{"id":567636,"date":"2020-12-02T04:04:26","date_gmt":"2020-12-02T04:04:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=567636"},"modified":"2025-12-16T06:00:45","modified_gmt":"2025-12-16T06:00:45","slug":"egypts-banks-to-remain-profitable-even-if-bad-loans-rise","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/","title":{"rendered":"Egypt\u2019s banks to remain profitable even if bad loans rise"},"content":{"rendered":"<section id=\"567638\" 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=\"567638\">\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\/12\/02\/what-were-tracking-on-2-december-2020\/\">\r\n                            What we\u2019re tracking on 2 December 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\/12\/02\/what-were-tracking-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-were-tracking-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-were-tracking-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What we\u2019re tracking on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-were-tracking-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-were-tracking-on-2-december-2020\/&title=What we\u2019re tracking on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+we%E2%80%99re+tracking+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fwhat-were-tracking-on-2-december-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\/12\/02\/what-were-tracking-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567638\" class=\"content-area-description single-story post-567638 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-emerging-markets tag-enterpriseam tag-esg tag-joe-biden tag-oecd tag-slack wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends. <\/strong>It\u2019s a busy (but unremarkable) news day today, with the lead stories here at home being the FT\u2019s pronouncement on the fundamental soundness of Egypt\u2019s banking system and the very welcome news that the Damietta LNG plant could re-open as early as 1Q2021. We have chapter and verse on both pieces below.<\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>There\u2019s a lot of talk in the foreign press this morning about how Egypt might pose one of<\/strong> <strong>Joe Biden\u2019s first foreign policy tests.<\/strong> <a href=\"https:\/\/www.ft.com\/content\/1d9b9439-d418-422a-8a24-73bfc6d8965c\">The Financial Times<\/a> suggests that the administration \u2014 which has vowed to place more emphasis on human rights \u2014 could suspend military aid to Egypt and introduce targeted sanctions. <a href=\"https:\/\/www.wsj.com\/articles\/egypt-rights-advocates-appear-in-court-amid-global-outcry-11606838315\">The Wall Street Journal<\/a> says that the arrests of members of the Egyptian Initiative for Personal Rights (EIPR) have set the scene for a \u201cpossible clash\u201d with the president-elect, while <a href=\"https:\/\/www.jpost.com\/middle-east\/egypts-president-steps-up-arrests-of-critics-before-biden-takes-office-650862\">the Media Line<\/a> highlights Biden\u2019s previous criticisms of Trump for being too close to the Egyptian government.<\/p><p><strong>Globally, the big story is about rats jumping off a sinking ship. <\/strong>Squint your eyes the right way and Trump stalwart Bill Barr is doing the right thing: Saying he\u2019s seen no evidence of voter fraud sufficient to sway the outcome of the election (<a href=\"https:\/\/www.ft.com\/content\/8bea6148-23b8-4229-a656-b0ee324c00e1\">Financial Times<\/a>). Meanwhile, the <a href=\"https:\/\/www.nytimes.com\/2020\/12\/01\/us\/politics\/rudy-giuliani-pardon.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">New York Times<\/a> reports that Agent Orange has mulled preemptive pardons for his three eldest kids and \u201cAmerica\u2019s Mayor.\u201d<\/p><p><strong>BIG M&amp;A NEWS that made us cry: <\/strong>Slack, the workplace messaging app, is being swallowed by Salesforce, in a USD 27.7 bn cash-and-stock agreement, the company said in a <a href=\"https:\/\/www.salesforce.com\/news\/press-releases\/2020\/12\/01\/salesforce-definitive-agreement-update\/\">statement<\/a> yesterday. It\u2019s the biggest cloud software acquisition since Microsoft (which desperately wanted to buy Slack once upon a time) bought LinkedIn in 2016. We\u2019ve used Slack since before it was cool and, well, you kinda have to wonder what becomes of it next.<\/p><hr class=\"grey-line\"><p><strong>SMART POLICY- Nasdaq-listed companies will need to have at least one woman on their <\/strong><strong>boards of directors<\/strong> if a new policy proposal gets the green light from the Securities and Exchange Commission, the <a href=\"https:\/\/www.wsj.com\/articles\/nasdaq-proposes-board-diversity-rule-for-listed-companies-11606829244\">Wall Street Journal<\/a> reports, noting that most listed companies fall short of the requirement today. The proposal would also require them ot have at least one director who is LGBT+ or from an \u201cunderrepresented minority.\u201d Germany also imposed <a href=\"https:\/\/edition.cnn.com\/2020\/11\/23\/business\/germany-quotas-women-boards\/index.html\">last month<\/a> a one-woman quota for listed companies\u2019 boards of directors.<\/p><p><strong>Egypt is already on its way to the same goal:<\/strong> Listed companies are required to have at least one woman sitting on their board by the end of 2020, under <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/decisions\/dec1232019.htm\">regulations<\/a> the Financial Regulatory Authority issued last year.<\/p><p><strong>How are we doing with that? Uh, not so well: <\/strong>As of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5ed903b-f9c1-4e0d-be0e-d32f81400a65\">one week ago<\/a>, just a little over half of the EGX30\u2019s constituents were in compliance with the regs.<\/p><hr class=\"grey-line\"><p><strong>The OECD is the latest to call a vaccine-led economic <\/strong><strong>rebound in 2021: <\/strong>The international organization has forecast a gradual bounceback for the global economy, the <a href=\"https:\/\/www.ft.com\/content\/66240dff-2efc-4bb8-9a33-6c5fe2882f95\">Financial Times<\/a> reports. China\u2019s economy is set to grow 10% by the end of 2021, the US is expected to stay largely the same, while European economies will perform badly, with the UK set to shrink at least 6%.<\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a><strong> MARKET WATCH- Emerging markets saw a record USD 76.5 bn of inflows during<\/strong> <strong>November<\/strong> as investors reacted to positive news in the development of covid-19 vaccines and fears of a chaotic transfer of power in the US subsided, the Institute of International Finance said in a report yesterday, according to <a href=\"https:\/\/www.reuters.com\/article\/us-global-emerging-flows\/vaccine-u-s-election-news-drive-record-76-5-billion-inflow-to-em-iif-idUSKBN28B5FJ\">Reuters<\/a>. Almost USD 40 bn entered EM stocks \u2014 the second-highest monthly inflow ever \u2014 while USD 36.7 bn was invested into bonds and other debt instruments.<\/p><hr class=\"grey-line\"><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong>The Egypt Economic Summit gets underway today at the St. Regis Hotel in Cairo. You can learn more about the event <a href=\"https:\/\/bit.ly\/37jNpQU\">here<\/a>.<\/p><p>Other key dates for your diary this month:<\/p><ul>\n<li><strong>PMI:<\/strong> November\u2019s purchasing managers\u2019 index figures will drop tomorrow.<\/li>\n<li><strong>Foreign reserves figures<\/strong> for November should be out early next week.<\/li>\n<li><strong>Inflation data<\/strong> for November will be released on Thursday, 10 December.<\/li>\n<\/ul><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Attention art lovers:<\/strong> The Cairo Art Fair kicks off on Friday and runs through 31 January. Tap \/ click here for <strong><a href=\"https:\/\/ent.news\/2020\/12\/CAF_VI-Press-Release.pdf\">full details and a list of participating artists<\/a><\/strong><strong>.<\/strong><\/p><p><strong>ALSO THIS MONTH- Another round of trade talks with the US of A<\/strong> is in the cards, as is a meeting of the Egypt-Iraq higher committee as the two countries continue to draw closer. The <strong>CBE will next review interest rates<\/strong> on 24 December.<\/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 <\/strong>\u2014 your weekly briefing of all things infrastructure in Egypt: Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue:<\/strong> Co-working and shared office spaces have helped some small businesses overcome <a href=\"https:\/\/enterprise.press\/hardhats\/can-smes-get-around-expensive-office-space\/\">rising office rental costs<\/a> in commercial real estate, <a href=\"https:\/\/enterprise.press\/hardhats\/can-smes-get-around-expensive-office-space-pt-ii\/\">we reported previously<\/a>. In the final part of a three-part series, we look at how covid-19 has impacted the rapidly-growing shared office space industry in Egypt.<\/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\/emerging-markets\/\">emerging markets<\/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\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oecd\/\">OECD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/slack\/\">Slack<\/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=\"567639\" 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=\"567639\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/567639\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567639\" class=\"content-area-description single-story post-567639 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\/2020\/11\/SOMA-ENTERPRISE-SPA1600px-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567640\" 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=\"567640\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/\">\r\n                            Egypt\u2019s banks are (for the most part) financially sound                        <\/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\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/\" 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\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/')\">\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\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/\">\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 banks are (for the most part) financially sound&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/\">\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\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/&title=Egypt\u2019s banks are (for the most part) financially sound\">\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+banks+are+%28for+the+most+part%29+financially+sound+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fegypts-banks-are-for-the-most-part-financially-sound%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\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/41.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567641\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypts-banks-are-for-the-most-part-financially-sound\/41-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/41.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"41.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/41.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/41.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567640\" class=\"content-area-description single-story post-567640 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-covid-19 tag-earnings-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt\u2019s banks remain financially sound and are on track to stay remain in the green<\/strong>, despite expectations for an uptick in bad loans, Heba Saleh writes for the <a href=\"https:\/\/www.ft.com\/content\/5fd036ff-f62f-4075-a105-39b9da208887\">Financial Times<\/a>. Analysts and industry figures expect profits to come under pressure in the coming months as non-performing loans rise. But most remain \u201cwell-capitalized,\u201d with low loan-to-deposit ratios and ample liquidity at hand, despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83ca7356-fbfb-46c9-8ef4-8aaa4a47e754\">ramping up loan loss provisions this year<\/a>, said EFG Hermes\u2019 very smart Elena Sanchez-Cabezudo, who leads MENA financial coverage for the firm.<\/p>\n<p><strong>Banks saw <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83ca7356-fbfb-46c9-8ef4-8aaa4a47e754\">profits shrink by nearly 20% y-o-y<\/a><\/strong><strong> in the second quarter of the year<\/strong>, when the covid-19 lockdown was at its height. This was \u201ca very decent performance,\u201d considering how much banks set aside to cover for bad loans and an <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/23\/executive-regs-for-new-tax-treatment-of-banks-corporations-out-in-official-gazette\/\">increase in the effective tax rate of banks<\/a>, Sanchez-Cabezudo said. Despite the central bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5662d281-1e6f-4604-b559-ae1ac16ce3be\">cutting interest rates by 400 bps<\/a> this year, banks still maintain high profit margins from lending to the government through investing in treasuries, she added.<\/p>\n<p><strong>\u201cBanks have entered this crisis in relatively good shape<\/strong> following a multiyear restructuring, especially state-owned banks, which have good [local currency] liquidity,\u201d Constantinos Kypreos, lead analyst for Egyptian banks at ratings agency Moody\u2019s, said. Moody\u2019s expects banks to raise provisions further, but remain in good shape. Kyperos added.<\/p>\n<p><strong>Bad loans also aren\u2019t a problem now, but check back in mid-\u201921 to be sure: <\/strong>\u201cThe last thing you want is to realise that you have underprovided for non-performing loans. I can confidently say that we have not had a single customer default, because of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a764f777-d28d-4b56-a96e-be8f1d69f242\">debt standstill<\/a>,\u201d CIB chief executive Hussein Abaza says, referring to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a764f777-d28d-4b56-a96e-be8f1d69f242\">a March decision<\/a> by the central bank to delay loan repayments for individuals and businesses by six months. CIB has ramped up provisions out of caution, with Abaza explaining that after modeling how the crisis could hit various sectors, \u201cWe want to be prepared for anything. We won\u2019t be able to say if we over provided or underprovided until the middle of next year.\u201d BdC has also taken extra provisions, Chairman Tarek Fayed said.<\/p>\n<p><strong>The story is part of the FT\u2019s <\/strong><strong><a href=\"https:\/\/www.ft.com\/reports\/arab-banking-finance\">series on banking and finance<\/a><\/strong><strong> in North Africa and the GCC. <\/strong>Catching our eye in particular:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.ft.com\/content\/eac7cacf-4a8b-4709-992c-8da8d52b5960\">Gulf regulators must clarify their cross-border responsibilities<\/a><\/li>\n<li><a href=\"https:\/\/www.ft.com\/content\/d6606e74-fec5-4358-b676-16e43eae725c\">Investment banks stick with Gulf despite falling fees<\/a><\/li>\n<li><a href=\"https:\/\/www.ft.com\/content\/00a546be-dfd9-489b-8396-dc71c1c2f2d3\">Gulf banks take lead role in companies\u2019 bailouts<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/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-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567642\" 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=\"567642\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/\">\r\n                            Damietta LNG plant could reopen in 1Q, boosting our East Med hub ambitions                        <\/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\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/\" 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\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/')\">\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\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/\">\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=Damietta LNG plant could reopen in 1Q, boosting our East Med hub ambitions&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/\">\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\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/&title=Damietta LNG plant could reopen in 1Q, boosting our East Med hub ambitions\">\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=Damietta+LNG+plant+could+reopen+in+1Q%2C+boosting+our+East+Med+hub+ambitions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fdamietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions%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\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/42.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567643\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/damietta-lng-plant-could-reopen-in-1q-boosting-our-east-med-hub-ambitions\/42-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/42.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"42.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/42.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/42.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567642\" class=\"content-area-description single-story post-567642 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-egas tag-egyptian-general-petroleum-corporation tag-egyptian-natural-gas-holding-company tag-energy tag-eni tag-enterpriseam tag-naturgy tag-oil-and-gas tag-union-fenosa-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Damietta LNG plant could reopen early next year after Eni, Naturgy seal agreement: <\/strong>Italian energy giant Eni has reached an agreement with the Egyptian government and its Union Fenosa Gas (UFG) partner Naturgy to finally re-open the Damietta LNG plant by the end of 1Q2021 after an eight-year hiatus, Eni said in a <a href=\"https:\/\/www.eni.com\/en-IT\/media\/press-release\/2020\/12\/cs-eni-accordo-riavvio-impianto-egitto.html\">statement<\/a> yesterday. The pact will see Naturgy leave UFG and its stake in the plant redistributed among Eni and its Egyptian state-owned partners the Egyptian Natural Gas Holding Company (EGAS) and the Egyptian General Petroleum Company (EGPC).<\/p>\n<p><strong>Who gets what?<\/strong> Under the new agreement, Eni will own 50% of the plant, and state-owned EGAS will hold 40% and EGPC the remaining 10%. Eni will also take over the contract for the purchase of natural gas for the plant and will receive corresponding liquefaction rights, the statement said.<\/p>\n<p><strong>You\u2019re not wrong to think this all sounds familiar: <\/strong>An earlier attempt to reach an agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e851278-c9cd-40f6-a617-31e96a55f944\">fell through in April<\/a>, despite a preliminary agreement having been reached <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3daaf1d1-c6d5-4930-8f72-36439b986094\">a month earlier<\/a>. Naturgy said at the time that a series of unspecified conditions were not met and, crucially, the reopening of the plant was stalled because of covid-19 restrictions on business operations, a source familiar with the matter <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e851278-c9cd-40f6-a617-31e96a55f944\">told Reuters<\/a>.<\/p>\n<p><strong>Why does the Damietta LNG plant matter?<\/strong> The Damietta plant is a key part of Egypt\u2019s strategy to increase its natural gas exports and emerge as the Eastern Mediterranean\u2019s premier energy hub. Closed since 2012, the plant\u2019s reopening would boost Egypt\u2019s ability to export natural gas to European markets.<\/p>\n<p><strong>Naturgy will receive cash payments adding up to around USD 600 mn<\/strong>, as well as most of UFG\u2019s assets outside of Egypt, excluding its commercial activities in Spain, Naturgy said in a <a href=\"https:\/\/www.naturgy.com\/en\/naturgy_agrees_to_sell_its_stake_in_damietta_rescind_its_egyptian_gas_contracts_and_depart_from_union_fenosa_gas_ufg\">statement<\/a>on Tuesday. Once the plant restarts operations in 1Q2021, Naturgy will depart Egypt and end its JV with Eni.<\/p>\n<p><strong>What to watch for next: <\/strong>Quiet confirmation that the Spanish firm has dropped its <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/04\/arbitrator-orders-egypt-to-pay-usd-2-bn-to-union-fenosa-gas-over-natural-gas-supply-cut-to-damietta-plant\/\">USD 2 bn<\/a><a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/04\/arbitrator-orders-egypt-to-pay-usd-2-bn-to-union-fenosa-gas-over-natural-gas-supply-cut-to-damietta-plant\/\">international arbitration case<\/a> against Egypt dating back to the 2012 shut-off of gas to the plant amid the challenges of the early post-revolution period.<\/p>\n<p><strong>Advisors:<\/strong> Ernst & Young and Matouk Bassiouny & Hennawy represented UFG, Riad & Riad and CMS represented Eni, and Zaki Hashem and Shearman & Sterling represented EGAS.<\/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\/egas\/\">EGAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-natural-gas-holding-company\/\">Egyptian Natural Gas Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naturgy\/\">Naturgy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/union-fenosa-gas\/\">Union Fenosa Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567644\" 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=\"567644\">\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\">RETAIL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/\">\r\n                            Marakez opens new mall, says Black Friday footfall was about on par with \u201819                        <\/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\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/\" 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\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/')\">\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\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/\">\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=Marakez opens new mall, says Black Friday footfall was about on par with \u201819&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/\">\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\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/&title=Marakez opens new mall, says Black Friday footfall was about on par with \u201819\">\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=Marakez+opens+new+mall%2C+says+Black+Friday+footfall+was+about+on+par+with+%E2%80%9819+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fmarakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19%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\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/44.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567645\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/marakez-opens-new-mall-says-black-friday-footfall-was-about-on-par-with-19\/44-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/44.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"44.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/44.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/44.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567644\" class=\"content-area-description single-story post-567644 post type-post status-publish format-standard has-post-thumbnail hentry category-retail tag-carrefour tag-enterpriseam tag-majid-al-futtaim tag-marakez tag-retail wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>Fawaz AlHokair Group\u2019s mall development company Marakez inaugurated Town <\/strong><strong>Center, its new EGP 260 mn convenience mall<\/strong> on the intersection of the Ring Road and Cairo-Ismailia Road, according to an <a href=\"https:\/\/ent.news\/2020\/12\/F.-Press-Release-Town-Center-El-Salam-EN.pdf\">emailed statement (pdf)<\/a>. The new mall is part of Marakez\u2019s plan to invest USD 45 mn this year in four new shopping malls, which Al Hokair brothers Fawaz, Salman, and Abd Al Hamid had announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6dc3430-7050-45d0-8a1e-45fbde76ccb5\">earlier this year<\/a>.<\/p>\n<p><strong>Among Town Center\u2019s first retail outlets: <\/strong>Majid Al Futtaim-owned supermarket chain Carrefour Egypt, which invested EGP 70 mn on the new branch, according to <a href=\"https:\/\/bit.ly\/3mwLWNI\">Masrawy<\/a>. The supermarket chain had planned to spend EGP 200 mn to open nine new stores in Cairo and Alexandria before the end of the year, Egypt country manager Jean Luc Graziato said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/740deb9f-9d11-4fe9-b01d-e6e952b3dd83\">in September<\/a>.<\/p>\n<p><strong>SPEAKING OF BRICK AND MORTAR RETAILERS:<\/strong> Black Friday footfall at Marakez Egypt\u2019s malls was just a little lower this year than it was in 2019, Executive Vice Chairman Ahmed Badrawi told Enterprise. While the day itself saw a little less traffic than last year, overall footfall throughout November was higher than 2019 as retailers extended Black Friday offers for the majority of the month, Badrawi said. Across the pond, the picture is different \u2014 in-store traffic dropped 52.1% y-o-y on Black Friday in the US, while spending on e-commerce surged 21.6%, according to <a href=\"https:\/\/www.cnbc.com\/2020\/11\/28\/black-friday-traffic-in-stores-craters-52percent-during-pandemic.html\">CNBC<\/a>.<\/p>\n<p><strong>WANT MORE?<\/strong> We sat down this season of Making It <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3db093a-4c44-4086-a27f-ec742132aa9c\">with Majid Al Futtaim Properties CEO Ahmed Galal<\/a> to debate how online commerce compares to the retail experience.<\/p>\n<p><em>CORRECTION- 2 December 2020\u00a0<\/em><\/p>\n<p><em>An earlier version of this story incorrectly identified Ahmed Badrawi as CEO of Marakez Egypt.\u00a0<\/em><\/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\/carrefour\/\">Carrefour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/majid-al-futtaim\/\">Majid Al Futtaim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/marakez\/\">Marakez<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"567646\" 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=\"567646\">\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\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/benban-solar-developers-get-a-break\/\">\r\n                            Benban solar developers get a break                        <\/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\/12\/02\/benban-solar-developers-get-a-break\/\" 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\/12\/02\/benban-solar-developers-get-a-break\/')\">\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\/12\/02\/benban-solar-developers-get-a-break\/\">\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=Benban solar developers get a break&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/benban-solar-developers-get-a-break\/\">\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\/12\/02\/benban-solar-developers-get-a-break\/&title=Benban solar developers get a break\">\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=Benban+solar+developers+get+a+break+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fbenban-solar-developers-get-a-break%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\/12\/02\/benban-solar-developers-get-a-break\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/45.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567647\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/benban-solar-developers-get-a-break\/45-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/45.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"45.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/45.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/45.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567646\" class=\"content-area-description single-story post-567646 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-benban-solar-park tag-eetc tag-egyptian-electricity-transmission-company tag-energy tag-enterpriseam tag-renewables 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>It\u2019s settled: Benban solar developers get reduced cost-sharing bill. <\/strong>The Egyptian Electricity Transmission Company (EETC) has signed an agreement with 32 solar developers operating at the Benban plant that will cut their cost-sharing bill by EGP 300 mn to EGP 1.6 bn, the <a href=\"https:\/\/bit.ly\/3qgsoPH\">local press<\/a> reports, citing unnamed sources familiar with the matter. The agreement, which was first reported <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78a2ff7a-8043-416c-946a-6708c7273987\">in October<\/a>, will allow the developers to pay the sum across six installments over a five-year period, an earlier portion of which will be interest-free.<\/p>\n<p><strong>This is the second time the EETC has agreed to lower the bill<\/strong>, which was originally priced at EGP 2.4 bn in May 2019. The dispute dates back to that year, when the EETC <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/24\/electricity-ministry-raises-benbans-solar-park-cost-sharing-bill\/\">raised the bill by 25%<\/a> citing higher-than-expected building costs, <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/28\/egypts-benban-developers-not-made-aware-of-25-rise-in-costs\/\">without notifying the developers<\/a> who refused to pay the increase.<\/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\/benban-solar-park\/\">Benban solar park<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eetc\/\">EETC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-electricity-transmission-company\/\">Egyptian Electricity Transmission Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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=\"567648\" 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=\"567648\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/mmmm-100-mn-is-enough\/\">\r\n                            Mmmm\u2026 100 mn is enough?                        <\/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\/12\/02\/mmmm-100-mn-is-enough\/\" 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\/12\/02\/mmmm-100-mn-is-enough\/')\">\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\/12\/02\/mmmm-100-mn-is-enough\/\">\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=Mmmm\u2026 100 mn is enough?&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/mmmm-100-mn-is-enough\/\">\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\/12\/02\/mmmm-100-mn-is-enough\/&title=Mmmm\u2026 100 mn is enough?\">\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=Mmmm%E2%80%A6+100+mn+is+enough%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fmmmm-100-mn-is-enough%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\/12\/02\/mmmm-100-mn-is-enough\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/46.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567649\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/mmmm-100-mn-is-enough\/46-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/46.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"46.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/46.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/46.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567648\" class=\"content-area-description single-story post-567648 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-culture tag-enterpriseam tag-health tag-media tag-policy tag-population-growth 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>The government wants us to stop reproducing like rabbits. <\/strong>A two-year action plan aims to bring down Egypt\u2019s fertility rate to 2.4 children per woman by 2030, down from a current 3.5 children per woman, Planning Minister Hala El Said said in <a href=\"https:\/\/bit.ly\/3qfgBBb\">a statement<\/a>. The strategy will see the government push women\u2019s participation in the labor force, widen access to contraception, drive media campaigns and use unspecified \u201cdigitization and legislation\u201d to \u201cinfluence behaviour.\u201d<\/p>\n<p><strong>SMART POLICY- <\/strong>The government is looking to increase labor force participation among women aged 18-45, with a primary focus on women in villages <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/06\/egypt-to-target-100-poorest-villages-with-a-decent-life-initiative\/\">classified as impoverished<\/a> under President Abdel Fattah El Sisi\u2019s recent Decent Life initiative, according to El Said.<\/p>\n<p><strong>This strategy comes as part of <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7747822-d8b9-4162-a3d4-8ef085df9d7f\">the wider government plan<\/a><\/strong> to better-manage population growth. The <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/27\/social-solidarity-ministry-launches-two-is-enough-family-planning-program\/\">EGP 100 mn Two is Enough<\/a> initiative <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/27\/social-solidarity-ministry-launches-two-is-enough-family-planning-program\/\">launched in 2018<\/a> falls under the same umbrella. We officially hit the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6401cff0-773e-4a90-8fe0-10ababfb0149\">100 mn mark<\/a> earlier this year \u2014 the head of state statistics agency Capmas said at the time that family planning could help us limit the population to 143 mn people by 2052 rather than 192 mn if growth is left unchecked.<\/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\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/media\/\">media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/population-growth\/\">population growth<\/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=\"567650\" 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=\"567650\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/whos-in-the-market-for-debt-2\/\">\r\n                            Who\u2019s in the market for debt?                        <\/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\/12\/02\/whos-in-the-market-for-debt-2\/\" 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\/12\/02\/whos-in-the-market-for-debt-2\/')\">\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\/12\/02\/whos-in-the-market-for-debt-2\/\">\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=Who\u2019s in the market for debt?&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/whos-in-the-market-for-debt-2\/\">\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\/12\/02\/whos-in-the-market-for-debt-2\/&title=Who\u2019s in the market for debt?\">\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=Who%E2%80%99s+in+the+market+for+debt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fwhos-in-the-market-for-debt-2%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\/12\/02\/whos-in-the-market-for-debt-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567650\" class=\"content-area-description single-story post-567650 post type-post status-publish format-standard hentry category-debt-watch tag-banque-du-caire tag-banque-misr tag-city-edge tag-debt-watch tag-enterpriseam tag-madbouly-cabinet wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Banque du Caire is getting USD 30 mn in tier-two capital<\/strong> under a financing agreement with German development bank KfW\u2019s Sanad fund, <a href=\"https:\/\/bit.ly\/3fSJxtW\">Hapi journal<\/a> reports. The facility, the final agreement for which Banque du Caire and Sanad signed yesterday, will be used for on-lending to SMEs and farmers.<\/p>\n<p><strong>MEANWHILE-<\/strong><\/p>\n<p><strong>Ora Developers signed an eight-year, EGP 2.5 bn syndicated loan agreement<\/strong> with Banque Misr, Emirates NBD, the Export Development Bank and the Housing and Development Bank to help finance the first and second phases of its Zed West real estate project, according to <a href=\"https:\/\/ent.news\/2020\/12\/Ora-Developers-PRL-1.12.2020.pdf\">a press release (pdf)<\/a>.<\/p>\n<p><strong>The National Bank of Egypt is mulling EGP 20 <\/strong><strong>bn-worth of syndicated loans<\/strong> with unnamed banks to finance port, infrastructure, and real estate projects, Vice Chairman Yehia Abou El Fotouh said, reports <a href=\"https:\/\/bit.ly\/39CVQtc\">Mubasher<\/a>.<\/p>\n<p><strong>City Edge Developments <\/strong><strong>is closing in<\/strong><strong> on a EGP 1.1 bn s<\/strong><strong>yndicated loan<\/strong> from the National Bank of Egypt and Banque Misr to build a mall in Sheikh Zayed, according to <a href=\"https:\/\/bit.ly\/2KHi7M7\">Al Mal<\/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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/city-edge\/\">City edge<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/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=\"567651\" 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=\"567651\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/567651\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567651\" class=\"content-area-description single-story post-567651 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\/2020\/11\/SODIC-Karmell-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567652\" 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=\"567652\">\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\">Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/\">\r\n                            EFG Hermes tops Egypt\u2019s brokerage league table in November                        <\/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\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/\" 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\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/')\">\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\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/\">\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=EFG Hermes tops Egypt\u2019s brokerage league table in November&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/\">\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\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/&title=EFG Hermes tops Egypt\u2019s brokerage league table in November\">\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=EFG+Hermes+tops+Egypt%E2%80%99s+brokerage+league+table+in+November+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fefg-hermes-tops-egypts-brokerage-league-table-in-november%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\/12\/02\/efg-hermes-tops-egypts-brokerage-league-table-in-november\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567652\" class=\"content-area-description single-story post-567652 post type-post status-publish format-standard hentry category-finance tag-capital-markets tag-efg-hermes tag-enterpriseam tag-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EFG Hermes topped the EGX\u2019s brokerage league table in November<\/strong> with a market share of 17.4%, according to <a href=\"https:\/\/ent.news\/2020\/12\/DiscDoc_ID30701_30-Nov-2020_ENG.pdf\">EGX figures (pdf)<\/a>. Rounding out the top five: Our friends at Pharos with 5.9%, CI Capital (5%), Beltone (4.9%), and Pioneers (4.3%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567653\" 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=\"567653\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/dice-turns-a-loss-in-9m2020\/\">\r\n                            Dice turns a loss in 9M2020                        <\/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\/12\/02\/dice-turns-a-loss-in-9m2020\/\" 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\/12\/02\/dice-turns-a-loss-in-9m2020\/')\">\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\/12\/02\/dice-turns-a-loss-in-9m2020\/\">\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=Dice turns a loss in 9M2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/dice-turns-a-loss-in-9m2020\/\">\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\/12\/02\/dice-turns-a-loss-in-9m2020\/&title=Dice turns a loss in 9M2020\">\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=Dice+turns+a+loss+in+9M2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fdice-turns-a-loss-in-9m2020%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\/12\/02\/dice-turns-a-loss-in-9m2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567653\" class=\"content-area-description single-story post-567653 post type-post status-publish format-standard hentry category-earnings-watch tag-dice-sport-and-casual-wear tag-earnings-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dice has reported EGP 56.6 mn in losses over 9M2020<\/strong> down from EGP 125.3 mn in net incone during the first nine months of 2019, according to a company <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/116228_092027.pdf\">earnings release (pdf)<\/a>. Dice recorded net sales of EGP 831.67 mn in 9M2020, down from EGP 1.14 bn in the same time last year.<\/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\/dice-sport-and-casual-wear\/\">Dice Sport and Casual Wear<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567654\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper 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 stk-block-column stk-column stk-block stk-wndi5sr\" data-v=\"4\" data-block-id=\"wndi5sr\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-wndi5sr-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-wndi5sr-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\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-9t4dfct\" data-v=\"4\" data-block-id=\"9t4dfct\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9t4dfct-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9t4dfct-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-6st71o4\" data-v=\"4\" data-block-id=\"6st71o4\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-6st71o4-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-6st71o4-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-qrwc4xt\" data-v=\"4\" data-block-id=\"qrwc4xt\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-qrwc4xt-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-qrwc4xt-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567655\" 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=\"567655\">\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\/2020\/12\/02\/last-nights-talk-shows-on-2-december-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 2 December 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\/12\/02\/last-nights-talk-shows-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/last-nights-talk-shows-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/last-nights-talk-shows-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/last-nights-talk-shows-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/last-nights-talk-shows-on-2-december-2020\/&title=Last Night\u2019s Talk Shows on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Flast-nights-talk-shows-on-2-december-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\/12\/02\/last-nights-talk-shows-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/49.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567656\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/last-nights-talk-shows-on-2-december-2020\/49-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/49.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"49.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/49.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/49.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567655\" class=\"content-area-description single-story post-567655 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The new operating hours regs received attention on the airwaves last night:<\/strong> Masaa DMC's Ramy Radwan interviewed Mohamed Al Fayoumi, the treasurer of the Federation of Egyptian Chambers of Commerce, for his take on the regs, while Khaled Qassem, spokesperson for the Local Development Ministry, was back to outline the penalties for non-compliance on Yahduth Fi Misr (watch, runtime <a href=\"https:\/\/www.youtube.com\/watch?v=D_DsN_LE3f0\">3:22<\/a>|<a href=\"https:\/\/www.youtube.com\/watch?v=jvrxLtUhS-U\"><\/a><a href=\"https:\/\/www.youtube.com\/watch?v=jvrxLtUhS-U\">2:54<\/a>).<\/p>\n<p><strong>On a related note: Unlicensed shops will now be able to be able to apply for temporary licenses<\/strong> until they go fully legit after the House Local Development Committee yesterday issued regulations, MP and committee member Ahmed El Seginy told Al Hayah Al Youm\u2019s Mohamed Sherdy <a href=\"https:\/\/www.youtube.com\/watch?v=Qs5T9JfvXIk\">(watch, runtime: 23:52)<\/a>.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Another warning to take covid seriously:<\/strong> The cold weather and a lack of public discipline keeping to precautionary measures is to blame for the rising cases, Gihan Al Assal, deputy of the Health Ministry\u2019s Scientific Committee, reiterated on Ala Mas\u2019ouleety <a href=\"https:\/\/www.youtube.com\/watch?v=cg0Fr9L2vzM&t=54s\">(watch, runtime: 9:13)<\/a>.<\/li>\n<li><strong>The story of a doctor unlucky enough to catch covid-19 three times<\/strong> received coverage from Yahduth Fi Misr\u2019s Sherif Amer <a href=\"https:\/\/www.youtube.com\/watch?v=JDT8MFeKutA\">(watch, runtime: 3:28)<\/a> and Al Hayah Al Youm\u2019s Mohamed Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=3VZR89_yttY\">watch, runtime: 3:57<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567657\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567658\" 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=\"567658\">\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\/2020\/12\/02\/egypt-in-the-news-on-2-december-2020\/\">\r\n                            Egypt in the News on 2 December 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\/12\/02\/egypt-in-the-news-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypt-in-the-news-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypt-in-the-news-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypt-in-the-news-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/egypt-in-the-news-on-2-december-2020\/&title=Egypt in the News on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fegypt-in-the-news-on-2-december-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\/12\/02\/egypt-in-the-news-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567658\" class=\"content-area-description single-story post-567658 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-armed-forces tag-enterpriseam tag-giulio-regeni tag-imf tag-italy tag-national-security wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Once again, human rights dominates the conversation on Egypt <\/strong>in the international press. At the top of the list in the press and on social media is the <a href=\"https:\/\/www.theguardian.com\/world\/2020\/dec\/01\/egypt-detains-photographer-after-dancer-shoot-at-pyramid\">arrest of a dancer<\/a> and her photographer after a shoot at the Djoser Pyramid. Meanwhile, <a href=\"https:\/\/www.hrw.org\/news\/2020\/11\/30\/letter-imf-executive-board-re-transparency-egypts-military-firms#\">Human Rights Watch<\/a> wants the IMF to require more transparency on military-owned enterprises, <a href=\"https:\/\/cpj.org\/2020\/11\/egypt-extends-pretrial-detention-of-photographer-sayed-abd-ellah-by-filing-new-terrorism-charge\/\">CPJ<\/a> says a detained photographer faces new terrorism charges, and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dde11158-5925-4267-96ab-f1a22b117e4a\">suspension<\/a> of Egypt\u2019s investigation into the murder of Italian PhD student Giulio Regeni is <a href=\"https:\/\/intpolicydigest.org\/2020\/12\/01\/giulio-regeni-egypt-and-the-nile-dam-untangling-his-murder\/\">still getting ink<\/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\/armed-forces\/\">Armed Forces<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giulio-regeni\/\">Giulio Regeni<\/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\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/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=\"567659\" 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=\"567659\">\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\/2020\/12\/02\/also-on-our-radar-on-2-december-2020\/\">\r\n                            Also on our radar on 2 December 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\/12\/02\/also-on-our-radar-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/also-on-our-radar-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/also-on-our-radar-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Also on our radar on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/also-on-our-radar-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/also-on-our-radar-on-2-december-2020\/&title=Also on our radar on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Also+on+our+radar+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Falso-on-our-radar-on-2-december-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\/12\/02\/also-on-our-radar-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567659\" class=\"content-area-description single-story post-567659 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-electricity-ministry tag-enterpriseam tag-jica tag-sodic tag-vocational-education wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Misr Ins. Holding Company is considering <a href=\"https:\/\/bit.ly\/2JyaeIg\">expanding<\/a> its portfolio to include financial leasing, factoring, and microfinance by acquiring existing entities or establishing new ones, said <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/06\/basel-el-hini-chairman-and-managing-director-misr-insurance-holding-company-mihc\/\">Chairman Basel El Hini<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>UK-based outfit <strong><a href=\"https:\/\/fosroc.com\/english\">Fosroc<\/a><\/strong> will manufacture and distribute construction chemicals in Egypt after setting up a 50-50 joint venture firm with <a href=\"https:\/\/www.chemtech-egypt.com\/\">ChemTech<\/a>, Fosroc said in <a href=\"https:\/\/fosroc.com\/news\/fosroc-enters-into-a-jv-with-chemtech%2C-a-leader-in-the-egyptian-construction-chemicals-industry\">a statement<\/a>.<\/li>\n<li>Chinese smartphone maker <strong>Infinix<\/strong> <a href=\"https:\/\/bit.ly\/2KWcEkR\">has started manufacturing phones<\/a> at its local factory in Assiut\u2019s tech zone.<\/li>\n<li>The Central Administration of Agricultural Quarantine has <a href=\"https:\/\/bit.ly\/3ocY86p\">placed new controls<\/a> on <strong>citrus exports<\/strong> to Japan, limiting the type of fruits available for export and requiring them to be shipped by sea only.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jica\/\">JICA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vocational-education\/\">Vocational education<\/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=\"567660\" 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=\"567660\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/\">\r\n                            Everything you need to know about covid at home and abroad on 2 December 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\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Everything you need to know about covid at home and abroad on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/&title=Everything you need to know about covid at home and abroad on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Everything+you+need+to+know+about+covid+at+home+and+abroad+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Feverything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-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\/12\/02\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567660\" class=\"content-area-description single-story post-567660 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-moderna tag-pfizer wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The daily covid tally is continuing to creep up:<\/strong> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2JA48HC\">reported<\/a><\/strong><strong> 392 new <\/strong><strong>covid-19 infections yesterday<\/strong>, up from 370 the day before. The ministry also reported 16 new deaths, bringing the country\u2019s total death toll to 6,666. Egypt has now disclosed a total of 116,303 confirmed cases of covid-19.<\/p>\n<p><strong>Next year\u2019s Thanaweya Amma exams on 19 June <\/strong><strong><a href=\"http:\/\/gate.ahram.org.eg\/News\/2536823.aspx\">will be held online<\/a><\/strong> for all high school students.<\/p>\n<p><strong>Covid-19 vaccine distribution in Europe won\u2019t begin until January <\/strong>after pharma regulators pushed assessments for the Pfizer \/ BioNTech and Moderna vaccines to 29 December and 12 January, <a href=\"https:\/\/www.ft.com\/content\/21f16d65-803d-4b2f-818a-5a1b7c712481\">the FT<\/a> reports.<\/p>\n<p><strong>Some 10-15% of people who have taken the Pfizer \/ Moderna vaccines have<\/strong> <strong>experienced \u201csignificantly noticeable\u201d side effects<\/strong>, head of the Trump administration\u2019s vax development program Moncef Slaoui <a href=\"https:\/\/www.washingtonpost.com\/washington-post-live\/2020\/12\/01\/path-forward-combating-covid-19-with-operation-warp-speed-chief-scientific-adviser-moncef-slaoui\/\">told the Washington Post<\/a>. Medical experts <a href=\"https:\/\/www.cnbc.com\/2020\/11\/23\/covid-vaccine-cdc-should-warn-people-the-side-effects-from-shots-wont-be-walk-in-the-park-.html\">have<\/a><a href=\"https:\/\/www.cnbc.com\/2020\/11\/23\/covid-vaccine-cdc-should-warn-people-the-side-effects-from-shots-wont-be-walk-in-the-park-.html\">urged<\/a> authorities to be upfront about the potential for nasty side effects, so people aren\u2019t put off from returning for the second shot.<\/p>\n<p><strong>Covid-19 could leave permanent scars on business travel:<\/strong> The pandemic could result in business travel being slashed by up to 36% on a permanent basis as workarounds to covid become more entrenched and businesses cut their travel budgets, the <a href=\"https:\/\/www.wsj.com\/articles\/the-covid-pandemic-could-cut-business-travel-by-36permanently-11606830490?mod=hp_lead_pos10\">Wall Street Journal<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moderna\/\">Moderna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567661\" 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=\"567661\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/\">\r\n                            What the markets are doing on 2 December 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\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What the markets are doing on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/&title=What the markets are doing on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+the+markets+are+doing+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fwhat-the-markets-are-doing-on-2-december-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\/12\/02\/what-the-markets-are-doing-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567661\" class=\"content-area-description single-story post-567661 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-planet-finance 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 id=\"tldr-story-09\" class=\"content-anchor\"><\/a><strong> The EGX30 rose 0.9% yesterday<\/strong> on turnover of EGP 1.7 bn (25.6% above the 90-day average). Regional investors were net buyers. The index is down -20.9% YTD.<\/p><p><strong>In the green: <\/strong>Emaar Misr (+5.2%), Egyptian Iron &amp; Steel (+3.4%) and Eastern Company (+2.5%).<\/p><p><strong>In the red: <\/strong>Orascom Development (-3.6%), Heliopolis Housing (-1.6%) and Juhayna (-1.4%).<\/p><p><strong>Asian markets are mixed in early trading this morning<\/strong> and futures suggest both Europe and Wall Street could start the day in the red.<\/p><table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>EGX30 <\/strong><\/td>\n<td>11,041<\/td>\n<td>+0.9% (YTD: -20.9%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>USD (CBE)<\/strong><\/td>\n<td>Buy 15.60<\/td>\n<td>Sell 15.70<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>USD at CIB<\/strong><\/td>\n<td>Buy 15.61<\/td>\n<td>Sell 15.71<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/none.png?w=14&#038;ssl=1\" alt=\"None\" ><\/td>\n<td><strong>Interest rates CBE<\/strong><\/td>\n<td>8.25% deposit<\/td>\n<td>9.25% lending<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\" ><\/td>\n<td><strong>Tadawul<\/strong><\/td>\n<td>8,722<\/td>\n<td>-0.29% (YTD: +3.97%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\" ><\/td>\n<td><strong>ADX<\/strong><\/td>\n<td>4,964<\/td>\n<td>-0.42% (YTD: -2.18%)<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>DFM<\/strong><\/td>\n<td>2,419<\/td>\n<td>+0.82% (YTD: -12.49%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>S&amp;P 500<\/strong><\/td>\n<td>3,662<\/td>\n<td>+1.13% (YTD: +13.36%)<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>FTSE 100<\/strong><\/td>\n<td>6,384<\/td>\n<td>+1.84% (YTD: -15.35%)<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\" ><\/td>\n<td><strong>Brent crude<\/strong><\/td>\n<td>USD 47.35<\/td>\n<td>-1.11%<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>Natural gas <\/strong>(Nymex)<\/td>\n<td>USD 2.88<\/td>\n<td>+0.03%<\/td>\n<\/tr>\n<tr>\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/positive.png?w=14&#038;ssl=1\" alt=\"Up\" ><\/td>\n<td><strong>Gold<\/strong><\/td>\n<td>USD 1,818.60<\/td>\n<td>+2.12%<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td><img data-recalc-dims=\"1\" decoding=\"async\" class=\"market-arrow\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/negative.png?w=14&#038;ssl=1\" alt=\"Down\" ><\/td>\n<td><strong>BTC<\/strong><\/td>\n<td>USD 19,072<\/td>\n<td>-2.09%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><p><strong>IPO WATCH- Airbnb is eyeing a c. USD 35 bn valuation when it lists on the<\/strong><strong> Nasdaq on 10 December<\/strong>, in what <a href=\"https:\/\/www.reuters.com\/article\/us-airbnb-ipo\/airbnb-aims-for-up-to-35-billion-valuation-in-long-awaited-ipo-idUSKBN28B5CC\">Reuters<\/a> is calling a \u201cstunning recovery\u201d for a company battered by the outbreak of the pandemic earlier this year.<\/p><p><strong>Th<\/strong><strong>e US won\u2019t be jettisoning the \u201cworld\u2019s important number\u201d until 2023.<\/strong> US banks will continue to use <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ec99e99-36e9-44b0-9b40-dc68b2d0c1c8\">the Libor rate<\/a> until mid-2023, giving the country an extra 18 months to transition from the discredited benchmark, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-fed-libor\/key-dollar-libor-rates-get-18-month-stay-of-execution-idUSKBN28A1ZL\">Reuters<\/a> reports. The rest of the world will cease to use the interest rate \u2014 the benchmark for some USD 350 tn in debt \u2014 at the end of 2021 following revelations in 2012 that some of the world\u2019s largest banks had <a href=\"https:\/\/www.cfr.org\/backgrounder\/understanding-libor-scandal\">colluded to rig the rate<\/a> for almost a decade.<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567662\" 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=\"567662\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/around-the-world-on-2-december-2020\/\">\r\n                            Around the world on 2 December 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\/12\/02\/around-the-world-on-2-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/around-the-world-on-2-december-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/around-the-world-on-2-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Around the world on 2 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/around-the-world-on-2-december-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/around-the-world-on-2-december-2020\/&title=Around the world on 2 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Around+the+world+on+2+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Faround-the-world-on-2-december-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\/12\/02\/around-the-world-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/50.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567663\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/around-the-world-on-2-december-2020\/50-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/50.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"50.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/50.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/50.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567662\" class=\"content-area-description single-story post-567662 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-bahrain tag-enterpriseam tag-france tag-iran tag-nuclear-energy tag-qatar tag-rania-al-mashat tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>China\u2019s robotic lunar probe Chang'e-5 mission touched down on the moon\u2019s <\/strong><strong>surface on Tuesday.<\/strong> It will spend a few days exploring its surroundings and collecting surface materials to bring back home, the <a href=\"https:\/\/www.bbc.com\/news\/science-environment-55148998\">BBC<\/a> reports. The plan is to pick up around 2kg of regolith (\u201csoil\u201d) and offload the samples onto an orbiting vessel to return them to Earth.<\/p>\n<p><strong>Iran could bar international inspections of its nuclear facilities<\/strong> if Tehran\u2019s lawmakers pass legislation that would require the US to lift sanctions to allow the inspections to resume, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-01\/iran-moves-ahead-on-bill-that-could-end-nuclear-inspections\">Bloomberg<\/a> reports.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>IN DIPLOMACY- Egypt and Saudi Arabia have voiced support for the <\/strong><strong>establishment of Palestinian state based on the 1967 borders<\/strong> and with East Jerusalem as its capital, in <a href=\"https:\/\/bit.ly\/2VoKbWN\">a joint statement<\/a> following a meeting between Sameh Shoukry and Saudi FM Prince Faisal bin Farhan Al-Saud in Riyadh. The two countries also stressed the importance of ensuring maritime freedom in the Gulf, Bab El Mandeb strait, and the Red Sea, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN28B60Q\">Reuters<\/a> reports, citing a statement carried on Saudi state TV.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/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\/nuclear-energy\/\">nuclear energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"567664\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">15<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/\"> \r\n                            What impact has covid-19 had on Egypt\u2019s shared office space industry?<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What impact has covid-19 had on Egypt\u2019s shared office space industry?&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/&title=What impact has covid-19 had on Egypt\u2019s shared office space industry?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+impact+has+covid-19+had+on+Egypt%E2%80%99s+shared+office+space+industry%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fwhat-impact-has-covid-19-had-on-egypts-shared-office-space-industry%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/51.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"567665\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/what-impact-has-covid-19-had-on-egypts-shared-office-space-industry\/51-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/51.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"51.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/51.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/51.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-567664\" class=\"content-area-description post-567664 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-bechtel tag-covid-19 tag-elsewedy-electric tag-enterprise-hardhat tag-enterpriseam tag-hassan-allam-holding tag-high-speed-internet tag-infrastructure tag-jica tag-makanak tag-mqr tag-shared-office-space tag-startups tag-the-hive tag-toyota-tsusho tag-transport tag-uber-eats wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>What impact has covid-19 had on Egypt\u2019s shared office space industry? <\/strong>Co-working and shared office spaces have grown rapidly since their first appearance in Egypt in 2010. Initially a cost-effective service for freelancers or early-stage startups, they\u2019ve become larger and more diverse, many now also targeting multinationals and large homegrown companies. They\u2019ve been instrumental in helping SMEs overcome <a href=\"https:\/\/enterprise.press\/hardhats\/can-smes-get-around-expensive-office-space\/\">rising office rental costs<\/a> in commercial real estate, <a href=\"https:\/\/enterprise.press\/hardhats\/can-smes-get-around-expensive-office-space-pt-ii\/\">we reported previously<\/a>.<\/p>\n<p><strong>But how have they fared during covid-19\u2019s social distancing and economic precarity?<\/strong> Many took a financial hit, but strategic adaptation allowed the largest to recover. And long-term, the sector may become more competitive, offering better services, some argue.<\/p>\n<p><strong>Most shared office spaces saw reduced revenue between April and June:<\/strong> At the height of the first covid-19 wave, many co-working and shared office spaces took sizable financial hits. \u201cWe didn't see any renewals, new customers or new members, so we saw an 80% reduction before starting to recover in July,\u201d says <a href=\"https:\/\/www.almaqarr.com\/en\">MQR<\/a> co-founder Sherif Ashraf. <a href=\"https:\/\/www.makanakoffice.com\/\">Makanak<\/a> saw an estimated 50% reduction in revenue during this time, says founder Moheb Zaki.<\/p>\n<p><strong>The extent of the financial hit varied depending on factors including the business model:<\/strong> Many startups struggled to pay rent, but the impact on the <a href=\"https:\/\/thegreekcampus.com\/\">Greek Campus<\/a> of losing a large company like <a href=\"https:\/\/www.ubereats.com\/\">Uber Eats<\/a> (which <a href=\"https:\/\/www.uber.com\/en-EG\/newsroom\/uber-eats-in-egypt\/\">stopped operating in Egypt<\/a> in May) was harder to mitigate than losing several smaller startups, says community manager Muhammed Elamir. High demand for Greek Campus office space saw a pipeline of smaller startups ready to take the place of those that had to leave, he adds. <a href=\"https:\/\/www.hive-offices.com\/\">The Hive<\/a> saw a minimal impact on its revenue, says general manager Seif Elkady. The Hive\u2019s clients \u2014 being, in his words, \u201cmature businesses\u201d \u2014 might have more of a financial cushion than others, enabling them to withstand periods of economic uncertainty. \u201cStill, businesses exist to make profit. So if they didn\u2019t see the value in our service, they wouldn\u2019t have continued with us,\u201d he says.<\/p>\n<p><strong>Some companies withstood extra financial burdens to remain operational: <\/strong>During a meeting to discuss emergency covid-19 measures, Makanak staff proposed deducting 40% from their own salaries for 3 months, says Zaki. \u201cSo I deducted 60% from my own salary, and we reduced client invoices by 33% for this period, to offer extra support.\u201d Some shared office spaces allowed deferred payments or offered additional services at a lower rate, say sources.<\/p>\n<p><strong>Extra sanitation and safety measures remain in place: <\/strong>Clients generally adhere to new safety protocols, including wearing masks and limiting numbers in communal spaces, say sources. Regular deep cleaning is ongoing. The Greek Campus recently opened a clinic, with a GP available four days a week, to advise on general medical issues, with a particular focus on covid-19 prevention and treatment, says Elamir.<\/p>\n<p><strong>Weathering the storm required reducing costs and diversifying services:<\/strong> Makanak permanently closed two of its Maadi co-working offices to minimize overall losses, but opened a new facility in a prime location in Alexandria, where it transferred assets like air conditioners, furniture and other equipment from the Maadi branches, says Zaki. It\u2019s now offering facility management services to other companies to diversify its revenue stream, he says. Meanwhile, MQR partially (and temporarily) closed two of its four branches at the height of the covid-19 first wave, says Ashraf. \u201cTwo branches stayed open only for our members, who rent office space. We didn\u2019t allow any other visitors, or host any events,\u201d he says. The branches that remained fully open were those with particularly good ventilation, including their Red Sea branch which has plenty of open air space, he adds.<\/p>\n<p><strong>Still, covid\u2019s short-term impact includes some expansion delays: <\/strong>Both Makanak and MQR have seen delays of several months to their expansion plans, say Zaki and Ashraf. The pandemic has affected the timeline, but not the plans, stresses Ashraf. Makanak had been planning to grow from 12 to 20 branches in 2020 \u2014 an ambitious target that couldn\u2019t be reached, says Zaki. Still, it opened new branches in Alexandria and New Cairo, and a branch in the New Administrative Capital is on track to open in 2023, he adds.<\/p>\n<p><strong>But covid also highlighted the value of the coworking or shared office space sector:<\/strong> The sector was already appealing because of the flexibility it offers to companies to expand, downsize and easily work from different locations, says Elkady. Covid has enhanced this value proposition, he believes: \u201cWe saw that in times of crisis, a large office space can become very unproductive and overwhelming in terms of running costs. So clients will want more flexible solutions.\u201d<\/p>\n<p><strong>Meanwhile, changes to the sector itself are enhancing its competitiveness in Egypt: <\/strong>The knock-on effect of covid\u2019s economic hit means many smaller co-working or shared office spaces can\u2019t sustain their operations, prompting a wave of M&As, say sources. Long-term, the number of operators will decrease, and those that continue will reap the benefit, says Elkady. There will be less diversity in the market, but companies that merge will be stronger and more able to compete with established players like Makanak, says Zaki.<\/p>\n<p><strong>But is there a chance larger companies will squeeze SMEs out of shared offices and co-working spaces, as they did with standard office space? No,<\/strong> say sources. Large companies and multinationals generally invest a lot of money in their offices, so while covid-19 may make short periods of remote work standard practice, the pandemic is highly unlikely to result in a mass exodus or downsizing of large office buildings, says Elamir.<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Bechtel<\/strong> is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c153c096-6916-43f7-b79d-f4ae3916372c\">closing in<\/a> on the award for the USD 5 bn Cairo Metro Line 6 master contract from the Transport Ministry.<\/li>\n<li>Hassan Allam Construction holds 25% of the first phase Cairo Metro Line 4 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f798c222-ca91-4367-a9a3-e764de8c0e82\">construction contract<\/a>, alongside Arab Contractors, Petrojet, and Concord.<\/li>\n<li><strong>Control center refurbs + almost 1 mn smart meters, courtesy of JICA:<\/strong> The Japan International Cooperation Agency (JICA) will <a href=\"https:\/\/bit.ly\/3moG2ht\">upgrade four electricity control centers<\/a> and install some 965k smart meters if the Electricity Ministry signs off on a planned USD 226 mn contract.<\/li>\n<li><strong>More smart meters:<\/strong> An Elsewedy Electric and Toyota Tsusho consortium <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff88f63d-33f9-43c0-9e61-72abb42c62f4\">signed a EGP 1.46 bn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff88f63d-33f9-43c0-9e61-72abb42c62f4\">contract<\/a> with the North Cairo Electricity Distribution Company to supply and install smart electricity meters.<\/li>\n<li><strong>A step towards nationwide high-speed internet:<\/strong> Two ground stations to receive signals from Egypt\u2019s first communications satellite \u2014 <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/27\/last-nights-talk-shows-for-wednesday-27-november-2019-7151\/\">the Tiba-1 launched last year<\/a> \u2014 <a href=\"https:\/\/bit.ly\/2JiaPxZ\">will be completed<\/a> during 1H2021.<\/li>\n<li><strong>Interest abroad in Dakhila port:<\/strong> A major international company has expressed interest in investing in a container terminal at Dakhila port, south of Alexandria, <a href=\"https:\/\/bit.ly\/3o9MOIt\">Transport Minister Kamel El Wazir<\/a> said without disclosing additional details.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bechtel\/\">Bechtel<\/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\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/high-speed-internet\/\">high-speed internet<\/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\/jica\/\">JICA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/makanak\/\">Makanak<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mqr\/\">MQR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shared-office-space\/\">Shared office space<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-hive\/\">The Hive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/toyota-tsusho\/\">Toyota Tsusho<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uber-eats\/\">Uber Eats<\/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=\"567666\" 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=\"567666\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">17<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/\">\r\n                            Word of the Year award goes to its rightful owner: pandemic                        <\/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\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/\" 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\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/')\">\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\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/\">\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=Word of the Year award goes to its rightful owner: pandemic&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/\">\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\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/&title=Word of the Year award goes to its rightful owner: pandemic\">\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=Word+of+the+Year+award+goes+to+its+rightful+owner%3A+pandemic+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F02%2Fword-of-the-year-award-goes-to-its-rightful-owner-pandemic%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\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/52.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567667\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/02\/word-of-the-year-award-goes-to-its-rightful-owner-pandemic\/52-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/52.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"52.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/52.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/52.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567666\" class=\"content-area-description single-story post-567666 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam tag-on-your-way-out tag-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Merriam-Webster\u2019s Word of the Year award went to its rightful owner: <\/strong><strong>pandemic. <\/strong>Once an obscure term that appears most in English textbooks on Greek and Latin roots, \u201cpandemic\u201d this year eclipsed every other word in online dictionary searches, <a href=\"https:\/\/www.merriam-webster.com\/words-at-play\/word-of-the-year\/pandemic\">the publishing company said<\/a>. The number of searches for the word skyrocketed by 115,806% y-o-y on 11 March.<\/p>\n<p><strong>Other words that defined everyday discourse this year include: <\/strong>Coronavirus, quarantine, asymptomatic, defund, mamba (following the tragic death of \u201cthe Black Mamba\" Kobe Bryant), and malarkey (a word often used by US President-Elect Joe Biden).<\/p>\n<p><strong>Nasr-era defence minister \u064d<\/strong><strong><a href=\"https:\/\/bit.ly\/3mtfP1p\">Shams Badran has died<\/a><\/strong><strong> in the UK at the age 91.<\/strong> Jailed in 1967 for torturing members of the Muslim Brotherhood, he lived the rest of his lift in self-imposed exile in the UK after being pardoned by then president Anwar Sadat in 1974.<\/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\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567668\" 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\/12\/02\/calendar-on-2-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567668\" class=\"content-area-description single-story post-567668 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>December: Egypt-US Trade and Investment Framework Agreement (TIFA) talks.<\/p>\n<p>December: <a href=\"https:\/\/bit.ly\/3pMnWZ1\">A meeting<\/a> to finalize membership and trading rules governing Egypt\u2019s Commodities Exchange (Egycomex).<\/p>\n<p>December: The Egyptian-Iraqi Joint Higher Committee will meet.<\/p>\n<p>2 December (Wednesday): <a href=\"https:\/\/bit.ly\/37jNpQU\">Egypt Economic Summit<\/a>, St. Regis Hotel, Cairo.<\/p>\n<p>4 December (Friday): Cairo Art Fair kicks off and runs through 31 January 2021.<\/p>\n<p>7 December: Former Civil Aviation Minister Ahmed Shafik faces <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2078662\">trial<\/a> over embezzlement allegations.<\/p>\n<p>7-8 December (Monday-Tuesday): Runoffs for parliamentary elections in Cairo, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/p>\n<p>9-10 December (Wednesday-Thursday): <a href=\"http:\/\/www.biznexpo.com\/\">BiznEx<\/a>, the international business expo in Egypt, Nile Ritz Carlton Hotel, Cairo, Egypt.<\/p>\n<p>14 December (Monday): Final results will be announced for Parliamentary elections held in Cairo, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/p>\n<p>15 December (Tuesday): House of Representatives reconvenes from recess.<\/p>\n<p>15-16 December (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>24 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>25 December (Friday): Western Christmas.<\/p>\n<p>31 December (Thursday): Egypt-UK post-Brexit trade agreement <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/393664\/Business\/Economy\/EgyptUK-trade-agreement-takes-effect--December-UK-.aspx\">to take effect<\/a>.<\/p>\n<p>31 December (Thursday): <a href=\"https:\/\/bit.ly\/338zJHg\">Deadline<\/a> for car owners to comply with traffic regulations to install a RFID electronic sticker on their cars.<\/p>\n<p>1Q2021: The Seventh Annual <a href=\"https:\/\/www.egyptautomotive.com\/1168552\">Egypt Automotive Summit<\/a> will be held<\/p>\n<p>1H2021: Egypt\u2019s Commodities Exchange (<a href=\"http:\/\/www.egycomex.com\/\">Egycomex<\/a>) will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">begin trading<\/a>.<\/p>\n<p>1 January 2021 (Friday): New Year\u2019s Day, national holiday.<\/p>\n<p>7 January 2021 (Thursday): Coptic Christmas, national holiday.<\/p>\n<p>13-31 January (Wednesday-Sunday): Egypt will host the 2021 <a href=\"https:\/\/www.handballegypt2021.com\/\">Men\u2019s Handball World Championship<\/a> at the Giza Pyramids.<\/p>\n<p>17 January 2021 (Sunday): A court will hold a <a href=\"https:\/\/ent.news\/2020\/11\/%D8%A8%D9%88%D8%B1%D8%AA%D9%88-%D8%A8%D9%8A%D8%A7%D9%86-23-11-2020.pdf\">postponed hearing<\/a> to look into an appeal by Syria\u2019s Anataradous against an arbitration ruling in favor of Amer Group and Amer Syria in case 445 of 2019.<\/p>\n<p>25 January 2021 (Monday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>25-29 January 2021 (Monday-Friday): The World Economic Forum\u2019s \u201cDavos Dialogues\u201d will take place virtually.<\/p>\n<p>26-28 January (Tuesday-Thursday): Future Investment Initiative, Riyadh, Saudi Arabia.<\/p>\n<p>28 January 2021 (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>4 February 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>6-18 February (Saturday-Thursday): Mid-year school break.<\/p>\n<p>18 March 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>12 April 2021 (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April 2021 (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April 2021 (Thursday): National holiday in observance of Sinai Liberation Day.<\/p>\n<p>29 April 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>3 May 2021 (Monday): Sham El Nessim.<\/p>\n<p>6 May 2021 (Thursday): National holiday in observance of Sham El Nessim.<\/p>\n<p>12-15 May 2021 (Wednesday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>18-21 May 2021 (Tuesday-Friday): The World Economic Forum\u2019s annual meeting will be held under the theme of \u201cThe Great Reset\u201d in Lucerne-B\u00fcrgenstock, Switzerland<\/p>\n<p>31 May-2 June 2021 (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>30 May-15 June 2021 (Wednesday-Thursday): <a href=\"https:\/\/bit.ly\/398Prpy\">Cairo International Book Fair<\/a>.<\/p>\n<p>1 June 2021 (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>10 June 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>24 June 2021 (Thursday): End of the 2020-2021 academic year.<\/p>\n<p>26-29 June 2021 (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center<\/p>\n<p>30 June- 15 July 2021: National Book Fair.<\/p>\n<p>22 July 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 July-3 August 2021 (Thursday-Monday): Eid Al Adha, national holiday (TBC).<\/p>\n<p>1 October 2021-31 March 2022 (Friday-Thursday): Postponed <a href=\"https:\/\/www.expo2020dubai.com\">Expo 2020 Dubai<\/a>.<\/p>\n<p>December 2021: <a href=\"https:\/\/www.egypttoday.com\/Article\/1\/94796\/9th-UN-Convention-Against-Corruption-conference-to-be-held-in\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/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":567637,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-567636","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5983a2dc-7293-4834-bb7c-8c72683a5284","teaser":"","photo_url":"https:\/\/ent.news\/2020\/12\/40.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>Egypt\u2019s banks to remain profitable even if bad loans rise - 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\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s banks to remain profitable even if bad loans rise\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T06:00:45+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.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\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/\",\"name\":\"Egypt\u2019s banks to remain profitable even if bad loans rise - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2020-12-02T04:04:26+00:00\",\"dateModified\":\"2025-12-16T06:00:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Egypt\u2019s banks to remain profitable even if bad loans rise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt\u2019s banks to remain profitable even if bad loans rise - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/","og_locale":"en_US","og_type":"article","og_title":"Egypt\u2019s banks to remain profitable even if bad loans rise","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T06:00:45+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/","name":"Egypt\u2019s banks to remain profitable even if bad loans rise - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1","datePublished":"2020-12-02T04:04:26+00:00","dateModified":"2025-12-16T06:00:45+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/40.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypts-banks-to-remain-profitable-even-if-bad-loans-rise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Egypt\u2019s banks to remain profitable even if bad loans rise"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567636\/revisions"}],"predecessor-version":[{"id":567678,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567636\/revisions\/567678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567637"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}