{"id":566938,"date":"2020-01-08T04:20:46","date_gmt":"2020-01-08T04:20:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=566938"},"modified":"2025-12-16T05:38:25","modified_gmt":"2025-12-16T05:38:25","slug":"its-been-a-crazy-start-to-the-new-decade","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/its-been-a-crazy-start-to-the-new-decade\/","title":{"rendered":"It\u2019s been a crazy start to the new decade\u2026"},"content":{"rendered":"<section id=\"566940\" 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=\"566940\">\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\/2020\/01\/08\/what-were-tracking-on-8-january-2020\/\">\r\n                            What we\u2019re tracking on 8 January 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/what-were-tracking-on-8-january-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Happy New Year and Merry Christmas, everyone. <\/strong>We hope you enjoyed the past week as much as we did as we took our annual publication break from 1-7 January. We\u2019re delighted to be back \u2014 and we\u2019ve got a full issue for you today, so let\u2019s get straight to it: There\u2019s plenty of business news here at home to keep us all busy, but <strong>sentiment in the community is being shaped by the brewing conflict between the US and Iran.<\/strong><\/p><p><strong>The US-Iran show took a sharp turn overnight as Iran launched missiles at US military <\/strong><strong>bases in our region. <\/strong>Iran fired more than a dozen missiles at two US bases in the early hours of Wednesday. The attack sent S&amp;P futures down as much as 1.5% and the Japanese market nosedived 2.2% as investors fled to safe-haven assets. <strong>The story dominates front pages of all major global media outlets today <\/strong>as journalists openly fret about the idea of a wider regional war: <a href=\"https:\/\/www.ft.com\/content\/d7253b3c-31aa-11ea-a329-0bcf87a328f2\">Financial Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/stampede-at-funeral-procession-for-iranian-commander-kills-35-11578390888\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/01\/07\/world\/middleeast\/trump-iran.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">New York Times<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/us-iraq-security\/iran-attacks-u-s-forces-in-iraq-in-retaliation-for-killing-of-commander-idUSKBN1Z60NL\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-01-07\/iran-retaliates-against-u-s-with-rocket-attack-on-base-in-iraq?srnd=premium-middle-east\">Bloomberg<\/a>.<\/p><p><strong>The Donald has tweeted that he will make a statement today<\/strong>, while Iran\u2019s foreign minister said (also on Twitter) that Iran has \u201cconcluded\u201d its response and does not \u201cseek escalation or war,\u201d according to the Times.<\/p><p><strong>Adding to the tension: A Boeing 737 with 180 people on board has reportedly crashed <\/strong>in Iran shortly after take off, <a href=\"https:\/\/www.cnbc.com\/2020\/01\/08\/boeing-737-passenger-plane-crashes-in-iran-state-news-agencies-report.html?__source=facebook%7Cmain&amp;fbclid=IwAR0lBillvuKjbtRTAltZhrREdhDOvClUQk4QKnzHcROwlf6gYfPiXRhGWMY\">CNBC reports<\/a>. Iran\u2019s state news agency says the Ukrainian Arlines flight crashed due to \u201ctechnical difficulties.\u201d There were no details at dispatch time this morning about casualties.<\/p><p><strong>Egypt, meanwhile, is grappling with Turkey\u2019s decision <\/strong><strong>to <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2020\/01\/05\/world\/europe\/erdogan-turkish-troops-libya.html\">send forces into Libya<\/a><\/strong>, among them non-Turkish fighters from Syria. Journalists in our Twitter feeds suggest many of them are combat veterans offered higher pay and a chance at citizenship for enlisting.<\/p><p><strong>Foreign Minister Sameh Shoukry is meeting with Egypt\u2019s European allies <\/strong>to discuss the unfolding situation in Libya, sitting down at the table with his French, Italian, Greek and Cypriot counterparts, <a href=\"http:\/\/bit.ly\/2QYnxSz\">according to a Foreign Ministry statement<\/a>. We have more in this morning\u2019s Speed Round, below.<\/p><p><strong>Whatever happens on the foreign policy front in the coming weeks, we\u2019re going to feel a <\/strong><strong>bit of a squeeze: <\/strong>Yields on Egyptian USD-denominated Eurobonds rose by as much as 649 bps amid tensions Egyptian-Turkish tension, <a href=\"https:\/\/alborsaanews.com\/2020\/01\/07\/1282984\">according to the local press.<\/a> The Eurobonds due in 2047 was hit hardest, with yields rising 8.28%. ING Markets has warned in a research note to clients that any escalation in regional tensions may sap investor appetite for Mideast and EM debt (and, naturally enough, equities).<\/p><p><strong>UK tabloids can\u2019t resist a chance to sound the alarm about Egypt:<\/strong> The UK\u2019s Foreign Office changed its travel advice for 14 countries in the region, including Egypt, the UAE, Lebanon, Israel, Oman, Bahrain, Qatar and Saudi Arabia, telling visitors to remain vigilant, but stopping short of advising them against travel there. Tabloids, including Britain\u2019s <a href=\"https:\/\/www.thesun.co.uk\/travel\/10681606\/egypt-travel-advice-iran-airstrike\/\">the Sun<\/a> and <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-7854821\/British-tourists-Egypt-soft-targets-terrorists-loyal-Iran-says-Foreign-Office.html\">the Daily Mail<\/a>, naturally couldn\u2019t resist posing the perennial \u201cis Egypt safe to visit?\u201d question, speculating that British tourists could be \u201csoft\u201d targets for terror groups sympathetic to Iran.<\/p><p class=\"web-image stand-out-borderless\"><a href=\"http:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Marina-Web.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>So, what\u2019s setting the news agenda for the first days of 2020 here at home?<\/strong><\/p><p><strong>The House will review the Banking Act in two weeks\u2019 time<\/strong>, <a href=\"https:\/\/alborsaanews.com\/2020\/01\/07\/1283048\">sources told the local press<\/a>. The Central Bank and Banking Act will go first to committee before it comes up for discussion by the House sitting in plenary session. The Madbouly cabinet had approved the 242-article final draft of the act <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/egypts-cabinet-approves-new-banking-and-central-bank-act\/\">in October<\/a>.<\/p><p><strong>MPs will likely vote on the Data Protection Act in plenary session this coming Sunday<\/strong>, House ICT Committee member <a href=\"https:\/\/alborsaanews.com\/2020\/01\/06\/1282537\">Ahmed Badawy said<\/a>. The bill would, among other things, regulate how businesses use personal information collected online and has already received committee-level approval, according to Badawy. You can <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/breaking-down-egypts-data-protection-act\/\">check out our comprehensive breakdown<\/a> for a refresher on the legislation and how it may affect you and your business.<\/p><p><strong>It\u2019s clutch time on GERD talks: <\/strong>Egypt, Sudan, and Ethiopia will meet again in Addis Ababa on Wednesday to resume talks on the Grand Ethiopian Renaissance Dam (GERD), <a href=\"https:\/\/www.egypttoday.com\/Article\/1\/79417\/Water-Resources-Ministers-of-Egypt-Sudan-Ethiopia-to-resume-talks\">according to Egypt Today<\/a>, before heading back to Washington for a second round of mediation on 13 January. Sudan\u2019s prime minister said in an interview with Al Ahram last week that Khartoum is backing Cairo in the talks, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/358784\/Egypt\/Politics-\/Sudan-PM-says-Khartoum,-Cairo-on-same-page-on-GERD.aspx\">Ahram Online reports<\/a>.<\/p><p><strong>Chinese Foreign Minister Wang Yi and arrived in Cairo last night for a three-day visit<\/strong> as part of an African tour that will also include stops in Djibouti, Eritrea, Burundi, and Zimbabwe, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=07012020&amp;id=d35ec8db-ad71-4838-95a6-9fe4e4389962\">according to Shorouk.<\/a><\/p><p><strong>World Bank delegation coming to town: <\/strong>International Cooperation Minister Rania Al Mashat expects a high-level delegation from the World Bank to visit sometime this month, <a href=\"https:\/\/almalnews.com\/%d9%88%d9%81%d8%af-%d8%b1%d9%81%d9%8a%d8%b9-%d8%a7%d9%84%d9%85%d8%b3%d8%aa%d9%88%d9%89-%d9%85%d9%86-%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d8%af%d9%88%d9%84%d9%8a-%d9%8a%d8%b2%d9%88%d8%b1-%d9%85\/\">according to Al Mal<\/a>. The visit will presumably pave the way for a non-financial agreement with the World Bank going forward.<\/p><p><strong>War drums and \u2026 a plague of locusts? <\/strong>A desert locust outbreak moving north from Central Eastern Africa could be the worst in 25 years, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-01-07\/red-sea-desert-locust-outbreak-threatens-south-sudan-uganda\">according to Bloomberg<\/a>, which notes that \u201ca potentially threatening situation is developing along both sides of the Red Sea with locust numbers increasing on the coasts of Egypt, Sudan, Eritrea, Saudi Arabia and Yemen.\u201d UN data suggests that a square-kilometer swarm of 40 mn locusts can eat the same amount of food as 35,000 people, 20 camels, and six elephants in one day. For more information, <a href=\"http:\/\/www.fao.org\/ag\/locusts\/en\/info\/info\/index.html\">tune into Locust Watch.<\/a><\/p><hr class=\"grey-line\"><p><strong>Our favourite business story of 2020 so far, though, has to be the escape from Japan of <\/strong><strong>Carlos Ghosn. <\/strong>The former Nissan and Renault boss\u2019 flight has captured the imaginations of business scribes like nothing we\u2019ve seen before. The <a href=\"https:\/\/www.wsj.com\/articles\/inside-carlos-ghosns-great-escape-a-train-planes-and-a-big-black-box-11578445084\">Wall Street Journal<\/a> has the inside story of how it appears to have gone down.<\/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\/australia\/\">Australia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/data-protection-act\/\">Data Protection Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                           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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566942\" 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=\"566942\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/last-nights-talk-shows-for-wednesday-8-january-2020\/\">\r\n                            Last night\u2019s talk shows for Wednesday, 8 January 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/last-nights-talk-shows-for-wednesday-8-january-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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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\/2020\/01\/08\/last-nights-talk-shows-for-wednesday-8-january-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566942\" class=\"content-area-description single-story post-566942 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-commodities tag-egx tag-egyptian-commodities-exchange tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-iran tag-libya tag-mohamed-farid tag-turkey tag-us tag-war wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Business and economic news took a backseat on the airwaves last night<\/strong> as the talking heads focused their attention on the deteriorating situation in Libya and Iraq.<\/p>\n<p><strong>The commodities exchange got top billing on the econ side of things:<\/strong> EGX Chairman Mohamed Farid told Al Hayah Al Youm\u2019s Lobna Assal that the new commodities exchange approved by cabinet yesterday will not act as a pricing authority, but will allow the market, through the supply and demand mechanism, to set more reasonable and transparent prices (<a href=\"https:\/\/www.youtube.com\/watch?v=E06yrkYJs_M\">watch, runtime: 6:46<\/a>). Masaa DMC\u2019s Ramy Radwan also covered the story (<a href=\"https:\/\/www.youtube.com\/watch?v=IUfIbGnSHjU\">watch, runtime: 2:48<\/a>). We have more on the commodities exchange in this morning\u2019s Speed Round below.<\/p>\n<p><strong>Al Hayah Al Youm want us to get behind the Libyan National Army:<\/strong> Gen. Khalifa Haftar\u2019s Egypt-backed LNA have seized control of the Libyan port town of Sirte, LNA spokesperson Khaled Al Mahjoub told Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=buVUOJvekXk\">watch, runtime: 12:26<\/a>). Al Mahjoub claimed that Haftar\u2019s forces took the city in just three hours, capturing 17 Turkish armored vehicles in the process. Turkey has begun deploying troops in the country in support of the UN-backed government of Fayez Al Serraj. Again, we have more on this in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>EgyptAir suspends flights to Baghdad as US-Iran tensions rise:<\/strong> Yahduth Fi Misr\u2019s Sherif Amer highlighted EgyptAir\u2019s announcement of a three-day flight suspension to Baghdad airport due to security concerns. The decision will take effect today and will last until 10 January or until security conditions improve, the Civil Aviation Ministry has said (<a href=\"https:\/\/www.youtube.com\/watch?v=CKrixvS7ZeE\">watch, runtime: 1:14<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-commodities-exchange\/\">Egyptian Commodities Exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"566943\" 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=\"566943\">\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\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/\">\r\n                            Egypt\u2019s non-oil business activity inches up in December, remains in contraction territory                        <\/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\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/\" 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\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/')\">\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\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/\">\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=Egypt\u2019s non-oil business activity inches up in December, remains in contraction territory&url=https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/\">\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\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/&title=Egypt\u2019s non-oil business activity inches up in December, remains in contraction territory\">\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=Egypt%E2%80%99s+non-oil+business+activity+inches+up+in+December%2C+remains+in+contraction+territory+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F01%2F08%2Fegypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory%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\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/535.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566944\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/535-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/535.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"535.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/535.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/535.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566943\" class=\"content-area-description single-story post-566943 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-enterpriseam tag-industry tag-pmi tag-speed-round 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>Non-oil business activity improves slightly in December, but it\u2019s still in contraction<\/strong><strong> territory:<\/strong> Egypt\u2019s non-oil private sector continued to contract in December, albeit at a slightly slower rate than November, which saw the lowest level of private sector business activity in two years, according to the <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/7b6171379bc047cc8a881bcbb5189514\">Markit \/ Emirates NBD purchasing managers index (PMI) (pdf)<\/a>. The PMI gauge inched up to 48.2 in December from 47.9 in November, indicating a slight m-o-m improvement. A reading above 50.0 indicates that activity is expanding, while a reading below that mark means it is contracting. Egypt\u2019s PMI expanded only twice in 2019.<\/p>\n<p><strong>Despite the softer m-o-m downturn, \u201cheadwinds remain on the external front, with new export orders falling<\/strong> at the steepest rate in over three years,\u201d said David Owens, economist at IHS Markit. Output levels and new orders both dropped during the month on the back of \u201csubdued\u201d market conditions that panelists say persisted throughout the year. Some firms also reported liquidity issues having an effect on output levels.<\/p>\n<p><strong>Companies cut jobs for the second month in a row:<\/strong> The decrease in December\u2019s employment figures was also sharper than in November. Some firms simply did not replace voluntary leavers, while other firms actively reduced their labor force due to low orders.<\/p>\n<p><strong>Demand from foreign clients was particularly hard-hit during the month<\/strong>, as a \u201cdifficult trade climate\u201d pushed it to fall at the steepest rate in three years<\/p>\n<p><strong>The bright spot \u2014 EGP rally curbs input cost inflation:<\/strong> The strengthening of the EGP over the past several weeks drove down input cost inflation as firms were able to import raw materials at lower costs. \u201cCompanies have responded with solid reductions in output charges during the past two months, which may help to boost sales in the near future,\u201d Owens said. Respondents said they hope the discounts will drive up sales volumes over the next few months. \u201cUpcoming PMI releases will show whether the non-oil sector can be swiftly reinvigorated.\u201d<\/p>\n<p><strong>Business sentiment for 2020 was higher than the average in 2019<\/strong>, as respondents remain optimistic that a rebound in activity \u2014 buoyed by a strengthening EGP and the opening of new branches \u2014 is in the cards.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/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=\"566973\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566974\" 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=\"566974\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypt-in-the-news-on-8-january-2020\/\">\r\n                            Egypt in the News on 8 January 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypt-in-the-news-on-8-january-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+8+January+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F01%2F08%2Fegypt-in-the-news-on-8-january-2020%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypt-in-the-news-on-8-january-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566974\" class=\"content-area-description single-story post-566974 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a reasonably quiet week for Egypt in the international press.<\/strong> Barring significant hard news, you can expect the conversation on our country to be (a) muted or (b) seen entirely through the lens of tensions between the US and Iran for the coming days, at a minimum.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-in-the-news\/\">Egypt in the News<\/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=\"566975\" 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=\"566975\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypt-signs-up-to-saudi-backed-red-sea-security-council\/\">\r\n                            Egypt signs up to Saudi-backed Red Sea security council                        <\/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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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypt-signs-up-to-saudi-backed-red-sea-security-council\/&title=Egypt signs up to Saudi-backed Red Sea security council\">\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=Egypt+signs+up+to+Saudi-backed+Red+Sea+security+council+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F01%2F08%2Fegypt-signs-up-to-saudi-backed-red-sea-security-council%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\/2020\/01\/08\/egypt-signs-up-to-saudi-backed-red-sea-security-council\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566975\" class=\"content-area-description single-story post-566975 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-iran tag-saudi-arabia tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt signs up to Saudi-backed Red Sea security council:<\/strong> Egypt and seven other countries bordering the Red Sea and Gulf of Aden formed a regional security council during a meeting in Riyadh on Monday, <a href=\"https:\/\/www.arabnews.com\/node\/1609121\/saudi-arabia\">according to Arab News<\/a>. Foreign Minister Sameh Shoukry, along with the foreign ministers of Saudi Arabia, Jordan, Sudan, Yemen, Djibouti, Eritrea and Somalia signed the founding document of the alliance, which will promote closer security cooperation in the Red Sea. The organization <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/13\/more-what-were-tracking-on-12-december-2018\/\">was proposed by Saudi Arabia back in 2018<\/a> as a means of protecting its regional interests from rivals Iran, Turkey and Qatar.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"566977\" 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=\"566977\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/the-market-yesterday\/\">\r\n                            The Market Yesterday                        <\/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\/2020\/01\/08\/the-market-yesterday\/\" 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\/2020\/01\/08\/the-market-yesterday\/')\">\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\/2020\/01\/08\/the-market-yesterday\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/the-market-yesterday\/\">\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\/2020\/01\/08\/the-market-yesterday\/&title=The Market Yesterday\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F01%2F08%2Fthe-market-yesterday%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\/2020\/01\/08\/the-market-yesterday\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566977\" class=\"content-area-description single-story post-566977 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.99 | Sell 16.11<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.99 | Sell 16.09<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.99 | Sell 16.09<\/p>\n<p><strong>EGX30<\/strong> (Monday): 13,212 (-0.5%)<br \/>\n <strong>Turnover:<\/strong> EGP 564 mn (17% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -5.4%<\/p>\n<p><strong>THE MARKET ON MONDAY:<\/strong> The EGX30 ended Monday\u2019s session down 0.5%. CIB, the index\u2019s heaviest constituent, ended up 0.1%. The EGX30\u2019s top performing constituents were Juhayna up 3.8%, Cleopatra Hospital up 3.4%, and Elsewedy Electric up 1.9%. Yesterday\u2019s worst performing stocks were Ezz Steel down 8.6%, Egyptian Iron & Steel down 6.3% and Egyptian Resorts down 6.0%. The market turnover was EGP 564 mn, and local investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net long | EGP +11.8 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +6.3 mn<br \/>\n <strong>Domestic<\/strong>: Net short | EGP -18.1 mn<\/p>\n<p><strong>Retail<\/strong>: 57.3% of total trades | 54.2% of buyers | 60.5% of sellers<br \/>\n <strong>Institutions<\/strong>: 42.7% of total trades | 45.8% of buyers | 39.5% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 62.63 (-1.0%)<br \/>\n <strong>Brent:<\/strong> USD 68.18 (-1.1%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 2.15 MMBtu, (+0.8%, February 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,573.60 \/ troy ounce (+0.3%)<\/p>\n<p><strong>TASI:<\/strong> 8,198 (-0.1%) (YTD: -2.3%)<br \/>\n <strong>ADX:<\/strong> 5,056 (+1.0%) (YTD: -0.4%)<br \/>\n <strong>DFM:<\/strong> 2,746 (+2.0%) (YTD: -0.7%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,808 (+1.3%)<br \/>\n <strong>QE:<\/strong> 10,381 (-0.3%) (YTD: -0.4%)<br \/>\n <strong>MSM:<\/strong> 3,948 (-0.1%) (YTD: -0.8%)<br \/>\n <strong>BB: <\/strong>1,592 (+0.5%) (YTD: -1.1%)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/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=\"566978\" 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\/2020\/01\/08\/566978\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566978\" class=\"content-area-description single-story post-566978 post type-post status-publish format-standard hentry category-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>January 2020: 1,000 artifacts to be displayed when <a href=\"https:\/\/www.egypttoday.com\/Article\/4\/79118\/Hurghada-Museum-to-be-inaugurated-on-Jan-2020\">Hurghada Museum opens.<\/a><\/p>\n<p>January 2020: <a href=\"https:\/\/punchng.com\/uk-africa-investment-summit-holds-in-jan-2020-foreign-secretary\/\">UK-Africa Investment summit<\/a>, London, United Kingdom.<\/p>\n<p>8 January 2020 (Wednesday): Complaint by minority shareholders of Americana Egypt against Adeptio, lodged with specialized committees of the Cairo Economic Court, to be heard. Consideration of the <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/09\/adeptio-calls-on-investment-minister-to-intervene-in-americana-egypt-dispute-8005\/\">lawsuit filed by Americana Egypt<\/a> was <a href=\"https:\/\/almalnews.com\/%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D8%AF%D8%B9%D9%88%D9%89-%D8%A3%D9%82%D9%84%D9%8A%D8%A9-%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7%D9%86%D8%A7-%D9%85%D8%B5%D8%B1-%D8%B6%D8%AF-%D8%AA%D9%82%D8%B1\/\">previously deferred<\/a> by the Cairo Economic Court from 30 December 2019 to 3 January 2020.<\/p>\n<p>9-12 January 2020 (Thursday-Sunday): <a href=\"http:\/\/www.plastex-online.com\/\">PLASTEX<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9-10 January 2020 (Thursday-Friday): Egypt, Ethiopia and Sudan will hold talks in Addis Ababa on GERD.<\/p>\n<p>11 January 2020 (Saturday): Postponed court session for the case filed by the Emirati Aditya Group, which owns the Egyptian Company for International Touristic Projects, against the Financial Supervision Authority.<\/p>\n<p>13 January 2020 (Monday): Egypt, Sudan, and Ethiopia move to Washington, DC, for a fourth (and final?) round of negotiations on GERD.<\/p>\n<p>16 January 2020 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>25 January 2020 (Saturday): 25 January revolution anniversary \/ Police Day, national holiday.<\/p>\n<p>25 January 2020 (Saturday): Midterm break for public schools and universities. Also known as: Two weeks of good commute.<\/p>\n<p>February 2020: An Italian business delegation <a href=\"https:\/\/almalnews.com\/%d9%88%d9%81%d8%af-%d8%a5%d9%8a%d8%b7%d8%a7%d9%84%d9%8a-%d9%8a%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d9%81%d8%a8%d8%b1%d8%a7%d9%8a%d8%b1-%d8%a7%d9%84%d9%85%d9%82%d8%a8%d9%84-%d9%84%d9%84%d8%aa%d8%b9\/\">will visit Egypt<\/a> to discuss investments in the Port Said industrial zone.<\/p>\n<p>February 2020: A delegation of Swiss businesses <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%85%D8%B5%D8%B1-%D9%88%D8%B3%D9%88%D9%8A%D8%B3%D8%B1%D8%A7-%D8%AA%D8%AA%D9%81%D9%82%D8%A7%D9%86-%D8%B9%D9%84%D9%89-%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%AD%D8%AA%D9%89-2024.aspx\">will visit Egypt<\/a> to discuss investment.<\/p>\n<p>February 2020: Higher Education Minister Khaled Abdel-Ghaffar <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=19112019&id=2b9e9b1c-45ad-4af5-82a9-f8650319c562\">will visit<\/a> Minsk, Belarus.<\/p>\n<p>1 February 2020 (Saturday): The administrative court <a href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d9%82%d8%b6%d8%a7%d8%a1-%d8%a7%d9%84%d8%a5%d8%af%d8%a7%d8%b1%d9%89-%d9%8a%d8%a4%d8%ac%d9%84-%d9%82%d8%b6%d9%8a%d8%a9-%d8%a3%d8%af%d9%8a%d8%a8%d9%8a%d8%aa%d9%88-%d8%a3%d9%85%d8%b1\/\">will look into<\/a> an appeal by Adeptio AD Investments against a Financial Regulatory Authority to submit a mandatory tender offer (MTO) for Americana Egypt.<\/p>\n<p>3-5 February 2020: <a href=\"https:\/\/www.facebook.com\/aaif2020\">The Arab-African International Forum<\/a>, Jeddah, Saudi Arabia<\/p>\n<p>4 February (Tuesday): Court hearing for PTT Energy Resources\u2019 <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/06\/thailands-ptt-energy-resources-files-usd-1-bn-lawsuit-against-govt-over-emg\/\">USD 1 bn lawsuit against Egyptian government<\/a><\/p>\n<p>8 February 2020 (Saturday): Midterm break ends. Traffic in Cairo stinks once more.<\/p>\n<p>9-10 February 2020 (Sunday-Monday): The the 33rd ordinary African Union (AU) Summit where Egypt will <a href=\"https:\/\/aawsat.com\/english\/home\/article\/2058256\/egypt-hand-african-union-presidency-south-africa-february\">hand over<\/a> the African Union presidency to South Africa<\/p>\n<p>11-13 February 2020 (Tuesday-Thursday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>23 February 2020 (Sunday): Court session for Arabia Investments Holdings\u2019 <a href=\"https:\/\/almalnews.com\/%d8%aa%d8%a3%d8%ac%d9%8a%d9%84-%d8%af%d8%b9%d9%88%d9%89-%d8%a7%d9%84%d8%b9%d8%b1%d8%a8%d9%8a%d8%a9-%d9%84%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d8%a7%d8%aa-%d8%b6%d8%af-%d8%a8%d9%8a%d8%ac-6\/\">lawsuit against Peugeot<\/a>. It was previously postponed to 24 November 2019 and then to 5 January 2020, and now 23 February.<\/p>\n<p>March 2020: <a href=\"http:\/\/www.menafatf.org\/about\">The Middle East and North Africa Financial Action Task Force<\/a> (MENAFATF) <a href=\"https:\/\/almalnews.com\/%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a9-%d8%a7%d9%84%d8%b9%d9%85%d9%84-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a-%d8%aa%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d9%85%d8%a7%d8%b1%d8%b3-%d8%a7%d9%84%d9%85%d9%82\/\">will visit<\/a> Egypt to assess the progress of actions taken to combat money laundering and terrorist sponsoring activities.<\/p>\n<p>1 March 2020: <a href=\"https:\/\/www.youm7.com\/story\/2019\/11\/28\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%BA%D8%B1%D9%81%D8%A9-%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%85%D8%A4%D8%AA%D9%85%D8%B1%D8%A7-%D8%AF%D9%88%D9%84%D9%8A%D8%A7-%D8%B9%D9%86-%D8%A7%D9%84%D9%84%D9%88%D8%AC%D8%B3%D8%AA%D9%8A%D8%A7%D8%AA\/4516709\">A conference<\/a> on \u201clogistics and its impact on the movement of goods and industry,\u201d venue TBD, Alexandria.<\/p>\n<p>4-5 March 2020 (Wednesday-Thursday): <a href=\"https:\/\/ent.news\/2019\/10\/Press-Release-26th-Annual-Women-Economic-Forum-March-2020-Cairo-Egypt.pdf\">Women Economic Forum<\/a>, Cairo.<\/p>\n<p>25-26 March 2020 (Wednesday-Thursday): <a href=\"http:\/\/www.megaprojectsconf.com\/\">Mega Projects Conference<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>12 April 2020 (Sunday): Easter Sunday<\/p>\n<p>20 April 2020 (Monday): Sham El Nessim, national holiday.<\/p>\n<p>23 April 2020 (Thursday): First day of Ramadan (TBC).<\/p>\n<p>23-26 May 2020 (Saturday-Tuesday): Eid El Fitr (TBC).<\/p>\n<p>25 April 2020 (Saturday): Sinai Liberation Day, national holiday.<\/p>\n<p>5-7 May 2020 (Tuesday-Thursday): <a href=\"https:\/\/www.afsic.net\/\">AFSIC - Investing in Africa<\/a>, London, United Kingdom.<\/p>\n<p>17-20 June 2020 (Wednesday-Saturday): <a href=\"https:\/\/www.automech-formula.com\/en\/home.html\">2019 Automech Formula car expo<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>30 June 2020 (Sunday): June 2013 protests anniversary, national holiday.<\/p>\n<p>November 2020: Egypt <a href=\"http:\/\/gate.ahram.org.eg\/News\/2284801.aspx\">will host simultaneously<\/a> the International Capital Market Association\u2019s emerging market, and Africa and Middle East meetings.<\/p>\n<p>30 July 2020-3 August 2020 (Thursday-Monday): Eid El Adha (TBC), national holiday.<\/p>\n<p>20 August 2020 (Wednesday-Thursday): Islamic New Year (TBC), national holiday.<\/p>\n<p>6 October 2020 (Tuesday): Armed Forces Day, national holiday.<\/p>\n<p>29 October 2020 (Thursday): Prophet Mohamed\u2019s birthday (TBC), national holiday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":566939,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-566938","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"80f14655-540d-45bc-a954-5bc6d3254fbb","teaser":"","photo_url":"https:\/\/ent.news\/2020\/1\/3.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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