{"id":562820,"date":"2021-06-08T04:00:13","date_gmt":"2021-06-08T04:00:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562820"},"modified":"2025-12-16T03:51:54","modified_gmt":"2025-12-16T03:51:54","slug":"more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/","title":{"rendered":"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road"},"content":{"rendered":"<section id=\"562822\" 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=\"562822\">\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\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/\">\r\n                            THIS MORNING: Final vote on the sovereign sukuk bill today? Plus: The long road to a global tax agreement, Bezos is going to space.                        <\/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\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/\" 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\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/')\">\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\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/\">\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: Final vote on the sovereign sukuk bill today? Plus: The long road to a global tax agreement, Bezos is going to space.&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/\">\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\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/&title=THIS MORNING: Final vote on the sovereign sukuk bill today? Plus: The long road to a global tax agreement, Bezos is going to space.\">\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+Final+vote+on+the+sovereign+sukuk+bill+today%3F+Plus%3A+The+long+road+to+a+global+tax+agreement%2C+Bezos+is+going+to+space.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fthis-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space%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\/08\/this-morning-final-vote-on-the-sovereign-sukuk-bill-today-plus-the-long-road-to-a-global-tax-agreement-bezos-is-going-to-space\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562822\" class=\"content-area-description single-story post-562822 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-amazon tag-blue-origin tag-enterpriseam tag-g7 tag-house-of-representatives tag-jeff-bezos tag-sovereign-sukuk-act tag-space tag-sukuk tag-tax 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, everyone, and welcome to another brisk news morning. <\/strong>What appears to be a continued strong rollout of our vaccination program leads today. If you\u2019re thinking long-term, suggest having a good read through our Going Green <strong>interview with French Ambassador St\u00e9phane Romatet<\/strong> as well as the piece on Russia\u2019s <strong>wannabe alternative to the Suez Canal<\/strong>.<\/p><p><strong>EDITOR\u2019S NOTE: EnterprisePM will be taking a publication holiday this afternoon<\/strong> so we can attend to some housekeeping and plug away at some long-term stuff about which we\u2019re really excited. EnterpriseAM and EnterprisePM will be back in your inboxes at their customary times tomorrow.<\/p><p><strong>THE BIG STORY INTERNATIONALLY- Jeff Bezos is going to space<\/strong>, <a href=\"https:\/\/www.instagram.com\/p\/CP0MSOqnYEo\/?utm_source=ig_embed&amp;ig_rid=2f20d7bc-0352-4153-8644-a4c3e365a137\">announcing<\/a><a href=\"https:\/\/www.instagram.com\/p\/CP0MSOqnYEo\/?utm_source=ig_embed&amp;ig_rid=2f20d7bc-0352-4153-8644-a4c3e365a137\">yesterday<\/a> that he will be hopping aboard his company Blue Origin\u2019s first mission next month. The 20 July flight will feature an 11-minute trip to suborbital space that will reach an altitude of about 100 kms. Bids for a seat on the flight have gone as high as USD 2.8 mn. <strong>The story is everywhere in the foreign press <\/strong>from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-07\/bezos-says-he-ll-go-to-space-next-month-on-blue-origin-flight?srnd=premium-middle-east\">Bloomberg<\/a> and the <a href=\"https:\/\/apnews.com\/article\/technology-business-9ac5c4668d9ff8d209889ca089572571\">Associated Press<\/a> to <a href=\"https:\/\/edition.cnn.com\/2021\/06\/07\/tech\/jeff-bezos-space-blue-origin-new-shepard-flight-scn\/index.html\">CNN<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/defbe912-ceb9-4017-a215-16d214484597\">Financial Times<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/06\/07\/jeff-bezos-to-fly-on-blue-origin-first-passenger-flight-in-july.html\">CNBC<\/a>.<\/p><p><strong>*** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>We talked to Openner\u2019s Ahmed Elsherif about what the VC firm has up its sleeve for Egypt. <\/strong>The VC is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84934b97-6f95-48c1-ad9e-be81d747c493\">on the lookout<\/a> for stakes in as many as 50 tech startups, with USD 5 mn earmarked for Egypt at an initial stage<\/li>\n<li><strong>UAE\u2019s Opontia will soon set up shop in Egypt and has USD 20 mn to invest. <\/strong>Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e5c07e6-d79e-4d2f-a8b8-7c4d831a2d4c\">could receive<\/a> some of the USD 20 mn Riyadh-based consumer holding startup Opontia has earmarked for regional acquisitions.<\/li>\n<li><strong>JUFO signals to the market that its financials are sound: <\/strong>Juhayna Food Industries has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/087fd5c8-6743-4db4-953f-c80b280ffd77\">released a snapshot<\/a> of its unaudited FY2020 earnings in a move likely meant to reassure investors after the company was placed on the EGX\u2019 \u2018D-list\u2019 of non-compliant companies last week for missing the 1 June deadline to report FY2020 results.<\/li>\n<\/ul><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>A delegation of 18 French companies are currently in town<\/strong> to meet Egyptian private sector firms and international financial institutions in an event <a href=\"https:\/\/ent.news\/2021\/6\/CP-English-version.pdf\">organized<\/a> by Business France. The visit wraps up tomorrow.<\/p><p><strong>The long-awaited Sovereign Sukuk Act could get a final nod by the House as early <\/strong><strong>as today<\/strong>, paving the way for the issuance of our maiden sharia-compliant bonds on local and international debt markets, Rep. Yasser Omar told <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-nears-issuing-sukuk-bonds-bill-moves-through-parliament-2021-06-07\/\">Reuters<\/a>.<\/p><p><strong>The worst case scenario:<\/strong> A final vote on the bill, which earned preliminary approval from the House on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2205dce0-274d-4586-84a5-5a7e9c7c46d9\">Sunday<\/a>, could be held later this month before the start of the new fiscal year, Omar said. It would then be handed over to the president to be signed into law. Once ratified, the executive regulations for the bill are expected to be issued within three months.<\/p><p><strong>The ministry is eager to get the ball rolling<\/strong>, saying in <a href=\"https:\/\/bit.ly\/2RAmgWa\">a statement<\/a> yesterday that it will start working on its first issuance as soon as the legislation takes effect. The exact timing and size of the planned offering remains unknown.<\/p><p><strong>The bill sets a framework for regulating Egypt\u2019s sovereign sukuk issuances<\/strong>, including\/ governing how sharia-compliant debt is securitized and traded.<\/p><p><strong>Need a refresher on how sukuk work?<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8943e6f1-9b79-46d8-815d-d76d91a75de4\">We\u2019ve got you covered<\/a>.<\/p><hr class=\"grey-line\"><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Don\u2019t celebrate (or gnash your teeth over) the global corporate tax<\/strong><strong> agreement just yet: There\u2019s a <\/strong><strong>long way to go.<\/strong> An agreement by G7 nations to introduce a 15% global minimum corporate tax rate still has a \u201clong road\u201d ahead of it, according to experts speaking to <a href=\"https:\/\/www.cnbc.com\/2021\/06\/07\/global-tax-reform-deal-will-take-time-negotiation-and-cooperation.html\">CNBC<\/a>. Finance ministers are already facing criticism that the proposal isn\u2019t ambitious enough and that more countries will need to come on board if the proposal is going to make a difference.<\/p><p><strong>The critics have a point:<\/strong> Amazon, one of the largest companies in the world, could avoid having to pay more tax thanks to a part of the agreement that forces only companies with a 10%+ NP margin to comply, according to <a href=\"https:\/\/www.theguardian.com\/technology\/2021\/jun\/06\/global-g7-deal-may-let-amazon-off-hook-on-tax-say-experts\">the Guardian<\/a>. <a href=\"https:\/\/www.bbc.com\/news\/world-57372682\">Some campaigners say<\/a> that a minimum rate would have to be higher to make a difference, while others have criticized the agreement for allowing the continued existence of tax havens.<\/p><p><strong>Then there\u2019s the problem of implementation:<\/strong> The plan, agreed in principle <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f40e85f-6132-4035-a552-9b35ce8f655e\">last weekend<\/a>, only involves Canada, France, Germany, Italy, Japan, the UK, the US and the EU, and would require more countries and closer coordination to properly close tax loopholes enjoyed by multinationals.<\/p><p><strong>The long road: <\/strong>The G7-backed agreement will need confirmation at a meeting of G20 members in July. It will then require even broader negotiations at the OECD, a process French Finance Minister Bruno le Maire said <strong>might take two to three years. <\/strong><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p><p><strong>Inflation data for May<\/strong> will be released this week.<\/p><p><strong>Egypt <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151259670377795\">is hosting<\/a><\/strong><strong> the <\/strong><strong><a href=\"https:\/\/www.unido.org\/our-focus\/advancing-economic-competitiveness\/investing-technology-and-innovation\/investment-and-technology\/africa-investment-promotion-agency-network-afripanet\">Africa Investment Promotion Agency Network\u2019s<\/a><\/strong><strong> first forum<\/strong> at the end of this week. The four-day event kicks off on Friday.<\/p><p><strong>The Egypt Green Economy Forum takes place next Monday<\/strong>, 14 June.<\/p><p><strong>The Central Bank of Egypt<\/strong> will meet Thursday, 17 June to review rates.<\/p><p>Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>We sit down with St\u00e9phane Romatet, French ambassador to Egypt, to discuss France\u2019s support for Egypt\u2019s green energy plans. French investment in Egypt has grown from an estimated EUR 3 bn in 2017 to EUR 5 bn today. And renewables investment \u2014 currently comprising some EUR 500 mn \u2014 is becoming an increasingly important focus. Our conversation tackles France\u2019s ambitions to partner with Egypt on green hydrogen \u2014 where French companies are eyeing more renewables investment in Egypt \u2014 and the importance of resolving the feed-in tariff issue.<\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blue-origin\/\">Blue Origin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jeff-bezos\/\">Jeff Bezos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-sukuk-act\/\">Sovereign Sukuk Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/space\/\">space<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"562823\" 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=\"562823\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/562823\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562823\" class=\"content-area-description single-story post-562823 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\/6\/SOMA-ENTERPRISE-SAIL-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=\"562824\" 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=\"562824\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/\">\r\n                            More Chinese jabs have arrived + Is the UK claiming a Thai variant came through Egypt?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More Chinese jabs have arrived + Is the UK claiming a Thai variant came through Egypt?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/&title=More Chinese jabs have arrived + Is the UK claiming a Thai variant came through Egypt?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+Chinese+jabs+have+arrived+%2B+Is+the+UK+claiming+a+Thai+variant+came+through+Egypt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fmore-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/more-chinese-jabs-have-arrived-is-the-uk-claiming-a-thai-variant-came-through-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562824\" class=\"content-area-description single-story post-562824 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covax tag-covid-19 tag-enterpriseam tag-g7 tag-johnson-johnson tag-sinovac tag-vaccines 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-01\"><\/a> <strong>Egypt took receipt yesterday of a 500k-dose shipment of China\u2019s Sinovac<\/strong> <strong>vaccines<\/strong>, coming almost a week before our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1ca16c6-9177-455b-8d80-d7d57b1328db\">first batch<\/a> of locally-manufactured Sinovac shots is finished on 15 June, the Health Ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151408643696231\">a statement<\/a>. Minister Hala Zayed had said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/edf2a649-5f56-4ac0-9ac6-42c25d9a82be\">last week<\/a> that this shipment will be followed by a separate 500k dose batch on 16 June. Sinovac is one of two vaccines Egypt will manufacture, aiming to produce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">the first 3 mn doses<\/a> as early as this month through state-owned Vacsera.<\/p>\n<p><strong>A 1 mn-dose shipment of Sinopharm jabs will arrive in the country on Sunday<\/strong>, 13 June, Health Ministry spokesperson Khaled Megahed told Al Hayah TV last night (<a href=\"https:\/\/www.youtube.com\/watch?v=vY-tsDoJ3vA\">watch, runtime: 11:11<\/a>).<\/p>\n<p><strong>As many as 4 mn shots of other covid vaccines are set to land here at home before the <\/strong><strong>month is out<\/strong>, including a 1.9 mn doses of Oxford \/ AstraZeneca through the Gavi \/ Covax scheme that was expected to arrive in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8cccde8-ccde-47a6-8e76-b86ec514dcd5\">the first week of June<\/a>. Johnson & Johnson is also sending 20 mn doses of its single-shot jab. These doses would be separate from the shots we could be receiving through Covax and from the 4 mn doses that are said to be delivered in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">4Q2021<\/a>, which will likely be received through <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a6d002d-541a-4e41-a268-0ae1c275a482\">the African Union<\/a>.<\/p>\n<p><strong>Next up on Egypt\u2019s vaccination priority list: Tourism workers in Luxor + Aswan<\/strong>. The ministry plans to begin administering covid-19 shots to tourism workers in the tourist hotspots on 1 July, Zayed said in a phone interview with El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=q8hhPBNhMUE\">watch, runtime: 1:28<\/a>). This comes after the government concluded the vaccination of all Red Sea tourism workers in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae9c4d5e-fbc0-4f3f-8b63-1ee6f6117c76\">the last week of May<\/a>.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/398846021666016\">reported<\/a><\/strong><strong> 782 new covid-19 infections yesterday<\/strong>, down from 801 the day before. Egypt has now disclosed a total of 268,754 confirmed cases of covid-19. The ministry also reported 47 new deaths, bringing the country\u2019s total death toll to 15,399.<\/p>\n<p><strong>Perhaps this is why the UK <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d984c1-3825-437c-b742-2fce3cf21689\">put us on its red list<\/a><\/strong><strong>:<\/strong> According to the UK government, British health authorities are investigating a variant of the coronavirus that originated in Thailand but <a href=\"https:\/\/www.gov.uk\/government\/news\/confirmed-cases-of-covid-19-variants-identified-in-uk\">entered<\/a><a href=\"https:\/\/www.gov.uk\/government\/news\/confirmed-cases-of-covid-19-variants-identified-in-uk\">the country from Egypt<\/a>. The idea was strongly denied by a member of the Health Ministry\u2019s covid committee on Kelma Akhira last night, who claimed that Egypt has so far not detected any of the more transmissible and virulent covid variants.<\/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\/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\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/johnson-johnson\/\">Johnson &amp; Johnson<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"562825\" 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=\"562825\">\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\">Telecoms<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/hello-cash-cow\/\">\r\n                            Hello, cash cow                        <\/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\/08\/hello-cash-cow\/\" 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\/08\/hello-cash-cow\/')\">\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\/08\/hello-cash-cow\/\">\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=Hello, cash cow&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/hello-cash-cow\/\">\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\/08\/hello-cash-cow\/&title=Hello, cash cow\">\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=Hello%2C+cash+cow+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fhello-cash-cow%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\/08\/hello-cash-cow\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/103.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562826\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/hello-cash-cow\/103-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/103.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"103.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/103.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/103.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562825\" class=\"content-area-description single-story post-562825 post type-post status-publish format-standard has-post-thumbnail hentry category-telecoms tag-cit tag-enterpriseam tag-telecom-egypt tag-telecoms tag-vodafone-egypt tag-vodafone-group 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>Vodafone Egypt will make a one-off EGP 10 bn dividend payout this year<\/strong> as part of a modified shareholder agreement signed by Vodafone Group and Telecom Egypt (TE) yesterday, TE said in <a href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/144\/Telecom-Egypt-and-Vodafone-Group-sign-a-modified-shareholders-agreement\">a statement<\/a>. This includes the EGP 2 bn cash dividend Vodafone Egypt made <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d7613c8-7661-4801-b57e-9e3bae887bb7\">earlier in the year<\/a>, EGP 900 mn of which went to TE. The remaining EGP 8 bn will be paid out later in 2021.<\/p>\n<p><strong>And there are permanent changes to dividends going forward:<\/strong> Vodafone Egypt will pay out a minimum 60% of its cashflow in dividends in the future, according to the new terms of the agreement.<\/p>\n<p><strong>What else is changing? <\/strong><sup><\/sup><sup><\/sup>Vodafone Group now has the right to transfer its 55% stake in Vodafone Egypt within the wider group, while TE has received \u201ccertain enhanced minority rights including access to information.\u201d<\/p>\n<p><strong>Advisors:<\/strong> Al Tamimi & Company advised TE in its negotiations with Vodafone Group, the law firm <a href=\"https:\/\/ent.news\/2021\/6\/Telecom-Egypt-Vodafone-Group-Press-Release-EN-ZM-002.pdf\">said (pdf)<\/a>.<\/p>\n<p><strong>What\u2019s going on here<\/strong><strong>?<\/strong> The law firm said that the agreement has been three years\u2019 in the making, and aims to promote \u201cmutual protection \u2026 and exit rights\u201d for both shareholders. <strong>Vodafone, TE and Al Tamimi were all unavailable for comment<\/strong> on the new agreement.<\/p>\n<p><strong>This comes six months after Saudi Telecom\u2019s (STC) bid to buy Vodafone Group\u2019s stake <\/strong><strong>ended in failure.<\/strong> Vodafone Egypt was the subject of a drawn-out acquisition bid from STC, which was in talks with Vodafone Group to acquire its majority stake for USD 2.4 bn for most of last year. Negotiations <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">ended without an agreement<\/a> in December for unknown reasons.<\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms\/\">TELECOMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-group\/\">Vodafone Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562827\" 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=\"562827\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/\">\r\n                            Ahmed Ezz takes direct controlling stake in Ezz Steel                        <\/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\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/\" 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\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/')\">\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\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/\">\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=Ahmed Ezz takes direct controlling stake in Ezz Steel&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/\">\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\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/&title=Ahmed Ezz takes direct controlling stake in Ezz Steel\">\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=Ahmed+Ezz+takes+direct+controlling+stake+in+Ezz+Steel+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fahmed-ezz-takes-direct-controlling-stake-in-ezz-steel%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\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/105.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562828\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/ahmed-ezz-takes-direct-controlling-stake-in-ezz-steel\/105-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/105.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"105.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/105.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/105.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562827\" class=\"content-area-description single-story post-562827 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-ahmed-ezz tag-enterpriseam tag-ezz-steel tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Ahm<\/strong><strong>ed Ezz now directly owns a controlling stake in Ezz Steel<\/strong> after purchasing a 33.4% stake in the company from El Ezz Group Holding for Industry and Investment, according to <a href=\"https:\/\/ent.news\/2021\/6\/06-2021.pdf\">an EGX disclosure (pdf)<\/a>. The steel magnate, who owns almost 100% of Ezz Holding, now directly holds a 65.7% stake in Ezz Steel after purchasing almost 182 mn global depository receipts from the affiliated company. This comes less than a month after Ezz <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af23db51-76ca-4455-9f98-db2b92057621\">purchased a 5.6% stake<\/a> in Ezz Steel, again from Ezz Holding.<sup><\/sup><\/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\/ahmed-ezz\/\">Ahmed Ezz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562829\" 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=\"562829\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/562829\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562829\" class=\"content-area-description single-story post-562829 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\/6\/IDG-Ad-Week-3-Logistics-1600-x-1200.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>Warehousing facilities at a secure, smart industrial park <\/strong>that can accommodate your needs and place you at the center of Egypt\u2019s North Coast is why you should choose e<sup>2<\/sup> Alamein this summer. Between advanced, customizable properties that you can lease, our prime location near vital North Coast spots, and our ability to facilitate your licensing and permissions, you can enjoy the benefits of high quality and secure warehousing while saving the costs of long-distance shipping. 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=\"562830\" 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=\"562830\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\">\r\n                            TMG does another JV with state-owned banks                        <\/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\/08\/tmg-does-another-jv-with-state-owned-banks\/\" 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\/08\/tmg-does-another-jv-with-state-owned-banks\/')\">\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\/08\/tmg-does-another-jv-with-state-owned-banks\/\">\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=TMG does another JV with state-owned banks&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/\">\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\/08\/tmg-does-another-jv-with-state-owned-banks\/&title=TMG does another JV with state-owned banks\">\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=TMG+does+another+JV+with+state-owned+banks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Ftmg-does-another-jv-with-state-owned-banks%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\/08\/tmg-does-another-jv-with-state-owned-banks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562831\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/tmg-does-another-jv-with-state-owned-banks\/106-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"106.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/106.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562830\" class=\"content-area-description single-story post-562830 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-banque-misr tag-enterpriseam tag-real-estate tag-talaat-moustafa-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The National Bank of Egypt (NBE), Banque Misr and Talaat Moustafa Group (TMG) <\/strong><strong>have established a new real estate joint venture<\/strong>, dubbed Rawasi, with paid-in capital of EGP 200 mn, NBE Deputy Chairman Yehia Abou El Fettouh told <a href=\"https:\/\/bit.ly\/3cqfc5H\">Masrawy<\/a>.<\/p>\n<p><strong>What\u2019s in the pipeline?<\/strong> The new company obtained a EGP 9 bn joint loan from both banks to develop assets in TMG\u2019s Madinaty compound, Abou El Fettouh said.<\/p>\n<p><strong>This is the second real estate JV TMG has set up with NBE and Banque Misr: <\/strong>In late 2020, TMG established <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d57dbb2-8570-4788-8d40-4bfd44e9ac06\">its first JV<\/a> with both state-owned banks to develop the pair's residential lands worth EGP 5 bn in TMG\u2019s Madinaty and Rehab compounds. Four other banks later bought into the JV<sup><\/sup><sup><\/sup>, including Suez Canal Bank, Export Development Bank of Egypt, United Bank and the Egyptian Gulf Bank. CIB and TMG also established in 1Q2021 a real estate SPV, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d925b84-7945-447e-a88e-c1246d9bbd27\">dubbed TCA Properties<\/a>, to acquire, sell and lease commercial properties.<\/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\/banque-misr\/\">Banque Misr<\/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\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562832\" 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=\"562832\">\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\">Suez Canal<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/\">\r\n                            The Suez Canal could face competition from Russia in three years                        <\/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\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/\" 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\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/')\">\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\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/\">\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 Suez Canal could face competition from Russia in three years&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/\">\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\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/&title=The Suez Canal could face competition from Russia in three years\">\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+Suez+Canal+could+face+competition+from+Russia+in+three+years+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fthe-suez-canal-could-face-competition-from-russia-in-three-years%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\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/107.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562833\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/the-suez-canal-could-face-competition-from-russia-in-three-years\/107-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/107.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"107.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/107.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/107.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562832\" class=\"content-area-description single-story post-562832 post type-post status-publish format-standard has-post-thumbnail hentry category-suez-canal tag-energy tag-enterpriseam tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Russia could be mainstreaming its Suez Canal-alternative shipping route in 2024.<\/strong> Russian energy firm Rosneft is looking to start shipping oil products from its planned megaproject, Vostok Oil, through the Northern Sea Route in three years\u2019 time, <a href=\"https:\/\/www.reuters.com\/business\/energy\/rosneft-begins-hunt-contractors-massive-vostok-oil-project-2021-06-07\/\">Reuters<\/a> reports. The energy project, which would have an average 6.2 bn tonnes of oil in resources, would <strong>challenge the Suez Canal by cutting travel distances between Europe and Asia<\/strong>. Vostok Oil is one of Russia's biggest oil projects, comparable in size with the exploration of West Siberia in the 1970s and the US Bakken oil region over the past decade.<\/p>\n<p><strong>Moscow has <\/strong><strong><a href=\"https:\/\/www.reuters.com\/article\/us-egypt-suezcanal-russia-arctic\/suez-canal-debacle-shows-value-of-northern-sea-route-russia-says-idUSKBN2BL0X0\">already tried to capitalize<\/a><\/strong><strong> on the Ever Given debacle<\/strong>, claiming that the six-day blockage in March demonstrated that the Northern Sea Route is more reliable and safe than Suez. Russia <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/23\/suez-canal-revenues-under-threat-as-russia-looks-to-step-up-arctic-shipping-route\/\">said previously<\/a> that it plans to make the route viable year-round (rather than only between July and October) by 2030, and that it could cover ins. for commercial shippers taking on risks of possible supply disruptions.<\/p>\n<p><strong>Russia isn\u2019t our only competitor:<\/strong> Israel and the UAE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a0c6f0c-5606-4356-bddb-7fd353cac8d2\">are in talks<\/a> to create a land bridge between the two countries to ship Emirati oil through Israel to Europe, bypassing the Suez Canal. Chairman of the Suez Canal Authority Osama Rabie has suggested that the project poses a national security risk to Egypt. Nearly 66% of oil sent from the GCC to western countries is shipped through the Suez Canal or the Sumed pipeline linking Alexandria to the Red Sea.<\/p>\n<p><strong>Are Arctic routes really competitors? <\/strong>The Northern Sea Route (NSR) and the Northwest <sup><\/sup>Passage both promise faster shipping times, but face a range of limitations compared to the Suez Canal. The largest ships that can run through the NSR \u2014 so-called Arcticmax ships \u2014 can carry less than a fifth of the 25k shipping containers that the biggest ships to transit the Suez Canal can carry. The weather can be very challenging, the challenges to navigation numerous, and there\u2019s a lot less infrastructure when things go wrong, from rescue infrastructure to recovery services. Check out <a href=\"https:\/\/globalriskinsights.com\/2018\/02\/risks-limits-northern-sea-route\/\">The drawbacks of Arctic shipping<\/a> in Global Risk Insights, <a href=\"https:\/\/www.maritime-executive.com\/editorials\/interview-challenges-and-opportunities-of-the-northern-sea-route#:~:text=As%20anticipated%2C%20the%20most%20challenging,severe%20hummocking%20and%20ice%20pressure.\">Challenges and [upsides] of the Northern Sea Route<\/a> in the Maritime Executive and this piece from 2015 in the <a href=\"https:\/\/link.springer.com\/article\/10.1007\/s12198-015-0158-6\">Journal of Transportation Security<\/a> as starting points.<\/p>\n<p><strong>Suez Canal revenues are an important source of hard currency for Egypt<\/strong>, bringing in USD 5.8 bn in FY2019-2020.<sup><\/sup><\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562834\" 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=\"562834\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/\">\r\n                            Microbuses to be banned from the Ring Road this year                        <\/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\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/\" 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\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/')\">\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\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/\">\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=Microbuses to be banned from the Ring Road this year&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/\">\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\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/&title=Microbuses to be banned from the Ring Road this year\">\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=Microbuses+to+be+banned+from+the+Ring+Road+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fmicrobuses-to-be-banned-from-the-ring-road-this-year%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\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/108.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562835\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/microbuses-to-be-banned-from-the-ring-road-this-year\/108-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/108.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"108.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/108.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/108.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562834\" class=\"content-area-description single-story post-562834 post type-post status-publish format-standard has-post-thumbnail hentry category-transport tag-enterpriseam tag-infrastructure tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Ring Road is going to become slightly less chaotic: <\/strong>Microbuses will be banned from driving the Ring Road later this year when work to expand the capital\u2019s most important freeway wraps up this December, head of the General Authority for Roads and Bridges Hossam El Din Moustafa said Sunday in a phone-in to Al Hadath Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=yokMtIG2heU\">watch, runtime: 5:05<\/a>).<\/p>\n<p><strong>Hello BRT:<\/strong> Buses that will eventually operate under the proposed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/710bff61-3ec2-4b91-a2ae-45d6c80cc2bc\">bus rapid transit (BRT) system<\/a> will replace microbuses as the main mode of public transport on the Ring Road, which will see buses run regular routes with designated stops at intersections, Moustafa said. The system is hoped to ease traffic congestion as well as reduce the use of private cars and on-road parking of microbuses.<\/p>\n<p><strong>But what about intercity travel?<\/strong> Moustafa didn\u2019t disclose whether the microbus ban would extend to vehicles making trips outside of Cairo.<\/p>\n<p><strong>A BRT is more than just buses:<\/strong> A consortium of local and international firms \u2014 led by French public transport company TransDev and including Orascom, Mwasalat Misr and MCV Group \u2014 last month agreed to study the proposed system, which would include the buses, an electronic ticketing system, pedestrian crossings, bus stops, and information services. BRTs in other countries allocate designated lanes for buses, allow commuters to purchase tickets ahead of the trip, and feature platform-level boarding for ease of access.<\/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\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562836\" 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=\"562836\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/memphis-and-marsa-alam-have-new-management\/\">\r\n                            Memphis and Marsa Alam have new management                        <\/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\/08\/memphis-and-marsa-alam-have-new-management\/\" 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\/08\/memphis-and-marsa-alam-have-new-management\/')\">\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\/08\/memphis-and-marsa-alam-have-new-management\/\">\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=Memphis and Marsa Alam have new management&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/memphis-and-marsa-alam-have-new-management\/\">\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\/08\/memphis-and-marsa-alam-have-new-management\/&title=Memphis and Marsa Alam have new management\">\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=Memphis+and+Marsa+Alam+have+new+management+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fmemphis-and-marsa-alam-have-new-management%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\/08\/memphis-and-marsa-alam-have-new-management\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562836\" class=\"content-area-description single-story post-562836 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Marsa Alam Tourism Development <\/strong>has appointed <strong>Shahinaz Salem <\/strong>as its new chairperson and managing director, the company announced in a <a href=\"https:\/\/ent.news\/2021\/6\/Marsa-Alam-Appointment.pdf\">statement (pdf)<\/a>. Salem previously served as the <a href=\"https:\/\/www.marketscreener.com\/business-leaders\/Shahinaz-Mustafa-0D6JLX-E\/biography\/\">chair<\/a> of Al Ahram for Printing and Packaging.<\/p>\n<p><strong>Memphis Pharma and Chemical Industries <\/strong>has appointed <strong>Essam Sadek<\/strong> as its non-executive chairman to replace Abla Hassan, who will now act as the company\u2019s executive director, the company said in a <a href=\"https:\/\/ent.news\/2021\/6\/Memphis-Pharma-New-Appointment.pdf\">statement (pdf)<\/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\/moves\/\">moves<\/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=\"562837\" 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=\"562837\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/562837\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562837\" class=\"content-area-description single-story post-562837 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-Estate1-1600px.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=\"562838\" 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=\"562838\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/\">\r\n                            VAT on delivery fees, covid + an extended interview with Mohamed Maait                        <\/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\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/\" 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\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/')\">\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\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/\">\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=VAT on delivery fees, covid + an extended interview with Mohamed Maait&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/\">\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\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/&title=VAT on delivery fees, covid + an extended interview with Mohamed Maait\">\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=VAT+on+delivery+fees%2C+covid+%2B+an+extended+interview+with+Mohamed+Maait+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fvat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait%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\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562838\" class=\"content-area-description single-story post-562838 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-mohamed-maait tag-vat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Covid once again dominated proceedings on the nation\u2019s talk shows last night:<\/strong> We have coverage on the night\u2019s events in this morning\u2019s Covid Watch, above.<\/p>\n<p><strong>The big business-relevant stories of the night: <\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2205dce0-274d-4586-84a5-5a7e9c7c46d9\">introduction of VAT on online delivery services<\/a><\/strong><strong> got attention.<\/strong> All restaurants and businesses with more than EGP 500k in annual revenues are now charging and remitting VAT on online delivery services, under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2205dce0-274d-4586-84a5-5a7e9c7c46d9\">amendments<\/a> to the executive regulations on the VAT Act, effective since last Thursday. Kelma Akhira\u2019s Lamees El Hadidi wondered whether small businesses that don\u2019t have to file VAT returns could charge customers the 14% duty and keep the money for themselves (<a href=\"https:\/\/www.youtube.com\/watch?v=C3KN__VxmpQ\">watch, runtime: 4:54<\/a>). Director of taxpayer services at the Egyptian Tax Authority Mohsen El Gayar, however, said that the changes will only impact individual shops and traders who were previously not required to collect and remit VAT on delivery services under the original VAT Act.<\/p>\n<p><strong>Elsewhere:<\/strong> Finance Minister Mohamed Maait told Ala Mas\u2019ouleety in an extended, policy-light interview how Egypt has recovered from potential bankruptcy in 2014 to being an economically prosperous country today. You can watch the entire interview here (<a href=\"https:\/\/www.facebook.com\/baladtv\/videos\/499286641380871\">watch, runtime: 35:32<\/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\/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\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562839\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4t75i6l\" data-v=\"4\" data-block-id=\"4t75i6l\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4t75i6l-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4t75i6l-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-t7smdip\" data-v=\"4\" data-block-id=\"t7smdip\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-t7smdip-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-t7smdip-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-79sluy1\" data-v=\"4\" data-block-id=\"79sluy1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-79sluy1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-79sluy1-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-afic69j\" data-v=\"4\" data-block-id=\"afic69j\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-afic69j-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-afic69j-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562840\" 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=\"562840\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/\">\r\n                            Egypt\u2019s growing diplomatic leadership in focus in the foreign press                        <\/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\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/\" 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\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/')\">\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\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s growing diplomatic leadership in focus in the foreign press&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/\">\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\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/&title=Egypt\u2019s growing diplomatic leadership in focus in the foreign press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+growing+diplomatic+leadership+in+focus+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fegypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press%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\/08\/egypts-growing-diplomatic-leadership-in-focus-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562840\" class=\"content-area-description single-story post-562840 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-diplomacy tag-enterpriseam tag-israel tag-palestine tag-politics tag-security tag-social-media tag-twitter wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Politics is the flavour of the morning in the foreign press: <\/strong><a href=\"https:\/\/thehill.com\/opinion\/international\/556939-egypts-leadership-emerges-again-in-brokering-middle-east-stability\">The Hill<\/a> says that Egypt is emerging as an influential powerbroker in the region, coming off diplomatic achievements in Gaza, Libya and Syria. <a href=\"https:\/\/sputniknews.com\/middleeast\/202106071083088031-as-israel-prepares-to-swear-in-new-government-what-do-egypt-and-jordan-expect\/\">Sputnik<\/a> suggests that Egyptian diplomats are looking at political developments in Israel with pessimism, expecting a government led by far-right leader Naftali Bennett to make resolving the conflict with Palestine even more difficult.<\/p>\n<p><strong>Also getting attention:<\/strong><\/p>\n<ul>\n<li><strong>An anti-Qatar hashtag was trending on Twitter in Egypt last Saturday <\/strong>\u2014 on the fourth anniversary of the 2017 blockade \u2014 with users criticizing the Gulf country. (<a href=\"https:\/\/www.dohanews.co\/anti-qatar-hashtag-trends-in-egypt-on-blockade-anniversary\/\">Doha News<\/a>)<\/li>\n<li><strong>Bedouins find peace in Sinai's solitude:<\/strong> Bedouins have held tight to their land across Sinai in the face of the 20th century Israeli occupation, poor infrastructure, and myriad of other challenges. (<a href=\"https:\/\/www.nationalgeographic.com\/culture\/article\/in-one-of-egypts-most-spiritual-places-bedouins-find-peace-and-resilience\">National Geographic<\/a>)<\/li>\n<\/ul>\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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-media\/\">social media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/twitter\/\">Twitter<\/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=\"562841\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562842\" 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=\"562842\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/\">\r\n                            Misr Life Ins. money market fund almost 5x oversubscribed                        <\/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\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/\" 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\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/')\">\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\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/\">\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=Misr Life Ins. money market fund almost 5x oversubscribed&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/\">\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\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/&title=Misr Life Ins. money market fund almost 5x oversubscribed\">\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=Misr+Life+Ins.+money+market+fund+almost+5x+oversubscribed+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fmisr-life-ins-money-market-fund-almost-5x-oversubscribed%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\/08\/misr-life-ins-money-market-fund-almost-5x-oversubscribed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562842\" class=\"content-area-description single-story post-562842 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-asset-management tag-banque-misr tag-enterpriseam tag-investment-watch tag-misr-capital tag-misr-life-insurance 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>A money market fund <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55181943-c78f-4644-82b2-ac3f8db0c5ba\">recently launched by Misr Life Ins.<\/a><\/strong><strong> was almost 5x oversubscribed <\/strong><strong>at close this week<\/strong>, attracting more EGP 470 mn in inflows, Misr Capital said in <a href=\"https:\/\/ent.news\/2021\/6\/MC-PRL-Misr-Life-Insurance-Closing-AR-v3.pdf\">a statement (pdf)<\/a>. The Misr Life Ins. Investment Fund had a target closing of EGP 100 mn. Managed by Misr Capital, the fund will invest in high-liquidity assets such as treasury bills and short-term corporate debt. Misr Capital is also managing a similar type of fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5aae13a-dcca-4201-b3c3-0f924b42b208\">launched by Sarwa Life Ins<\/a>. earlier this year.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/asset-management\/\">asset management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-capital\/\">Misr Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-life-insurance\/\">Misr Life Insurance<\/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=\"562843\" 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=\"562843\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/\">\r\n                            Record inflows into ETFs could be backstopping global stocks                        <\/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\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/\" 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\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/')\">\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\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/\">\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=Record inflows into ETFs could be backstopping global stocks&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/\">\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\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/&title=Record inflows into ETFs could be backstopping global stocks\">\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=Record+inflows+into+ETFs+could+be+backstopping+global+stocks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Frecord-inflows-into-etfs-could-be-backstopping-global-stocks%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\/08\/record-inflows-into-etfs-could-be-backstopping-global-stocks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562843\" class=\"content-area-description single-story post-562843 post type-post status-publish format-standard hentry category-planet-finance tag-bp tag-capital-markets tag-cryptocurrency tag-energy tag-enterpriseam tag-etfs tag-financial-markets tag-oil-and-gas tag-planet-finance tag-semiconductors tag-supply-chain wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>ETFs see record inflows in 2021:<\/strong> Inflows into exchange-traded funds have accelerated at a record pace so far this year thanks to retail investors pouring into the market, <a href=\"https:\/\/www.ft.com\/content\/796b4c18-dcf4-4a09-ab21-a74476f7b90d\">the Financial Times<\/a> reports. ETF inflows have reached USD 305 bn in 2021, far above the USD 249 bn invested through the whole of 2020, according to research firm CFRA.<\/p><p><strong>Are retail investors (paradoxically?) smoothing out market volatility?<\/strong> A 5% decline in US stocks normally happens c. three times each year, but no pullbacks have occurred in the past seven months, a lack of volatility analysts attribute to retail investors, who don\u2019t seem to be deterred by sell-offs and move to buy the dip. \u201cWhenever there is an immediate drawdown in equities, retail comes in immediately to buy the dip,\u201d says one analyst. \u201cPeople default to ETFs as a way to buy the dip. And recently retail has been buying more ETFs than any other segment of the equity population.\u201d<\/p><p><strong>The world is expected to remain in the grip of the global chip shortage until <\/strong><strong>at least mid-2022<\/strong>, with high demand for vehicles and consumer electronics expected to continue into next year, a leading electronics manufacturer has said, according to <a href=\"https:\/\/www.ft.com\/content\/04858089-fbe7-44f1-b096-8e705c664f8e\">the Financial Times<\/a>. \u201cSome are expecting [shortages to continue] into 2023,\u201d said a procurement and supply chain officer at Flex, the world\u2019s third largest electronics contract manufacturer. This has forced car and consumer electronics companies to adopt new approaches to secure their supply, such as paying for semiconductors in advance and purchasing chip plants.<\/p><p><strong>What we\u2019re hoping for:<\/strong> The forecast could get brighter if covid-19 vaccinations lead consumers to spend more on services and less on electronics, the salmon-colored paper says.<\/p><p><strong>BP expects oil demand to go from strength to strength<\/strong><strong>: <\/strong>A strong recovery in global crude demand is imminent and will last for a long time, CEO Bernard Looney told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-07\/bp-expects-strength-in-global-oil-demand-to-last-ceo-says?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. His comments come as Brent crude rose above USD 70 a barrel last week for the first time in more than two years. A report from Standard Chartered suggests that this month and July will see oil demand recovery \u201cat the point of maximum velocity.\u201d<\/p><p><strong>But OPEC+ countries are taking a cautious approach<\/strong>, with the Saudi Energy Minister saying he will believe the heightened demand predictions when he sees them playing out on the ground. The coalition of oil producing countries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46a0d8e4-edad-45e6-897f-bc98628350d5\">agreed last week<\/a> to add over 800 bbl\/d to supply in July, as part of a gradual easing of cuts made last year to protect oil prices from a supply glut during covid-19.<\/p><p><strong>Crypto scams are on the rise due to the absence of industry regulations and the <\/strong><strong>anonymity of digital tokens<\/strong>, the <a href=\"https:\/\/www.wsj.com\/articles\/crypto-frauds-target-investors-hoping-to-cash-in-on-bitcoin-boom-11623058380?mod=hp_lead_pos5\">Wall Street Journal<\/a> reports. Consumers lost some USD 82 mn to fraudsters during 4Q2020 and 1Q2021, a ten-fold increase from the same period a year earlier, according to the Federal Trade Commission. The commission\u2019s figures are based on self reporting and focused only in the US, so the actual figure of money lost to crypto scams is likely to be much higher worldwide.<\/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>10,105<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: -6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/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>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>10,719<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +23.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,646<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +31.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,839<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +13.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,226<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +12.5%)<\/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>7,077<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 71.49<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.10<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,901.60<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 34,188<\/p>\n<\/td>\n<td>\n<p>-3.9% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 fell 0.2% at today\u2019s close<\/strong> on turnover of EGP 1.71 bn (24.2% above the 90-day average). Foreign investors were net sellers. The index is down 6.8% YTD.<\/p><p><strong>In the green: <\/strong>Oriental Weavers (+6.2%), TMG Holding (+5.2%) and Telecom Egypt (+4.0%).<\/p><p><strong>In the red: <\/strong>Fawry (-3.3%), CIB (-1.8%) and GB Auto (-1.8%).<\/p><p><strong>It\u2019s a mixed picture in global markets so far this morning<\/strong>, with the Kospi alone among major Asian indexes to be in the green. Futures suggest a mixed open in Europe later this morning \u2014 and see the Dow in the red, Nasdaq and S&amp;P in the green at the opening bell on Wall Street.<\/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\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/etfs\/\">ETFs<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/semiconductors\/\">semiconductors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/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=\"562844\" 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=\"562844\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/\">\r\n                            UAE turns to culture in latest move to diversify away from oil                        <\/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\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/\" 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\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/')\">\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\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/\">\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=UAE turns to culture in latest move to diversify away from oil&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/\">\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\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/&title=UAE turns to culture in latest move to diversify away from oil\">\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=UAE+turns+to+culture+in+latest+move+to+diversify+away+from+oil+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F08%2Fuae-turns-to-culture-in-latest-move-to-diversify-away-from-oil%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\/08\/uae-turns-to-culture-in-latest-move-to-diversify-away-from-oil\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562844\" class=\"content-area-description single-story post-562844 post type-post status-publish format-standard hentry category-around-the-world tag-abu-dhabi tag-around-the-world tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>UAE turns to culture in latest move to diversify away from oil: <\/strong>Abu Dhabi plans to pump USD 6 bn into cultural and creative industries over the next five years, in the emirate\u2019s latest strategy to shift away from its reliance on oil and gas, a senior tourism official tells <a href=\"https:\/\/www.ft.com\/content\/c0ae0344-280b-40f0-a67f-7edc24033caf\">the Financial Times<\/a>. Having already invested USD 2.3 bn into industry-related projects, the emirate will ramp up spending on cultural heritage, the arts, media, and architecture as it looks to boost cultural industries\u2019 contributions to GDP.<\/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\/abu-dhabi\/\">Abu Dhabi<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"562845\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/\">\r\n                            Enterprise talks to: French Ambassador St\u00e9phane Romatet on building a greener Egypt<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Enterprise talks to: French Ambassador St\u00e9phane Romatet on building a greener Egypt&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/&title=Enterprise talks to: French Ambassador St\u00e9phane Romatet on building a greener Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Enterprise+talks+to%3A+French+Ambassador+St%C3%A9phane+Romatet+on+building+a+greener+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fenterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/112.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"562846\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-french-ambassador-stephane-romatet-on-building-a-greener-egypt\/112-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-562845\" class=\"content-area-description post-562845 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-enterprise-going-green tag-enterpriseam tag-france tag-green-economy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Enterprise talks to: French Ambassador St\u00e9phane Romatet on building a greener Egypt:<\/strong> French investment in Egypt has grown from an estimated EUR 3 bn in 2017 to EUR 5 bn today. Major renewables investments include Engie\u2019s 250 MW Ras Ghareb wind farm; EDF\u2019s 130 MW Benban solar plants; Total Eren\u2019s two 63 MW PV Benban solar projects; and Artelia\u2019s 2.4 GW hydroelectric project. The <a href=\"https:\/\/afd.fr\/\">French Agency for Development<\/a> (AFD) has provided EUR 800 mn in loans to Egypt\u2019s renewable energy projects since 2007, and nearly EUR 400 mn in climate financing through credit lines to the banking sector since 2015.<\/p>\n<p><strong>We sat down with St\u00e9phane Romatet, French Ambassador to Egypt,<\/strong> to discuss France\u2019s support for Egypt\u2019s green energy plans. The discussion touched on France\u2019s ambitions to partner with Egypt on green hydrogen, where French companies are eyeing more renewables investment in Egypt, and the need to resolve the feed-in tariff issue.<\/p>\n<p><strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p><strong>Current French investment in Egypt is an estimated EUR 5 bn. Renewables comprise 10% of that mix. <\/strong>Energy investments are growing from big players like <a href=\"https:\/\/www.total-eren.com\/en\/\">Total Eren<\/a>, <a href=\"https:\/\/www.edfenergy.com\/\">EDF<\/a> and <a href=\"https:\/\/www.engie.com\/\">Engie<\/a>, says Romatet. SMEs like <a href=\"https:\/\/www.osmosunwater.solutions\/\">Mascara<\/a> and <a href=\"https:\/\/www.naldeo.com\/\">Naldeo<\/a> are also eyeing the sector. Current French investment in renewable energy in Egypt is nearly EUR 500 mn.<\/p>\n<p><strong>Increasing overall investment is a priority:<\/strong> France wants to expand its investment in Egypt. Strategic sectors include infrastructure, transportation and energy. \u201cWe want more French companies to invest in Egypt. The AFD could support them by providing financing,\u201d Romatet says.<\/p>\n<p><strong>Renewables could make up 20% of French investment in Egypt within five years: <\/strong>\u201cTargeting 20% is reasonable given our planned projects in solar energy, wind farms, and biomass \u2014 and the long-term promise of hydrogen,\u201d he says.<\/p>\n<p><strong>Hydrogen is strategically important for France, and Egypt is its major international partner: <\/strong>Hydrogen is key to France\u2019s post-covid recovery plan. EUR 7 bn is earmarked for France\u2019s <a href=\"https:\/\/www.abc.net.au\/news\/science\/2021-01-23\/green-hydrogen-renewable-energy-climate-emissions-explainer\/13081872\">green hydrogen<\/a> development \u2014 hydrogen made without fossil fuels \u2014 by 2030, says Romatet. Egypt is the only country France is currently eyeing international cooperation on hydrogen with, Romatet believes.<\/p>\n<p><strong>France is helping Egypt plan its national hydrogen strategy: <\/strong>French and Egyptian specialists, including regulators and electricity ministry representatives, are developing Egypt\u2019s national hydrogen strategy, says Romatet. France is ready to pay for consultants to help with this process. It\u2019s outlined the capacity of its energy companies in hydrogen, says Romatet, and will develop terms of reference with the Egyptian government for Egypt\u2019s national hydrogen strategy, due to launch by 2030.<\/p>\n<p><strong>French companies including Engie, EDF and Voltalia are prioritizing investment in Egypt\u2019s renewables<\/strong>, says Romatet. Engie is in talks with the electricity ministry to finalize the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ef08409-5977-4816-915a-9daf6cf04c63\">power purchasing agreement<\/a> for its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce51742c-790d-4059-82ba-bb5ee11f191b\">500 MW BOO wind farm<\/a> in the Gulf of Suez. \u201cThey want to finalize everything this year, to launch the project in 2022,\u201d Romatet says. EDF Renewables is preparing for the next round of auctions for new solar projects. And <a href=\"https:\/\/www.voltalia.com\/index\">Voltalia<\/a> is eyeing new solar and wind investment.<\/p>\n<p><strong>Even with the focus on Ras Ghareb, solar is attractive: <\/strong>Current heightened interest in wind projects is partly because industry leader Engie terms the Red Sea one of the best global locations for wind energy, Romatet says. But land availability, a big factor in solar investments, has also slowed down recently. When new land becomes available, we can expect to see more solar investment, he adds.<\/p>\n<p><strong>How helpful are renewable investments, given Egypt\u2019s electricity glut? Well, surplus electricity is good for Egypt\u2019s energy hub ambitions.<\/strong> Egypt\u2019s current 40% overcapacity opens up possibilities for export, while leaving wide enough margins to absorb growing domestic demand, says Romatet. \u201cEgypt will play an important role in meeting Europe\u2019s energy security needs.\u201d<\/p>\n<p><strong>But much depends on its ability to export \u2014 which is still oil and gas reliant: <\/strong>Egypt\u2019s oil and gas export capacity is clear, Romatet notes. But geopolitical maritime boundary issues with Cyprus and Turkey also complicate this export process, he adds.<\/p>\n<p><strong>Egypt needs time to absorb additional capacity from renewable projects: <\/strong>New phases of renewable energy projects, including Ras Ghareb 2 and Kom Ombo, must be planned with domestic demand and export possibilities in mind. \u201cThe elements must be balanced. Why would investors or the Egyptian authorities invest in capacity that isn\u2019t currently needed?\u201d Renewable projects also take time to reach maturity, he adds. \u201cThere isn\u2019t a slow down, but we\u2019re seeing absorption of this first phase of projects.\u201d<\/p>\n<p><strong>Fixing the FiT is key to driving investment,<\/strong> says Romatet. The Egyptian authorities are working hard to fix the feed-in tariff \u2014 especially for solar \u2014 at the correct price. Ensuring it\u2019s low enough to be affordable but substantial enough to attract foreign investors is a balancing act, but resolving it is crucial, he says.<\/p>\n<p><strong>While issues around transmission and storage also need addressing:<\/strong> Transmission and storage capacity can also be constraints for French renewable energy companies. \u201cTransmission is a monopoly, and storage is technologically challenging. Addressing storage capacity will be one of the key elements of the hydrogen strategy.\u201d Still, some solutions are underway, like Voltalia developing storage solutions for solar energy.<\/p>\n<p><strong>Where else could French green investment grow? Energy efficiency and transition:<\/strong> EDF and <a href=\"https:\/\/www.se.com\/eg\/en\/\">Schneider<\/a> will continue to focus on heightening the efficiency of their distribution networks, says Romatet. Schneider could be eyeing more electricity distribution command centers. French consultancy firms like <a href=\"https:\/\/www.arteliagroup.com\/en\">Artelia<\/a> and Naldeo want to increase their energy transition work \u2014 helping companies move towards carbon neutrality.<\/p>\n<p><strong>And possibly desalination: <\/strong>Both <a href=\"https:\/\/www.suez.com\/en\">Suez<\/a> and Engie are interested in the government\u2019s desalination program. Mascara, which offers decentralized solar-power desalination technology, is also eyeing the market, says Romatet. Artelia is already involved in three desalination projects in New Mansoura, Galala, and Port Said. Desalination must be connected to hydrogen production because hydrogen is water intensive, he adds.<\/p>\n<p><strong>Beyond private sector investment, AFD offers grants and loans: <\/strong>Egypt\u2019s hydrogen development strategy study could be financed through an AFD-French treasury grant, says Romatet. AFD\u2019s funding mechanism, <a href=\"https:\/\/www.proparco.fr\/en\/page-thematique-axe\/our-range-services\">Proparco<\/a>, financed the three French companies involved in Benban through direct loans, he adds.<\/p>\n<p><strong>Technical assistance to financial institutions could drive financing to the green economy: <\/strong>Egypt\u2019s a liquid country, with accessible financing facilities, says Romatet. But providing technical assistance so financial institutions understand how to evaluate credit for green energy projects could help improve the culture of lending, he adds.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Green financing:<\/strong> The European Bank for Reconstruction and Development will provide <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b581a1c9-94c2-46c6-9923-b024ec358949\">USD 100 mn<\/a> to the National Bank of Egypt to on-lend to green SME projects<strong>.<\/strong><\/li>\n<li><strong>Water desalination: <\/strong>A consortium of Orascom Construction and Metito handed over a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fcc786f-3bb7-49bc-ac32-adda5f0f3c64\">USD 130 mn<\/a> seawater desalination plant in East Port Said.<\/li>\n<li><strong>Environmental awareness:<\/strong> The environment and tourism ministries launched a campaign to raise awareness on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ad7bd42-d124-4747-91fc-2f3c9dcafb07\">marine conservation<\/a> in the Red Sea.<\/li>\n<li><strong>Structural reforms:<\/strong> The green economy and clean energy \u201cremain of primary importance\u201d in a new raft of planned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a90acf00-10d7-4a81-9d9d-8990542e2d81\">structural reforms<\/a>.<\/li>\n<li><strong>Climate transition: <\/strong>The pandemic has accelerated the need to boost the digital and green transformation, OECD chief economist <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e71d17c7-9977-4b8d-a4d4-1a111d173053\">Laurence Boone<\/a> said last week.<\/li>\n<\/ul>\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\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"562847\" 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\/08\/your-essential-business-calendar-on-8-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562847\" class=\"content-area-description single-story post-562847 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>7-9 June (Monday-Wednesday): A delegation of 18 French companies will meet with international financial institutions and Egyptian private partners in an event<a href=\"https:\/\/ent.news\/2021\/6\/CP-English-version.pdf\"><\/a><a href=\"https:\/\/ent.news\/2021\/6\/CP-English-version.pdf\">organized<\/a> by Business France The event will take place at Sofitel Gezirah.<\/p>\n<p>11-14 June (Friday-Monday): Egypt<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151259670377795\"><\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151259670377795\">is hosting<\/a> the first forum of the heads of African investment promotion agencies from under the theme Integration for Growth.<\/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":562821,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562820","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f8437810-3a5c-4c9b-8a1a-00da9ca9034c","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/101.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>More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road - 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\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:51:54+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\/101.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\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/\",\"name\":\"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2021-06-08T04:00:13+00:00\",\"dateModified\":\"2025-12-16T03:51:54+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/","og_locale":"en_US","og_type":"article","og_title":"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T03:51:54+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/","name":"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1","datePublished":"2021-06-08T04:00:13+00:00","dateModified":"2025-12-16T03:51:54+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/101.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/more-chinese-jabs-coffee-with-frances-ambassador-kicking-microbuses-from-the-ring-road\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"More Chinese jabs, coffee with France\u2019s ambassador + kicking microbuses from the Ring Road"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562820\/revisions"}],"predecessor-version":[{"id":562857,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562820\/revisions\/562857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562821"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}