{"id":567721,"date":"2020-12-06T04:30:14","date_gmt":"2020-12-06T04:30:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=567721"},"modified":"2025-12-16T06:02:49","modified_gmt":"2025-12-16T06:02:49","slug":"private-sector-growth-slowed-in-november-pmi-shows","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/private-sector-growth-slowed-in-november-pmi-shows\/","title":{"rendered":"Private sector growth slowed in November, PMI shows"},"content":{"rendered":"<section id=\"567723\" 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=\"567723\">\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\/06\/what-were-tracking-on-6-december-2020\/\">\r\n                            What we\u2019re tracking on 6 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\/06\/what-were-tracking-on-6-december-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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tracking on 6 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/what-were-tracking-on-6-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\/06\/what-were-tracking-on-6-december-2020\/&title=What we\u2019re tracking on 6 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 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category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-bahrain tag-brexit tag-covid-19 tag-emmanuel-macron tag-enterpriseam tag-infrastructure tag-mohammed-bin-abdulrahman-al-thani tag-qatar tag-saudi-arabia tag-uae tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, nice people, and welcome to another workweek. <\/strong>We have a packed issue this morning, so let\u2019s get right to it.<\/p><p><strong>It remains all covid, all the time on the world\u2019s front pages <\/strong>as covid sweeps the United States and Europe and Pfizer says it is <a href=\"https:\/\/in.reuters.com\/article\/us-health-coronavirus-pfizer-vaccine\/pfizer-supply-chain-challenges-led-to-slashing-covid-19-vaccine-production-target-wsj-idUSKBN28D3B9\">cutting by 50% its distribution target<\/a> for its vaccine through the end of this year thanks to logistics challenges.<\/p><p><strong>The scarce supply of vaccines is making the race to vaccinate populations a <\/strong><strong>worldwide competition: <\/strong>Governments around the world are scrambling to secure shots as the number of doses available from Western pharma companies remains limited, likely leading to what <a href=\"https:\/\/www.wsj.com\/articles\/race-to-vaccinate-world-against-covid-19-intensifies-11607111607?mod=searchresults_pos2&amp;page=1\">the Wall Street Journal<\/a> calls a \u201cfragmentary vaccination drive likely to proceed at vastly different speeds,\u201d leaving most of the world\u2019s population without access to a jab for months to come.<\/p><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3qweuJj\">reported<\/a><\/strong><strong> 431 new covid-19 infections yesterday<\/strong>, up from 427 the day before. Egypt has now disclosed a total of 118,014 confirmed cases of covid-19. The ministry also reported 18 new deaths, bringing the country\u2019s total death toll to 6,750.<\/p><p>(While we\u2019re on the subject of covid: <strong>Yes, you\u2019re going to <\/strong><strong><a href=\"https:\/\/fortune.com\/2020\/12\/04\/covid-19-vaccine-mandatory-required-airlines-to-fly\/\">need to be vaccinated<\/a><\/strong><strong> if you want <\/strong><strong>to travel. <\/strong>And before we switch subjects: <a href=\"https:\/\/www.nytimes.com\/2020\/12\/04\/upshot\/epidemiologists-virus-survey-.html\">This is how 700 epidemiologists are living now<\/a> and what they think is next. Clearly, ain\u2019t none of them living in Omm El Donia.)<\/p><p><strong>The EU has agreed to return to the negotiating table one last time to hammer out a Brexit<\/strong><strong> agreement with the UK<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/592dd543-3c9c-4a95-9b30-121520f33bce\">Financial Times<\/a> reports. European Commission President Ursula von der Leyen and UK Prime Minister Boris Johnson are set to talk again tomorrow evening in an \u201celeventh hour push\u201d to reach a pact both sides are happy with.<\/p><p><strong>The UK has had better luck with Egypt, as the two countries signed yesterday a<\/strong><strong> post-Brexit trade agreement<\/strong>, according to a <a href=\"https:\/\/bit.ly\/3mMqp3B\">Foreign Ministry statement<\/a>. The trade continuity agreement, which comes into effect on 1 January 2021, will liberalize trade on industrial products, as well as the majority of commodities and food items including produce and fish, the statement says.<\/p><p><strong>REGIONALLY- Saudi Arabia and Qatar are signaling they may be willing to throw in the <\/strong><strong>towel on the Great Qatar Smackdown. <\/strong>We\u2019d still be kind of surprised to see this happen before Joe Biden occupies the White House, but the story is getting plenty of traction in the global business press (<a href=\"https:\/\/www.reuters.com\/article\/idUSKBN28E12M\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-04\/qatar-foreign-minister-says-there-s-movement-to-end-gulf-rift?sref=mmeFTDW1\">Bloomberg<\/a>).<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- President Abdel Fattah El Sisi is in France<\/strong> for a two-day diplomatic visit that will include talks with French president Emmanuel Macron, according to Macron\u2019s <a href=\"https:\/\/www.elysee.fr\/en\/diary#today\">agenda<\/a>.<\/p><p style=\"font-size: 18px; font-weight: bold;\">CIRCLE YOUR CALENDAR-<\/p><p><strong>The Egyptian-American Enterprise Fund is hosting a webinar on the future of <\/strong><strong>Egypt\u2019s private sector <\/strong>at 11am EST (6pm CLT) on Tuesday, 8 December. Speakers include our friends Ashraf Sabry (Fawry) and Magda Habib (Dawi Clinics). You can register for the event <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_dVnOch4rS7uPP80AEXg8yA\">here<\/a> and check out the flyer <a href=\"https:\/\/ent.news\/2020\/12\/EAEF-Webinar-Flyer-FINAL.pdf\">here (pdf)<\/a>.<\/p><p><strong>Voters in Cairo head to the polls tomorrow <\/strong>to vote in runoffs for the House of Representatives. Polls will be open in 11 other governorates from Qalyubia to Sinai.<\/p><p><strong>Also Tuesday: Apple may still have \u201cone more thing\u201d <\/strong>for you to add to your Christmas wish list, <a href=\"https:\/\/www.macrumors.com\/2020\/12\/03\/applecare-memo-potential-hardware-announcement\/\">MacRumors<\/a> suggests. Maybe new earphones?<\/p><p><strong>Other key dates for your diary this month:<\/strong><\/p><ul>\n<li><strong>Foreign reserves<\/strong> figures for November should be out this week.<\/li>\n<li><strong>Inflation data<\/strong> for November will be released on Thursday, 10 December.<\/li>\n<li><strong>The CBE\u2019s Monetary Policy Committee<\/strong> will meet on 24 December to review interest rates.<\/li>\n<\/ul><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>\u00a0<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p>\u00a0<\/p><p><strong>MUST READ FOR CEOS &amp; IROs- Companies are changing their tone and vocabulary in earnings<\/strong><strong> calls to outsmart<\/strong><strong> hedge fund algorithms <\/strong>that are increasingly listening in, says the <a href=\"https:\/\/www.ft.com\/content\/ca086139-8a0f-4d36-a39d-409339227832\">Financial Times<\/a>\u2019 Robin Wigglesworth, who once covered MENA for the salmon-colored paper out of Dubai. While business leaders are increasingly aware of AI\u2019s ability to pick up on their verbal cues and are seeking training on how best to frame their reports, pundits say it\u2019s \u201cultimately futile\u201d to engage in these \u201clinguistic acrobatics\u201d in an attempt to outsmart the algorithms.<\/p><p><strong>Eldib &amp; Co<\/strong> has become the first Egypt-based law firm of which we\u2019re aware to open an office in China, announcing its new Shanghai outpost in <a href=\"https:\/\/eldib.com\/news\/inauguration-of-eldib-cos-office-in-shanghai-china\/\">a press release<\/a> on Thursday.<\/p><p><strong>From the Dept of Good News:<\/strong> Egypt\u2019s poverty rate decreased for the first time in 20 years in FY2019-2020. We have the rundown below.<\/p><p><strong>Don\u2019t [redact] off the photographer when she next shows up to shoot your corporate <\/strong><strong>portrait. <\/strong>Just ask retail boss Philip Green (whose empire is now <a href=\"https:\/\/www.reuters.com\/article\/us-debenhams-liquidation\/uk-retailer-debenhams-to-be-liquidated-idUSKBN28B4DT?il=0\">on the rocks<\/a> thanks to covid) <a href=\"https:\/\/twitter.com\/mrjakewalters\/status\/1334803707221995521?s=12\">how much he likes this shot.<\/a><\/p><p><strong>Want to beef up your TBR pile ahead of the holiday season?<\/strong> There are a handful of end-of-year roundups of the best books 2020 had to offer, whether you\u2019re looking to get some reading done before the year is out or if you\u2019re looking for present ideas for the holiday season. This beautifully illustrated <a href=\"https:\/\/www.nytimes.com\/interactive\/2020\/11\/25\/books\/gifts-for-book-lovers.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">NYT rundown<\/a> of the best books of the year suggests the gift of reading is the way to go. The reading recommendations span thrillers, music, cooking, historical fiction, sports, photography, Hollywood and the ambiguous-sounding otherworldly. The Financial Times also has its customary roundup of the best books <a href=\"https:\/\/www.ft.com\/booksof2020\">here<\/a>, while <a href=\"https:\/\/www.npr.org\/2020\/12\/04\/941982629\/maureen-corrigans-10-books-that-will-connect-you-in-a-socially-distant-year\">NPR\u2019s Maureen Corrigan<\/a> lists the 10 books that got her through the year. Oprah Magazine\u2019s <a href=\"https:\/\/www.oprahmag.com\/entertainment\/books\/a34659750\/best-books-of-2020\/\">end-of-year list<\/a> bears some resemblance to Corrigan\u2019s similar taste, with several titles appearing on both.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/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\/brexit\/\">Brexit<\/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\/emmanuel-macron\/\">Emmanuel Macron<\/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\/mohammed-bin-abdulrahman-al-thani\/\">Mohammed Bin Abdulrahman Al Thani<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567724\" 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=\"567724\">\r\n            \r\n            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       \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/private-sector-growth-slowed-in-november-pmi-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/88.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567726\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/private-sector-growth-slowed-in-november-pmi-shows\/88-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/88.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"88.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/88.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/88.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567725\" class=\"content-area-description single-story post-567725 post type-post status-publish format-standard has-post-thumbnail hentry category-sentiment tag-economy tag-employment tag-enterpriseam tag-gcc tag-pmi tag-sentiment 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>Growth in Egypt\u2019s non-oil private sector slowed in November<\/strong> and business confidence fell to a record low amid fears of a resurgence of covid-19, according to <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/f68736bfaf844d2db1b1718cfa8318a8\">IHS Markit purchasing managers\u2019 index (PMI) figures (pdf)<\/a>. The PMI gauge remained above the 50.0 mark which separates expansion from contraction for the third consecutive month, but slowed to 50.9 from a near- six-year high of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be089ca9-c71c-4933-b9ea-257fde17bc78\">51.4 in October<\/a>, as growth in output and new business weakened.<\/p>\n<p><strong>But keep it in context: The private sector still <\/strong><em>grew<\/em>, just at a slightly slower pace.<\/p>\n<p><strong>Fears of Lockdown 2.0 saw only 12% of respondents forecasting growth: <\/strong>They\u2019re worried that stricter lockdown measures in neighboring European countries could spill over into Egypt and hamper the recovery. That has sent confidence in business activity over the coming 12 months to its lowest since the PMI survey began in April 2011, with only 12% of respondents expecting growth.<\/p>\n<p><strong>As a result, private sector companies continued to cut jobs<\/strong>, reducing employment levels for the thirteenth month in a row. The rate of job cuts, however, was the slowest seen throughout this period, thanks to increasing new orders and backlogs.<\/p>\n<p><strong>Weaker output and new business suggests a faltering recovery:<\/strong> Despite a strong increase in sales, growth of new business slowed, export volumes softened and output weakened from October. \u201cWeaker rises in output and new business suggested a tail-off in the economic recovery,\u201d said IHS Markit economist David Owen.<\/p>\n<p><strong>Supplier performance provided one bright spot, setting a joint-record<\/strong> indicating \u201ca strengthening market environment,\u201d IHS Markit said. Delivery times were cut at a rate that was \u201cthe joint-fastest\u201d in the survey\u2019s history. This was evidence of \u201ca loosening of supply chain pressures after the global lockdown.\u201d<\/p>\n<p><strong>Input purchases, and inventory levels all grew in November<\/strong>, with stock building speeding up to its fastest rate since September 2019. This reflected increased demand, but also expectations of input price inflation.<\/p>\n<p><strong>Meanwhile in the GCC- <\/strong><strong>Saudi Arabia\u2019s non-oil private sector showed signs of mounting a strong recovery in November<\/strong>, with its PMI gauge rising to a ten-month high of 54.7 in November from 51 in October, IHS Markit <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/b278be8c111047bc9daaed51efc27289\">said (pdf)<\/a>. PMI figures for the UAE are due out on Tuesday. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-03\/saudi-business-conditions-hit-10-month-high-as-sales-jobs-climb?sref=mmeFTDW1\">Bloomberg<\/a> has more on Egypt and Saudi\u2019s figures.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sentiment\/\">SENTIMENT<\/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=\"567727\" 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=\"567727\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/\">\r\n                            Lorax Capital acquires \u201csignificant\u201d minority stake in Dsquares in first investment by its new fund                        <\/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\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/\" 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\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/')\">\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\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/\">\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=Lorax Capital acquires \u201csignificant\u201d minority stake in Dsquares in first investment by its new fund&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/\">\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\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/&title=Lorax Capital acquires \u201csignificant\u201d minority stake in Dsquares in first investment by its new fund\">\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=Lorax+Capital+acquires+%E2%80%9Csignificant%E2%80%9D+minority+stake+in+Dsquares+in+first+investment+by+its+new+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Florax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund%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\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/91.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567728\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/lorax-capital-acquires-significant-minority-stake-in-dsquares-in-first-investment-by-its-new-fund\/91-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/91.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"91.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/91.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/91.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567727\" class=\"content-area-description single-story post-567727 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-dsquares tag-enterpriseam tag-ezdehar tag-ma-watch tag-private-equity tag-raya-holding tag-retail 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><a href=\"http:\/\/loraxcapitalpartners.com\/\">Lorax Capital Partners<\/a><\/strong><strong> has acquired a \u201csignificant\u201d minority stake in loyalty <\/strong><strong>services provider <\/strong><strong><a href=\"https:\/\/www.dsquares.com\/\">Dsquares<\/a><\/strong> through its LCP Fund II, the private equity outfit said in <a href=\"https:\/\/ent.news\/2020\/12\/Dsquares_LCP_Fund_II_Press_Release_English.pdf\">a statement (pdf)<\/a>, without specifying the size of the stake or the value of the investment. The acquisition includes Ezdehar Egypt Mid-Cap Fund\u2019s 22.5% stake, which Lorax Capital <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f75ca025-607b-438a-9de9-a304df9cce1f\">was reported<\/a> to be in talks for back in October. The bulk of the investment came through a capital increase which the fund says will be used to up-scale Dsquares\u2019 new business lines and expand the company\u2019s footprint in Egypt and abroad.<\/p>\n<p><strong>The investment is the first Lorax has made since closing its LCP Fund II. <\/strong>Lorax <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab09a5c-3eb7-4e13-8b56-95bf654e3c4b\">said in<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ab09a5c-3eb7-4e13-8b56-95bf654e3c4b\">October<\/a> it had raised USD 142 mn from international limited partners including EAEF, EBRD and the French Development Agency\u2019s Proparco for its new USD 250 mn SME-focused fund.<\/p>\n<p><strong>Who are the players? <\/strong>Lorax is an Egypt-focused private equity firm with LPs that include a who\u2019s who of development finance agencies and other international players. Lorax\u2019s portfolio also includes stakes in Sarwa Capital and Fawry as well as NIS Schools, among others. Dsquares is a Cairo-based startup that provides end-to-end loyalty, rewards and concierge services. Other Dsquares include our friends at Algebra Ventures, the EBRD and the IFC as well as Cisco.<\/p>\n<p><strong>But Enterprise, why do PE people talk funny? Like how does a \u201cclosed\u201d fund still make <\/strong><strong>an investment? <\/strong>Welcome to the weird (and frankly wonderful) language of private equity investors. Private equity <strong>general partners <\/strong>(Lorax in this case) will typically raise a <strong>fund <\/strong>(LCP II) from <strong>limited partners <\/strong>(EBRD, EAEF \u2014 normals would just call them \u201cinvestors\u201d). Those LPs make <strong>commitments <\/strong>to the fund, which hopes to reach a <strong>first close<\/strong> (to gin up some excitement) and then a <strong>final close <\/strong>(which just means \u201cI raised all the funding I want\u201d). The GP then <strong>calls the capital <\/strong>or <strong>draws down <\/strong>the commitments made by the LPs (\u201cGimme my funds, please\u201d) so that it can make investments in <strong>portfolio companies <\/strong>(Dsquares). We can talk some other morning about how the PE firms make returns.<\/p>\n<p><strong>Advisors:<\/strong> Al Tamimi Law Firm acted as the legal advisor to Lorax while Youssef & Partners provided legal advice to Dsquares.<\/p>\n<p><strong>OTHER M&A NEWS-<\/strong><\/p>\n<p><strong>Raya Holding is planning to acquire 100% of two subsidiaries of Saudi conglomerate <\/strong><strong>Alturki Holding<\/strong>, the company said in <a href=\"https:\/\/ent.news\/2020\/12\/Raya-Holding-news-05.12.2020.pdf\">a regulatory filing (pdf)<\/a>. The company might bring the targets, <a href=\"https:\/\/www.linkedin.com\/company\/united-retail-co-\">United Retail Company<\/a> (URC) and Itsalat International Egypt (<a href=\"https:\/\/www.i2-stores.com\/\">i2 Stores<\/a>), under the umbrella of its retail electronics arm, <a href=\"https:\/\/www.rayashop.com\/\">Raya Shop<\/a>. EGX-listed consumer stalwart <strong>MM Group tried to buy URC and i2 Stores<\/strong> back in <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/26\/mm-group-backs-out-of-acquiring-alturki-holding-subsidiaries\/\">2018<\/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\/dsquares\/\">Dsquares<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezdehar\/\">Ezdehar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/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=\"567729\" 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=\"567729\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/567729\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567729\" class=\"content-area-description single-story post-567729 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/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=\"567730\" 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=\"567730\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/\">\r\n                            I love the smell of corporate paper in the morning                        <\/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\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/\" 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\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/')\">\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\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/\">\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=I love the smell of corporate paper in the morning&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/\">\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\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/&title=I love the smell of corporate paper in the morning\">\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=I+love+the+smell+of+corporate+paper+in+the+morning+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fi-love-the-smell-of-corporate-paper-in-the-morning%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\/06\/i-love-the-smell-of-corporate-paper-in-the-morning\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567730\" class=\"content-area-description single-story post-567730 post type-post status-publish format-standard hentry category-debt-watch tag-capital-markets tag-corporate-bonds tag-debt-watch tag-efg-hermes tag-enterpriseam tag-investment-banking wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Hermes Securities Brokerage is set to soon resume a EGP 2 bn, two-year<\/strong> <strong>short-term corporate bond program<\/strong> it began last year, <a href=\"https:\/\/bit.ly\/2IeFDiI\">Al Mal<\/a> reports, citing informed sources. The EFG Hermes subsidiary will sell EGP 400 mn of one-year, unsecuritized corporate bonds, after having raised the same amount when it kicked off the program in December <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/22\/what-were-tracking-on-sunday-22-december-2019-8824\/\">last year<\/a>. The planned issuance, which the sources didn\u2019t give an exact date for, has already attracted interest from several institutional investors. Non-banking financial institutions and asset managers are expected to grab most of the sale as the company is looking to diversify its sources of funding away from banks, the sources said.<\/p>\n<p><strong>A busy year ahead:<\/strong> Following the upcoming sale, Hermes will have another EGP 1.2 bn of bonds to sell by December 2021 to complete the program.<\/p>\n<p><strong>Advisors: <\/strong>EFG Hermes is acting as financial advisor and main underwriter for the issuance. Zulficar & Partners was tapped as local counsel and KPMG Hazem Hassan as auditor. Banque Misr will be receiving subscription requests and acting as custodian.<\/p>\n<p><strong>Will this create a new market for short-term corporate paper in Egypt? <\/strong>The opening installment of the two-year program was the first sale of unsecuritized corporate bonds in Egypt since Orascom Construction completed a EGP 1.65 bn issuance and GB Auto completed a EGP 1 bn sale in 2010. Former Mobinil (now Orange) also sold EGP 1.5 bn in unsecuritized corporate bonds in 2009. The sale was helped by <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/04\/fra-sets-framework-for-short-term-bonds-instruments\/\">new rules<\/a> introduced by the Financial Regulatory Authority allowing joint-stock and limited liability companies, banks, financial institutions, and SMEs to sell short-term debt instruments with maturities of less than two years to retail and institutional investors.<\/p>\n<p><strong>OTHER DEBT NEWS-<\/strong> <strong>The National Bank of Egypt and HSBC are courting local<\/strong><strong> banks to participate in a USD 250 tranche of a loan for the UAE\u2019s Canal Sugar<\/strong> as part of a larger USD 650 mn syndicated loan, <a href=\"https:\/\/bit.ly\/36JxKv6\">Al Shorouk<\/a> reports. The tranche will be provided in its West Minya project. Of the remaining USD 400 mn, USD 250 mn will be provided by European banks, USD 50 mn from the Saudi Fund for Development, and USD 100 from the syndicate of six Egyptian banks that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f8d722e-639c-46e3-9d85-ba6e8958ba7b\">provided the company with the first installment of a EGP 4.4 bn loan<\/a> 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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corporate-bonds\/\">corporate bonds<\/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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-banking\/\">investment banking<\/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=\"567731\" 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=\"567731\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/raya-holding-to-anchor-new-vc-fund\/\">\r\n                            Raya Holding to anchor new VC fund                        <\/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\/06\/raya-holding-to-anchor-new-vc-fund\/\" 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\/06\/raya-holding-to-anchor-new-vc-fund\/')\">\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\/06\/raya-holding-to-anchor-new-vc-fund\/\">\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=Raya Holding to anchor new VC fund&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/raya-holding-to-anchor-new-vc-fund\/\">\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\/06\/raya-holding-to-anchor-new-vc-fund\/&title=Raya Holding to anchor new VC fund\">\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=Raya+Holding+to+anchor+new+VC+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fraya-holding-to-anchor-new-vc-fund%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\/06\/raya-holding-to-anchor-new-vc-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567731\" class=\"content-area-description single-story post-567731 post type-post status-publish format-standard hentry category-investment-watch tag-enterpriseam tag-fintech tag-investment-watch tag-raya-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Because everybody is either a startup or a VC, right? <\/strong>Raya Holding has earmarked EGP 100 mn to invest in a new fintech-focused venture capital fund as an anchor investor, according to a <a href=\"https:\/\/egx.com.eg\/downloads\/Bulletins\/254797_1.pdf\">disclosure to the bourse (pdf)<\/a>. The fund \u2014 which Raya says is being set up by an unnamed \u201cprominent fund manager\u201d \u2014 will also invest in regional startups in the e-commerce, e-learning and distribution sectors. The company provided no further details.<\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567732\" 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=\"567732\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/\">\r\n                            Techwear startup Sigma Fit raises undisclosed investment from Innlife, Kuwaiti investors                        <\/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\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/\" 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\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/')\">\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\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/\">\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=Techwear startup Sigma Fit raises undisclosed investment from Innlife, Kuwaiti investors&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/\">\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\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/&title=Techwear startup Sigma Fit raises undisclosed investment from Innlife, Kuwaiti investors\">\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=Techwear+startup+Sigma+Fit+raises+undisclosed+investment+from+Innlife%2C+Kuwaiti+investors+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Ftechwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors%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\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/92.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567733\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/techwear-startup-sigma-fit-raises-undisclosed-investment-from-innlife-kuwaiti-investors\/92-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/92.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"92.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/92.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/92.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567732\" class=\"content-area-description single-story post-567732 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-startup-watch tag-startups tag-technology tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Techwear startup <\/strong><strong><a href=\"https:\/\/sigmafiteg.com\/\">Sigma Fit<\/a><\/strong><strong> has raised an undisclosed investment<\/strong> from local investment firm <a href=\"https:\/\/www.facebook.com\/innlifeeg\/\">Innlife<\/a> and unnamed Kuwaiti investors, reports <a href=\"https:\/\/www.menabytes.com\/sigmafit-investment\/\">MenaBytes<\/a>. Sigma Fit will use the funding for R&D in fabrics, antiviral materials and clothing with embedded sensors, as well as augmented reality shopping. Founded in 2017, Sigma produces sportswear using hydrophobic technology which it claims allows them to be used for three weeks without needing to be washed. The company also offers antiviral clothing, and produced more than 50k medical garments for use in Egyptian hospitals during the initial wave of the pandemic.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567734\" 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=\"567734\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/\">\r\n                            Banks still face \u201cheightened\u201d medium-term threats thanks to covid \u2013Fitch                        <\/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\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/\" 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\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/')\">\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\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/\">\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=Banks still face \u201cheightened\u201d medium-term threats thanks to covid \u2013Fitch&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/\">\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\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/&title=Banks still face \u201cheightened\u201d medium-term threats thanks to covid \u2013Fitch\">\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=Banks+still+face+%E2%80%9Cheightened%E2%80%9D+medium-term+threats+thanks+to+covid+%E2%80%93Fitch+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fbanks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch%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\/06\/banks-still-face-heightened-medium-term-threats-thanks-to-covid-fitch\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567734\" class=\"content-area-description single-story post-567734 post type-post status-publish format-standard hentry category-banking tag-banking tag-banque-misr tag-enterpriseam tag-finance tag-fitch-ratings 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>Covid is the gift that keeps on giving for Egyptian banks, which will remain exposed to \u201cheightened\u201d medium-term threats<\/strong>, Fitch Ratings said in <a href=\"https:\/\/bit.ly\/33P8LF0\">its latest report<\/a> on state-owned Banque Misr\u2019s credit rating. The ratings agency still sees low near-term risks, especially as it relates to foreign currency funding and liquidity as the effects of the pandemic begin to taper off. With that in mind, Fitch has affirmed the long-term issuer default rating for Banque Misr at 'B+' with a stable outlook, a level equivalent to the agency\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c8213a9-cf6d-4b7b-b303-0dd13af835b8\">sovereign rating for Egypt<\/a>.<\/p>\n<p><strong>Egyptian banks now have stable liquidity positions after facing large capital outflows <\/strong>between March and April, during which foreign investors pulled bns in capital in response to the pandemic. The short-lived capital flight was cut short in May, with foreign portfolio investment <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3337ffd0-2efd-4abc-bc91-2adad57554aa\">more than doubling to USD 21.1 bn<\/a> as of mid-October.<\/p>\n<p><strong>But even as banks weather the short-term storm, the outlook post-covid remains sketchy.<\/strong> Banque Misr, which Fitch estimates represents 17% of total banking assets and 19% of deposits in the country, reflects wider issues in the banking sector.<\/p>\n<p><strong>Issues include<\/strong><strong> \u201cweak internal capital generation,\u201d<\/strong> with loans-to-deposit ratios well below standards and the performance of banks being closely linked to how well Egypt continues to bring in foreign currency. Major sources of foreign currency have come <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d28cf123-7ea0-43f5-a2cb-cb815e16b3db\">under pressure<\/a> due to the pandemic, which erased bns of tourism inflows and reduced Suez Canal revenues and remittances from Egyptian workers abroad.<\/p>\n<p><strong>A sustainable improvement in the banking sector would therefore require FX stability<\/strong>, but Fitch expects our widening current account deficit to continue putting pressure on foreign currency reserves, even if inflows recover. The ratings agency sees the current account deficit widening to 5% of GDP this year from 3.1% in 2019.<\/p>\n<p><strong>For now, banks remain sufficiently capitalized<\/strong>, with ample liquidity at hand to defend against a rise in defaults. Commercial banks managed to maintain this position despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/83ca7356-fbfb-46c9-8ef4-8aaa4a47e754\">ramping up loan loss provisions this year<\/a>, but profits are likely to come under pressure in the coming months as the rate of non-performing loans increases, the Financial Times <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b956e8a4-ac34-4421-88b1-78e3d6be08f1\">said last week<\/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\/banking\/\">banking<\/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\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/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=\"567735\" 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=\"567735\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/foreign-investors-flocked-to-egp-bonds-in-november\/\">\r\n                            Foreign investors flocked to EGP bonds 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\/06\/foreign-investors-flocked-to-egp-bonds-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\/06\/foreign-investors-flocked-to-egp-bonds-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\/06\/foreign-investors-flocked-to-egp-bonds-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=Foreign investors flocked to EGP bonds in November&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/foreign-investors-flocked-to-egp-bonds-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\/06\/foreign-investors-flocked-to-egp-bonds-in-november\/&title=Foreign investors flocked to EGP bonds 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=Foreign+investors+flocked+to+EGP+bonds+in+November+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fforeign-investors-flocked-to-egp-bonds-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\/06\/foreign-investors-flocked-to-egp-bonds-in-november\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/93.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567736\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/foreign-investors-flocked-to-egp-bonds-in-november\/93-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/93.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"93.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/93.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/93.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567735\" class=\"content-area-description single-story post-567735 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-budget-watch tag-covid-19 tag-economy tag-enterpriseam tag-imf tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Foreign investors continued to love Egyptian bonds in November:<\/strong> Foreign portfolio investment in EGP-denominated bonds rose to USD 23 bn by the end of November, up from EGP 21.1 bn six weeks earlier, Finance Minister Mohamed Maait <a href=\"https:\/\/bit.ly\/3qvCLzh\">said<\/a> during the Egypt Economic Summit last week. Hot money has been pouring back into the country since the world\u2019s central banks turned on the stimulus taps to stabilize the financial markets, which were in freefall in March as investors panicked over the escalating pandemic. Egyptian bonds have seen almost USD 13 bn in inflows since May, which marked the nadir of an intense sell-off that saw investors dump <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3337ffd0-2efd-4abc-bc91-2adad57554aa\">more than 60% of their holdings<\/a> of Egyptian debt amid record outflows from the broader emerging-market asset class.<\/p>\n<p><strong>Egypt will attempt to defy expectations and narrow its budget deficit this year:<\/strong> The distribution of effective covid-19 vaccines in 2021 and the easing of the pandemic will enable the Egyptian government to narrow the budget deficit to 7.5% of GDP by the end of June 2021 from 7.9% in FY2019-2020, Maait said during the conference, according to <a href=\"https:\/\/bit.ly\/33O4pOp\">Al Mal<\/a>.<\/p>\n<p><strong>Yes, but:<\/strong> It\u2019s difficult to say with any certainty when vaccines will begin to allow economies across the world to return to normal, especially in Egypt where we may still have to wait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15b7e2ba-1a99-424f-b573-749236a39c4c\">another six months for the shots<\/a> as cases steadily creep upo. Given that the government is seriously considering launching <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d60c5554-290a-4bb0-82f4-455263332c97\">a new round of fiscal stimulus<\/a> and that several of Egypt\u2019s key sources of foreign currency remain under pressure, we wouldn\u2019t be surprised to see the deficit overshoot Maait\u2019s latest target.<\/p>\n<p><strong>The consensus is that the budget deficit will widen this year:<\/strong> The IMF expects it to clock in at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe09d867-dea8-4f57-9725-da9e7b6b0ecb\">8.1%<\/a> Fitch sees <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c8213a9-cf6d-4b7b-b303-0dd13af835b8\">a 9.5% deficit<\/a> and HSBC forecasts it to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55afc922-0f20-4098-8c1f-79eb6f738cb4\">widen to 9%<\/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\/budget-watch\/\">budget watch<\/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\/economy\/\">economy<\/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\/investment-watch\/\">investment 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=\"567737\" 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=\"567737\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/\">\r\n                            Egypt\u2019s poverty rate falls for the first time in two decades                        <\/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\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/\" 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\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/')\">\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\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/\">\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 poverty rate falls for the first time in two decades&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/\">\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\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/&title=Egypt\u2019s poverty rate falls for the first time in two decades\">\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+poverty+rate+falls+for+the+first+time+in+two+decades+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fegypts-poverty-rate-falls-for-the-first-time-in-two-decades%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\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/94.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567738\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/egypts-poverty-rate-falls-for-the-first-time-in-two-decades\/94-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/94.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"94.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/94.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/94.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567737\" class=\"content-area-description single-story post-567737 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-capmas tag-economy tag-enterpriseam tag-planning-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egypt\u2019s poverty rate decreased for the first time in 20 years in FY2019-2020<\/strong>, according to Capmas\u2019 latest income and expenditure survey. The proportion of the population living below the poverty line \u2014 defined by the agency as anyone living on less than EGP 857 a month \u2014 fell to 29.7% during the past two fiscal years, having shot up <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/30\/egypt-poverty-rate-stands-at-32-5-according-to-latest-capmas-income-report\/\">almost five percentage points to 32.5%<\/a> in FY2017-2018, <a href=\"https:\/\/alborsaanews.com\/2020\/12\/03\/1403667\">the local press<\/a> reports. The rate of extreme poverty decreased to 4.5% from 6.2% during the two-year period.<\/p>\n<p><strong>Incomes rise:<\/strong> The average annual net income for a family <a href=\"https:\/\/bit.ly\/3lKkR8y\">increased 15% to EGP 69.1k<\/a>, with the urban population seeing an increase of 16.3% and people living in rural areas seeing a 13.3% rise. The adjusted poverty line for individuals was raised to EGP 857 from EGP 736 in FY2017-18, Capmas advisor Heba El Leithy said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/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=\"567739\" 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=\"567739\">\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\">CURRENT AFFAIRS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/\">\r\n                            Juhayna + El Tawheed &#038; El Nour bosses face charges of terrorist group funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Juhayna + El Tawheed &#038; El Nour bosses face charges of terrorist group funding&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/&title=Juhayna + El Tawheed &#038; El Nour bosses face charges of terrorist group funding\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Juhayna+%2B+El+Tawheed+%26%23038%3B+El+Nour+bosses+face+charges+of+terrorist+group+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fjuhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/juhayna-el-tawheed-el-nour-bosses-face-charges-of-terrorist-group-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567739\" class=\"content-area-description single-story post-567739 post type-post status-publish format-standard hentry category-current-affairs tag-current-affairs tag-enterpriseam tag-hosni-mubarak tag-juhayna tag-safwan-thabet wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Juhayna Chairman Safwan Thabet has been ordered detained for 15 days<\/strong> pending investigations on charges of allegedly joining and funding a terrorist organization, <a href=\"https:\/\/bit.ly\/3lPP0TM\">Al Masry Al Youm<\/a> reports. Thabet was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/692e0dbb-bdc8-40ba-9fba-fb2926de93e9\">arrested on 3 December<\/a>. His son Seif is now acting chairman of the company, which said last week its operations have not been affected.<\/p>\n<p><strong>Facing similar charges is El Tawheed & El Nour stores owner Sayed El Sewerky,<\/strong><strong> who was arrested yesterday<\/strong> and ordered detained 15 days pending investigations for allegedly financing a terrorist group, <a href=\"https:\/\/bit.ly\/3mLgqeZ\">Youm7<\/a>reports.<\/p>\n<p><strong>Elsewhere in current affairs: The EU\u2019s Court of Justice annulled a freeze on the<\/strong><strong> Mubarak family\u2019s assets Thursday<\/strong> after concluding that the original asset freeze was imposed without the court verifying Egyptian authorities\u2019 claims and preserving the family\u2019s right to judicial protection, according to the court <a href=\"http:\/\/curia.europa.eu\/juris\/document\/document.jsf;jsessionid=F760E1B19B5B9EADED6E98F3D851CE3A?text=&docid=234941&pageIndex=0&doclang=en&mode=req&dir=&occ=first&part=1&cid=16425949\">judgement<\/a>. The value of the unfrozen assets was not made public.<\/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\/current-affairs\/\">CURRENT AFFAIRS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hosni-mubarak\/\">Hosni Mubarak<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safwan-thabet\/\">Safwan Thabet<\/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=\"567740\" 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=\"567740\">\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\">Making It<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/\">\r\n                            How to fundraise with Actis Partner Hossam Abou Moussa                        <\/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\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/\" 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\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/')\">\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\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/\">\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=How to fundraise with Actis Partner Hossam Abou Moussa&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/\">\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\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/&title=How to fundraise with Actis Partner Hossam Abou Moussa\">\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=How+to+fundraise+with+Actis+Partner+Hossam+Abou+Moussa+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fhow-to-fundraise-with-actis-partner-hossam-abou-moussa%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\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/95.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567741\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/how-to-fundraise-with-actis-partner-hossam-abou-moussa\/95-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/95.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"95.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/95.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/95.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567740\" class=\"content-area-description single-story post-567740 post type-post status-publish format-standard has-post-thumbnail hentry category-making-it tag-actis tag-covid-19 tag-emerging-markets tag-enterpriseam tag-hossam-abou-moussa tag-making-it tag-podcast wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>How do you fundraise? <\/strong>We plot the three critical aspects of a successful business from the perspective of an investor, and how to leverage them for fundraising despite uncertain macro conditions, with Actis Partner Hossam Abou Moussa in the season finale of Making It. Whether you\u2019re interested in fintech, investment, or considering taking on a private equity partner, this episode is a must listen for you.<\/p>\n<p><strong>Tap or click here to listen to the episode on:<\/strong> <a href=\"https:\/\/bit.ly\/3qmtmKb\">Our website<\/a> | <a href=\"https:\/\/apple.co\/3lwLjlV\">Apple Podcasts<\/a> | <a href=\"https:\/\/bit.ly\/3mvNJTd\">Google Podcasts<\/a>| <a href=\"https:\/\/bit.ly\/3fZX2bm\">Omny<\/a>. We\u2019re also available on <a href=\"https:\/\/spoti.fi\/318pZMZ\">Spotify<\/a>, but only for non-MENA accounts. Subscribe to Making It on your podcatcher of choice <a href=\"https:\/\/bit.ly\/35lugvb\">here<\/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\/actis\/\">Actis<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hossam-abou-moussa\/\">Hossam Abou Moussa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/making-it\/\">Making It<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/podcast\/\">podcast<\/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=\"567742\" 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-geow4yt\" data-v=\"4\" data-block-id=\"geow4yt\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-geow4yt-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-geow4yt-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-18mjk7s\" data-v=\"4\" data-block-id=\"18mjk7s\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-18mjk7s-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-18mjk7s-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 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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-n2mw2qx\" data-v=\"4\" data-block-id=\"n2mw2qx\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-n2mw2qx-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-n2mw2qx-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\" 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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=\"567743\" 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=\"567743\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/last-nights-talk-shows-on-6-december-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 6 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\/06\/last-nights-talk-shows-on-6-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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/last-nights-talk-shows-on-6-december-2020\/96-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/96.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"96.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/96.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/96.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567743\" class=\"content-area-description single-story post-567743 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-emmanuel-macron tag-enterpriseam tag-last-nights-talk-shows tag-ngos-case wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Closure of NGOs case:<\/strong> A court issued a ruling to close the 2011 NGOs case, which was brought against 20 NGOs accused of receiving illicit foreign funding, Kelma Akhira\u2019s Lamees El Hadidi noted yesterday. The court ruling found six of the organizations not guilty and said there was insufficient evidence against the other 14 organizations. Lamees recapped the history of the case (<a href=\"https:\/\/www.youtube.com\/watch?v=RZsTAgtSkfk\">watch, runtime: 11:49<\/a>).<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<p><strong>President Abdel Fattah El Sisi\u2019s visit to Paris<\/strong> and planned sit-down with Emmanuel Macron is a testament to Egypt and France\u2019s close ties, as it coincides with regional and global geopolitical developments such as EastMed tensions with Turkey and the change in administration over in the US, Center for Middle Eastern Studies Director Ahmed Youssef told Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=Wxd6a1gtD-A\">watch, runtime: 11:04<\/a>).<\/p>\n<p><strong>Shops and restaurants across the country are getting shut down for violating new rules on their operating hours<\/strong>, with the largest number of violations recorded in Cairo, the Local Development Ministry said, Assal noted (<a href=\"https:\/\/www.youtube.com\/watch?v=etip-afRlvM\">watch, runtime: 6:42<\/a>).<\/p>\n<p><strong>The latest developments in the global race to produce a covid-19 vaccine<\/strong> was on Masaa DMC\u2019s Eman El Hosary\u2019s agenda (<a href=\"https:\/\/www.youtube.com\/watch?v=mzjL8XCRFaw\">watch, runtime: 4:50<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ngos-case\/\">NGOs case<\/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=\"567745\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567746\" 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=\"567746\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/egypt-in-the-news-on-6-december-2020\/\">\r\n                            Egypt in the News on 6 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\/06\/egypt-in-the-news-on-6-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\/06\/egypt-in-the-news-on-6-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\/06\/egypt-in-the-news-on-6-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 6 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/egypt-in-the-news-on-6-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\/06\/egypt-in-the-news-on-6-december-2020\/&title=Egypt in the News on 6 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+6+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Fegypt-in-the-news-on-6-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\/06\/egypt-in-the-news-on-6-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567746\" class=\"content-area-description single-story post-567746 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-diplomacy tag-egyptian-initiative-for-personal-rights tag-enterpriseam tag-gerd tag-human-rights tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The release of the three <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0941df8a-0d30-4543-b0cd-0e363d8b11bf\">Egyptian Initiative for Personal Rights members<\/a><\/strong><strong> on <\/strong><strong>Thursday led foreign coverage of Egypt over the weekend.<\/strong> Foreign publications attribute the move to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0941df8a-0d30-4543-b0cd-0e363d8b11bf\">international pressure<\/a> brought by politicians and celebrities in response to the arrests. Everyone from the <a href=\"https:\/\/apnews.com\/article\/egypt-arrests-middle-east-dca33f322e08b0b6805cec679f0a3a06\">Associated Press<\/a> to the <a href=\"https:\/\/www.nytimes.com\/2020\/12\/03\/world\/middleeast\/egypt-Human-rights-activists.html?searchResultPosition=1\">NYT<\/a> picked up the story. <a href=\"https:\/\/www.reuters.com\/article\/egypt-rights\/egyptian-rights-group-head-hopes-release-will-help-other-prisoners-idUSKBN28F0ID\">Reuters<\/a> also ran an interview with EIPR director Gasser Abdel Razek following his release.<\/p>\n<p><strong>Model Salma El Shimy\u2019s stint in jail over a photoshoot by the pyramids is still <\/strong><strong>getting digital ink <\/strong>after her release on Tuesday pending investigation. El Shimy later said that she was aiming to promote tourism to the country in light of the discovery of 52 coffins at the Saqqara complex. (<a href=\"https:\/\/www.cbsnews.com\/news\/egyptian-model-salma-el-shimy-arrested-ancient-pyramid-photos\/\">CBS News<\/a> | <a href=\"https:\/\/www.independent.co.uk\/news\/world\/africa\/egypt-arrest-women-saqqara-necropolis-b1764510.html\">The Independent<\/a>)<\/p>\n<p><strong>Also making headlines: <\/strong>Novelist and activist Ahdaf Soueif has lunch with the FT under the headline <a href=\"https:\/\/www.ft.com\/content\/75fd7538-33a9-4418-8409-65c832976dd7\">\u201cI have a lot of friends in prison.\u201d<\/a> Meanwhile, <a href=\"https:\/\/foreignpolicy.com\/2020\/12\/03\/ethiopia-needs-united-states-honest-broker-blue-nile-dam-dispute-gerd-egypt-sudan\/\">Foreign Policy<\/a> talks GERD, the <a href=\"https:\/\/www.jpost.com\/middle-east\/egypt-to-stiffen-child-marriage-penalties-651133\">Jerusalem Post<\/a> says we\u2019re going to crack down on child marriage again, and <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN28D1SA\">six people died<\/a> in the collapse of a building in Alexandria.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-initiative-for-personal-rights\/\">Egyptian Initiative for Personal Rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567747\" 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=\"567747\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/also-on-our-radar-on-6-december-2020\/\">\r\n                            Also on our radar on 6 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\/06\/also-on-our-radar-on-6-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\/06\/also-on-our-radar-on-6-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\/06\/also-on-our-radar-on-6-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 6 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/also-on-our-radar-on-6-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\/06\/also-on-our-radar-on-6-december-2020\/&title=Also on our radar on 6 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+6+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F06%2Falso-on-our-radar-on-6-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\/06\/also-on-our-radar-on-6-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567747\" class=\"content-area-description single-story post-567747 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-bombardier tag-commodities tag-customs tag-customs-act tag-east-port-said tag-enterpriseam tag-hala-el-said tag-logistics tag-national-investment-bank tag-orascom-construction tag-trade tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Still more <\/strong><strong>metro + railway news:<\/strong> Bombardier is set <a href=\"https:\/\/alborsaanews.com\/2020\/12\/02\/1403087\">to begin manufacturing<\/a> in 1Q2021 the railcars for the two planned monorails that will link Sixth of October City to Giza and Nasr City to the new capital, under a USD 4.5 bn contract signed <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/egypt-signs-usd-4-5-bn-agreement-for-monorails-to-giza-and-new-capital\/\">last year<\/a>. The manufacturing phase was previously scheduled to begin <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54697439-dfae-4ccd-ae49-bc98ceb3a622\">this year<\/a>. French public transport operator RATP <a href=\"https:\/\/bit.ly\/36Mplal\">is bidding for<\/a> the contract to manage and operate the electric rail line from Salam City to 10th of Ramadan City. Meanwhile, the new electric line connecting Abu Qir Port to West Port Said is <a href=\"https:\/\/bit.ly\/3qvWKxR\">expected to cost<\/a> EUR 6 bn.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Orascom Construction<\/strong>, Arab Contractors, Hassan Allam and an unnamed company have formed a consortium to <a href=\"https:\/\/bit.ly\/36N9vMO\">build<\/a> the new administrative capital\u2019s water supply network in an EGP 15 bn project.<\/li>\n<li>A roll-on roll-off vehicle terminal <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/22\/bollor-toyota-and-nyk-sign-a-final-contract-to-build-a-roll-on-roll-off-terminal-at-east-port-said-8832\/\">being built<\/a> by a consortium led by Japan\u2019s <strong>Toyota <\/strong><strong>Tsusho<\/strong> in East Port Said <a href=\"https:\/\/bit.ly\/33DnC59\">will be operational<\/a> in January 2021.<\/li>\n<li>The restructuring of the state-owned <strong>National Investment Bank<\/strong> should be complete by mid 2021, planning minister and bank chairman Hala El Said told <a href=\"https:\/\/bit.ly\/2JvHrVh\">Al Mal<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bombardier\/\">Bombardier<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-act\/\">Customs Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/east-port-said\/\">East Port Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-investment-bank\/\">National Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567748\" 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=\"567748\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/what-the-markets-are-doing-on-6-december-2020\/\">\r\n                            What the markets are doing on 6 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 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<\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567748\" class=\"content-area-description single-story post-567748 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 class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>The EGX30 fell 0.1% on Thursday <\/strong>on turnover of EGP 1.4 bn (7% above the 90-day average). Foreign investors were net sellers. The index is down 21.1% YTD.<\/p><p><strong>In the green: <\/strong>Export Development Bank of Egypt (+6.0%), Oriental Weavers (+3.5%) and Juhayna (+2.0%).<\/p><p><strong>In the red: <\/strong>Emaar Misr (-2.6%), Ezz Steel (-1.3%) and Egyptian Iron &amp; Steel (-1.2%).<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,015<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -21.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.6<\/p>\n<\/td>\n<td>\n<p>Sell 15.7<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.6<\/p>\n<\/td>\n<td>\n<p>Sell 15.7<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>8,674.97<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +3.41%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>4,964.94<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: -2.18%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,419.60<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -12.49%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,699.12<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +14.50%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,550.23<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: -13.16%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 49.25<\/p>\n<\/td>\n<td>\n<p>+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.58<\/p>\n<\/td>\n<td>\n<p>+2.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,840.00<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,118.45<\/p>\n<\/td>\n<td>\n<p>+2.2%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>Emerging markets equities are expected to have a good run in 2021 <\/strong>as demand rises and large-scale vaccination efforts around the globe improve sentiment, said Invesco global markets strategist David Chao, according to <a href=\"https:\/\/www.reuters.com\/article\/us-investment-summit-invesco-gmf\/recovery-to-be-erratic-emerging-stocks-to-rise-in-2021-invesco-idUSKBN28C0XF?il=0\">Reuters<\/a>. Rising inflation and better corporate earnings, which are expected to follow the availability of a vaccine, all point to a \u201ccontinued rally of value stocks,\u201d which is good news for EMs.<\/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=\"567749\" 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=\"567749\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/around-the-world-on-6-december-2020\/\">\r\n                            Around the world on 6 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\/06\/around-the-world-on-6-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(); 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Panagiotopoulos\u2019 <a href=\"https:\/\/www.ekathimerini.com\/259855\/article\/ekathimerini\/news\/defense-minister-in-egypt-for-meetings-with-sisi-zaki\">three-day visit<\/a> to Egypt last week coincided with the <a href=\"https:\/\/bit.ly\/3lxLAEV\">Medusa 10 military drills<\/a> between Egypt, Greece, Cyprus, France and the UAE.<\/p>\n<p><strong>El Sisi also talked to outgoing US president Donald Trump on the phone on Thursday.<\/strong> The two discussed \u201ca number of regional issues,\u201d <a href=\"https:\/\/bit.ly\/33LCbE2\">Ittihadiya said<\/a>, giving little away.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/donald-trump\/\">Donald Trump<\/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\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567750\" 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=\"567750\">\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\/06\/the-most-striking-images-of-2020\/\">\r\n                            The most striking images of 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        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           \n<article id=\"post-567750\" class=\"content-area-description single-story post-567750 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-art tag-culture tag-enterpriseam tag-on-your-way-out tag-photography wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Covid, race and climate dominate this <\/strong><strong><a href=\"https:\/\/www.bbc.com\/culture\/article\/20201203-the-most-striking-images-of-2020\">BBC image gallery<\/a><\/strong><strong> of the most notable<\/strong> <strong>photos of 2020<\/strong> according to American poet and art critic Kelly Grovier.<\/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\/art\/\">art<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/photography\/\">photography<\/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=\"567752\" 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\/06\/calendar-on-6-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567752\" class=\"content-area-description single-story post-567752 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>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>8 December (Tuesday): EAEF webinar on the future of Egypt\u2019s private sector. Register <a href=\"https:\/\/us02web.zoom.us\/webinar\/register\/WN_dVnOch4rS7uPP80AEXg8yA\">here<\/a>.<\/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":567722,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-567721","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"92f7d175-ddb2-46ec-b80f-3d49a0b5c8d7","teaser":"","photo_url":"https:\/\/ent.news\/2020\/12\/86.jpg"},"yoast_head":"<!-- This site is optimized 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