{"id":563790,"date":"2021-07-25T04:00:22","date_gmt":"2021-07-25T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=563790"},"modified":"2025-12-16T04:15:44","modified_gmt":"2025-12-16T04:15:44","slug":"govt-hikes-fuel-prices-for-second-consecutive-quarter","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-hikes-fuel-prices-for-second-consecutive-quarter\/","title":{"rendered":"Gov\u2019t hikes fuel prices for second consecutive quarter"},"content":{"rendered":"<section id=\"563792\" 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=\"563792\">\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\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/\">\r\n                            THIS MORNING: An impending cabinet shuffle? House to vote on irrigation bill; Good news\/bad news on Pfizer vax; Day 1 of Tokyo 2020.                        <\/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\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/\" 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\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/')\">\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\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: An impending cabinet shuffle? House to vote on irrigation bill; Good news\/bad news on Pfizer vax; Day 1 of Tokyo 2020.&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/\">\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\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/&title=THIS MORNING: An impending cabinet shuffle? House to vote on irrigation bill; Good news\/bad news on Pfizer vax; Day 1 of Tokyo 2020.\">\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+An+impending+cabinet+shuffle%3F+House+to+vote+on+irrigation+bill%3B+Good+news%2Fbad+news+on+Pfizer+vax%3B+Day+1+of+Tokyo+2020.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fthis-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020%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\/07\/25\/this-morning-an-impending-cabinet-shuffle-house-to-vote-on-irrigation-bill-good-news-bad-news-on-pfizer-vax-day-1-of-tokyo-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563792\" class=\"content-area-description single-story post-563792 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-cabinet-shuffle tag-covid-19 tag-enterpriseam tag-irrigation tag-israel tag-legislation tag-pfizer tag-politics tag-sports 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>And we\u2019re back \u2026<\/strong><\/p><p><strong>Good morning ladies and gents<\/strong>, and welcome back from a well-earned week-long break. We hope all of our readers had a happy Eid and are feeling as refreshed as us here at Enterprise HQ.<\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>The holiday has hardly finished but we\u2019re already getting rumors of a major post-Eid <\/strong><strong>cabinet shuffle.<\/strong> Unnamed government sources have reportedly told <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25072021&amp;id=e7e61c4a-1018-4453-b376-4014bf5c9a8d\">Al Shorouk<\/a> that as many as 10 ministers could soon be on their way out, with an announcement expected either at the end of this week or the middle of the next.<\/p><p><strong>Who could be getting replaced?<\/strong> Al Shorouk\u2019s sources claim that Oil Minister Tarek El Molla, Public Enterprises Minister Hisham Tawfik, Environment Minister Yasmine Fouad, Higher Education Minister Khaled Abdel Ghaffar, Local Development Minister Mahmoud Shaarawy, and Parliamentary Affairs Minister Alaa Fouad are among the ministers who could be on their way out.. We should also be getting a new information minister after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d0d62c63-0cd9-4224-93ed-5407e37938fe\">Osama Heikal\u2019s resignation<\/a> back in April.<\/p><p><strong>WHAT\u2019S HAPPENING THIS WEEK-<\/strong><\/p><p><strong>The House is <\/strong><strong><a href=\"http:\/\/www.parliament.gov.eg\/SESSIONS_SHOW.aspx\">expected to today hold a final vote<\/a><\/strong><strong> on <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307bebcd-a423-4957-9b6c-d13514a498e4\">a draft law that would impose fees<\/a><\/strong> <strong>on the use of water for irrigation<\/strong>. The move aims to regulate how the country utilizes its water resources amid threats from climate change and the Grand Ethiopian Renaissance Dam, through limiting the use of some of the nation\u2019s canals for agriculture and reducing water wastage.<\/p><p><strong>YOUR ESSENTIAL COVID STORY OF THE MORNING-<\/strong> <strong>There\u2019s good news and bad news <\/strong><strong>from Israel<\/strong>. As the world grapples with the spread of the infectious delta variant, a new study into the performance of the Pfizer\/BioNTech vaccine in one of the world\u2019s most vaccinated countries will validate the positions in both the optimist and the pessimist camps. It should be noted, though, that the study is both preliminary and small-scale, so we should all take these findings with a grain of salt.<\/p><p><strong>The good news:<\/strong> Pfizer\/BioNTech remains effective at preventing people from becoming seriously ill with covid, even those infected by the delta variant. The vaccine has a <a href=\"https:\/\/twitter.com\/MartinJuhl2\/status\/1418273537803145220\">88-91% efficacy rate<\/a> at preventing hospitalizations and severe disease.<\/p><p><strong>The bad news:<\/strong> The vaccine is now much less effective at preventing infection. Two shots of the vaccine was just 39% effective at preventing infection and 40% effective at limiting symptomatic disease.<\/p><p><strong>The story got coverage everywhere in the global press<\/strong> from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-23\/pfizer-shot-just-39-effective-in-halting-delta-israel-says?sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.wsj.com\/articles\/pfizer-covid-19-vaccine-is-less-effective-against-delta-infections-but-still-prevents-serious-illness-israel-study-shows-11627059395\">the Wall Street Journal<\/a> to <a href=\"https:\/\/www.nytimes.com\/2021\/07\/23\/science\/covid-vaccine-israel-pfizer.html\">the New York Times<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/07\/23\/delta-variant-pfizer-covid-vaccine-39percent-effective-in-israel-prevents-severe-illness.html\">CNBC<\/a>.<\/p><hr class=\"grey-line\"><p><strong>EGYPT IN TOKYO 2020: Day 1.<\/strong> Here are the highlights from the opening day of the Games:<\/p><ul>\n<li><strong>Handball:<\/strong> The men\u2019s handball team got off to a good start, <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/results-men-gpb-000200-.htm\">beating Portugal 37-31<\/a> in the opening match to <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/handball\/groups-men.htm\">go second in Group B<\/a>.<\/li>\n<li><strong>Tennis:<\/strong> Maiar Sherif suffered a first-round exit in the women\u2019s singles,<a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/tennis\/result-women-s-singles-r64-001100-.htm\">losing in straight sets<\/a> to Sweden\u2019s Rebecca Peterson.<\/li>\n<li><strong>Swimming:<\/strong> Marwan Aly El Kamash <a href=\"https:\/\/olympics.com\/tokyo-2020\/olympic-games\/en\/results\/swimming\/results-men-s-400m-freestyle-heat-000300-.htm\">came second in the third heat<\/a> of the 400m freestyle while Farida Osman came last in her heat of the women\u2019s 100m butterfly.<\/li>\n<li><strong>Table tennis:<\/strong> Egypt\u2019s entrants both suffered defeats yesterday, after Yousa Helmy lost 4-0 to France\u2019s Jia Nan Yuan and Omar Assar and Dina Meshref lost their mixed doubles tie to South Korea 4-1.<\/li>\n<\/ul><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Clean Energy Business Council will host <\/strong><strong><a href=\"https:\/\/www.eventbrite.ca\/e\/joint-event-wire-clean-energy-business-council-mena-tickets-157709897549\">a webinar<\/a><\/strong><strong> focused on female <\/strong><strong>entrepreneurs<\/strong> in the MENA renewable energy scene at 3 pm on Wednesday, 28 July.<\/p><p><strong>Egypt will host the <\/strong><strong><a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a><\/strong><strong> exhibition<\/strong> at the Egypt International Exhibition Center on 2-4 August.<\/p><p><strong>The Central Bank of Egypt will meet to review interest rates<\/strong> on Thursday, 5 August.<\/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>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-shuffle\/\">cabinet shuffle<\/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\/irrigation\/\">irrigation<\/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\/legislation\/\">legislation<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"563793\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider 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  <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563794\" 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=\"563794\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-prices-hiked-by-up-to-3-8\/\">\r\n                            Fuel prices hiked by up to 3.8%                        <\/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\" 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                   <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/222.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563795\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-prices-hiked-by-up-to-3-8\/222-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/222.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"222.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/222.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/222.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563794\" class=\"content-area-description single-story post-563794 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-fuel tag-inflation tag-oil-and-gas 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> Fuel prices hiked for second consecutive quarter:<\/strong> The government raised fuel prices by up to 3.8% over the weekend in response to rising international oil prices, the Oil Ministry said in <a href=\"https:\/\/www.petroleum.gov.eg\/ar-eg\/media-center\/news\/news-pages\/Pages\/mop_23072021_01.aspx\">a statement<\/a> on Friday. This means that motorists will now pay an extra EGP 0.25 per liter for 95, 92 and 80 octane fuel during 3Q2021. As of Friday:<\/p>\n<ul>\n<li><strong>95-octane<\/strong> has risen 2.9% to EGP 9 per liter, up from EGP 8.75;<\/li>\n<li><strong>92-octane<\/strong> has risen 3.2% to EGP 8, from EGP 7.75;<\/li>\n<li><strong>80-octane<\/strong> has risen 3.8% to EGP 6.75, from EGP 6.50.<\/li>\n<\/ul>\n<p><strong>Diesel and mazut prices remain unchanged:<\/strong> Prices of mazut fuel oil for use in factories will remain at EGP 3.9k per tonne, while diesel prices are still EGP 6.75 per liter.<\/p>\n<p><strong>This is the second consecutive price hike:<\/strong> Fuel prices have now risen 5.9-8%<sup><\/sup> so far this year after the fuel pricing committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5afe47b0-964c-4fa8-b9de-c0e71d2fc357\">made a similar increase<\/a> at the beginning of 2Q2021.<\/p>\n<p><strong>These prices will remain fixed until through 3Q2021<\/strong> and will be reviewed again by the fuel pricing committee at the beginning of 4Q in October.<\/p>\n<p><strong>The price of oil has been on a tear so far this year<\/strong>, surging more than 43%<sup><\/sup> as increasing demand and covid-era production cuts cause global supply to tighten, Brent increased 18%<sup><\/sup> during 2Q alone, surpassing the USD 76\/bbl mark for the first time since November 2018.<\/p>\n<p><strong>Brent is now significantly above the benchmark price used to calculate the state budget:<\/strong> The Finance Ministry estimated that Brent will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">average USD 60\/bbl<\/a> during the current fiscal year, a level which hasn\u2019t been seen since the end of 1Q2021.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563796\" 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=\"563796\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/regulator-approves-bank-abcs-egp-6-7-bn-blom-mto\/\">\r\n                            Regulator approves Bank ABC\u2019s EGP 6.7 bn Blom MTO                        <\/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\/07\/25\/regulator-approves-bank-abcs-egp-6-7-bn-blom-mto\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The transaction would see the Gulf lender purchase up to 100% of Blom Egypt at EGP 22.33 a share, valuing the business at USD 427 mn (EGP 6.7 bn).<\/p>\n<p><strong>Bank ABC <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4774254-3f3f-4ace-a146-36ec5de1e8e2\">submitted its MTO on<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4774254-3f3f-4ace-a146-36ec5de1e8e2\">13<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4774254-3f3f-4ace-a146-36ec5de1e8e2\">July<\/a><\/strong>, and will be obliged to pay the purchase price in USD at the exchange rate stated by the CBE during the seven days preceding the FRA\u2019s approval on the MTO. The Lebanese and Bahraini central banks <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e80a4de-868b-4ac1-a485-5fd67b7c2da1\">approved the transaction<\/a> earlier this year, but we have yet to hear anything from the Central Bank of Egypt regarding the sale.<\/p>\n<p><strong>Bank ABC reached an agreement to purchase Blom\u2019s Egypt unit <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f5950c1-ec0e-48cd-a605-1f1807efcbca\">in January this year<\/a><\/strong> following several months of speculation about whether fellow GCC lender Emirates NBD <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37cf47b3-8980-4803-8356-afb514ed27de\">would compete<\/a> for the acquisition. ABC already has a presence in Egypt through its 93% stake in Bank ABC Egypt. Blom and Bank Audi are both leaving Egypt as they cope with fallout from a severe financial crisis in their home market of Lebanon, with Bank Audi due to finish transferring its Egypt assets to First Abu Dhabi Bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb1b0f90-8b66-49c2-a2d9-5128a0be09c6\">next year<\/a>. The National Bank of Greece (NBG) is also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72e8da57-bd67-43bc-af09-ca3b62637ed3\">set to terminate its activities in the Egyptian market<\/a> after <a href=\"https:\/\/enterprise.press\/stories\/2017\/11\/26\/national-bank-of-greece-reportedly-looking-to-exit-egypt\/\">years<\/a> of unsuccessful attempts to divest its portfolio here.<\/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\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-abc\/\">Bank ABC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blom-bank\/\">Blom Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563798\" 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=\"563798\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/russian-flights-to-the-red-sea-to-resume-in-2-weeks\/\">\r\n                            Russian flights to the Red Sea to resume in 2 weeks                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/225.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563799\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/russian-flights-to-the-red-sea-to-resume-in-2-weeks\/225-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/225.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"225.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/225.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/225.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563798\" class=\"content-area-description single-story post-563798 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-enterpriseam tag-hurghada tag-red-sea tag-russia tag-sharm-el-sheikh tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Russia to make its long-awaited return to Egypt on 9 August<\/strong>: Flights between Moscow and Egypt\u2019s Red Sea resorts will resume on 9 August following a six-year hiatus, Russian news agency <a href=\"https:\/\/tass.com\/economy\/1317265\">Tass<\/a> reports, citing a statement by Russia\u2019s anti-coronavirus crisis center on Friday.<\/p>\n<p><strong>What\u2019s the plan?<\/strong> Five flights will run each week between Moscow and Sharm El Sheikh, and Moscow and Hurghada, according to the statement.<\/p>\n<p><strong>The number of flights could be increased later<\/strong>: Russian authorities could decide to increase the number of weekly flights after a Russian epidemiological team visits Egypt to assess the covid-19 situation, the statement said, without mentioning when the delegation would arrive in the country.<\/p>\n<p><strong>This comes two weeks after<\/strong> <strong>Russian President Vladimir Putin <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9855c3e-2e9d-45bc-a9d8-e1e15007d087\">lifted the six-year ban on direct flights<\/a><\/strong> between Russia and Red Sea resort towns, which was introduced for security reasons following the 2015 <a href=\"https:\/\/enterprise.press\/issues\/2015\/11\/01\/authorities-downplay-wilayet-sina-claim-of-terror-attack-as-russian-charter-goes-down-in-sinai\/\">Metrojet crash<\/a> in Sinai. This comes a week before Russia proposed to set up a Russian-Egyptian group that will carry out \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dd2f94c-3782-4e30-99c7-1d3c7b8cdfac\">round-the-clock monitoring<\/a>\u201d of the covid-19 situation in Egypt to protect Russian tourists.<\/p>\n<p><strong>High prices could limit Russian arrivals:<\/strong> Only regular flights will be permitted at first, said Maya Lomidze, executive director of the Association of Tour Operators of Russia. The cost of regular flights is higher than charter flights, meaning that Egypt may not see a rapid surge in the number of Russian tourists, she said.<\/p>\n<p><strong>Egypt is expecting a large bounce:<\/strong> Deputy Tourism Minister Ghada Shalaby made separate statements that Egypt expects from <a href=\"https:\/\/arabic.sputniknews.com\/arab_world\/202107091049521340-%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%B3%D8%AA%D9%82%D8%A8%D8%A7%D9%84-%D9%85%D9%86-300-%D8%A5%D9%84%D9%89-400-%D8%A3%D9%84%D9%81-%D8%B3%D8%A7%D8%A6%D8%AD-%D8%B1%D9%88%D8%B3%D9%8A-%D8%B4%D9%87%D8%B1%D9%8A%D8%A7\/\">300k to 400k<\/a> Russian tourists per month after lifting the ban.<\/p>\n<p><strong>This could help us achieve our tourism targets: <\/strong>The government wants to bring in between<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dfb2aca-9170-4294-8bfe-e91864b1a1f6\">USD 6-9 bn<\/a> in tourist revenues this year, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15f0df47-4379-4fd9-a53b-2b079effa7ad\">USD 4 bn<\/a> in 2020. Revenues reached <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15f0df47-4379-4fd9-a53b-2b079effa7ad\">USD 3.5-4 bn<\/a> during the first six months of 2021 after 3.5 mn tourists visited the country. The return of Russia-Red Sea flights could eventually bring in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f1b022f-f020-40b7-a599-9a920e8b91d9\">some USD 3 bn in annual tourism revenues<\/a>, Goldman Sachs has estimated.<\/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\/hurghada\/\">Hurghada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/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=\"563800\" 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=\"563800\">\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\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/\">\r\n                            Ethiopia completes second GERD filling despite Egypt and Sudan protests                        <\/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\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/\" 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\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/')\">\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\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/\">\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=Ethiopia completes second GERD filling despite Egypt and Sudan protests&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/\">\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\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/&title=Ethiopia completes second GERD filling despite Egypt and Sudan protests\">\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=Ethiopia+completes+second+GERD+filling+despite+Egypt+and+Sudan+protests+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests%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\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/226.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563801\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/ethiopia-completes-second-gerd-filling-despite-egypt-and-sudan-protests\/226-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/226.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"226.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/226.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/226.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563800\" class=\"content-area-description single-story post-563800 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-boris-johnson tag-china tag-diplomacy tag-enterpriseam tag-ethiopia tag-gerd tag-sudan tag-uk tag-water 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>Ethiopia finished the second phase of filling the reservoir of the Grand Ethiopean <\/strong><strong>Renaissance Dam (GERD) reservoir on Monday<\/strong>, Ethiopia's Water Minister Seleshi Bekele <a href=\"https:\/\/twitter.com\/seleshi_b_a\/status\/1417077665681584128\">wrote on social media<\/a>. The dam is expected to generate power in the coming months, Bekele said, adding that the dam has enjoyed a rapid filling thanks to extreme rainfall this season in the Nile Basin.<\/p>\n<p><strong>Ethiopia began filling the dam last summer<\/strong>, collecting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3109747f-ca2a-4f71-b760-9b7201ae16e3\">4.9 bn cubic meters of water<\/a>. The second phase was expected to raise this to 18.4 bcm, though the Ethiopian government hasn\u2019t clarified how much water has been stored in the latest filling. The 74 bcm-capacity dam is expected to take <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3109747f-ca2a-4f71-b760-9b7201ae16e3\">5-7 years to fill<\/a>.<\/p>\n<p><strong>Egypt continues to view the GERD as a grave threat to its water supply, <\/strong>with President Abdel Fattah El Sisi condemning Ethiopia\u2019s plans to press ahead with the filling of the dam, in an <a href=\"https:\/\/bit.ly\/3wWi8OQ\">address<\/a> given three days prior to Ethiopia announcing its completion. The president reiterated that Egypt\u2019s national security is a red line and stressed the need to reach a binding agreement on the filling and operation of the dam.<\/p>\n<p><strong>This was the first public statement by the president on the dispute since Egypt and Sudan failed to get the backing of the UN Security Council<\/strong> in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a20e66d-13a3-4e21-bf2b-243a698831f3\">a meeting<\/a> earlier this month. The two countries had hoped to persuade global powers to take a more aggressive position towards Ethiopia and pressure it to return to the negotiating table with different mediators, but the council declined to condemn its decision to unilaterally fill the dam and called on all three countries to continue the current African Union-led process.<\/p>\n<p><strong>The prospect of a water shortage has Egypt prioritising water resources projects<\/strong>, from the <a href=\"https:\/\/bit.ly\/3kRyPsc\">rehabilitation and lining of canals<\/a> to seawater desalination plants. In his address, President Sisi stressed that these projects would help offset the effect of the dam on Egypt\u2019s water supply, adding that there was no need to worry just yet.<\/p>\n<p><strong>The story was big news in the foreign press last week:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/africa\/second-filling-ethiopias-giant-dam-nearly-complete-state-run-media-2021-07-19\/\">Reuters<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20210719-ethiopia-hits-second-year-target-for-filling-nile-mega-dam\">AFP<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/topics\/cwlw3xz047jt\/ethiopia?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=60f55b792a60096481ab559b%26Ethiopia%20meets%20dam%20filling%20target%20amid%20controversy%262021-07-19T11%3A09%3A06.610Z&ns_fee=0&pinned_post_locator=urn:asset:96d299c2-3bec-45c4-b909-262ae755b2f1&pinned_post_asset_id=60f55b792a60096481ab559b&pinned_post_type=share\">BBC<\/a>.<\/p>\n<p><strong>IN <\/strong><strong>OTHER DIPLO NEWS-<\/strong><\/p>\n<p><strong>Egypt has joined the Shanghai Cooperation Organization as a \u201cdialogue partner.\u201d<\/strong> China\u2019s foreign minister Wang Yi <a href=\"https:\/\/bit.ly\/3eU5nho\">informed<\/a> President Abdel Fattah El Sisi last week that Egypt\u2019s bid to join the Eurasian political, economic, and security alliance has been approved. As a dialogue partner, Egypt will be able to participate in the organization\u2019s activities and summits but won\u2019t become a full member.<\/p>\n<p><strong>About the SCO: <\/strong>Founded in 1996, the SCO was originally designed to increase cooperation between Russia, China and the former USSR states in Eurasia but has expanded to include other regional powers such as India, Iran, Turkey and Pakistan. Egypt and Saudi Arabia are the first Arab states to become SCO members.<\/p>\n<p><strong>President Abdel Fattah El Sisi also discussed bilateral relations with UK Prime <\/strong><strong>Minister Boris Johnson, <\/strong>in a phone call during which the president stressed Egypt\u2019s stance in the GERD dispute, in addition to deepening cooperation on trade, investment, education, and health projects, according to an Ittihadiya <a href=\"https:\/\/bit.ly\/3zqASaK\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/boris-johnson\/\">Boris Johnson<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563802\" 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=\"563802\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\">\r\n                            Tycoon isn\u2019t out of the race for ANFI                        <\/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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\" 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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/')\">\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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\">\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=Tycoon isn\u2019t out of the race for ANFI&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\">\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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/&title=Tycoon isn\u2019t out of the race for ANFI\">\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=Tycoon+isn%E2%80%99t+out+of+the+race+for+ANFI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Ftycoon-isnt-out-of-the-race-for-anfi%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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563803\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/227-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"227.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563802\" class=\"content-area-description single-story post-563802 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-abu-dhabi tag-adq tag-alexandria-national-company-for-financial-investments tag-amoun-pharma tag-compass-capital tag-enterpriseam tag-financial-regulatory-authority tag-kayan-sustainable-development tag-ma-watch tag-pharma tag-tycoon-holding tag-uae tag-zaldi-capital 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>Tycoon back in the running for ANFI: <\/strong>Tycoon Holding wants to up its bid for Alexandria National Company for Financial Investments (ANFI) to EGP 6.25 from EGP 5.60, the Financial Regulatory Authority said in <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/265860_1.pdf\">a statement (pdf)<\/a> last Sunday. Tycoon\u2019s offer values ANFI at EGP 32.7 mn<sup><\/sup>, and if successful would see the investment company acquire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4871b8d6-2744-4108-af2b-d3ef0dc80a02\">a 90% stake<\/a> (4.7 mn shares) in the firm.<\/p>\n<p><strong>This would be the highest offer yet for the investment firm<\/strong>, beating out Compass Capital\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4a5e513-d04e-492f-b052-e686a8046e1d\">EGP 6.12 per share offer<\/a>, and Zeta investments\u2019 EGP 6.00 bid which was rejected by shareholders earlier this month. Tycoon is targeting a 90% stake in the company<\/p>\n<p><strong>Tycoon had <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4871b8d6-2744-4108-af2b-d3ef0dc80a02\">made its offer for 90% of ANFI<\/a><\/strong><strong> in June <\/strong>in what has turned into a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe3135e-1f51-4fb6-963b-163a781a6adf\">bidding war<\/a> that has also garnered interest from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">Kayan Sustainable Development<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe3135e-1f51-4fb6-963b-163a781a6adf\">Zaldi Capital<\/a>, and a group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia\u2019s Mostafa El Humeidan. Gulf lender ADIB is the seller in the transaction.<\/p>\n<p><strong>OTHER M&A NEWS- <\/strong><\/p>\n<p><strong>Amoun Pharma completed <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/963f2cc8-97fe-4ad7-a4ca-650c06117651\">the sale of 99.9% of its shares<\/a><\/strong><strong> to Abu Dhabi sovereign fund <\/strong><strong>ADQ in Thursday\u2019s trading session<\/strong>, the company announced to the EGX, according to <a href=\"https:\/\/almalnews.com\/%D8%A2%D9%85%D9%88%D9%86-%D9%84%D9%84%D8%A3%D8%AF%D9%88%D9%8A%D8%A9-%D8%A3%D8%A8%D9%88-%D8%B8%D8%A8%D9%8A-%D8%A7%D9%84%D9%82%D8%A7%D8%A8%D8%B6%D8%A9-%D9%86%D9%81%D8%B0%D8%AA-%D8%B9%D8%B1%D8%B6-%D8%A7\/\">Al Mal<\/a>. Shareholders had agreed to sell 271.78 mn of the company's 272.2 mn shares to ADQ subsidiary Ultra Welfare, with ADQ offering EGP 37.8 per share and valuing the company at almost EGP 10.3 bn.<\/p>\n<p><strong><a href=\"https:\/\/elashrygroup.com\/\">Ashry Steel<\/a><\/strong><strong> is in talks to acquire <\/strong><strong><a href=\"https:\/\/arcosteel.com.eg\/ar\">Arco Steel<\/a><\/strong>, and is negotiating with a number of Kuwaiti and Saudi investors who could take part in the purchase, Ashry Steel Chairman Ayman El Ashry told Enterprise, denying a report by <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=17072021&id=19013e7b-6077-41c0-9694-f0460ff893e9\">Al Shorouk<\/a> that claimed company shareholders had already agreed to sell their stakes. El Ashry said he expects the acquisition to formally move forward in August, but did not reveal the value of the potential purchase.<\/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\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-national-company-for-financial-investments\/\">Alexandria National Company for Financial Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amoun-pharma\/\">Amoun Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/compass-capital\/\">Compass Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kayan-sustainable-development\/\">Kayan Sustainable Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tycoon-holding\/\">Tycoon Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zaldi-capital\/\">Zaldi 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=\"563804\" 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=\"563804\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/\">\r\n                            E-commerce startup Taager receives USD 6.4 mn seed funding                        <\/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\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/\" 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\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/')\">\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\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/\">\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=E-commerce startup Taager receives USD 6.4 mn seed funding&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/\">\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\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/&title=E-commerce startup Taager receives USD 6.4 mn seed funding\">\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=E-commerce+startup+Taager+receives+USD+6.4+mn+seed+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fe-commerce-startup-taager-receives-usd-6-4-mn-seed-funding%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\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563805\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/e-commerce-startup-taager-receives-usd-6-4-mn-seed-funding\/228-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563804\" class=\"content-area-description single-story post-563804 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-4dx-ventures tag-beco-capital tag-e-commerce tag-enterpriseam tag-startup-watch tag-taager wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egyptian e-commerce startup <\/strong><strong><a href=\"https:\/\/taager.com\/\">Taager<\/a><\/strong><strong> has secured USD 6.4 mn in a seed funding round<\/strong>, according to <a href=\"https:\/\/techcrunch.com\/2021\/07\/15\/egyptian-social-e-commerce-platform-taager-raises-6-4m-led-by-4dx-ventures\/\">TechCrunch<\/a>. The round was led by Africa-focused VC firm 4DX Ventures and also included participation from Raed Ventures, Beco Capital, Breyer Capital and private investors, including Careem co-founder Magnus Olsson.<\/p>\n<p><strong>Taager has now raised more than USD 7 mn from investors since launching in 2019<\/strong>. The company will channel the latest investment into its operations, including making new hires and expanding across the MENA region.<\/p>\n<p><strong>What is Taager?<\/strong> Taager is a B2B platform that connects online merchants and suppliers, supplying merchants with storage and shipping services as well as an integrated data-led digital infrastructure. Taager now has 5k merchants available on its platform, which contribute to a 40% m-o-m increase in Gross Merchandise Value, CEO Mohammed El Horishy said.<\/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\/4dx-ventures\/\">4dx Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beco-capital\/\">Beco Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taager\/\">Taager<\/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=\"563806\" 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=\"563806\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/\">\r\n                            Only 5 companies from each sector to be included in EGX after August rebalancing                        <\/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\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/\" 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\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/')\">\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\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/\">\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=Only 5 companies from each sector to be included in EGX after August rebalancing&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/\">\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\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/&title=Only 5 companies from each sector to be included in EGX after August rebalancing\">\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=Only+5+companies+from+each+sector+to+be+included+in+EGX+after+August+rebalancing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fonly-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing%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\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/230.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563807\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/only-5-companies-from-each-sector-to-be-included-in-egx-after-august-rebalancing\/230-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/230.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"230.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/230.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/230.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563806\" class=\"content-area-description single-story post-563806 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam 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>A maximum of five companies operating in each sector will be included on the EGX30 <\/strong><strong>index<\/strong>, under new regulations set to take effect at the start of August with the index\u2019s latest rebalancing, the exchange said in a <a href=\"https:\/\/ent.news\/2021\/7\/EGX-30-new-regulations.pdf\">statement (pdf)<\/a>. The change aims to make the index more diverse and more representative of the market, the statement reads, with companies selected for inclusion based on their free float and volume of transactions. <strong>Companies must also have a minimum issued capital of EGP 100 mn <\/strong>or its equivalent in foreign currency. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea745e38-4504-4cd3-affa-33ad53b32eb0\">EGX30 is reviewed (or \u201crebalanced\u201d) twice a year<\/a>, at the beginning of February and August.<\/p>\n<p><strong>The changes should improve diversity across the index, making it more attractive to investors, <\/strong>EGX boss Mohamed Farid said in the statement. The new conditions also bring EGX30 inclusion requirements more in line with general listing requirements \u2014 which also impose an EGP 100 mn minimum issued capital \u2014 said Prime Holding CEO Mohamed Maher, who sits on the EGX indexes committee.<\/p>\n<p><strong>How might this affect current constituents? <\/strong>The only two sectors at risk of being scaled down on the index seem to be real estate and non-banking financial services, which count at least six companies each as <a href=\"https:\/\/www.egx.com.eg\/en\/CurrentIndexConstituntes.aspx?type=1&Nav=1\">constituents of the EGX30<\/a>. In the real estate sector, Emaar accounts for the smallest weighting of the index, at 0.67%, while Orascom Financial Holding comes in at 0.28% in the non-banking financial services sector.<\/p>\n<p><strong>The EGX30 had <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0cb2af7-3aa5-460f-b75b-10581cc938f3\">undergone changes<\/a><\/strong><strong> to its inclusion criteria during its last rebalancing in February<\/strong> that were meant to make the EGX more attractive to foreign investors by giving more weight to companies with large market capitalizations. Under the new regulations, companies should have a freefloat market cap (the number of shares in freefloat multiplied by the share price) equal to or above the median average of the 60 most actively-traded companies. Constituents must also have a minimum 15% freefloat, be traded on at least 65% of trading days during the rebalancing period, and cannot have 30% of their shares or more in cross-holdings.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/055aeba0-de62-4a61-a8d1-ade902737b05\">last rebalancing in February<\/a><\/strong> saw payments giant Fawry, investment bank and NBFS player CI Capital, consumer stalwart MM Group, state-owned Abu Qir Fertilizers, and Alexandria Mineral Oils Company (AMOC) enter the EGX 30. Education outfit CIRA, dairy producer Juhayna, Egyptian Iron and Steel, clothing manufacturer Dice, and Beltone Financial Holding all left the benchmark index.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563808\" 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=\"563808\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/\">\r\n                            E-receipt pilot system to launch within 6 months                        <\/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\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/\" 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\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/')\">\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\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/\">\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=E-receipt pilot system to launch within 6 months&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/\">\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\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/&title=E-receipt pilot system to launch within 6 months\">\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=E-receipt+pilot+system+to+launch+within+6+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fe-receipt-pilot-system-to-launch-within-6-months%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\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563808\" class=\"content-area-description single-story post-563808 post type-post status-publish format-standard hentry category-tax tag-enterpriseam tag-tax tag-tax-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>E-receipt pilot up and running within six months: <\/strong>The Finance Ministry will launch the pilot phase of its e-receipt system in the next six months to complement the existing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">e-invoicing program<\/a>, the ministry said in a <a href=\"https:\/\/bit.ly\/3hTSPbL\">statement<\/a>.<\/p>\n<p><strong>Why the move? <\/strong>The new scheme aims to help the Tax Authority monitor and verify all commercial transactions of goods and services between taxpayers and consumers in real time, while cracking down on tax evasion and tackling the informal economy.<\/p>\n<p><strong>In detail:<\/strong> The system, which will be implemented by Microsoft and the state-owned E-Tax, will include 100 taxpayers during the initial pilot phase. Sales data controllers (SDCs) will be installed in all payment processing systems used by retailers and wholesalers to monitor and record all tax relevant transactions.<\/p>\n<p><strong>The ministry <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">began piloting<\/a><\/strong><strong> its e-invoicing system with 134 companies in November <\/strong>before expanding it to almost 350 companies in the second phase in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6836281-ee40-455c-8aea-fcc324b73c54\">February<\/a>. All large taxpayers were required to begin submitting invoices through the new system <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c96030e0-a4d2-4c6b-8619-8fa4ad9192da\">on 1 July<\/a>. The ministry now plans to gradually roll out the e-invoicing system for all <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ffbf62-2086-4872-9cb4-37cb4716bab0\">B2B transactions<\/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\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/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=\"563809\" 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=\"563809\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/\">\r\n                            Non-oil exports jump by 23% in 1H2021                        <\/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\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/\" 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\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/')\">\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\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/\">\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=Non-oil exports jump by 23% in 1H2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/\">\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\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/&title=Non-oil exports jump by 23% in 1H2021\">\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=Non-oil+exports+jump+by+23%25+in+1H2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fnon-oil-exports-jump-by-23-in-1h2021%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\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563810\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/231-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563809\" class=\"content-area-description single-story post-563809 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-africa tag-enterpriseam tag-industry tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Non-oil exports increased by 23% y-o-y in 1H2021, <\/strong>reaching USD 15.4 bn compared to USD 12.5 bn in 1H2020<strong>, <\/strong>Trade and Industry Minister Nevine Gamea said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/181852190651876\">statement<\/a>.<\/p>\n<p><strong>Exports doubled in 2Q2021?<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69b5fd04-ec7b-4ebb-b3c5-8276b5ef7a5d\">Central bank figures<\/a> released last month showed non-oil exports rose to USD 5.3 bn in 1Q2021. Accounting for the new Trade Ministry figures, this means that exports have doubled on a q-o-q basis to USD 10 bn.<\/p>\n<p><strong>Imports also increased during 1H2021:<\/strong> Egypt spent USD 36.6 bn on non-oil imports during the first six months of the year, up 11% from USD 32.9 bn in the same period in 2020, according to the statement. Spending also seems to have risen on a quarterly basis: CBE figures show that USD 16.9 bn was spent on imports during 1Q2021, meaning that USD 19.7 bn was spent in 2Q.<\/p>\n<p><strong>Egypt wants to eventually export goods worth USD 100 bn every year<\/strong>, Gamea said in the statement<strong>. <\/strong>Increasing exports is one of the key targets of the government\u2019s new structural reform program. The recent unveiling of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fce00ffd-bb84-45f5-a94c-45dec89571da\">new export subsidy program<\/a> in addition to a new<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/880fe75b-3a07-477a-93c3-c87eaad7936f\">round of structural reforms<\/a> pledge to ramp up exports in manufacturing, telecoms and IT, and agriculture.<\/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\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563811\" 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=\"563811\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/\">\r\n                            Former investment minister Sahar Nasr joins Allianz Egypt board                        <\/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\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/\" 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\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/')\">\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\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/\">\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=Former investment minister Sahar Nasr joins Allianz Egypt board&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/\">\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\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/&title=Former investment minister Sahar Nasr joins Allianz Egypt board\">\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=Former+investment+minister+Sahar+Nasr+joins+Allianz+Egypt+board+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fformer-investment-minister-sahar-nasr-joins-allianz-egypt-board%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\/07\/25\/former-investment-minister-sahar-nasr-joins-allianz-egypt-board\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563811\" class=\"content-area-description single-story post-563811 post type-post status-publish format-standard hentry category-moves tag-allianz-egypt tag-enterpriseam tag-insurance tag-microfinance tag-moves tag-sahar-nasr wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Allianz Egypt\u2019s board of directors now includes former Investment Minister Sahar Nasr<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/saharnasr?originalSubdomain=eg\">LinkedIn<\/a>), the ins. company said in <a href=\"https:\/\/ent.news\/2021\/7\/Allianz-Sahar-Nasr-Press-Release.pdf\">an emailed statement (pdf)<\/a>. The step is in line with the Financial Regulatory Authority\u2019s push to increase the number of women in leadership positions in Egypt\u2019s business community. Nasr is also the former lead economist in the World Bank\u2019s Finance and Private Sector Development Department of MENA, in addition to being the regional program manager for the Micro, Small and Medium Enterprises (MSME) in the MENA region. She also served as governor of Egypt at the World Bank and the European Bank for Reconstruction and Development (EBRD).<\/p>\n<p><strong>Mona Zulficar (<\/strong><strong><a href=\"http:\/\/www.zulficarpartners.com\/people\/mona-zulficar\/\">bio<\/a><\/strong><strong>) has been appointed as president of the Egyptian Federation for <\/strong><strong>Financing Medium, Small and Micro Projects <\/strong>for a four-year term ending in 2025, according to a <a href=\"https:\/\/bit.ly\/3x2bt5I\">statement<\/a>. Zulficar has led the Egyptian Microfinance Federation since 2015 and chairs the Al Tadamun Microfinance Foundation. Zulficar has been the founder and chairwoman of Zulficar & Partners since 2009, and is also the non-executive chairwoman of EFG Hermes and EFG Foundation for Social Development.<\/p>\n<p><strong>Ismailia National Food Industries<\/strong> (<strong><a href=\"https:\/\/foodico.com\/\">Foodico<\/a><\/strong><strong>) has reshuffled its board<\/strong>, appointing Amr El Shobokshi as chairman, Mohamed Abdel Alim as vice chairman, and Mahmoud Abdel Hamid as managing director, the company said in <a href=\"https:\/\/ent.news\/2021\/7\/265862_1.pdf\">a disclosure (pdf)<\/a> to the EGX.<\/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\/allianz-egypt\/\">Allianz Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/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\/sahar-nasr\/\">Sahar Nasr<\/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=\"563812\" 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=\"563812\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/563812\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563812\" class=\"content-area-description single-story post-563812 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Palm-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=\"563813\" 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=\"563813\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/\">\r\n                            Fuel price hike + GERD dominate the talk shows on 25 July 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\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Fuel price hike + GERD dominate the talk shows on 25 July 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/&title=Fuel price hike + GERD dominate the talk shows on 25 July 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Fuel+price+hike+%2B+GERD+dominate+the+talk+shows+on+25+July+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Ffuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563813\" class=\"content-area-description single-story post-563813 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-cabinet-shuffle tag-enterpriseam tag-ethiopia tag-fuel tag-gerd tag-last-nights-talk-shows tag-sudan tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The government\u2019s decision on Friday to raise fuel prices dominated the airwaves last <\/strong><strong>night:<\/strong> The nation\u2019s talk shows aired several interviews last night to reassure consumers that the higher fuel prices would not have a knock-on effect on public transportation. Local Development Ministry spokesperson Khaled Kassem told Kelma Akhira\u2019s Lamees El Hadidi that fares for public transport and taxi cabs won\u2019t increase given their reliance on diesel fuel, which has remained unchanged. He also claimed that the decision to hold diesel and mazut prices will mean that the hikes will not impact commodity prices (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=1P-f0pCwHSI\">4:52<\/a> I <a href=\"https:\/\/www.youtube.com\/watch?v=RUk2hD2PJE4\">3:23<\/a>).<\/p>\n<p><strong>The decision was also covered by Al Hayah Al Youm<\/strong>, which featured street interviews with microbus owners and passengers who said that the new decision hasn\u2019t raised fares (<a href=\"https:\/\/www.youtube.com\/watch?v=BOYOkH7cWYs\">watch, runtime: 4:13<\/a>). Ala Mas\u2019ouleety had similar street interviews with members of the public, but they were divided on the impact of the decision on the prices of fruits and vegetables, with some highlighting a significant increase in some crops and others attributing the rise to seasonality of Eid Al Adha. We have more on this story in this morning\u2019s news well, above.<\/p>\n<p><strong>The GERD also returned to the talk shows as Ethiopia announced completing the <\/strong><strong>second phase of filling the GERD:<\/strong> El Hekaya\u2019s Amr Adib claimed that Ethiopia failed to meet its target of collecting 14 bn cubic meters of water and only filled 4 bcm (<a href=\"https:\/\/www.youtube.com\/watch?v=qDwAlkwfFFk\">watch, runtime: 1:59<\/a>). Adib also interviewed Sudanese journalist Mohamed Kaboucheh who highlighted the threats of floods the dam is posing for the Sudanese residents along the Blue and White Niles (<a href=\"https:\/\/www.youtube.com\/watch?v=eagUMbZUnGU\">watch, runtime 6:19<\/a>). We have more on Ethiopia\u2019s announcement in the Diplomacy section, above.<\/p>\n<p><strong>Rumors of an impending cabinet reshuffle got attention from Ala Mas\u2019ouleety\u2019s Ahmed <\/strong><strong>Moussa<\/strong>, who referred to the possible appointment of 10 to 12 new ministers including an information minister (<a href=\"https:\/\/www.facebook.com\/119166731535620\/videos\/382293726568466\">watch, runtime 15:11<\/a>). The change will also affect assistant ministers and their deputies as well as deputy governors, with youth likely to have more representation, Moussa said.<\/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\/cabinet-shuffle\/\">cabinet shuffle<\/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\/fuel\/\">fuel<\/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\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563814\" 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           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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-hpwx7g8\" data-v=\"4\" data-block-id=\"hpwx7g8\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-hpwx7g8-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-hpwx7g8-inner-blocks\">\r\n            <div 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class=\"stk-block-content stk-inner-blocks stk-ase0yk5-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-rupk8ft\" data-v=\"4\" data-block-id=\"rupk8ft\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rupk8ft-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rupk8ft-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563815\" 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=\"563815\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/human-rights-regional-politics-dominated-eid-week\/\">\r\n                            Human rights + regional politics dominated Eid week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/human-rights-regional-politics-dominated-eid-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/x.com\/intent\/post?text=Human rights + regional politics dominated Eid week&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/human-rights-regional-politics-dominated-eid-week\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/human-rights-regional-politics-dominated-eid-week\/&title=Human rights + regional politics dominated Eid week\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Human+rights+%2B+regional+politics+dominated+Eid+week+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fhuman-rights-regional-politics-dominated-eid-week%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/human-rights-regional-politics-dominated-eid-week\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563815\" class=\"content-area-description single-story post-563815 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-al-ahly tag-ancient-egypt tag-archaeology tag-biden-administration tag-culture tag-enterpriseam tag-gender tag-history tag-human-rights tag-juhayna tag-pegasus-project tag-safwan-thabet tag-tourism tag-travel wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Human rights and regional politics lead the conversation on Egypt in the foreign press: <\/strong>The government\u2019s decision to release a number of high profile activists who had been held in pretrial detention \u2014 including activist Esraa Abdel Fattah and lawyer Mahienour El Masry \u2014 is getting coverage in <a href=\"https:\/\/www.reuters.com\/world\/egypt-frees-several-prominent-activists-ahead-eid-al-adha-2021-07-18\/\">Reuters<\/a>, the <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-57882069\">BBC<\/a>, the <a href=\"https:\/\/apnews.com\/article\/joe-biden-middle-east-africa-egypt-8af6f700f2de0fea07fa36c28bfc7007\">Associated Press<\/a> and others, while an op-ed in <a href=\"https:\/\/www.foreignaffairs.com\/articles\/middle-east\/2021-07-16\/time-cut-egypt\">Foreign Affairs<\/a> once again calls on US president Joe Biden to cut off support to Egypt unless it improves its rights record. <a href=\"https:\/\/www.hrw.org\/news\/2021\/07\/23\/joint-letter-united-states-should-condemn-egypts-silencing-human-rights-defenders\">Human Rights Watch<\/a> also published a joint letter by 20 local and international human rights groups who are calling on the US to condition military aid on the government improving its approach to human rights.<\/p>\n<p><strong>Egyptian officials named in Pegasus leaks:<\/strong> Data leaked from Israeli spyware firm NSO suggests that Saudi Arabia and the UAE spied on senior government ministers including Prime Minister Mostafa Madbouly, Finance Minister Mohamed Maait and Justice Minister Hossam Abdel Rahim. The so-called Pegasus Project leaks last week revealed that NSO had helped foreign governments hack the mobile phones of heads of state, diplomats and military chiefs, including French president Emmanuel Macron, South African president Cyril Ramaphosa, and World Health Organization director Tedros Adhanom Ghebreyesus. <a href=\"https:\/\/www.theguardian.com\/world\/2021\/jul\/20\/emmanuel-macron-identified-in-leaked-pegasus-project-data\">The Guardian<\/a> and <a href=\"https:\/\/daraj.com\/en\/76398\/\">Daraj<\/a> have more.<\/p>\n<p><strong>A<\/strong><strong>nd Juhayna\u2019s Safwan Thabet is the subject of a feature piece in <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/40d3c573-54df-43fe-b9f7-19be04a3e1f4\">the Financial Times<\/a><\/strong>, which examines the arrest of the dairy company\u2019s founder and chairman last year on terrorism charges.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Divers have discovered a military vessel in the ancient sunken city of Heracleion<\/strong> off the coast of Alexandria. The ship is believed to have sunk in the second century BC when the temple of Amun collapsed during an earthquake. (<a href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-finds-ancient-military-vessel-greek-graves-sunken-city-2021-07-19\/\">Reuters<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20210719-egypt-unveils-military-vessel-greek-funerary-site-in-sunken-city\">France24<\/a>)<\/li>\n<li><strong>Former first lady Jehan El Sadat\u2019s lifelong dedication to women\u2019s rights<\/strong> is getting another nod in the foreign press after her death earlier this month. (<a href=\"https:\/\/www.theguardian.com\/global-development\/2021\/jul\/23\/jehan-sadat-obituary\">The Guardian<\/a>)<\/li>\n<li><strong>Cairo is named as one of the World's Greatest Places for 2021<\/strong> for its \u201cnew vantages on unique treasures,\u201d with some big tourist projects including the Grand Egyptian Museum and the Ahl Misr Walkway nearing completion. (<a href=\"https:\/\/time.com\/collection\/worlds-greatest-places-2021\/6079227\/cairo\/\">Time Magazine<\/a>)<\/li>\n<li><strong>Al Ahly\u2019s victory over South Africa\u2019s Kaiser Chiefs to win the African Champions <\/strong><strong>League for a 10th time<\/strong> made history and headlines. (<a href=\"https:\/\/www.bbc.com\/sport\/africa\/57833344\">BBC<\/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\/al-ahly\/\">Al Ahly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/biden-administration\/\">Biden administration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/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\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pegasus-project\/\">Pegasus Project<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safwan-thabet\/\">Safwan Thabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"563816\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563817\" 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=\"563817\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/\">\r\n                            New Tenth of Ramadan industrial zone + El Sisi meets European maritime CEOs                        <\/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\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/\" 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\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/')\">\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\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/\">\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=New Tenth of Ramadan industrial zone + El Sisi meets European maritime CEOs&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/\">\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\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/&title=New Tenth of Ramadan industrial zone + El Sisi meets European maritime CEOs\">\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=New+Tenth+of+Ramadan+industrial+zone+%2B+El+Sisi+meets+European+maritime+CEOs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fnew-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos%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\/07\/25\/new-tenth-of-ramadan-industrial-zone-el-sisi-meets-european-maritime-ceos\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563817\" class=\"content-area-description single-story post-563817 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-manufacturing tag-maritime tag-tenth-of-ramadan-city wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Work on an 82-feddan EGP 1.1 bn industrial zone in Tenth of Ramadan City <\/strong><strong><a href=\"https:\/\/bit.ly\/3zvppH1\">will<\/a><\/strong><strong><a href=\"https:\/\/bit.ly\/3zvppH1\">soon be launched<\/a><\/strong>, and will be completed within one year. Industrial zones will be rolled out in Aswan and Beni Suef after the Tenth of Ramadan facility is finished.<\/li>\n<li><strong>President Abdel Fattah El Sisi discussed upgrading Egypt\u2019s maritime industry <\/strong>with CEO of the German shipbuilding company L\u00fcrssen, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/362028601952541\">Peter L\u00fcrssen<\/a>, and CEO of the Belgian Jan De Nul Group, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/362033701952031\">Jan Pieter De Nul<\/a>, on Thursday, according to an Ittihadiya.<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tenth-of-ramadan-city\/\">Tenth of Ramadan City<\/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=\"563818\" 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=\"563818\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/\">\r\n                            Covid cases continue to decline in Egypt as delta spreads across the world                        <\/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\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/\" 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\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/')\">\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\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/\">\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=Covid cases continue to decline in Egypt as delta spreads across the world&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/\">\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\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/&title=Covid cases continue to decline in Egypt as delta spreads across the world\">\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=Covid+cases+continue+to+decline+in+Egypt+as+delta+spreads+across+the+world+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fcovid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world%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\/07\/25\/covid-cases-continue-to-decline-in-egypt-as-delta-spreads-across-the-world\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563818\" class=\"content-area-description single-story post-563818 post type-post status-publish format-standard hentry category-covid-watch tag-africa tag-african-union tag-covid-19 tag-enterpriseam tag-moderna tag-pfizer tag-south-africa tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/photo\/?fbid=130275989283624&set=a.113299807647909\">reported<\/a><\/strong><strong> 38 new covid-19 infections yesterday<\/strong>, down from <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/129938242650732\">41<\/a> the day before. Egypt has now disclosed a total of 283,985 confirmed cases of covid-19. The ministry also reported four new deaths, bringing the country\u2019s total death toll to 16,481.<\/p>\n<p><strong>Oxygen can no longer be exported without the permission of the ministers of health and<\/strong> <strong>trade<\/strong>, according to a decision published in the <a href=\"https:\/\/ent.news\/2021\/7\/oxygen-export-ban.pdf\">Official Gazette (pdf)<\/a>. The decision, which likely looks to safeguard local supplies in preparation for a rise in demand in the event of another covid-19 wave, is valid for one year.<\/p>\n<p><strong>People travelling from Egypt to the UK may soon have to pay even more to quarantine:<\/strong> Travellers entering the UK from \u201cred list\u201d countries already have to pay GBP 1,750 to quarantine in a hotel for 10 days, but <a href=\"https:\/\/www.standard.co.uk\/news\/uk\/red-list-travel-quarantine-hotel-prices-500-pounds-rise-covid-b947133.html\">this could rise to GBP 2,250<\/a> according to government proposals designed to deter people from travelling to covid hotspots. The British government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d984c1-3825-437c-b742-2fce3cf21689\">put Egypt on its \u201cred list\u201d in June<\/a> due to the risks of people contracting new covid variants in the country.<\/p>\n<p><strong>Travellers from Egypt to Ireland will no longer have to undergo a 12-day quarantine at a <\/strong><strong>government mandated hotel<\/strong>, after the Irish government removed Egypt from its red list of countries, meaning it no longer considers Egypt a high-risk destination for covid-19, the Egyptian Foreign Ministry said in <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/125458516430670\">a statement<\/a>.<\/p>\n<p><strong>IN GLOBAL COVID NEWS-<\/strong><\/p>\n<p><strong>Global covid news is increasingly being dominated by fears over the spread of the delta <\/strong><strong>variant<\/strong>, which is now causing a resurgence of the virus not only in undervaccinated countries in the developing world, but highly-vaccinated countries, too.<\/p>\n<ul>\n<li><strong>Infections and hospitalizations are on the rise in the US due to delta<\/strong>, and with the<a href=\"https:\/\/www.bbc.com\/news\/57889961\">rate of vaccination slowing<\/a> local officials are starting to reintroduce mask rules (<a href=\"https:\/\/www.cnbc.com\/2021\/07\/21\/covid-local-officials-across-us-are-starting-to-reimpose-mask-rules-as-delta-variant-takes-hold.html\">CNBC<\/a>).<\/li>\n<li><strong>Delta is now the dominant strain in Europe<\/strong>, the WHO <a href=\"https:\/\/www.euro.who.int\/en\/media-centre\/sections\/press-releases\/2021\/sars-cov-2-delta-variant-now-dominant-in-much-of-european-region-efforts-must-be-reinforced-to-prevent-transmission,-warns-who-regional-office-for-europe-and-ecdc\">has said<\/a>, and with cases surging, some governments are starting to get tougher on the unvaccinated, introducing measures such as vaccine passports to nudge people to take the shot. (<a href=\"https:\/\/www.cnbc.com\/2021\/07\/21\/covid-local-officials-across-us-are-starting-to-reimpose-mask-rules-as-delta-variant-takes-hold.html\">WSJ<\/a>)<\/li>\n<li><strong>And developing countries with low vaccination rates are also being hit hard<\/strong>, with the vast majority of new infections in Indonesia, South Africa and Malaysia being caused by delta. (<a href=\"https:\/\/www.ft.com\/content\/fa4f248a-a476-491d-a5ce-f128360e9f24\">FT<\/a>)<\/li>\n<\/ul>\n<p><strong>African countries are set to receive the first batch of single-dose J&J starting next week:<\/strong> The African Union will start delivering next week the first 6 mn-jab shipment of the Johnson & Johnson vaccine, with 45 African countries to get their first shipment by the end of August, the <a href=\"https:\/\/apnews.com\/article\/2020-tokyo-olympics-sports-government-and-politics-business-australia-dc79b3b62b6a6c26903243c4f7ca1c23\">Associated Press<\/a> reports. J&J is expected to supply the AU with 400 mn shots by September 2022, with deliveries to average 10 mn a month from September, before rising to 20 mn in January until the order is fully shipped.<\/p>\n<p><strong>Africa\u2019s vaccination targets are impossible to reach<\/strong> thanks to vaccine nationalism and export controls on producing countries such as India, an AU envoy told the newswire. Africa aims to vaccinate 60% of its population of 1.3 bn by the end of this year, but has only administered <a href=\"https:\/\/www.reuters.com\/world\/africa\/africa-start-receiving-400-mln-jj-covid-19-vaccine-doses-next-week-2021-07-22\/\">60 mn doses<\/a>.<\/p>\n<p><strong>Pfizer and BioNTech will manufacture their Covid-19 vaccine in South Africa starting next<\/strong><strong> year<\/strong>, with an annual vaccine production exceeding 100 mn doses, the companies said in <a href=\"https:\/\/www.pfizer.com\/news\/press-release\/press-release-detail\/pfizer-and-biontech-announce-collaboration-biovac\">a joint statement<\/a>. This comes under a letter of intent signed with the Biovac Institute in Cape Town, under which the pharma companies will transfer technology, install equipment and develop the facility. The shots will be delivered to African countries. <a href=\"https:\/\/www.reuters.com\/world\/africa\/safricas-biovac-start-making-pfizer-biontech-vaccine-h2-2022-ceo-2021-07-21\/\">Reuters<\/a> and <a href=\"https:\/\/edition.cnn.com\/2021\/07\/21\/africa\/covid-vaccine-manufacture-pfizer-africa-intl\/index.html\">CNN<\/a> took note of the story.<\/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\/african-union\/\">African Union<\/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\/moderna\/\">Moderna<\/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\/south-africa\/\">South Africa<\/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=\"563819\" 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=\"563819\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/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\/07\/25\/opec-finally-reaches-an-agreement-to-raise-oil-supply\/\">\r\n                            OPEC+ finally reaches an agreement to raise oil supply                        <\/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\/07\/25\/opec-finally-reaches-an-agreement-to-raise-oil-supply\/\" 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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From August until the end of next year, OPEC+ will add 400k barrels per day each month, extending the supply cuts to December 2022 instead of April. This will mean that an extra 6.8 mn bbl\/d will be added to the market by December 2022. The outcome of the long-delayed meeting guarantees more production in the coming months after tight supply led to a hike in prices. The UAE\u2019s production baseline, which was the main point of disagreement, will rise to 3.5 mn barrels per day from about 3.2 mn barrels per day. Saudi Energy Minister Prince Abdulaziz bin Salman said that the pact demonstrates the strength of the OPEC+ alliance.<\/p><p><strong>The agreement hasn\u2019t done much to depress prices:<\/strong> Brent fell almost 7% the day after the agreement was reported to below USD 68\/bbl for the first time since late May. Since then, the price has rebounded back above the pre-agreement level to USD 74.10.<\/p><p><strong>In other financial news worth knowing about:<\/strong><\/p><ul>\n<li><strong>US regulators step up crypto crackdown<\/strong>: Crypto lending platform BlockFi has received cease and desist notices from regulators in three US states that allege the firm has sold unregistered securities to its customers. (<a href=\"https:\/\/www.ft.com\/content\/3d6c19d4-4848-4c0e-8112-5cff52dd1cbd\">FT<\/a>).<\/li>\n<li><strong>Economic uncertainty in China: <\/strong>Despite steady growth in the second quarter, China\u2019s National Bureau of Statistics has warned that the economic recovery rebound is \u201cunbalanced\u201d as \u201cthe coronavirus continues to mutate globally and external instabilities and uncertainties abound.\u201d In response, Beijing is expected to loosen its fiscal policy to spur business confidence and raise consumer spending. (<a href=\"https:\/\/www.ft.com\/content\/484f019c-8179-49d9-b23a-2885b8aeaf47\">FT<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,647<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -1.8%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,794<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +24.2%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,065<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +40.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,744<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,411<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +17.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,027<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 74.10<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.06<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,805.90<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 34,263<\/p>\n<\/td>\n<td>\n<p>+2.5% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.8% at last Sunday\u2019s close<\/strong> on turnover of EGP 1.5 bn (19.2% above the 90-day average). Local investors were net buyers. The index is down 1.8% YTD.<\/p><p><strong>In the green: <\/strong>AMOC (+6.2%), Pioneers Holding (+2.8%) and Ibnsina Pharma (+2.8%).<\/p><p><strong>In the red: <\/strong>Export Development Bank (-3.4%), Fawry (-1.9%) and GB Auto (-1.7%).<\/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\/blockfi\/\">BlockFi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563820\" 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=\"563820\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">17<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/\">\r\n                            Growing crisis in Ethiopia as conflict spreads                        <\/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\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/\" 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\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/')\">\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\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/\">\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=Growing crisis in Ethiopia as conflict spreads&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/\">\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\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/&title=Growing crisis in Ethiopia as conflict spreads\">\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=Growing+crisis+in+Ethiopia+as+conflict+spreads+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F25%2Fgrowing-crisis-in-ethiopia-as-conflict-spreads%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\/07\/25\/growing-crisis-in-ethiopia-as-conflict-spreads\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563820\" class=\"content-area-description single-story post-563820 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseam tag-ethiopia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Growing crisis in Ethiopia as conflict spreads:<\/strong> Some 54k Ethiopians in the country\u2019s Afar region have been forced to flee their homes as the conflict between the government and Tigray rebels spreads to other areas of the country. Fighting Afar \u2014 a strategically important region that links Addis Ababa to Djibouti\u2019s sea port \u2014 began last weekend after Tigray rebels seized three districts. The story got digital ink in the global press: <a href=\"https:\/\/www.ft.com\/content\/bc0edfcf-9816-4451-a6c4-2ac7b8891646\">Financial Times<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/africa\/fighting-ethiopias-afar-forces-54000-people-flee-official-says-2021-07-22\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-21\/widening-ethiopia-conflict-displaces-tens-of-thousands-of-people?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p>\n<p><strong>Former Lebanese Prime Minister Saad El Hariri <\/strong><strong><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanons-pm-designate-hariri-says-he-has-given-up-cabinet-formation-2021-07-15\/\">abandoned<\/a><\/strong> <strong>his attempt to form a <\/strong><strong>government<\/strong>, with parliamentary consultations to form a new one <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanon-says-consultations-new-government-will-start-next-week-2021-07-19\/\">expected to start Monday<\/a> as the country reels from a severe economic crisis.<\/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\/around-the-world\/\">Around the World<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563821\" 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\/07\/25\/your-essential-business-calendar-on-25-july-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563821\" class=\"content-area-description single-story post-563821 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>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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/p>\n<p>28 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>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>9 August (Monday): Russian flights to Sharm El Sheikh, Hurghada resume.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/p>\n<p>3-5 September (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:\/\/bit.ly\/3dp0wnB\">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>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/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>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> 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>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>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/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":563791,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-563790","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6829da50-175e-41a1-98d9-402236f85f98","teaser":"","photo_url":"https:\/\/ent.news\/2021\/7\/221.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>Gov\u2019t hikes fuel prices for second consecutive quarter - 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\/govt-hikes-fuel-prices-for-second-consecutive-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t hikes fuel prices for second consecutive quarter\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-hikes-fuel-prices-for-second-consecutive-quarter\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:15:44+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/221.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-hikes-fuel-prices-for-second-consecutive-quarter\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-hikes-fuel-prices-for-second-consecutive-quarter\/\",\"name\":\"Gov\u2019t hikes fuel prices for second consecutive quarter - 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