{"id":563899,"date":"2021-07-28T04:00:08","date_gmt":"2021-07-28T04:00:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=563899"},"modified":"2025-12-16T04:18:26","modified_gmt":"2025-12-16T04:18:26","slug":"egyptian-economy-to-grow-4-5-5-in-2q2021-rencap","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egyptian-economy-to-grow-4-5-5-in-2q2021-rencap\/","title":{"rendered":"Egyptian economy to grow 4.5-5% in 2Q2021 -RenCap"},"content":{"rendered":"<section id=\"563901\" 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=\"563901\">\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\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/\">\r\n                            THIS MORNING: House summer recess begins; 3-year travel ban for Saudi citizens traveling to Egypt; Russian delegation assesses covid-19 situation in Red Sea; US tech firms smash 2Q earnings estimates.                        <\/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\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/\" 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\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/')\">\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\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/\">\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: House summer recess begins; 3-year travel ban for Saudi citizens traveling to Egypt; Russian delegation assesses covid-19 situation in Red Sea; US tech firms smash 2Q earnings estimates.&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/\">\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\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/&title=THIS MORNING: House summer recess begins; 3-year travel ban for Saudi citizens traveling to Egypt; Russian delegation assesses covid-19 situation in Red Sea; US tech firms smash 2Q earnings estimates.\">\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+House+summer+recess+begins%3B+3-year+travel+ban+for+Saudi+citizens+traveling+to+Egypt%3B+Russian+delegation+assesses+covid-19+situation+in+Red+Sea%3B+US+tech+firms+smash+2Q+earnings+estimates.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fthis-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates%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\/28\/this-morning-house-summer-recess-begins-3-year-travel-ban-for-saudi-citizens-traveling-to-egypt-russian-delegation-assesses-covid-19-situation-in-red-sea-us-tech-firms-smash-2q-earnings-estimates\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563901\" class=\"content-area-description single-story post-563901 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-alphabet tag-apple tag-aviation tag-covid-19 tag-earnings tag-enterpriseam tag-google tag-house-of-representatives tag-hurghada tag-microsoft tag-russia tag-saudi-arabia tag-sharm-el-sheikh tag-tourism tag-travel 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><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>MPs are packing their bags for Sahel:<\/strong> The House broke for summer recess yesterday, ending the first legislative session of the new parliament that started on 12 January, <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2021\/7\/27\/2062812\/%D8%B1%D8%B3%D9%85%D9%8A%D8%A7-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D9%81%D8%B6-%D8%AF%D9%88%D8%B1-%D8%A7%D9%84%D8%A7%D9%86%D8%B9%D9%82%D8%A7%D8%AF-%D8%A7%D9%84%D8%A3%D9%88%D9%84-#keyword\">Masrawy<\/a> reports<strong>.<\/strong> The Senate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bed0414b-07de-4a46-910e-bf00da9ffee8\">went on recess<\/a> on 19 July.<\/p><p><strong>What does this mean for the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1e886f2-2030-4161-a1d4-1b64ed47ae48\">rumored cabinet shuffle<\/a><\/strong><strong>? <\/strong>The parliament could be called by the president for an emergency session to approve the shuffle, MP Ayman Abou Alaa told <a href=\"https:\/\/bit.ly\/2WgoH1V\">Masrawy<\/a>. Sources have told multiple outlets in recent days that a major government shake-up could take place this week or the next, with some claiming that we could be seeing as many as 11 new faces on the cabinet.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/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 entrepreneurs<\/strong> in the MENA renewable energy scene at 3 pm.<\/p><p><strong>A Russian delegation arrived in Egypt yesterday for a four-day visit to assess the covid <\/strong><strong>situation in Hurghada and Sharm El Sheikh<\/strong> before direct flights between Russia and the Red Sea resort towns resume next month, <a href=\"https:\/\/bit.ly\/3eXQx9B\">Youm7<\/a> reports. The team will inspect preventative measures in place at the two airports and some hotels in the cities. Flights are expected to resume on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93a8a41f-61de-4ec4-8ec1-5b1d4089639f\">9 August<\/a> following a six-year hiatus due to the 2015 Metrojet crash.<\/p><p><strong>*** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of <strong>EnterprisePM:<\/strong><\/p><ul>\n<li><strong>SODIC closes EGP 343 mn securitized bond sale: <\/strong>The bonds <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b48e82ec-9602-4999-8ff3-517e4c520c2d\">were issued<\/a> in two tranches with tenors of 13 and three years and ratings of AA+ and A.<\/li>\n<li><strong>GoodsMart gets funding: <\/strong>Online grocery shopping service GoodsMart has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ac36325-cbf9-4787-b871-545ea8d5c013\">secured<\/a> USD 3.6 mn in funding in a round led by Sawari Ventures.<\/li>\n<li><strong>Barrick Gold signs four gold exploration contracts: <\/strong>The Canadian miner has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fcd83442-d546-435e-8a46-af2336d4a430\">inked<\/a> four gold exploration contracts worth a combined USD 8.8 mn for 19 blocks in the Eastern Desert.<\/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>GLOBAL EARNINGS WATCH- Apple, Alphabet and Microsoft continued where <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdb7721d-9418-4c05-9d3b-66c21d460640\">Tesla<\/a><\/strong><strong> left off <\/strong><strong>yesterday, smashing 2Q earnings expectations.<\/strong><\/p><ul>\n<li><strong>Apple\u2019s net income almost doubled to USD 21.7 bn<\/strong> during the quarter, compared to an expected USD 16.6 bn. Revenues rose to a record USD 81.4 bn.<\/li>\n<li><strong>But that didn\u2019t stop its share price from sliding:<\/strong> Apple shares fell almost 3% in late trading after the company warned that supply chain disruptions will affect iPhone and iPad sales in the current quarter.<\/li>\n<li><strong>Google parent Alphabet reported USD 18.5 bn net income<\/strong>, compared to USD 3.1 bn that analysts were expecting. Revenues came in at USD 61.9 bn vs the estimated USD 56.2 bn.<\/li>\n<li><strong>Microsoft<\/strong> made net income of USD 46.2 bn during the quarter, up from the expected USD 14.5 bn.<\/li>\n<\/ul><p><strong>The story was everywhere in the business press last night:<\/strong> <a href=\"https:\/\/www.ft.com\/content\/18cfeb9a-8596-4d23-badd-df9a62d510ab\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/livecoverage\/earnings-apple-google-microsoft?mod=hp_lead_pos1\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-27\/apple-sales-top-estimates-on-demand-for-5g-iphones-services?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/china\/apple-beats-sales-expectations-iphone-services-china-strength-2021-07-27\/\">Reuters<\/a> | <a href=\"https:\/\/www.cnbc.com\/2021\/07\/27\/apple-aapl-earnings-q3-2021.html\">CNBC<\/a>.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Startups have until this Thursday, 29 July, to apply for round two of the Green Works <\/strong><strong>Growth Acceleration Program<\/strong>, which aims to support green enterprises in Egypt. The 10-month program is supported by Hivos and implemented by Nahdet El Mahrousa and will see 10 startups receive financial and non-financial support. Chosen startups will be eligible for up to EGP 250k in funding. You can read more about eligibility requirements and the program <a href=\"https:\/\/drive.google.com\/file\/d\/1UyOedOqk6M1VoiKxajnPkydUi1Efrl8R\/view\">here (pdf)<\/a> and register using <a href=\"https:\/\/www.emailmeform.com\/builder\/form\/ce4F3nZOVXUo3by5wc9htiRcD\">this form<\/a>.<\/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><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We sit down with Samaila Zubairu, president and CEO of the Africa Finance Corporation, to discuss Egypt\u2019s membership in the lender, its investment plans, the country\u2019s infrastructure gaps and how Africa can harness the global move towards renewable energy.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alphabet\/\">Alphabet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microsoft\/\">microsoft<\/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\/saudi-arabia\/\">Saudi Arabia<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/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=\"563902\" 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=\"563902\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/563902\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563902\" class=\"content-area-description single-story post-563902 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Somabay_EnduranceFestival_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>We can't wait to see the endurance sports community back at Somabay, taking on the Supersprint, Sprint, Olympic, Youth, & Kids Races. Early-Bird Registration for the Somabay Endurance Festival is now open.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563903\" 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=\"563903\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/\">\r\n                            Economy to grow 4.5-5% in 2Q2021 -RenCap                        <\/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\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/\" 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\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/')\">\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\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/\">\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=Economy to grow 4.5-5% in 2Q2021 -RenCap&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/\">\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\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/&title=Economy to grow 4.5-5% in 2Q2021 -RenCap\">\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=Economy+to+grow+4.5-5%25+in+2Q2021+-RenCap+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Feconomy-to-grow-4-5-5-in-2q2021-rencap%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\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/276.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563904\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/economy-to-grow-4-5-5-in-2q2021-rencap\/276-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/276.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"276.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/276.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/276.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563903\" class=\"content-area-description single-story post-563903 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-carry-trade tag-economy tag-enterpriseam tag-gdp tag-inflation tag-interest-rates tag-renaissance-capital 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-01\"><\/a> <strong>The Egyptian economy will grow by 4.5-5% in 2Q2021<\/strong> and will continue to gather momentum through the rest of the year, Renaissance Capital economists said during a press briefing yesterday. The investment bank is also maintaining its forecast for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bb18bfa-39fe-4f57-ae02-2d7688b688be\">4.2% growth in 2021<\/a>, which it believes will accelerate to 5% next year.<\/p>\n<p><strong>What\u2019s driving growth?<\/strong> Anticipated growth will come off the back of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f489ef1b-59fa-4096-a0e8-6fe8638608b6\">recovering tourism<\/a>, an uptick in portfolio inflows, economic recovery driving imports, continued easing of pandemic restrictions and the vaccination program.<\/p>\n<p><strong>The base effect is also at play:<\/strong> The strong quarterly figures are also partly due to the low base effect that saw the economy contract by 1.7% in 2Q2020, said RenCap\u2019s head of research in Africa Yvonne Mhango.<\/p>\n<p><strong>Recovering tourism is a driving factor:<\/strong> Tourism will once again start making a positive contribution to growth in 2Q2021, Mhango said. May 2021 saw 1.5 mn passengers pass through Egypt\u2019s airports \u2014 a more than 20% y-o-y increase from May 2020. But tourist numbers in May 2021 are still a third below what was seen pre-pandemic, which suggests the sector is still in recovery, Mhango added.<\/p>\n<p><strong>All of this impacts our current account deficit \u2014 which should widen in 2021, then remain flat in 2022:<\/strong> RenCap is expecting a current account deficit of around 4% of GDP for 2021, up from 2020\u2019s 3.1%, said Mhango. Declining <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21c72a06-0a86-4493-a54d-4a630faf8acd\">tourism revenues<\/a> have been a driving factor in the current account deficit. But the anticipated recovery, and an uptick in imports, means the deficit will likely remain flat at 4% in 2022, she added. \u201cIn spite of the current account deterioration, growth is returning to the economy, so we\u2019re quite encouraged by that.\u201d<\/p>\n<p><strong>Recovering portfolio inflows are also helping to drive growth:<\/strong> 2021\u2019s uptick in portfolio inflows has also been a positive sign, said Mhango. While 2Q 2020 saw a negative balance \u2014 more outflows than inflows \u2014 \u201cwe\u2019ve seen a significant recovery since then.\u201d Egypt\u2019s high real rates meant that inflows recovered rapidly in the months following the covid-induced EM sell-off, rising from a nadir of USD 10.4 bn in May 2020 to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31d82a35-c9b5-4ce5-afa9-37d48c7bfacb\">USD 26 bn in January<\/a>. The pace of inflows has since slowed, with foreign holdings rising to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a3825e9-4c6f-4581-afe5-cfa3ab7ba4ec\">USD 29 bn as of May<\/a>.<\/p>\n<p><strong>The carry trade will continue to draw interest:<\/strong> Egypt\u2019s high interest rates will continue to be a significant draw for portfolio investment, RenCap believes. \u201cTwo-thirds of portfolio inflows in 1Q2021 were to the debt market, and that will be sustained, I think,\u201d said Mhango.<\/p>\n<p><strong>Which means changes to interest rates are unlikely:<\/strong> RenCap expects the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60724e27-ccfe-4819-817b-1bf008c6ac37\">policy lending rate<\/a> to remain at 9.25% through the end of 2022, said Mhango. \u201cWe don\u2019t expect to see cuts, which would undermine the interest rates drawing the capital inflows that are financing the current account.\u201d<\/p>\n<p><strong>We also remain on track for single-digit inflation, with \u201ccontained\u201d non-food inflation offsetting rising food prices:<\/strong> Global increases in food prices do bring the risk of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/73c9e0fe-670a-43e3-9668-c8c426c31287\">short-term inflation<\/a>, which was a little concerning earlier in the year, as Egypt imports much of its food, said Mhango. Food inflation for June 2021 stood at just over 3% y-o-y, and will likely continue ticking up. But non-food inflation has been much softer, helping keep headline inflation relatively contained at 4.9%, she added. \u201cWe\u2019re expecting mid-single digit inflation \u2014 another reason we expect interest rates to remain relatively flat.\u201d<\/p>\n<p><strong>What macro risks should we watch out for? <\/strong>A slowdown in the global recovery would undermine current growth momentum, impact global trade, and have a knock on effect on the Suez Canal operations, said Mhango. Hiking US interest rates would slow emerging market inflows and undermine the carry trade. While this isn\u2019t expected, \u201cit\u2019s certainly a risk and something to watch out for moving forward,\u201d said Mhango. And the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/effb07f4-20de-4abb-9be8-cb5c385292e5\">relatively slow pace<\/a> of Egypt\u2019s vaccination program \u2014 only 3.6-4% of the population has received the first dose of the vaccine compared to some 27% in Morocco \u2014 could mean restrictions need to be tightened again during forthcoming covid-19 waves, undermining the recovery, she added. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26a0a84b-8a53-4667-b2b8-d0056e8f5cee\">High oil prices<\/a> could also add pressures to the current account deficit and inflation, with Egypt being a net importer.<\/p>\n<p><strong>RenCap is optimistic about equity market performance in 2H2021 \u2014 especially towards 4Q2021: <\/strong>The dynamics dominating the market for over a year \u2014 with non-Egyptian institutions being net sellers and local institutions the only clear buyers \u2014 appear to be shifting, said RenCap\u2019s head of MENA research Ahmed Hafez, indicating that the foreign institutional sell-off seems to be coming to an end. RenCap has clocked a drop in activity by foreign investors, which usually indicates market reversal, he added. All this is driving optimism about market performance in 2H2021.<\/p>\n<p><strong>Retail investors are coming back to conventional names \u2014 another indication of a market shift, <\/strong>says Hafez. The last month has seen an uptick in EGX activity from some of the more conventional blue chip names in the market, along with rising interest in real estate, fertilizers, steel, refining, cement and big cap names, he added.<\/p>\n<p><strong>RenCap is looking at \u201ca good, solid pipeline\u201d of IPOs and other activity moving into 1H2022,<\/strong> said Amr Helal, North Africa CEO. \u201cWe\u2019re a joint global coordinator on an e-finance IPO \u2014 part of the government IPO program \u2014 which will hopefully come through this year.\u201d RenCap has two or three more IPOs it expects to take to market between the end of 2021 and beginning of 2022 in sectors including healthcare, industrials, commercial real estate, he added.<\/p>\n<p><strong>EGP valuation remains attractive: <\/strong>The gap between Egypt and other emerging markets is still triple its historical average, said Hafez. The MSCI EM Index has traded at 2.1 times higher 12-month forward earnings multiple compared to the MSCI Egypt over the past 10 years, according to Bloomberg, and this gap has notably widened since the pandemic outbreak. Over the past month Egypt has outperformed in USD terms, which has helped to narrow the gap, although it\u2019s still at a 6x difference, he said. \u201cWe believe that this level of valuation is very attractive.\u201d<\/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\/carry-trade\/\">carry trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renaissance-capital\/\">Renaissance Capital<\/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=\"563905\" 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=\"563905\">\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\/28\/tycoon-to-officially-kick-off-bid-for-anfi\/\">\r\n                            Tycoon to officially kick off bid 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\/28\/tycoon-to-officially-kick-off-bid-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\/28\/tycoon-to-officially-kick-off-bid-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\/28\/tycoon-to-officially-kick-off-bid-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 to officially kick off bid for ANFI&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/tycoon-to-officially-kick-off-bid-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\/28\/tycoon-to-officially-kick-off-bid-for-anfi\/&title=Tycoon to officially kick off bid 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+to+officially+kick+off+bid+for+ANFI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Ftycoon-to-officially-kick-off-bid-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\/28\/tycoon-to-officially-kick-off-bid-for-anfi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/278.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563906\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/tycoon-to-officially-kick-off-bid-for-anfi\/278-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/278.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"278.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/278.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/278.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563905\" class=\"content-area-description single-story post-563905 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-abu-dhabi-islamic-bank tag-alexandria-national-company-for-financial-investments tag-enterpriseam tag-ma-watch tag-tycoon-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Tycoon Holding gets FRA nod to launch MTO for ANFI<\/strong>: Shareholders of Alexandria National Company for Financial Investment (ANFI) will soon be able to sell their shares to Tycoon Holding after the Financial Regulatory Authority yesterday <a href=\"https:\/\/ent.news\/2021\/7\/ANFI-Tycoon-MTO.pdf\">approved (pdf)<\/a> its mandatory tender offer to acquire 90% of the listed company.<\/p>\n<p><strong>What\u2019s the offer?<\/strong> Tycoon wants to buy a 90% stake (or (4.7 mn shares) of ANFI for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358176c5-ac0f-4633-ad4b-7ae05178a44a\">EGP 6.25 per share<\/a>, valuing the company at EGP 32.7 mn.<\/p>\n<p><strong>We\u2019re not sure when exactly subscription will kick off:<\/strong> The FRA said the subscription period would start within two days of the MTO being approved, meaning it will start either in today\u2019s trading session or tomorrow. The MTO will end within 10 working days.<\/p>\n<p><strong>The highest offer so far:<\/strong> Tycoon recently raised its bid from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4871b8d6-2744-4108-af2b-d3ef0dc80a02\">EGP 5.60 per share<\/a> to EGP 6.25, beating Compass Capital\u2019s EGP 6.12 offer, and Zeta investments\u2019 EGP 6 bid that was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2aaa16cb-aba6-4c31-bfbf-9bad078529eb\">rejected by shareholders<\/a> earlier this month.<\/p>\n<p><strong>Tycoon first entered the bidding race for ANFI last June<\/strong>, joining other bidders including <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<\/p>\n<p><strong>Who\u2019s the seller, again?<\/strong> ADIB wants to exit ANFI, which it considers a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d462009-f7d7-4e88-be73-f1d0a42620ea\">non-core business<\/a>. The Gulf lender owns almost 85% of ANFI, holding 9% directly and the remainder through its KWIN and ADI Lease subsidiaries.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/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\/ma-watch\/\">M&amp;A Watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563907\" 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=\"563907\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/\">\r\n                            Gov\u2019t to start handing out covid travel certificates soon                        <\/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\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/\" 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\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/')\">\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\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/\">\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=Gov\u2019t to start handing out covid travel certificates soon&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/\">\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\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/&title=Gov\u2019t to start handing out covid travel certificates soon\">\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=Gov%E2%80%99t+to+start+handing+out+covid+travel+certificates+soon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fgovt-to-start-handing-out-covid-travel-certificates-soon%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\/28\/govt-to-start-handing-out-covid-travel-certificates-soon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563907\" class=\"content-area-description single-story post-563907 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-japan tag-sports tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>That vaccination certificate you get when you receive your shot: You can\u2019t use it to <\/strong><strong>travel.<\/strong> The current vaccination certificates being handed out to people are not internationally-accredited documents that can be used for travel purposes and are only meant to document the receipt of the vaccines, Mohamed Abdel Fattah, head of the Central Department of Preventive Medicine at the Health Ministry told El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=3Bk7TFrP5no\">watch, runtime 12:44<\/a>).<\/p>\n<p><strong>So how do we travel?<\/strong> The Health Ministry will open centers for those who want to get vaccinated for travel purposes in the coming days, he said. Those wishing to travel have to show their passport, visa or airline ticket at the center to get the vaccine required by the country they're going to, and obtain a documented vaccination certificate.<\/p>\n<p><strong>Yes, but:<\/strong> Travelling to Europe or the US requires you to have been vaccinated with either the Pfizer, Moderna, AstraZeneca or Johnson & Johnson vaccines \u2014 all of which either don\u2019t exist in Egypt or are in very short supply. We\u2019re supposed to be receiving some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5b6b112-2359-4d77-8e56-ef78298a3eba\">25 mn doses of J&J<\/a> through the African Union, but we\u2019re unlikely to get all of these <a href=\"https:\/\/apnews.com\/article\/2020-tokyo-olympics-sports-government-and-politics-business-australia-dc79b3b62b6a6c26903243c4f7ca1c23\">for another year<\/a>. The AU <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b07db20-0068-4d4e-a3dc-5fdbb56bd3e6\">will start distributing 6 mn doses<\/a> to countries next week, and 45 countries are expected to have received shipments by the end of August.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/131398299171393\">reported<\/a><\/strong><strong> 31 new covid-19 infections yesterday<\/strong>, down from 35 the day before. Egypt has now disclosed a total of 284,090 confirmed cases of covid-19. The ministry also reported four new deaths, bringing the country\u2019s total death toll to 16,498.<\/p>\n<p><strong>Tokyo reports new record of covid-19 cases<\/strong>: The Japanese capital reported a record 2,848 new cases of covid-19 on Tuesday, days after the beginning of the long-delayed Olympic Games, <a href=\"https:\/\/apnews.com\/article\/sports-health-tokyo-coronavirus-pandemic-6ddfc869a57ec6823ffc2162b4c7a263\">the Associated Press<\/a> reports. Prime Minister Yoshihide Suga said he still isn\u2019t considering the suspension of the Olympics but urged people to abstain from unnecessary outings. The games have gone ahead despite calls for their postponement and widespread public criticism that Olympics officials are jeopardizing public health. The event organizers recently announced a total of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c77480ca-b932-462e-9cb7-8a630c127317\">153 cases of covid-19<\/a> including three athletes.<\/p>\n<p><strong>The fight against Malaria could be getting a boost thanks to covid<\/strong> after BioNtech announced that it would invest a portion of the proceeds gained from its mRNA covid-19 vaccine into making malaria and tuberculosis vaccines based on the same technology in Africa, <a href=\"https:\/\/www.wsj.com\/articles\/covid-19-vaccine-pioneer-biontech-plans-to-make-new-malaria-and-tuberculosis-shots-in-africa-11627308000\">the Wall Street Journal<\/a> reports. The mRNA shots would be developed at a facility based in Africa and could once again put the company in competition with Oxford University, who earlier this year conducted early stage clinical trials of a malaria shot in Burkina Faso.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/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\/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=\"563908\" 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=\"563908\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/\">\r\n                            EBRD on board to finance Sixth of October dry port                        <\/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\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/\" 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\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/')\">\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\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/\">\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=EBRD on board to finance Sixth of October dry port&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/\">\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\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/&title=EBRD on board to finance Sixth of October dry port\">\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=EBRD+on+board+to+finance+Sixth+of+October+dry+port+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Febrd-on-board-to-finance-sixth-of-october-dry-port%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\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/279.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563909\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/ebrd-on-board-to-finance-sixth-of-october-dry-port\/279-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/279.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"279.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/279.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/279.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563908\" class=\"content-area-description single-story post-563908 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-ebrd tag-enterpriseam tag-esg tag-infrastructure tag-new-urban-communities-authority tag-public-private-partnership 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>EBRD to finance half of the Sixth of October Dry Port: <\/strong>The European Bank for Reconstruction and Development (EBRD) is providing the October Dry Port Company (ODP) with a USD 29.6 mn loan to part finance the development of the Sixth of October Dry Port (DP6), which will cost a total of USD 60 mn, according to <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/51830.html\">the bank\u2019s website<\/a>. The greenfield project will be the first Private Public Partnership (PPP) in the dry port sector, and will be constructed on the outskirts of the city.<\/p>\n<p><strong>The project will be implemented under build-operate-transfer (BOT) structure<\/strong>, whereby a public entity grants a concession to a private company to build and operate a project for a number of years. ODP is a JV firm established as a special purpose vehicle in Egypt to implement the DP6 project. The company is 70% owned by El Sewedy Electric, while 20% is held by SLP for Logistic Properties and 10% by Schenker Egypt.<\/p>\n<p><strong>The DP6 project marks the start of the Green City Action Plan with the New Urban Communities Authority for West Cairo<\/strong>. The project will also be the first investment in Sixth of October City under the <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/50674.html\">EBRD Green Cities Framework 2 Window 2<\/a>, and will initiate the development of a Green City Action Plan for Sixth of October. The cooperation aims to identify priority environmental and climate change challenges facing the city and provide green investments and policy interventions to mitigate the impacts.<\/p>\n<p><strong>How is the project good for the environment? <\/strong>DP6 will be Egypt\u2019s first inland dry port that acts as an extended gateway for the deep-sea ports located in the north and east of Egypt. The port is being built with ESGs in mind, and aims to transfer container traffic away from roads and railways to reduce road congestion, accidents and emissions. The project is expected to save over 14 mn liters of diesel and 40k tons of CO2 emissions per year. DP6 also aims to provide efficient customs inspections and clearance procedures, reduce congestion at seaports, create economies of scale, and improve the overall reliability and cost-efficiency of the logistics process.<\/p>\n<p><strong>The bank did not indicate a timeline for the implementation or completion of the project. <\/strong><\/p>\n<p><strong>Egypt has recently been embracing the PPP model for infrastructure projects<\/strong>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65e8b72c-aa5c-4929-89aa-baa9e4a8319f\">greenlighting this month<\/a> nine dry ports and logistics centers projects to be implemented under the framework including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5fb23aa-0496-4f4b-a296-41de09a6a0ca\">Tenth of Ramadan dry dock and logistics hub<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/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=\"563910\" 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=\"563910\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\">\r\n                            La Mancha fund aims to raise USD 300-400 mn investments                        <\/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\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\" 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\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/')\">\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\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\">\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=La Mancha fund aims to raise USD 300-400 mn investments&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\">\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\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/&title=La Mancha fund aims to raise USD 300-400 mn investments\">\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=La+Mancha+fund+aims+to+raise+USD+300-400+mn+investments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fla-mancha-fund-aims-to-raise-usd-300-400-mn-investments%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\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563911\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/280-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"280.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563910\" class=\"content-area-description single-story post-563910 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-gold tag-investment-watch tag-la-mancha tag-mining tag-naguib-sawiris 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>La Mancha\u2019s fund targets USD 300-400 mn contributions<\/strong>: Sawiris-run La Mancha is open accepting new investors in its new USD 1.4 bn mining fund, aiming to attract investments worth USD 300-400 mn, Chairman Naguib Sawiris told Al Arabiya in a phone interview yesterday (<a href=\"https:\/\/bit.ly\/3f39GXN\">watch, runtime 7:19<\/a>). The company announced this week that it is transforming itself into a fund, reaching a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b65943c0-3188-4aee-8b65-4ed39716e7fc\">USD 1.4 bn first close<\/a> with its current gold mining assets and a USD 100 mn contribution from an unnamed strategic investor.<\/p>\n<p><strong>Why the new fund?<\/strong> Sawiris has plans for new acquisitions in the gold mining industry, which represent a big share of the net worth of the Sawiris family. La Mancha already has 20-30% stakes in four listed companies, namely Endeavour Mining, Golden Star, Altus Strategies and Evolution Mining.<\/p>\n<p><strong>The strategy<\/strong>: La Mancha aims to both buy and restructure small and medium-sized businesses then merge them with larger entities in a bid to raise their production capacity and cut administrative costs, Sawiris said. These include listed companies valued at USD 200-300 mn which own one or two small mines and are in financial distress. The fund may also look for stakes in smaller mining outfits with \u201cstrong managerial and geological potential to implement a 3-to-5-year value creation strategy.\u201d<\/p>\n<p><strong>The fund will be mainly focused on Egypt, <\/strong>thanks to the new <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/11\/mineral-resources-act-amendments-set-for-parliamentary-approval-before-summer-recess\/\">amendments<\/a> to the Mineral Resources Act, Sawiris noted. He wants to acquire more gold exploration licenses, after his Altus Strategies subsidiary Akh Gold won <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9749041e-f303-49d6-a7ef-4167d3c68224\">four licenses<\/a> for nine blocks in the Eastern Desert earlier this year.<\/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\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/la-mancha\/\">La Mancha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/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=\"563912\" 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=\"563912\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/water-resources-act-gets-final-nod-from-house\/\">\r\n                            Water Resources Act gets final nod from House                        <\/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\/28\/water-resources-act-gets-final-nod-from-house\/\" 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\/28\/water-resources-act-gets-final-nod-from-house\/')\">\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\/28\/water-resources-act-gets-final-nod-from-house\/\">\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=Water Resources Act gets final nod from House&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/water-resources-act-gets-final-nod-from-house\/\">\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\/28\/water-resources-act-gets-final-nod-from-house\/&title=Water Resources Act gets final nod from House\">\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=Water+Resources+Act+gets+final+nod+from+House+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fwater-resources-act-gets-final-nod-from-house%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\/28\/water-resources-act-gets-final-nod-from-house\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563912\" class=\"content-area-description single-story post-563912 post type-post status-publish format-standard hentry category-legislation-watch tag-agriculture tag-enterpriseam tag-irrigation tag-legislation-watch tag-water tag-water-resources-act 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>The long-awaited <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91feb202-b605-493a-8d72-ab4ab70aeb10\">Water Resources Act<\/a><\/strong><strong> got its final approval by the House<\/strong> in the final session of the parliamentary cycle, the cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/187904626713299\">a statement<\/a> yesterday. The new law aims to regulate how the country utilizes its water resources, especially in the light of threats from climate change and the Grand Ethiopian Renaissance Dam, while reducing the use of some of the nation\u2019s canals for agriculture and reducing water wastage. The law has been in the works since at least 2017, when it received cabinet approval, but it was delayed several times until the draft got a nod from the House Agriculture Committee in 2019.<\/p>\n<p><strong>About the law:<\/strong> The law would make farmers pay fees worth <a href=\"https:\/\/bit.ly\/3BPDbX2\">EGP 1,250<\/a> for a renewable five-year license to set up pumping stations on the Nile and irrigation canals, as well as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/307bebcd-a423-4957-9b6c-d13514a498e4\">EGP 5k<\/a> to obtain a five-year license for drilling underground wells. But smallholders who have 10 feddans or less and farmers who use non-mechanical small pumping equipment will be exempted from having to purchase a license.<\/p>\n<p><strong>What\u2019s next?<\/strong> The law will be sent to President Abdel Fattah El Sisi for a ratification, with the bill\u2019s executive regulations to be reviewed by the cabinet before being issued.<\/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\/agriculture\/\">agriculture<\/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\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water-resources-act\/\">Water Resources Act<\/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=\"563913\" 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=\"563913\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/\">\r\n                            Bosta plans to land in Saudi Arabia by early next year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Bosta plans to land in Saudi Arabia by early next year&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/&title=Bosta plans to land in Saudi Arabia by early next year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Bosta+plans+to+land+in+Saudi+Arabia+by+early+next+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fbosta-plans-to-land-in-saudi-arabia-by-early-next-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/281.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"563914\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/bosta-plans-to-land-in-saudi-arabia-by-early-next-year\/281-jpg-49\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/281.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"281.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/281.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/281.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563913\" class=\"content-area-description single-story post-563913 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-bosta tag-e-commerce tag-enterpriseam tag-logistics tag-saudi-arabia tag-startup-watch tag-uae 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>Egyptian courier startup Bosta plans to enter the Saudi market by early 2022, <\/strong>as part of the company\u2019s plans to expand its presence in the Gulf region, co-founder and COO Omar Yaghmour told <a href=\"https:\/\/bit.ly\/3i8yeAU\">Al Mal<\/a>. The company is also eyeing the UAE and Kuwait Yaghmour said. Bosta seems to have slightly delayed its plans, having <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0266cdfe-bfd7-459b-9d56-4fe7926070b8\">previously<\/a> said it would expand to the UAE and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f1ed149-d4e7-4701-9c3a-b1413e1d1791\">Saudi Arabia expansion<\/a> in 2021, and to as many as seven countries in the coming five years.<\/p>\n<p><strong>Why Saudi Arabia? <\/strong>Saudi Arabia and the UAE account for almost half of the e-commerce industry in the Middle East and are both promising growth markets, Yaghmour said. The company also plans to expand further in Africa and is currently considering an entry into Kenya, Morocco, and South Africa.<\/p>\n<p><strong>The company is also coming off a bumper series A funding round<\/strong> that saw it raise <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f1ed149-d4e7-4701-9c3a-b1413e1d1791\">USD 6.7 mn in May<\/a> from several international and regional VC outfits.<\/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\/bosta\/\">Bosta<\/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\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563915\" 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=\"563915\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/\">\r\n                            Mwasalat Misr lands long-term contracts for new cities                        <\/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\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/\" 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\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/')\">\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\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/\">\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=Mwasalat Misr lands long-term contracts for new cities&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/\">\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\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/&title=Mwasalat Misr lands long-term contracts for new cities\">\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=Mwasalat+Misr+lands+long-term+contracts+for+new+cities+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fmwasalat-misr-lands-long-term-contracts-for-new-cities%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\/28\/mwasalat-misr-lands-long-term-contracts-for-new-cities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563915\" class=\"content-area-description single-story post-563915 post type-post status-publish format-standard hentry category-infrastructure tag-enterpriseam tag-infrastructure tag-mwasalat-misr tag-new-urban-communities-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mass transport operator <\/strong><strong><a href=\"https:\/\/www.mwasalatmisr.com\/\">Mwasalat Misr<\/a><\/strong><strong> will take charge of bus fleets in new cities <\/strong>under a 15-year contract with the New Urban Communities Authority, deputy general manager Mohsen Sabra said, according to <a href=\"https:\/\/bit.ly\/3kVGlT4\">Al Mal<\/a>. The company, a provider of higher-end mass transport, will operate and maintain some 110 buses in six cities including Shorouk City, Badr, Al Obour, Sheikh Zayed, Tenth of Ramadan, and Sixth of October. It is expected to invest some EGP 1.5 bn in running the new routes and financing a fleet expansion. We tried reaching out to Mwasalat Misr to confirm the story and get further details, but a representative from the company wasn\u2019t available as of dispatch time.<\/p>\n<p><strong>Mwasalt, which is majority-owned by Emirates National Group, previously operated fewer<\/strong> <strong>lines <\/strong>between cities including Sixth of October and Sheikh Zayed under short-term agreements.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mwasalat-misr\/\">Mwasalat Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563916\" 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=\"563916\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/563916\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563916\" class=\"content-area-description single-story post-563916 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\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=\"563917\" 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=\"563917\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/\">\r\n                            Parliamentary recess + Tunisia dominate the talk shows                        <\/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\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/\" 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\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/')\">\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\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/\">\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=Parliamentary recess + Tunisia dominate the talk shows&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/\">\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\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/&title=Parliamentary recess + Tunisia dominate the talk shows\">\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=Parliamentary+recess+%2B+Tunisia+dominate+the+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Fparliamentary-recess-tunisia-dominate-the-talk-shows%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\/28\/parliamentary-recess-tunisia-dominate-the-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563917\" class=\"content-area-description single-story post-563917 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-gerd tag-health-ministry tag-house-of-representatives tag-last-nights-talk-shows tag-legislation tag-travel tag-tunisia tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The parliamentary recess was the main highlight of last night\u2019s talk shows: <\/strong>Kelma Akhira\u2019s Lamees El Hadidi had full coverage of the story, noting that the parliament will resume its sessions before the first Thursday of October (<a href=\"https:\/\/www.youtube.com\/watch?v=BPe5mh2KDsk\">watch, runtime 1:02<\/a>). Ahmed Moussa also had coverage of the final House session before the summer break (<a href=\"https:\/\/www.facebook.com\/watch\/?v=374879257314913\">watch, runtime 4:36<\/a>).<\/p>\n<p><strong>Tunisia\u2019s political crisis is still getting attention from the talking heads:<\/strong> Yahduth Fi Masr\u2019s Sherif Amer covered Tunisian president Kais Saied\u2019s meetings with civil society groups, and spoke to Tunisian MP Amira Sharaf El Deen, who refused to call the president\u2019s actions a coup but said it came as a response to protestors\u2019 anger over the handling of recent spike in covid-19 cases (<a href=\"https:\/\/www.youtube.com\/watch?v=QfBt9_gRddU\">watch, runtime 5:50<\/a>). She noted that freezing the parliament for one month might not be enough unless the country brings in the right people to power. Politician Mostafa El Feki told Amer that the Ikhwan have proved a political failure in Tunisia, though he noted that the current crisis doesn\u2019t mean an end to their involvement in Tunisian politics (watch, runtime <a href=\"https:\/\/www.youtube.com\/watch?v=u9SzeFhelX4\">5:52<\/a> I <a href=\"https:\/\/www.youtube.com\/watch?v=nLKZiCLDlso\">3:04<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/legislation\/\">legislation<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tunisia\/\">Tunisia<\/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=\"563918\" 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 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stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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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-9nr3q08\" data-v=\"4\" data-block-id=\"9nr3q08\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9nr3q08-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9nr3q08-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 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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=\"563919\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/tunisia-leading-coverage-in-the-foreign-press\/\">\r\n                            Tunisia leading coverage in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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<div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/tunisia-leading-coverage-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563919\" class=\"content-area-description single-story post-563919 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-gamal-abdel-nasser tag-history tag-la-mancha tag-mining tag-politics tag-suez-canal tag-tunisia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The political turmoil in Tunisia is leading coverage on Egypt in the foreign press this <\/strong><strong>morning:<\/strong> <a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/07\/27\/tunisia-gulf-information-campaign\/\">The Washington Post\u2019s<\/a> Claire Parker notes the gleeful reaction of Egypt, Saudi Arabia and the UAE to the dissolution of the Islamist-dominated parliament in Tunis, and claims that the three countries have been engaged in social media operations to fuel the recent protests in the country. Meanwhile, <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-07-27\/will-tunisia-remain-the-last-best-hope-of-arab-spring-democracy?srnd=politics-vp&sref=mmeFTDW1\">Bloomberg\u2019s<\/a> Bobby Ghosh compares the events to the overthrow of the Morsi government in 2013.<\/p>\n<p><strong>Elsewhere, it\u2019s a mixed bag:<\/strong><\/p>\n<ul>\n<li><strong>Warraq building collapse kills 1:<\/strong> The <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-cairo-building-collapses-c7d2ddf63b4be811c69078c09a4ab6a3\">Associated Press<\/a> reports that a building collapse in Warraq yesterday left at least one man dead,<\/li>\n<li><strong>The Suez Canal, ours for 65 years:<\/strong> <a href=\"https:\/\/www.theguardian.com\/world\/2021\/jul\/27\/egypt-nationalises-suez-canal-nasser-1956\">The Guardian<\/a> digs into its archives to commemorate former president Gamal Abdel Nasser\u2019s nationalization of the Suez Canal.<\/li>\n<li><strong>La Mancha in the pink paper: <\/strong>The <a href=\"https:\/\/www.ft.com\/content\/5cc8e9a5-3c2a-40a0-b795-e526dbb31104\">Financial Times<\/a> is also running a piece on Sawiris-backed La Mancha\u2019s new USD 1.4 bn mining fund, which we covered <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b65943c0-3188-4aee-8b65-4ed39716e7fc\">earlier this week<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gamal-abdel-nasser\/\">Gamal Abdel Nasser<\/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\/la-mancha\/\">La Mancha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/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\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tunisia\/\">Tunisia<\/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=\"563920\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"563921\" 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=\"563921\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/also-on-our-radar-on-28-july-2021\/\">\r\n                            Also on our Radar on 28 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\/28\/also-on-our-radar-on-28-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\/28\/also-on-our-radar-on-28-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\/28\/also-on-our-radar-on-28-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=Also on our Radar on 28 July 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/also-on-our-radar-on-28-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\/28\/also-on-our-radar-on-28-july-2021\/&title=Also on our Radar on 28 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=Also+on+our+Radar+on+28+July+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F28%2Falso-on-our-radar-on-28-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\/28\/also-on-our-radar-on-28-july-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563921\" class=\"content-area-description single-story post-563921 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-hospitality tag-ma-watch tag-mountain-view tag-real-estate tag-remco-group tag-tiktok tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Tobacco and molasses manufacturing facilities have until the end of this <\/strong><strong>year <\/strong><strong>to legalize <\/strong><strong>their status <\/strong>under a <a href=\"https:\/\/ent.news\/2021\/7\/Trade-Ministry-Decree.pdf\">decision (pdf)<\/a> by the Trade Ministry to set a deadline for companies to complete licensing procedures. The decision comes in response to several complaints by molasses manufacturers after the Industrial Development Authority stopped renewing expired licenses, which led to the closure of over 37 plants, Federation of Egyptian Industries\u2019 tobacco division Ibrahim Imbaby told the <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2386000\">local press<\/a>.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>IHG Hotels<\/strong> will launch <strong>four new Hotel Indigo branches<\/strong> in Sahel, New Cairo, Sixth of October, and Ain Sokhna between 2024 and 2028 after reaching <a href=\"https:\/\/www.ihgplc.com\/en\/news-and-media\/news-releases\/2021\/ihg-debuts-hotel-indigo-with-a-four-hotel-agreement-in-egypt\">an agreement<\/a> with property developer <strong>Mountain View<\/strong>.<\/li>\n<li>The board of tourism developer <strong>Remco<\/strong> has <a href=\"https:\/\/ent.news\/2021\/7\/Remco.pdf\">approved (pdf)<\/a> a <a href=\"https:\/\/ent.news\/2021\/7\/FV-study.pdf\">study (<\/a><a href=\"https:\/\/ent.news\/2021\/7\/FV-study.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/7\/FV-study.pdf\">)<\/a> that sets the fair value of subsidiary <strong>Empain Tourism Investments <\/strong>at EGP 76 per share or a total of EGP 347.68 mn, ahead of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c06421e-7c3e-41fe-9f7f-eb6fce2ba842\">a potential sale<\/a> to unnamed local investors.<\/li>\n<li>A <strong>female TikTok influencer<\/strong> and her friend have been handed a four-day <strong>detention <\/strong><a href=\"https:\/\/bit.ly\/3BOoqUf\">order<\/a> on charges of indecency and inciting debauchery.<\/li>\n<\/ul>\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\/hospitality\/\">hospitality<\/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\/mountain-view\/\">Mountain View<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/remco-group\/\">Remco Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tiktok\/\">Tiktok<\/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=\"563922\" 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=\"563922\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/global-recovery-uncertain-as-vaccine-divide-widens-imf\/\">\r\n                            Global recovery uncertain as vaccine divide widens -IMF                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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 <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563922\" class=\"content-area-description single-story post-563922 post type-post status-publish format-standard hentry category-planet-finance tag-covid-19 tag-enterpriseam tag-financial-markets tag-gdp tag-imf tag-planet-finance tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-11\"><\/a> <strong>IMF warns of \u201clopsided\u201d global recovery over vaccine inequity:<\/strong> Unequal access to covid-19 vaccines are widening the recovery gap between advanced and developing economies especially amid the resurgence of new cases and the delta spread, theIMF warned in in its <a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2021\/07\/27\/world-economic-outlook-update-july-2021\">World Economic Outlook update<\/a> yesterday. This comes as the fund revised upwards its projections for developed countries by 0.5% to 5.6% this year but lowered its growth forecasts for developing countries by 0.4% to 6.3%.<\/p><p><strong>The problem in a nutshell:<\/strong> \"Close to 40% of the population in advanced economies has been fully vaccinated, compared with 11% in emerging market economies, and a tiny fraction in low-income developing countries,\" IMF chief economist Gita Gopinath said at a presser.<\/p><p><strong>Developing economies are likely to suffer from a double knockdown effect<\/strong>: Emerging markets are expected to get a double hit \u201cfrom worsening pandemic dynamics and tighter external financial conditions,\u201d which will put its toll on their recovery and weigh on global growth.<\/p><p><strong>The global picture:<\/strong> The Fund has left its global growth forecast unchanged at 6%, but has raised its 2022 projection to 4.9% from 4.1% in April.<\/p><p><strong>How to address the vaccine gap? <\/strong>The IMF is urging advanced countries to share their surplus of vaccine doses of at least 1 bn with poorer nations this year. Gopinath also <a href=\"https:\/\/blogs.imf.org\/2021\/07\/27\/drawing-further-apart-widening-gaps-in-the-global-recovery\/\">reiterated<\/a> calls for countries to sign up to its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5898eefd-37d5-4b16-b431-c491cbe0f6bc\">USD 50 bn plan<\/a> that it thinks can fully vaccinate at least 40% of the world\u2019s population in a matter of months.<\/p><p><strong>The story got plenty of digital ink in the global press<\/strong>: <a href=\"https:\/\/www.reuters.com\/business\/imf-lifts-growth-forecasts-rich-nations-dims-outlook-developing-world-2021-07-27\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/joe-biden-business-health-coronavirus-pandemic-7604c261155eef095e94bb644aae99c4\">AP<\/a> | <a href=\"https:\/\/www.ft.com\/content\/28f8c13d-2dc3-4106-a48e-4c628f392a09\">FT<\/a> | <a href=\"https:\/\/www.cnbc.com\/2021\/07\/27\/imf-warns-that-inflation-could-prove-to-be-persistent.html\">CNBC<\/a> | <a href=\"https:\/\/www.nytimes.com\/2021\/07\/27\/business\/economy\/IMF-World-Economic-Outlook.html\">New York Times<\/a>.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,763<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,916<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +25.6%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,170<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +42.1%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,761<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +10.8%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,401<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +17.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,996<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 74.48<\/p>\n<\/td>\n<td>\n<p>-%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.95<\/p>\n<\/td>\n<td>\n<p>-0.5%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,803.40<\/p>\n<\/td>\n<td>\n<p>-%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 39,121<\/p>\n<\/td>\n<td>\n<p>+4.5% (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 0.6% at today\u2019s close<\/strong> on turnover of EGP 2.06 bn (41% above the 90-day average). Local investors were net sellers. The index is down 0.8% YTD.<\/p><p><strong>In the green: <\/strong>MM Group (+4.0%), Telecom Egypt (+3.1%) and Fawry (+3.0%).<\/p><p><strong>In the red: <\/strong>Orascom Development Egypt (-1.6%), Emaar Misr (-1.3%) and AMOC (-0.6%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"563923\" 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=\"563923\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/amid-coup-accusations-tunisian-president-pledges-to-respect-democracy\/\">\r\n                            Amid coup accusations, Tunisian president pledges to respect democracy                        <\/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\/28\/amid-coup-accusations-tunisian-president-pledges-to-respect-democracy\/\" 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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Saied is trying to gain legitimacy for assuming executive power, an act which appears to enjoy considerable public support for ousting the unpopular Ennahda government but which the Islamist movement has dubbed a coup.<\/p>\n<p><strong>Israel, Palestine accused of war crimes during May fighting<\/strong>: Human Rights Watch <a href=\"https:\/\/www.hrw.org\/news\/2021\/07\/27\/gaza-apparent-war-crimes-during-may-fighting\">has accused<\/a> Israel and Palestinian militants of committing war crimes during the 11-day Gaza war in May.<\/p>\n<p><strong>IN DIPLOMACY: <\/strong><strong>DRC, South Sudan officials in town for talks with Madbouly:<\/strong><\/p>\n<ul>\n<li><strong>Prime Minister Mostafa Madbouly discussed strategic partnership and economic <\/strong><strong>development with South Sudanese vice president James Wani Igga<\/strong> during the first session of the Egyptian-South Sudanese higher committee talks yesterday, according to <a href=\"https:\/\/www.sis.gov.eg\/Story\/158416?lang=en-us\">a statement<\/a>.<\/li>\n<li>The Grand Ethiopian Renaissance Dam, water security, and bilateral cooperation over infrastructure, energy and technology were <strong>discussed by Madbouly and Democratic Republic of the Congo PM Sama Lukonde Kyenge<\/strong> during <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/188055830031512\">talks<\/a> yesterday. The DRC is the current chair of the African Union, which is leading the GERD negotiations between Egypt, Ethiopia and Sudan.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/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\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mostafa-madbouly\/\">Mostafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-sudan\/\">South Sudan<\/a>\n                <!-- <span 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/enterprise-talks-to-samaila-zubairu-president-and-ceo-of-the-africa-finance-corporation\/284-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/284.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"284.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/284.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/284.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-563924\" class=\"content-area-description post-563924 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-africa tag-africa-finance-corporation-afc tag-enterprise-hardhat tag-enterpriseam tag-green-hydrogen tag-infrastructure tag-logistics tag-renewables tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>Enterprise talks to: Samaila Zubairu, president and CEO of the Africa Finance <\/strong><strong>Corporation:<\/strong> Established in 2007, the <a href=\"https:\/\/www.africafc.org\/\">Africa Finance Corporation<\/a> (AFC) is a pan-African financial institution that focuses on upgrading the continent\u2019s infrastructure. The lender has channeled more than USD 10 bn into projects in 35 countries since its founding, and while it hasn\u2019t been that active in Egypt, this could change in the years ahead. The AFC could be ready to allocate more than USD 1 bn to Egyptian infrastructures in the coming years.<\/p>\n<p><strong>AFC President and CEO Samaila Zubairu is in town this week to discuss its investment<\/strong> <strong>plans with Egyptian officials.<\/strong> During <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/187990956704666\">talks<\/a> yesterday, Planning Minister Hala El Said floated the idea of the AFC collaborating with state-owned vaccine maker Vacsera to distribute its covid-19 vaccines, and discussed proposals to work with the Sovereign Fund of Egypt in a number of areas including renewables, desalination, housing, and railcar manufacturing.<\/p>\n<p><strong>We sat down with Zubairu this week <\/strong>to talk about Egypt\u2019s membership in the AFC, how much investment the corporation is looking to deploy in which sectors, the country\u2019s infrastructure gaps and how Africa can harness the global move towards renewable energy.<\/p>\n<p><strong>Edited excerpts from our conversation-<\/strong><\/p>\n<p><strong>The Cabinet has already approved Egypt\u2019s membership in the AFC, so now it just needs to be ratified by the parliament.<\/strong> The talks we are having now are informal, but once the membership is ratified, there will be a formalized framework for engagement. This will include devoting more time to agree on a country strategy for Egypt and increasing the investment ticket sizes. Previous AFC investments in Egypt, such as in the Egyptian General Petroleum Corporation (EGPC) and Carbon Holdings, were below USD 100 mn, but once the membership is ratified, these ticket sizes can be much larger. The faster that happens, the faster capital can be unlocked.<\/p>\n<p><strong>Renewables, storage, logistics and transport are high up on this visit\u2019s agenda. <\/strong>We met with the petroleum, planning and electricity ministers so far, and the Central Bank of Egypt (CBE). We have put forth some proposals to the government on how we can support their aspirations to improve the country\u2019s infrastructure, specifically in the transport and logistics space. We are engaged with several ministries on how AFC can really be a partner for Egypt in consolidating on the gains of its economic performance last year, which grew faster than most countries, including China.<\/p>\n<p><strong>We are also talking to private sector players looking to expand their renewable energy and storage business streams in Egypt and Africa. <\/strong>Potential upcoming meetings include stakeholders in the renewable energy, construction, logistics and green hydrogen sectors.<\/p>\n<p><strong>The AFC can potentially <\/strong><strong>support Egypt with investments<\/strong><strong> worth over USD 1 bn, <\/strong>based on our typical risk metrics, the size of Egypt\u2019s economy and the priority sectors identified by the government. Each country gets assigned a certain investment limit based on those factors, which is constantly updated. The risk metric includes ease of doing business, track record of contract enforcement, rule of law and so on. When Egypt\u2019s membership is ratified, we can clearly do much more than that.<\/p>\n<p><strong>Potential investments worth over USD 600 mn have already been identified. <\/strong>We\u2019ve identified projects worth USD 400-500 mn so far in the private renewables, transport, logistics and natural gas sectors. On the government\u2019s side, we are looking at USD 250 mn to support transport and logistics projects.<\/p>\n<p><strong>Mobilized investments after that can go up to 6x that amount:<\/strong> Once the AFC enters a project, it typically is joined by other investors who provide additional funding. Usually, a project\u2019s financing depends on 20-30% of equity and 70-80% of debt. The fact that we can play across both spectrums with our partners, allows us to mobilize upto six times more capital.<\/p>\n<p><strong>AFC derisking makes the investments possible: <\/strong>The AFC derisks the project by reducing or defining the construction and completion risks. One way of doing that is putting the regulatory framework in place to ensure that the project\u2019s concessions or tariffs are robust and can stand the test of time, as well as changes in government. This makes it easier for private partners to participate.<\/p>\n<p><strong>Egypt has more advanced infrastructure than other countries on the continent but there are still gaps. <\/strong>The country has plans to build new cities to decongest Cairo, and the government has a plan to accelerate industrialization by establishing projects such as economic zones. All of these plans can sustain the growth of the economy, but also require infrastructure, which we are ready to support. It\u2019s a sector of continuous investment \u2014 the more infrastructure you develop, the more you need.<\/p>\n<p><strong>Involving private sector participants ensures more impact and is key to supporting the economy.<\/strong> The delivery cost and time is handled in a more disciplined approach, when the private sector is involved, which creates more jobs and accelerates delivery. The government itself has also expressed a need for more involvement from the private sector \u2014 for instance, the CBE wants us to work with Egyptian banks on their digital infrastructure. So bringing together the private sector, government and financial institutions is key to supporting the Egyptian economy.<\/p>\n<p><strong>Africa is well-positioned to support the global move towards renewables. <\/strong>The continent has a lot of commodities that are required for the global energy transition. For instance, an electric car requires six times more minerals and metals than a normal car. A wind turbine requires 11 times more minerals and metals than a gas turbine. All of those minerals and metals can be found in Africa.<\/p>\n<p><strong>We are most excited about projects that increase the value-added of African commodities and minerals, and create jobs. <\/strong>We want to change the current focus of just exporting raw materials without any added value. What is consumed in Africa should be produced in Africa, so we don\u2019t continuously export and re-import. Currently, Africa pays for the export freight of raw materials and for their way back after the value addition, which is unfair. Moreover, exporting raw materials also exports the jobs that are created for value addition.<\/p>\n<p><strong>When the AFC was established, Africa needed to spend about USD 20 bn on infrastructure for the next 10 years \u2014 this has since grown to USD 170 bn<\/strong> with the largest area of need being water and sanitation for which about USD 67 bn are required. Energy needs USD 50 bn, transportation and logistics USD 47 bn, and ICT USD 12 bn.<\/p>\n<p><strong>We constantly look for ways to make business in Africa less painful.<\/strong> We want to reduce the risk perception of the continent, which is slightly misplaced. Evidence shows that Africa is less risky in terms of default rate than the Middle East and Eastern Europe, for instance, and sometimes at the same risk level as Western Europe.<\/p>\n<p><strong>Why hasn\u2019t the Africa trade agreement gotten off the ground?<\/strong> Africa-wide trade agreements are challenged by infrastructure deficits, travel restrictions, customs regulations and the lack of unified currencies or integrated payment systems. These gaps provide opportunities. For instance, the rise of digital currencies could aid in the development of a unified currency system. If it\u2019s not a currency, then a unified payment system, like in Asia, could help.<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Private sector invests in Egypt\u2019s railway network: <\/strong>Nine, mostly private sector companies, will manage and operate Egypt\u2019s rail system <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1021af6f-e77a-4670-9ade-11eebebd1b56\">under<\/a> a cooperation protocol signed with the National Railways Authority.<\/li>\n<li><strong>Dabaa nuclear plant launch postponed by two years:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c39a7286-59a8-4e21-be3c-ead1b2dd3b75\">delay<\/a> comes as a result of disruptions caused by the covid-19 pandemic.<\/li>\n<li><strong>Bee\u2019ah wants new waste management contracts:<\/strong> The Emirati waste management company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26693111-2a9c-4b54-9dd4-8b8cbbd94be8\">wants<\/a> to provide a waste management system for new cities.<\/li>\n<li><strong>Saudi\u2019s Aldrees Petroleum wants to expand in Egypt: <\/strong>The petroleum and transport service company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/800d2af8-1f4e-4721-b65a-c9c2857195fa\">aims<\/a> to build 60 fuel stations in the country before the end of 2021.<\/li>\n<li><strong>Highway in the middle of Maadi: <\/strong>The Transport Ministry <a href=\"https:\/\/bit.ly\/3rATFgO\">plans<\/a> to build a new highway through the middle of the historic neighborhood, and residents aren\u2019t happy about it.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa-finance-corporation-afc\/\">Africa Finance Corporation (AFC)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"563926\" 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\/28\/your-essential-business-calendar-on-28-july-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-563926\" class=\"content-area-description single-story post-563926 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>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/p>\n<p>27-28 July (Tuesday- Wednesday): The Federal Reserve meets to review interest rates.<\/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>21-22 September (Tuesday-Wednesday): The Federal Reserve meets 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>October: New legislative session begins.<sup><\/sup><\/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>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/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>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>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/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>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":563900,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-563899","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4423bc83-5de0-413d-9bac-795ff863c8b9","teaser":"","photo_url":"https:\/\/ent.news\/2021\/7\/275.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>Egyptian economy to grow 4.5-5% in 2Q2021 -RenCap - 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\/egyptian-economy-to-grow-4-5-5-in-2q2021-rencap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian economy to grow 4.5-5% in 2Q2021 -RenCap\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egyptian-economy-to-grow-4-5-5-in-2q2021-rencap\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:18:26+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\/275.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\/egyptian-economy-to-grow-4-5-5-in-2q2021-rencap\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egyptian-economy-to-grow-4-5-5-in-2q2021-rencap\/\",\"name\":\"Egyptian economy to grow 4.5-5% in 2Q2021 -RenCap - 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