{"id":562700,"date":"2021-06-03T03:47:19","date_gmt":"2021-06-03T03:47:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562700"},"modified":"2025-12-16T03:49:08","modified_gmt":"2025-12-16T03:49:08","slug":"abu-dhabis-sovereign-wealth-fund-could-purchase-a-stake-in-juhayna","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/abu-dhabis-sovereign-wealth-fund-could-purchase-a-stake-in-juhayna\/","title":{"rendered":"Abu Dhabi\u2019s sovereign wealth fund could purchase a stake in Juhayna"},"content":{"rendered":"<section id=\"562702\" 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=\"562702\">\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\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/\">\r\n                            THIS MORNING: It\u2019s PMI day; Yalla, Bibi.                        <\/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\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/\" 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\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/')\">\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\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: It\u2019s PMI day; Yalla, Bibi.&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/\">\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\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/&title=THIS MORNING: It\u2019s PMI day; Yalla, Bibi.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+It%E2%80%99s+PMI+day%3B+Yalla%2C+Bibi.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fthis-morning-its-pmi-day-yalla-bibi%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\/06\/03\/this-morning-its-pmi-day-yalla-bibi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562702\" class=\"content-area-description single-story post-562702 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-benjamin-netanyahu tag-enterpriseam tag-israel tag-pmi tag-politics 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, and a very happy Thursday to our readers:<\/strong> We have a packed issue to close out the week this morning, so let\u2019s get to it ...<\/p><p><strong>It\u2019s PMI day: <\/strong>May\u2019s purchasing managers\u2019 index figures for Egypt, Saudi Arabia and the UAE land this morning at 6:15 CLT. The survey claims Egypt\u2019s non-oil private sector <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2dcfcd20-2bb5-4453-bf6c-94aab883abd1\">continued to face uncertainty in April<\/a>, with declines in demand, production and employment keeping activity in contraction for a fifth straight month.<\/p><p><strong>Other key indicators to keep an eye out for in coming weeks:<\/strong><\/p><ul>\n<li>Foreign reserves figures for May will be out early next week.<\/li>\n<li>May inflation data will be released next week.<\/li>\n<li>Interest rates: The Central Bank of Egypt will meet Thursday, 17 June to review rates.<\/li>\n<\/ul><hr class=\"grey-line\"><p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>THE BIG STORY INTERNATIONALLY THIS MORNING-<\/strong><strong> The end is almost certainly nigh for <\/strong><strong>Bibi:<\/strong> Benjamin Netanyahu\u2019s 12-years at the helm of the Israel government could be over as a loose coalition of opponents agreed to form a coalition last night that would remove him from power. Liberal opposition leader Yair Lapid told President Reuven Rivlin that he had the numbers to finally form a government following four indecisive elections, paving the way for a parliamentary vote next week.<\/p><p><strong>Who would replace him and what would this mean for Egypt?<\/strong> Lapid would share the prime ministership with his main partner, the far-right ultranationalist leader Naftali Bennett, who would take the position for the first two years before handing it over to Lapid. The coalition itself is a motley crew of liberals, Islamists and right-wing settlers: a mix of opposing parties that makes predicting a policy direction at this stage almost impossible.<\/p><p><strong>Plus, this thing isn\u2019t quite over yet:<\/strong> With the coalition having a tiny parliamentary majority, Netanyahu still has a hope of thwarting his ouster, likely appealing to Bennett\u2019s far-right Yamina party to vote against it, which would send the country into a fifth election in two years.<\/p><p><strong>This is front page news everywhere this morning:<\/strong> From <a href=\"https:\/\/www.nytimes.com\/2021\/06\/02\/world\/middleeast\/netanyahu-bennett-israel-coalition.html\">the New York Times<\/a> and <a href=\"https:\/\/apnews.com\/article\/middle-east-062e6baf13e774f30c4e697cb9f2d1f1\">the AP<\/a> to <a href=\"https:\/\/www.wsj.com\/articles\/israel-netanyahu-government-11622666936?mod=hp_lead_pos1\">the Wall Street Journal<\/a> and <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israels-lapid-enlists-gantz-moves-closer-unseating-netanyahu-2021-06-02\/\">Reuters<\/a>.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>Colliers international is now more hopeful about the Red Sea\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3ac0c7c-9258-4a62-b6e9-893075c674c5\">tourism prospects<\/a><\/strong><strong> for 2021: <\/strong>The real estate services company now expects full-year hotel occupancy rates in Sharm El Sheikh to reach 42%, up from 81% in 2020, while hotels in Hurghada are expected to see 46% occupancy, nearly double last year\u2019s rate<\/li>\n<li><strong>A new basket of structural reforms are in the pipeline:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a90acf00-10d7-4a81-9d9d-8990542e2d81\">Priority industries<\/a> include \u201ctech-intensive manufacturing,\u201d agriculture, and communications and IT, as well as financial inclusion, agriculture, and vocational education.<\/li>\n<li><strong>Egypt is expected to (almost) match its pre-pandemic growth level in this final quarter of the state\u2019s current fiscal year: <\/strong>The economy is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dc06799e-2096-4852-a2f5-98a47b8417d0\">penciled in to grow<\/a> 5.2-5.5% this quarter, having grown at a 2.9% clip in 3Q2020-2021 and 2% the previous quarter.<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.gymnastics.sport\/site\/events\/detail.php?id=16598#loaded\">FIG World Challenge Cup<\/a><\/strong><strong> in Artistic Gymnastics for men and women<\/strong> will kick off in Egypt on Thursday and run until Sunday.<\/p><p><strong>The British Egyptian Business Association will hold a virtual conversation with Oil <\/strong><strong>Minister Tarek El Molla on 7 June<\/strong> to discuss the sector\u2019s achievements. You can register <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_MVUuhotDTyOEplB7iVpuNw\">through this link<\/a>.<\/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>\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\/benjamin-netanyahu\/\">Benjamin Netanyahu<\/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\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"562703\" 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=\"562703\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/562703\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562703\" class=\"content-area-description single-story post-562703 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/SOMA-ENTERPRISE-WHITEBEACH-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\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=\"562704\" 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=\"562704\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/adq-could-be-eyeing-up-juhayna\/\">\r\n                            ADQ could be eyeing up Juhayna                        <\/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\/06\/03\/adq-could-be-eyeing-up-juhayna\/\" 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 discussions are still at a preliminary stage and there\u2019s no certainity the fund will go ahead with the transaction, sources said.<\/p>\n<p><strong>ADQ would pick up Juhayna at a sharp discount to where it was trading just five months ago:<\/strong> The company\u2019s share price has plunged more than 40% since mid January, handing it a market cap of less than EGP 4 bn compared to EGP 6.7 bn earlier this year. Shares in the company suffered a huge <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8f9a9b1f-69b7-4db0-b254-ccbd6ebf79d3\">17% intraday plunge<\/a> in February after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97cd926c-9da0-496b-b89d-f3d1474c7a2c\">CEO Seif Thabet was detained<\/a> in an investigation into alleged financing of terror groups (unrelated to his role at the company), just a few months after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/692e0dbb-bdc8-40ba-9fba-fb2926de93e9\">his father was detained<\/a> amid similar allegations. Juhayna\u2019s shares have been under pressure for the past two years, and are now worth less than a third of their peak in 2019.<\/p>\n<p><strong>Juhayna is also facing issues with the EGX after failing to report its 2020 financials.<\/strong> The bourse <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b008ce56-a392-4bee-9678-8e1988912054\">has moved the company to its \u201cD-list\u201d<\/a> until it receives its annual accounts, meaning investors cannot buy its stock on margin and it won\u2019t be on the list of stocks in which same-day trading is permitted. The company says it hopes to submit its financials by mid-June.<\/p>\n<p><strong>ADQ has been on an acquisition spree as of late<\/strong>, acquiring 100% of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d117b907-a3f9-4a75-80dc-b07748621d7a\">Amoun Pharma<\/a> in April in a USD 740 mn transaction, and investing USD 1 bn last year in retailer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/958aae17-9582-4af8-a183-ae322ccf304b\">LuLu\u2019s Egypt expansion<\/a>. It\u2019s also looking at investments in Egyptian meat and poultry business <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad79dcc4-e48b-492b-a3fc-e706b8fcb8cc\">Atyab<\/a> and gas stations operator <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d32e060-6886-4e50-912d-289c42928f40\">Wataniya<\/a>. Still, having amassed an estimated USD 110 bn in assets since its founding in 2018, the fund wants to make significant new investments over the next five years, CEO Mohamed Hassan Alsuwaidi told Bloomberg <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c19d4a2-09dd-4630-9337-bc0e08fbd385\">last month<\/a>.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562706\" 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=\"562706\">\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\">COMPETITION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/\">\r\n                            The tobacco license tender may be back on again                        <\/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\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/\" 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\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/')\">\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\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The tobacco license tender may be back on again&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/\">\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\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/&title=The tobacco license tender may be back on again\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+tobacco+license+tender+may+be+back+on+again+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fthe-tobacco-license-tender-may-be-back-on-again%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\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/46.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562707\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-tobacco-license-tender-may-be-back-on-again\/46-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/46.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"46.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/46.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/46.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562706\" class=\"content-area-description single-story post-562706 post type-post status-publish format-standard has-post-thumbnail hentry category-competition-watch tag-british-american-tobacco-egypt tag-competition-watch tag-eastern-company tag-enterpriseam tag-hany-aman tag-imperial-tobacco tag-industrial-development-authority tag-jti-nakhla-tobacco tag-mansour-group tag-tobacco 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>Revised terms for the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc6218c5-a369-4987-b5ec-3e9aa59744bb\">license<\/a><\/strong><strong> to establish Egypt\u2019s second major tobacco<\/strong> <strong>company have been handed to four local tobacco companies<\/strong>, according to a document seen by <a href=\"https:\/\/www.reuters.com\/article\/idUSKCN2DE2DC\">Reuters<\/a>. The conditions booklet for the tender \u2014 which is set to end Eastern Tobacco\u2019s historical monopoly over the sector \u2014 has been redrafted by the government more than two months after several tobacco players <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ffc1052f-8eb7-40e9-942a-4dae46ce0b3b\">filed a formal complaint<\/a> asking for new, more competitive terms. The government had been drawing up the new rules for the tender as of late <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aff82a04-dc18-4b85-8217-701f204553ee\">April<\/a>.<\/p>\n<p><strong>What\u2019s new?<\/strong> The new terms slash the number of cigarettes the company will have to produce to 1 bn each year, down from 15 bn in the original tender. The government has also reversed its position on future licenses, and has now agreed to issue more a decade following the tender.<\/p>\n<p><strong>It\u2019s not known how authorities have tackled some of the other sticking points:<\/strong><\/p>\n<p>The most controversial aspect of the original tender was the preferential treatment it would hand to Eastern, allowing it to compete unfairly against the new company. Not only would the new license have to hand a 24% stake to Eastern, but it would be forced to sell popular brands at a price 50% higher than Eastern, effectively shutting them out of the market. The four companies also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9ab1edb-e80e-4a07-a581-5b7effab2569\">alleged that the terms breached antitrust rules<\/a>, claiming that the new company would assume monopoly power over e-cigarettes and heated tobacco products.<\/p>\n<p><strong>Who\u2019s in?<\/strong> The Industrial Development Authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37788807-9726-457b-9df0-f4fca702d0f2\">invited<\/a> JTI-Nakhla Tobacco, British American Tobacco Egypt, Imperial Tobacco and Al Mansour International Distribution Company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37788807-9726-457b-9df0-f4fca702d0f2\">to bid<\/a> for the new license in March. It remains unclear which companies will submit bids based on the new terms.<\/p>\n<p><strong>The deadline for lodging bids is now set on 1 August<\/strong>, according to the newswire.<\/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\/british-american-tobacco-egypt\/\">British American Tobacco Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/competition-watch\/\">competition watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hany-aman\/\">Hany Aman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imperial-tobacco\/\">Imperial Tobacco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-authority\/\">Industrial Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jti-nakhla-tobacco\/\">JTI-Nakhla Tobacco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mansour-group\/\">Mansour Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tobacco\/\">tobacco<\/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=\"562708\" 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=\"562708\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/562708\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562708\" class=\"content-area-description single-story post-562708 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:\/\/e2-alamein.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/IDG-Ad-Week-2-FB-1600-x-1200.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>Looking for a central location with advanced industrial facilities to set up shop near North Coast business points this summer?<\/strong> Our industrial park e<sup>2<\/sup> Alamein\u2019s prime location places you right at the center of vital trade points alongside the country\u2019s popular Northern spots. With pre-built factories and warehouses ready for lease, the park\u2019s facilities are adjustable to fit your business needs, from accommodating central kitchens to specialized warehousing requirements, and more. Powered by Industrial Development Group, e<sup>2<\/sup> Alamein offers smart investments for temporary business \u2014 and is right where your business should be this summer.<\/p>\n<p>For more information, visit <a href=\"http:\/\/e2-alamein.com\/\">e2-alamein.com<\/a>.<\/p>\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=\"562709\" 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=\"562709\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/\">\r\n                            2.5 mn people have had at least one covid shot + our first batch of homemade CoronaVac will be ready this month                        <\/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\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/\" 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\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/')\">\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\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/\">\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=2.5 mn people have had at least one covid shot + our first batch of homemade CoronaVac will be ready this month&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/\">\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\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/&title=2.5 mn people have had at least one covid shot + our first batch of homemade CoronaVac will be ready this month\">\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=2.5+mn+people+have+had+at+least+one+covid+shot+%2B+our+first+batch+of+homemade+CoronaVac+will+be+ready+this+month+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2F2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month%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\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/47.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562710\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/2-5-mn-people-have-had-at-least-one-covid-shot-our-first-batch-of-homemade-coronavac-will-be-ready-this-month\/47-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/47.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"47.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/47.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/47.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562709\" class=\"content-area-description single-story post-562709 post type-post status-publish format-standard has-post-thumbnail hentry category-covid-watch tag-antony-blinken tag-astrazeneca tag-covax tag-covid-19 tag-enterpriseam tag-hala-el-said tag-health-minister tag-japan tag-sinopharm tag-sinovac tag-us tag-world-health-organization 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>Some 2.5 mn people \u2014 2.4% of Egypt\u2019s population \u2014 have received at least<\/strong> <strong>one <\/strong><strong>dose of a covid-19 vaccine, <\/strong>Prime Minister Moustafa Madbouly said at a press conference yesterday. This is a 400k increase from the 2.1 mn figure Cabinet Spokesperson Nader Saad <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">reported last week<\/a>, and a near-1-mn increase from a 1.6 mn figure announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4d085fc-892c-4f35-8276-eeef2bbb220d\">last week<\/a> by Ayman Sebae, a health researcher for the Egyptian Initiative for Personal Rights. The government is aiming to vaccinate 40% of the population by the end of the year, Madbouly said, a figure slightly below <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">the one given by Saad earlier this week<\/a>, who said that half the country\u2019s population would have received their shots before the year is out.<\/p>\n<p><strong>For that to happen, people need to start registering:<\/strong> Some 6 mn people have so far registered to get vaccinated since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c3611499-4c07-4b9f-b40b-1fdcadead53e\">registration was opened<\/a> to the public in March, Madbouly said yesterday. This amounts to just 6% of the population.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/395216958695589\">reported<\/a><\/strong><strong> 951 new covid-19 infections yesterday<\/strong>, down from 956 the day before. Egypt has now disclosed a total of 264,557 confirmed cases of covid-19. The ministry also reported 42 new deaths, bringing the country\u2019s total death toll to 15,178.<\/p>\n<p><strong>We\u2019re past the third wave <\/strong>thanks to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7cb40a2-315a-482b-a56e-9a95c6788e1a\">precautionary measures<\/a> the government took during Eid El Fitr period<strong>, <\/strong>covid-19 task force member Mohamed Nady told DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=Dke91UTErIQ\">watch, runtime 13:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=Dke91UTErIQ\">34<\/a><sup><\/sup>). Daily infection rates have fallen by more than 20% from their recent peak <sup><\/sup>while the daily death toll is also starting to slow.<\/p>\n<p><strong>The first batch of homemade shots of China\u2019s Sinovac vaccine should be produced by<\/strong><strong> the end of this month<\/strong>, the Health Ministry said in <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/395062628711022\">a statement<\/a> yesterday. The shots will then be shipped to the Egyptian Drug Authority and a Chinese lab team for a final thorough analysis before their rollout into the market.<\/p>\n<p><strong>The announcement comes a day after the World Health Organization (WHO) <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/24bacbb1-a2aa-4e35-a07b-4fd0e84ec3ec\">approved<\/a><\/strong><strong> the emergency listing of the Sinovac jab<\/strong>, which Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84d063a5-3089-4d27-9030-41952a930d4d\">cleared for use<\/a> in April.<\/p>\n<p><strong>Need a refresher on the differences between the Sinovac and Sinopharm jabs?<\/strong> <a href=\"https:\/\/enterprise.press\/stories\/2021\/03\/23\/we-could-make-sinovac-tourism-workers-at-the-head-of-the-line-35942\/\">We\u2019ve got you covered.<\/a><\/p>\n<p><strong>We are also expecting to receive 2k liters of Sinovac\u2019s active ingredients this month<\/strong> to manufacture the expected <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">3 mn doses<\/a>, after having received the first batch of raw materials in May.<\/p>\n<p><strong>We should be getting Sinovac and Sinopharm doses by mid June: <\/strong>A 1 mn-dose shipment of China's Sinovac vaccine will arrive over two equal batches on 5 and 16 June, with an additional 1 mn doses of Sinopharm slated for delivery on 13 June. Health Minister Hala Zayed said during a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/147425047427924\">cabinet meeting<\/a>. The minister did not give any further details on when the new 1.9 mn-jab batch of Oxford \/ AstraZeneca vaccine is expected, though earlier reports had said the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8cccde8-ccde-47a6-8e76-b86ec514dcd5\">first week of June<\/a>.<\/p>\n<p><strong>Egypt now has 408 state-run vaccination centers across the country now administering<\/strong> <strong>the vaccine<\/strong>, up from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4d085fc-892c-4f35-8276-eeef2bbb220d\">403 facilities<\/a> announced in late May, the ministry said.<\/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\/antony-blinken\/\">Antony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-minister\/\">Health Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinopharm\/\">Sinopharm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"562711\" 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=\"562711\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/just-fly-already\/\">\r\n                            Just fly, already                        <\/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\/06\/03\/just-fly-already\/\" 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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When asked by reporters whether flights will return in the summer, Bogdanoff replied with \u201c<a href=\"https:\/\/bit.ly\/3yY4TPS\">I think so.<\/a>\u201d<\/p>\n<p><strong>The nation\u2019s talking heads might have gotten a bit carried away with this last night<\/strong>, taking this to mean \u201cFlights are returning this summer.\u201d Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=EQz9eMKNqxA\">watch, runtime: 11:16<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=xik3uwvLsbc\">watch, runtime: 9:06<\/a>) both had the story last night.<\/p>\n<p><strong>But this is far from certain<\/strong>, especially given Putin\u2019s press secretary <a href=\"https:\/\/www.interfax-russia.ru\/rossiya-i-mir\/peskov-sroki-vosstanovleniya-aviasoobshcheniya-s-kurortami-egipta-poka-ne-ustanovleny\">said on Tuesday<\/a> that no date has been set for their return.In past years we\u2019ve seen repeated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb5dcfbb-f5d3-4d09-909c-6db7ed5c5be8\">delays<\/a> in the resumption of direct flights to the Red Sea, initially due to security concerns and more recently because of a resurgence of covid-19 cases.<\/p>\n<p><strong>Egypt is anxious to finally put the 2015 Metrojet crash behind it and welcome Russians <\/strong><strong>back to its shores<\/strong>, not least because of the blow suffered by its tourism sector due to covid. It has been estimated that Russian tourists alone used to bring <a href=\"https:\/\/alborsaanews.com\/2021\/04\/23\/1436784\">USD 3.5 bn in revenues<\/a>.<\/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\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562713\" 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=\"562713\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/\">\r\n                            Tourism sector just got a five-month breather from the corona tax                        <\/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\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/\" 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\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/')\">\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\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/\">\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=Tourism sector just got a five-month breather from the corona tax&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/\">\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\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/&title=Tourism sector just got a five-month breather from the corona tax\">\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=Tourism+sector+just+got+a+five-month+breather+from+the+corona+tax+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Ftourism-sector-just-got-a-five-month-breather-from-the-corona-tax%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\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/49.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562714\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/49-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/49.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"49.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/49.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/49.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562713\" class=\"content-area-description single-story post-562713 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-covid-19 tag-economy tag-enterpriseam tag-tourism 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>Corona tax freeze for tourism companies:<\/strong> Companies in the struggling tourism sector are being given some breathing room after the government agreed to postpone payment of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ac71923-d25f-4737-b794-a57cb8c44f9a\">1% tax on salaries introduced last year<\/a> to shore up government finances through the pandemic. Tourism companies will not have to pay the tax until 31 October under <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/147517800751982\">a decision made by the cabinet<\/a> during its weekly meeting yesterday, a move designed to ease financial pressure on the sector which has been one of the hardest hit by covid-19. Both public and private sector companies have been required to pay the temporary 12-month tax <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ac71923-d25f-4737-b794-a57cb8c44f9a\">since last summer<\/a>, the proceeds of which will be used to protect the country from the ongoing pandemic emergency.<\/p>\n<p><strong>The waiver comes as part of a raft of measures and initiatives by the state to support our tourism industry.<\/strong> The CBE last year increased funding to support the tourism sector to EGP 50 bn, allowing more companies in the sector to access soft loans to renovate and upgrade tourism infrastructure. The central bank cut interest rates by a combined <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8aec33ff-7ac6-4c37-ac87-0e08f836cad9\">400 bps last year<\/a> to help struggling businesses cope with the repercussions of covid-19.<\/p>\n<p><strong>ALSO FROM THE CABINET MEETING-<\/strong><\/p>\n<p><strong>Some EGP 50 mn will be used to purchase extra medical-grade oxygen to shore up the country\u2019s s<\/strong><strong>upplies<\/strong>, according to a decision greenlit yesterday. Questions have been raised over supplies after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/765512a4-bbfb-47ee-9828-172f5801cab5\">several deaths in a Sharqia hospital<\/a> earlier this year were alleged to have been caused by an oxygen shortage. The government has been working to secure more supplies, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1fd6ff17-c7f0-4d1e-b45c-47241b0d2efe\">saying in April<\/a> that it now has 2.2 mn liters on hand, up from 1.2 mn in February. It wants to increase this further to 3 mn liters in anticipation of further waves of the virus putting pressure on the country\u2019s healthcare system.<\/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\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562715\" 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=\"562715\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/\">\r\n                            BalancED to set up EGP 500 mn int\u2019l school in MNHD\u2019s Taj City                        <\/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\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/\" 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\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/')\">\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\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/\">\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=BalancED to set up EGP 500 mn int\u2019l school in MNHD\u2019s Taj City&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/\">\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\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/&title=BalancED to set up EGP 500 mn int\u2019l school in MNHD\u2019s Taj City\">\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=BalancED+to+set+up+EGP+500+mn+int%E2%80%99l+school+in+MNHD%E2%80%99s+Taj+City+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fbalanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city%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\/06\/03\/balanced-to-set-up-egp-500-mn-intl-school-in-mnhds-taj-city\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562715\" class=\"content-area-description single-story post-562715 post type-post status-publish format-standard hentry category-education tag-education tag-enterpriseam tag-investment-watch tag-madinet-masr-for-housing-and-development wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong><a href=\"https:\/\/www.facebook.com\/BalancEDorg\/\">BalancED<\/a><\/strong><strong> is setting up a K-12 international school in Madinet Nasr Housing and <\/strong><strong>Development\u2019s (MNHD) Taj City in East Cairo at an investment cost of EGP 500 mn<\/strong>, Business Development Director Ali Bakry told us. Under an agreement with MNHD, BalancED will purchase land in the residential compound to set up a branch of <a href=\"https:\/\/www.facebook.com\/astencollege\/\">Asten College<\/a>, which will be owned, managed and operated by the education company, Bakry said.<\/p>\n<p><strong>Palm Hills out, Madinet Nasr in:<\/strong> The school was <a href=\"https:\/\/www.facebook.com\/astencollege\/posts\/1918387261798340?__tn__=-R\">originally been planned<\/a> to be set up in partnership with Palm Hills Development, but talks that began in 2017 later broke down.<\/p>\n<p><strong>The company is planning to invest EGP 1.2 bn by 4Q2021<\/strong>, most of which will be deployed in the flagship school and an acquisition of an existing unnamed school expected to close in September, Bakry said. The remainder, less than 10%, will be used to fund collaborations to host seminars and education and training programs with each of Vodafone Egypt\u2019s CSR arm, leadership training company FranklinCovey, and the University of Indiana.<\/p>\n<p><strong>Where\u2019s the money coming from?<\/strong> The company plans to finance the new big-ticket investments through a mixture of self-financing (40%), bank loans (35%), and raising equity (25%), Bakry said.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/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=\"562716\" 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=\"562716\">\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\">PRIVATE SECTOR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/\">\r\n                            Nine PPP infrastructure projects get early approval                        <\/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\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/\" 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\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/')\">\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\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/\">\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=Nine PPP infrastructure projects get early approval&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/\">\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\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/&title=Nine PPP infrastructure projects get early approval\">\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=Nine+PPP+infrastructure+projects+get+early+approval+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fnine-ppp-infrastructure-projects-get-early-approval%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\/06\/03\/nine-ppp-infrastructure-projects-get-early-approval\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562716\" class=\"content-area-description single-story post-562716 post type-post status-publish format-standard hentry category-private-sector tag-enterpriseam tag-infrastructure tag-logistics tag-private-sector tag-public-private-partnership wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Nine proposed PPP infrastructure projects have been given preliminary approval by the<\/strong><strong> cabinet<\/strong>, spokesperson Nader Saad said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/147677100736052\">a statement<\/a> yesterday. Five of the proposed projects are a combination of dry ports and logistics centers, designed to reduce traffic through seaports and cut costs. This includes the Tenth of Ramadan dry port under a revenue-sharing agreement with some private players. A formal proposal for the latter project will be presented to the Cabinet during its upcoming meeting, Saad said. The projects also include new dry ports in Beni Suef, Sadat City and Borg El Arab, a logistics zone alongside the Sixth of October dry port, an expansion of the Alexandria and Dekheila ports and a new cargo terminal at Safaga.<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-sector\/\">private sector<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/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=\"562717\" 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=\"562717\">\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\">DEVELOPMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/legalize-now-check-later\/\">\r\n                            Legalize now, check later                        <\/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\/06\/03\/legalize-now-check-later\/\" 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\/06\/03\/legalize-now-check-later\/')\">\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\/06\/03\/legalize-now-check-later\/\">\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=Legalize now, check later&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/legalize-now-check-later\/\">\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\/06\/03\/legalize-now-check-later\/&title=Legalize now, check later\">\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=Legalize+now%2C+check+later+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Flegalize-now-check-later%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\/06\/03\/legalize-now-check-later\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/50.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562718\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/legalize-now-check-later\/50-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/50.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"50.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/50.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/50.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562717\" class=\"content-area-description single-story post-562717 post type-post status-publish format-standard has-post-thumbnail hentry category-development tag-building-code tag-development tag-enterpriseam tag-hayah-karima tag-infrastructure tag-moustafa-madbouly tag-real-estate 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>Owners of rural properties that were found to be in violation of the building code<\/strong><strong> will be able to legalize their properties more quickl<\/strong>y and receive access to basic utilities after the government decided to simplify the time-consuming settlement process, the cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/147517800751982\">announced yesterday<\/a>.<\/p>\n<p><strong>The status quo:<\/strong> Currently, the government doesn\u2019t allow property owners to start paying reconciliation fees and legalizing their buildings before the information they submitted to the government has been verified. The process has quickly become slow and cumbersome, with mns people left with buildings in legal limbo and without access to basic utilities as authorities vet every file.<\/p>\n<p><strong>What\u2019s changing?<\/strong> Officials will no longer visit every building to verify information filed with the settlement requests. Instead, the government will accept their requests and allow them to start paying their fees and legalizing their properties before checks are carried out, Prime Minister Moustafa Madbouly <a href=\"https:\/\/bit.ly\/3wWRHZP\">said in a press conference<\/a> yesterday. The government will work to check the accuracy of each individual file over the next three years, and those who provided incorrect information will have their building\u2019s legal status revoked, he said.<\/p>\n<p><strong>Caveat: <\/strong>The decision does not apply to illegal buildings on state-owned land, the cabinet said.<\/p>\n<p><strong>And why? <\/strong>The government wants to facilitate the process of legalizing the status of those living in underserved rural areas in order to provide them with access to utility services through its multi-bn EGP <a href=\"https:\/\/www.presidency.eg\/en\/%D8%A7%D9%84%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9\/%D9%85%D8%A8%D8%A7%D8%AF%D8%B1%D8%A9-%D8%AD%D9%8A%D8%A7%D8%A9-%D9%83%D8%B1%D9%8A%D9%85%D8%A9\/\">Decent Life Initiative<\/a>.<\/p>\n<p><strong>Background: <\/strong>The government is on track to settle as many as 2.8 mn building code violations after it allowed the owners of those properties to pay a so-called \u201creconciliation fee\u201d as part of a nationwide campaign to crack down on illegal construction. Families living in those homes were forced to file in requests and make payments of EGP 50 per sqm to get their properties legitimized by no later than the end of March. Processing those requests would then have required visits from state officials to validate the sizes of mns of homes.<\/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\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hayah-karima\/\">Hayah Karima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562719\" 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=\"562719\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/\">\r\n                            AUC has new trustees; Bank Audi CEO + Bank ABC chairman resign                        <\/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\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/\" 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\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/')\">\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\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/\">\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=AUC has new trustees; Bank Audi CEO + Bank ABC chairman resign&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/\">\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\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/&title=AUC has new trustees; Bank Audi CEO + Bank ABC chairman resign\">\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=AUC+has+new+trustees%3B+Bank+Audi+CEO+%2B+Bank+ABC+chairman+resign+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fauc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign%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\/06\/03\/auc-has-new-trustees-bank-audi-ceo-bank-abc-chairman-resign\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562719\" class=\"content-area-description single-story post-562719 post type-post status-publish format-standard hentry category-moves tag-auc tag-bank-abc tag-bank-audi tag-enterpriseam tag-moves tag-public-enterprises-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The American University in Cairo (AUC) recently appointed Shahira Zeid (<\/strong><strong><a href=\"https:\/\/www.aucegypt.edu\/about\/leadership\/board-trustees\/shahira-zeid\">bio<\/a><\/strong><strong>) and <\/strong><strong>Wael Bayazid (<\/strong><strong><a href=\"https:\/\/www.aucegypt.edu\/about\/leadership\/board-trustees\/wael-bayazid\">bio<\/a><\/strong><strong>) as new members of its board of trustees<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/6\/New-Trustees-2021-English.pdf\">statement (pdf)<\/a>. Zeid acts as the chairperson of Maridive and Oil Services, and is also chair of MZ Investments. She has been named by Forbes Middle East as one of the most powerful businesswomen in the region, and was selected as one of the top 50 businesswomen in Egypt in 2015. Bayazid has extensive experience in the banking and financial sector, and has served as the Managing Director and partner of global investment firm the Carlyle Group since 1996.<\/p>\n<p><strong>Mohamed Bedeir<\/strong> (<a href=\"https:\/\/eg.linkedin.com\/in\/mohamed-bedeir-2219462a\">LinkedIn<\/a>) has resigned as the <strong>CEO<\/strong> and <strong>managing director<\/strong> of <strong>Bank <\/strong><strong>Audi Egypt<\/strong>, while <strong>Bank ABC Egypt Chairman Akram Tinawi<\/strong> (<a href=\"https:\/\/www.amcham.org.eg\/membership\/members-database\/4278\/arab-banking-corporation-egypt-bank-abc\">bio<\/a>) also stepped down on Wednesday, according to <a href=\"https:\/\/dailynewsegypt.com\/2021\/06\/02\/bank-audi-egypt-ceo-steps-down-bank-abc-chief-to-leave-within-days\/\">the local press<\/a>. Both executives are set to join other banking institutions in Egypt, which they\u2019ll be announcing of \u201cat a later time,\u201d the newspaper said. The move comes less than a month after First Abu Dhabi Bank\u2019s (FAB) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/118cc024-d45f-4fe1-92a1-10d875cc3380\">acquired Audi\u2019s Egypt unit<\/a>, while Bank ABC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df20d722-96bc-49f0-83a4-99289f2a3574\">inches closer<\/a> to the acquisition of a 99.42% stake in Blom Bank Egypt.<\/p>\n<p><strong>Saad Megahed Al Rajhi has been appointed as the new non-executive chairman of <\/strong><strong>the state-owned Metallurgical Industries Holding (MIH)<\/strong> for a three-year term, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f81bdc7-b03b-4ae6-81c2-a86732f6b12e\">replacing Mohamed Al Saadawi<\/a>, who will become the acting executive managing director, the Public Enterprises Ministry said in a <a href=\"https:\/\/ent.news\/2021\/6\/Public-Enterprises-PRL.pdf\">statement (pdf)<\/a>. Al Rajhi is an engineering professor at Cairo University and holds a doctorate in metallurgy from the University of London.<\/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\/auc\/\">AUC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-audi\/\">Bank Audi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-enterprises-ministry\/\">Public Enterprises Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562720\" 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=\"562720\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/562720\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562720\" class=\"content-area-description single-story post-562720 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate3-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\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=\"562721\" 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=\"562721\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/\">\r\n                            Building violations, the Russian flight ban + GERD all get attention on the talk shows on 3 June 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Building violations, the Russian flight ban + GERD all get attention on the talk shows on 3 June 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/&title=Building violations, the Russian flight ban + GERD all get attention on the talk shows on 3 June 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=Building+violations%2C+the+Russian+flight+ban+%2B+GERD+all+get+attention+on+the+talk+shows+on+3+June+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fbuilding-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-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\/06\/03\/building-violations-the-russian-flight-ban-gerd-all-get-attention-on-the-talk-shows-on-3-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562721\" class=\"content-area-description single-story post-562721 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-aviation tag-covid-19 tag-diplomacy tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-real-estate tag-tourism tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Last night got us all nostalgic for September 2020 when building code violations <\/strong><strong>were all anybody wanted to talk about on the airwaves.<\/strong> The government\u2019s decision to approve settlement requests for people in rural areas without verifying their information first was headline news on the nation\u2019s talk shows last night. As many as 1.6 mn building code violations in rural areas are already on track to be settled with the government, which their application had been filed by their owners by the end-of-March deadline set earlier, Cabinet spokesperson Nader Saad told Yahduth Fi Masr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=mWn_Bk1KLeE\">watch, runtime: 5:07<\/a>). Local Development Ministry spokesperson Khaled Kassem shared a similar estimate on Ala Masouleety (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/542370223797523\">watch, runtime: 3:50<\/a>), and recapped the news with Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=90TQyxuufi8\">watch: 4:15<\/a>). The government had earlier moved to reduce fines in rural areas to EGP 50 per sqm to ease the burden on owners there, whose income barely meets their necessities, Saad said.<\/p>\n<p><strong>Madbouly\u2019s target to vaccinate 40% of the population by 2022 also got coverage.<\/strong> Madbouly\u2019s national target comes as the country aims to manufacture two vaccines here at home, including China\u2019s Sinovac vaccine \u2014 the first batch of which is expected to be produced by the end of this month, according to the health minister. Abiding by the current preventive measures remains paramount, even by those who received the vaccine, presidential health advisor Mohamed Awad Tag Eldin said in a phone-in to Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=2KFizYTb5Os\">watch, runtime: 5:34<\/a>).<\/p>\n<p><strong>And there was still time for GERD: <\/strong>News of Ethiopia\u2019s plans to set up a military base in the Red Sea was covered on Ala Masouleety, which questioned whether there would be a movement against Addis Ababa\u2019s unfriendly intentions, especially given its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd608692-fb14-47e3-84b2-069eb2cf119e\">recent announcement<\/a> of planning to build more than 100 dams across the country (watch, runtime: <a href=\"https:\/\/www.facebook.com\/baladtv\/videos\/6403143866366246\">10:51<\/a> | <a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/228836065382062\">3:51<\/a>).<\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562722\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562723\" 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=\"562723\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/egypt-in-the-news-on-3-june-2021\/\">\r\n                            Egypt in the News on 3 June 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/egypt-in-the-news-on-3-june-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n 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       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\/06\/03\/egypt-in-the-news-on-3-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562723\" class=\"content-area-description single-story post-562723 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-gender tag-gerd tag-human-rights tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There\u2019s not a huge amount going on in the foreign press this morning: <\/strong><a href=\"https:\/\/www.atlanticcouncil.org\/blogs\/menasource\/egypt-has-a-water-problem-and-no-its-not-only-the-gerd\/\">The Atlantic<\/a><a href=\"https:\/\/www.atlanticcouncil.org\/blogs\/menasource\/egypt-has-a-water-problem-and-no-its-not-only-the-gerd\/\">Council<\/a> looks at Egypt\u2019s growing water insecurity while <a href=\"https:\/\/sg.news.yahoo.com\/transgender-woman-battles-dignity-conservative-021305619.html\">AFP<\/a> talks to Farida Ramadan, an Egyptian transgender woman in her fifties, who talks about the legal and social issues she has faced throughout her life.<\/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\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                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-->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"562725\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/hedge-fund-assets-hit-record-high\/\">\r\n                            Hedge fund assets hit record high                        <\/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 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<\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Hedge+fund+assets+hit+record+high+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fhedge-fund-assets-hit-record-high%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\/06\/03\/hedge-fund-assets-hit-record-high\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562725\" class=\"content-area-description single-story post-562725 post type-post status-publish format-standard hentry category-planet-finance tag-aramco tag-barclayhedge tag-bonds tag-emerging-markets tag-enterpriseam tag-financial-markets tag-hedge-funds tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>Global hedge fund industry assets grew to a new all-time high of USD 4.1 tn<\/strong><strong> at <\/strong><strong>the end of March<\/strong> as a strong economic recovery, a rise in equity and commodity prices, and an unwinding of covid restrictions fuels optimism, <a href=\"https:\/\/www.cnbc.com\/2021\/06\/02\/hedge-fund-assets-soar-to-record-high-amid-boom-in-trading-profits.html\">CNBC<\/a> reports, citing figures from BarclayHedge. Hedge funds have generated more than USD 552.1 bn in income alone during the past year, with AUM surging more than 42% in the same time period.<\/p><p><strong>But the love for EM among hedgies dwindled<\/strong>, as investors pulled USD 3.8 bn out of EM funds in March despite Asia-centric funds seeing USD 5.6 bn inflows.<\/p><p><strong>Saudi Aramco is looking to finance part of its USD 75 bn dividend payout with a sukuk <\/strong><strong>issuance<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-02\/aramco-said-to-plan-bond-sale-to-help-fund-75-billion-dividend?sref=mmeFTDW1\">Bloomberg<\/a>reports, citing unnamed sources close to the matter. The company has chosen 15 banks for the sale which could come later this month, and aims to raise around USD 5 bn, the sources said. The Saudi oil giant last issued international bonds in November, when it raised USD 8 bn, after its debut USD 12 bn bond transaction in 2019.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,121<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: -6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/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 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,656<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +22.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,626<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +31.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,839<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +13.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,208<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +12.0%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,108<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +10.0%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 71.35<\/p>\n<\/td>\n<td>\n<p>+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.07<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,910.90<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 37,574<\/p>\n<\/td>\n<td>\n<p>+3.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 1.2% at today\u2019s close<\/strong> on turnover of EGP 1.69 bn (23.1% above the 90-day average). Local investors were net buyers. The index is down 6.7% YTD.<\/p><p><strong>In the green: <\/strong>Ibnsina Pharma (+3.8%), Emaar Misr (+1.4%) and Edita (+0.8%).<\/p><p><strong>In the red: <\/strong>Cleopatra Hospital (-4.1%), Talaat Moustafa Group Holding (-3.0%) and Orascom Financial Holding (-2.9%).<\/p><p><strong>Asian markets are mixed in early trading this morning<\/strong> and futures suggest that European and US markets will open in a sea of green later today.<\/p>\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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/barclayhedge\/\">BarclayHedge<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/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\/hedge-funds\/\">hedge funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562726\" 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=\"562726\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/\">\r\n                            Breakthrough in Iran nuclear talks next week?                        <\/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\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/\" 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\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/')\">\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\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/\">\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=Breakthrough in Iran nuclear talks next week?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/\">\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\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/&title=Breakthrough in Iran nuclear talks next week?\">\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=Breakthrough+in+Iran+nuclear+talks+next+week%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F03%2Fbreakthrough-in-iran-nuclear-talks-next-week%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\/06\/03\/breakthrough-in-iran-nuclear-talks-next-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562726\" class=\"content-area-description single-story post-562726 post type-post status-publish format-standard hentry category-around-the-world tag-african-union tag-around-the-world tag-enterpriseam tag-iran tag-mali tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Breakthrough in Iran nuclear talks next week? <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9429e212-c4a5-4817-a044-16275cf8ef1e\">latest round of talks<\/a> between world powers over restoring the 2015 nuclear pact appears to have made progress, paving the way for an agreement to possibly be struck at the coming round of talks starting next week, according to the EU\u2019s envoy who chaired talks in Vienna, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-nuclear-deal-parties-meet-wrap-up-latest-round-talks-2021-06-02\/\">Reuters<\/a> reported.<\/p>\n<p><strong>Or not ...:<\/strong> The UK, France and Germany cast doubt on whether an agreement is imminent, saying that while progress had been made this week, \u201cthe most difficult decisions lie ahead,\u201d the newswire reports. Officials are expected to resume talks next Thursday, 10 June, after adjourning the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e5ce3cd-1ae8-4899-b4b4-e195256a71cf\">fifth round<\/a> of talks yesterday, though the date has not yet been confirmed, two diplomats told the newswire.<\/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\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mali\/\">Mali<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562727\" 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=\"562727\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/my-morning-wfh-routine-nils-bachtler-ceo-of-orascom-financial-holding\/\">\r\n                            My Morning\/WFH Routine: Nils Bachtler, CEO of Orascom Financial Holding                        <\/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\/06\/03\/my-morning-wfh-routine-nils-bachtler-ceo-of-orascom-financial-holding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Nils Bachteler, CEO of Orascom Financial Holding (<a href=\"https:\/\/eg.linkedin.com\/in\/nils-bachtler-3a706b142\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Nils Bachtler, I\u2019m a corporate guy with an entrepreneurial spirit<\/strong>. I'm always looking for new openings and how companies I'm involved with can do things a little differently and eventually become market leaders. I'm a relatively quiet person and If I\u2019m not working I\u2019m spending time with my family.<\/p>\n<p><strong>Professionally, I\u2019m the CEO of <\/strong><strong><a href=\"http:\/\/orascomfh.com\/\">Orascom Financial Holding (OFH)<\/a><\/strong> which is a holding company established in January 2021 after we decided to demerge from Orascom Investment Holding and have a specialized entity focused on financial services. Right now, as the first CEO of OFH, I'm responsible for setting up new ventures, business development, managing the team and dealing with regulatory issues.<\/p>\n<p><strong>The entire process of setting up the company took place during the pandemic. <\/strong>That meant a lot of the communication with the Financial Regulatory Authority (FRA), legal teams, the investment bank and lawyers abroad was done via Zoom and email. Having few physical meetings was actually part of the challenge of getting such a big transaction completed. And on a personal level, you also had to deal with a lot of people close to you getting sick. My entire family (my wife and two kids) contracted covid in September so I had to go into isolation at home for three weeks while still running everything from a distance. Having said that, I think the pandemic has proven that we used to waste a lot of time in meetings. Looking back I think our productivity and efficiency actually increased.<\/p>\n<p><strong>We\u2019ve technically been back to the office since September with a flexible work schedule.<\/strong> Almost everyone is here everyday though, so I'd say we\u2019re 98% in the office. We\u2019re not having big in-person meetings, that's all still on Zoom and Teams. The OFH team currently consists of about 7-8 people, which is still a very small team relative to the size of the entity and our balance sheet, but we\u2019re trying to stay that way for now. Having a small team can be very efficient. It's comforting to know that things can be done away from the office and I'm very happy about it. A hybrid model is likely to stick with us in the future.<\/p>\n<p><strong>OFH is a listed entity operating like a startup. <\/strong>Although we\u2019re highly regulated as an entity we want to employ the creativity and agility that a startup enjoys. We currently have two major investments in listed financial services companies and our own digital payments company. One part of my day is following up, strategizing and helping those companies reach their targets. The other part involves a lot of research, looking for new opportunities and how we can expand our portfolio of assets.<\/p>\n<p><strong>We\u2019re targeting becoming the leading fintech player in the market<\/strong>, so we\u2019re setting up new startups in the fintech space and have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/364bfe75-57e3-4937-b7bb-8b2326205e78\">already announced<\/a> the launch of a digital payments company in partnership with Excel where we have more of a hands-on approach in terms of building a business, hiring teams, setting strategy and developing product roadmaps.<\/p>\n<p><strong>Getting into financial services and fintech specifically, was a pre-pandemic decision that covid-19 accelerated.<\/strong> Seeing how the market was reacting and how regulators responded to the changes unleashed by the pandemic encouraged us to speed up the process. But I think the appetite was there from the very beginning because of the size of Egypt\u2019s population and its demographics. Egypt has been a very attractive market, regardless of the pandemic.<\/p>\n<p><strong>My day usually starts at 6 am:<\/strong> I spend the first 30 minutes having coffee while going through emails and reading the news, which is just about everything including Enterprise. I work out five days a week from 7-8 am and try to make it into the office by 9:30 am at the latest. I spend the first hour and a half getting things done on my own, catching up on more email and planning my day. I like to set aside at least 20 minutes to plan my day with a to-do list. Starting 11 am I get into the daily grind of meetings, calls and ad hoc issues that need my attention. I usually leave the office between 6 and 7 pm so I have enough time to spend an hour or two with my two kids before they go to bed. At least twice a week I like to attend their swimming or football practice. Once they\u2019re asleep I have about an hour and a half to wind down in front of the TV or spend time talking to my wife.<\/p>\n<p><strong>Weekends are entirely dedicated to the family, if there\u2019s no work<\/strong>. My involvement with companies based in Europe sometimes means I need to take meetings on Fridays but usually it never takes up more than two-three hours of my day.<\/p>\n<p><strong>Lately I've been trying to read more business books<\/strong>. <a href=\"https:\/\/www.goodreads.com\/book\/show\/4898.Blue_Ocean_Strategy\">Blue Ocean Strategy<\/a> is a good one that gives you guidelines on how to think and maneuver through business challenges. <a href=\"https:\/\/www.goodreads.com\/book\/show\/38743564-billion-dollar-whale\">Bn USD Whale<\/a> by Bradley Hope and Tom Wright is another interesting one. As for TV series I prefer to watch things that you can switch off to: Game of Thrones, Suits and Seinfeld are some personal favorites.<\/p>\n<p><strong>The best piece of advice I was given, at the very start of my career, has been \u201chave patience.\u201d<\/strong> By nature I'm a very impatient person, not rushing things especially in my work and life is something very important I need to better incorporate into my life.<\/p>\n<p><strong>I'm looking forward to soon resume spending my days without a mask and travelling<\/strong>. I'm half German, half Egyptian and my family lives in Germany at the moment. So travelling and reconnecting with my second home would be the priority on the personal side.<\/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\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nils-bachtler\/\">Nils Bachtler<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/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=\"562729\" 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\/06\/03\/your-essential-business-calendar-on-3-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562729\" class=\"content-area-description single-story post-562729 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>3-6 June (Thursday-Monday): Egypt is hosting the <a href=\"https:\/\/www.gymnastics.sport\/site\/events\/detail.php?id=16598#loaded\">FIG World Challenge Cup<\/a> in Artistic Gymnastics.<\/p>\n<p>7 June (Monday): British Egyptian Business Association hosts an event featuring Oil Minister Tarek El Molla.<\/p>\n<p>14 June (Monday): Egypt 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>20 June (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/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. The Big 5 Egypt Impact Awards will also be taking place at the event on 27 June.<\/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 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>2-4 August (Monday-Wednesday): Egypt is hosting the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/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\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":562701,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562700","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1d0d0f25-0a83-4027-8ba6-393917d11bfa","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/44.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>Abu Dhabi\u2019s sovereign wealth fund could purchase a stake in Juhayna - 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\/abu-dhabis-sovereign-wealth-fund-could-purchase-a-stake-in-juhayna\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Dhabi\u2019s sovereign wealth fund could purchase a stake in Juhayna\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/abu-dhabis-sovereign-wealth-fund-could-purchase-a-stake-in-juhayna\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:49:08+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/44.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\/abu-dhabis-sovereign-wealth-fund-could-purchase-a-stake-in-juhayna\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/abu-dhabis-sovereign-wealth-fund-could-purchase-a-stake-in-juhayna\/\",\"name\":\"Abu Dhabi\u2019s sovereign wealth fund could purchase a stake in Juhayna - 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