{"id":562415,"date":"2021-05-24T03:36:19","date_gmt":"2021-05-24T03:36:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562415"},"modified":"2025-12-16T03:42:15","modified_gmt":"2025-12-16T03:42:15","slug":"budget-debate-fras-role-in-regulating-fintech-take-center-stage-in-the-house","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/budget-debate-fras-role-in-regulating-fintech-take-center-stage-in-the-house\/","title":{"rendered":"Budget debate, FRA\u2019s role in regulating fintech take center stage in the House"},"content":{"rendered":"<section id=\"562417\" 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=\"562417\">\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\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/\">\r\n                            THIS MORNING: Budget debate at home, potential sell-off in global markets dominate a slow news day                        <\/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\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/\" 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\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/')\">\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\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/\">\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: Budget debate at home, potential sell-off in global markets dominate a slow news day&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/\">\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\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/&title=THIS MORNING: Budget debate at home, potential sell-off in global markets dominate a slow news day\">\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+Budget+debate+at+home%2C+potential+sell-off+in+global+markets+dominate+a+slow+news+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fthis-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day%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\/24\/this-morning-budget-debate-at-home-potential-sell-off-in-global-markets-dominate-a-slow-news-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562417\" class=\"content-area-description single-story post-562417 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-cyprus tag-enterpriseam tag-france tag-gaza tag-greece tag-hamas tag-israel tag-mahmoud-abbas tag-palestine tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<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, friends. Longtime readers know that Mondays are often slow news <\/strong><strong>days<\/strong> \u2014 and today is slower than our grandma\u2019s joints move on a cold winter morning.<\/p><p><strong>There\u2019s no big story dominating the news cycle here at home or abroad. <\/strong>That may change today as the House of Representatives gets serious about about the 2021-2022 budget (we have more below), while abroad you have your choice of stories about the unusual <a href=\"https:\/\/www.nytimes.com\/2021\/05\/23\/world\/europe\/ryanair-belarus.html\">arrest of an opposition journalist flying<\/a> through Belarusian airspace, the debate over <a href=\"https:\/\/www.ft.com\/content\/b035ef5f-dc2a-44d5-bded-b6573347939a\">whether the world will ever hit herd immunity<\/a>, and the idea that <a href=\"https:\/\/www.wsj.com\/articles\/for-startup-leaders-spacs-have-lost-their-allure-11621774800?mod=hp_lead_pos2\">SPACs are losing their (very brief) allure<\/a>.<\/p><p><strong>Lab leak hypothesis is back. <\/strong>Oh, and as we report in Covid Watch, below, we\u2019re all going to be back to arguing over whether covid escaped from a lab in Wuhan.<\/p><p><strong>THE BIG QUESTION THIS WEEK: Are we going to see a sell-off in global markets? <\/strong>Stocks in Shanghai, Hong Kong and Seoul are down this morning. Meanwhile, futures are mixed on how Wall Street will open, the outlook is sunny for markets in much of Europe, and BTC is sliding again. <strong>Speculation is rife that \u201c<\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/elon-musk-has-become-bitcoins-biggest-influencer-like-it-or-not-11621762202?mod=hp_lead_pos1\">stocks could be volatile in week ahead<\/a><\/strong><strong> amid turbulence from cryptocurrency,\u201d<\/strong> where some <a href=\"https:\/\/www.wsj.com\/articles\/elon-musk-has-become-bitcoins-biggest-influencer-like-it-or-not-11621762202?mod=hp_lead_pos1\">investors are now turning on cryptohead Elon Musk<\/a>, resenting the fact that he has become what the WSJ calls \u201ccrypto\u2019s biggest influencer.\u201d <a href=\"https:\/\/www.cnbc.com\/2021\/05\/23\/bitcoin-resumes-selloff-over-weekend-briefly-falls-below-33000.html\">BTC has resumed its selloff<\/a> and Nobel prize economist \u201c<strong>Robert Shiller is worried a bubble is forming in some of the market\u2019s hottest trades<\/strong>,\u201d including US shares, crypto and housing, where he sees <a href=\"https:\/\/www.cnbc.com\/2021\/05\/23\/robert-shiller-sees-wild-west-in-housing-stock-and-crypto-markets.html\">a \u201cwild west mentality\u201d<\/a> among many investors.<\/p><p><strong>Either way: Expect crypto volatility to stick around for a while and continue spreading <\/strong><strong>to other<\/strong> <strong>asset classes through \u201cinformal contagion channels,\u201d<\/strong> markets sage Mohamed El Erian writes for <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-05-23\/what-does-bitcoin-volatility-mean-for-other-assets?sref=mmeFTDW1\">Bloomberg Opinion<\/a>. While crypto and traditional asset classes typically \u201clive in their own ecosystems,\u201d there is a growing contagion risk, particularly with skimpy yields on US government bonds that has led investors into crypto as a way to diversify their portfolios. These cross-holdings increase the risk of contagion, \u201cespecially when trades are levered, as quite a few are now, and the operational infrastructure supporting crypto trading comes under pressure, as it did last week,\u201d El Erian says.<\/p><p><strong>***CATCH UP QUICK<\/strong> on the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Former CI Capital bosses Hazem Badran and Tarek Tantawi are setting up a new PE firm<\/strong>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b022bded-faf3-4f2e-a05b-fdea2f421cba\">Valor Capital Partners<\/a>, with an initial focus on investing in the consumer goods, education, health and real estate sectors.<\/li>\n<li>There will be <strong>no more subsidies to cover upgrades to the state\u2019s water companies <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/107de5fd-3c3c-48cf-809d-30bae0dfa53b\">starting FY2021-2022<\/a>.<\/li>\n<li><strong>Flat6Labs <\/strong>has completed<strong> the second close of <\/strong>its Egypt-focused<strong> Flat6Labs Accelerator Company<\/strong>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/751a7c00-adab-4069-bbdf-9fae286ea9ef\">quadrupling the fund\u2019s size<\/a> to over EGP 200 mn.<\/li>\n<\/ul><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>Foreign Minister Sameh Shoukry is in Amman today to discuss cooperating on a <\/strong><strong>strategy for long-term stability and peace in Palestine<\/strong> with his Jordanian counterpart Ayman El Safadi, according to a <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/5658927830845783\">Foreign Ministry statement<\/a>. Shoukry landed in Jordan yesterday ahead of US Secretary of State Antony Blinken\u2019s planned trip to Egypt, Jordan, Israel, and Palestine <a href=\"https:\/\/www.reuters.com\/article\/idUSKCN2D306Z\">later this week<\/a>.<\/p><p><strong>An Egyptian delegation arrived in Gaza yesterday to reinforce a ceasefire between <\/strong><strong>Hamas and Israel <\/strong>that went into effect early Friday, a Hamas source told German news agency DPA, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=23052021&amp;id=ae550125-392e-4f78-b402-e352f5bc1f59\">Al Shorouk<\/a> reports. The delegation will discuss with Hamas the group\u2019s conditions for a continued ceasefire, which include Israel halting aggression at the Al Aqsa mosque complex, suspending its efforts to displace the residents of Sheikh Jarrah, and allowing essential aid into the besieged strip. The delegation will also lay out reconstruction plans for Gaza. This is the Egyptian delegation\u2019s second visit to the territory in two days, following a <a href=\"https:\/\/english.wafa.ps\/Pages\/Details\/124687\">meeting<\/a> with Palestinian President Mahmoud Abbas on Saturday. Egypt had played a central role in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8a32c2f-201f-44ba-a719-8ee9b42efd75\">brokering the ceasefire agreement<\/a>, a move that is expected to bolster its diplomatic credentials and thaw US-Egypt relations.<\/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>Foreign Minister <\/strong><strong>Sameh Shoukry is due to hold meetings in Athens next month with <\/strong><strong>counterparts from Greece, Cyprus, and France<\/strong>, Cypriot Foreign Minister Nikos Christodoulides said in a <a href=\"https:\/\/mfa.gov.cy\/el\/press-releases\/2021\/05\/22\/fm-christodoulides-statement-cairo\/\">statement<\/a> picked up by <a href=\"https:\/\/cyprus-mail.com\/2021\/05\/23\/cabinets-of-cyprus-egypt-to-jointly-convene-soon-foreign-minister-says\/\">Cyprus Mail<\/a>. The announcement followed discussions between President Abdel Fattah El Sisi and Christodoulides on Egypt-Cyprus trade, investment, defense, and education ties, as well as extending the tripartite cooperation with Greece to include France. <strong>The EU could be looking to participate in the <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/15\/egypts-position-as-regional-gas-export-hub-for-east-med-gets-us-support\/\">East Mediterranean Gas Forum<\/a><\/strong> and will send in a request soon, Christodoulides suggested. The Palestine-Israel conflict was also a topic of discussion, with Christodoulides lauding Egypt\u2019s mediation efforts, according to an Ittihadiya <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/1157816078071104\">statement<\/a>.<\/p><p><strong>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. <sup><\/sup><\/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><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday.<\/p><p><strong>In today\u2019s issue:<\/strong> Education is generally counted as a highly <a href=\"https:\/\/singularityhub.com\/2017\/08\/13\/why-education-is-the-hardest-sector-of-the-economy-to-automate\/\">automation-resistant<\/a> sector. But for Egypt\u2019s international schools, automation is becoming essential in managing core processes like admissions, registration, and admin reminders \u2014 and increasingly important for some forms of communication and data analysis. We look at the automation software these schools are using, and how it\u2019s making educational processes more efficient.<\/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\/cyprus\/\">Cyprus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/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\/mahmoud-abbas\/\">Mahmoud Abbas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562418\" 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=\"562418\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/562418\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562418\" class=\"content-area-description single-story post-562418 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=\"562419\" 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=\"562419\">\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\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/house-pushes-ahead-with-budget-debate\/\">\r\n                            House pushes ahead with budget debate                        <\/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\/24\/house-pushes-ahead-with-budget-debate\/\" 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\/24\/house-pushes-ahead-with-budget-debate\/')\">\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\/24\/house-pushes-ahead-with-budget-debate\/\">\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=House pushes ahead with budget debate&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/house-pushes-ahead-with-budget-debate\/\">\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\/24\/house-pushes-ahead-with-budget-debate\/&title=House pushes ahead with budget debate\">\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=House+pushes+ahead+with+budget+debate+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fhouse-pushes-ahead-with-budget-debate%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\/24\/house-pushes-ahead-with-budget-debate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/203.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562420\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/house-pushes-ahead-with-budget-debate\/203-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/203.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"203.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/203.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/203.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562419\" class=\"content-area-description single-story post-562419 post type-post status-publish format-standard has-post-thumbnail hentry category-budget-watch tag-budget-watch tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-state-budget wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The House of Representatives will be discussing the spending plan for individual <\/strong><strong>institutions in the FY2021-2022 state budget throughout this week,<\/strong> according to the House agenda. The Endowments Ministry and Egyptian Competition Authority\u2019s allocations are on MPs\u2019 docket for tomorrow, kicking off the week of budget discussions. At the committee level, the House Agriculture Committee approved yesterday the budgets for institutions under the umbrella of the Agriculture and Land Reclamation Ministry, <a href=\"https:\/\/bit.ly\/2Sn7Zff\">Al Mal<\/a> reports.<\/p>\n<p><strong>Next up:<\/strong> At the time of writing, parliament\u2019s schedule showed our representatives meeting Thursday to discuss the budgets for the General Authority for Healthcare; the Universal Healthcare Ins. Authority; the Health Ins. Organization; and the General Authority for Healthcare, Accreditation, and Regulation.<\/p>\n<p><strong>What\u2019s the deadline for a new budget? <\/strong>The House needs to approve the full draft state budget before the start of the fiscal year on 1 July; if it fails to do so, government will keep operating under this year\u2019s budget until a new one is passed \u2014 <strong>we don\u2019t do US-style \u201cgovernment shutdowns.\u201d<\/strong><\/p>\n<p><strong>Need a refresher?<\/strong> The Finance Ministry published the draft budget for the upcoming fiscal year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">last month<\/a>. Among the highlights: GDP growth is expected to come in at 5.4%, while our financing gap will widen 7.1% y-o-y to EGP 1.06 tn, our budget deficit is expected to narrow to 6.7% of GDP from an expected 7.7% in the current fiscal year, and a 22% growth in revenues will outpace a 14% rise in government spending.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/state-budget\/\">state budget<\/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=\"562421\" 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=\"562421\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/net-foreign-assets-at-banks-dip-in-march\/\">\r\n                            Net foreign assets at banks dip in March                        <\/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\/24\/net-foreign-assets-at-banks-dip-in-march\/\" 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\/24\/net-foreign-assets-at-banks-dip-in-march\/')\">\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\/24\/net-foreign-assets-at-banks-dip-in-march\/\">\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=Net foreign assets at banks dip in March&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/net-foreign-assets-at-banks-dip-in-march\/\">\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\/24\/net-foreign-assets-at-banks-dip-in-march\/&title=Net foreign assets at banks dip in March\">\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=Net+foreign+assets+at+banks+dip+in+March+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fnet-foreign-assets-at-banks-dip-in-march%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\/24\/net-foreign-assets-at-banks-dip-in-march\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/204.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562422\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/net-foreign-assets-at-banks-dip-in-march\/204-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/204.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"204.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/204.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/204.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562421\" class=\"content-area-description single-story post-562421 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-banking tag-central-bank-of-egypt tag-economy tag-enterpriseam 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>Net foreign assets (NFAs) in <\/strong><strong>Egypt\u2019s banking sector dipped 13.7% m-o-m in <\/strong><strong>March<\/strong><strong> to reach USD 17.70 bn<\/strong>, from a record high of USD 20.50 bn in February, according to Central Bank of Egypt data<sup><\/sup>. The banking sector\u2019s NFAs nosedived 45% m-o-m in March 2020 when the beginning of the pandemic prompted investors to pull a record USD 83 bn from EMs that month alone. Net foreign liabilities at commercial banks inched up 3.2% m-o-m in March to USD 20.05 bn, from USD 19.43 bn at the end of February.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562423\" 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=\"562423\">\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\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/how-low-can-we-go\/\">\r\n                            How low can we go?                        <\/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\/24\/how-low-can-we-go\/\" 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\/24\/how-low-can-we-go\/')\">\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\/24\/how-low-can-we-go\/\">\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=How low can we go?&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/how-low-can-we-go\/\">\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\/24\/how-low-can-we-go\/&title=How low can we go?\">\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=How+low+can+we+go%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fhow-low-can-we-go%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\/24\/how-low-can-we-go\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/205.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562424\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/how-low-can-we-go\/205-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/205.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"205.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/205.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/205.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562423\" class=\"content-area-description single-story post-562423 post type-post status-publish format-standard has-post-thumbnail hentry category-suez-canal tag-enterpriseam tag-ever-given tag-osama-rabie tag-shoei-kisen tag-suez-canal tag-suez-canal-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>SCA cuts its Ever Given compensation demand \u2014 again:<\/strong> The Suez Canal Authority (SCA) has again downgraded its compensation demands for the Ever Given\u2019s blockage of the Suez Canal, saying it\u2019s now looking for USD 550 mn, SCA boss Osama Rabie told Al Hayah Al Youm\u2019s Mohamed Sherdy yesterday (<a href=\"https:\/\/www.facebook.com\/watch\/?v=534679734365837\">watch, runtime: 7:55<\/a>). The SCA had initially set its compensation request at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eb957c5-fd2a-457b-8f63-a3f5d2e7093e\">USD 916 mn<\/a>, but Rabie says this was a \u201cpreliminary\u201d figure before the authority accurately crunched the numbers and determined the value of the cargo that is on board the mega vessel. The SCA decided has slashed its demand so that it doesn\u2019t exceed the value of the cargo on board as a gesture of goodwill, Rabie told El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.facebook.com\/watch\/?v=975309169909094\">watch, runtime: 11:20<\/a>). Rabie had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0dc2f84f-28e5-43cb-941d-5a9ea8d8bcd6\">told Adib earlier this month<\/a> that the SCA had revised its claim to USD 600 mn.<\/p>\n<p><strong>An initial USD 200 mn down payment could see the SCA release the ship from the Great Bitter Lake<\/strong>, where it is currently being held, if the ship\u2019s owner gets an LG from an Egyptian bank for the rest of the amount, Rabie told Adib.<\/p>\n<p><strong>The counter offer:<\/strong> Shoei Kisen, the ship\u2019s owner, has offered to pay USD 150 mn instead of USD 550 mn, Rabie told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=QmMr-CQwT5Q\">watch, runtime: 15:33<\/a>).<\/p>\n<p><strong>What is the SCA asking compensation for?<\/strong> The compensation package includes the cost of repairing the canal\u2019s bank where the mega vessel was lodged and had to be dug out, as well as for dredgers that the SCA put to work around the clock and are now out of commission because of the Ever Given saga. The SCA is also asking Shoei Kisen to compensate the authority for a tugboat that sank during the operation, which resulted in the death of a member of the team working on digging out the Ever Given, according to <a href=\"https:\/\/www.facebook.com\/SuezCanalAuthorityEG\/posts\/452608716380165?__cft__[0]=AZXFmsCvym2qdnt3jCsmPPCeYVRvq4vtvlYWErurjYQNeGMqg4wWDIW-5RLh10RZhxWKJu9WxxYXY4My3anlyzoJMOZ3xBbcYMPXRhL74acT6rB71ZibIAuquu9PcKdsSIGHoEO9O_Fyvg45HwP87E3u&__tn__=%2CO%2CP-R\">a statement<\/a>. In addition to covering compensation for the canal\u2019s workers, divers, command center operators, and other employees for working overtime to resolve the blockage, the price tag also covers the canal\u2019s lost revenues during the closure, estimated at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c873a51b-96d2-42c3-a3e6-b8bc9b83a7b6\">around USD 90 mn<\/a>.<\/p>\n<p><strong>Operation Pass the Buck continues:<\/strong> The Ever Given\u2019s grounding in the canal is the responsibility of the ship\u2019s captain and not of the two SCA pilots who were on board the vessel, Rabie insisted. The SCA boss also said that the choice of whether or not to enter the waterway was ultimately captain\u2019s to make, since the pilots only fulfill an advisory role. Shoei Kisen\u2019s lawyers argued at a court hearing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ed03395-bc76-4d2d-b6be-ea9d0bbbc85d\">over the weekend<\/a> 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.<\/p>\n<p><strong>The compensation claim is still making its way through the courts<\/strong>, with a hearing scheduled for 29 May, while the ship continues to be held in the Great Bitter Lake following the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56d7a9ca-b198-460a-be68-088297f955b6\">rejection of an appeal<\/a> by Shoei Kisen against its seizure.<\/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\/osama-rabie\/\">Osama Rabie<\/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=\"562425\" 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=\"562425\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/562425\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562425\" class=\"content-area-description single-story post-562425 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 by Egypt\u2019s 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=\"562426\" 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=\"562426\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/\">\r\n                            FRA\u2019s fintech bill gets preliminary house committee nod                        <\/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\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/\" 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\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/')\">\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\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/\">\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=FRA\u2019s fintech bill gets preliminary house committee nod&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/\">\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\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/&title=FRA\u2019s fintech bill gets preliminary house committee nod\">\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=FRA%E2%80%99s+fintech+bill+gets+preliminary+house+committee+nod+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Ffras-fintech-bill-gets-preliminary-house-committee-nod%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\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/206.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562427\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/fras-fintech-bill-gets-preliminary-house-committee-nod\/206-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/206.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"206.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/206.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/206.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562426\" class=\"content-area-description single-story post-562426 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-fintech tag-house-of-representatives tag-legislation-watch tag-minimum-wage 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>The House CIT Committee gave a preliminary nod yesterday to a draft law that would govern the fintech space<\/strong>, <a href=\"https:\/\/bit.ly\/3wkJ6Qi\">Masrawy<\/a> reports. The new law would regulate the use of fintech to deliver non-banking financial services (NBFS) in a bid to expand the sector\u2019s beneficiaries and promote financial inclusion by granting the Financial Regulatory Authority (FRA) the power to license and regulate NBFS businesses and fintech startups. Under the law, the FRA would have supervisory powers over the sector to ensure companies adhere to transparency and governance standards, in addition to protecting consumer rights. The FRA had drafted and approved the bill <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d59b8d8-cfa8-4d41-8c9e-af80e1620e1e\">last year<\/a>.<\/p>\n<p><strong>ALSO FROM UNDER PARLIAMENT\u2019S DOME-<\/strong> <strong>Parliament rubber stamps public sector salary hikes:<\/strong> The House of Representatives\u2019 general assembly gave its final approval yesterday to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f555e13-8674-4f7e-9513-4c025360a040\">a bill<\/a> raising basic salaries for public sector employees by 13% at the start of the next fiscal year on 1 July, according to <a href=\"https:\/\/bit.ly\/3oFbcTK\">Masrawy<\/a>. The decision applies equally to employees covered by the Civil Service Act and those employed outside it. The same decision also stipulates an EGP 75 minimum increase to the monthly gross salaries of civil servants whose employment is not covered by the act, who will receive annual raises at the start of the fiscal year. It also increases monthly bonuses for state officials by a minimum of EGP 175 and a maximum of EGP 400, depending on rank.<\/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\/fintech\/\">Fintech<\/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\/minimum-wage\/\">minimum wage<\/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=\"562428\" 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=\"562428\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/\">\r\n                            Last Night\u2019s Talk Shows: Ever Given compensation + more on GERD                        <\/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\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/\" 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\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/')\">\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\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/\">\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: Ever Given compensation + more on GERD&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/\">\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\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/&title=Last Night\u2019s Talk Shows: Ever Given compensation + more on GERD\">\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+Ever+Given+compensation+%2B+more+on+GERD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Flast-nights-talk-shows-ever-given-compensation-more-on-gerd%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\/24\/last-nights-talk-shows-ever-given-compensation-more-on-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562428\" class=\"content-area-description single-story post-562428 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-ever-given tag-last-nights-talk-shows tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The latest on the Suez Canal Authority\u2019s court battle with Ever Given owner Shoei Kisen<\/strong> led the conversation on the airwaves last night, as authority boss Osama Rabie phoned into several shows to recap and defend the authority\u2019s position in the lawsuit. We have chapter and verse in the news well, above.<\/p>\n<p><strong>Coming in second place, negotiations on the Grand Ethiopian Renaissance Dam\u2019s second filling<\/strong>: Irrigation Minister Mohamed Abdel Ati sat down with Kelma Akhira\u2019s Lamees El Hadidi to discuss the most recent updates and the extent to which Egypt\u2019s water supply could be affected.<\/p>\n<p><strong>There are no concrete updates on the stalled negotiations<\/strong>, even after US Special Envoy for the Horn of Africa Jeffrey Feltman and African Union Chairman and Congolese President Felix Tshisekedi each paid a visit to Egypt, Ethiopia, and Sudan to discuss the issue and listen to the countries\u2019 positions on the matter, Abdel Ati said. Egypt wants an agreement with Addis Ababa that would allow Ethiopia to continue building and filling the dam for its own needs, but would still provide Egypt and Sudan with the ability to ask Ethiopia to release some of the water in the dam\u2019s reserve if they were to face shortages (<a href=\"https:\/\/www.youtube.com\/watch?v=zqZRT6LbXx8\">watch, runtime: 4:26<\/a>).<\/p>\n<p><strong>If the second filling moves ahead as Ethiopia is currently planning, the average Egyptian isn\u2019t going to suddenly find themselves without running water<\/strong>, because authorities habitually hold water reserves to be able to offset naturally occurring water shortages, Abdel Ati explained. Nonetheless, the government really, really wants everyone to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fce194a5-ffbf-4650-ad57-e7c907952ce0\">be more conscious of their water consumption<\/a>. Making this reserve water available is also a difficult management operation, particularly when it comes to ensuring the water quality is up to par and that there are no periods of low water supply, the minister said (<a href=\"https:\/\/www.facebook.com\/watch\/?v=624570785609214\">watch, runtime: 5:40<\/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\/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\/suez-canal\/\">Suez Canal<\/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=\"562429\" 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=\"562429\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/562429\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562429\" class=\"content-area-description single-story post-562429 post type-post status-publish 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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 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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=\"562431\" 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=\"562431\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/egypt-in-the-news-on-24-may-2021\/\">\r\n                            Egypt in the news on 24 May 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/egypt-in-the-news-on-24-may-2021\/&title=Egypt in the news on 24 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+24+May+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fegypt-in-the-news-on-24-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\/24\/egypt-in-the-news-on-24-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562431\" class=\"content-area-description single-story post-562431 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>How quiet of a morning is it for Egypt in the foreign press?<\/strong> Quiet enough that the only story of note out there is Pennsylvania-based donut chain <a href=\"https:\/\/www.duckdonuts.com\/\">Duck Donuts<\/a>\u2019 plans to set up shop in Egypt through a franchise agreement with Masters Food. Under the agreement, we\u2019re going to see 25 locations of Duck Donuts across the country within five years, according to <a href=\"https:\/\/www.abc27.com\/news\/local\/mechanicsburgs-duck-donuts-to-open-in-egypt\/\">ABC News<\/a>. Reviews on <a href=\"https:\/\/www.tripadvisor.com\/Restaurant_Review-g49088-d1131791-Reviews-Duck_Donuts-Duck_Outer_Banks_North_Carolina.html\">TripAdvisor<\/a> and <a href=\"https:\/\/www.yelp.com\/biz\/duck-donuts-duck\">Yelp<\/a> give the donut shop a 4.5 \/ 5 rating.<\/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=\"562432\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562433\" 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=\"562433\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/egypt-is-going-to-start-manufacturing-high-precision-lathe-machines\/\">\r\n                            Egypt is going to start manufacturing high-precision lathe machines                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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            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+is+going+to+start+manufacturing+high-precision+lathe+machines+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fegypt-is-going-to-start-manufacturing-high-precision-lathe-machines%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\/24\/egypt-is-going-to-start-manufacturing-high-precision-lathe-machines\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562433\" class=\"content-area-description single-story post-562433 post type-post status-publish format-standard hentry category-also-on-our-radar tag-african-development-bank tag-also-on-our-radar tag-arab-organization-for-industrialization tag-enterpriseam tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A couple of things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>The Arab Organization for Industrialization<\/strong> <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/photos\/a.155486328304089\/1157866821399363\/?type=3&theater\">will work with<\/a> the German arm of <strong><a href=\"https:\/\/en.dmgmori.com\/\">DMG Mori<\/a><\/strong> to set up Egypt\u2019s first factory for high-precision lathe machines.<\/li>\n<li>Egypt will <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/1945473605609623\">receive<\/a><strong> EUR 145<\/strong> <strong>in financing<\/strong> from <strong>the African Development Bank<\/strong> for the purchase of a <strong><a href=\"https:\/\/www.thalesgroup.com\/en\/european-train-control-system-etcs\">European Train Control System<\/a><\/strong><strong> (ETCS)<\/strong> to improve railway safety on an almost 1k stretch of the network.<\/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\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-organization-for-industrialization\/\">Arab Organization for Industrialization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562434\" 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=\"562434\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/\">\r\n                            Another round of speculation that covid-19 originated in a Wuhan lab                        <\/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\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/\" 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\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/')\">\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\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/\">\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=Another round of speculation that covid-19 originated in a Wuhan lab&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/\">\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\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/&title=Another round of speculation that covid-19 originated in a Wuhan lab\">\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=Another+round+of+speculation+that+covid-19+originated+in+a+Wuhan+lab+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Fanother-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab%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\/24\/another-round-of-speculation-that-covid-19-originated-in-a-wuhan-lab\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562434\" class=\"content-area-description single-story post-562434 post type-post status-publish format-standard hentry category-covid-watch tag-china tag-covid-19 tag-enterpriseam 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> Egypt has so far identified two cases of mucormycosis \u2014 the <\/strong><strong>black fungus viral infectio<\/strong><strong>n <\/strong><strong><a href=\"https:\/\/www.bbc.com\/future\/article\/20210519-mucormycosis-the-black-fungus-hitting-indias-covid-patients\">spreading worldwide among covid patients<\/a><\/strong><strong> with weakened immune systems \u2014 <\/strong>but it is unconnected to covid-19 and is not cause for panic, head of the covid-19 task force Hossam Hosny told Al Hadath Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=IBK-X2jjUO8\">watch, runtime: 3:57<\/a>). Health Ministry spokesperson Khaled Megahed had also discussed the infection with Ala Mas\u2019ouleety\u2019s Ahmed Moussa <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6a87934-b6ca-4b41-9e65-ecd9b9ee72a8\">over the weekend<\/a>, as rumors began circulating that the infection is another pandemic in the making.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.122315979319023\/387742029443082\/\">reported<\/a><\/strong><strong>1,145 <\/strong><strong>new covid-19 infections yesterday<\/strong>, down from 1,151 the day before. Egypt has now disclosed a total of 253,835 confirmed cases of covid-19. The ministry also reported 51 new deaths, bringing the country\u2019s total death toll to 14,721.<\/p>\n<p><strong>Speculation that the virus causing covid-19 originated in China\u2019s Wuhan Institute<\/strong> <strong>of Virology is getting a second wind<\/strong> after a US intelligence report indicated that three researchers from the institute \u201cbecame sick enough in November 2019 that they sought hospital care,\u201d the <a href=\"https:\/\/www.wsj.com\/articles\/intelligence-on-sick-staff-at-wuhan-lab-fuels-debate-on-covid-19-origin-11621796228?mod=hp_lead_pos3\">Wall Street Journal<\/a> reports. That\u2019s around the time when epidemiologists and researchers believe the virus began spreading around the Chinese city. The report\u2019s findings don\u2019t conclusively indicate whether or not this data point means the virus originated in the lab.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562435\" 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=\"562435\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/\">\r\n                            Oil is having a bad week off of Iran\u2019s potential reentry to the market                        <\/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\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/\" 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\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/')\">\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\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/\">\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=Oil is having a bad week off of Iran\u2019s potential reentry to the market&url=https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/\">\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\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/&title=Oil is having a bad week off of Iran\u2019s potential reentry to the market\">\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=Oil+is+having+a+bad+week+off+of+Iran%E2%80%99s+potential+reentry+to+the+market+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F05%2F24%2Foil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market%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\/24\/oil-is-having-a-bad-week-off-of-irans-potential-reentry-to-the-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562435\" class=\"content-area-description single-story post-562435 post type-post status-publish format-standard hentry category-planet-finance tag-china tag-enterpriseam tag-ethiopia tag-financial-markets tag-iran tag-oil-and-gas tag-planet-finance tag-vodafone-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Oil posts worst weekly losses on Iran nuclear agreement progress:<\/strong> Oil prices suffered their biggest weekly losses in over a month, with the prospect of a supply glut following the lifting of US sanctions and the return of Iranian crude supplies weighing on prices, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-20\/oil-steadies-near-62-after-slump-with-iranian-supply-looming?sref=mmeFTDW1\">Bloomberg<\/a> reports. Rising inflation concerns and the continued impact of covid-19 on demand have been compounded by the prospect of Iran almost doubling its 2.4 mn bbl \/ d output in April to its pre-sanctions level of 4 mn barrels a day within three months, if US sanctions are lifted. The market is more prepared to absorb the additional supply in 4Q2021 but an earlier increase in supply \u201ccould hurt third-quarter balances,\u201d said a Deutsche Bank analyst. Iran is expected to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-05-23\/iran-to-continue-nuclear-talks-until-a-final-agreement-with-u-s?sref=mmeFTDW1\">extend its nuclear inspections agreement<\/a> with the International Atomic Energy Agency ahead of a fifth round of multilateral talks in Vienna that the country hopes will lead to the US rejoining the 2015 nuclear accord and the removal of Trump-era sanctions.<\/p><p><strong>US claims victory over China in Ethiopia's USD multi-bn telecom project: <\/strong>A US-backed consortium led by Vodafone was awarded contracts to build a 5G-equipped wireless network in Ethiopia, beating out MTN Group\u2019s rival bid, which was partially financed by China\u2019s Silk Road Fund, the <a href=\"https:\/\/www.wsj.com\/articles\/u-s-china-tech-fight-opens-new-front-in-ethiopia-11621695273?mod=hp_lead_pos1\">Wall Street Journal<\/a> reports. \u201cThe US and China are fighting a proxy war in Ethiopia for influence,\u201d said Zemedeneh Negatu, the chairman of Africa-focused US investment firm Fairfax Africa Fund. The competition over the contract was particularly significant as the US and China increasingly vie over future tech pursuits covering everything from 5G rollout to chip manufacturing.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,812<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.71<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,343<\/p>\n<\/td>\n<td>\n<p>- (YTD: +19.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,546<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +29.8%)<\/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>2,786<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +11.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,155<\/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 66.72<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.86<\/p>\n<\/td>\n<td>\n<p>-1.7%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,887.40<\/p>\n<\/td>\n<td>\n<p>+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 35,068.43<\/p>\n<\/td>\n<td>\n<p>-7.9%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 0.75% yesterday<\/strong> on turnover of EGP 1.29 bn (2.2% above the 90-day average). Foreign investors were net sellers. The index is down 0.35% YTD.<\/p><p><strong>In the green:<\/strong> ElSewedy Electric (+4.8%), Heliopolis Housing (+3.3%) and Sodic (+1.9%).<\/p><p><strong>In the red: <\/strong>Edita (-3.7%), Oriental Weavers (-1.9%) and Abu Qir Fertilizers (-1.4%).<\/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\/china\/\">China<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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\/vodafone-group\/\">Vodafone Group<\/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=\"562436\" 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=\"562436\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/24\/un-launches-gaza-reconstruction-aid-drive\/\">\r\n                            UN launches Gaza reconstruction aid drive                        <\/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\/24\/un-launches-gaza-reconstruction-aid-drive\/\" 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 ministers also discussed bilateral ties.<\/p>\n<p><strong>Meanwhile, the UN will launch an appeal for aid to rebuild Gaza after Israel\u2019s airstrikes<\/strong><strong> resulted in mns of USD-worth of infrastructural damage<\/strong>, UN Humanitarian Coordinator for the Palestinian territories Lynn Hastings said yesterday, according to <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-truce-holds-israel-admits-jewish-visitors-flashpoint-site-2021-05-23\/\">Reuters<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-minister\/\">Foreign Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"562437\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/\">\r\n                            Automation is making inroads at Egypt\u2019s international schools<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/\" 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\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/')\">\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\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/\">\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=Automation is making inroads at Egypt\u2019s international schools&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/\">\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\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/&title=Automation is making inroads at Egypt\u2019s international schools\">\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=Automation+is+making+inroads+at+Egypt%E2%80%99s+international+schools+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fblackboards%2Fautomation-is-making-inroads-at-egypts-international-schools%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/207.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"562438\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/automation-is-making-inroads-at-egypts-international-schools\/207-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/207.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"207.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/207.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/207.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-562437\" class=\"content-area-description post-562437 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-ai tag-ais tag-automation tag-azza-elsherbiny tag-bccis tag-cira-education tag-claire-rowland tag-data tag-educational-processes tag-eduhive tag-el-alsson tag-el-gouna-international-school tag-engage tag-enterprise-blackboard tag-enterpriseam tag-kapono-ciotti tag-karim-mostafa tag-karim-rogers tag-malvern-college-egypt tag-powerschool tag-rpa 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> How Egypt\u2019s int\u2019l schools are embracing automation in school processes:<\/strong> Though global education has long been termed <a href=\"https:\/\/singularityhub.com\/2017\/08\/13\/why-education-is-the-hardest-sector-of-the-economy-to-automate\/\">automation-resistant<\/a>, automated processes are becoming key to operations. In Egypt, educational process automation is now essential for private schools to manage basic admin, sources tell Enterprise. Education management software also integrates automation into more sophisticated activities, like data tracking and communication.<\/p>\n<p><strong>Egypt\u2019s top schools match regional and international peers in using this kind of automation<\/strong>, school leaders believe. Some prefer using ready-made programs, while others have designed their own software, tailored to need. But while all agree that automation makes processes more efficient, most struggle to quantify its value in terms of time and money saved.<\/p>\n<p><strong>What software are they using? <\/strong><a href=\"https:\/\/www.aisegypt.com\/\">AIS<\/a> uses <a href=\"https:\/\/www.powerschool.com\/\">PowerSchool<\/a>, a prominent US K-12 education management system, says Director Kapono Ciotti. All the schools managed by education management company <a href=\"https:\/\/eduhive.com\/\">Eduhive<\/a> \u2014 the <a href=\"https:\/\/bccis.ca\/\">three branches of BCCIS<\/a>, <a href=\"https:\/\/rbs-egypt.com\/\">Regent British School<\/a>, <a href=\"https:\/\/www.elgouna.com\/education\/\">El Gouna International School<\/a> and Saxony International School \u2014 use <a href=\"https:\/\/engagesmis.com\/\">Engage<\/a>, says Eduhive CEO Karim Mostafa. AIS spends some USD 5-7k a year on PowerSchool, says Ciotti. Eduhive spends some GBP 15-20k per school per year on Engage, says Mostafa.<\/p>\n<p><strong>Some are going in-house for their tech:<\/strong> El Alsson has invested roughly EGP 1 mn in creating its system, estimates Rogers. <a href=\"https:\/\/malverncollege.edu.eg\/\">Malvern College Egypt<\/a> has designed its own system, says CEO Azza ElSherbiny, and so has <a href=\"https:\/\/www.alsson.com\/\">El Alsson<\/a>, says Executive Director Karim Rogers.<\/p>\n<p><strong>What are they using these programs for? <\/strong>Most automate admin processes and even some communication and data analysis. Education management programs automate admissions, registration, and admin reminders. Automation is also an increasingly important part of data analysis and some internal and external communication, say school leaders. We break down what these processes are here:<\/p>\n<p><strong>Data analysis:<\/strong> Organizing and presenting student data \u2014 particularly on performance \u2014 is currently seen by the schools we spoke to as the most valuable service offered by automation software. \u201cThe big element for schools is tracking data,\u201d says Regent British School Principal Claire Rowland. Engage allows real time tracking, and presents data on past performance. <a href=\"https:\/\/powerbi.microsoft.com\/en-us\/\">Power BI<\/a>, which AIS uses for data visualization, doesn\u2019t collect data but automatically extracts and presents it, says Ciotti. \u201cIt automates pulling multi-source data into one dashboard, and creating analytics, graphics and comparisons.\u201d<\/p>\n<p><strong>Communication: <\/strong>Automating some communication with parents increases efficiency and parent engagement, says Rowland. This includes reminders about school trips and official holidays, and consent forms for using student images on social media. Non-automated, digitized communication about student progress or discipline is integrated into the same system, and helpful because it\u2019s immediate and secure, she says. It works internally too: if a student visits the school doctor and is sent home, the doctor can inform teachers through an automated messaging system.<\/p>\n<p><strong>Admissions:<\/strong> AIS\u2019 admissions system is digitized, so parents don\u2019t need physical copies of documents, and it reduces the school\u2019s manual entry, says Ciotti. Information is automatically fed into the student database, where it can be accessed when needed, he adds. Application through Malvern\u2019s website registration page triggers an automated email to set up booking and payment for an admissions assessment, says ElSherbiny. Families receive automated reminders of the assessment date, and a bar code for entry. Malvern can then track everything from physical entry on assessment day to student application status.<\/p>\n<p><strong>Attendance: <\/strong>El Alsson has a semi-automated registration process for students, says Rogers. Teachers take roll-call twice daily, with information automatically syncing up with the management system, so senior management knows immediately if anyone is missing. \u201cWe tried a fully-automated system where students tap in with wrist bands, but they kept losing them.\u201d AIS is testing a fully-automated system next academic year, automatically registering students when they pass through the school gates, says Ciotti. \u201cWe\u2019ve installed everything, and it just mass scans people, which will definitely save time.\u201d But they won\u2019t try this at the classroom level yet. \u201cWe want to try it out at the school attendance level first, before we start monitoring where people are digitally to that extent.\u201d<\/p>\n<p><strong>General and financial admin: <\/strong>When the BCCIS submits regular reports to the British Columbia Education Ministry, Engage uses plug-in data to automatically fill in information on the ministry\u2019s website, eliminating any need for double entry, says Mostafa. Malvern sends automated fee payment reminder emails to parents, says ElSherbiny. Automated fee payments could be made in installments, says Rogers, but few parents do this. \u201cIt\u2019s sometimes done by petroleum or telecom companies that pay on behalf of their employees, as part of a benefits system.\u201d<\/p>\n<p><strong>Does automation increase efficiency? Absolutely,<\/strong> says Mostafa. \u201cAt certain key points in the year \u2014 when I\u2019m writing report cards, for instance, or I need any kind of data analysis \u2014 automation software can cut down my workload considerably,\u201d Rowland agrees. It undoubtedly saves time by reducing the need for humans to undertake certain repetitive tasks, with some jobs that would have existed ten years ago \u2014 like pure data-entry \u2014 now eliminated, says ElSherbiny. Ciotti believes that in particular, it saves parents time and money. And over 12 months, AIS might save half the salary of an employee thanks to automation, he adds.<\/p>\n<p><strong>But is this all it\u2019s good for? <\/strong>The vast majority of schools we\u2019ve polled appear to be automating processes that schools use, but does that mean we cannot automate education itself? Not for some, who have begun adopting new tech to shape how students learn in the classroom. <strong>We dive deeper into these programs next week.<\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Egypt is ranked <\/strong><strong><a href=\"https:\/\/www.scimagojr.com\/countryrank.php?year=2020&fbclid=IwAR3ZAD7tr6fEr1XzdLsNOKI3dQqt8-LWCaS0GRAMUZYUQsHyKLzkNCeR4MA\">30th worldwide<\/a><\/strong><strong> for scientific research output<\/strong> by Spain\u2019s SCImago Journal<\/li>\n<li><strong>Mandarin for middle schoolers:<\/strong> The Education Ministry is looking to give middle school students the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f32ffa1-2a8f-467d-94f9-fa20bcf0e3e6\">option of studying Mandarin<\/a> as a foreign language as of the next academic year.<\/li>\n<li><strong>Open Sky International\u2019s first Egypt school:<\/strong> Paris-based education group Open Sky International is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21586ace-41e5-47f7-8ccf-f92eb716f19f\">opening the doors<\/a> to its first school in Cairo this September, with plans to set up another 10 schools in Egypt by 2025.<\/li>\n<li><strong>Vaccines for proctors + students:<\/strong> Thanaweya Amma and university exam proctors will begin receiving covid-19 vaccines, with exams set to be held in July and August, Health Minister <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8cccde8-ccde-47a6-8e76-b86ec514dcd5\">Hala Zayed said<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ais\/\">AIS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automation\/\">automation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/azza-elsherbiny\/\">Azza ElSherbiny<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bccis\/\">BCCIS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/claire-rowland\/\">Claire Rowland<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data\/\">data<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/educational-processes\/\">educational processes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eduhive\/\">Eduhive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-alsson\/\">El Alsson<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-gouna-international-school\/\">El Gouna International School<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/engage\/\">Engage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kapono-ciotti\/\">Kapono Ciotti<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karim-mostafa\/\">Karim Mostafa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karim-rogers\/\">Karim Rogers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/malvern-college-egypt\/\">Malvern College Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/powerschool\/\">PowerSchool<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rpa\/\">RPA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"562439\" 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\/24\/your-essential-business-calendar-on-24-may-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562439\" class=\"content-area-description single-story post-562439 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 virtual healthcare week.<\/p>\n<p>26 May (Wednesday): Final day for Africa-based startups to apply for the French government-sponsored <a href=\"https:\/\/ent.news\/2021\/5\/LAUNCH-OF-THE-FIFTH-EDITION-OF-THE-AFD-DIGITAL-CHALLENGE.docx.pdf\">AFD Digital Challenge (pdf)<\/a>.<\/p>\n<p>27-29 May (Thursday-Saturday): Informa Markets\u2019 <a href=\"https:\/\/www.nextmoveegypt.com\/en\/Forms\/Book-A-Stand.html\">Nextmove<\/a> real estate exhibition, Cairo International Convention Center, Nasr City.<\/p>\n<p>30 May (Sunday): Al Mal GTM is organizing the <a href=\"https:\/\/bit.ly\/3h8CpfX\">Portfolio Egypt<\/a> conference under the theme \u2018Growth under the weight of the pandemic.\u2019<\/p>\n<p>31 May (Monday): Egypt is hosting Trescon Global\u2019s <a href=\"https:\/\/www.tresconglobal.com\/conferences\/ai\/egypt\/\">World AI Show<\/a> with the support of ITIDA.<\/p>\n<p>7 June (Monday): British Egyptian Business Association hosts event featuring Oil Minister Tarek El Molla.<\/p>\n<p>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":562416,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562415","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6db22c89-dd1f-46b1-9fec-087a144737bc","teaser":"","photo_url":"https:\/\/ent.news\/2021\/5\/202.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>Budget debate, FRA\u2019s role in regulating fintech take center stage in the House - 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\/budget-debate-fras-role-in-regulating-fintech-take-center-stage-in-the-house\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget debate, FRA\u2019s role in regulating fintech take center stage in the House\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/budget-debate-fras-role-in-regulating-fintech-take-center-stage-in-the-house\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:42:15+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\/202.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\/budget-debate-fras-role-in-regulating-fintech-take-center-stage-in-the-house\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/budget-debate-fras-role-in-regulating-fintech-take-center-stage-in-the-house\/\",\"name\":\"Budget debate, FRA\u2019s role in regulating fintech take center stage in the House - 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