2019s entire stake, according to a <a href=\"https:\/\/ent.news\/2021\/5\/Shareholding-Disclosure-Transfer-of-Shares-1.pdf\">regulatory disclosure (pdf)<\/a>. Cascade Investment is owned by Bill Gates. French Gates separately holds an 0.2% indirect stake in OC through the Bill and Melinda Gates Foundation Trust.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-investment-bank\/\">Arab Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562345\" 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=\"562345\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/\">\r\n                            The semi-lockdown is on till the end of May \u2014 but we can go to the beach as the kids go back to online learning                        <\/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\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/\" 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\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/')\">\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\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/\">\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 semi-lockdown is on till the end of May \u2014 but we can go to the beach as the kids go back to online learning&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/\">\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\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/&title=The semi-lockdown is on till the end of May \u2014 but we can go to the beach as the kids go back to online learning\">\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+semi-lockdown+is+on+till+the+end+of+May+%E2%80%94+but+we+can+go+to+the+beach+as+the+kids+go+back+to+online+learning+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fthe-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning%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\/20\/the-semi-lockdown-is-on-till-the-end-of-may-but-we-can-go-to-the-beach-as-the-kids-go-back-to-online-learning\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562345\" class=\"content-area-description single-story post-562345 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covid-19 tag-education tag-enterpriseam tag-hala-zayed tag-health-minister tag-saudi-arabia tag-sinopharm tag-sinovac tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>We\u2019re (mostly) staying in semi-lockdown mode until at least the end of the month<\/strong> after the government\u2019s covid-19 crisis management committee <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1934289463416076\">announced yesterday<\/a> that stores, malls, cafes, and restaurants will continue to close by 9pm. The measures were initially set to expire tomorrow, but unconfirmed press reports had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2163464-a9ac-4917-886b-6946be359b18\">previously suggested<\/a> that an extension was likely.<\/p>\n<p><strong>The committee decided to reopen public beaches, parks, and gardens<\/strong>, which had initially been shut as part of the lockdown measures rolled out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7cb40a2-315a-482b-a56e-9a95c6788e1a\">earlier this month<\/a> ahead of the long Eid El Fitr holiday. <a href=\"https:\/\/www.reuters.com\/article\/idUSL2N2N626O\">Reuters<\/a> also has the story.<\/p>\n<p><strong>Schools are being forced back online:<\/strong> Classes will be required to shift online at the beginning of June. Students at international schools will only allowed to attend in-person classes until the end of May, according to the statement.<\/p>\n<p><strong>Meanwhile, Thanaweya Amma and university exam proctors will begin receiving <\/strong><strong>vaccines<\/strong>, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1934128463432176\">Health Minister Hala Zayed said<\/a> at yesterday\u2019s weekly Cabinet meeting, without specifying a date. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07b2101-7675-48aa-ad36-01e171439c86\">Prisoners, pensioners and factory workers<\/a> are also in line for the next phase of the vaccination program.<\/p>\n<p><strong>VACCINE SUPPLY UPDATE- Egypt is getting 20 mn doses of the Sputnik V vaccine before <\/strong><strong>the year is out<\/strong>, Head of the Egyptian Authority for Unified Procurement Bahaa El-Din Zidan said. The vaccines will be delivered in batches over the next several months, according to Zidan. The Health Ministry had already signed an agreement with Russia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">earlier this month<\/a> to get 10 mn doses of the jab. It is unclear whether the 20 mn doses include or are in addition to the initial 10 mn. Local manufacturer Minapharm is also set to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f26e1432-d88a-4d80-a628-e03687889ed5\">manufacture 40 mn doses<\/a> of the vaccine per year, starting later this year.<\/p>\n<p><strong>Johnson & Johnson is sending us 20 mn doses of its jab<\/strong>, according to Zidan. We\u2019ve already placed an order that should see <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">4 mn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">doses<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">of J&J delivered in 4Q2021<\/a>, Health Ministry spokesperson Khaled Megahed previously said. Presidential health advisor Mohamed Awad Tag Eldin <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a6d002d-541a-4e41-a268-0ae1c275a482\">said last month<\/a> that these jabs will be received through the African Union, suggesting they could be separate from the 20 mn doses Zidan announced yesterday, which will be supplied directly from the company.<\/p>\n<p><strong>And another 3.4 mn covid vaccines could be in Egypt by the first week of June<\/strong>, according to Zayed. A new 1.9 mn-jab batch of Oxford \/ AstraZeneca vaccines will be delivered through the Gavi \/ Covax program during the first week of June, while a shipment of 1 mn doses of China's Sinovac vaccine will arrive by the end of May or during the first week of June, she said. This is in addition to another 500k-dose shipment of Sinopharm, which will be here in the coming days, she added.<\/p>\n<p><strong>One step closer to a homemade Sinovac:<\/strong> Raw materials used to produce the Sinovac vaccine have been shipped and are likely to arrive in Egypt soon, Zayed said. The shipment, which was expected to arrive on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff94c5e9-c386-45d1-80cd-279861fb2f35\">18 May<\/a>, is enough to locally manufacture 2 mn doses of the vaccine by the end of June, as part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0aed177e-6073-45e7-b6d9-4d028344fab2\">planned 80 mn<\/a> to be produced annually under an agreement signed with the company earlier this year.<\/p>\n<p><strong>We now have 376 vaccination centers available cross-country<\/strong>, the Health Minister said, compared to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">208<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/558928b3-39f3-41f4-81db-f21af151cd3c\">reported<\/a> in late April. This includes a vaccination facility at Cairo International Fair that has capacity to inoculate 10k citizens per day.<\/p>\n<p><strong>More than 3.5 mn people have registered for a vaccine in Egypt so far<\/strong>, advisor to the health minister Noha Assem told Al Hayah Al Youm\u2019s Lobna Assal. The ministry has also been working to develop its automated registration system to speed up the process of allocation vaccination appointments, Assem said (<a href=\"https:\/\/www.youtube.com\/watch?v=WQ6H4wFK6Do\">watch, runtime: 8:19<\/a>).<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/384814513069167\">reported<\/a><\/strong> <strong>1,160 new covid-19 infections yesterday<\/strong>, down from 1,169 the day before. Egypt has now disclosed a total of 249,238 confirmed cases of covid-19. The ministry also reported 57 new deaths, bringing the country\u2019s total death toll to 14,498.<\/p>\n<p><strong>Everyone traveling from Egypt to Sudan will be tested on arrival<\/strong> under new measures announced by the Sudanese government designed to curb the spread of the virus, Sudanese state news agency <a href=\"https:\/\/suna-news.net\/read?id=712570\">SUNA<\/a> reports. The government has also banned all flights from India and closed schools and universities for a month.<\/p>\n<p><strong>Oxford \/ AstraZeneca\u2019s covid-19 vaccine could show promise <\/strong><strong>as a booster<\/strong><strong> shot<\/strong> that helps maintain immunity to the virus and its variants over time, unnamed sources familiar with a soon to be released Oxford University study told <a href=\"https:\/\/www.ft.com\/content\/c5297d58-ad6d-490f-89e0-74f9c13377e4\">the FT<\/a>. A third dose of the vaccine has been described as \u201cunbelievable\u201d and capable of triggering a \u201cvery high antibody response\u201d by people familiar with the study.<\/p>\n<p><strong>Your covid results could soon be in your hands by the time you count to one: <\/strong>A rapid covid-19 testing method that claims to be able to detect positive signs of infection in just one second has been developed in <a href=\"https:\/\/avs.scitation.org\/doi\/10.1116\/6.0001060\">a study<\/a> conducted by US and Taiwan-based scientists, writes <a href=\"https:\/\/www.healthline.com\/health-news\/test-unveiled-that-can-detect-covid-19-within-1-second#How-the-test-works\">Healthline<\/a>. The tech is still in the research stage but could potentially be sold by a private company in the future, they 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\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-minister\/\">Health Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinopharm\/\">Sinopharm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562346\" 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=\"562346\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/\">\r\n                            New civil servants minimum wage gets nod from cabinet, still no word on private sector floor                        <\/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\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/\" 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\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/')\">\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\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/\">\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=New civil servants minimum wage gets nod from cabinet, still no word on private sector floor&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/\">\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\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/&title=New civil servants minimum wage gets nod from cabinet, still no word on private sector floor\">\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=New+civil+servants+minimum+wage+gets+nod+from+cabinet%2C+still+no+word+on+private+sector+floor+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fnew-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor%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\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/167.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562347\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/new-civil-servants-minimum-wage-gets-nod-from-cabinet-still-no-word-on-private-sector-floor\/167-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/167.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"167.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/167.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/167.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562346\" class=\"content-area-description single-story post-562346 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-budget-watch tag-cabinet-watch tag-economy tag-enterpriseam tag-labor tag-minimum-wage tag-mohamed-maait 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>Cabinet <\/strong><strong>greenlit <\/strong><strong>bringing the minimum wage increase to EGP 2.4k from EGP 2k for civil <\/strong><strong>servants into effect at the start of the next fiscal year on 1 July <\/strong>during its weekly meeting yesterday, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1934140453430977\">statement<\/a>. The minimum salary of the highest-grade civil servant will also increase to EGP 8.4k from EGP 7k last fiscal year. Civil servants falling somewhere between will also see their minimum wage increase by an average of some EGP 650. Finance Minister Mohamed Maait recently gave <a href=\"https:\/\/bit.ly\/3ywvdAz\">the full breakdown<\/a> of the increases. Public sector wage increases need to be ratified by the House of Representatives before taking effect.<\/p>\n<p><strong>Public sector salaries and bonuses are up across the board: <\/strong>President Abdel Fattah El Sisi had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d15c184c-b6a0-4eda-afd1-3d0695707906\">in March<\/a> instructed the government to raise the minimum pay for its employees, as well as implement a pension hike of 13%, and an annual raise of 7% for public sector employees covered by the Civil Service Act. Cabinet also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f555e13-8674-4f7e-9513-4c025360a040\">approved last month<\/a> 13% raises in basic salaries for employees not covered by the Civil Service Act as of the next fiscal year, as well as an increase in monthly bonuses. The minimum wage increase is expected to cost EGP 37 bn and the pensions hike an additional EGP 31 bn in FY2021-2022.<\/p>\n<p><strong>Private sector to follow suit soon? <\/strong>Proposals for a private sector minimum wage should be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/817fe8bb-2c0d-40ab-b840-e55ea157c750\">drafted by the end of the month<\/a>, the planning ministry said, with previous reports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28222158-497c-486f-bd78-1d95077d3c80\">putting the likely sum at EGP 2k<\/a>. The proposed implementation of a minimum wage for the private sector has been under discussion since at least 2019, but its implementation had been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64721743-7051-4f8a-b7b6-2d7331d1019c\">delayed by covid-19<\/a>.<\/p>\n<p><strong>ALSO FROM THE CABINET MEETING- Ministers approved a decision to set up a new private university in Tenth of Ramadan city<\/strong> that will offer degrees in engineering, business management, economics, computer science, and nursing, among other specialties. A separate decision to contract two new waste and recycling companies that will operate on the outskirts of Cairo was also approved.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/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\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562348\" 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=\"562348\">\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\">REMITTANCES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/\">\r\n                            NBE partners with UAE\u2019s LuLu on remittance transfer service                        <\/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\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/\" 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\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/')\">\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\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/\">\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=NBE partners with UAE\u2019s LuLu on remittance transfer service&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/\">\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\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/&title=NBE partners with UAE\u2019s LuLu on remittance transfer service\">\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=NBE+partners+with+UAE%E2%80%99s+LuLu+on+remittance+transfer+service+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fnbe-partners-with-uaes-lulu-on-remittance-transfer-service%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\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/168.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562349\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/nbe-partners-with-uaes-lulu-on-remittance-transfer-service\/168-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/168.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"168.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/168.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/168.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562348\" class=\"content-area-description single-story post-562348 post type-post status-publish format-standard has-post-thumbnail hentry category-remittances tag-blockchain tag-economy tag-enterpriseam tag-lulu-group tag-remittances tag-uae 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> Remittance transfers from the UAE to Egypt through the National Bank of Egypt<\/strong><strong> (NBE) are set to become more reliable and potentially cost less under a new partnership<\/strong> with UAE-based financial services company LuLu International Exchange, according to a <a href=\"https:\/\/ripple.com\/insights\/national-bank-of-egypt-and-lulu-international-exchange-connect-through-ripplenet-to-elevate-remittance-experience-into-egypt\">statement<\/a> from Ripple. The remittance transfers will use Ripple\u2019s blockchain payments network RippleNet to provide a \u201cquicker and more reliable\u201d experience for Egyptian expats, who can transfer their cross-border remittances from LuLu to NBE via the platform.<\/p>\n<p><strong>Egypt was one of the top five remittance destinations in 2020<\/strong>, according to the statement, with Central Bank of Egypt data putting the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9026fa43-ed04-4d8d-bed4-2b429442b37b\">value of remittances last year at USD 29.6 bn<\/a>, a 10% y-o-y growth despite worries that a covid-19 hit to the global economy and the oil price crash would affect remittances from Gulf states, where many Egyptians are employed. S&P Global Ratings expects <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1fd134ec-624a-4402-b295-075903f03f50\">remittances<\/a> to remain high levels in upcoming months.<\/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\/blockchain\/\">blockchain<\/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\/lulu-group\/\">Lulu Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/remittances\/\">remittances<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562350\" 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=\"562350\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/visa-waiver-initiative-for-foreign-tourists-ends\/\">\r\n                            Visa waiver initiative for foreign tourists ends                        <\/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\/20\/visa-waiver-initiative-for-foreign-tourists-ends\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The initiative had been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79389986-fc55-488f-9e42-54db7e1e63af\">extended late last year to 30 April 2021<\/a> to encourage inbound travel after a covid-19 induced slump in tourism.<\/p>\n<p><strong>Tourism players are lobbying for an extension, <\/strong>with Federation of Egyptian Chambers of Tourism Hossam Hazza telling <a href=\"https:\/\/bit.ly\/3wwnAIz\">Masrawy<\/a> that the waiver should be extended till at least 31 October to account for the summer tourist season. Widespread vaccination rollouts in Egypt and elsewhere must be effective before fees are reinstated so that tourists are not discouraged from travel, Hazza said. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb5dcfbb-f5d3-4d09-909c-6db7ed5c5be8\">delayed resumption<\/a> of flights between Russia and red sea tourists destinations could also weigh on tourist volumes this season.<\/p>\n<p><strong>But the Tourism Ministry says it is not planning to renew the initiative<\/strong>, the ministerial advisor told us, though some tourism players are still keeping their fingers crossed, saying they had received no official notice of the initiative\u2019s expiry.<\/p>\n<p><strong>The visa waiver came as part of a raft of measures to support the tourism industry<\/strong>, including a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7209c6b0-dafd-43a8-9abc-8b3838fd7ef0\">campaign to promote domestic winter tourism<\/a> slashing fares on flights and hotel rates that was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/093c4b68-9f7e-42a5-bcaa-05f89fb4b473\">extended<\/a> to this month.<\/p>\n<p><strong>Tourism revenues are still down, but a recovery is underway: <\/strong>Revenues have improved on a q-o-q basis in 1Q2021, netting around USD 1.1 bn by our calculations, according to figures given by Tourism Minister Khaled El Enany <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21c72a06-0a86-4493-a54d-4a630faf8acd\">earlier this week<\/a>. This is a slight improvement on the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7042bbd-cedd-44cb-aefb-6ea18b372cd4\">USD 987 mn posted during 4Q2020<\/a>, though revenues are still 60% down y-o-y compared to pre-covid 1Q2019 figures. El Enany said Egypt is targeting revenues of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6405eda-1bf2-43d9-8236-f947f937034b\">USD 8 bn<\/a> this 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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khaled-el-anany\/\">Khaled El Anany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562352\" 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=\"562352\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/were-getting-serious-about-conserving-water-as-gerds-2nd-filling-looms\/\">\r\n                            We\u2019re getting serious about conserving water as GERD\u2019s 2nd filling looms                        <\/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\/20\/were-getting-serious-about-conserving-water-as-gerds-2nd-filling-looms\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Aswan High Dam reservoir should temporarily compensate for the shortage caused by the GERD\u2019s filling, Shoukry said, and Egypt is \u201cconfident\u201d the filling will not affect its water security. Egypt will not spare any effort in defending its water rights if Ethiopia takes unilateral action that harms its share of the Nile\u2019s waters, the FM said, though escalations would be dependent on whether the filling materially negatively affects our water supply.<\/p>\n<p><strong>The government had announced a <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/09\/irrigation-minister-outlines-usd-50-bn-plan-for-combating-water-scarcity-\/\">USD 50 bn water saving plan<\/a><\/strong><strong> in 2019 <\/strong>focusing on promoting modern irrigation methods and the cultivation of non-water intensive crops. In the coming year, the government plans to expand irrigation networks, make better use of rainwater, and install utilities in unserved areas in its bid to reduce water waste, Water Resources Ministry spokesman Mohamed Ghanem <a href=\"https:\/\/enterprise.press\/hardhats\/infrastructure-whats-come-2021\/\">told us last year<\/a>. The government is also spending EGP 134.2 bn on building new desalination plants to address our water needs. We took a deep dive into Egypt\u2019s water network in a 3 part series of Hardhat <a href=\"https:\/\/enterprise.press\/hardhats\/egypt-losing-much-drinking-water\/\">here<\/a>, <a href=\"https:\/\/enterprise.press\/hardhats\/state-needs-plug-leaks-water-network\/\">here<\/a> and <a href=\"https:\/\/enterprise.press\/hardhats\/water-leakage-agriculture-pressing-water-infrastructure-problem\/\">here<\/a>.<\/p>\n<p><strong>Egypt is hoping for an expanded role for international observers once negotiations resume<\/strong>, Shoukry said, without specifying when that might be. Egypt is waiting on an invitation from the chair of the African Union for another trilateral meeting, Shoukry said, expressing the hope that the participation of other bodies will pave the way for more effective negotiations. The meeting could happen \u201cin the next few days,\u201d Ala Mas\u2019ouleety\u2019s Ahmed Moussa suggested (<a href=\"https:\/\/www.youtube.com\/watch?v=p2Zkfzl8-9E\">watch, runtime: 2:55<\/a>). As one of the proposed observers, the US said earlier this week that it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce1f33c2-b1ea-4f41-a8a2-f1f8c789ae89\">supports<\/a> the resumption of negotiations between Egypt, Sudan, and Ethiopia, but isn\u2019t on board with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3bdd7711-b2f5-43e2-a21d-402f55f77500\">Cairo and Khartoum\u2019s proposition<\/a> that it plays a mediating role.<\/p>\n<p><strong>The FM reiterated Egypt\u2019s desire to reach a binding agreement with Sudan and Ethiopia<\/strong> on the filling and operation of the dam, though Addis Ababa has insisted it will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4b85a75-df24-4ee9-b55f-3bad56b6c8db\">proceed with the dam\u2019s second filling<\/a>during the rainy season this summer, with or without an agreement.<\/p>\n<p><strong>OTHER DIPLOMACY NEWS- <\/strong><\/p>\n<p><strong>President Abdel Fatah El Sisi discussed potential investments in Egypt with<\/strong> <strong>French Finance Minister Bruno Le Maire<\/strong> during a meeting in Paris yesterday, according to <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1155644334954945\">an Ittihadiya statement<\/a>. The two discussed possible cooperation on transportation, energy, water management and healthcare projects. Creating an attractive foreign investment climate in Egypt and continuing to support private sector participation were also on the agenda during President Sisi\u2019s visit.<\/p>\n<p><strong>Separately, El Sisi also stressed the need to reach a binding resolution on GERD <\/strong>during a meeting with Sengalese president Macky Sall in Paris, according to <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1155916028261109?__tn__=-R\">an Ittihadiya statement<\/a>. El Sisi and Sall also discussed diplomatic cooperation and infrastructure investment in Senegal.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fatah-el-sisi\/\">Abdel Fatah El-Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bruno-le-maire\/\">Bruno Le Maire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macky-sall\/\">Macky Sall<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senegal\/\">Senegal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"562354\" 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=\"562354\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/thursday-kudos-fras-omran-chairs-iosco-committee-godaddy-gives-internships-to-egyptian-girls-aps-buzbee-as-wapos-new-exec-editor\/\">\r\n                            Thursday kudos: FRA\u2019s Omran chairs IOSCO committee; GoDaddy gives internships to Egyptian girls; AP\u2019s Buzbee as WaPo\u2019s new exec editor                        <\/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\/20\/thursday-kudos-fras-omran-chairs-iosco-committee-godaddy-gives-internships-to-egyptian-girls-aps-buzbee-as-wapos-new-exec-editor\/\" 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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AP\u2019s Buzbee as WaPo\u2019s new exec editor&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/thursday-kudos-fras-omran-chairs-iosco-committee-godaddy-gives-internships-to-egyptian-girls-aps-buzbee-as-wapos-new-exec-editor\/\">\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\/20\/thursday-kudos-fras-omran-chairs-iosco-committee-godaddy-gives-internships-to-egyptian-girls-aps-buzbee-as-wapos-new-exec-editor\/&title=Thursday kudos: FRA\u2019s Omran chairs IOSCO committee; GoDaddy gives internships to Egyptian girls; AP\u2019s Buzbee as WaPo\u2019s new exec editor\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Thursday+kudos%3A+FRA%E2%80%99s+Omran+chairs+IOSCO+committee%3B+GoDaddy+gives+internships+to+Egyptian+girls%3B+AP%E2%80%99s+Buzbee+as+WaPo%E2%80%99s+new+exec+editor+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fthursday-kudos-fras-omran-chairs-iosco-committee-godaddy-gives-internships-to-egyptian-girls-aps-buzbee-as-wapos-new-exec-editor%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\/20\/thursday-kudos-fras-omran-chairs-iosco-committee-godaddy-gives-internships-to-egyptian-girls-aps-buzbee-as-wapos-new-exec-editor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562354\" class=\"content-area-description single-story post-562354 post type-post status-publish format-standard hentry category-kudos tag-enterpriseam tag-financial-regulatory-authority tag-giz tag-kudos wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Financial Regulatory Authority boss <strong>Mohamed Omran<\/strong> was elected as <strong>chairperson<\/strong> of the <strong>growth and emerging markets committee<\/strong> of the International Organization of Securities Commissions\u2019 <strong>(IOSCO)<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/5\/Mohamed-Omran-IOSCO-GEMC.pdf\">a statement (pdf)<\/a>. By being elected to chair the committee, Omran has also become an <a href=\"https:\/\/www.iosco.org\/about\/?subsection=display_committee&cmtid=11#:~:text=Ashley%20Ian%20Alder%2C%20Chief%20Executive,chair%20of%20the%20IOSCO%20Board.\">IOSCO board vice<\/a><a href=\"https:\/\/www.iosco.org\/about\/?subsection=display_committee&cmtid=11#:~:text=Ashley%20Ian%20Alder%2C%20Chief%20Executive,chair%20of%20the%20IOSCO%20Board.\">chair<\/a><a href=\"https:\/\/www.iosco.org\/about\/?subsection=display_committee&cmtid=11#:~:text=Ashley%20Ian%20Alder%2C%20Chief%20Executive,chair%20of%20the%20IOSCO%20Board.\">person<\/a>.<\/p>\n<p><strong>Sally Buzbee<\/strong>, who some readers may remember as the Cairo-based Middle East editor of the Associated Press,<strong> has been named as the<\/strong><strong> new executive editor at the Washington Post<\/strong>, making her the first woman to hold the position since the newspaper was established 144 years ago, the <a href=\"https:\/\/apnews.com\/article\/ks-state-wire-sally-buzbee-donald-trump-middle-east-health-1ee82d121623381c1afad6306d892744\">Associated Press<\/a> reports. Buzbee worked out of Cairo from 2004 until 2010 during her MidEast editor gig.<\/p>\n<p>Website domain platform <strong><a href=\"https:\/\/ae.godaddy.com\/\">GoDaddy<\/a><\/strong><strong> is joining GIZ\u2019s <\/strong><strong><a href=\"https:\/\/econowin.org\/progirls-kicks-off-in-egypt\/\">ProGirls<\/a><\/strong><strong> campaign to provide <\/strong><strong>virtual summer internships Egyptian girls aged 14-17<\/strong>, it said in <a href=\"https:\/\/ent.news\/2021\/5\/Press-Release-GoDaddy-Participates-with-GIZ-ProGirls-Program.docx.pdf\">a press release (pdf).<\/a> Students will shadow one of GoDaddy\u2019s women executives and gain hands-on experience in a number of company projects. The company did not say how many places would be made available.<\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giz\/\">GiZ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562355\" 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=\"562355\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/562355\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562355\" class=\"content-area-description single-story post-562355 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=\"562356\" 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=\"562356\">\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\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/\">\r\n                            Last Night\u2019s Talk Shows: Egypt\u2019s mediation efforts in Palestine + Mandarin for middle school kids                        <\/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\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/\" 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\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/')\">\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\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/\">\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=Last Night\u2019s Talk Shows: Egypt\u2019s mediation efforts in Palestine + Mandarin for middle school kids&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/\">\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\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/&title=Last Night\u2019s Talk Shows: Egypt\u2019s mediation efforts in Palestine + Mandarin for middle school kids\">\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=Last+Night%E2%80%99s+Talk+Shows%3A+Egypt%E2%80%99s+mediation+efforts+in+Palestine+%2B+Mandarin+for+middle+school+kids+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Flast-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids%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\/20\/last-nights-talk-shows-egypts-mediation-efforts-in-palestine-mandarin-for-middle-school-kids\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562356\" class=\"content-area-description single-story post-562356 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-china tag-education tag-enterpriseam tag-israel tag-last-nights-talk-shows tag-palestine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Last night\u2019s (limited) talk shows were largely focused on diplomacy<\/strong>, including negotiations on the Grand Ethiopian Renaissance Dam and Egypt\u2019s mediation efforts in Palestine. We have chapter and verse on both stories in the news well, above.<\/p>\n<p><strong>Elsewhere, the Education Ministry is looking to give middle school students the option of <\/strong><strong>studying Chinese<\/strong> as a foreign language as of the next academic year, with an eye to offering more foreign languages down the road, Al Hayah Al Youm\u2019s Lobna Assal said (<a href=\"https:\/\/www.youtube.com\/watch?v=lxjmFu4vc6U\">watch, runtime: 2:13<\/a>). (While Assal said students will be able to study \u201cthe Chinese language,\u201d our assumption is that this is Mandarin.)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562357\" 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 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class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n      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alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-00yt77u\" data-v=\"4\" data-block-id=\"00yt77u\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-00yt77u-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-00yt77u-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7inftiv\" data-v=\"4\" data-block-id=\"7inftiv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7inftiv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7inftiv-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-92tf8wp\" data-v=\"4\" data-block-id=\"92tf8wp\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-92tf8wp-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-92tf8wp-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 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22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 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=\"562358\" 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=\"562358\">\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\/20\/egypt-in-the-news-on-20-may-2021\/\">\r\n                            Egypt in the News on 20 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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/egypt-in-the-news-on-20-may-2021\/&title=Egypt in the News on 20 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+20+May+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fegypt-in-the-news-on-20-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\/20\/egypt-in-the-news-on-20-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562358\" class=\"content-area-description single-story post-562358 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a quiet morning for Egypt in the foreign press<\/strong>, with the only story of note being the Canada Border Services Agency facing criticism for an \u201cunfair\u201d decision to deport an Egyptian asylum seeker for having ties to the Ikhwan, the <a href=\"https:\/\/ca.news.yahoo.com\/lawyers-egyptian-asylum-seeker-facing-080000091.html\">Canadian Press<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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=\"562359\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562360\" 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=\"562360\">\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\/20\/oc-samcrete-and-arab-contractors-in-talks-for-egp-7-5-bn-railway-renovations\/\">\r\n                            OC, Samcrete, and Arab Contractors in talks for EGP 7.5 bn railway renovations                        <\/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\/20\/oc-samcrete-and-arab-contractors-in-talks-for-egp-7-5-bn-railway-renovations\/\" 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\/20\/oc-samcrete-and-arab-contractors-in-talks-for-egp-7-5-bn-railway-renovations\/')\">\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\/20\/oc-samcrete-and-arab-contractors-in-talks-for-egp-7-5-bn-railway-renovations\/\">\n                    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Contractors in talks for EGP 7.5 bn railway renovations\">\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=OC%2C+Samcrete%2C+and+Arab+Contractors+in+talks+for+EGP+7.5+bn+railway+renovations+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Foc-samcrete-and-arab-contractors-in-talks-for-egp-7-5-bn-railway-renovations%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\/20\/oc-samcrete-and-arab-contractors-in-talks-for-egp-7-5-bn-railway-renovations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562360\" class=\"content-area-description single-story post-562360 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-arab-contractors tag-enterpriseam tag-orascom-construction tag-samcrete tag-transport tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Transport Ministry is in talks with Orascom Construction, Samcrete and the <\/strong><strong>Arab Contractors to overhaul and upgrade some 820 km of rail lines<\/strong>, a project that will cost around EGP 7.5 bn to complete, the <a href=\"https:\/\/bit.ly\/3eZEHMF\">local press<\/a> reported, citing unnamed sources. The work will start in the next fiscal year, which begins on 1 July.<\/p>\n<p><strong>Paris-based education group <\/strong><strong><a href=\"https:\/\/www.open-sky-intl.com\/eg_en\/\">Open Sky International<\/a><\/strong><strong> (OSI) is opening the doors to<\/strong><strong> its first school in Cairo this September<\/strong>, with plans to set up another 10 of its schools in Egypt by 2025, according to <a href=\"https:\/\/ent.news\/2021\/5\/OSI-Press-Release-2021-En.doc.pdf\">a statement (pdf)<\/a>. OSI\u2019s school will teach students in French and English, in addition to \u201cteaching Arabic to a high standard.\u201d<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The <strong>Egyptian Countryside Development Company<\/strong> and Spanish water management <strong>Aqualia Egypt<\/strong> <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/photos\/pcb.1934388730072816\/1934388333406189\/?type=3&source=49\">signed an MoU<\/a> to work together on <strong>water desalination plants<\/strong> and smart irrigation systems within the development company\u2019s 1.5 mn feddan project.<\/li>\n<li>The <strong>Federation of Egyptian Industries<\/strong> is <a href=\"https:\/\/bit.ly\/341ht2q\">lobbying<\/a> the Trade and Industry Ministry to reverse its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbfec2c2-64ef-49fc-a8b2-6904ca4e0ddd\">decision to impose<\/a> additional import duties on <strong>aluminum products<\/strong> for three years, saying the decision is negatively impacting Egyptian producers and driving up local prices.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/samcrete\/\">Samcrete<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport 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=\"562361\" 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=\"562361\">\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\/20\/junk-spacs-are-becoming-an-issue-of-concern\/\">\r\n                            Junk SPACs are becoming an issue of concern                        <\/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\/20\/junk-spacs-are-becoming-an-issue-of-concern\/\" 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\/20\/junk-spacs-are-becoming-an-issue-of-concern\/')\">\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\/20\/junk-spacs-are-becoming-an-issue-of-concern\/\">\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=Junk SPACs are becoming an issue of concern&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/junk-spacs-are-becoming-an-issue-of-concern\/\">\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\/20\/junk-spacs-are-becoming-an-issue-of-concern\/&title=Junk SPACs are becoming an issue of concern\">\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=Junk+SPACs+are+becoming+an+issue+of+concern+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fjunk-spacs-are-becoming-an-issue-of-concern%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\/20\/junk-spacs-are-becoming-an-issue-of-concern\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562361\" class=\"content-area-description single-story post-562361 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance tag-sandy-robertson tag-spacs 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>Silicon Valley veteran is worried about the proliferation of <\/strong><strong>\u201cjunk\u201d SPACs: <\/strong>The meteoric growth in the number of blank check companies going public over the past year has drawn concern that acquired companies and SPAC investors will be harmed as the period of manic speculation comes to an end. The 50-year private equity veteran Sandy Robertson tells <a href=\"https:\/\/www.ft.com\/content\/36180ce3-1ae6-40a3-b3a3-9eb1b4312f3d\">the Financial Times<\/a> \u201ctime is running out\u201d for SPACs, as the fundamentals catch up with the over inflated valuations. The SPAC market has already lost a lot of air, with April being the slowest month for new blank-check IPOs since June 2020. Shares in some companies are down 80% and two-thirds are now trading under the standard USD 10 a share IPO price. Need a refresher on SPACs? <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">We\u2019ve got you covered<\/a>.<\/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>10,806<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -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>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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,373<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +19.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,519<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +29.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,711<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +8.8%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,116<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,950<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 66.61<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.96<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,870.80<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,105.08<\/p>\n<\/td>\n<td>\n<p>-6.74%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 0.2% at yesterday\u2019s close<\/strong> on turnover of EGP 1.82 bn (31.5% above the 90-day average). Regional investors were net buyers. The index is down -0.4% YTD.<\/p><p><strong>In the green: <\/strong>Qalaa Holdings (+3.4%), MM Group (+3.1%) and Edita (+3.1%).<\/p><p><strong>In the red: <\/strong>Orascom Development Egypt (-2.7%), GB Auto (-2.2%) and Heliopolis Housing (-1.6%).<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sandy-robertson\/\">Sandy Robertson<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/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=\"562362\" 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=\"562362\">\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\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-gaza\/\">\r\n                            Biden wants a \u201cde-escalation\u201d in Israel\u2019s attacks on 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\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-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\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-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\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-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=Biden wants a \u201cde-escalation\u201d in Israel\u2019s attacks on Gaza&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-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\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-gaza\/&title=Biden wants a \u201cde-escalation\u201d in Israel\u2019s attacks on 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=Biden+wants+a+%E2%80%9Cde-escalation%E2%80%9D+in+Israel%E2%80%99s+attacks+on+Gaza+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F20%2Fbiden-wants-a-de-escalation-in-israels-attacks-on-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\/20\/biden-wants-a-de-escalation-in-israels-attacks-on-gaza\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562362\" class=\"content-area-description single-story post-562362 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseam tag-lebanon 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>US President Joe Biden told Israeli Prime Minister Benjamin Netanyahu yesterday<\/strong> <strong>that he \u201cexpected a significant de-escalation\u201d<\/strong> in the violence with Gaza as a step towards a ceasefire, according to <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/05\/19\/readout-of-president-joseph-r-biden-jr-call-with-prime-minister-benjamin-netanyahu-of-israel-5\/\">a White House statement<\/a> detailing a call between the two leaders. Biden again stopped short of demanding that Israel agree to a ceasefire, and Netanyahu <a href=\"https:\/\/www.facebook.com\/IsraeliPM\/posts\/4619636058051103\">later said<\/a> that he is \u201cdetermined to continue this operation until its objective is achieved.\u201d<\/p>\n<p><strong>In a \u201csymbolic\u201d move, US House Democrats proposed a resolution to block the USD 735 <\/strong><strong>mn arms sale to Israel<\/strong> that Biden <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e880b83f-e080-493f-ad62-c1cdcc31482b\">approved earlier this week<\/a>, although the resolution is unlikely to progress and the sale will likely receive lawmakers\u2019 approval, <a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-house-democrats-offer-resolution-blocking-735-million-israel-weapons-sale-2021-05-19\/\">Reuters<\/a> says.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>Moscow and Washington could smooth over their tensions<\/strong>, after Russian Foreign Minister Sergei Lavrov and US Secretary of State Antony Blinken said they would work on developing their relationship following a meeting in Iceland yesterday, according to the <a href=\"https:\/\/www.ft.com\/content\/6d90194e-c8aa-4eb6-aedb-40b595f56cc3\">Financial Times<\/a>.<\/li>\n<li><strong>Lebanese foreign minister steps down:<\/strong> Foreign Minister Charbel Wehbe has resigned after Gulf states expressed anger at his comments accusing them of supporting Daesh, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanons-foreign-minister-asks-quit-after-comments-strained-gulf-ties-2021-05-19\/\">Reuters<\/a>reports.<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562363\" 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=\"562363\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/20\/my-morning-routine-menna-shams-el-din-senior-director-of-investor-relations-and-business-development-at-edita\/\">\r\n                            My Morning Routine: Menna Shams El Din, senior director of investor relations and business development at Edita                        <\/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\/20\/my-morning-routine-menna-shams-el-din-senior-director-of-investor-relations-and-business-development-at-edita\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week Menna Shams El Din, senior director of investor relations and business development at Edita (<a href=\"https:\/\/eg.linkedin.com\/in\/menatallah-shams-el-din-1bb4a643\">LinkedIn<\/a>).<\/p>\n<p><strong>I\u2019m Menna Shams El Din, senior director of investor relations and business development at Edita <\/strong>and the board of directors\u2019 secretary of corporate affairs. Over the past 17 years, I've worked in research, banking and corporate strategy at several domestic and global investment banks between Egypt and Dubai.<\/p>\n<p><strong>Leading the IR program for an EGX-listed company means managing lots of communication:<\/strong> It involves communicating our investment case and investment strategy to deliver long term shareholder value. Part of my mandate is also managing media, corporate communications and regulatory affairs.<\/p>\n<p><strong>I usually wake up by 7am and ease into the day at home before heading into the office.<\/strong> I start my morning routine with a cup of coffee and Enterprise to stay up to date with everything going on. I typically take it slow in the morning so I might watch something for a bit before spending 15-20 minutes doing my transcendental meditation practice, which helps keep me aligned and grounded. It\u2019s one of the best things I\u2019ve learned in my life, it puts me on the right track for the day ahead and has great benefits in the long term.<\/p>\n<p><strong>I like to write down a list of five key things I want to get done during the day<\/strong> so when I get to the office, the most important things are accomplished. This method allows my schedule \u2014 rather than being mostly driven by interruptions \u2014 to guide the day. On my short commute to the office I typically have a quick five-minute conversation on the phone with a childhood friend, which helps maintain relationships and keep in touch, especially with our busy lives.<\/p>\n<p><strong>By the time I make it into the office at 9am, I've already been awake for a long enough time that I\u2019m well in the mood for work.<\/strong> I start my day at the office by reading daily news. My favorite is Pharos\u2019 pre-trading thoughts \u2014 which is great because it links fundamentals to actionable ideas \u2014 then I meet with the investor relations teams. Some days are focused on IR, sometimes on corporate affairs, sometimes on regulatory stuff. I wrap up my day around 6pm, but sometimes I take late meetings or investor calls later in the evening, which is just the nature of IR.<\/p>\n<p><strong>The lR lifestyle has dramatically changed since the start of the pandemic<\/strong>. Between roadshows and conferences, we used to move a lot more than we do now. I remember we used to travel at least once a month between London, Cape Town, New York, and Dubai to meet face-to-face with global investors and funds. Now, most of our conferences and meetings take place virtually.<\/p>\n<p><strong>In my downtime, I usually like to schedule some form of exercise or yoga and I regularly see friends and family.<\/strong> Every two weeks or so I try to get out of the city to a weekend destination such as Ain El Sokhna or for some kind of retreat. Sinai is one of my favorite places to go in Egypt \u2014 it has great energy, and I loved Siwa as well. Al Tarfa Eco-lodge at Al Dakhla is lovely too.<\/p>\n<p><strong>When the pandemic first broke out, we quickly developed new norms to respond to the new dynamics of our changing environment.<\/strong> Initially, Edita took the proactive step of establishing a committee to implement and monitor the company\u2019s guidelines for safety and business continuity. We have specific policies and procedures in place and these are regularly reviewed and updated in accordance with on-the-ground developments. Of course, it\u2019s a huge responsibility for management and it is more difficult when you have thousands of industrial production workers.<\/p>\n<p><strong>We have a rotation system in place now for our office staff, which splits every department in half and runs every other day.<\/strong> We had this system in place at the start of the pandemic and we just recently reintroduced it as this third wave started picking up. Unlike some multinational companies, who were testing out flexible work models and had the right infrastructure to shift online, we didn't have a WFH culture in place at Edita before the pandemic. I prefer working from the office though \u2014 it makes a difference with engagement.<\/p>\n<p><strong>Covid has drastically changed the investment landscape.<\/strong> Foreign flows into the equity market is very limited now and the market is mostly dominated by retail investors. The landscape has dramatically changed from what it was before the pandemic and so has our IR strategy. In terms of mobility, you now have restricted exposure to investors, so communications have to change along with the circumstances. On a positive note, we are seeing foreign investors in particular taking a growing interest in environmental, social, and governance (ESG) performance of the companies they invest in, and Edita issues an annual sustainability report on these measures.<\/p>\n<p><strong>Diversity of experience and balance are crucial for getting through a crisis.<\/strong> Being good at what you do isn't enough, the things that personally add value to my life and have helped me adapt to challenges are the diversity of my experiences. Working in different industries, beyond investment, and my interest in alternative medicine and spirituality, <strong>I have a lot of interest in alternative medicine and holistic healing in general<\/strong>, helped me a lot in having a relatively resilient attitude. I also like reading about different disciplines that are unrelated to my career and frequently go on yoga retreats, silent retreats, and water fasts.<\/p>\n<p><strong>I've been into nutrition recently so I\u2019ve been reading books by<\/strong><strong><a href=\"https:\/\/www.goodreads.com\/author\/show\/7554742.Izabella_Wentz\">Isabella Wentz<\/a><\/strong>, who\u2019s a nutritionist and a pharmacist by training. Another good read is a tiny book called <a href=\"https:\/\/www.goodreads.com\/book\/show\/143877.Freedom_from_the_Known\">Freedom from the Known by Jiddu Krishnamurti<\/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\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investor-relations\/\">Investor relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/menna-shams-el-din\/\">Menna Shams El Din<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562365\" 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\/20\/your-essential-business-calendar-on-20-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562365\" class=\"content-area-description single-story post-562365 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>24-26 May (Monday-Wednesday): British Egyptian Business Association virtual healthcare week.<\/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>7 June (Monday): British Egyptian Business Association hosts event featuring Oil Minister Tarek El Molla.<\/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":562340,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562339","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"593191e5-e75c-41fe-b3a4-85e87ebb86cd","teaser":"","photo_url":"https:\/\/ent.news\/2021\/5\/164.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>EFG gets nod to take majority stake in AIB + IDH starts trading today on the EGX - 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\/efg-gets-nod-to-take-majority-stake-in-aib-idh-starts-trading-today-on-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG gets nod to take majority stake in AIB + IDH starts trading today on the EGX\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-gets-nod-to-take-majority-stake-in-aib-idh-starts-trading-today-on-the-egx\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:40:29+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\/164.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\/efg-gets-nod-to-take-majority-stake-in-aib-idh-starts-trading-today-on-the-egx\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/efg-gets-nod-to-take-majority-stake-in-aib-idh-starts-trading-today-on-the-egx\/\",\"name\":\"EFG gets nod to take majority stake in AIB + IDH starts trading today on the EGX - 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