{"id":563186,"date":"2021-06-22T03:50:32","date_gmt":"2021-06-22T03:50:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=563186"},"modified":"2025-12-16T04:00:30","modified_gmt":"2025-12-16T04:00:30","slug":"tawasol-limevest-make-their-move-for-alex-medical","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/tawasol-limevest-make-their-move-for-alex-medical\/","title":{"rendered":"Tawasol, LimeVest make their move for Alex Medical"},"content":{"rendered":"<section id=\"563188\" 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=\"563188\">\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\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/\">\r\n                            THIS MORNING: GERD diplomacy; CIB PSA World Tour Finals starts today; elections in Ethiopia.                        <\/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\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/\" 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\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/')\">\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\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/\">\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: GERD diplomacy; CIB PSA World Tour Finals starts today; elections in Ethiopia.&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/\">\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\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/&title=THIS MORNING: GERD diplomacy; CIB PSA World Tour Finals starts today; elections in Ethiopia.\">\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+GERD+diplomacy%3B+CIB+PSA+World+Tour+Finals+starts+today%3B+elections+in+Ethiopia.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Fthis-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia%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\/22\/this-morning-gerd-diplomacy-cib-psa-world-tour-finals-starts-today-elections-in-ethiopia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563188\" class=\"content-area-description single-story post-563188 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abiy-ahmed tag-diplomacy tag-enterpriseam tag-ethiopia tag-gerd tag-irrigation-ministry tag-mohamed-abdel-aty tag-politics tag-south-sudan tag-water tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, everyone, and welcome to a typical \u201c2021\u201d news day<\/strong> led by stories on covid vaccines as well as M&amp;A in healthcare and non-bank financial services. Not \u201c2021 enough\u201d for you? We also have talk about Ethiopia and GERD, rail accidents, privatization and the global commodities boom. Does it get any more \u201c2021\u201d than that?<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>Irrigation Minister Mohamed Abdel Aty <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/161275432709552\">is on a four-day visit to South Sudan<\/a><\/strong> that kicked off yesterday with talks with the country\u2019s foreign minister, the ministry said in <a href=\"https:\/\/www.facebook.com\/mwrifb\/posts\/158165639681349\">a statement<\/a>. The two discussed the dispute over the Grand Ethiopian Renaissance Dam (GERD) and a joint higher committee meeting set to take place in Cairo next month. <strong>Also o<\/strong><strong>n the agenda:<\/strong> Aty will meet his Sudanese counterpart Manawa Peter to discuss joint water initiatives, before visiting several projects that Egypt is involved in.<\/p><p><strong>GERD diplomacy?<\/strong> The irrigation minister\u2019s visit to the upstream Nile country comes as Egypt tries to get other countries on side to support its position in the dispute over the GERD. In past weeks, Egypt has strengthened military ties with several states, signing defense agreements with <a href=\"https:\/\/www.arabnews.com\/node\/1818626\/middle-east\">Sudan<\/a>, <a href=\"https:\/\/dailynewsegypt.com\/2021\/05\/26\/egypt-kenya-sign-technical-agreement-on-defence-cooperation\/\">Kenya<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/996b5566-c5ba-4bef-82a9-7ba8ff0c6163\">Uganda and Burundi<\/a>, while President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8be1d9d-d6a8-4a51-a448-5cc8c7c9e637\">visited Djibouti<\/a> for talks with the country\u2019s president.<\/p><p><strong>It\u2019s day one of the 2020-2021 <\/strong><strong><a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11445\">CIB PSA World Tour Finals<\/a><\/strong><strong>.<\/strong> Today, world no.1 Ali Farag faces <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/10912?tab=mens_results\">defending champion<\/a> Marwan El Shorbagy, while women\u2019s no.1 Nour El Sherbini plays France\u2019s Camille Serme and last year\u2019s quarter-finalist Nouran Gohar faces fellow Egyptian Salma Hany. The tournament will run through Saturday, 27 June.<\/p><p><strong>***CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of <strong>EnterprisePM:<\/strong><\/p><ul>\n<li><strong>Tuk-tuk owners can apply to swap their vehicles for natgas microbuses next month:<\/strong> Tuk-tuks <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">can now take part<\/a> in the natgas vehicle swap scheme and will receive financial support and reduced interest rates, while cabinet is also expected to recommend reducing the cost of tuk-tuk licensing.<\/li>\n<li><strong>EFG, TMG, GB Capital mortgage arm Bedaya plans securitization before 2021 is out: <\/strong>Mortgage provider Bedaya is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26bb8917-5055-4aec-a842-5958e274a315\">planning to sell<\/a> securitized bonds backed by its receivables before the end of the year to finance new branches.<\/li>\n<li><strong>Egyptian digital trucking platform Trella has closed a USD 42 mn funding round co-led by Maersk Growth: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85f214d3-40dd-4236-b156-ddf241385e11\">financing includes<\/a> USD 30 mn new equity and USD 12 mn in debt, which will likely go towards the company\u2019s plans to scale its operations in the MENA + Pakistan region.<\/li>\n<\/ul><p><strong>HAPPENING SOUTH OF THE BORDER-<\/strong><\/p><p><strong>Ethiopians are going to the polls as Prime Minister Abiy Ahmed stands for reelection.<\/strong> The country\u2019s first multiparty elections in 16 years have faced major hurdles, with an ongoing ethnic conflict in the Tigray region, opposition boycotts, and logistical difficulties. Though voters went to the polls across much of the country yesterday, four of Ethiopia\u2019s 10 regions were unable to open voting booths, and in two that did, the country\u2019s election authority reported intimidation of election observers. Abiy, who is expected to win, <a href=\"https:\/\/twitter.com\/AbiyAhmedAli\/status\/1404307114617626626\">tweeted<\/a> ahead of the vote that it would be Ethiopia's \"first attempt at free and fair elections.\" <a href=\"https:\/\/apnews.com\/article\/africa-ethiopia-government-and-politics-181c742d6040aeddc5076e318080087e\">The Associated Press<\/a> and <a href=\"https:\/\/www.reuters.com\/world\/africa\/ethiopians-vote-what-government-bills-first-free-election-2021-06-20\/\">Reuters<\/a> have the story.<\/p><p><strong>It\u2019s a mixed picture in the global front pages this morning<\/strong>, with no single story getting widely picked up:<\/p><ul>\n<li><strong>The market yesterday:<\/strong> <a href=\"https:\/\/www.cnbc.com\/2021\/06\/20\/stock-market-futures-open-to-close-news.html\">CNBC<\/a> and <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-062121-11624255506?mod=hp_lead_pos1\">the Wall Street Journal<\/a>are focusing on the strong \u2014 and slightly unexpected \u2014 gains in US shares yesterday (more on that below).<\/li>\n<li><strong>Covid in the US of A:<\/strong> We have competing visions of the state of the US\u2019 covid epidemic, with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-21\/delta-variant-seen-spreading-in-undervaccinated-u-s-counties?srnd=premium\">Bloomberg<\/a> warning of the spread of the delta variant and <a href=\"https:\/\/apnews.com\/article\/joe-biden-us-news-ap-top-news-nyc-state-wire-ny-state-wire-21c3695fa27b59d65f05f3ac71fdcf55\">the Associated Press<\/a> more optimistically running with the low death rates, which have fallen below 300 per day for the first time since March 2020.<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH- Yesterday wasn\u2019t quite as rocky as we thought it would be:<\/strong> US stocks saw their biggest daily gains in five weeks yesterday as concerns about a less dovish stance at the Federal Reserve abated, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-20\/asia-stocks-seen-lower-with-reflation-trade-eyed-markets-wrap?sref=mmeFTDW1\">Bloomberg<\/a> says. The S&amp;P 500 gained 1.4% during the day, led by energy, financial and industrial shares, while the Dow climbed 1.8% and the Nasdaq finished 0.6% up. The gains came despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72e81a89-232c-48d7-9ccd-3e3045641d9a\">volatility in Asian markets<\/a> earlier in the day, which saw the Nikkei lose some 3.5%.<\/p><p><strong>Stocks in Europe and the US saw heavy losses last week<\/strong> on the back of the Federal Reserve\u2019s policy meeting, after which it suggested it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/171abcbc-6a2e-44d9-a4e8-12073398c8ab\">could raise interest rates in 2023<\/a> \u2014 a year earlier than investors had anticipated.<\/p><p><strong>Don\u2019t be surprised if there\u2019s more volatility ahead:<\/strong> Former Treasury Secretary Lawrence Summers and bn\u2019aire hedge fund investor Ray Dalio have warned that rising inflation and an overheating economy could upend the recovery and send jolts through financial markets, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-21\/dalio-summers-still-see-u-s-overheating-risk-after-hawkish-fed?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Speaking at the Qatar Economic Forum yesterday, Dalio said that record high valuations mean that market and economy alike will be \u201cvery sensitive\u201d to attempts by the Fed to roll back its ultra-loose policy. \u201cJust the slightest touching on those brakes has the effect of hurting markets because of where they\u2019re priced, and also passing through to the economy,\u201d he said.<\/p><p><strong>HOW THINGS LOOK TODAY: Asian markets are rebounding strongly<\/strong> from yesterday\u2019s losses while futures point to European and US shares building on gains when markets open later today.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a><strong> SIGN OF THE TIMES- Solar falls victim to inflation pressures: <\/strong>After the industry has tried (and succeeded) for decades in bringing the cost of solar down, the global commodities boom could throw a wrench at the whole endeavor. Citigroup analysts are penciling in an increase of 12% in the cost of new solar installations this year on the back of fast-increasing steel and polysilicon prices and higher freight costs, <a href=\"https:\/\/www.ft.com\/content\/2f8dd951-a1b1-410a-89dd-14728c56235d\">the Financial Times<\/a> reports, citing data and analyst forecasts. Hot-dipped galvanised steel coils and monocrystalline silicon cells rose, two key components used in making panels. Galvanized steel coil prices doubled since early 2020, while silicon cell prices rose 25%, data from S&amp;P Platts and BloombergNEF showed.<\/p><p><strong>Sound smart:<\/strong> The cost of solar energy fell some 80% between 2010 and 2020 as rising demand and advances in technology together drove down the cost of infrastructure.<\/p><p><strong>SIGN OF THE TIMES #2- Your laptops and tablets are going to get more expensive: <\/strong>It appears that consumer electronics manufacturers have begun passing the increased costs from the global chip shortage down to the consumer, with Dell, HP, Asus, and Amazon reporting price increases on their upcoming models between 6-20%, according to a <a href=\"https:\/\/www.wsj.com\/articles\/chip-shortages-are-starting-to-hit-consumers-higher-prices-are-likely-11624276801?mod=hp_lead_pos6\">Wall Street Journal<\/a> piece citing industry executives. These run the gamut of smartphones, tablets, all the way to printers. This comes as the prices of components have risen between 15-40%.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The African Development Bank\u2019s<\/strong> <strong><a href=\"https:\/\/am.afdb.org\/en\/news\/african-development-bank-group-hold-annual-meetings-virtually-23-25-june-2021\">annual meeting<\/a><\/strong> takes place this week (virtually, of course), running 23-25 June.<\/p><p><strong>It\u2019s the last day of the academic year for public school students this week<\/strong>, who will attend their last day on Thursday, 24 June.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>In this multi-part series, we\u2019ve looked at how construction materials are among Egypt\u2019s biggest sources of pollution, though some companies are making efforts to reduce their environmental impact. In part four, we look at how alternatives to traditional construction materials are being used in Egypt. We\u2019ve found that both natural and industrially-produced materials are being used in highly innovative ways \u2014 mainly by rapidly growing startups \u2014 but that their overall market share remains low.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abiy-ahmed\/\">Abiy Ahmed<\/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\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/irrigation-ministry\/\">Irrigation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-abdel-aty\/\">Mohamed Abdel Aty<\/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\/south-sudan\/\">South Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"563189\" 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=\"563189\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/563189\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563189\" class=\"content-area-description single-story post-563189 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/SOMA-ENTERPRISE-EQF-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563190\" 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=\"563190\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/\">\r\n                            Tawasol, LimeVest make their move for Alex Medical                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/279.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563191\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/279-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/279.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"279.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/279.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/279.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563190\" class=\"content-area-description single-story post-563190 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-alexandria-medical-services tag-alexandria-national-company-for-financial-investments tag-enterpriseam tag-hong-kong tag-limevest tag-ma-watch tag-tawasol-holdings tag-zeta-investments 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>Tawasol-LimeVest consortium launches Alex Medical takeover bid:<\/strong> A consortium of Tawasol Holdings and LimeVest affiliate Maternity and Pediatrics Holding has made its move in the race for Alexandria Medical Services, submitting a bid that values the company at more than EGP 740 mn. The companies have submitted a request to go ahead with a mandatory tender offer (MTO) to acquire a 74.08% stake in the company at EGP 52 per share, the Financial Regulatory Authority <a href=\"https:\/\/ent.news\/2021\/6\/Alex-Medical-Tawasol-Maternity.pdf\">said (pdf)<\/a> yesterday. Tawasol is already a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a108ea38-12e7-4974-9c7c-e191893d0399\">26% shareholder<\/a> in Alex Medical, and the acquisition would give the consortium 100% ownership. Abu Dhabi Commercial Bank is the main seller, and is looking to exit its 51.5% stake.<\/p>\n<p><strong>This is higher than the bid submitted by Tana Africa\u2019s TAT Medical Services,<\/strong> which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5dda1b5-e29d-44de-adad-25b7807093f7\">bid<\/a>for Alex Medical at EGP 49.04 per share earlier this month, up from the EGP 45.53 it had offered in May. This came a few days after Yas Holding, the parent company of the UAE\u2019s Global One Healthcare Holding, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/324b0f80-415a-4f55-93a2-f4bef5c8108d\">offered EGP 47.98 per share<\/a> for at least 51% of the company. Other <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59b30537-c789-4c00-803e-ddd0deea56ef\">bidders<\/a> include Cleopatra Hospital (it\u2019s offering <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8bcdeedc-6ea2-4492-adf0-c0dad0bff1f1\">EGP 38.53 per share)<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bff7ea3a-f34e-4238-b629-12b7f6c96d6e\">Nile Scan<\/a> and healthcare investment firm Seha Capital.<\/p>\n<p><strong>Speed Medical <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9a165d3-7d1b-4ace-8b1f-2393f9e7d989\">withdrew in May<\/a><\/strong><strong> from the Tawasol-LimeVest consortium<\/strong>, which had previously offered EGP 38.09 per share last April for 100% of Alex Medical.<\/p>\n<p><strong>IN OTHER M&A NEWS-<\/strong><\/p>\n<p><strong>The price war for that other hot Alex company is heating up:<\/strong> Hong Kong\u2019s Zeta Investments has raised its MTO for 90% of Alexandria National Company for Financial Investments (ANFI), to EGP 6 apiece, up from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8b832c1-0280-4875-9ef1-e16439b68a93\">EGP 5.48<\/a> per share it submitted in mid-June, according to a <a href=\"https:\/\/ent.news\/2021\/6\/ANFI-Zeta.pdf\">statement (pdf)<\/a> by the Financial Regulatory Authority. The new offer values ANFI at EGP 31.35 mn. Subscription period for Zeta's MTO ends on Monday, 28 June. The offer was launched last week after obtaining the FRA\u2019s approval.<\/p>\n<p><strong>The bids keep rolling in:<\/strong> The revised offer comes one day after private equity firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4a5e513-d04e-492f-b052-e686a8046e1d\">Compass Capital<\/a> has submitted an MTO to acquire up to 100% of ANFI for EGP 5.72 per share. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4871b8d6-2744-4108-af2b-d3ef0dc80a02\">Tycoon Holding<\/a> wants to acquire a 90% stake for EGP 5.60 per share.<\/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\/alexandria-medical-services\/\">Alexandria Medical Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-national-company-for-financial-investments\/\">Alexandria National Company for Financial Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hong-kong\/\">Hong Kong<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/limevest\/\">LimeVest<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tawasol-holdings\/\">Tawasol Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zeta-investments\/\">Zeta Investments<\/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=\"563192\" 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=\"563192\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/\">\r\n                            The US is donating more vaccines to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The US is donating more vaccines to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/&title=The US is donating more vaccines to Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+US+is+donating+more+vaccines+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Fthe-us-is-donating-more-vaccines-to-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/the-us-is-donating-more-vaccines-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563192\" class=\"content-area-description single-story post-563192 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-us 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-02\"><\/a> <strong>Egypt will receive a share of 14 mn vaccines allocated by the US to at least 30 ot<\/strong><strong>her \u201cregional priority\u201d countries<\/strong>, the White House <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/06\/21\/fact-sheet-biden-harris-administration-announces-allocation-plan-for-55-million-doses-to-be-shared-globally\/\">said<\/a> yesterday without giving a more detailed breakdown.<\/p>\n<p><strong>This is part of a second, 55 mn-dose tranche of vaccines to be handed out by the US<\/strong> under the Biden administration\u2019s pledge to distribute 80 mn shots around the world. The first batch, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/190f4214-6152-4290-bcb5-d7330bb9dad3\">announced earlier this month<\/a>, will see 6 mn doses divided between Egypt and 13 other countries. It remains unclear how many of the the shots will be allocated to each nation.<\/p>\n<p><strong>When could we receive these jabs? It\u2019s likely to be a longer process than first thought: <\/strong>Having originally pledged to send the 80 mn doses by the end of June, the White House is now saying that it will \u201callocate\u201d them by the end of the month, suggesting shipments will stretch into July or beyond.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/117275513917005\">reported<\/a><\/strong><strong> 509 new covid-19 infections yesterday<\/strong>, down from 532 the day before. Egypt has now disclosed a total of 277,797 confirmed cases of covid-19. The ministry also reported 39 new deaths, bringing the country\u2019s total death toll to 15,898.<\/p>\n<p><strong>Africa\u2019s vaccine rollout could get a shot in the arm with a new mRNA vaccine production <\/strong><strong>facility<\/strong> the World Health Organization (WHO) is planning to set up in South Africa.<\/p>\n<p>The WHO plans to establish the new \u201ctechnology transfer hub\u201d \u2014 deemed the first of its kind in Africa \u2014 alongside a South African-French consortium, it said in <a href=\"https:\/\/www.who.int\/news\/item\/21-06-2021-who-supporting-south-african-consortium-to-establish-first-covid-mrna-vaccine-technology-transfer-hub\">a statement<\/a> yesterday. Production of mRNA-based vaccines, such as the jabs developed by BioNTech \/ Pfizer and Moderna, could start when the plant is up and running in 9-12 months\u2019 time, WHO boss Tedros Ghebreyesus told a news conference yesterday, <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/who-setting-up-hub-make-covid-19-vaccines-safrica-tedros-2021-06-21\/\">Reuters<\/a> reported.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"563193\" 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=\"563193\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/private-sector-could-bid-for-some-of-egyptian-iron-and-steels-land-bank\/\">\r\n                            Private sector could bid for some of Egyptian Iron and Steel\u2019s land bank                        <\/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\/22\/private-sector-could-bid-for-some-of-egyptian-iron-and-steels-land-bank\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The New Urban Communities Authority has been put in charge of preparing the sale, a process which is expected to take 2-3 months, he said.<\/p>\n<p><strong>How much land is potentially up for grabs?<\/strong> Egyptian Iron and Steel owns <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\">6 mn sqm of land<\/a>. We\u2019ll likely find out how much of this will be auctioned off to private sector firms after NUCA has finished doing its thing later in 3Q.<\/p>\n<p><strong>This comes as part of Iron and Steel\u2019s ongoing liquidation <\/strong>\u2014 a process expected to take up to two years that will see the perennial lossmaker <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bad9da9-4715-4ca2-af68-dc753167b285\">sell its land assets<\/a> to pay off EGP 9 bn in debts. Egyptian Iron and Steel officially halted its operations in late May until a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10194695-2331-4eae-ba4a-97a700f9070f\">compensation agreement<\/a> is reached with employees.<\/p>\n<p><strong>The process has so far given us the newest entrant to the EGX: <\/strong>Iron and Steel\u2019s mining operations have been spun off to form a new company, Iron and Steel for Mines and Quarries, whose c.978 mn shares <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10194695-2331-4eae-ba4a-97a700f9070f\">began trading on the EGX<\/a> at the end of May.<\/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\/egyptian-iron-and-steel\/\">Egyptian Iron and Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"563195\" 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=\"563195\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\">\r\n                            Of Export subsidies and Africa\u2026                        <\/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\/22\/of-export-subsidies-and-africa\/\" 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\/22\/of-export-subsidies-and-africa\/')\">\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\/22\/of-export-subsidies-and-africa\/\">\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=Of Export subsidies and Africa\u2026&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/\">\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\/22\/of-export-subsidies-and-africa\/&title=Of Export subsidies and Africa\u2026\">\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=Of+Export+subsidies+and+Africa%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Fof-export-subsidies-and-africa%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\/22\/of-export-subsidies-and-africa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/281.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563196\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/of-export-subsidies-and-africa\/281-jpg-48\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/281.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"281.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/281.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/281.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563195\" class=\"content-area-description single-story post-563195 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-africa tag-egyptian-businessmen-association tag-enterpriseam tag-export-subsidy-fund 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-04\"><\/a> <strong>The Export Subsidy Fund has paid out EGP 4.3 bn in arrears to exporters<\/strong> as part of the second stage of the subsidy program, which ran through February, Trade Minister Nevine Gamea said in a <a href=\"https:\/\/www.facebook.com\/photo?fbid=161041192732976&set=a.144073987763030\">statement<\/a> yesterday. The fund has paid out some EGP 27 bn in arrears since the launch of the program last year, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5860d554-ec83-4cee-9ae1-d8f1809bacb8\">allowed companies to receive overdue subsidies in bulk<\/a> instead of in installments over several years, provided that they agree to take a 15% haircut.<\/p>\n<p><strong>The new incarnation of the subsidy program will launch in July:<\/strong> As of FY2021-2022, exporters in the automotive, ceramics, pharma, electronics, and chemicals industries will be eligible to sign up to the program for the first time, the ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5207b7b8-2250-409c-8016-5f52c955883b\">said last week<\/a>. <strong>The program will feature specific incentives to trade with other African countries<\/strong>, and will run for three years for most sectors except the auto industry, which will continue to receive support until 2028.<\/p>\n<p><strong>Egypt has weak trading links with Africa:<\/strong> Africa accounted for just 1% of<sup><\/sup><sup><\/sup> Egypt\u2019s total trade in FY2019-2020, according to government data.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/08\/afcftas-operational-phase-launched-at-au-summit\/\">new African trade zone<\/a><\/strong><strong> is hoped to boost continental trade<\/strong> by lowering tariff and non-tariff barriers to trade and strengthening regional supply chains. Egypt ratified the agreement in 2019 and <a href=\"https:\/\/au.int\/en\/pressreleases\/20210104\/african-business-council-applauds-start-trading-basis-afcfta\">began trading under its terms at the beginning of 2021<\/a>.<\/p>\n<p><strong>The Egyptian Businessmen Association (EBA) is also eyeing up Africa:<\/strong> The industry association is considering establishing a consortium to compete for infrastructure and grand reconstruction projects in Africa, Deputy board Chairman Fathallah Fawzi said during an EBA webinar, <a href=\"https:\/\/hapijournal.com\/2021\/06\/21\/%D8%AC%D9%85%D8%B9%D9%8A%D8%A9-%D8%B1%D8%AC%D8%A7%D9%84-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D8%A3%D8%B3%D9%8A%D8%B3-%D9%83%D9%88%D9%86%D8%B3%D9%88%D8%B1%D8%AA\/\">Hapi Journal<\/a> reports. The consortium would include construction, contracting and consulting firms, as well as government entities, and would further Egypt\u2019s goals to deepen trade ties with other African markets. Egypt had also been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5ec9946-d3df-4886-a6a6-125ce338e42f\">mulling<\/a> joining a USD 1 bn continental transit [assurance] scheme to encourage trade across Africa.<\/p>\n<p><strong>EBA members also took part in a two-day ICT sector networking event for African and <\/strong><strong>European companies ending today<\/strong> \u2014 according to <a href=\"https:\/\/bit.ly\/3cYL8OV\">Masrawy<\/a> \u2014 in a meeting that aims to provide a gateway to new markets for companies operating in Egypt and Africa.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-businessmen-association\/\">Egyptian Businessmen Association<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/export-subsidy-fund\/\">export subsidy fund<\/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=\"563197\" 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=\"563197\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/563197\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563197\" class=\"content-area-description single-story post-563197 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563198\" 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=\"563198\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/train-crash-14067-of-2021-dominates-the-talk-shows-on-22-june-2021\/\">\r\n                            Train crash #14,067 of 2021 dominates the talk shows on 22 June 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/train-crash-14067-of-2021-dominates-the-talk-shows-on-22-june-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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One of the microbuses appears to have parked \u201ctoo close\u201d to the rail line near a high-density town when the train smashed into it and grazed the other vehicle, the Railway Authority <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/118065107157221\">said<\/a>. The Public Prosecution has ordered an investigation into the causes of the crash.<\/p>\n<p><strong>Transport Minister Kamel El Wazir dropped into El Hekaya to explain the events<\/strong> and blamed illegal construction encroaching on rail lines for contributing to the accident (<a href=\"https:\/\/www.youtube.com\/watch?v=JNro-wrhHAc\">watch, runtime: 2:23<\/a>). President Abdel Fattah El Sisi has ordered the removal of all illegal buildings along rail lines across the country and told officials to compensate residents, he said (<a href=\"https:\/\/www.youtube.com\/watch?v=MasJEWSMO20\">watch, runtime: 1:08<\/a>). Ala Mas\u2019ouleety (watch, runtime: <a href=\"https:\/\/www.facebook.com\/baladtv\/videos\/507503637339226\">33:52<\/a> | <a href=\"https:\/\/www.facebook.com\/baladtv\/videos\/359212402293823\">39:21<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=S2dRLGnymLk\">watch, runtime: 1:27<\/a>) and Al Qahera Wel Nas (<a href=\"https:\/\/www.youtube.com\/watch?v=h5xsLWloT_4\">watch, runtime: 2:10<\/a>) also had coverage.<\/p>\n<p><strong>2021 hasn\u2019t been good to Egypt\u2019s railways:<\/strong> Yesterday\u2019s collision makes even clearer the problems faced by Egypt\u2019s railways, which earlier this year witnessed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/213076e5-39b0-4bb2-9752-97fc4e66962f\">four fatal accidents<\/a> in the space of a month.<\/p>\n<p><strong>Elsewhere, politics got a look-in: <\/strong> Greek Prime Minister Kyriakos Mitsotakis <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6dd6650-e118-4b26-9525-d935327b21cc\">was in Cairo<\/a> for talks with President Abdel Fattah El Sisi and <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/161308092706286\">Prime Minister Moustafa Madbouly<\/a>, his joint press conference with El Sisi got the attention of most of the nation\u2019s talking heads. The presser saw both sides agreeing to push ahead plans for linking our electricity grid to that of Greece and Cyprus. There are ongoing studies for ways to expand the interconnection project\u2019s capacity to generate up to 600 MW of electricity, and negotiations are underway for an agreement between the two countries in the near future, Electricity Ministry spokesman Ayman Hamza said in a phone-in to Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/765741864120837\">watch, runtime: 32:40<\/a>) last night. El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=SV6hLZpMWXw\">watch, runtime: 10:10<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=3CTihPhrELk\">watch, runtime: 4:01<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=xw4Tt9a_RpA\">watch, runtime: 4:07<\/a>) also covered the presser.<\/p>\n<p><strong>It wouldn\u2019t be a night of Egyptian talk shows with GERD getting a mention:<\/strong> The EU\u2019s special representative for Sudan, Pekka Haavisto, issued <a href=\"https:\/\/suna-sd.net\/read?id=715602\">a statement yesterday<\/a> calling on Ethiopia to re-negotiate with Egypt and Sudan on the filling and operation of the Grand Ethiopian Renaissance Dam, and at least reach an interim settlement agreement before the rainy season begins in a few weeks. Haavisto\u2019s statement shows that the EU, along with the African Union and UN, back Cairo and Khartoum\u2019s position in the dispute and will not allow harm to befall them, former Assistant Foreign Minister Mohamed Hegazy told Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=sv5paAnWAOc\">watch, runtime: 7:04<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-union\/\">African Union<\/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\/eu\/\">EU<\/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\/kamel-el-wazir\/\">Kamel El Wazir<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"563199\" 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=\"563200\" 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=\"563200\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/human-rights-top-of-the-agenda-again-in-the-foreign-press\/\">\r\n                            Human rights top of the agenda again in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/human-rights-top-of-the-agenda-again-in-the-foreign-press\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/human-rights-top-of-the-agenda-again-in-the-foreign-press\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/human-rights-top-of-the-agenda-again-in-the-foreign-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Human+rights+top+of+the+agenda+again+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Fhuman-rights-top-of-the-agenda-again-in-the-foreign-press%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/human-rights-top-of-the-agenda-again-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563200\" class=\"content-area-description single-story post-563200 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-education tag-egyptian-initiative-for-personal-rights tag-enterpriseam tag-human-rights tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Human rights are capturing the attention of the foreign press again this morning:<\/strong> In a podcast, <a href=\"https:\/\/www.theguardian.com\/australia-news\/audio\/2021\/jun\/22\/egypts-crackdown-on-human-rights-workers\">the Guardian<\/a> speaks to Egyptian human rights worker Karim Ennarah about his experiences when he <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3dca1181-44b8-45fb-9762-57a6f61e7e32\">was arrested by authorities<\/a> last year, while Italy\u2019s <a href=\"https:\/\/www.ansamed.info\/ansamed\/en\/news\/nations\/italy\/2021\/06\/21\/patrick-zaki-in-preventive-custody-for-500-days_8e7c63c8-980c-4eca-84d0-92627bbc9424.html\">Ansamed<\/a> took note of the continued detention of Bologna University student Patrick Zaky, who was arrested back in February 2020 on charges of inciting against the state.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-initiative-for-personal-rights\/\">Egyptian Initiative for Personal Rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563201\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563202\" 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=\"563202\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/malaysian-investment-coming-to-the-sczone\/\">\r\n                            Malaysian investment coming to the SCZone?                        <\/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\/22\/malaysian-investment-coming-to-the-sczone\/\" 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\/22\/malaysian-investment-coming-to-the-sczone\/')\">\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\/22\/malaysian-investment-coming-to-the-sczone\/\">\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=Malaysian investment coming to the SCZone?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/malaysian-investment-coming-to-the-sczone\/\">\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\/22\/malaysian-investment-coming-to-the-sczone\/&title=Malaysian investment coming to the SCZone?\">\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=Malaysian+investment+coming+to+the+SCZone%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Fmalaysian-investment-coming-to-the-sczone%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\/22\/malaysian-investment-coming-to-the-sczone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563202\" class=\"content-area-description single-story post-563202 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-amer-group tag-egyptian-national-railways tag-enterpriseam tag-kamel-el-wazir tag-malaysia tag-orange-egypt tag-suez-canal-economic-zone tag-transport tag-yehia-zaki 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>Malaysian investment in the SCZone?<\/strong> Malaysian Foreign Minister Hishammuddin Hussein yesterday discussed investing in the Suez Canal Economic Zone during talks with SCZone Chairman Yehia Zaki, cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/161153302721765\">a statement<\/a>. The statement appears to suggest that Zaki pitched Hussein on investments in petrochemical manufacturing in Ain Sokhna as well as the rail equipment manufacturing in Port Said.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Edita Food Industries is <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/6\/Edita-Acquisition-Press-Release.pdf\">investing in (pdf)<\/a><\/strong> <strong>an EGP 135 mn production line<\/strong>, which is set to start production in February 2022 and increase the company\u2019s production capacity for baked goods by 20%. The statement says the new line will allow it to meet rising demand for its Molto range of products.<\/li>\n<li><strong>Amer Group<\/strong> and <strong>Orange Egypt<\/strong> <a href=\"https:\/\/bit.ly\/3xGxgki\">have<\/a><strong><a href=\"https:\/\/bit.ly\/3xGxgki\">extended<\/a><\/strong><strong> a partnership agreement <\/strong>struck a decade ago that will see the mobile network operator provide Amer\u2019s real estate projects with the latest technology and upgrade its digital infrastructure.<\/li>\n<li><strong>Telecom Egypt<\/strong> <a href=\"https:\/\/bit.ly\/3wOOc7Q\">discussed working more closely<\/a> with <strong>Libyan telecoms <\/strong><strong>players<\/strong> on digital transformation with a delegation of Libyan officials in Cairo yesterday.<\/li>\n<li>A <strong>female <\/strong><strong>TikTok<\/strong><strong> influencer <\/strong><strong><a href=\"https:\/\/www.reuters.com\/article\/idUSL5N2O346A\">will file an appeal<\/a><\/strong><strong> against a 10-year jail sentence<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3066298-e2e7-41d0-8881-6a6d505dfaf7\">she was handed<\/a> by the Cairo Criminal Court on Sunday for inciting debauchery and \u201chuman trafficking.\u201d<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/amer-group\/\">Amer Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-national-railways\/\">Egyptian National Railways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kamel-el-wazir\/\">Kamel El Wazir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/malaysia\/\">Malaysia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orange-egypt\/\">Orange Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yehia-zaki\/\">Yehia Zaki<\/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=\"563203\" 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=\"563203\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/china-escalates-crypto-crackdown\/\">\r\n                            China escalates crypto crackdown                        <\/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\/22\/china-escalates-crypto-crackdown\/\" 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\/22\/china-escalates-crypto-crackdown\/')\">\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\/22\/china-escalates-crypto-crackdown\/\">\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=China escalates crypto crackdown&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/china-escalates-crypto-crackdown\/\">\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\/22\/china-escalates-crypto-crackdown\/&title=China escalates crypto crackdown\">\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=China+escalates+crypto+crackdown+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Fchina-escalates-crypto-crackdown%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\/22\/china-escalates-crypto-crackdown\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563203\" class=\"content-area-description single-story post-563203 post type-post status-publish format-standard hentry category-planet-finance tag-alipay tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-pandemic tag-planet-finance tag-regulation tag-startups tag-technology tag-us-banking-system tag-zoomcar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>China is further escalating its clampdown on crypto<\/strong>, ordering all of the country\u2019s major financial bodies to cut off all transactions linked to BTC and other digital currencies, according to <a href=\"https:\/\/mp.weixin.qq.com\/s\/RYyyxezUMkhWGgZF72-5lQ\">a statement<\/a> by the People's Bank of China yesterday. The Agricultural Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Postal Savings Bank of China and Alibaba\u2019s online payment service Alipay are among the companies ordered to cut payment channels of clients involved in crypto trading, which China sees to have \u201cdisrupted the normal order of the economy and financial [system].\u201d<\/p><p><strong>The news sent Bitcoin prices sliding by 10% to as low as <\/strong><strong><a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\">USD 31.6k<\/a><\/strong> this morning, putting the currency on course for <a href=\"https:\/\/www.reuters.com\/article\/us-china-cryptocurrency-pboc\/chinas-central-bank-urges-financial-institutions-to-crack-down-on-cryptocurrencies-idUSKCN2DX0VE\">its biggest daily drop<\/a> since the crash last month. China has been ramping up its regulation of cryptocurrencies, <a href=\"https:\/\/www.cnbc.com\/2021\/05\/18\/china-bans-financial-payment-institutions-from-cryptocurrency-business.html\">recently banning<\/a> financial institutions and payment companies from the crypto business and shuttering bitcoin mines.<\/p><hr class=\"grey-line\"><p><strong>Big banks could soon be throwing money at shareholders: <\/strong>The results of an annual stress test conducted by the US Fed are due out on Thursday, and if all goes well, 23 large banks including JPMorgan, Morgan Stanley, and Goldman Sachs are expected to release a flood of liquidity into stock dividends and buybacks, reports <a href=\"https:\/\/www.ft.com\/content\/c4f446b1-a71d-4656-a81f-f2bcaf97c9ba\">the Financial Times<\/a>. The Comprehensive Capital Analysis and Review, which the Fed runs to keep the banking system safe from so-called \u201cdoomsday scenarios,\u201d will determine how much of a buffer banks need to hold above regulatory requirements.<\/p><p><strong>Why should you care? <\/strong>The Fed began at the start of the year easing restrictions imposed last year at the start of the pandemic that had capped shareholder payouts and banned buybacks, in measures that were mirrored among regulators around the world, <strong>including <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bc7fcdc-fd3b-4256-9cbb-8551958adfa0\">our very own Central Bank of Egypt<\/a><\/strong>.<\/p><hr class=\"grey-line\"><p><strong>GLOBAL IPO WATCH- India-based self-drive car rental company <\/strong><strong><a href=\"https:\/\/www.zoomcar.com\/\">Zoomcar<\/a><\/strong><strong> is<\/strong> <strong>considering a US listing sometime in the next 12 months, <\/strong>CEO and co-founder Greg Moran told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-21\/sequoia-backed-zoomcar-eyes-u-s-listing-as-travel-reawakens?sref=mmeFTDW1\">Bloomberg<\/a>. The company, which was backed by a number of early-stage investors including star VC fund Sequoia Capital after it was set up in 2013, is looking to expand to the Middle East this quarter and<strong> is eyeing Egypt and Saudi Arabia as potential markets due to their low levels of vehicle ownership<\/strong>, but large upwardly mobile populations.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,062<\/p>\n<\/td>\n<td>\n<p>+2.7% (YTD: -7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.61<\/p>\n<\/td>\n<td>\n<p>Sell 15.71<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.61<\/p>\n<\/td>\n<td>\n<p>Sell 15.71<\/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>10,859<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +25.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,615<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +31.1%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,847<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +14.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,224<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +12.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,062<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +9.3%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 74.89<\/p>\n<\/td>\n<td>\n<p>-%<\/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 3.20<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,784.10<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 31,383<\/p>\n<\/td>\n<td>\n<p>-11.2% (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 rose 2.7% at today\u2019s close<\/strong> on turnover of EGP 1.78 bn (29% above the 90-day average). Regional investors were net buyers. The index is down 7.2% YTD.<\/p><p><strong>In the green: <\/strong>Ezz Steel (+5.8%), ElSewedy Electric (+5.6%) and GB Auto (+4.6%).<\/p><p><strong>In the red: <\/strong>Orascom Investment Holding (-1.6%), Credit Agricole (-1.5%) and Export Development Bank Egypt (-1.3%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alipay\/\">Alipay<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/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\/regulation\/\">regulation<\/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\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-banking-system\/\">US banking system<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zoomcar\/\">Zoomcar<\/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=\"563204\" 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=\"563204\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/iran-president-elect-raisi-plays-hardball-ksa-has-an-ambassador-in-doha-new-israeli-fm-to-visit-uae-next-week\/\">\r\n                            Iran president-elect Raisi plays hardball; KSA has an ambassador in Doha; new Israeli FM to visit UAE next week.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/iran-president-elect-raisi-plays-hardball-ksa-has-an-ambassador-in-doha-new-israeli-fm-to-visit-uae-next-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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KSA has an ambassador in Doha; new Israeli FM to visit UAE next week.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Iran+president-elect+Raisi+plays+hardball%3B+KSA+has+an+ambassador+in+Doha%3B+new+Israeli+FM+to+visit+UAE+next+week.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F22%2Firan-president-elect-raisi-plays-hardball-ksa-has-an-ambassador-in-doha-new-israeli-fm-to-visit-uae-next-week%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/iran-president-elect-raisi-plays-hardball-ksa-has-an-ambassador-in-doha-new-israeli-fm-to-visit-uae-next-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563204\" class=\"content-area-description single-story post-563204 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-diplomacy tag-ebrahim-raisi tag-enterpriseam tag-iran tag-israel tag-japan tag-joe-biden tag-qatar tag-sports tag-uae tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Iran isn\u2019t cozying up to the US anytime soon: <\/strong>Confirming his title as a hardliner, newly elected Iranian President Ebrahim Raisi has said he would not be meeting with US President Joe Biden and called Tehran\u2019s ballistic missile program \u201cnon-negotiable,\u201d according to the <a href=\"https:\/\/apnews.com\/article\/iran--president-elect-ebrahim-raisi-biden-63db1fbbdb1ff9fe40aca40f3f8046a2\">Associated Press<\/a>. Raisi called on the US to remove all sanctions on Iran, but did not comment on the status of negotiations between the incumbent government and world powers over reviving the 2015 nuclear accord, which have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f3aabe7-28bb-482a-93b5-04b0de8b7356\">made progress<\/a> in recent days.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>Saudi Arabia's new ambassador to Qatar has <\/strong><strong><a href=\"https:\/\/www.mofa.gov.qa\/en\/all-mofa-news\/details\/1442\/11\/11\/deputy-prime-minister-and-minister-of-foreign-affairs-receives-copy-of-credentials-of-saudi-ambassador\">presented<\/a><\/strong><strong> his credentials <\/strong><strong>to the Qatari foreign minister<\/strong>, in <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/qatar-receives-new-saudi-ambassador-two-mend-ties-2021-06-21\/\">the first official rapprochement<\/a> between the two countries after the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/036bdfbe-0680-448e-a011-b607497ac279\">Al Ula accord this year<\/a> ended almost four years of diplomatic freeze between Qatar and its Gulf neighbors.<\/li>\n<li><strong>Israeli Foreign Minister<\/strong><strong> Yair Lapid will pay his first official visit to the UAE <\/strong><strong>on 29 June<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-foreign-minister-pay-first-visit-uae-next-week-statement-2021-06-21\/\">Reuters<\/a> reports, during which he will inaugurate Israel\u2019s Embassy in Abu Dhabi and consulate in Dubai.<\/li>\n<li><strong>Japan will allow locals into the Tokyo Olympics with a 50% capacity limit <\/strong><strong>per <\/strong><strong>venue<\/strong>, organizers said Monday, in a last ditch attempt to save some semblance of fanfare at the event, according to <a href=\"https:\/\/apnews.com\/article\/tokyo-2020-tokyo-olympics-olympic-games-health-coronavirus-pandemic-79196dd729929f217321900ad1a1931a\">the Associated Press<\/a>. Organizers may scrap the audience idea altogether if covid-19 cases increase on a national level in Japan, where the majority of people have not yet been vaccinated.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/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\/ebrahim-raisi\/\">Ebrahim Raisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"563205\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-are-alternative-construction-materials-being-used-in-egypt\/\">\r\n                            How are alternative construction materials being used in Egypt?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n       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<\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-are-alternative-construction-materials-being-used-in-egypt\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/283.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"563206\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/how-are-alternative-construction-materials-being-used-in-egypt\/283-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/283.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"283.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/283.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/283.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-563205\" class=\"content-area-description post-563205 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-enterprise-going-green tag-enterpriseam tag-flat6labs tag-hand-over tag-karim-kafrawi tag-karmbuild tag-mycelium tag-qubix tag-youssef-farag wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a><strong> How are alternative construction materials being used in Egypt? <\/strong>In this multi-part series, we\u2019ve looked at efforts being made by the construction industry to reduce pollution from materials. Some cement industry leaders have begun producing <a href=\"https:\/\/enterprise.press\/greeneconomys\/green-green-cement\/\">so-called \u2018green\u2019 cement<\/a>. <a href=\"https:\/\/enterprise.press\/greeneconomys\/beyond-green-cement-else-egypts-construction-companies-reduce-pollution\/\">Other companies<\/a> are seeking independent green building certification to track and reduce their environmental footprint, though with little real impact.<\/p>\n<p><strong>So is there a way to opt out of using heavily polluting construction materials altogether?<\/strong> In a nutshell, some highly innovative applications of alternative construction materials are available in Egypt. But despite rapid growth, their overall market share is still low.<\/p>\n<p><strong>What exactly do we mean by \u2018alternative\u2019 construction materials? <\/strong>Definitions vary, but generally refer to two groups of materials. <a href=\"https:\/\/www.futureofconstruction.org\/solution\/natural-building-materials\/\">Natural building materials<\/a>, like bamboo, rice straw, or mycelium (part of a fungus) are usually grown and harvested rather than mined and reformed. Industrially produced concrete-like materials or recycled plastic contain lower emissions than their benchmark competitors. For the purposes of this article, our focus is on natural building materials or unconventional uses of industrially produced ones.<\/p>\n<p><strong>Biotech <\/strong><strong><a href=\"https:\/\/en.mycellium.co\/\">startup Mycelium<\/a><\/strong><strong> uses fungi to convert rice or wheat straw into an alternative material used for insulation panels,<\/strong> <strong>reducing plastic use,<\/strong> CEO Mohamed Fawzy tells Enterprise. It\u2019s free of heavily polluting volatile organic compounds (VOCs), he adds. Using mycelium in construction has been <a href=\"https:\/\/www.architectureanddesign.com.au\/news\/mushrooms-emerging-in-construction-realm-as-insula#\">gaining traction globally<\/a> over the last decade. <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0264127519308354\">It\u2019s manufactured<\/a> using natural materials through a low-energy process, making it an environmentally-friendly alternative to plastic products like polystyrene, which is among the <a href=\"https:\/\/insights.globalspec.com\/article\/6606\/most-common-building-thermal-insulation-materials-on-the-market-today\">most commonly-used<\/a> materials for insulation panels.<\/p>\n<p><strong>While<\/strong> <strong>social enterprise <\/strong><strong><a href=\"https:\/\/www.theswitchers.eu\/en\/switchers\/this-entrepreneur-is-reinforcing-the-idea-of-sustainable-construction-across-egypt\/\">Hand Over<\/a><\/strong><strong> follows in the tradition of architect Hassan Fathy, using compressed earth for low-income residential buildings and private developers<\/strong>, representatives tell Enterprise. Its main raw materials are sand, mud and gravel, supplemented with locally sourced materials like natural stones, they add. Using compressed earth for residential construction is an ancient Nubian technique, which architect Hassan Fathy <a href=\"https:\/\/www.ft.com\/content\/70e0e0a4-61fe-11ea-abcc-910c5b38d9ed\">famously intended<\/a> to use at scale for low-income communities. In the 1940s, <a href=\"https:\/\/www.apollo-magazine.com\/earth-architecture-hassan-fathy\/\">he designed<\/a> New Gourna, a village near Luxor built entirely out of compressed earth.<\/p>\n<p><strong>KarmBuild makes use of discarded natural materials for construction:<\/strong> KarmSolar\u2019s <a href=\"https:\/\/www.karmsolar.com\/\">sister company KarmBuild<\/a> sources locally available natural materials in its projects as much as possible, Principal Architect Karim El Kafrawi tells Enterprise. Its projects in Bahariya used sandstone cleared from agricultural land, while Red Sea projects used limestone discarded by developers. Products are tested for compressive strength, and used to develop wall-bearing structures for buildings, says Kafrawi. KarmBuild is also trying to use compressed earth blocks to replace red bricks in some projects in Cairo, he adds.<\/p>\n<p><strong><a href=\"https:\/\/www.qubixstudios.com\/\">Qubix adopts<\/a><\/strong><strong> a different approach, with its innovative reuse of industrial steel: <\/strong>Qubix converts used shipping containers into structures that can be used as commercial or residential buildings, co-founder Youssef Farag tells Enterprise. Its construction process not only eliminates the need for conventional materials like brick and cement, but also means that steel containers whose \u2018seaworthy\u2019 lifespan has finished \u2014 each weighing 3-4 tons \u2014 aren\u2019t put through energy-intensive recycling or left in a landfill. Qubix uses standardized local materials in its construction, primarily steel and wood, says Farag.<\/p>\n<p><strong>These businesses are growing: <\/strong>Qubix has delivered over 200 residential and commercial projects since it was founded in 2016, says Farag. Mycelium sells its insulation panels to two companies, who sell them on for use in B2C projects. Founded in 2020, it currently has seven clients in Cairo and Alexandria, and has attracted interest from big corporations including Sodic, says Fawzy. Hand Over has implemented six projects since it was founded in 2016, its representatives say. KarmBuild has completed six buildings since its 2014 founding \u2014 two more are currently under construction \u2014 and provided design and consultancy services on a host of others, says Kafrawi.<\/p>\n<p><strong>And have already scored some major projects: <\/strong>KarmBuild\u2019s major projects include the <a href=\"https:\/\/inhabitat.com\/egypts-first-solar-powered-village-rises-from-the-desert-in-bahariya-oasis\/\">KarmSolar operations and maintenance center<\/a> in Bahariya, along with residential, agricultural and hospitality developments in rural areas around the country, says Kafrawi. It has recently launched a new series of developments closer to Cairo, in areas like Sheikh Zayed, he adds. Qubix completed <a href=\"https:\/\/flashproperty.com\/blog\/the-drive-by-the-waterway\/\">The Drive<\/a>, a large-scale drive-through unit housing restaurants and coffee shops, six months ago. It\u2019s currently building a private family compound in Sheikh Zayed with 12 small villas made out of containers, Farag says. Mycelium has secured over USD 65k in funding from Flat6Labs.<\/p>\n<p><strong>But market adoption is still relatively low:<\/strong> Startups like Qubix and Mycelium are highly innovative, but within the Egyptian market as a whole, they aren\u2019t widely used, says Khaled Tarabieh, associate chair of AUC\u2019s architecture department.<\/p>\n<p><strong>The sector\u2019s contribution is a drop in the ocean:<\/strong> Egypt\u2019s construction activity is dominated by large projects like Ora Developers\u2019 EGP 100 bn residential complex, a Fitch market report said last year.<sup><\/sup> Qubix has an estimated 75% share of the shipping container construction market, estimates Farag, but it\u2019s much harder to measure its overall construction market share. \u201cI really can\u2019t even put a number on it, because Egypt\u2019s construction market is one of the biggest in the world. Companies are building entire cities and a monorail. Compared to that, we could be a grain of sand in the desert.\u201d Mycelium will be competing to supply insulation panels with companies like <a href=\"http:\/\/insutech-eg.com\/about\/\">Insutech<\/a>, which has 100+ clients <a href=\"http:\/\/insutech-eg.com\/wp-content\/uploads\/2017\/03\/Insutech-ref-book.pdf\">in Egypt (pdf)<\/a>, or Egypt\u2019s <a href=\"https:\/\/www.beta-eg.com\/\">Beta Company<\/a> \u2014 whose 100+ clients include construction giants Orascom, Cemex, and Italcementi.<\/p>\n<p><strong>The question is, can this change? <\/strong>Comparing the growth of startups with established businesses is obviously challenging. But if we want to assess whether it\u2019s really possible to lessen pollution through alternatives to traditional heavy polluters, the issue of market penetration matters. So whether the innovative approaches of this handful of small businesses have the potential to be adopted at scale becomes the key question to answer.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>National rollout of <\/strong><strong>EV charging stations:<\/strong> The government\u2019s project to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">set up a nationwide network<\/a>for charging electric vehicles, which is being led by industry leader Infinity, is expected to cost some EGP 450 mn.<\/li>\n<li><strong>AfDB to help finance new round of electricity sector, energy efficiency reforms<\/strong>: The African Development Bank (AfDB) approved an<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/debd71b4-aeaa-4929-bab6-a964f4464783\">EUR 83 mn loan<\/a> to finance the second phase of the program, which is designed to promote green energy sources and energy efficiency.<\/li>\n<li><strong>US to boost funding to go solar...<\/strong> The US will step up its funding to Egypt to speed up our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d3d48c1-8e68-45d2-978f-76d25247b662\">shift<\/a> towards renewable energy.<\/li>\n<li><strong>\u2026and warns us against fossil fuel investments:<\/strong> US Special Climate envoy John Kerry tells Quartz that he warned Egypt against <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eadfc94-e830-42e9-b7b0-51d0a8f92dcd\">investing too heavily in oil and gas<\/a>.<\/li>\n<li><strong>One step closer to establishing a state waste management entity<\/strong>: The draft executive regulations of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df2dc7bd-b362-4353-a5a2-7f21cfee75dc\">Waste Management Act<\/a> have been passed to cabinet for review, with the new legislation to set up a new state agency responsible for waste management.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flat6labs\/\">Flat6Labs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hand-over\/\">Hand Over<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karim-kafrawi\/\">Karim Kafrawi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmbuild\/\">KarmBuild<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mycelium\/\">Mycelium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qubix\/\">Qubix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/youssef-farag\/\">Youssef Farag<\/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=\"563207\" 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\/22\/your-essential-business-calendar-on-22-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563207\" class=\"content-area-description single-story post-563207 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>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: The Cairo International Book Fair, Egypt International Exhibition Center.<\/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>1 July (Thursday): Deadline for 17 EGX-listed companies to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea07d9b0-6120-41be-9261-eecc78483f5a\">file their 1Q2021 earnings<\/a>.<\/p>\n<p>4 July (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday).<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>2-4 August (Monday-Wednesday): Egypt is hosting the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":563187,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-563186","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"98e25908-e257-47cb-84ef-81fbd1e0d55e","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/276.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>Tawasol, LimeVest make their move for Alex Medical - 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\/tawasol-limevest-make-their-move-for-alex-medical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tawasol, LimeVest make their move for Alex Medical\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/tawasol-limevest-make-their-move-for-alex-medical\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:00:30+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\/276.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\/tawasol-limevest-make-their-move-for-alex-medical\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/tawasol-limevest-make-their-move-for-alex-medical\/\",\"name\":\"Tawasol, LimeVest make their move for Alex Medical - 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