{"id":562971,"date":"2021-06-14T04:00:27","date_gmt":"2021-06-14T04:00:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=562971"},"modified":"2025-12-16T03:55:25","modified_gmt":"2025-12-16T03:55:25","slug":"good-news-on-everything-from-ipos-to-investment-and-the-end-of-the-third-wave","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/good-news-on-everything-from-ipos-to-investment-and-the-end-of-the-third-wave\/","title":{"rendered":"Good news on everything from IPOs to investment and the end of the third wave"},"content":{"rendered":"<section id=\"562973\" 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=\"562973\">\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\/14\/this-morning-netanyahu-no-more-g7-wraps\/\">\r\n                            THIS MORNING: Netanyahu no more; G7 wraps.                        <\/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\/14\/this-morning-netanyahu-no-more-g7-wraps\/\" 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\/14\/this-morning-netanyahu-no-more-g7-wraps\/')\">\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\/14\/this-morning-netanyahu-no-more-g7-wraps\/\">\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: Netanyahu no more; G7 wraps.&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/this-morning-netanyahu-no-more-g7-wraps\/\">\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\/14\/this-morning-netanyahu-no-more-g7-wraps\/&title=THIS MORNING: Netanyahu no more; G7 wraps.\">\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+Netanyahu+no+more%3B+G7+wraps.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Fthis-morning-netanyahu-no-more-g7-wraps%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\/14\/this-morning-netanyahu-no-more-g7-wraps\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562973\" class=\"content-area-description single-story post-562973 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-arab-league tag-climate-change tag-diplomacy tag-enterpriseam tag-g7 tag-gerd tag-international-energy-agency tag-politics tag-sameh-shoukry tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to the Good News Edition of <\/strong><strong>Enterprise. <\/strong>From investment and the nation\u2019s IPO pipeline to our deepening partnership with France, it\u2019s bright blue skies for nearly as far as the eye can see this morning here at home. We have the full rundown in this morning\u2019s news well, below. Meanwhile:<\/p><p><strong>***CATCH UP QUICK<\/strong> on the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>France wants to be among our top trading partners, French Finance Minister Bruno Le Maire told us in an <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da434836-d753-4823-810c-605fb1278bfe\">exclusive sitdown<\/a><\/strong> as Cairo and Paris yesterday signed almost EUR 4 bn in bilateral agreements and contracts covering transport, social security and development.<\/li>\n<li><strong>Could we see a USD 3-4 bn green hydrogen initiative soon? <\/strong>Studies for one of several planned green hydrogen plants are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe7a15bc-d122-4bdd-9aab-2af8f4f37393\">expected to be finalized<\/a> and presented to the Sovereign Fund of Egypt and other state bodies including the oil and environment ministries as early as next week.<\/li>\n<li><strong>Tobacco monopoly Eastern Company isn\u2019t selling securitized bonds:<\/strong> CEO Hany Aman told us that issuing securitized bonds isn't in the company\u2019s plans, denying a report by Al Shorouk we noted in yesterday\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/13\/eastern-mulls-securitized-bond-sale-to-fund-expansion-plans-43425\/\">EnterpriseAM<\/a>.<\/li>\n<\/ul><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>THE BIG STORY ABROAD #1- Netanyahu is outta here:<\/strong> The Israeli parliament narrowly gave its blessing to a new coalition government last night, finally unseating Prime Minister Benjamin Netanyahu after 12 years in office. The vote brings to power a fragile group of disparate political parties \u2014 including the far right, Islamists and liberals \u2014 and brings to an end two years of paralysis that produced four indecisive elections.<\/p><p><strong>So, who is the new man in charge?<\/strong> <a href=\"https:\/\/www.wsj.com\/articles\/israel-netanyahu-bennett-lapid-11622624494?mod=searchresults_pos1&amp;page=1\">The Wall Street Journal<\/a> has the rundown on far-right darling Naftali Bennett, who will serve as Israel\u2019s prime minister for the next two years (if the coalition lasts that long\u2026) before making way for liberal leader and coalition partner Yair Lapid.<\/p><p><strong>The story is everywhere in the global press this morning<\/strong> from <a href=\"https:\/\/www.reuters.com\/article\/us-israel-politics\/new-israeli-government-wins-majority-vote-ending-netanyahu-tenure-idUSKCN2DP01I\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/israel-knesset-benjamin-netanyahu-naftalia-bennett-deea22832a1cb2d95736f342958083fd\">the AP<\/a> to <a href=\"https:\/\/www.nytimes.com\/live\/2021\/06\/13\/world\/israel-knesset-bennett-lapid-netanyahu\/\">the New York Times<\/a> and <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/netanyahu-out-israel-prime-minister\/2021\/06\/13\/eaac2738-c9e8-11eb-8708-64991f2acf28_story.html\">the Washington Post<\/a>.<\/p><p><strong>THE BIG STORY ABROAD <\/strong><strong>#2<\/strong><strong>- The G7 wraps:<\/strong> The final day of the G7 Summit finished in Cornwall, the UK, yesterday. Here are the highlights from <a href=\"https:\/\/ent.news\/2021\/6\/carbis-bay-g7-summit-communique.pdf\">the final communique (pdf)<\/a>:<\/p><ul>\n<li><strong>Tax:<\/strong> Leaders reiterated their commitment to last month\u2019s global tax pact and pledged to negotiate a solid agreement that will introduce a minimum 15% global corporate tax rate.<\/li>\n<li><strong>Climate: <\/strong>Nations agreed to commit to \u201ca set of concrete actions\u201d to end state financing for unabated coal power by year-end and to \u201cmostly decarbonize\u201d electricity supplies in the 2030s.<\/li>\n<li><strong>Covid vaccines:<\/strong> G7 countries will pay for 1 bn covid vaccines and share at least 870 mn more, half of which will be delivered by the end of the year.<\/li>\n<li><strong>China:<\/strong> Leaders denounced China over human rights abuses in Xinjiang and called for a new investigation into the origins of covid-19, but held back from harshly criticizing its trade policies.<\/li>\n<\/ul><p><strong>Not everyone\u2019s happy:<\/strong> \u201cThis G-7 summit will live on in infamy,\u201d <a href=\"https:\/\/apnews.com\/article\/g-7-summit-biden-johnson-china-climate-change-31ae76e45f40ac3636c9e819ad899654\">the Associated Press<\/a> quotes Max Lawson, the head of inequality policy at the international aid group Oxfam, as saying. \u201cFaced with the biggest health emergency in a century and a climate catastrophe that is destroying our planet, they have completely failed to meet the challenges of our times.\u201d<\/p><p><strong>The global press is mainly focusing on divisions<\/strong> in the group about how to respond to China: <a href=\"https:\/\/www.reuters.com\/world\/china\/china-cautions-g7-small-groups-dont-rule-world-2021-06-13\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-13\/biden-gets-g-7-reset-after-win-on-vaccines-tension-over-china?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/501551f1-5624-469c-bcf3-c31544de0e1e\">FT<\/a>.<\/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>HAPPENING TODAY- <\/strong><\/p><p><strong>Fintech bill to get committee approval today? <\/strong>The House\u2019s CIT Committee yesterday greenlit yesterday five articles of the draft fintech bill and will continue discussing the remaining articles in a session today, according to <a href=\"https:\/\/bit.ly\/3wpoyGA\">Al Mal<\/a>. The 30-article bill, which got the Committee\u2019s preliminary nod <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30d15bee-ceda-4044-aefc-8e2c73d6ef1c\">last month<\/a>, would regulate the use of technology to deliver non-banking financial services and grant the Financial Regulatory Authority (FRA) the power to license and regulate fintech businesses. The FRA had drafted and approved the bill <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d59b8d8-cfa8-4d41-8c9e-af80e1620e1e\">last year<\/a>, before earning the Cabinet\u2019s sign-off <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4da67185-faac-4351-a33d-5c9fc7718ddd\">in April<\/a>.<\/p><p><strong>Saudi Commerce Minister Majid Al Qasabi is in town<\/strong> for trade talks with Prime Minister Moustafa Madbouly and to attend a meeting of the Egyptian-Saudi Joint Business Council, the Trade Ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/155726709931091\">a statement<\/a>.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/csrarabia.com\/\">Green Economy Forum<\/a><\/strong> takes place today at the Intercontinental Citystars in Heliopolis.<\/p><p>On the agenda: sustainable finance, waste management and supply chain risk. Look for participants to include speakers from multilateral lenders and global institutions, local and multinational businesses and investors, and Egyptian government officials. Check out the full event brochure <a href=\"https:\/\/ent.news\/2021\/5\/3rd-Forum-on-Strategies-For-Transition-To-Green-Economy-AR.pdf\">here (pdf)<\/a>.<\/p><p><strong>The first forum of the heads of African investment promotion agencies wraps up in <\/strong><strong>Sharm El Sheikh today.<\/strong> Ministers, heads of investment agencies from 34 African countries and representatives of major financial institutions <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/151259670377795\">are in attendance<\/a>.<\/p><p><strong>HAPPENING THIS WEEK-<\/strong><\/p><p><strong>The Arab League will meet in Doha tomorrow for \u201cemergency\u201d GERD talks<\/strong> at the request of Egypt and Sudan. Foreign Minister Sameh Shoukry headed to the Qatari capital yesterday evening ahead of the meeting, carrying a letter from President Abdel Fattah El Sisi to Qatari Emir Tamim bin Hamad Al Thani on the latest \u201cpositive\u201d developments in Egyptian-Qatari relations since the Al Ula declaration was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/385f8cb8-4b97-4f11-b5dc-3e1263b91ad9\">signed earlier this year<\/a>.<\/p><p><strong>The Central Bank of Egypt will meet on Thursday, 17 June to review rates. <\/strong>All 11 analysts and economists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f456c5c-ed19-4468-bccf-817c0fa49938\">surveyed in our poll<\/a> are calling another hold as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a19da710-1330-415c-8993-290f63133dcb\">inflation hit its highest level<\/a> all year in May as the global commodities boom began to hit the domestic economy.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> Egypt is working hard to boost its science, technology, engineering and mathematics (STEM) education, an area where women are <a href=\"https:\/\/www.un.org\/en\/observances\/women-and-girls-in-science-day\">globally underrepresented<\/a>. We\u2019re doing better than average when it comes to women studying STEM, with almost equal numbers of male-female STEM university graduates. But this isn\u2019t reflected in the workplace, where men far outnumber women in STEM careers. The discrepancy has nothing to do with academic ability, and everything to do with workplace inaccessibility and gender bias, the data shows. To change it, we need better policy implementation, funding and more flexible working conditions.<\/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\/arab-league\/\">Arab League<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-energy-agency\/\">International Energy Agency<\/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\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"562974\" 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=\"562974\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/562974\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562974\" class=\"content-area-description single-story post-562974 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/SOMA-ENTERPRISE-EQF-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>Take a serene walk and dip your toes in the silky water as you get to know Somabay\u2019s local equine citizens.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562975\" 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=\"562975\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/banks-may-face-more-pressure-in-the-coming-fiscal-year\/\">\r\n                            Banks may face more pressure in the coming fiscal 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\/14\/banks-may-face-more-pressure-in-the-coming-fiscal-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"562976\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/banks-may-face-more-pressure-in-the-coming-fiscal-year\/179-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/179.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"179.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/179.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/179.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562975\" class=\"content-area-description single-story post-562975 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-enterpriseam tag-finance tag-fitch-ratings tag-interest-rates 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>Egyptian bank<\/strong><strong>s could see their interest income squeezed during the coming <\/strong><strong>state <\/strong><strong>fiscal year<\/strong> due to lower interest rates and a potential dip in treasury yields, <a href=\"https:\/\/www.fitchratings.com\/research\/banks\/egyptian-banks-net-interest-margins-to-come-under-pressure-10-06-2021?ite=608232&ito=2639&itq=4cd32f2f-dc41-4d3f-a2a4-e81dd90f3102&itx%5Bidio%5D=48546484\">Fitch Ratings<\/a> said in a report yesterday.<\/p>\n<p><strong>The sector\u2019s average net interest-margin (NIM) held up remarkably well through 2020<\/strong>, coming in at 4.1% despite the central bank cutting rates by 400 bps last year in response to the pandemic, the ratings agency said. This was largely thanks to yields on sovereign bonds \u2014 from which banks derive around 65% of their income \u2014 remaining high throughout the year.<\/p>\n<p><strong>This won\u2019t necessarily remain the status quo in the 12 months ending June 2022, though<\/strong>, under a few scenarios mapped out by the ratings agency yesterday.<\/p>\n<p><strong>Scenario #1: The central bank cuts rates by 50-150 bps in FY2021-2022 + yields remain unchanged.<\/strong> Banks are unlikely to feel much of an impact under this scenario, given their main source of interest income would remain unaffected. This doesn\u2019t mean that every bank would feel the same impact though. Fitch says that the individual bank\u2019s funding structure, and asset and liability pricing powers will determine how exposed it is to a lower interest rate environment.<\/p>\n<p><strong>Scenario #2: The central bank cuts rates by 50-150 bps in FY2021-2022 + yields fall with them.<\/strong> Under this scenario, the effects on NIMs will be \u201cmore significant,\u201d the ratings agency says, estimating that a rate reduction of up to 150 bps will squeeze margins by as much as 70 bps.<\/p>\n<p><strong>The odds of aggressive rate cuts aren't exactly high: <\/strong>Most of the analysts <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f456c5c-ed19-4468-bccf-817c0fa49938\">we surveyed last week<\/a> ahead of this Thursday\u2019s MPC meeting expect the central bank to leave rates unchanged for most of the year, with a cut coming in the final quarter at the very earliest. The central bank has maintained rates for four consecutive meetings, largely to avoid putting pressure on real rates and dimming the attractiveness of the EGP carry trade \u2014 the most attractive of its kind in the world.<\/p>\n<p><strong>The direction of yields isn\u2019t the only thing that could impact interest income: Lending to folks other than government matters, too.<\/strong> Corporate and consumer borrowing are set to grow over the next 18 months, according to Fitch, which predicts high single-digit loan growth through 2021 and low double-digit growth next year, helped by the CBE\u2019s subsidized loan scheme and an increase in capex spending.<\/p>\n<p><strong>Scenario #3: Interest rates + yields remain the same, but bond holdings fall 5-15% due to increased lending.<\/strong> Should banks sell down some of their positions in high-yielding treasuries in favor of increasing lower-yielding personal and business loans, Fitch estimates that the average NIM could fall by up 90 bps.<\/p>\n<p><strong>Scenario #4: Interest rates + yields drop and bond holdings fall 5-15%.<\/strong> Combine a smaller treasury portfolio and lower yields, and the NIMs in the sector fall by up to 170 bps, the ratings agency says.<\/p>\n<p><strong>Banks remained financially sound throughout the pandemic<\/strong>, despite operating income from loans and core operations <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/391be5b9-acd4-4da9-9a8e-b6890b9c795d\">mostly decreasing<\/a>. This is because a large part of bank income comes from government debt. Egyptian banks are also very conservative, with relatively low loan-to-deposit ratios by international standards.<\/p>\n<p><strong>Background: <\/strong>Fitch <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc128fd6-a4af-441b-a5d1-969abb33b838\">flagged in April<\/a> that the profitability of banks may drop this year because of lower interest rates and a rise in default rates that may result from the central bank lifting its emergency support measures.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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=\"562977\" 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=\"562977\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/\">\r\n                            Jumia flags Egypt as a top investment destination, looking at everything from digital payments to last-mile delivery                        <\/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\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/\" 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\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/')\">\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\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/\">\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=Jumia flags Egypt as a top investment destination, looking at everything from digital payments to last-mile delivery&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/\">\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\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/&title=Jumia flags Egypt as a top investment destination, looking at everything from digital payments to last-mile delivery\">\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=Jumia+flags+Egypt+as+a+top+investment+destination%2C+looking+at+everything+from+digital+payments+to+last-mile+delivery+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Fjumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery%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\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/180.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562978\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/180-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/180.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"180.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/180.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/180.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562977\" class=\"content-area-description single-story post-562977 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-e-commerce tag-egx tag-enterpriseam tag-healthcare tag-hesham-safwat tag-integrated-diagnostics-holding tag-investment-watch tag-jumia 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>Africa-focused e-commerce giant<\/strong> <strong>Jumia plans to invest over USD 590 mn in <\/strong><strong>Egypt <\/strong><strong>and other <\/strong><strong>African countries<\/strong> over the upcoming years starting 2021, CEO Hesham Safwat told Enterprise. Safwat declined to reveal exactly what portion of the funds would be directed towards Egypt, but said that it is \u201cone of the top countries we\u2019re focusing on.\u201d<\/p>\n<p><strong>The amount was raised over two phases from the sale of American depositary shares on the New <\/strong><strong>York <\/strong><strong>Stock Exchange:<\/strong> <a href=\"https:\/\/ent.news\/2021\/6\/Jumia-Press-Release-ATM-Offering-Completion-03.12.20.pdf\">USD 243.2 mn (pdf)<\/a> in December 2020 and <a href=\"https:\/\/ent.news\/2021\/6\/Jumia-ATM-Completion-30.03.21.pdf\">USD 348.6 mn (pdf)<\/a> in March this year, he said.<\/p>\n<p><strong>Where will Egypt\u2019s investments be channeled? <\/strong>Jumia Egypt will focus its investments on digital payments and other e-services including Jumia Mall and Jumia Food, Safwat said.<\/p>\n<p><strong>Expansion plans: <\/strong>Jumia Egypt will increase its total number of pickup stations to 200 this July and increase its last-mile delivery stations by 40%, Thomas Maudet, managing director of Jumia Services Egypt, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44d68559-bd1c-482c-832f-01ec359fa64f\">told us in May<\/a>. The company also plans to expand Jumia Food \u2014 which launched in Egypt seven months ago \u2014 in Cairo and Alexandria. Other plans include increasing its warehouses and delivery capacity in the Delta to improve its next-day delivery service.<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n<p><strong>Consumer healthcare giant Integrated Diagnostics Holding (IDH) will invest EGP <\/strong><strong>300 mn in Egypt this year<\/strong> in a plan that will allow the company to open 19 additional branches nationwide before the year is out, IDH CEO Hend El Sherbini tells <a href=\"https:\/\/bit.ly\/35dNtRA\">Hapi Journal<\/a>. The company, which plans to open 30-35 new branches annually, will inaugurate a third branch of Al Borg Scan in Heliopolis this month, in addition to opening three other sites of the scan centers across the country in 2H2022, she said.<\/p>\n<p><strong>IDH has invested EGP 35-40 mn in Egypt since the beginning of the year<\/strong>, opening 16 new branches of its Al Borg and Al Mokhtabar laboratory brands during the first five months of the year, according to El Sherbini. As of April, it had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70a8ec27-fa67-4977-a2f4-30d0fccba9c3\">429 branches in Egypt<\/a> and a market share of more than 50% through its Al Borg and Al Mokhtabar brands.<\/p>\n<p><strong>IDH is armed with fresh funding from the International Finance Corporation<\/strong>, which last month signed off on a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/003e6c20-e4cf-409e-87d1-ece077700544\">USD 45 mn loan<\/a>, which it said it would use to finance expansion into new emerging markets. The LSE-listed company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48ddada3-0016-47a8-a9e6-201cb9d0cca7\">debuted 5% of its shares<\/a> on the EGX last month, completing the exchange\u2019s first-ever technical listing.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hesham-safwat\/\">Hesham Safwat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jumia\/\">Jumia<\/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=\"562979\" 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=\"562979\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/four-companies-to-ipo-in-2h2021\/\">\r\n                            Four companies to IPO in 2H2021?                        <\/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\/14\/four-companies-to-ipo-in-2h2021\/\" 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\/14\/four-companies-to-ipo-in-2h2021\/')\">\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\/14\/four-companies-to-ipo-in-2h2021\/\">\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=Four companies to IPO in 2H2021?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/four-companies-to-ipo-in-2h2021\/\">\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\/14\/four-companies-to-ipo-in-2h2021\/&title=Four companies to IPO in 2H2021?\">\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=Four+companies+to+IPO+in+2H2021%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Ffour-companies-to-ipo-in-2h2021%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\/14\/four-companies-to-ipo-in-2h2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/181.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562980\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/four-companies-to-ipo-in-2h2021\/181-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/181.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562979\" class=\"content-area-description single-story post-562979 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-banque-du-caire tag-capital-markets tag-egx tag-enterpriseam tag-ipo-watch tag-new-castle-for-investment-sports 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>The EGX could see as many as four companies debut shares during the second <\/strong><strong>half of the year<\/strong>, EGX Chairman Mohamed Farid told <a href=\"https:\/\/www.reuters.com\/article\/egypt-ipo\/update-1-egyptian-bourse-chief-expects-four-ipos-in-second-half-of-year-idUSL2N2NV03G\">Reuters<\/a>.<\/p>\n<p><strong>Want to know who? Farid is keeping us guessing.<\/strong> The EGX boss didn\u2019t mention which companies could go public or when, only telling the newswire that they operate in the IT, agriculture and chemicals industries.<\/p>\n<p><strong>Is Banque du Caire among those in line to go public before the year is out?<\/strong> Farid brushed off questions about whether the state-owned bank will IPO this year, saying only that \u201cstate-owned offerings are under the purview of the relevant ministerial committee.\u201d<\/p>\n<p><strong>BdC should, in theory, be one of the companies to IPO<\/strong>, after the Financial Regulatory Authority this week gave it \u2014 along with Sky Light Touristic Development, New Castle Sports Investment and City Trade Securities \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9042bc58-543e-4716-8a87-3f2e8b2c7bf6\">a new deadline<\/a> to complete its IPO by the end of the year. All of the companies have listed shares on the exchange but are yet to offer shares to the public.<\/p>\n<p><strong>But then again\u2026 <\/strong>A source told us that the FRA could extend the deadline again if the companies don\u2019t manage to IPO by the end of the year.<\/p>\n<p><strong>Other likely contenders:<\/strong> State-owned e-payments company <strong>E-Finance<\/strong>, which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dcf72de-83f0-4f8b-a789-7f634c29f006\">said earlier this year<\/a> to be lining itself up for a 2H2021 IPO, and non-bank financial services player <strong>Ebtikar<\/strong>, which is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\">planning to go public in the final quarter<\/a>. Cosmeceutical giant <strong>Macro Group<\/strong> is looking ot the fall to pull the trigger on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7b185ef-8845-4573-9b36-31998bb84ee7\">its IPO<\/a>, having recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41f12ac1-51f9-49c7-ad9e-9955e248aa88\">hired EFG Hermes to quarterback the transaction<\/a> alongside Renaissance Capital, which had previously shared the mandate with CI Capital.<\/p>\n<p><strong>Earlier this year, it looked like ministers were about to brush the cobwebs off the state privatization program<\/strong>, when Public Enterprises Minister Hisham Tawfik told us that a government committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0078f808-91d9-4cff-b35b-9ce190e48e7e\">would meet to decide<\/a> which companies would be chosen to IPO.<\/p>\n<p><strong>Since then, it has been radio silence:<\/strong> The minister <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c843e67-c38f-4481-b7a2-84e4373812b8\">said in April<\/a> that two or three state companies could sell shares in 3Q but we still haven\u2019t heard anything concrete as we head into the third quarter.<\/p>\n<p><strong>Conventional wisdom is that it will take new paper to spark the return of foreign institutional investors <\/strong>to the EGX. The EGX is now deep in the grip of retail traders and is down more than 8% YTD. Our regional rivals, meanwhile, are soaring: Saudi\u2019s Tadawul is up more than 25% so far this year, the ADX has climbed nearly 33% and the DFM is up 14% since the start of the year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-castle-for-investment-sports\/\">New Castle for Investment Sports<\/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=\"562981\" 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=\"562981\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/are-we-over-wave-3\/\">\r\n                            Are we over wave #3?                        <\/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\/14\/are-we-over-wave-3\/\" 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\/14\/are-we-over-wave-3\/')\">\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\/14\/are-we-over-wave-3\/\">\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=Are we over wave #3?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/are-we-over-wave-3\/\">\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\/14\/are-we-over-wave-3\/&title=Are we over wave #3?\">\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=Are+we+over+wave+%233%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Fare-we-over-wave-3%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\/14\/are-we-over-wave-3\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562981\" class=\"content-area-description single-story post-562981 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-china tag-covid-19 tag-enterpriseam tag-eu tag-g7 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-04\"><\/a> <strong>Are we over wave #3? <\/strong>The dreaded third wave \u201chas ended\u201d here at home, with daily infection rates falling from their recent peak during Eid El Fitr, deputy health minister for intensive care affairs Sherif Wadea said in a phone-in to Al Hadath Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=uRkyP62vKbY\">watch, runtime: 4:24<\/a>). Bed occupancy rates and hospital-acquired infections decreased to 29% from the past week, while ICU occupancy dropped by as much as 56%, courtesy precautionary measures imposed by cabinet and a boost in the local vaccination campaign, she said.<\/p>\n<p><strong>Cases continued to decline yesterday<\/strong>, falling to 691, according to <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/403168754567076\">new figures<\/a> from the Health Ministry. This is down 42% from the recent peak during the Eid break. Egypt has now disclosed a total of 273,182 confirmed cases of covid-19. The ministry also reported 41 new deaths, bringing the country\u2019s total death toll to 15,623.<\/p>\n<p><strong>The US seems to have beaten the pandemic:<\/strong> Just 2% of covid-19 tests in the US are positive \u2014 the lowest since the pandemic broke out in the states in March 2020, compared with more than 13% during the winter, <a href=\"https:\/\/www.wsj.com\/articles\/positive-covid-19-tests-fall-to-lowest-recorded-rate-11623585601?mod=hp_lead_pos4\">the Wall Street Journal<\/a> reported, citing figures from Johns Hopkins University. The percentage of tests coming back positive have been falling dramatically in the US since April, along with declining hospitalization and death counts.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/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=\"562982\" 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=\"562982\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/\">\r\n                            Fatura raises USD 3 mn pre-series A round                        <\/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\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/\" 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\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/')\">\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\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/\">\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=Fatura raises USD 3 mn pre-series A round&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/\">\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\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/&title=Fatura raises USD 3 mn pre-series A round\">\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=Fatura+raises+USD+3+mn+pre-series+A+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Ffatura-raises-usd-3-mn-pre-series-a-round%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\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/183.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562983\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/fatura-raises-usd-3-mn-pre-series-a-round\/183-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/183.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"183.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/183.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/183.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562982\" class=\"content-area-description single-story post-562982 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-cairo-angels tag-e-commerce tag-egypt-ventures tag-enterpriseam tag-fatura tag-fintech tag-sawari-ventures tag-startup-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-05\"><\/a> <strong>Egyptian B2B marketplace <\/strong><strong><a href=\"https:\/\/www.facebook.com\/FaturaEgypt\/\">Fatura<\/a><\/strong><strong> closed a USD 3 mn pre-series A funding round <\/strong>co-led by <a href=\"https:\/\/sawariventures.com\/\">Sawari Ventures<\/a> and <a href=\"https:\/\/www.arzanvc.com\/\">Arzan VC<\/a>, the company said in <a href=\"https:\/\/ent.news\/2021\/6\/Fatura-pre-series-A-funding-round.pdf\">a press release (pdf)<\/a>. <a href=\"https:\/\/egyptventures.com\/\">Egypt Ventures<\/a>, <a href=\"https:\/\/www.efgev.com\/\">EFG-EV<\/a>, <a href=\"https:\/\/cairoangels.com\/\">Cairo Angels<\/a>, and <a href=\"https:\/\/khwarizmivc.com\/\">Khwarizmi Ventures<\/a> also participated in the round. The company will use the funds to extend its activities to provide further services to manufacturers, wholesalers and retailers in the B2B sector, the company said. These are likely to include digital payments on its platform \u2014 an endeavor it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a56e579-0dbb-456b-9ba9-314775c83017\">hinted at last year<\/a> \u2014 as well as expanding into new regional markets.<\/p>\n<p><strong>Fatura\u2019s marketplace was launched in 2019<\/strong> to connect wholesalers and manufacturers with retailers in different industries, and mostly operates in the fast-moving consumer goods industry. Fatura\u2019s first funding round in July 2020 saw the startup <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d02d7746-da0f-42b8-8f6b-3b3ac9f35b7d\">raise USD 1 mn<\/a> in a round led by Disruptech.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cairo-angels\/\">Cairo Angels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-ventures\/\">Egypt Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fatura\/\">Fatura<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sawari-ventures\/\">Sawari Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562984\" 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=\"562984\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/\">\r\n                            SFE, GEMS collaborate on Sixth of October schools                        <\/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\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SFE, GEMS collaborate on Sixth of October schools&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/&title=SFE, GEMS collaborate on Sixth of October schools\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SFE%2C+GEMS+collaborate+on+Sixth+of+October+schools+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Fsfe-gems-collaborate-on-sixth-of-october-schools%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\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\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/184.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"562985\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/184-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/184.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"184.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/184.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/184.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562984\" class=\"content-area-description single-story post-562984 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-cosmic-village tag-education tag-enterpriseam tag-gems tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Sovereign Fund of Egypt (SFE) and GEMS Egypt will establish at least two <\/strong><strong>schools in<\/strong> <strong>Sixth of October City\u2019s state-owned <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2017\/08\/24\/educational-cosmic-village-possibly-the-creepiest-way-to-waste-state-resources\/\">Cosmic Village<\/a><\/strong>, a source from GEMS told Enterprise on condition of anonymity. The schools will be open for admission starting September 2023, they added. Details on an expected cost for the project have not yet been confirmed.<\/p>\n<p><strong>This isn\u2019t the first agreement of the sort:<\/strong> The SFE and GEMS <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f322b811-078e-4543-b1d1-47696be7f5f3\">signed an MoU in March<\/a> to build and operate two national schools in west Cairo on SFE-owned land. The wealth fund also committed EGP 250 mn to the EFG Hermes Education Fund, established in 2018 as a 50\/50 JV between EFG and GEMS.<\/p>\n<p><strong>Investment plans:<\/strong> GEMS CEO Ahmed Wahby said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3659b3f7-f89c-4b0c-a2fd-855745e0c15b\">last year<\/a> that the company has earmarked USD 300 mn to set up 30 schools across its footprint over 2.5 years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cosmic-village\/\">Cosmic village<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562986\" 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=\"562986\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/more-details-on-the-egypt-france-financing-agreement\/\">\r\n                            More details on the Egypt-France financing agreement                        <\/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\/14\/more-details-on-the-egypt-france-financing-agreement\/\" 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\/14\/more-details-on-the-egypt-france-financing-agreement\/')\">\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\/14\/more-details-on-the-egypt-france-financing-agreement\/\">\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 details on the Egypt-France financing agreement&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/more-details-on-the-egypt-france-financing-agreement\/\">\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\/14\/more-details-on-the-egypt-france-financing-agreement\/&title=More details on the Egypt-France financing agreement\">\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+details+on+the+Egypt-France+financing+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Fmore-details-on-the-egypt-france-financing-agreement%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\/14\/more-details-on-the-egypt-france-financing-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562986\" class=\"content-area-description single-story post-562986 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-france tag-pakistan tag-politics tag-trade 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>More details of the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da434836-d753-4823-810c-605fb1278bfe\">EUR 3.8 bn in agreements<\/a><\/strong><strong> and contracts signed with France <\/strong><strong>yesterday<\/strong>, courtesy of <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/155603963276699\">the cabinet<\/a>.<\/p>\n<p><strong>Transport: <\/strong>Funding from the French government will go towards a raft of transport projects, including the supply of 55 new trains for Cairo Metro Line 1, the rehabilitation of the Mansoura-Damietta railway, the construction of the Aswan-Toshka rail line, and the Abu Qir metro conversion project, the cabinet said.<\/p>\n<p><strong>Energy + wastewater:<\/strong> Funding will also be earmarked for energy, electricity, housing and wastewater projects, the statement said. This includes wastewater plants in Helwan and Alexandria, a power control center in Alexandria, and the establishment of a wholesale market in Borg El Arab.<\/p>\n<p><strong>READ OUR FULL INTERVIEW WHEN IT COMES OUT THIS WEEK- <\/strong>In it, Le Maire tells us of his administration\u2019s ambitions to make France among Egypt\u2019s top three trading partners from a current eighth. He explains to us why France has been accelerating its economic cooperation with us over the past four years and where he wishes to see this cooperation go. We also talk about what the G7 tax agreement could mean for us. You don\u2019t want to miss it.<\/p>\n<p><strong>ALSO IN DIPLOMACY-<\/strong><\/p>\n<p><strong>Egypt, Pakistan talk defense: <\/strong>President Abdel Fattah El Sisi and Defense Minister Mohamed Zaki discussed military ties and organizing joint drills during a meeting in Cairo yesterday with the chairman of Pakistan\u2019s Joint Chiefs of Staff, Ittihadiya said in <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/334703764685025\">a statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pakistan\/\">Pakistan<\/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\/trade\/\">trade<\/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=\"562987\" 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=\"562987\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/\">\r\n                            Tamer Azer appointed Egypt partner for Shorooq Partners                        <\/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\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/\" 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\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/')\">\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\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/\">\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=Tamer Azer appointed Egypt partner for Shorooq Partners&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/\">\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\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/&title=Tamer Azer appointed Egypt partner for Shorooq Partners\">\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=Tamer+Azer+appointed+Egypt+partner+for+Shorooq+Partners+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Ftamer-azer-appointed-egypt-partner-for-shorooq-partners%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\/14\/tamer-azer-appointed-egypt-partner-for-shorooq-partners\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562987\" class=\"content-area-description single-story post-562987 post type-post status-publish format-standard hentry category-moves tag-armed-forces tag-defence-minister tag-enterpriseam tag-mohamed-zaki tag-moves tag-shorooq-partners tag-startups tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Emirati VC firm <strong>Shorooq Partners<\/strong> has appointed <strong>Tamer Azer<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/tamerazer\/?originalSubdomain=eg\">LinkedIn<\/a>) as a partner in its new Cairo office, according to <a href=\"https:\/\/ent.news\/2021\/6\/210614-SRQ-Press-Release-Egypt-Setup-vF-.pdf\">a statement (pdf)<\/a>. Azer joins from Sawari Ventures where he served as a principal starting 2019.<\/p>\n<p><strong>Col. Gharib Abdel Hafez<\/strong> (<a href=\"https:\/\/bit.ly\/2SuYsU2\">bio<\/a>) has been appointed the <strong>new spokesperson for the <\/strong><strong>Egyptian Armed Forces<\/strong> to replace Brig.-Gen. Tamer Mohamed, according to a <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/2361542800643355\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/armed-forces\/\">Armed Forces<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/defence-minister\/\">Defence Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-zaki\/\">Mohamed Zaki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shorooq-partners\/\">Shorooq Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"562988\" 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=\"562988\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/562988\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562988\" class=\"content-area-description single-story post-562988 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate4-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562989\" 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=\"562989\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/\">\r\n                            Russian flights to return in \u201ccoming few weeks\u201d - El Enany                        <\/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\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/\" 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\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/')\">\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\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/\">\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=Russian flights to return in \u201ccoming few weeks\u201d - El Enany&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/\">\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\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/&title=Russian flights to return in \u201ccoming few weeks\u201d - El Enany\">\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=Russian+flights+to+return+in+%E2%80%9Ccoming+few+weeks%E2%80%9D+-+El+Enany+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Frussian-flights-to-return-in-coming-few-weeks-el-enany%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\/14\/russian-flights-to-return-in-coming-few-weeks-el-enany\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562989\" class=\"content-area-description single-story post-562989 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-aviation tag-enterpriseam tag-khaled-el-anany tag-last-nights-talk-shows tag-red-sea tag-tourism tag-vladimir-putin wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a relatively quiet night on the nation\u2019s airwaves last night,<\/strong> <strong>save for <\/strong><strong>Tourism Minister Khaled El Enany\u2019s extended interview on Ala Mas\u2019ouleety <\/strong>to suggest that we could see direct Russian flights to Red Sea destinations return \u201cin the coming few weeks,\u201d (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/228488038837145\">watch, runtime: 1:49<\/a>). Plans to resume flights hinge on the all-clear from Russian authorities to lift the six-year flight ban imposed since 2015, as Russian President Vladimir Putin agreed with President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38a0aa7e-6bfb-4d8a-b4a6-fa2b37a2301b\">in April<\/a>. You can watch the minister\u2019s full interview here (<a href=\"https:\/\/www.youtube.com\/watch?v=ZU5cpgKR3FY\">runtime: 54:16<\/a>).<\/p>\n<p><strong>Elsewhere: The talk shows were all over the latest on the treasure trove of historical artifacts which were recently discovered in an apartment in Zamalek.<\/strong> Teams formed by the Justice Ministry have confirmed that almost 2k archaeological pieces were found inside the apartment, Secretary-General of the Supreme Council of Antiquities Moustafa Waziri told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/506863907299348\">watch, runtime: 1:10<\/a>) last night. The place has been sealed by the Prosecutor\u2019s Office as investigations continue, Waziri said in a phone-in to Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=fwg8ThiGX3g\">watch, runtime: 6:41<\/a>). Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=DjTTcv_AadQ\">watch, runtime: 30:10<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=_ZWwQh5zqvA\">watch, runtime: 4:41<\/a>) also had coverage.<\/p>\n<p><strong>The apartment\u2019s owner, Hamad Abdel Fattah, who has lived outside Egypt for many years, has tried to explain the findings<\/strong>, stressing that he belongs to the royal family tree and that he had inherited the artifacts from them, though some pieces were purchased through public auctions, according to <a href=\"https:\/\/bit.ly\/3gsWgV3\">Sky News Arabia<\/a>. However, the collection and possession of all the archaeological materials is unlawful and holders could face tough penalties and jail sentences, Kelma Akhira\u2019s Lamees El Hadidi said (<a href=\"https:\/\/www.youtube.com\/watch?v=VWEvXq1zfNo\">watch, runtime: 4:30<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khaled-el-anany\/\">Khaled El Anany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"562990\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div 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272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562991\" 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=\"562991\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/egypt-france-are-trade-bffs\/\">\r\n                            Egypt + France are trade BFFs                        <\/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\/14\/egypt-france-are-trade-bffs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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-->\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\/14\/egypt-france-are-trade-bffs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562991\" class=\"content-area-description single-story post-562991 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-diplomacy tag-enterpriseam tag-france tag-investment-watch tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The foreign press is zoning in on French Finance Minister Bruno Le Maire\u2019s visit to Cairo<\/strong>, where he signed a number of contracts and agreements worth almost EUR 4 bn that will strengthen trade ties between the two countries. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-13\/france-backs-up-to-3-8-billion-euros-in-financing-for-egypt?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/egypt-france\/egypt-signs-1-7-bln-euros-of-financing-deals-with-france-idUSP8N2LY01A\">Reuters<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/business\/france-agrees-to-provide-2-2bn-in-financing-for-egypt-1.1240528\">The National<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"562992\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"562993\" 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=\"562993\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/\">\r\n                            Juhayna's former chairman sees detention extended + Contact Financial wants in on the central bank\u2019s mortgage program                        <\/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\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/\" 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\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/')\">\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\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/\">\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=Juhayna's former chairman sees detention extended + Contact Financial wants in on the central bank\u2019s mortgage program&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/\">\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\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/&title=Juhayna's former chairman sees detention extended + Contact Financial wants in on the central bank\u2019s mortgage program\">\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=Juhayna%27s+former+chairman+sees+detention+extended+%2B+Contact+Financial+wants+in+on+the+central+bank%E2%80%99s+mortgage+program+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F14%2Fjuhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program%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\/14\/juhaynas-former-chairman-sees-detention-extended-contact-financial-wants-in-on-the-central-banks-mortgage-program\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562993\" class=\"content-area-description single-story post-562993 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-contact-financial tag-debt tag-enterpriseam tag-financial-regulatory-authority tag-juhayna tag-mortgage-finance tag-non-banking-financial-services tag-safwan-thabet tag-seif-thabet wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Juhayna's ex-chairman\u2019s detention extended: <\/strong>The State Security Criminal Court has ordered that Juhayna's former Chairman Safwan Thabet\u2019s detention be extended for another 45 days while authorities investigate his alleged ties to the Ikhwan, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2352158\">Al Masry Al Youm<\/a> reports. Thabet was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cdc15cc-0715-4da4-8454-0346f8a9123c\">arrested and ordered detained in December<\/a>, initially for 15 days, a period which has been repeatedly extended. His son and Juhayna CEO, Seif Thabet, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97cd926c-9da0-496b-b89d-f3d1474c7a2c\">was also arrested<\/a> on similar allegations in February and remains in detention. Both deny being a part of the outlawed group.<\/p>\n<p><strong>Contact Financial wants in on the central bank\u2019s mortgage program: <\/strong>Contact Financial Holding is in talks with the government to take part in the CBE\u2019s subsidized mortgage program, which offers 30-year loans at a 3% interest rate, CEO Saeed Zaatar tells <a href=\"https:\/\/bit.ly\/3xl0pRU\">Hapi Journal<\/a>. The new program was launched <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/807a0ce0-3a30-4c13-a215-c7d0458b5d1f\">in March<\/a> to give low- and middle-income earners access to EGP 100 bn-worth of cheap mortgages. Contact thinks it can lend EGP 1.1-1.4 bn through the program, and expects to receive the terms for the initiative this week, Zaatar said.<\/p>\n<p>\u00a0<\/p>\n<p>AMENDED ON 14 June 2021<\/p>\n<p>We would like to clarify that Safwan Thabet is Juhayna's former Chairman and not their current one as a previous version of this story may have implied.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mortgage-finance\/\">mortgage finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safwan-thabet\/\">Safwan Thabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/seif-thabet\/\">Seif Thabet<\/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=\"562994\" 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=\"562994\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/all-is-well-in-the-us-treasury-market-for-now-at-least\/\">\r\n                            All is well in the US treasury market (for now at least)                        <\/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\/14\/all-is-well-in-the-us-treasury-market-for-now-at-least\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Traders piled into the treasury market last week leaving 10-year yields with their biggest weekly decline since June 2020 \u2014 even as new data showed inflation hitting its <a href=\"https:\/\/www.theguardian.com\/business\/2021\/jun\/10\/us-inflation-highest-rate-stocks-consumer-price-index\">highest level since 2008<\/a>.<\/p><p><strong>It was only a couple of months ago that the US bond market saw a serious sell-off and yields spike<\/strong> as investors positioned for an end to the Federal Reserve\u2019s covid bond-buying programme and \u2014 perhaps \u2014 a rise in interest rates. The theory was that the oncoming inflation would soon force central bankers to turn off the liquidity taps. Instead, central banks seem perfectly happy to let inflation rise if it means keeping the post-covid economic recovery on track.<\/p><p><strong>And this sentiment doesn\u2019t seem to have changed all that much<\/strong>, according to a BMO client survey last week, which showed that a record 71% of investors expect the next major move in yields will be upwards.<\/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>9,887<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: -8.1%)<\/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 15.60<\/p>\n<\/td>\n<td>\n<p>Sell 15.70<\/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 15.60<\/p>\n<\/td>\n<td>\n<p>Sell 15.70<\/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>10,897<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +25.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,701<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +32.8%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,842<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +14.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,247<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +13.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,134<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +10.4%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 72.80<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.31<\/p>\n<\/td>\n<td>\n<p>+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,878.70<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,832<\/p>\n<\/td>\n<td>\n<p>+7.9% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.9% at today\u2019s close<\/strong> on turnover of EGP 1.24 bn (8.1% below the 90-day average). Local investors were net sellers. The index is down 8.8% YTD.<\/p><p><strong>In the green: <\/strong>Eastern Company (+2.0%), Pioneers Holding (+1.6%) and Export Development Bank (+1.0%).<\/p><p><strong>In the red: <\/strong>Orascom Financial Holding (-3.5%), MM Group (-3.3%) and Ezz Steel (-3.1%).<\/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\/bond-market\/\">bond market<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"562995\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/strong-stem-representation-for-egyptian-women-isnt-translating-to-the-workplace\/\">\r\n                            Strong STEM representation for Egyptian women isn\u2019t translating to the workplace<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/strong-stem-representation-for-egyptian-women-isnt-translating-to-the-workplace\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Since 2011, at least 15 Education Ministry-owned STEM high schools have been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1487b25f-f4df-4b68-8474-cd25a4e94627\">set up<\/a>. Many degrees offered by international <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677dfca5-db20-46e2-8a20-ab89e11766c8\">branch campuses<\/a> are STEM-focused. And Egypt understands women are <a href=\"https:\/\/www.un.org\/en\/observances\/women-and-girls-in-science-day\">globally underrepresented<\/a> in STEM, with International Cooperation Minister Rania Al Mashat <a href=\"https:\/\/english.mubasher.info\/news\/3798455\/Egypt-to-build-greener-more-inclusive-economy-after-COVID-Rania-El-Mashat\/\">a particular advocate<\/a> for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14af5801-da9e-4e78-9871-2905b118932e\">more female participation<\/a> in STEM education programs.<\/p>\n<p><strong>The good news: Egypt\u2019s doing better than the average when it comes to women studying STEM.<\/strong> 43% of Egypt\u2019s university STEM students were women <a href=\"https:\/\/econowin.org\/girls-day-in-egypt-raising-female-passion-for-technical-and-managerial-jobs\/\">as of 2017<\/a>, compared to only <a href=\"https:\/\/www.stemwomen.co.uk\/blog\/2021\/01\/women-in-stem-percentages-of-women-in-stem-statistics\">35% in the UK<\/a>, <a href=\"https:\/\/unesdoc.unesco.org\/ark:\/48223\/pf0000253479\">and globally<\/a>.<\/p>\n<p><strong>Around 50% of Egypt\u2019s STEM graduates are women: <\/strong>Women made up 47.2% of Egypt\u2019s university science faculty student body in 2018-2019, <a href=\"https:\/\/ent.news\/2021\/6\/%D8%A7%D8%AD%D8%B5%D8%A7%D8%A1-%D8%A7%D9%84%D8%B7%D9%84%D8%A7%D8%A8.pdf\">according to CAPMAS (pdf)<\/a>. 48% of Egypt\u2019s 2015 university STEM graduates were women, says <a href=\"http:\/\/ncw.gov.eg\/wp-content\/uploads\/2019\/03\/economic-empowerment-ar.pdf\">a 2018 World Bank report (pdf)<\/a>. The <a href=\"https:\/\/unesdoc.unesco.org\/ark:\/48223\/pf0000375429\">2021 UNESCO science report<\/a> shows the percentage of female graduates by discipline using 2018 data: agriculture 49.4%; engineering 20.9%; health & welfare 56%; natural sciences 64.2%; ICT 36.8%;.<\/p>\n<p><strong>The bad news: this isn\u2019t reflected in the workplace.<\/strong> Though almost equal numbers of women and men graduate with STEM degrees, many fewer women pursue STEM careers, says <a href=\"https:\/\/ent.news\/2021\/6\/505570207-Women-in-STEM-in-Egypt-British-Council-Booklet-2021.pdf\">an April 2020 study (pdf)<\/a> commissioned by the <a href=\"https:\/\/www.britishcouncil.org.eg\/en\">British Council Egypt<\/a> and conducted by UK-based consultancy <a href=\"https:\/\/www.pivotglobaleducation.com\/\">Pivot Global Education<\/a>, released in May 2021. It used qualitative data from 22 women studying or employed in STEM fields, and quantitative online survey responses from another 63, supplemented by national and international reports and data.<\/p>\n<p><strong>Women with STEM degrees represent only 35.3% of Egypt\u2019s scientific professionals<\/strong>, <a href=\"https:\/\/www.capmas.gov.eg\/Pages\/Publications.aspx?page_id=5106&Year=16603\">a CAPMAS 2017 bulletin shows<\/a>. 67% of student participants in the British Council study said over half their counterparts were female, compared to only 45% of professionals. Female specialists working full-time in natural sciences, math and engineering make up only 18.44% of the public sector workforce, the report says.<\/p>\n<p><strong>Why the discrepancy? Workplace<\/strong> <strong>inaccessibility and gender bias, <\/strong>the study argues. Women are particularly unlikely to hold private sector STEM roles, as the long working hours expected are incompatible with other social expectations they face. They are most likely to hold academic positions, where working conditions are more compatible with family life. Supporting women to pursue STEM careers requires better policy implementation, funding and more flexible working conditions, the study argues. Concrete steps must be taken to advance female leadership, including clearer pathways to promotion and a pushback against rigid gender norms discouraging women from pursuing disciplines like engineering.<\/p>\n<p><strong>Egypt exceeds global averages for women in STEM research:<\/strong> 46% of Egypt\u2019s total number of scientific researchers are women, according to <a href=\"https:\/\/unesdoc.unesco.org\/ark:\/48223\/pf0000375429\">2018 UNESCO data<\/a>. The global average percentage of female researchers is 33.3%, while in the Arab World it\u2019s 42.6% and within the EU 33.8%.<\/p>\n<p><strong>But female researchers still miss out on state support:<\/strong> Women made up an estimated 54% of researchers in Egypt\u2019s scientific research centers in 2018, but only 15% of them received state awards and only 13% registered patents, according to Mahmoud Sakr, president of Egypt\u2019s <a href=\"http:\/\/asrt.sci.eg\/\">Academy for Scientific Research and Technology (ASRT)<\/a>.<\/p>\n<p><strong>Ultimately, many Egyptian women wanting careers in STEM will enter academia. <\/strong>Most STEM professionals in the British Council study worked as lecturers and professors, with fewer than 10% working in industry or as researchers. Medicine, engineering and research are particularly competitive fields, where securing permanent positions is difficult, say interviewees. But even academia \u2014 more viable than other STEM fields \u2014 is difficult for women to find permanent, well-paid positions in, the study says.<\/p>\n<p><strong>Women in research hold leadership roles, but men are still at the top of the food chain.<\/strong> The UNESCO report breaks down the share of Egyptian female science researchers by seniority grade, using 2018 data: 51.2% PhD students or junior researchers; 46.2% assistant professors or post-doctoral Fellows; 39.4% senior researchers or associate professors; 35.5% directors of research or professors.<\/p>\n<p><strong>It\u2019s clear: gender bias \u2014 not academic performance \u2014 prevents women from entering and progressing in STEM careers.<\/strong> Many fewer women work as STEM professionals than graduated with STEM degrees largely because of social norms and sector prejudice, the British Council study argues. Gender bias \u2014 including remarks by colleagues, being overlooked for promotion, inflexible hours, and deliberate exclusion \u2014 is a key feature of the respondents\u2019 professional lives.<\/p>\n<p><strong>STEM gender norms are particularly rigid:<\/strong> Women in STEM are often discouraged from pursuing particular disciplines, like engineering or certain specializations within medicine and research. This applies especially to biology, petroleum engineering and certain medical fields, where women might be in close contact with people outside of their immediate family, the study notes.<\/p>\n<p><strong>This correlates with global gender indexing, where Egypt scores higher in education than economic participation:<\/strong> Egypt was ranked 129 in the <a href=\"http:\/\/www3.weforum.org\/docs\/WEF_GGGR_2021.pdf\">Global Gender Gap Report 2021 (pdf)<\/a>, which benchmarks gender gaps in 156 countries according to four metrics. Egypt ranks 105 under educational attainment, but 146 under economic participation.<\/p>\n<p><strong>So how can academic STEM representation better translate to the workplace? Through more inclusive, better implemented policies. <\/strong>60% of women interviewed believe institutional policies supporting women in STEM should be better implemented and more inclusive. They want more flexible hours, policies aligned with childcare, and more avenues for promotion.<\/p>\n<p><strong>And support for women to advance to senior leadership positions: <\/strong>This could involve professional development workshops and career support programs for women, interviewees say. Funding should be allocated to mentorship programs that help women advance in STEM fields, and to research that assesses the role of geographic location and economic background in women pursuing STEM studies and careers.<\/p>\n<p><strong>Let\u2019s not forget more data:<\/strong> UNESCO terms the lack of comprehensive data on gender trends a \u201cchronic problem,\u201d impacting countries throughout the world. Measuring the scale of gender disparity in science is the first step to changing it, it notes.<\/p>\n<p><strong>The bottom line:<\/strong> The relatively high numbers of Egyptian women studying STEM subjects represent a chance to increase gender parity in STEM fields. But concrete support is needed to translate women\u2019s academic engagement in STEM into participation in the workplace.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>CIRA to set up new language school in New Rashid: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58e37e0e-2aa0-462d-90bd-bfb7fde91daa\">project<\/a> will be located in the new city\u2019s Bashayer El Kheir low-cost housing district, and has already received technical clearance.<\/li>\n<li><strong>Henkel Egypt is taking part in GIZ\u2019s ProGirls project to help girls explore new fields:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4aec8dd7-d5a5-4922-b866-e2a39ab076c1\">course<\/a>, which will end on 11 October, will see elected participants, accompanied by a Henkel employee, trained online or in-person during the summer vacation to explore fields such as science, technology, engineering and mathematics.<\/li>\n<li><strong>A new HQ for Francophone University Agency in Cairo University:<\/strong> The Higher Education Ministry has <a href=\"https:\/\/www.facebook.com\/photo?fbid=338884890927685&set=a.333444448138396\">signed a contract<\/a> with the Montreal-based association to open a new head office in Cairo University to improve students\u2019 research and education skills. <\/li>\n<li><strong>Tech upgrade at Zagazig University:<\/strong> A \u201cdigital creativity\u201d center will be established in the public university to improve students\u2019 tech skills under <a href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/337645384384969\">an agreement<\/a> signed between the higher education and communications ministries.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/academy-for-scientific-research-and-technology-asrt\/\">Academy for Scientific Research and Technology (ASRT)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oecd\/\">OECD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stem\/\">STEM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unesco\/\">UNESCO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"562997\" 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\/14\/your-essential-business-calendar-on-14-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-562997\" class=\"content-area-description single-story post-562997 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>11-14 June (Friday-Monday): Egypt <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 hosts the third edition of the <a href=\"https:\/\/ent.news\/2021\/5\/3rd-Forum-on-Strategies-For-Transition-To-Green-Economy-AR.pdf\">Green Economy Forum (pdf)<\/a>.<\/p>\n<p>15 June (Tuesday): Arab League meets to discuss the GERD in Doha.<\/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>20 June (Sunday): Deadline for Enpact + Tui + GIZ <a href=\"https:\/\/ent.news\/2021\/6\/070621_Egypt-Press-Release_ENG.pdf\">tourism recovery program (pdf)<\/a>.<\/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\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":562972,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-562971","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"eeda33d1-87f7-4b75-979b-a2f50deb42a2","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/177.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>Good news on everything from IPOs to investment and the end of the third wave - 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\/good-news-on-everything-from-ipos-to-investment-and-the-end-of-the-third-wave\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Good news on everything from IPOs to investment and the end of the third wave\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/good-news-on-everything-from-ipos-to-investment-and-the-end-of-the-third-wave\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T03:55:25+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\/177.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\/good-news-on-everything-from-ipos-to-investment-and-the-end-of-the-third-wave\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/good-news-on-everything-from-ipos-to-investment-and-the-end-of-the-third-wave\/\",\"name\":\"Good news on everything from IPOs to investment and the end of the third wave - 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