{"id":563365,"date":"2021-06-29T04:00:13","date_gmt":"2021-06-29T04:00:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=563365"},"modified":"2025-12-16T04:05:00","modified_gmt":"2025-12-16T04:05:00","slug":"a-private-sector-minimum-wage-is-smart-policy-mandatory-bonuses-not-so-much","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/a-private-sector-minimum-wage-is-smart-policy-mandatory-bonuses-not-so-much\/","title":{"rendered":"A private sector minimum wage is smart policy. Mandatory bonuses? Not so much."},"content":{"rendered":"<section id=\"563367\" 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=\"563367\">\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\/29\/this-morning-tenth-of-ramadan-dry-port-tender-launches-today-facebook-defeats-antitrust-lawsuits-ethiopia-announces-tigray-ceasefire\/\">\r\n                            THIS MORNING: Tenth of Ramadan dry port tender launches today; Facebook defeats antitrust lawsuits; Ethiopia announces Tigray ceasefire.                        <\/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\/29\/this-morning-tenth-of-ramadan-dry-port-tender-launches-today-facebook-defeats-antitrust-lawsuits-ethiopia-announces-tigray-ceasefire\/\" 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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Ethiopia announces Tigray ceasefire.&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/this-morning-tenth-of-ramadan-dry-port-tender-launches-today-facebook-defeats-antitrust-lawsuits-ethiopia-announces-tigray-ceasefire\/\">\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\/29\/this-morning-tenth-of-ramadan-dry-port-tender-launches-today-facebook-defeats-antitrust-lawsuits-ethiopia-announces-tigray-ceasefire\/&title=THIS MORNING: Tenth of Ramadan dry port tender launches today; Facebook defeats antitrust lawsuits; Ethiopia announces Tigray ceasefire.\">\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+Tenth+of+Ramadan+dry+port+tender+launches+today%3B+Facebook+defeats+antitrust+lawsuits%3B+Ethiopia+announces+Tigray+ceasefire.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fthis-morning-tenth-of-ramadan-dry-port-tender-launches-today-facebook-defeats-antitrust-lawsuits-ethiopia-announces-tigray-ceasefire%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\/29\/this-morning-tenth-of-ramadan-dry-port-tender-launches-today-facebook-defeats-antitrust-lawsuits-ethiopia-announces-tigray-ceasefire\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563367\" class=\"content-area-description single-story post-563367 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-antitrust tag-enterpriseam tag-ethiopia tag-facebook tag-infrastructure tag-logistics tag-politics tag-public-private-partnership tag-social-media tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends, and welcome to the next-to-last workday of the week. <\/strong>We hope you\u2019re looking forward to the long weekend as much as we are.<\/p><p><strong>We\u2019re not typically fans of things that increase costs for businesses. <\/strong>Just about the only thing we dislike more is needless regulatory complexity.<\/p><p><strong>And yet we\u2019re cheering the Madbouly government\u2019s imposition yesterday of a <\/strong><strong>private-sector <\/strong><strong>minimum wage. <\/strong>We\u2019ve long maintained that businesses need to pay a liveable minimum wage, and EGP 2,400 is a step in the right direction. <strong>Planning Minister Hala El Said deserves a tip of the hat from all of us this morning<\/strong> for having kept the idea on the agenda and seen it through.<\/p><p><strong>Forget about economic arguments in favour of the minimum wage <\/strong>\u2014 a business that cannot pay an adult a wage sufficient to ensure they can eat, find a place to live and clothe themselves is not a business that deserves to be. (With apologies to Norm Ornstein. Elements of his <a href=\"https:\/\/www.theatlantic.com\/politics\/archive\/2013\/12\/the-moral-and-economic-imperative-to-raise-the-minimum-wage\/282064\/\">2013 argument in the Atlantic<\/a> really stand out in our mind this morning.)<\/p><p><strong>The NCW is allowing businesses to file for exemptions. It should grant them very, very <\/strong><strong>sparingly.<\/strong> Small businesses that have gone legit (who are filing taxes, paying social insurance and wage taxes for their employees, etc) deserve more flexibility than medium and large enterprises, regardless of industry. And any exemptions granted should have a sunset clause beyond which it should be very onerous indeed for a business to ask for an extension \u2014 particularly for businesses with larger labor forces.<\/p><p><strong>But please don\u2019t get us started on this \u201cmandatory bonus\u201d thing. <\/strong>Bonuses should be earned for outstanding performance \u2014 full stop \u2014 not because you have a pulse and happen to be sitting in a seat on a specific calendar date. Using them as a back door to force the private sector to pay more to workers outside the minimum wage (or to substitute for benefits the state is unable or unwilling to provide) is simply a perversion of why bonuses exist. <strong>They are by definition a form of variable compensation that reward outstanding performance<\/strong>, not entitlements that should be booked as fixed costs.<\/p><p><strong>We have a rundown in this morning\u2019s Speed Round on how the minimum wage will work <\/strong>and expect to have more news and analysis in the days to come.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>A tender will be launched today for the establishment of the Tenth of Ramadan <\/strong><strong>City dry port and logistics hub <\/strong>under a public-private partnership model, the Finance Ministry said in a <a href=\"https:\/\/bit.ly\/3x7jnLW\">statement<\/a>. Cabinet had given <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65e8b72c-aa5c-4929-89aa-baa9e4a8319f\">preliminary approval<\/a> to the 250-feddan dry dock and logistics hub in early June, shortly before greenlighting to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5fb23aa-0496-4f4b-a296-41de09a6a0ca\">move forward with a tender<\/a> to establish the project. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a0b7073-b559-415e-9174-cc4a583db2ab\">Five consortia<\/a> are reportedly interested in the tender, including one led by Elsewedy Electric and DB Schenker, one led by Dubai\u2019s DP World, and another by China International Marine Containers Group.<\/p><p><strong>It\u2019s the final day of the<\/strong><strong><a href=\"https:\/\/www.thebig5constructegypt.com\/\"><\/a><\/strong><strong><a href=\"https:\/\/www.thebig5constructegypt.com\/\">Big 5 Construct Egypt<\/a><\/strong> at the Cairo International Convention Center.<\/p><p><strong>THE BIG STORY IN THE REGION- The Ethiopian government has announced an <\/strong><strong>immediate, <\/strong><strong>unilateral ceasefire in the conflict in the restive Tigray region<\/strong>, which almost eight months ago saw conflict erupt between the government and separatist forces. Government troops have left the regional capital after Tigrayan rebels reportedly ejected the interim administration. The story is front news everywhere from <a href=\"https:\/\/www.reuters.com\/world\/africa\/mekelle-under-our-control-spokesperson-tigrays-former-rulers-says-2021-06-28\/\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/ethiopia-tigray-cease-fire-2745f0941cafcfa8fbe4c9f945f0925d\">the AP<\/a> to <a href=\"https:\/\/www.bbc.com\/news\/world-africa-57645282\">the BBC<\/a> and <a href=\"https:\/\/www.ft.com\/content\/b1eac4d5-945f-4220-9dfe-de871030d520\">the FT<\/a>.<\/p><p><strong>THE BIG STORY INTERNATIONALLY- Facebook 1. Antitrust 0.<\/strong> Efforts to curb the market power of US tech giants suffered a blow yesterday after a federal judge tossed out two antitrust lawsuits seeking to break up Facebook. The Federal Trade Commission and a coalition of 46 states filed the cases claiming that the social media giant was using its market power to \u201csystematically\u201d eliminate its competitors and were seeking the forced divestiture of Instagram and WhatsApp. However, the judge ruled that the lawsuits were \u201clegally insufficient\u201d and were not able to prove that Facebook wields monopoly power. The FTC is able to appeal and refile its case in the next 30 days.<\/p><p><strong>Facebook\u2019s shares surged 4.2% on the news<\/strong>, pushing its market cap above USD 1 tn for the first time.<\/p><p> <strong>The news is everywhere in the global business press:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-28\/facebook-rises-after-lawsuit-dismissal-hits-1-trillion-value?srnd=premium\">Bloomberg<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/bedb65dd-53c9-4e31-b3d7-c85a40fdb104\">FT<\/a>, <a href=\"https:\/\/www.nytimes.com\/2021\/06\/28\/technology\/facebook-ftc-lawsuit.html\">NYT<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/facebook-rulings-leave-big-tech-in-crosshairs-11624925607\">WSJ<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>The Supreme Constitutional Court (SCC) now has the power to block local implementation <\/strong>of international arbitration rulings after its authority was augmented in legislation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/313e24e6-8f1d-4488-a186-a289b2b09c62\">passed by the House<\/a>.<\/li>\n<li><strong>The long-awaited Sovereign Sukuk Act <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/313e24e6-8f1d-4488-a186-a289b2b09c62\">was greenlit by MPs yesterday<\/a><\/strong>, paving the way for the government\u2019s inaugural sukuk sale.<\/li>\n<li><strong>Ukraine\u2019s Vazhmash is serious about saving Egyptian Iron and Steel <\/strong>and has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5be47e70-3b6f-4ea0-af65-3c9fc23deb9b\">fielded an offer<\/a> to get the defunct state-owned company back up and running.<\/li>\n<\/ul><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Cairo International Book Fair will open its doors<\/strong> at the Egypt International Exhibition Center tomorrow. The two-week event will run through to 15 July.<\/p><p><strong>The British Egyptian Business Association (BEBA) is organizing a virtual education week <\/strong><strong>from 5-6 July<\/strong> with three seminars planned. The first, taking place at 10am on 5 July, will discuss <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_6h0ENWL5Rg61kAViRsbi7Q\">skills-based learning<\/a> while the <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_JL59Z3vIQ8Se-s8THnt3IQ\">future of investment in education<\/a> will be the topic on the table at 12:30pm the same day. On 6 July, a talk on the <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_EOlyoDeQQryADcYSJ3-_5Q\">digitalization of education in Egypt<\/a> will be held at 12pm.<\/p><p><strong>The Clean Energy Business Council (CEBC) MENA is holding a webinar<\/strong> titled <a href=\"https:\/\/register.gotowebinar.com\/register\/6716521125423287567\">Energy<\/a><a href=\"https:\/\/register.gotowebinar.com\/register\/6716521125423287567\">Efficiency in the MENA region: Status and Outlook<\/a> on 6 July at 3:30pm.<\/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>Will Egypt\u2019s new Waste Management Act transform an industry that\u2019s long been plagued by decentralization and declining profits? The act\u2019s executive regulations are currently being reviewed by cabinet, and expected to be approved within the coming 6-8 weeks. Today, we break down how the act is setting up a national structure to manage waste collection and disposal, setting stricter licensing requirements and non-compliance penalties, and leveraging financing to address profitability challenges. But some say more clarification is needed, particularly when it comes to the act\u2019s enforceability and the role of the informal economy.<\/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\/antitrust\/\">antitrust<\/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\/facebook\/\">Facebook<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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=\"563368\" 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=\"563368\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/563368\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563368\" class=\"content-area-description single-story post-563368 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/SOMA-ENTERPRISE-EQF-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\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=\"563369\" 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=\"563369\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/we-finally-have-a-private-sector-minimum-wage\/\">\r\n                            We finally have a private-sector minimum wage                        <\/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\/29\/we-finally-have-a-private-sector-minimum-wage\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/we-finally-have-a-private-sector-minimum-wage\/360-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/360.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"360.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/360.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/360.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563369\" class=\"content-area-description single-story post-563369 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-economy tag-enterpriseam tag-labor tag-minimum-wage tag-policy tag-social-welfare 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> Private-sector workers are getting a minimum wage:<\/strong> Employees of private-sector companies will for the first time receive a minimum wage starting from the beginning of next year, the Planning Ministry <a href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/4852807078069400\">announced<\/a> yesterday. From 1 January 2022, companies will need to pay workers at least EGP 2.4k per month<sup><\/sup><sup><\/sup>, according to a decision by the National Council for Wages (NCW) that could impact some 12.6 mn workers.<\/p>\n<p><strong>This is in line with public sector wage hikes:<\/strong> The minimum wage for public sector employees will rise <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e7f82a2-3966-456d-964e-aa822efc3046\">to EGP 2.4k from EGP 2k<\/a> from the beginning of FY2021-2022 next month.<\/p>\n<p><strong>The private sector is also getting new bonuses:<\/strong> The council, headed by Planning Minister Hala El Said, also decided to put in place minimum bonuses for private sector employees equal to 7% of the basic salary<sup><\/sup><sup><\/sup><sup><\/sup>. These bonuses will be paid out bi-annually, with the government requiring companies to pay 3% on 1 July and the remaining 4% in January, Manpower Minister Mohamed Saafan said in a phone-in to Kelma Akhira last night (<a href=\"https:\/\/www.youtube.com\/watch?v=Za7lT_6S8hQ\">watch, runtime: 8:35<\/a>).<\/p>\n<p><strong>The minimum wage doesn\u2019t go into effect until next year, but the bonus system is a \u201cnow\u201d thing, it seems: <\/strong>Companies must start to pay out the new bonuses as of the start of FY2021-2022, not the start of 2022, Saafan said, adding that this means that companies that have already agreed to pay out bonuses this year will not have to comply with the new rules until next year.<\/p>\n<p><strong>The caveat: Not all businesses will have to comply with the decision.<\/strong> Employers can request an exemption from paying the minimum wage if they can prove that they can\u2019t afford the added cost. They have until October to submit a complaint to the council\u2019s complaints committee.<\/p>\n<p><strong>The decision will be legally enforceable<\/strong>, Khaled El Fiky, a NCW board member and head of the engineering syndicate, told us. The council usually issues guidelines that aren\u2019t legally binding, but this decision will be backed by an enforceable ministerial decree that will make the minimum wage binding for non-exempt employers, he said.<\/p>\n<p><strong>We\u2019re not sure how businesses will be penalized for failing to comply: <\/strong>Nour Shams El Din, head of litigation at Dreny & Partners Law Firm, told us that a subsequent decision by El Said will hold employers accountable for failing to pay the minimum wage.<\/p>\n<p><strong>A long time coming:<\/strong> Though the proposals were drafted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/817fe8bb-2c0d-40ab-b840-e55ea157c750\">last month<\/a>, the move has been several years in the making. The NCW had met back in 2019 to discuss implementing a private sector minimum wage, with an eye to set a minimum salary of EGP 2k at the time. The proposal to impose a binding minimum wage was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64721743-7051-4f8a-b7b6-2d7331d1019c\">put on the back burner<\/a> with the onset of the pandemic.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"563371\" 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=\"563371\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/egypt-wont-need-to-tap-lenders-for-the-time-being-says-imf\/\">\r\n                            Egypt won\u2019t need to tap lenders for the time being, says IMF                        <\/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\/29\/egypt-wont-need-to-tap-lenders-for-the-time-being-says-imf\/\" 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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Egypt, which completed a three-year, USD 12 bn IMF program in 2019, again tapped the Fund last year as covid-19 hit. The government borrowed another USD 8 bn from the lender to shore up its finances and protect its economy from the economic shock caused by the pandemic. The sum included a USD 5.2 bn standby facility and a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11bab53b-215b-4264-9f9f-0134b47a0e99\">USD 2.8 bn \u201crapid financing instrument\u201d<\/a> to total USD 8 bn.<\/p>\n<p><strong>The USD 5.2 bn standby loan program is now over:<\/strong> The presser was held to answer questions on the disbursal of the USD 1.6 bn third and final tranche of the one-year package, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d21662d-0829-49ce-bfe2-4e3cc3e78f80\">was approved by the IMF\u2019s executive board<\/a> last week. Approved in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">June 2020<\/a>, the standby loan program has supported Egypt\u2019s balance of payments through the worst of the pandemic and paid for vital health and social programs.<\/p>\n<p><strong>An exact date for disbursal remains unclear<\/strong>, but Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d21662d-0829-49ce-bfe2-4e3cc3e78f80\">said on Wednesday<\/a> that Egypt would not wait longer than a week to receive it.<\/p>\n<p><strong>The main challenges going forward:<\/strong> Egypt\u2019s slow vaccine rollout and its potential impact on the recovery of the tourism sector, and the country\u2019s high levels of public debt will present the biggest challenges to the government going forward, Allard <a href=\"https:\/\/bit.ly\/3gY95rU\">said<\/a>. Almost six months into the vaccination campaign, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5b6b112-2359-4d77-8e56-ef78298a3eba\">only 7% of eligible people<\/a> have received one shot of a covid jab, something that will likely hold the tourism sector back from mounting a full recovery.<\/p>\n<p><strong>Egypt doesn\u2019t think the tourism recovery is in jeopardy:<\/strong> Tourism revenues are now expected to come in somewhere <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3ac0c7c-9258-4a62-b6e9-893075c674c5\">between USD 6 bn and USD 9 bn in 2021<\/a>, thanks to rising bookings from Eastern Europe and the Gulf, Tourism Minister Khaled El Anany said earlier this month. The announcement was an upwards revision of Egypt\u2019s tourism revenue targets for 2021, which El Enany had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6405eda-1bf2-43d9-8236-f947f937034b\">last month put at USD 8 bn<\/a>. Recovering arrivals are setting us on track to welcome a little over 6 mn visitors by the end of the year.<\/p>\n<p><strong>Next on the reform agenda?<\/strong> Allard said that the government now has to focus on further structural reforms to increase the role of the private sector in the economy \u2014 and work on reducing trade barriers to better integrate Egyptian companies into global markets. The government in April announced it would undertake <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/880fe75b-3a07-477a-93c3-c87eaad7936f\">a new round of structural reforms<\/a>, one that it says will liberalize trade policy, upgrade infrastructure and improve market competition to raise exports and boost the private sector.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563373\" 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=\"563373\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/\">\r\n                            House gives early approval to bill permitting automatic dismissal of civil servants linked to Ikhwan                        <\/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\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/\" 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\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/')\">\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\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=House gives early approval to bill permitting automatic dismissal of civil servants linked to Ikhwan&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/\">\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\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/&title=House gives early approval to bill permitting automatic dismissal of civil servants linked to Ikhwan\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=House+gives+early+approval+to+bill+permitting+automatic+dismissal+of+civil+servants+linked+to+Ikhwan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fhouse-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan%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\/29\/house-gives-early-approval-to-bill-permitting-automatic-dismissal-of-civil-servants-linked-to-ikhwan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563373\" class=\"content-area-description single-story post-563373 post type-post status-publish format-standard hentry category-legislation-watch tag-civil-service-act tag-enterpriseam tag-house-of-representatives tag-kamel-el-wazir tag-legislation-watch tag-muslim-brotherhood tag-terrorism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>A draft bill to permit the automatic dismissal of civil servants with proven ties to <\/strong><strong>the Ikhwan won initial approval from the<\/strong> <strong>House of Representatives <\/strong>yesterday, <a href=\"https:\/\/bit.ly\/3hc5plm\">Masrawy<\/a> reports. The amendments have been sent to the State Council ahead of a final general assembly vote in an upcoming plenary session.<\/p>\n<p><strong>About the bill:<\/strong> The amendments to the Civil Service Act would allow those with suspected links with any terrorist organization to be temporarily suspended from their positions for up to six months and have half of their pay docked while an investigation is conducted. They could also be permanently dismissed if these links are proven. The amendments were introduced on the heels of several rail incidents, which Transport Minister <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5cda618-0192-47fe-8fdf-c7f1f7afc072\">Kamel El Wazir claimed<\/a> were due to \u201cextremist elements\u201d in the Railways Authority.<\/p>\n<p><strong>IN OTHER LEGISLATION NEWS- Hold up, are our trademark laws getting a revamp? <\/strong>We may see new amendments to current trademark legislation, as a bill has reportedly been submitted to the House of Representatives for their review, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=28062021&id=25ad9009-f085-4f1d-91f6-4bac1f129137\">Al Shorouk<\/a>. Amendments to the law, <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/09\/egypt-working-on-amendments-to-trademark-law-to-protect-investors-consumers\/\">proposed back in 2018<\/a> by the government, are now being put forward by the House. <strong>It\u2019s not yet clear what changes could be in store.<\/strong><\/p>\n<p><strong>The government could move to install GPS tracking devices on fishing boats<\/strong><strong> under a proposed bill<\/strong> approved by the House Agriculture and Irrigation Committee during a meeting yesterday, <a href=\"https:\/\/bit.ly\/3A9Xb5B\">the local press<\/a> reports. The law, designed to promote sustainable seafood production, will soon be shipped to the House of Representatives for discussion.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/civil-service-act\/\">Civil Service Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kamel-el-wazir\/\">Kamel El Wazir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/muslim-brotherhood\/\">Muslim Brotherhood<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/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=\"563374\" 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=\"563374\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/el-sisi-holds-first-call-with-israels-new-pm\/\">\r\n                            El Sisi holds first call with Israel\u2019s new PM                        <\/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\/29\/el-sisi-holds-first-call-with-israels-new-pm\/\" 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\/29\/el-sisi-holds-first-call-with-israels-new-pm\/')\">\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\/29\/el-sisi-holds-first-call-with-israels-new-pm\/\">\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=El Sisi holds first call with Israel\u2019s new PM&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/el-sisi-holds-first-call-with-israels-new-pm\/\">\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\/29\/el-sisi-holds-first-call-with-israels-new-pm\/&title=El Sisi holds first call with Israel\u2019s new PM\">\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=El+Sisi+holds+first+call+with+Israel%E2%80%99s+new+PM+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fel-sisi-holds-first-call-with-israels-new-pm%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\/29\/el-sisi-holds-first-call-with-israels-new-pm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563374\" class=\"content-area-description single-story post-563374 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-israel tag-sameh-shoukry tag-sisi 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>President Abdel Fattah El Sisi held his first phone call with new Israeli PM Naftali <\/strong><strong>Bennett yesterday<\/strong>, emphasizing the importance of preserving the recent ceasefire between Hamas and Israel, according to statements released by both leaders\u2019 offices (<a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/344723320349736\">here<\/a> and <a href=\"https:\/\/mfa.gov.il\/MFA\/PressRoom\/2021\/Pages\/PM-Bennett-speaks-with-Egyptian-President-Abdel-Fattah-El-Sisi-28-June-2021.aspx\">here<\/a>). Egypt, which played a key role in ending last month\u2019s conflict, supports the resumption of peace talks between Israel and the Palestinians, El Sisi told Bennett, who became Israel\u2019s prime minister earlier this month. Egypt had earlier pledged <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/039377ac-4798-45c2-8c72-33391611063c\">USD 500 mn<\/a> for the reconstruction of properties and infrastructure in Gaza, and has been seeking to turn the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8a32c2f-201f-44ba-a719-8ee9b42efd75\">Israel-Hamas ceasefire<\/a> it brokered in late May into a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8da42f7-6ea4-480c-8574-06daf1f4271d\">longer-term agreement<\/a>.<\/p>\n<p><strong>The two leaders agreed to arrange a bilateral meeting soon<\/strong>, Bennett\u2019s office said.<\/p>\n<p><strong>The story got a digital ink in the foreign press<\/strong>, from <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypts-sisi-israels-bennett-hold-first-call-presidency-statement-2021-06-28\/\">Reuters<\/a> and <a href=\"https:\/\/www.haaretz.com\/israel-news\/.premium-bennett-sissi-discuss-regional-diplomacy-returning-israeli-captives-in-first-call-1.9948248\">Haaretz<\/a> to <a href=\"http:\/\/www.xinhuanet.com\/english\/2021-06\/28\/c_1310032432.htm\">Xinhua<\/a> and the <a href=\"https:\/\/www.jpost.com\/breaking-news\/egyptian-president-a-fair-solution-between-israel-and-palestine-is-needed-672246\">Jerusalem Post<\/a>.<\/p>\n<p><strong>IN OTHER DIPLO NEWS- GERD was one of the main topics of conversation for <\/strong><strong>Foreign Sameh Shoukry yesterday. <\/strong>The minister <a href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1409439520567738368\">was in Rome to attend a meeting<\/a> of the global anti-Daesh coalition and discuss efforts to combat the terrorist organization. The foreign minister discussed developments in the dispute with Ethiopia with his <a href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1409520093025931267?s=20&fbclid=IwAR1Hj65qqmZY99rMa1CHalDDVa0yVVQETVCLCo9KUQdot_Sn1Ch4spgv-9Q\">US<\/a>, <a href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1409473301739708417?s=20&fbclid=IwAR3FP_dONilFDDrdf8m4gtLT_wALeLIzQoo6gsV9zTAMKA6g_g7qB1bH0H0\">British<\/a>, <a href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1409508522178527240?s=20&fbclid=IwAR1iQt7DmhitbJgBQ_6FkP8c2PzGNyifwa4nekUS1sUa7Qa77gjEpQ1Mes0\">French<\/a>, <a href=\"https:\/\/twitter.com\/mfaegypt\/status\/1409501655272411137?s=21&fbclid=IwAR0L_wiBN-jY7B4n1kNDT8ASD6H-NrHYo33UP2z5lGbg3jJFOzZmfLOB1dA\">Congolese<\/a>, and <a href=\"https:\/\/twitter.com\/mfaegypt\/status\/1409484163921682434?s=21&fbclid=IwAR1wbhKQLnpgG8kyMmoaxxGUSGRPaPXbbXmN-CxD3FV28Ee4V3kqvy7SMe8\">Kenyan<\/a> counterparts.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sisi\/\">Sisi<\/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=\"563375\" 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=\"563375\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/\">\r\n                            Edunation targets Egypt after landing USD 3 mn investment                        <\/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\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/\" 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\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/')\">\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\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/\">\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=Edunation targets Egypt after landing USD 3 mn investment&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/\">\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\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/&title=Edunation targets Egypt after landing USD 3 mn investment\">\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=Edunation+targets+Egypt+after+landing+USD+3+mn+investment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fedunation-targets-egypt-after-landing-usd-3-mn-investment%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\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/363.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563376\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/edunation-targets-egypt-after-landing-usd-3-mn-investment\/363-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/363.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"363.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/363.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/363.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563375\" class=\"content-area-description single-story post-563375 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-education tag-enterpriseam tag-startup-watch tag-startups tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Jordanian startup <\/strong><strong><a href=\"https:\/\/www.edu-nation.net\/\">Edunation<\/a><\/strong><strong> is looking to expand into Egypt after raising USD 3 mn in a funding round led by <\/strong><strong>US-based VC investor Rubix<\/strong>, the company said in <a href=\"https:\/\/ent.news\/2021\/6\/Edunation-Investment-Announcement_En.docx.pdf\">a press release (pdf)<\/a>. The startup will also use the money to expand into Oman and Bahrain and bolster its presence in Jordan, Palestine, Qatar, Kuwait, Saudi Arabia and the UAE, the statement said. Edunation also eyes upgrading its online learning management platform and aims to grow its data-science division.<\/p>\n<p><strong>About Edunation: <\/strong>Established in 2013, Edunation is a provider of online and distance learning solutions for pre-school through higher education. It has seen its users surge 1200% since last year amid covid lockdown measures. The company has already raised capital through two early-stage rounds, securing pre-seed and seed funding in 2014 and 2019 from angel investor Abdul Malek Al Jaber.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563377\" 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=\"563377\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/\">\r\n                            Bank ABC gets acting CEO and MD, Endeavor Egypt appoints new MD                        <\/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\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/\" 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\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/')\">\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\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/\">\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=Bank ABC gets acting CEO and MD, Endeavor Egypt appoints new MD&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/\">\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\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/&title=Bank ABC gets acting CEO and MD, Endeavor Egypt appoints new MD\">\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=Bank+ABC+gets+acting+CEO+and+MD%2C+Endeavor+Egypt+appoints+new+MD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fbank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md%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\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/365.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563378\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/bank-abc-gets-acting-ceo-and-md-endeavor-egypt-appoints-new-md\/365-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/365.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"365.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/365.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/365.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563377\" class=\"content-area-description single-story post-563377 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-bank-abc tag-banking tag-endeavor-egypt tag-enterpriseam tag-moves tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mohamed Taha<\/strong> has been appointed <strong>acting CEO<\/strong> and <strong>managing director<\/strong> of Bank ABC Egypt, according to the bank\u2019s <a href=\"https:\/\/www.bank-abc.com\/world\/Egypt\/En\/AboutABC\/Management\/Pages\/Management.aspx\">new management structure<\/a>. Prior to this position, Taha was the executive vice president of ABC Bank. Taha succeeds Akram Tinawi (<a href=\"https:\/\/www.amcham.org.eg\/membership\/members-database\/4278\/arab-banking-corporation-egypt-bank-abc\">bio<\/a>) who stepped down from his position on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/374dc4e0-f7f1-4017-a661-31c196d09e37\">3 June<\/a>.<\/p>\n<p><strong>Endeavor Egypt<\/strong> has appointed <strong>Heba Ali<\/strong> (<a href=\"https:\/\/eg.linkedin.com\/in\/aliheba\">LinkedIn<\/a>) as its new <strong>managing director<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/6\/Endeavor-Egypt-Appoints-Heba-Ali-as-its-New-Managing-Director-1.pdf\">a statement (pdf)<\/a><sup><\/sup>. Ali \u2014 who was previously Endeavour\u2019s entrepreneur selection and growth manager \u2014 returns to the organization after serving as founding managing director of <a href=\"https:\/\/egyptventures.com\/\">Egypt Ventures<\/a> and vice-chair of <a href=\"https:\/\/falakstartups.com\/\">Falak Startups<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/endeavor-egypt\/\">Endeavor Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"563379\" 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=\"563379\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/563379\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563379\" class=\"content-area-description single-story post-563379 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/Sodic-The-Estate3-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563380\" 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=\"563380\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/\">\r\n                            On the airwaves last night: New private sector minimum wage + has Ethiopia begun filling the GERD?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=On the airwaves last night: New private sector minimum wage + has Ethiopia begun filling the GERD?&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/&title=On the airwaves last night: New private sector minimum wage + has Ethiopia begun filling the GERD?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=On+the+airwaves+last+night%3A+New+private+sector+minimum+wage+%2B+has+Ethiopia+begun+filling+the+GERD%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fon-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/on-the-airwaves-last-night-new-private-sector-minimum-wage-has-ethiopia-begun-filling-the-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563380\" class=\"content-area-description single-story post-563380 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-diplomacy tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-minimum-wage tag-national-wages-council tag-politics 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>Most of the nation\u2019s talking heads had something to say about the new <\/strong><strong>minimum wage for private-sector workers<\/strong>, announced by the Planning Ministry yesterday, and due to be introduced at the start of 2022. Among those who took note of the news: Kelma Akhira (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=wDeHuVGvxdU\">6:42<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=S0bPvr5RY4M\">3:30<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=TmHlv-jrWgg\">2:40<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=d_RA0F1zm2g\">watch, runtime: 5:22<\/a>). We have the full story in this morning\u2019s news well, above.<\/p>\n<p><strong>The rainy season in Ethiopia has begun<\/strong><sup><\/sup><sup><\/sup><strong>: <\/strong>Ethiopia resumed filling the Grand Ethiopian Renaissance Dam and is storing about 100 mn cubic meters of water each day after the rainy season began a few days ago, Abbas Sharaky, professor of water resources at Cairo University, claimed on El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=w3stkYt5NCY\">watch, runtime: 5:00<\/a>). The reservoir should store water as soon as the rains begin as the spillways are now open in both directions, Sharaky said, noting that the filling process should take two to three weeks. Al Hayah Al Youm had coverage of Foreign Minister Sameh Shoukry\u2019s visit to Rome yesterday to join global talks focused on defeating Daesh (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=0_VZGRFtczc\">6:58<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=8Z8ShukPxIE\">1:31<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-wages-council\/\">National Wages Council<\/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=\"563381\" 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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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-9xyegdw\" data-v=\"4\" data-block-id=\"9xyegdw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9xyegdw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9xyegdw-inner-blocks\">\r\n            <div 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class=\"stk-block-content stk-inner-blocks stk-f46wizg-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-25kfyr4\" data-v=\"4\" data-block-id=\"25kfyr4\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-25kfyr4-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-25kfyr4-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 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NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/another-slow-day-in-the-foreign-press-on-29-june-2021\/\">\r\n                            Another slow day in the foreign press on 29 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\/29\/another-slow-day-in-the-foreign-press-on-29-june-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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format-standard hentry category-egypt-in-the-news tag-agriculture tag-diplomacy tag-enterpriseam tag-housing tag-human-rights tag-iraq tag-jordan tag-politics tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s another day of miscellany in the international press this morning:<\/strong><\/p>\n<ul>\n<li><strong>The collapse of a condo in Florida last week is being compared to the similar<\/strong> <strong>incident in Alexandria on Friday<\/strong>, when an illegally-constructed building collapsed, killing give. (<a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/06\/28\/building-collapse-brazil-india-egypt\/\">Washington Post<\/a>)<\/li>\n<li><strong>Mending fences:<\/strong> President El Sisi\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2416ca1-5607-4ab6-a4be-259d78d29927\">trilateral summit<\/a> with Iraq and Jordan in Baghdad on Sunday could be a boon for Egypt-Iraq ties after years of tensions. (<a href=\"https:\/\/www.jpost.com\/middle-east\/egypt-iraq-jordan-summit-could-be-good-news-for-mideast-672265\">Jerusalem Post<\/a>)<\/li>\n<li><strong>Human Rights Watch is calling on Egypt to overturn <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eadfc94-e830-42e9-b7b0-51d0a8f92dcd\">death sentences<\/a><\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eadfc94-e830-42e9-b7b0-51d0a8f92dcd\">recently<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eadfc94-e830-42e9-b7b0-51d0a8f92dcd\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eadfc94-e830-42e9-b7b0-51d0a8f92dcd\">handed out<\/a> to 12 members of the Ikhwan involved in the 2013 Rabaa sit-in. (<a href=\"https:\/\/www.hrw.org\/news\/2021\/06\/28\/egypts-execution-frenzy-has-stop\">HRW<\/a>)<\/li>\n<li><strong>Egypt\u2019s agricultural exports overcame covid-19<\/strong> with a surge in food demand and opening of new markets, Agriculture Ministry Mohamed Al Qirsh has said, (<a href=\"http:\/\/www.xinhuanet.com\/english\/africa\/2021-06\/28\/c_1310032418.htm\">Xinhua<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/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\/housing\/\">housing<\/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\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- 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year&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/tourism-promo-campaign-to-launch-at-the-end-of-the-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/tourism-promo-campaign-to-launch-at-the-end-of-the-year\/&title=Tourism promo campaign to launch at the end of the year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Tourism+promo+campaign+to+launch+at+the+end+of+the+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Ftourism-promo-campaign-to-launch-at-the-end-of-the-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/tourism-promo-campaign-to-launch-at-the-end-of-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563384\" class=\"content-area-description single-story post-563384 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-enterpriseam tag-kuwait tag-tourism tag-travel wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The <strong>Tourism Ministry<\/strong> <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/166562792180816\">plans<\/a> to launch by the end of the year <strong>a three-year <\/strong><strong>international promotional campaign<\/strong> to revive Egypt\u2019s tourism industry following the covid shutdown. <\/li>\n<li>Kuwaiti budget carrier <strong>Jazeera Airways<\/strong> has requested to begin operating<strong> flights <\/strong><strong>to Egypt<\/strong> and seven other new destinations in early August, CEO Rohit Ramachandran <a href=\"https:\/\/bit.ly\/3hbDt0Y\">said<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/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=\"563385\" 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=\"563385\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/the-delta-variant-is-causing-huge-problems-for-africa\/\">\r\n                            The delta variant is causing huge problems for Africa                        <\/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\/29\/the-delta-variant-is-causing-huge-problems-for-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\/29\/the-delta-variant-is-causing-huge-problems-for-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\/29\/the-delta-variant-is-causing-huge-problems-for-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=The delta variant is causing huge problems for Africa&url=https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/the-delta-variant-is-causing-huge-problems-for-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\/29\/the-delta-variant-is-causing-huge-problems-for-africa\/&title=The delta variant is causing huge problems for Africa\">\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+delta+variant+is+causing+huge+problems+for+Africa+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F06%2F29%2Fthe-delta-variant-is-causing-huge-problems-for-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\/29\/the-delta-variant-is-causing-huge-problems-for-africa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563385\" class=\"content-area-description single-story post-563385 post type-post status-publish format-standard hentry category-covid-watch tag-africa tag-covid-19 tag-enterpriseam tag-pfizer tag-saudi-arabia tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The delta variant is spreading across Africa:<\/strong> A spike in covid-19 cases linked to the highly-contagious delta variant across Africa, which is struggling to obtain enough vaccines, is raising fears that the continent could see a repeat of the tragedy that <a href=\"https:\/\/www.wsj.com\/articles\/india-has-undercounted-covid-19-deaths-by-hundreds-of-thousands-families-and-experts-say-11624795202?mod=article_inline\">befell India<\/a> in April and May, <a href=\"https:\/\/www.wsj.com\/articles\/delta-variant-of-covid-19-surges-across-unvaccinated-africa-11624896315?mod=hp_lead_pos6\">the Wall Street Journal<\/a> reports. At least 20 African countries are grappling with sharp rises in covid-19 infections, with their case tally already surpassing or looking set to top early-pandemic peaks. In the past week alone, infections across the continent have surged 31%.<\/p>\n<p><strong>The delta variant has been detected in at least 13 of Africa\u2019s 54 nations<\/strong>, and is threatening to become the worst episode of the outbreak for the continent. \u201cIt is frightening to see what is going on across the continent,\u201d said John Nkengasong, the director of the Africa CDC. \u201cThis is the first time that we are beginning to see countries report that their health system\u2026the hospitals are completely overwhelmed.\u201d<\/p>\n<p><strong>South Africa just reentered a nationwide lockdown to curb the spread of the variant<\/strong>, with the country\u2019s president, Cyril Ramaphosa, warning that the country is in the \"grip of a devastating wave,\" according to <a href=\"https:\/\/www.businessinsider.com\/delta-variant-covid-south-africa-third-wave-lockdown-restrictions-coronavirus-2021-6\">Business Insider<\/a>.<\/p>\n<p><strong>Egypt is yet to see a swell of cases linked to the delta variant<\/strong>, and is continuing to see its infection rate decline. The Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/120519046925985\">reported<\/a> 376 new covid-19 infections yesterday \u2014 the lowest daily tally since November \u2014 down from 389 the day before. Egypt has now disclosed a total of 280,770 confirmed cases of covid-19. The ministry also reported 33 new deaths, bringing the country\u2019s total death toll to 16,125.<\/p>\n<p><strong>Our covid resilience rating as ranked by <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/graphics\/covid-resilience-ranking\/?srnd=premium-africa&sref=mmeFTDW1\">Bloomberg<\/a><\/strong><strong> has increased slightly:<\/strong> We\u2019re now ranked #33 in the world, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84d063a5-3089-4d27-9030-41952a930d4d\">#38<\/a> at the end of April.<\/p>\n<p><strong>Saudi Arabia will start administering the Pfizer \/ BioNTech vaccine to teenagers<\/strong> <strong>aged 12 to 18<\/strong>, the Saudi Health Ministry said on <a href=\"https:\/\/twitter.com\/SaudiMOH\/status\/1409221517775458312\">Twitter<\/a> on Sunday. Saudi Arabia has so far <a href=\"https:\/\/www.thenationalnews.com\/gulf\/saudi-arabia\/saudi-arabia-approves-pfizer-covid-19-shots-for-children-1.1250504\">administered 17.2 mn doses<\/a> covering around 70% of the adult population, and last week began handing out the second dose of the Pfizer vaccine to people over 50.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563386\" 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=\"563386\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/us-stocks-hit-new-record-highs\/\">\r\n                            US stocks hit new record highs                        <\/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\/29\/us-stocks-hit-new-record-highs\/\" 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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Tech companies led the Nasdaq to close almost 1% in the green, while the S&amp;P 500 closed slightly higher after Facebook had two antitrust lawsuits dismissed. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-27\/asia-stocks-to-open-steady-aussie-dollar-declines-markets-wrap?sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.ft.com\/content\/54f57958-712c-4e3b-bc93-fb78d7fa85c5\">the Financial Times<\/a> have more.<\/p><p><strong>US policymakers are underestimating the threat of inflation and risk pushing the US <\/strong><strong>economy into a recession, Mohamed El Erian told <\/strong><strong><a href=\"https:\/\/www.cnbc.com\/2021\/06\/28\/el-erian-says-the-fed-is-behind-on-inflation-and-risks-another-recession-if-it-is-forced-to-catch-up.html\">CNBC<\/a><\/strong> yesterday. The Federal Reserve is maintaining the recent spike in domestic and global inflation will be temporary and is being caused by post-lockdown supply bottlenecks, but El Erian believes that policymakers may be mistaken. \u201cI have concerns about the inflation story,\u201d he told Squawkbox. \u201cEvery day I see evidence of inflation not being transitory, and I have concern that the Fed is falling behind and that it may have to play catch-up, and history makes you very uncomfortable if you end up in a world in which the Fed has to play catch-up,\u201d he said, suggesting that the economy could be pushed into a recession if the Fed needs to \u201cslam the brakes.\u201d<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,274<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -5.3%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.62<\/p>\n<\/td>\n<td>\n<p>Sell 15.72<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,957<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +26.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,749<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +33.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,839<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: +14.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,290<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +14.2%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,072<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 74.68<\/p>\n<\/td>\n<td>\n<p>-2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.62<\/p>\n<\/td>\n<td>\n<p>+3.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,778.70<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 34,395<\/p>\n<\/td>\n<td>\n<p>+0.2% (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 fell 0.3% at today\u2019s close<\/strong> on turnover of EGP 1.41 bn (11.4% above the 90-day average). Regional investors were net buyers. The index is down 5.3% YTD.<\/p><p><strong>In the green: <\/strong>GB Auto (+3.5%), Credit Agricole Egypt (+3.1%) and Abou Kir Fertilizers (+2.5%).<\/p><p><strong>In the red: <\/strong>Ezz Steel (-6.0%), Orascom Investment Holding (-5.4%) and Orascom Financial Holding (-3.2%).<\/p><p><strong>Asian markets are almost universally in the red this morning<\/strong> on fears that outbreaks of the delta variant of covid-19 in the region could jeopardize the economic recovery, <a href=\"https:\/\/www.reuters.com\/article\/us-global-markets\/asian-shares-pressured-by-fears-over-delta-virus-variant-u-s-data-in-focus-idUSKCN2E508O\">Reuters<\/a> says. European and US shares look set to follow them lower later today, according to the futures markets.<\/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\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/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\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"563387\">\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\">12<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/\">\r\n                            Is the new Waste Management Act the solution for a fragmented industry?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/\">\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=Is the new Waste Management Act the solution for a fragmented industry?&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/&title=Is the new Waste Management Act the solution for a fragmented industry?\">\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=Is+the+new+Waste+Management+Act+the+solution+for+a+fragmented+industry%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fis-the-new-waste-management-act-the-solution-for-a-fragmented-industry%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/366.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=\"563388\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/is-the-new-waste-management-act-the-solution-for-a-fragmented-industry\/366-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/366.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"366.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/366.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/366.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-563387\" class=\"content-area-description post-563387 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-ali-abu-senna tag-enterprise-going-green tag-enterpriseam tag-environment tag-geocycle-egypt tag-hesham-el-garhy tag-infinity tag-karim-sabaa tag-mohamed-nabil-hazzaa tag-tarek-barakat tag-waste-management-law tag-waste-management-regulatory-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Is the new Waste Management Act the solution for a fragmented industry? <\/strong>Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2c4de3-f9d4-4312-855a-f8e0efebedc7\">new<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2c4de3-f9d4-4312-855a-f8e0efebedc7\">Waste Management Act<\/a>, ratified in October 2020, sets an ambitious framework for waste collection, disposal and recycling, sources tell Enterprise. It aims to resolve structural problems in our waste management strategy, including the lack of nationwide collection infrastructure and declining profits from <a href=\"https:\/\/enterprise.press\/hardhats\/egypts-private-sector-waste-management-industry-struggling-heres\/\">recycling<\/a> that followed 2015\u2019s removal of government subsidies. Its executive regulations have been passed to cabinet for review, and are expected to be approved within the next 6-8 weeks, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df2dc7bd-b362-4353-a5a2-7f21cfee75dc\">we recently reported<\/a>.<\/p>\n<p><strong>The act is definitely being perceived as a step in the right direction by private sector waste management companies we\u2019ve spoken with.<\/strong> \u201cThe new law effectively sets the rules, roles, and responsibilities, and has encouraged the private sector to enter the market,\u201d says Tarek Barakat, <a href=\"http:\/\/www.weareinfinity.com\/\">Infinity\u2019s<\/a> Business Development Manager for waste-to-energy. That said, much is still in limbo. Industry players we've reached out to suggest that more needs to be cleared up, especially when it comes to making it worthwhile for waste management companies to continue operating and viable for outside investment.<\/p>\n<p><strong>Why Egypt needed the new framework:<\/strong> The country has been lacking a unified structure for nationwide waste management, and there hasn\u2019t been a centralized authority that sets rules and guidelines, say multiple sources. Previously, waste management regulations were based on two disparate and outdated laws \u2014 the <a href=\"http:\/\/www.fao.org\/faolex\/results\/details\/en\/c\/LEX-FAOC152515\/#:~:text=Law%20No.,specifications%20in%20the%20executive%20regulations.\">General Public Cleaning Act<\/a>, which was last updated in 1976, and <a href=\"http:\/\/www.eeaa.gov.eg\/en-us\/laws\/envlaw.aspx\">the Environment Act<\/a>, last amended in 2009 \u2014 Mohamed Nabil Hazzaa, Partner at law firm <a href=\"https:\/\/www.sharkawylaw.com\/\">Sharkawy and Sarhan<\/a>, tells us.<\/p>\n<p><strong>This state of decentralization has hurt sector efficiency: <\/strong>The industry is currently highly disorganized and informal since waste collection takes place at the level of individual governorates, says Aly Abu Senna, an advisor to the Environment Ministry. Those governorates differ considerably in policies, incentive structures, and how much they make it profitable for industry players to operate, he adds. Much is also done by the informal economy, with uneven standards of waste disposal and recycling applied, according to Abu Senna.<\/p>\n<p><strong>\u2026And profitability: <\/strong><a href=\"https:\/\/www.geocycle.com\/egypt_temp\">Geocycle Egypt<\/a> pays rent and electricity to operate on land leased by one governorate, Commercial and Supply Chain Manager Hesham El Garhy tells Enterprise. \u201cWe should be working at no charge or even getting paid, because we\u2019re performing an important service by treating governorate waste.\u201d Other governorates operate differently, with some paying waste management companies, he believes.<\/p>\n<p><strong>The new act will provide a single framework:<\/strong> The act is setting up a national structure to manage waste collection and disposal for the first time, says Abu Senna. It\u2019s expanded the role of the <a href=\"http:\/\/www.wmra.gov.eg\/en-us\/Pages\/default.aspx\">Waste Management Regulatory Authority<\/a>: instead of just being an intermediary, it will now set regulation, collect fees, advise stakeholders, and be authorized to inspect facilities and instigate criminal procedures in the event of violations, says Hazzaa.<\/p>\n<p><strong>So governorate waste disposal will be WMRA-directed:<\/strong> Individual governorates will continue to set their plans for safe waste disposal, but these will be based on general WMRA directives, then approved by a ministerial committee, says Hazzaa. Waste management companies like Geocycle might have to continue to pay user fees, but rates will be centrally reviewed by the ministerial committee, he says. This could initially lengthen the process of finalizing agreements, but it\u2019s a positive step towards standardization, he believes. \u201cYou won\u2019t see widely varying terms between one governorate and another.\u201d<\/p>\n<p><strong>It will set out stricter licensing requirements for waste management companies: <\/strong>Waste management companies will have to be licensed by the WRMA to operate legally, and companies producing waste will see penalties enforced if they don\u2019t dispose of it appropriately, says Hazzaa.<\/p>\n<p><strong>And non-compliance penalties for companies wanting to get rid of waste: <\/strong>Penalties for improper waste disposal vary according to the violation, says Hazzaa. For non-hazardous waste, penalties would normally be a fine of EGP 10k-100k, with possible imprisonment for repeat offences. For hazardous waste, penalties could be EGP 100k-1mn, and imprisonment, or even EGP 500k-3mn and imprisonment if waste is dumped in the waterways, Hazzaa says.<\/p>\n<p><strong>The government is planning to spend much more on waste management:<\/strong> Annual revenues from cleaning fees could increase to EGP 8 bn, up from their current EGP 320 mn, under the new act, says Abu Senna.<\/p>\n<p><strong>How will it do this? Let\u2019s just say, your electricity bills will go up: <\/strong>The government is planning to increase the cleaning fees that are tacked on to electricity bills, and then funnel them into government subsidies for waste management companies, Abu Senna and Hazzaa confirm. Cleaning fees will increase to EGP 40 from EGP 2 per month for residential units, and to EGP 100 from EGP 30 for independent commercial units. Fees for government buildings, private schools, hospitals and similar facilities will be capped at EGP 5k per month. And fees for private sector commercial buildings, hotels and similar facilities will be capped at EGP 20k per month, Abu Senna says.<\/p>\n<p><strong>These cleaning fees and 25% of property tax will go into governorate budgets,<\/strong> to contract and pay licensed waste management companies for their services, say Abu Senna and Hazzaa.<\/p>\n<p><strong>And other financial incentives will attract more private sector players, <\/strong>says Abu Senna, although these have not yet been finalized, he notes. Possible incentives include expanding the Investment Act to include tax and customs breaks for waste management companies, along with concessional lending schemes for SMEs, says Hazzaa. \u201cConcessional financing would be particularly interesting for SMEs, because their main problem is funding. Tax and customs would be bigger incentives for companies planning larger investments.\u201d<\/p>\n<p><strong>But will the new act really be more inclusive of the informal economy? It\u2019s unclear. <\/strong>Smaller companies will struggle to obtain operating licenses under the new act\u2019s stricter requirements, says El Garhy. But this means that companies with poor waste disposal practices won\u2019t be able to operate \u2014 which he sees as positive, ultimately improving the sector. But the new act has also been touted as being more inclusive of the informal economy. It\u2019s unclear how these two seemingly contradictory aspects of the act will be reconciled, says Hazzaa. \u201cAmong the new tasks of the WMRA is studying how to include the informal sector working in waste management in the licensing scheme. We still don\u2019t know how it can be implemented.\u201d<\/p>\n<p><strong>Private sector players are positive, but not necessarily committing to new investment just yet: <\/strong>The new act clarifies many aspects of the waste management system, and creates a clear role for the private sector, says Karim El Sabee, CEO of waste management company <a href=\"http:\/\/www.relianceegypt.com\/index.html\">Reliance Investments<\/a>. But the executive regulations need to be seen before the feasibility of new investment can be decided, he adds.<\/p>\n<p><strong>Ultimately, the test of the new act will be how enforceable it is,<\/strong> says Hazzaa. Enforceability is difficult to gauge, but it\u2019s clear the government has thought about many things, he says. \u201cIt will require a lot of cooperation between different stakeholders falling under different ministries, which could be challenging. But I think it will all come down to political will, which I see being there, specifically with waste management.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Green bonds<\/strong>: The first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c062674-f53c-4868-b5ab-3a5cb71cc371\">local green bonds sale worth USD 100 mn<\/a> could start within two to three weeks.<\/li>\n<li><strong>ESG reporting<\/strong>: The FRA could soon ask companies listed on the EGX, as well as non-banking financial institutions under its purview, to begin making <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4bccf0a8-c43b-493e-9cf9-9590db67110a\">ESG disclosures<\/a>.<\/li>\n<li><strong>New waste-to-energy plant<\/strong>: Egypt launched its first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76c4f48e-e73e-42a4-8c6e-03d0fab064e0\">waste-to-energy plant<\/a> in Fayoum, with a capacity of 100 kW\/h of electricity with zero carbon emissions.<\/li>\n<li><strong>Water projects<\/strong>: Egyptian and Russian officials discussed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9333b45-4253-4546-b1f7-569391b24bd3\">potential cooperation<\/a> in water treatment, waste recycling and air purification projects<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-abu-senna\/\">Ali Abu Senna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/geocycle-egypt\/\">Geocycle Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hesham-el-garhy\/\">Hesham El Garhy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karim-sabaa\/\">Karim Sabaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-nabil-hazzaa\/\">Mohamed Nabil Hazzaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-barakat\/\">Tarek Barakat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/waste-management-law\/\">waste management law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/waste-management-regulatory-authority\/\">Waste Management Regulatory Authority<\/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=\"563389\" 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\/29\/your-essential-business-calendar-on-29-june-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563389\" class=\"content-area-description single-story post-563389 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>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>29 June (Tuesday): The London School of Economics (LSE) discussion \u201c<a href=\"https:\/\/www.lse.ac.uk\/africa\/Events\/Public-Events\/Policy-Reform-Rania-Al-Mashat\">Policy Reform in the Making: Stakeholder Engagement through Economic Diplomacy<\/a>\u201d from 3pm-4:15pm. You can register through <a href=\"https:\/\/lse.zoom.us\/webinar\/register\/WN_SvozdZzER9S9yAhBRgKE9w\">this link<\/a>.<\/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): 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>1-10 July (Thursday-Saturday): The government\u2019s fuel pricing committee <a href=\"https:\/\/bit.ly\/3wQkCz2\">will meet to announce<\/a> 3Q prices.<\/p>\n<p>4 July (Sunday): Ismailia Economic Court to hold hearing on Ever Given compensation case.<\/p>\n<p>Mid-July: <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20062021&id=8bcd83a3-21d4-44b1-940d-ddcc78544942\">Legislative session expected to end<\/a>.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>21 July (Wednesday): Clean Energy Business Council\u2019s webinar <a href=\"https:\/\/www.eventbrite.ca\/e\/joint-event-wire-clean-energy-business-council-mena-tickets-157709897549\">Women entrepreneurs in clean energy<\/a> (3pm)<\/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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/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>3-5 September <sup><\/sup>(Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/almalnews.com\/%D9%84%D9%84%D9%85%D8%B1-%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%B1%D8%A4%D8%B3%D8%A7%D8%A1-%D8%A7%D9%84%D9%82%D8%B7\/\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/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): 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 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>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/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>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/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>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":563366,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-563365","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"22f02ea9-7f92-498a-ad6d-b69cc2474b87","teaser":"","photo_url":"https:\/\/ent.news\/2021\/6\/359.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>A private sector minimum wage is smart policy. Mandatory bonuses? Not so much. - 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\/a-private-sector-minimum-wage-is-smart-policy-mandatory-bonuses-not-so-much\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A private sector minimum wage is smart policy. Mandatory bonuses? 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