{"id":562376,"date":"2021-05-23T04:06:46","date_gmt":"2021-05-23T04:06:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562376"},"modified":"2025-12-16T03:41:24","modified_gmt":"2025-12-16T03:41:24","slug":"cbe-to-issue-digital-banking-regs-as-early-as-july","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-to-issue-digital-banking-regs-as-early-as-july\/","title":{"rendered":"CBE to issue digital banking regs as early as July"},"content":{"rendered":"<section id=\"562378\" 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=\"562378\">\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\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/\">\r\n                            THIS MORNING: Court rulings on Ever Given coming today + two jabs give good protection against Indian covid-19 strain                        <\/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\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/\" 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\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/')\">\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\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/\">\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: Court rulings on Ever Given coming today + two jabs give good protection against Indian covid-19 strain&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/\">\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\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/&title=THIS MORNING: Court rulings on Ever Given coming today + two jabs give good protection against Indian covid-19 strain\">\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+Court+rulings+on+Ever+Given+coming+today+%2B+two+jabs+give+good+protection+against+Indian+covid-19+strain+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fthis-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain%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\/23\/this-morning-court-rulings-on-ever-given-coming-today-two-jabs-give-good-protection-against-indian-covid-19-strain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562378\" class=\"content-area-description single-story post-562378 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-ever-given tag-house-of-representatives tag-legislation-watch tag-suez-canal tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to the last full week of May <\/strong>as we continue our post-Ramadan sprint to the end of the first half. We hope you enjoyed the beautiful weekend weather as much as we did \u2014 and that you\u2019re looking forward to a pleasantly productive week.<\/p><p><strong>THE BIG STORY of the day is the same at home and abroad, as pundits emphasize that <\/strong><strong>Egypt has again underscored its \u201crelevance\u201d <\/strong>to the \u201cMideast peace process\u201d by brokering a ceasefire between Israel and Hamas, bringing to a standstill the latest conflict between our neighbors to our east. Critically, Egypt\u2019s diplomatic intervention <strong>saw President Abdel Fattah El Sisi on the phone with Joe Biden<\/strong>, who had come under pressure from top advisors to distance his administration from Cairo. Everyone from the <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/sissi-israel-gaza-ceasefire-biden-egypt\/2021\/05\/21\/fb054dc8-b9c9-11eb-bc4a-62849cf6cca9_story.html\">Washington Post<\/a> to <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-05-18\/gaza-fighting-is-a-reminder-of-egypt-s-relevance-to-the-middle-east\">Bloomberg<\/a> and the <a href=\"https:\/\/www.csmonitor.com\/Commentary\/the-monitors-view\/2021\/0521\/Egypt-the-calm-maker\">Christian Science Monitor<\/a> has picked up on the shift.<\/p><p><strong>You can catch the <\/strong><strong><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1156634144855964\">Ittihadiya<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/05\/20\/readout-of-president-joseph-r-biden-jr-call-with-president-abdel-fattah-al-sisi-of-egypt\/\">White House<\/a><\/strong><strong> readouts <\/strong>of the conversation between the two leaders here, and we have chapter and verse in this morning\u2019s news well, below.<\/p><p><strong>FROM THE DEPT. OF REALLY GOOD NEWS- <\/strong>New data suggests that two jabs of Pfizer \/ BioNTech or of the Oxford \/ AstraZeneca provide good protection against the B.1.617.2 \u201cIndian\u201d strain of concern, according to new research out of the UK. The story tops front pages from <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/two-covid-shots-effective-against-india-variant-english-health-body-2021-05-22\/\">Reuters<\/a> to the <a href=\"https:\/\/www.ft.com\/content\/e7147144-11ff-45bc-96f1-236380c9df5d\">Financial Times<\/a>. The news comes as AstraZeneca\u2019s chief executive gave his <a href=\"https:\/\/www.ft.com\/content\/02c543e0-45a6-4189-94cf-30a5c3d5499d\">first interview<\/a> following a \u201cstring of setbacks\u201d including the emergence of very rare fatal side-effects from the jab.<\/p><p><strong>On a down note: The country bade farewell this weekend to veteran actor Samir <\/strong><strong>Ghanem and business leader Ahmed Bahgat. <\/strong>We take note of their passing this morning in On Your Way out, below.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from Thursday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>IDH comes home:<\/strong> Shares of Integrated Diagnostics Holding <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48ddada3-0016-47a8-a9e6-201cb9d0cca7\">have started trading<\/a> on the EGX in the country\u2019s first-ever technical listing.<\/li>\n<li><strong>EFG Hermes is well on its way to becoming a universal bank:<\/strong> EFG Hermes and the Sovereign Fund of Egypt have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/725b8748-3b40-48db-9e92-01f579d70b04\">signed an agreement<\/a> to acquire a 76% stake in the Arab Investment Bank.<\/li>\n<li><strong>Zabaleen are getting new competition:<\/strong> Four ministries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef8aa3c3-29d5-4fd1-abc5-12ce80198c77\">signed contracts<\/a> with Ertekaa Integrated Services &amp; Waste Recycling and Enviro Master Environmental Services to handle solid waste management in eastern and western Cairo.<\/li>\n<\/ul><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>Will a court decision release the Ever Given today?<\/strong> We\u2019re going to hear today from an Ismailia court on whether the Suez Canal Authority will be ordered to release the Ever Given, which it has impounded as it seeks compensation from the vessel\u2019s owners. The mega-vessel paralyzed global shipping for days earlier this year after it ran aground in the Suez Canal. We have the story in this morning\u2019s news well, below.<\/p><p><strong>The House of Representatives has a stacked agenda to start the week.<\/strong> On the general assembly\u2019s docket today:<\/p><ul>\n<li>A bill to <strong>bring a minimum wage increase into effect as of 1 July<\/strong>, after the Madbouly Cabinet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e7f82a2-3966-456d-964e-aa822efc3046\">signed off<\/a> on the move last week;<\/li>\n<li>A bill to set up an <strong>investment fund for endowments<\/strong>;<\/li>\n<li>A bill allowing employers to <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3bde80a-b8e2-494e-b599-8bd9d61a3401\">automatically dismiss<\/a><\/strong><strong> civil servants who fail dope tests<\/strong>, eliminating the need to refer the employees to court before sacking them.<\/li>\n<\/ul><p><strong>Housing Minister Assem El Gazzar will also make an appearance at the House on <\/strong><strong>Tuesday<\/strong> to respond to MPs\u2019 inquiries about his ministry\u2019s sewage and potable water projects.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The third edition of Egypt's Green Economy Forum will be held on 14 June<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/5\/3rd-Forum-on-Strategies-For-Transition-To-Green-Economy-AR.pdf\">statement (pdf)<\/a>. Among the speakers: CIB Chief Sustainability Officer <strong>Dalia Abdel Kader<\/strong>, CDC Group's Egypt Coverage Director <strong>Sherine Shohdy<\/strong>, and <strong>Mayada Magdy<\/strong>, chief program officer of Japan International Cooperation Agency in Egypt.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"562379\" 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=\"562379\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/562379\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562379\" class=\"content-area-description single-story post-562379 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/SOMA-ENTERPRISE-WHITEBEACH-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=\"562380\" 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=\"562380\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cbe-to-issue-regulatory-framework-for-specialized-banks-by-july\/\">\r\n                            CBE to issue regulatory framework for specialized banks by July?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cbe-to-issue-regulatory-framework-for-specialized-banks-by-july\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The framework, to be issued by the Central Bank of Egypt, would clearly outline the approach the CBE plans to take to the still-nascent sector.<\/p>\n<p><strong>So, what\u2019s a \u201cspecialized bank\u201d? Think \u201cdigital.\u201d <\/strong>Broadly speaking, it\u2019s a term that has come to include upstarts that would (a) be \u201cdigital first\u201d by eschewing brick-and-mortar branches; or (b) focus on small and medium-sized businesses or (c) reach out to the unbanked, including through services including small savings accounts and remittances.<\/p>\n<p><strong>The CBE has so far received five applications from banks wishing to launch a digital banking arm <\/strong>\u2014 including the <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/10\/national-bank-of-egypt-seeks-cbes-approval-to-establish-a-digital-bank-next-year-8174\/\">National Bank of Egypt<\/a>, Banque Misr, Emirates NBD, QNB Al Ahli and Bank ABC \u2014 but will begin studying them once the law is approved, sources previously told Masrawy. Media reports also suggested Baraka Bank and the Suez Canal Bank were interested in getting in on the digital banking space.<\/p>\n<p><strong>Specialized banks are <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de231516-4157-411f-912e-4c3ff02bfdd6\">exempt from new capital requirements<\/a><\/strong><strong> in the proposed Banking Act: <\/strong>Under the legislation, the amount of capital these banks would be required to hold would be set on a case-by-case basis, exempting them from complying with the EGP 5 bn in reserve mandated by the law for local commercial banks. Banks that apply for the license would need to submit a market study and risk assessment, after which the CBE would set reserve capital requirements, deposit limits, and their ceiling for lending.<\/p>\n<p><strong>Already-licensed commercial banks won\u2019t automatically be granted a specialized banking license<\/strong>, meaning that only new banks and subsidiaries of existing ones can be defined as digital-first entities, with all banks currently operating in Egypt defined as commercial banks under the 2003 Banking Act, a CBE official previously told us.<\/p>\n<p><strong>Need a refresher on the new Banking Act?<\/strong> We have a rundown of the key provisions <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/egypts-cabinet-approves-new-banking-and-central-bank-act\/\">here<\/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\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking-act\/\">Banking Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"562382\" 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=\"562382\">\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\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/\">\r\n                            500k Sinopharm doses + raw materials to manufacture Sinovac land in Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=500k Sinopharm doses + raw materials to manufacture Sinovac land in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/&title=500k Sinopharm doses + raw materials to manufacture Sinovac land in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=500k+Sinopharm+doses+%2B+raw+materials+to+manufacture+Sinovac+land+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2F500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/500k-sinopharm-doses-raw-materials-to-manufacture-sinovac-land-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562382\" class=\"content-area-description single-story post-562382 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covax tag-covid-19 tag-economy tag-enterpriseam tag-imf tag-india tag-sinopharm tag-sinovac tag-vaccines tag-vacsera wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>State-owned Vacsera can now begin manufacturing China\u2019s Sinovac vaccine<\/strong> after the first batch of raw materials used to produce the jab arrived in Egypt on Friday, Health Minister Hala Zayed said in <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/385925376291414\">a statement<\/a>. The shipment is enough to produce 2 mn doses of the jab, which Vacsera aims to begin administering within two months. Egypt also hopes to begin manufacturing the vaccine\u2019s raw materials locally in the coming period, and will export any excess vaccine supplies to African countries once local needs are met, the minister said. Egypt has already established a production line for the vaccine through Vacsera, with a second manufacturing facility set for completion \u201csoon\u201d in Sixth of October City. <strong>Expect as many as 40 mn doses of the locally-made Sinovac vaccine to be produced <\/strong><strong>during the coming period<\/strong>, Zayed said, without disclosing a specific timeline.<\/p>\n<p><strong>VACCINE SUPPLY UPDATE- Egypt received on Friday another 500k-shot shipment of <\/strong><strong>Sinopharm, China\u2019s other covid-19 vaccine<\/strong>, the Health Ministry said. Egypt has so far received 3 mn doses of a 20 mn dose agreement, Zayed said. A new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8cccde8-ccde-47a6-8e76-b86ec514dcd5\">1.9 mn-jab batch<\/a> of Oxford \/ AstraZeneca vaccines is also expected to be delivered through the Gavi \/ Covax program during the first week of June, while a shipment <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8cccde8-ccde-47a6-8e76-b86ec514dcd5\">of 1 mn doses of China's Sinovac vaccine<\/a> will arrive by the end of May or during the first week of June.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/387013912849227\/\">reported<\/a><\/strong><strong> 1,151 new covid-19 infections yesterday<\/strong>, up from 1,148 the day before. The ministry also reported 59 new deaths, bringing the country\u2019s total death toll to 14,670. Egypt has now disclosed a total of 252,690 confirmed cases of covid-19.<\/p>\n<p><strong>The Health Ministry will be able to add 1k ICU beds and 500 ventilators to its <\/strong><strong>emergency covid-19 response arsenal<\/strong> thanks to an additional EGP 260 bn from state coffers for the current fiscal year, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1936662053178817\">a Planning Ministry statement<\/a>.<\/p>\n<p><strong>Pfizer and BioNTech have pledged to deliver 2 bn doses of <\/strong><strong>their jab through Covax<\/strong> as calls for equitable vaccine distribution increase, <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/pfizer-biontech-have-yet-decide-whether-covax-handle-vaccine-pledge-poorer-2021-05-21\/\">Reuters<\/a> reports. Vaccine batches will be provided \u201cthrough bilateral agreements, agreements with supranational organizations, as well as our partnership with Covax,\u201d a Pfizer spokesman said at the G20 Global Health Summit in Rome Friday.<\/p>\n<p><strong>Covax will also acquire 200 mn shots of Johnson & Johnson\u2019s jab to be sent out to <\/strong><strong>dozens of low- and middle-income nations<\/strong> under an agreement signed between the two on Friday, according to <a href=\"https:\/\/www.gavi.org\/news\/media-room\/gavi-signs-agreement-johnson-johnson-supply-its-covid-19-vaccine-covax\">a statement<\/a>. <strong>Johnson & Johnson is already sending Egypt 20 mn doses of its single-shot jab<\/strong>, head of the Egyptian Authority for Unified Procurement Bahaa El Din Zidan said last week. These doses would be separate from the shots we could be receiving through Covax and from the 4 mn doses that are said to be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">delivered in 4Q2021<\/a>, which will likely be received through <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a6d002d-541a-4e41-a268-0ae1c275a482\">the African Union<\/a>.<\/p>\n<p><strong>The IMF\u2019s USD 50 bn plan to end the pandemic:<\/strong> A <a href=\"https:\/\/blogs.imf.org\/2021\/05\/21\/a-proposal-to-end-the-covid-19-pandemic\/\">multi-bn USD plan<\/a> unveiled by the IMF on Friday aims to fully vaccinate the world\u2019s population by the first half of 2022. The Fund thinks it is possible to fully inoculate at least 40% of the world\u2019s population by the end of 2021, and the remaining 60% in the front half of 2022. A rapid end to the pandemic could add USD 9 tn to the global economy by the middle of the decade, the IMF estimates.<\/p>\n<p><strong>Breakdown:<\/strong> The USD 50 bn is a combination of at least USD 35 bn of grants, USD 15 bn from national governments and low-cost lending from multilateral lenders, the IMF said. Rich nations are being asked to contribute most to this effort, but would see the bulk of the benefits, chief Kristalina Georgieva said as she presented the plan to world leaders at the G20 Summit, <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/imf-says-ending-covid-19-pandemic-possible-cost-some-50-billion-2021-05-21\/\">Reuters<\/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\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vacsera\/\">Vacsera<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562383\" 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=\"562383\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/562383\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562383\" class=\"content-area-description single-story post-562383 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='e2-Alamein.com'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/IDG-Ad-Week-1-Generic-1600x1200-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>If you are ready to expand your business operations, industrial complexes on Egypt\u2019s<\/strong> <strong>North Coast are the place to be.<\/strong> Our industrial park e<sup>2<\/sup> Alamein makes long-term business planning quick and seamless, and offers you smart solutions aligned with a circular economy that optimize shared resources, helping you leave a positive impact on your surroundings. An up-and-coming trade center with proximity to vacation spots, trade ports, and agricultural land, the park has all your business needs covered, from land plot sales to tailored leasing, pre-built factories and warehouses; a pollution-less business environment; and business partners that will handle all licensing and permissions for you. Powered by Industrial Development Group, e<sup>2<\/sup> Alamein is redefining industrial operations in Egypt, and is right where your business should be.<\/p>\n<p>For more information, visit <a href=\"http:\/\/e2-alamein.com\/\">e2-Alamein.com<\/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=\"562384\" 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=\"562384\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/not-so-fast-faangs\/\">\r\n                            Not so fast, FAANGs                        <\/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\/23\/not-so-fast-faangs\/\" 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\/23\/not-so-fast-faangs\/')\">\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\/23\/not-so-fast-faangs\/\">\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=Not so fast, FAANGs&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/not-so-fast-faangs\/\">\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\/23\/not-so-fast-faangs\/&title=Not so fast, FAANGs\">\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=Not+so+fast%2C+FAANGs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fnot-so-fast-faangs%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\/23\/not-so-fast-faangs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/186.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562385\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/not-so-fast-faangs\/186-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/186.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"186.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/186.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/186.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562384\" class=\"content-area-description single-story post-562384 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-e-commerce tag-enterpriseam tag-tax tag-technology tag-vat 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>Multinational tech firms would be made to charge VAT on e-commerce<\/strong> <strong>sales in Egypt in two phases<\/strong> under amendments to the VAT Act being considered by the government, <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5497247?t=push\">El Watan<\/a> reports, citing a source at the House Economic Committee. The changes would be phased in over two years and would see international companies that don\u2019t pay tax in Egypt required to collect and remit 14% VAT on transactions for digital goods and services, the source said.<\/p>\n<p><strong>Phase #1:<\/strong> Providers of digital services would be first to comply with the amendments. Under the proposals, platforms would begin collecting VAT and filing returns a maximum of six months after the law comes into effect.<\/p>\n<p><strong>Phase #2:<\/strong> Businesses that sell goods online would be next up, and would be expected to start complying with the amendments up to two years after they become the law of the land.<\/p>\n<p><strong>The goal is for offshore digital services firms to start paying their fair share. <\/strong>This comes a few months after Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10d2a2df-eb72-4873-be6b-0a4857a8b8fc\">ratified an international convention<\/a> designed to make it harder for multinational companies to avoid tax in countries where they aren\u2019t registered. <strong>There\u2019s a growing move to do this everywhere from Europe to Canada<\/strong>, and the Biden Administration seems to have stepped back (a bit) from its predecessor\u2019s blanket opposition to the move.<\/p>\n<p><strong>Keep an eye on the upcoming <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10d2a2df-eb72-4873-be6b-0a4857a8b8fc\">E-Commerce Act<\/a>, which should set a tax framework for online ads and online product sales, as well as the operations of FAANG companies (Facebook, Amazon, Apple, Netflix, and Alphabet), which could also be affected by a proposed <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/03\/finmin-looks-to-tax-the-living-daylights-out-of-social-media-ads-e-commerce-players\/\">15-20% stamp tax<\/a> on social media purchases. The bill has been under cabinet review, and is expected to be passed to Parliament soon.<\/p>\n<p><strong>The gov\u2019t is looking to broaden its tax base:<\/strong> The government is looking to increase its tax takings by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">18% in the coming fiscal year<\/a>, which will raise revenues to EGP 983 bn compared to the EGP 830 bn forecast for FY2020-2021. VAT revenues are currently expected to fall, with the draft budget forecasting EGP 390 mn in VAT receipts during FY2021-2022, down slightly from a projected EGP 401 mn 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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/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=\"562386\" 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=\"562386\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/not-a-developer-no-land-for-you\/\">\r\n                            Not a developer? No land for you.                        <\/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\/23\/not-a-developer-no-land-for-you\/\" 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\/23\/not-a-developer-no-land-for-you\/')\">\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\/23\/not-a-developer-no-land-for-you\/\">\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=Not a developer? No land for you.&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/not-a-developer-no-land-for-you\/\">\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\/23\/not-a-developer-no-land-for-you\/&title=Not a developer? No land for you.\">\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=Not+a+developer%3F+No+land+for+you.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fnot-a-developer-no-land-for-you%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\/23\/not-a-developer-no-land-for-you\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/187.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562387\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/not-a-developer-no-land-for-you\/187-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/187.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"187.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/187.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/187.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562386\" class=\"content-area-description single-story post-562386 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-building-code tag-construction tag-enterpriseam tag-real-estate tag-regulation 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>Looking to put up a building in a new city? You\u2019ll need to be a real estate <\/strong><strong>developer to get the land.<\/strong> New city authorities are no longer permitted to sell land earmarked for construction to individuals after the Housing Ministry issued a decree limiting sales to real estate developers, <a href=\"https:\/\/bit.ly\/347d7a7\">Al Mal<\/a> reports. The decree also allows the land to be used for government projects, the newspaper says, without providing further details.<\/p>\n<p><strong>Is this part of the new construction regulations we\u2019ve been waiting on?<\/strong> It\u2019s not entirely clear, but it appears to be part of the government\u2019s wider effort to crack down on wildcat and disorganized construction in the country. The government had ordered a ban <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec8c2b4f-f425-443e-ad0a-82c4e82b1578\">last May<\/a> on construction permits in urban centers as it works on new regulations that are expected to govern everything from building height, ratios, and usage to urban coordination and red tape. Last we heard, the Local Development Ministry began trialing the new regulations at the beginning of <a href=\"https:\/\/bit.ly\/3bOsBE9\">this month<\/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\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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=\"562388\" 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=\"562388\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/\">\r\n                            Egypt-brokered Israel + Hamas ceasefire takes hold                        <\/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\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/\" 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\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/')\">\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\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt-brokered Israel + Hamas ceasefire takes hold&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/\">\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\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/&title=Egypt-brokered Israel + Hamas ceasefire takes hold\">\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-brokered+Israel+%2B+Hamas+ceasefire+takes+hold+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fegypt-brokered-israel-hamas-ceasefire-takes-hold%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\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/188.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562389\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-brokered-israel-hamas-ceasefire-takes-hold\/188-jpg-59\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/188.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"188.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/188.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/188.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562388\" class=\"content-area-description single-story post-562388 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-hamas tag-human-rights tag-israel tag-joe-biden tag-palestine tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Israel and Hamas agreed to an Egypt-brokered ceasefire starting 2 am on Friday. <\/strong>The quiet followed 11 days of violence, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/hamas-official-predicts-ceasefire-soon-israel-gaza-fight-goes-2021-05-19\/\">Reuters<\/a> reports. The terms of the ceasefire are still unclear, according to the <a href=\"https:\/\/apnews.com\/article\/donald-trump-africa-middle-east-egypt-religion-59df63d3da25c244afc2580080fe5435\">Associated Press<\/a>, which stressed Egypt\u2019s instrumental role in brokering the agreement. The ceasefire came into effect a day after reports had suggested Israel and Hamas <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/039377ac-4798-45c2-8c72-33391611063c\">rejected an Egypt-led ceasefire proposal<\/a> that was supported by the US and EU.<\/p>\n<p><strong>The halt was conditional on reciprocity: <\/strong>Hamas said the ceasefire would be \"mutual and simultaneous,\u201d and that it would abide by the truce so long as Israel did the same. Israeli Prime Minister Benjamin Netenyahu\u2019s office, however, said the Israeli security cabinet was in favor of a \u201cmutual and unconditional\u201d truce.<\/p>\n<p><strong>There was a bit of a \u2026 hiccup on Friday as Israeli forces \u201csuppressed riots\u201d from Palestinians at Al Aqsa mosque on Friday<\/strong>, though this does not seem to have affected the ceasefire agreement, the <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-57195537\">BBC<\/a> reports, which was still in effect as of Saturday evening.<\/p>\n<p><strong>An Egyptian delegation has been working to firm up the truce<\/strong><strong> since Friday<\/strong>, engaging in shuttle diplomacy to \u201csecure a long-term end to the violence,\u201d according to <a href=\"https:\/\/www.voanews.com\/middle-east\/israel-hamas-cease-fire-holds-egypt-mediates-long-term-truce\">VOA News<\/a>. The delegation is also working to include an aid package for Palestinians in Gaza as officials assess the extent of the damage of the violence, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-ceasefire-holding-egyptian-mediators-consult-hamas-israel-2021-05-22\/\">Reuters<\/a> reports. The <a href=\"https:\/\/www.latimes.com\/world-nation\/story\/2021-05-22\/egyptian-mediators-talks-israel-hamas-truce\">Associated Press<\/a> also had the story, and Kelma Akhira\u2019s Lamees El Hadidi took note (<a href=\"https:\/\/www.youtube.com\/watch?v=tqx0uUuwOEU\">watch, runtime: 2:10<\/a>).<\/p>\n<p><strong>US Secretary of State Antony Blinken will visit Palestine, Israel, Egypt, and Jordan as Washington also seeks to build on the ceasefire<\/strong>, <a href=\"https:\/\/www.reuters.com\/article\/idUSKCN2D306Z\">Reuters<\/a> reports, citing an unnamed source with knowledge of the matter. Blinken will be in Israel and Palestine\u2019s West Bank on Wednesday and Thursday, but it is unclear when he will be in Amman and Cairo. Ala Mas\u2019ouleety\u2019s Ahmed Moussa suggests Blinken will land in Egypt on Wednesday before making his way to the other countries on his itinerary (<a href=\"https:\/\/www.youtube.com\/watch?v=CcMhukqmDAE\">watch, runtime: 6:30<\/a>).<\/p>\n<p><strong>The US will support Gaza\u2019s reconstruction:<\/strong> In a televised address, President Joe Biden said his country would cooperate with the United Nations to provide \u201crapid humanitarian assistance\u201d for the reconstruction of Gaza, but \u201cin a manner that does not permit Hamas to simply restock its military arsenal.\u201d <strong>Egypt had earlier pledged <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/039377ac-4798-45c2-8c72-33391611063c\">USD 500 mn<\/a><\/strong><strong> in aid <\/strong><strong>to rebuild Gaza<\/strong>, as well as a dedicated account number to receive donations for the Tahya Misr fund\u2019s provision of aid to the strip.<\/p>\n<p><strong>Taking stock of the losses:<\/strong> Israeli airstrikes left some 232 Palestinians, including 65 children, dead and over 1.9k injured. More than <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/hamas-official-predicts-ceasefire-soon-israel-gaza-fight-goes-2021-05-19\/\">72k Palestinians<\/a> in Gaza were displaced by the fighting, while some 12 Israelis were reportedly killed, with hundreds others suffering various injuries.<\/p>\n<p><strong>President Abdel Fattah El Sisi <\/strong><strong><a href=\"https:\/\/twitter.com\/AlsisiOfficial\/status\/1395515018591019010\">tweeted<\/a><\/strong><strong>his thanks to the US for supporting Egypt\u2019s ceasefire initiative<\/strong>, following a phone call with Biden \u2014 their first since the US president took office earlier this year. The two presidents said they want to cooperate more closely in the coming period to address \"unprecedented regional and international challenges,\" according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1156634144855964\">Ittihadiya<\/a>statement. The White House also <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/05\/20\/readout-of-president-joseph-r-biden-jr-call-with-president-abdel-fattah-al-sisi-of-egypt\/\">confirmed<\/a> that both leaders agreed to \u201cstay closely in touch.\u201d<\/p>\n<p><strong>The successful ceasefire bolstered Egypt\u2019s diplomatic credentials:<\/strong> Egypt\u2019s \u201cunique\u201d role in the ceasefire showcases \u201cits regional relevance and influence to all parties concerned, including the United States,\u201d Michael Hanna, the US program director at the International Crisis Group, told the Associated Press. Political analyst Mustafa Kamel El Sayed said El Sisi had already shown to the US that \u201che could be an effective actor on the Middle East scene,\u201d the <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/sissi-israel-gaza-ceasefire-biden-egypt\/2021\/05\/21\/fb054dc8-b9c9-11eb-bc4a-62849cf6cca9_story.html\">Washington Post<\/a> reports. The successful mediation has also reaffirmed the expectation that Cairo will continue to be Washington\u2019s go-to ally to troubleshoot any further problems between Israel and Hamas, New York-based think tank Council on Foreign Relations\u2019 Middle East expert Steven Cook tells the <a href=\"https:\/\/www.wsj.com\/articles\/egypt-played-central-role-in-israeli-palestinian-cease-fire-11621639476?page=1\">Wall Street Journal<\/a>.<\/p>\n<p><strong>And could help thaw testy Egypt-US relations: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6decddaf-1e4f-4574-9773-6c8ea237eab6\">Earlier reports<\/a> suggested that the US could suspend annual military aid to Egypt due to concerns over human rights, but \u201cEgypt\u2019s hand in the truce could shift the narrative in Washington,\u201d analysts told the Washington Post.<\/p>\n<p><strong>Shoukry<\/strong><strong> takes a victory lap:<\/strong> Foreign Minister Sameh Shoukry <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5649410055130894\">spoke on Friday<\/a> with his Israeli counterpart Gabi Ashkenazi, who thanked him for Egypt\u2019s work in mediating the ceasefire. Shoukry had similar calls with the foreign ministers of <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5652881398117093\">Bahrain<\/a> and <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5653735151365051\">Norway<\/a>. Egypt\u2019s role also garnered praise from Europe, which France described as \u201cabsolutely key\u201d in stopping the violence, according to <a href=\"https:\/\/www.csmonitor.com\/Commentary\/the-monitors-view\/2021\/0521\/Egypt-the-calm-maker\">the Christian Science Monitor<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hamas\/\">Hamas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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\/joe-biden\/\">Joe Biden<\/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\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562390\" 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=\"562390\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\">\r\n                            Suez receipts rise in April following Ever Given debacle                        <\/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\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\" 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 number of ships passing through the Canal also rose by some 4.8% to 1,814 ships, compared to 1,731 during the same month last year, the authority said.<\/p>\n<p><strong>A rebound from a dismal March:<\/strong> The rise in revenues from the Suez Canal \u2014 a key source of foreign currency that was already hit hard by the pandemic \u2014 came after the Ever Given mega container vessel blocked the waterway for six days at the end of March, causing the government to miss out on an estimated some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dadbd6d3-070d-4c92-a080-62ebf8ceced1\">USD 90 mn in revenues<\/a>. Receipts fell to USD 439.4 mn during the month from USD 474.1 mn in February.<\/p>\n<p><strong>Receipts hit pre-covid levels at the end of last year:<\/strong> Suez Canal revenues were only fractionally below pre-pandemic levels in 4Q2020, coming in at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7042bbd-cedd-44cb-aefb-6ea18b372cd4\">USD 1.51 bn<\/a> from USD 1.52 bn in the same period in 2019.<\/p>\n<p><strong>The recovery in receipts comes as an Ismailia court is due to announce two <\/strong><strong>separate verdicts related to the Ever Given today:<\/strong> The first ruling is on the Suez Canal Authority\u2019s (SCA) USD 600 mn compensation claim for the losses incurred by the mega vessel blocking the waterway, while the second is the court\u2019s verdict on Ever Given owner Shoei Kisen\u2019s appeal against the ship\u2019s seizure, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-22\/egypt-court-to-rule-on-ever-given-in-suez-canal-case-on-sunday?sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p>\n<p><strong>Could things go Shoei Kisen\u2019s way?<\/strong> The ship owner\u2019s lawyers argued at a court hearing yesterday that the SCA was at fault for allowing the ship to enter the canal in the midst of a storm and without tugboats accompanying it through the route, <a href=\"https:\/\/www.reuters.com\/world\/ship-owner-says-suez-canal-was-fault-over-ever-given-grounding-lawyer-2021-05-22\/\">Reuters<\/a> reports. The lawyers also argued that dislodging the Ever Given from the canal\u2019s banks was part of the SCA\u2019s responsibilities as per their traffic contract, meaning the entire ordeal should not be technically classified as a \u201csalvage operation,\u201d and the SCA should not be seeking compensation. The ship\u2019s black box also reportedly showed the ship\u2019s captain and the SCA\u2019s pilot \u2014 who was on board the ship \u2014 were at odds over how to steer the ship through the canal, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=22052021&id=4cbf86f7-c865-4df2-88a8-5047a5e2c020&fbclid=IwAR3BUiD3SCu2GcffUoGmSQne8iqp_bRHsG9je_qnyWBb3nyiaMBxdXM1VSk\">Al Shorouk<\/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\/ever-given\/\">Ever Given<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shoei-kisen\/\">Shoei Kisen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562392\" 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=\"562392\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/tays-lands-seven-figure-pre-seed-investment\/\">\r\n                            Tays lands seven-figure pre-seed investment                        <\/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\/23\/tays-lands-seven-figure-pre-seed-investment\/\" 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\/23\/tays-lands-seven-figure-pre-seed-investment\/')\">\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\/23\/tays-lands-seven-figure-pre-seed-investment\/\">\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=Tays lands seven-figure pre-seed investment&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/tays-lands-seven-figure-pre-seed-investment\/\">\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\/23\/tays-lands-seven-figure-pre-seed-investment\/&title=Tays lands seven-figure pre-seed investment\">\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=Tays+lands+seven-figure+pre-seed+investment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Ftays-lands-seven-figure-pre-seed-investment%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\/23\/tays-lands-seven-figure-pre-seed-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562392\" class=\"content-area-description single-story post-562392 post type-post status-publish format-standard hentry category-startup-watch tag-angel-investment tag-enterpriseam tag-startup-watch tag-startups 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>Egyptian networking app <\/strong><strong><a href=\"https:\/\/www.facebook.com\/Tays.network\">Tays<\/a><\/strong> <strong>has raised a seven-figure pre-seed investment <\/strong>from multiple angel investors, the startup said in a <a href=\"https:\/\/ent.news\/2021\/5\/Tays-pdf.pdf\">statement (pdf)<\/a>, without disclosing whether the sum is in EGP or USD. The company\u2019s investors include Google Ireland business development manager Karen Sewasa, Re\/max Middle East CEO Khaled Nasser, O7 Therapy founder and CEO Ashraf Bcheet, and Ahly Capital facility and procurement director Joseph Hanna. The startup will use the funding to launch its operations in Egypt and the MENA region.<\/p>\n<p><strong>About Tays:<\/strong> Tays connects users based on their professional interests and aspirations through a machine learning algorithm, helping them to grow their professional networks and develop social relationships.<\/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\/angel-investment\/\">Angel Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562393\" 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=\"562393\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/\">\r\n                            CIB net income up 20% in 1Q                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=CIB net income up 20% in 1Q&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/&title=CIB net income up 20% in 1Q\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=CIB+net+income+up+20%25+in+1Q+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fcib-net-income-up-20-in-1q%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/cib-net-income-up-20-in-1q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562393\" class=\"content-area-description single-story post-562393 post type-post status-publish format-standard hentry category-earnings-watch tag-banking tag-cib tag-earnings-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><\/a> <strong>Leading private-sector bank CIB\u2019s net income was up 20% y-o-y to EGP 2.87 bn <\/strong><strong>in <\/strong><strong>1Q2021<\/strong> compared to EGP 2.4 bn the year before, according to the bank\u2019s <a href=\"https:\/\/ent.news\/2021\/5\/CIB-Consolidated-financial-statements-Mar-2021-English.pdf\">earnings statement (pdf)<\/a>. Revenues for the quarter came in at EGP 6.27 bn, a 2% y-o-y dip. An 8% y-o-y decline in net interest income due to the maturities of high yielding bonds was offset by an almost threefold increase in non-interest income to EGP 590 mn. \u201cThis quarter witnessed favorable balance sheet growth, especially on the local currency front,\u201d the bank said. \u201cThis \u2026 contributed broadly to upholding top line performance, amidst declining interest rates and consequent pressure posed on spreads.\u201d<\/p>\n<p><strong>Credit quality looks good<\/strong>, with loan loss provisions slashed by more than 40% from last year, as the economic uncertainties caused by the pandemic dissipated, the bank said. The bank had set aside EGP 702 mn to cover potential losses, down from EGP 1.24 bn in 1Q2020 as concerns over client creditworthiness and the economic environment abated. CIB\u2019s gross loan portfolio grew 2% y-o-y to EGP 138 bn, driven by local-currency loans, while the percentage of non-performing loans on its balance sheet rose to 4.4% from 4% in 1Q2020.<\/p>\n<p><strong>Looking ahead:<\/strong> \u201cManagement remains positive that CIB will continue to sustain its profitability and solvency against current and potential macroeconomic variations amid the global pandemic, drawing largely on its resilient coverage and strong balance sheet fundamentals,\u201d the bank said in a <a href=\"https:\/\/ent.news\/2021\/5\/1Q21-Press-Release-2.pdf\">press release (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562394\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"562394\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/562394\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562394\" class=\"content-area-description single-story post-562394 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate2-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562395\" 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=\"562395\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/\">\r\n                            Last Night\u2019s Talk Shows: Diplomacy, black fungus, and manufacturing our first EV                        <\/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\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/\" 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\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/')\">\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\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/\">\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: Diplomacy, black fungus, and manufacturing our first EV&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/\">\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\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/&title=Last Night\u2019s Talk Shows: Diplomacy, black fungus, and manufacturing our first EV\">\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+Diplomacy%2C+black+fungus%2C+and+manufacturing+our+first+EV+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Flast-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev%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\/23\/last-nights-talk-shows-diplomacy-black-fungus-and-manufacturing-our-first-ev\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562395\" class=\"content-area-description single-story post-562395 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-diplomacy tag-enterpriseam tag-hamas tag-israel tag-last-nights-talk-shows tag-palestine tag-sheikh-jarrah wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Egypt-brokered ceasefire between Israel and Hamas was in the limelight on last <\/strong><strong>night\u2019s talk shows.<\/strong> Egyptian Center for Strategic Studies Deputy Director Maj. Gen. Mohamed Ibrahim El Dewery explained to Kelma Akhira\u2019s Lamees El Hadidi how Egypt mediated the ceasefire, noting that Cairo\u2019s involvement in the issue began with Israel\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba540bd1-0b36-412c-9347-7f8f30042707\">ethnic cleansing campaign<\/a> in East Jerusalem\u2019s Sheikh Jarrah before Israel and Hamas began exchanging fire (<a href=\"https:\/\/www.youtube.com\/watch?v=L_Zis2KUIP4\">watch, runtime: 13:41<\/a>). Ala Mas\u2019ouleety\u2019s Ahmed Moussa also recapped the incidents and said that Egypt\u2019s success has received global praise (<a href=\"https:\/\/www.youtube.com\/watch?v=MEfLySoysnE\">watch, runtime: 2:07<\/a>).<\/p>\n<p><strong>What now?<\/strong> Palestine needs to move towards holding legislative elections as soon as possible to set up a strong, united front moving forward, particularly as Israeli airstrikes in Gaza resulted in an \u201cunprecedented\u201d sense of unity among Palestinians, Palestinian politician and activist Mostafa Barghouti said (<a href=\"https:\/\/www.youtube.com\/watch?v=o0pLKqg3C5A\">watch, runtime: 10:29<\/a>). The ceasefire is a \u201cgolden opportunity\u201d for Egypt to leverage its diplomatic momentum to find a permanent solution to the Palestinian crisis, after proving its chops at managing a short-term crisis, Lamees said (<a href=\"https:\/\/www.youtube.com\/watch?v=uhxpPxMSQXg\">watch, runtime: 3:17<\/a>).<\/p>\n<p><strong>Egypt\u2019s humanitarian aid also got coverage<\/strong> from Al Hayah Al Youm\u2019s Mohamed Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=7BdYkV2B5vo\">watch, runtime: 5:05<\/a>).<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Health Ministry spokesperson Khaled Megahed tried to explain how black fungus <\/strong><strong>\u2014 a type of fungal infection \u2014 differs from covid-19.<\/strong> The infection is not caused by covid-19, but is more likely to be lethal for individuals recovering from covid-19 and others with weak immune systems, Megahed said. (Ahmed Moussa on Ala Mas\u2019ouleety | <a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/544661530033462\">watch, runtime: 20:54<\/a>)<\/li>\n<li>Public Enterprises Minister Hisham Tawfik recapped <strong>Egypt\u2019s planned production of <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ebc60e-2d0f-40a7-a82e-41296a02f798\">El<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ebc60e-2d0f-40a7-a82e-41296a02f798\">Nasr-Dongfeng\u2019s electric vehicles<\/a><\/strong>, the first 100 of which will be ready to hit the road by 2022. (Amr Adib on El Hekaya | <a href=\"https:\/\/www.youtube.com\/watch?v=fz3S4uxOSx8\">watch, runtime: 12:15<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hamas\/\">Hamas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sheikh-jarrah\/\">Sheikh Jarrah<\/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=\"562396\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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data-block-id=\"m8rfmrv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-m8rfmrv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-m8rfmrv-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 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=\"562397\" 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=\"562397\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-in-the-news-on-23-may-2021\/\">\r\n                            Egypt in the News on 23 May 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-in-the-news-on-23-may-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-in-the-news-on-23-may-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-in-the-news-on-23-may-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 23 May 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-in-the-news-on-23-may-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egypt-in-the-news-on-23-may-2021\/&title=Egypt in the News on 23 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+23+May+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fegypt-in-the-news-on-23-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\/23\/egypt-in-the-news-on-23-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562397\" class=\"content-area-description single-story post-562397 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-grand-egyptian-museum tag-tourism tag-travel wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a pleasantly quiet morning for Egypt in the foreign press<\/strong>, after a weekend that was dominated by coverage of Egypt\u2019s central role in brokering a ceasefire between Israel and Hamas. Elsewhere, the <a href=\"https:\/\/www.ft.com\/content\/d4193c60-ecfa-4515-be7d-50e3eb9597f2\">Financial Times<\/a>\u2019 How to Spend It series features Italian fashion designer Gioia Bini, who says she wants to visit Egypt again, while Dame Minouche Shafik tells <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-22\/three-top-economists-plan-travel-to-lisbon-egypt-and-florida?sref=mmeFTDW1\">Bloomberg<\/a> she will be in Egypt soon for a family wedding. And the Grand Egyptian Museum\u2019s potential to inspire archaeological tourism is getting more digital ink, this time in international travel publication <a href=\"https:\/\/globetrender.com\/2021\/05\/20\/grand-egyptian-museum-cairo-achaeological-tourism\/\">Globe Trender<\/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\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562398\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562399\" 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=\"562399\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/\">\r\n                            Egyptian Iron + Steel mining spinoff inches closer to listing                        <\/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\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/\" 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\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/')\">\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\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egyptian Iron + Steel mining spinoff inches closer to listing&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/\">\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\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/&title=Egyptian Iron + Steel mining spinoff inches closer to listing\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egyptian+Iron+%2B+Steel+mining+spinoff+inches+closer+to+listing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fegyptian-iron-steel-mining-spinoff-inches-closer-to-listing%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\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562399\" class=\"content-area-description single-story post-562399 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-egx tag-egyptian-iron-and-steel tag-enterpriseam tag-financial-regulatory-authority tag-hala-zayed tag-health-minister tag-health-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The listing of Egyptian Iron and <\/strong><strong>Steel\u2019s mining<\/strong><strong> spinoff edged closer last week<\/strong> after the Financial Regulatory Authority (FRA) gave the all-clear for the company\u2019s registration and trading on the EGX, the regulator said in <a href=\"https:\/\/ent.news\/2021\/5\/FRA-Egyptian-Iron-and-Steel.pdf\">a bourse filing (pdf)<\/a>. The EGX is yet to announce a date for when the new company\u2019s shares will be listed. Egyptian Iron and Steel is being liquidated in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\">a two-year process<\/a> that includes spinning off its mining operations into Iron and Steel for Mines and Quarries.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-iron-and-steel\/\">Egyptian Iron and Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/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\/health-ministry\/\">Health 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=\"562400\" 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=\"562400\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/crypto-markets-wild-gyrations-hit-other-asset-classes\/\">\r\n                            Crypto markets\u2019 wild gyrations hit other asset classes                        <\/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\/23\/crypto-markets-wild-gyrations-hit-other-asset-classes\/\" 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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As BTC crashed 30% on Wednesday, government bonds and the safe-haven JPY gained, while S&amp;P 500 futures and oil slipped.<\/p><p><strong>This has left some analysts scratching their heads:<\/strong> \u201cThe catalyst for these moves appears to have been a sudden rout in BTC,\u201d Rabobank analysts <a href=\"https:\/\/www.ft.com\/content\/929828cd-51d2-4ae0-b838-47647736c13c\">wrote in a note<\/a>, while adding an important caveat that it \u201cseems hard to conceive of how there can be a direct link between BTC\u2019s gyrations and movements on the part of the global financial market.\u201d<\/p><p><strong>For others, it was very simple:<\/strong> \u201cFor people to say BTC shouldn\u2019t influence equity prices on a short-term basis, that\u2019s crazy,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-20\/asia-stocks-to-track-u-s-rise-on-economic-outlook-markets-wrap?sref=mmeFTDW1\">Bloomberg<\/a> quoted a former Merrill Lynch trader as saying. \u201c<strong>We live in a 24\/7 market and at least in the short term, it\u2019s run by algorithms and they all trade the same stuff<\/strong>. When you get a negative headline you\u2019re going to see it all sell.\u201d<\/p><p><strong>BTC had another rough day on Friday<\/strong>, after Chinese regulators reiterated their intention to regulate the mining and trading of cryptocurrencies. The price of BTC fell more than 8.5% during the day, leaving it down more than 40% from its peak, according to <a href=\"https:\/\/www.cnbc.com\/2021\/05\/21\/bitcoin-falls-after-china-calls-for-crackdown-on-bitcoin-mining-and-trading-behavior.html\">CNBC<\/a>. The currency has plummeted 37% since 9 May on comments made by Elon Musk and Beijing\u2019s threat of a crackdown.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,732<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -1.04%)<\/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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>10,340<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +19.0%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,518<\/p>\n<\/td>\n<td>\n<p>- (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>2,751<\/p>\n<\/td>\n<td>\n<p>+1.5% (YTD: +10.4%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,156<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,018<\/p>\n<\/td>\n<td>\n<p>- (YTD: +8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 66.44<\/p>\n<\/td>\n<td>\n<p>+2.0%<\/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 2.91<\/p>\n<\/td>\n<td>\n<p>-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,878.90<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,048.25<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.69% on Thursday<\/strong> on turnover of EGP 1.56 bn (19.5% above the 90-day average). Foreign investors were net sellers. The index is down 1.04% YTD.<\/p><p><strong>In the green: <\/strong>EFG (+2.1%), Cr\u00e9dit Agricole (+1.3%) and Emaar Misr (+1.3%).<\/p><p><strong>In the red: <\/strong>Elsewedy Electric (-4.2%), MM Group (-3.1%) and Fawry (-2.8%).<\/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\/boeing\/\">Boeing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nasdaq\/\">Nasdaq<\/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\/sp\/\">S&amp;P<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wall-street\/\">Wall Street<\/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=\"562401\" 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=\"562401\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/\">\r\n                            Chevron resumes operations at Tamar + Egypt joins UAE, Sudan for military drills                        <\/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\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/\" 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\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/')\">\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\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/\">\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=Chevron resumes operations at Tamar + Egypt joins UAE, Sudan for military drills&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/\">\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\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/&title=Chevron resumes operations at Tamar + Egypt joins UAE, Sudan for military drills\">\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=Chevron+resumes+operations+at+Tamar+%2B+Egypt+joins+UAE%2C+Sudan+for+military+drills+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Fchevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills%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\/23\/chevron-resumes-operations-at-tamar-egypt-joins-uae-sudan-for-military-drills\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562401\" class=\"content-area-description single-story post-562401 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-chevron tag-enterpriseam tag-ethiopia tag-gerd tag-national-security tag-sudan tag-tamar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Chevron will restart operations at its Tamar natural gas <\/strong><strong>field<\/strong><strong> in Israel<\/strong>, which supplies natgas to Egypt, after halting operations for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a34bfdba-bcad-474d-ac29-0424191c4114\">over a week<\/a>, due to the ongoing conflict, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/chevron-says-israel-instructs-it-restart-tamar-gas-field-2021-05-21\/\">Reuters<\/a> reports.<\/p>\n<p><strong>IN DIPLOMACY- Egypt and Cyprus\u2019 common interests in the Eastern Mediterranean and <\/strong><strong>their cooperation with Greece<\/strong> were on the agenda for President Abdel Fattah El Sisi and Cypriot Foreign Minister Nikos Christodoulides during a meeting in Cairo yesterday, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1157816078071104\">Ittihadiya statement<\/a>.<\/p>\n<p><strong>Cairo + Khartoum flex their military muscles amid GERD tensions:<\/strong> Egypt\u2019s Armed Forces are in Sudan for a joint drill, dubbed \u201cGuardians of the Nile,\u201d to be held from 26 to 31 May, <a href=\"https:\/\/www.suna-sd.net\/read?id=712797\">SUNA<\/a>reports. The exercises come against the backdrop of the ongoing impasse in negotiations over the filling and operation of the Grand Ethiopian Renaissance Dam. Egypt previously beefed up its military ties with upstream countries including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/996b5566-c5ba-4bef-82a9-7ba8ff0c6163\">Uganda and Burundi<\/a>. <a href=\"https:\/\/apnews.com\/article\/ethiopia-sudan-africa-middle-east-egypt-41c42e2e5a13ac30f2e622076fac2630\">The Associated Press<\/a> took note of the story.<\/p>\n<p><strong>Egypt separately kicked off another two-week joint military exercise with the UAE <\/strong>on Friday dubbed \u201cZayed 3,\u201d the Egyptian Armed Forces said in a <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/2342016232596012\">statement<\/a>. Both sides will exchange military training expertise as well as develop joint combat skills.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chevron\/\">Chevron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tamar\/\">Tamar<\/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=\"562402\" 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=\"562402\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/\">\r\n                            Fatouta and Bahgat Group\u2019s founder are laid to rest                        <\/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\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/\" 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\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/')\">\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\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/\">\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=Fatouta and Bahgat Group\u2019s founder are laid to rest&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/\">\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\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/&title=Fatouta and Bahgat Group\u2019s founder are laid to rest\">\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=Fatouta+and+Bahgat+Group%E2%80%99s+founder+are+laid+to+rest+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F23%2Ffatouta-and-bahgat-groups-founder-are-laid-to-rest%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\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/194.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562403\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/fatouta-and-bahgat-groups-founder-are-laid-to-rest\/194-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/194.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"194.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/194.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/194.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562402\" class=\"content-area-description single-story post-562402 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-bahgat-group tag-culture tag-dreamland tag-enterpriseam tag-film tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Famed Egyptian actor and comedian Samir Ghanem passed away on Thursday, <\/strong><strong>aged 84,<\/strong> following complications linked to covid-19, <a href=\"https:\/\/bit.ly\/3ukwIyt\">the local press<\/a> reported on Thursday. He had been in hospital care since last week and was laid to rest on <a href=\"https:\/\/arabic.cnn.com\/middle-east\/article\/2021\/05\/21\/samir-ghanim-funeral\">Friday<\/a>. From his famous character \u201cFatouta\u201d to being member of the stand-up comedy trio Tholathy Adwa'a El Masrah (Trio of Stage Lights) alongside George Sidhom and El Deif Ahmed, Ghanem enjoyed a prodigious career. Spanning six decades, he took part in more than 250 cinema, TV, stage and radio productions. His last public appearance was in Ramadan, when he starred in an ad for local mobile network operator We (<a href=\"https:\/\/www.youtube.com\/watch?v=QqnR5F8rN3U\">watch, runtime: 1:23<\/a>). Ghanem's wife, Dalal Abdel Aziz, is <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5498001\">reportedly<\/a> also in critical condition due to the virus.<\/p>\n<p><strong>Egyptian businessman Ahmed Bahgat passed away on Friday <\/strong><strong>at the age of 70<\/strong> due to kidney failure, <a href=\"https:\/\/bit.ly\/347PLBq\">Masrawy<\/a> reports. Bahgat rose to prominence in the late 1990s and early 2000s, building Dreamland (one of Egypt\u2019s first gated communities in Sixth of October) and Dreampark (which was at the time the Middle East\u2019s largest amusement park). He also founded Egypt\u2019s first private satellite TV station, Dream TV, in 2001 building it out into a constellation of entertainment properties.<\/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\/bahgat-group\/\">Bahgat Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dreamland\/\">Dreamland<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562404\" 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\/23\/your-essential-business-calendar-on-23-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562404\" class=\"content-area-description single-story post-562404 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>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 <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_eMso6QtLT0uueSLlsQgxbw\">virtual healthcare<\/a> <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_KhbNhseCRy-eq-rDEEz8sg\">week<\/a>.<\/p>\n<p>26 May (Wednesday): Final day for Africa-based startups to apply for the French government-sponsored <a href=\"https:\/\/ent.news\/2021\/5\/LAUNCH-OF-THE-FIFTH-EDITION-OF-THE-AFD-DIGITAL-CHALLENGE.docx.pdf\">AFD Digital Challenge (pdf)<\/a>.<\/p>\n<p>27-29 May (Thursday-Saturday): Informa Markets\u2019 <a href=\"https:\/\/www.nextmoveegypt.com\/en\/Forms\/Book-A-Stand.html\">Nextmove<\/a> real estate exhibition, Cairo International Convention Center, Nasr City.<\/p>\n<p>30 May (Sunday): Al Mal GTM is organizing the <a href=\"https:\/\/bit.ly\/3h8CpfX\">Portfolio Egypt<\/a> conference under the theme \u2018Growth under the weight of the pandemic.\u2019<\/p>\n<p>31 May (Monday): Egypt is hosting Trescon Global\u2019s <a href=\"https:\/\/www.tresconglobal.com\/conferences\/ai\/egypt\/\">World AI Show<\/a> with the support of ITIDA.<\/p>\n<p>7 June (Monday): British Egyptian Business Association <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_MVUuhotDTyOEplB7iVpuNw\">hosts event<\/a> featuring Oil Minister Tarek El Molla.<\/p>\n<p>14 June (Monday): The third edition of Egypt's Green Economy Forum.<\/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":562377,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562376","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"982cdefc-1dc9-4fb2-8d49-9f487e3d6058","teaser":"","photo_url":"https:\/\/ent.news\/2021\/5\/181.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>CBE to issue digital banking regs as early as July - 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\/cbe-to-issue-digital-banking-regs-as-early-as-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE to issue digital banking regs as early as July\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-to-issue-digital-banking-regs-as-early-as-july\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:41:24+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\/181.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\/cbe-to-issue-digital-banking-regs-as-early-as-july\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-to-issue-digital-banking-regs-as-early-as-july\/\",\"name\":\"CBE to issue digital banking regs as early as July - 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