{"id":567969,"date":"2020-12-14T04:03:40","date_gmt":"2020-12-14T04:03:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=567969"},"modified":"2025-12-16T06:08:58","modified_gmt":"2025-12-16T06:08:58","slug":"the-debt-market-is-looking-really-good-heading-into-2021","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-debt-market-is-looking-really-good-heading-into-2021\/","title":{"rendered":"The debt market is looking really good heading into 2021"},"content":{"rendered":"<section id=\"567971\" 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=\"567971\">\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\/14\/what-were-tracking-on-14-december-2020\/\">\r\n                            What we\u2019re tracking on 14 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\/14\/what-were-tracking-on-14-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\/14\/what-were-tracking-on-14-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\/14\/what-were-tracking-on-14-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What we\u2019re tracking on 14 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/what-were-tracking-on-14-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\/14\/what-were-tracking-on-14-december-2020\/&title=What we\u2019re tracking on 14 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+we%E2%80%99re+tracking+on+14+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Fwhat-were-tracking-on-14-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\/14\/what-were-tracking-on-14-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567971\" class=\"content-area-description single-story post-567971 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-pfizer tag-us 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, friends, and welcome to an unusually busy Monday <\/strong>in which we have plenty of corporate news to keep you entertained on your morning commute, whether that\u2019s across the hall or across the city.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong>The final results for parliamentary elections held in Cairo and 12 other governorates will be announced today.<\/p><p>(We said 11 other governorates yesterday, but that was apparently because we decided Dakahlia should go missing. Our apologies for accidentally disenfranchising all Dakahlians.)<\/p><p><strong>The US electoral college votes today <\/strong>and looks set to deliver Agent Orange \u201ca withering blow to his increasingly hopeless effort to overturn the results of the US presidential election when 538 members of the electoral college cast their ballots and formally send Joe Biden to the White House,\u201d <a href=\"https:\/\/www.theguardian.com\/us-news\/2020\/dec\/13\/us-election-electoral-college-vote-biden-trump\">the Guardian<\/a> reports.<\/p><p><strong>It\u2019s vaccine day in the US of A <\/strong>as wide distribution of the Pfizer \/ BioNTech vaccine begins nationwide following the FDA\u2019s emergency approval. <a href=\"https:\/\/apnews.com\/article\/pandemics-coronavirus-pandemic-0437add2a9245e1f9c57e04e085c6cbc\">The Associated Press<\/a> has the story.<\/p><p><strong>That has the tinfoil hat brigade muttering <\/strong>about fundamental changes to human DNA and \u201ctoxic metals in vaccines that literally make our bodies into an antenna for 5G\u201d wireless signals that will somehow benefit Bill Gates and allow him to biometrically monitor us all, among other things. We\u2019re not joking \u2014 a viral video on the subject (to which we won\u2019t be linking) has gotten a second lease on life in the past couple of days. Don\u2019t bother trying to set recipients straight \u2014 <a href=\"https:\/\/www.youtube.com\/watch?v=sFOGBeLPUnY\">just send them this video to watch<\/a>.<\/p><p><strong>NOT HAPPENING TODAY- A post-Brexit trade pact. <\/strong>But neither have talks melted down: The UK and the EU have pushed the deadline to strike a post-Brexit trade agreement, asking their negotiators to \u201cgo the extra mile,\u201d European Commission President Ursula Von der Leyen and UK Prime Minister Boris Johnson said in a joint statement (<a href=\"https:\/\/www.bbc.com\/news\/uk-politics-55292890\">BBC<\/a> | <a href=\"https:\/\/news.sky.com\/story\/brexit-trade-talks-to-continue-after-uk-and-eu-negotiators-make-progress-12159935\">Sky News<\/a>). The issue now boils down to creating a \u201clevel playing field\u201d on regulation, <a href=\"https:\/\/www.ft.com\/content\/10a2e4b4-3a32-4c1a-a48a-75a35960cffd\">the Financial Times<\/a> reports. <strong>The new deadline for an agreement is 31 December <\/strong>in this chapter of The NeverEnding Story Part XXCVII.<\/p><p><strong>In the meantime, investors have <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/fa786784-f60f-43a7-b0e0-71382dcddc82\">pulled<\/a><\/strong><strong> some USD 42 bn <\/strong>from UK-exposed funds since the Brexit referendum.<\/p><p><strong>Egypt will co-chair a UN Support Mission in Libya (UNSMIL) technical <\/strong><strong>meeting today and tomorrow <\/strong>alongside the US and the EU. On the agenda: Discussing possible economic policy reforms with Libya's main financial institutions, according to a <a href=\"https:\/\/unsmil.unmissions.org\/unsmil-convene-technical-meeting-agree-critical-reforms-libyan-economy?fbclid=IwAR3P1dpNQD4fSZTJOWW0hSgwoXmsvkpO2870P271dLHGG21jt7UedwEusDc\">UNSMIL statement<\/a>. The meeting will convene in the UN Office in Geneva.<\/p><p><strong>Expect to see a flurry of energy news tomorrow<\/strong> as <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/396768\/Business\/Economy\/AlAhram-to-launch-th-edition-of-energyfocused-conf.aspxElectricity?fbclid=IwAR3ZSGJyBXzTjO870-aXE5rw2WzxZVko7iC6_QimbAe8CpsgJi6H_18MY_g\">Al Ahram\u2019s annual energy conference<\/a> gets underway today.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The House of Representatives will reconvene from its fall recess tomorrow. <\/strong>Look for MPs to have their noses to the grindstone until our next class of elected representatives is seated in the new year.<\/p><p><strong>The US Federal Open Market Committee<\/strong> kicks off its two-day policy meeting tomorrow to review interest rates. US policymakers are expected to expand a USD 120 bn per month bond-buying program <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35e6ef99-0cd7-49b6-8c5f-a164d1bdd1ec\">launched<\/a> at the onset of the pandemic to maintain recovery momentum, senior economists and policy watchers said, according to <a href=\"https:\/\/www.ft.com\/content\/28db9e0a-9b6b-4e95-99e6-615ffcbdbaf8\">the Financial Times<\/a>. An extension would make it harder to walk back and would mean easy monetary policy for years ahead, complementing a promise to keep interest rates at close to zero until inflation exceeds 2% and the economy achieves full employment.<\/p><p><strong>Germany is set to enter a nearly month-long hard lockdown on Wednesday<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/99327e7b-4d58-40c4-9957-dd8fd92a6da7\">Financial Times<\/a> reports. All schools and shops will be closed and private gatherings of more than five people banned until at least 10 January, with a slight relaxing of restrictions between 24 and 26 December to allow for Christmas gatherings.<\/p><p><strong>The Central Bank of Egypt\u2019s Monetary Policy Committee<\/strong> meets a week from Thursday for the final time in 2020 to review interest rates.<\/p><p><strong>Indonesia, Russia, the Philippines and Mexico all look set to leave rates on hold <\/strong>as at least 10 EM central banks are set to make decisions in the coming weeks. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-13\/emerging-markets-look-to-vaccine-rollout-stimulus-for-next-spur?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg has a solid rundown.<\/a><\/p><p><strong>Ethiopia and Sudan are <\/strong><strong><a href=\"https:\/\/www.reuters.com\/article\/idUSKBN28N0CN\">talking GERD<\/a><\/strong><strong> next week<\/strong>, but it\u2019s not clear whether Egypt is invited to the sit-down. Sudan has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de9ff00f-8f74-455f-9e89-06cb20d091bf\">opted out<\/a> of talks for now.<\/p><p><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><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><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>START THIS BUSINESS- An old folks\u2019 home. <\/strong>Yes, our population is ridiculously young. It\u2019s also ridiculously large, which makes the absolute number of folks over the age of 65 equivalent to the population of a small European nation. And there are just about zero services catering to the needs of seniors. From retirement communities to homecare and long-term care facilities, both the olds among us and their Gen X and Millennial children \/ grandchildren are going to need help, sooner or later. Even KSA is ahead of us in this, as <a href=\"https:\/\/ent.news\/2020\/12\/Overview-of-KSA-LTC-Rehabilitation-and-Home-Care-Sector.pdf\">a piece by Colliers on the market there (pdf)<\/a> reminded us yesterday.<\/p><p><strong>SIGN OF THE TIMES- Inexpensive tracker funds are outperforming private equity <\/strong>in developed markets, <a href=\"https:\/\/www.ft.com\/content\/0640d664-083e-4439-8fe4-faa06eee6e17\">the FT<\/a> writes. Read the underlying study <a href=\"https:\/\/joi.pm-research.com\/content\/30\/1\/67\">here<\/a>.<\/p><p><strong>Meet the new \u201ccoach class\u201d:<\/strong> Low airplane prices (thanks, collapsing tourism market) and skyrocketing demand for e-commerce have created a boom market for <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-airlines-freight\/falling-plane-values-e-commerce-rise-fuels-boom-in-converting-passenger-planes-to-freighters-idUSKBN28O02U?il=0\">converting airliners into cargo aircraft<\/a>.<\/p><p><strong>Anyone over the age of 30 will feel nostalgia <\/strong>watching this <a href=\"https:\/\/twitter.com\/bell\/status\/1334895834048192512?s=12\">Bell Canada holiday ad<\/a>, no matter where you grew up.<\/p><p><strong>Prolific spy thriller author John le Carr\u00e9 has died at the age of 89. <\/strong>Obits are everywhere, from the <a href=\"https:\/\/www.nytimes.com\/2020\/12\/13\/books\/john-le-carre-dead.html\">New York Times<\/a> to <a href=\"https:\/\/www.ft.com\/content\/fc211dc1-f404-4b70-9588-b1fae7e94ec0\">the FT<\/a> and <a href=\"https:\/\/www.wsj.com\/articles\/master-spy-writer-john-le-carre-dies-at-89-11607900604\">the Journal<\/a>. The SIGN OF THE TIMES here? The obit writers are at pains to note that he did <em>not <\/em>die of covid-19.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise.<\/p><p><strong>WE\u2019RE DOING SOMETHING DIFFERENT THIS MONTH- <\/strong>It\u2019s been a little over a year since we published our first issue of Blackboard \u2013 and what a year it has been. So, we decided to reflect on the ups and downs of the education sector during this exceptionally turbulent year, in a special two-part Blackboard Year in Review. In part 1, we look at how covid-19 drove changes in the sector and how despite this, education proved a defensive sector, with equities staging a rapid comeback and CAPEX investment remaining strong.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"567972\" 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=\"567972\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/567972\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567972\" class=\"content-area-description single-story post-567972 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/SOMA-ENTERPRISE-MESCA-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Tap into the undiscovered worlds that lie above and below Somabay\u2019s mesmerizing sea. Perfect for sunbathing and stargazing anytime of the year, the new Mesca Beach is Somabay\u2019s exclusive beachfront enclave, directly opening into its tranquil azure bay and captivating mountain terrain.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567973\" 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=\"567973\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/what-to-expect-from-the-debt-market-in-early-21\/\">\r\n                            What to expect from the debt market in early \u201821                        <\/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\/14\/what-to-expect-from-the-debt-market-in-early-21\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The issuances have already been greenlit by the FRA\u2019s board of directors, but it\u2019s still unclear when exactly they\u2019ll hit the market. The companies will be looking to securitize outstanding leasing, consumer finance, mortgage, and factoring receivables through existing special purpose vehicles (SPVs), Omran said.<\/p>\n<p><strong>The FRA also separately approved multi-tranche programs by two companies that plan to securitize EGP 12.5 bn-worth of receivables<\/strong>, according to Omran. The unnamed real estate companies plan to get the programs up and running to finance working capital, he added.<\/p>\n<p><strong>What we know so far: <\/strong>CI Capital-owned Corplease is planning to issue EGP 2.5 bn of the repackaged securities, we noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf0dc2d3-2e2e-44cf-a0cc-d58a5ac7fcec\">last month<\/a>. The issuance, which is likely one of the seven Omran referred to yesterday, will set a new record as the largest private sector issuance in Egypt. State-owned Banque Misr\u2019s investment arm Misr Capital is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccf79237-31c5-4740-8efc-9cc78489efd1\">acting as lead manager<\/a> on at least three other securitized offerings, which we expect to hear more about soon. Those include a planned EGP 1 bn sale by AT Lease, which we noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a6971dc-4a00-490a-a73d-6cf8648d1d60\">last month<\/a> was pushed to 2021.<\/p>\n<p><strong>Securitized bonds are becoming an increasingly popular means of debt finance:<\/strong> Corplease, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15203615-bc06-4cd8-955c-8e6071334197\">Sarwa<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7781d265-be69-4137-85d1-85116a1c32d3\">Palm Hills<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf96e320-f4d7-43dd-a699-92eba8495bce\">Raya<\/a> are some of the private sector firms to sell asset-backed securities to investors this year. Sizes have ranged anywhere from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/833ff3cf-47cc-4c45-b52f-ad27b2fef903\">Premium Card\u2019s EGP 182 mn offering<\/a> to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15203615-bc06-4cd8-955c-8e6071334197\">Sarwa\u2019s EGP 1.8 bn issuance<\/a> in May. The New Urban Communities Authority was responsible for the largest issuance this year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e156a486-52ca-4556-b121-54d25219ce31\">selling EGP 10 bn of bonds<\/a> to investors to fund new developments in the new capital and New El Alamein.<\/p>\n<p><strong>But Enterprise, what are securitized bonds?<\/strong> Check out our explainer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32ba4863-0863-403d-85e7-9732b18499b6\">here<\/a>.<\/p>\n<p><strong>THANK THE CBE FOR THIS SPATE OF BORROWING-<\/strong> The 400 bps rate cuts enacted this year already helped push up corporate borrowing 18% y-o-y in the first five months of 2020, while personal loans increased by 30% over the same period, BNP Paribas said in a report picked up by the <a href=\"https:\/\/alborsaanews.com\/2020\/12\/09\/1405126\">local press<\/a>. The uptick in corporate lending comes after years of businesses keeping their capex borrowing plans on ice until interest rates <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/13\/businesses-eager-for-interest-rates-to-return-to-pre-float-levels-to-boost-investment\/\">came down to pre-float levels<\/a>. Though Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ae9093b-0f9e-470a-91ff-6ac26a123a87\">poverty rate decreased<\/a> in FY2019-2020 for the first time in two decades, the increase in personal loans could be a reflection of job losses and economic hardship caused by covid-19, with 74% of Egyptians reporting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/918eead0-f30d-4846-8203-db028f4173cb\">diminished incomes<\/a> since covid-19 began, according to a July CAPMAS report.<\/p>\n<p style=\"font-size: 18px; font-weight: bold;\">Fawry eyes debt to charge growth<\/p>\n<p><strong>Fawry subsidiary <\/strong><strong>Fawry Microfinance i<\/strong><strong>s looking to borrow at least EGP 300 mn<\/strong> from its existing shareholders to expand its microfinance portfolio and increase operations, Fawry CEO Ashraf Sabry told Enterprise. Negotiations are ongoing with 6.3% shareholder Banque Misr to provide a EGP 150 mn loan. The Egyptian American Enterprise Fund, which holds a 9.7% stake in the firm, had previously agreed to extend <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5537ad-879e-4704-96a6-330d95d5a297\">a USD 10 mn loan<\/a> to the microfinance firm. The company is hoping to expand its microfinance portfolio to EGP 500 mn by the end of next year, up from EGP 204 mn in 9M2020.<\/p>\n<p><strong>Expanding the microfinance subsidiary is complementary to Fawry\u2019s digital lending ecosystem <\/strong>as it enables merchants to pay their suppliers electronically, Sabry told us. \u201cWe have seen solid growth in 2020 and we <strong>see the potential of lending to small businesses to finance their working capital and purchases from suppliers<\/strong>,\u201d he added. Fawry became Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bacf711c-ba11-4aa2-9977-3d254e2683f5\">first widely recognized unicorn<\/a>, reaching a market cap of USD 1 bn in August, after its share price increased by more than 300% since it debuted on the EGX <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/14\/egypts-first-ipo-this-year-sees-shares-up-31-on-the-first-day-of-trading\/\">last year<\/a>.<\/p>\n<p style=\"font-size: 18px; font-weight: bold;\">Hermes resumes its EGP 2 bn corporate bond program<\/p>\n<p><strong>Hermes Securities Brokerage sold a second EGP 500 mn tranche of <\/strong><strong>unsecuritized bonds, resuming its EGP 2 bn two-year corporate bond program<\/strong>, according to an emailed <a href=\"https:\/\/ent.news\/2020\/12\/EFG-Hermes-Announces-Successful-Closure-of-the-second-issuance-of-Egypts-First-Short-Term-Bond-Program-in-an-EGP-500-million-transaction.pdf\">statement (pdf)<\/a>. The issuance was 1.3x oversubscribed without local banks, with strong demand from \u201ca broad array of domestic Egyptian corporates,\u201d said EFG Hermes\u2019 co-head of investment banking Mostafa Gad.<\/p>\n<p><strong>Background:<\/strong> The EFG Hermes subsidiary began the program with an <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/22\/what-were-tracking-on-sunday-22-december-2019-8824\/\">EGP 400 mn issuance<\/a> of one-year bonds in December 2019, ending a <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/19\/egypts-efg-subsidiary-is-first-to-issue-short-term-debt-under-new-fra-framework-8761\/\">decade-long dry spell<\/a> for corporate bond issuances. <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/04\/fra-sets-framework-for-short-term-bonds-instruments\/\">New FRA regulations<\/a> introduced in 2018 now allow 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>Advisers: <\/strong>EFG Hermes acted as financial adviser and main underwriter for the issuance, and acted as guarantor for the issuance along with Banque Misr\u2019s Misr Capital. Zulficar & Partners acted as counsel, while KPMG Hazem Hassan acted as auditor.<\/p>\n<p><strong>MEANWHILE- SolarizEgypt is eyeing EGP 300 mn-worth of loans from local banks<\/strong> for its solar energy projects, Managing Director Yaseen Abdel-Ghaffar said, according to <a href=\"https:\/\/alborsaanews.com\/2020\/12\/13\/1405164\">the local press<\/a>.<\/p>\n<p><strong><em>CORRECTION-<\/strong> The version of this story published in our email edition incorrectly identified Corplease as being owned by CIB. It is owned by former CIB subsidiary CI Capital, which <a href=\"https:\/\/www.cibeg.com\/English\/News\/Pages\/CI-Capital-Holding-acquires-CIB's-stake-in-CORPLEASE.aspx\">acquired Corplease<\/a> from its former corporate parent in 2016.<\/em><\/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\/bnp-paribas\/\">BNP Paribas<\/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\/egyptian-american-enterprise-fund\/\">Egyptian American Enterprise Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/islamic-finance\/\">Islamic finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/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=\"567975\" 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=\"567975\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/galina-to-sell-49-in-egx-debut\/\">\r\n                            Galina to sell 49% in EGX debut                        <\/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\/14\/galina-to-sell-49-in-egx-debut\/\" 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\/14\/galina-to-sell-49-in-egx-debut\/')\">\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\/14\/galina-to-sell-49-in-egx-debut\/\">\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=Galina to sell 49% in EGX debut&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/galina-to-sell-49-in-egx-debut\/\">\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\/14\/galina-to-sell-49-in-egx-debut\/&title=Galina to sell 49% in EGX debut\">\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=Galina+to+sell+49%25+in+EGX+debut+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Fgalina-to-sell-49-in-egx-debut%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\/14\/galina-to-sell-49-in-egx-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/238.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567976\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/galina-to-sell-49-in-egx-debut\/238-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/238.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"238.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/238.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/238.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567975\" class=\"content-area-description single-story post-567975 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-agriculture tag-egx tag-enterpriseam tag-food tag-ipo-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-02\"><\/a> <strong>Agrifood player <\/strong><strong><a href=\"http:\/\/www.galina-eg.com\/\">Galina Holding<\/a><\/strong><strong> will sell up to 49% of the company in its EGX <\/strong><strong>debut slated for early 2021<\/strong> with the aim of raising USD 50 mn through the issuance of 161 mn new shares, Galina Chairman Abdel Wahed Soliman told <a href=\"https:\/\/bit.ly\/2JRsY6p\">Al Mal<\/a>. Galina plans to use the proceeds from the IPO to finance capex spending to expand its operations in fruit and vegetable concentrates and meat alternatives. Galina had been looking at a potential EGX listing <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/06\/galina-agrofreeze-looks-towards-egx-listing-as-it-seeks-to-leave-nilex\/\">since 2018<\/a>.<\/p>\n<p><strong>Local and international asset managers have already expressed interest in a piece of <\/strong><strong>Galina.<\/strong> The prospective institutional investors include five unnamed private equity funds from France, the UAE, Kuwait, and one Egyptian fund, Soliman said. Subscription to the institutional portion of the IPO will end on 26 December, he noted.<\/p>\n<p><strong>Advisers: <\/strong>The company has tapped Renaissance Capital as lead adviser on the transaction.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO 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=\"567977\" 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=\"567977\">\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\">EQUITIES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/\">\r\n                            UK-based fund expands reduces ownership in Edita to 22%                        <\/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\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/\" 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\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/')\">\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\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/\">\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=UK-based fund expands reduces ownership in Edita to 22%&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/\">\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\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/&title=UK-based fund expands reduces ownership in Edita to 22%\">\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=UK-based+fund+expands+reduces+ownership+in+Edita+to+22%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Fuk-based-fund-expands-reduces-ownership-in-edita-to-22%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\/14\/uk-based-fund-expands-reduces-ownership-in-edita-to-22\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567977\" class=\"content-area-description single-story post-567977 post type-post status-publish format-standard hentry category-equities tag-capital-markets tag-edita tag-enterpriseam tag-equities tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Kingsway Capital has sold 2.5% of its stake in Edita in an EGP 166.5 mn <\/strong><strong>transaction<\/strong>, according to <a href=\"https:\/\/ent.news\/2020\/12\/Edita-stock-purchase-Kingsway-Dec-2020.pdf\">a regulatory filing (pdf)<\/a>. The sale brought down the UK investment\u2019s total holdings in the high-profile snack food maker to 22% from 24.5%, a source from Edita told us. Kingsway is still committed to Edita long-term, despite selling down its stake, the source said, noting that Kingsway\u2019s stake includes GDRs listed on the London Stock Exchange.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/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=\"567978\" 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=\"567978\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/\">\r\n                            Sodic, Mobica are giving SMEs fully-furnished office spaces to lease                        <\/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\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/\" 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\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/')\">\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\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/\">\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=Sodic, Mobica are giving SMEs fully-furnished office spaces to lease&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/\">\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\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/&title=Sodic, Mobica are giving SMEs fully-furnished office spaces to lease\">\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=Sodic%2C+Mobica+are+giving+SMEs+fully-furnished+office+spaces+to+lease+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Fsodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease%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\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/241.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567979\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/sodic-mobica-are-giving-smes-fully-furnished-office-spaces-to-lease\/241-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/241.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"241.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/241.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/241.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567978\" class=\"content-area-description single-story post-567978 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-al-ahly-sabbour tag-enterpriseam tag-mobica tag-real-estate tag-smes tag-sodic 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>Sodic will begin offering SMEs plug-and-play tailored offices on a lease basis in <\/strong><strong>partnership with Mobica under a new service named Work-Plex<\/strong>, according to a <a href=\"https:\/\/ent.news\/2020\/12\/SODIC-and-Mobica-introduce-Work-Plex_En.pdf\">press release (pdf)<\/a>. Sodic will develop the office spaces while Mobica will fully furnish them. Clients can customize their office based on their preferred layouts and interior look and feel. The duo aim to be cost-competitive by offering a wide range of office sizes and furniture designs. Work-Plex will debut at The Portal Business Park in Sodic West \u201cat a later date.\u201d<\/p>\n<p><strong>Why SMEs and Office Don\u2019t Mix?<\/strong> We covered the challenges SMEs face to find affordable office space in our weekly Hardhat vertical. You can check out the two-part series here: <a href=\"https:\/\/enterprise.press\/hardhats\/can-smes-get-around-expensive-office-space\/\">Part 1<\/a> | <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78cfcaa4-8372-4058-8bde-fe308778ff95\">Part 2<\/a><\/p>\n<p><strong>IN OTHER REAL ESTATE NEWS- Al Ahly Sabbour has signed two USD 100 mn <\/strong><strong>contracts with UAE-based property manager <\/strong><strong><a href=\"https:\/\/www.eltizam.ae\/\">Eltizam Asset Management<\/a><\/strong> to provide services to the Egyptian real estate developer, according to <a href=\"https:\/\/www.cbnme.com\/news\/eltizam-signs-usd-100mn-jv-agreements-with-al-ahly-sabbour-to-expand-footprint-in-egypt\/\">a statement<\/a>. The contracts come as part of a longer-term partnership which will see Eltizam provide facility management services in four of Sabbour\u2019s upmarket residential compounds as a starting point, and later in other high-end real estate developments, the statement noted.<\/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\/al-ahly-sabbour\/\">Al Ahly Sabbour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mobica\/\">Mobica<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567980\" 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=\"567980\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/\">\r\n                            Orascom Construction eyes infrastructure investments                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Orascom Construction eyes infrastructure investments&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/&title=Orascom Construction eyes infrastructure investments\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Orascom+Construction+eyes+infrastructure+investments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Forascom-construction-eyes-infrastructure-investments%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/242.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567981\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/orascom-construction-eyes-infrastructure-investments\/242-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/242.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"242.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/242.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/242.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567980\" class=\"content-area-description single-story post-567980 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-infrastructure tag-investment-watch tag-orascom-construction tag-osama-bishai tag-renewable-energy 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>Orascom Construction looks to be eyeing recurring revenue<\/strong> as CEO Osama Bishai tells <a href=\"https:\/\/bit.ly\/34aXAq9\">Hapi Journal<\/a> the company has appetite for investment in water management, desalination, and renewable energy. The company is also considering entering the healthcare sector, but would likely only do so by partnering with a more experienced player, said Bishai. On the flipside, OC is unlikely to invest in education or mining, or to reinvest in cement and fertilizers (industries to which OC can trace its lineage), though it would consider investments in other industrial sectors depending on the available ventures.<\/p>\n<p><strong>Opening up the economy to the private sector and sharing in the risk burden should be a key policy priority<\/strong> for the government to encourage private investments, Bishai said in the wide-ranging interview, pointing out that sharing the risk of an investment would allow businesses greater access to lending.<\/p>\n<p><strong>Is Orascom interested in a stake in the Siemens combined-cycle power plants? <\/strong>It depends on the terms of the sale, which have not been made public, said Bishai. Because of the size of the plants, the transaction would have to involve a partnership with other players, such as international funds, said Bishai.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f0213fa-f6e1-4475-8eab-06702593f3aa\">Six investors<\/a><\/strong><strong> have already expressed interest in acquiring stakes<\/strong>, <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants-6971\/\">including Actis<\/a>, Blackstone Group\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/13\/zarou-is-egypts-top-contender-for-stake-in-siemens-power-plants-6237\/\">Zarou<\/a>, France\u2019s Engie, China Datang Overseas, and Edra Holding. The three combined-cycle power plants of 4.8 GW each were developed by Siemens and partners including Orascom Construction. The transaction could wrap as early as this year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/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\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-bishai\/\">Osama Bishai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/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=\"567982\" 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=\"567982\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/\">\r\n                            Russia, our biggest wheat supplier, is mulling a grain tax                        <\/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\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/\" 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\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/')\">\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\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/\">\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=Russia, our biggest wheat supplier, is mulling a grain tax&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/\">\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\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/&title=Russia, our biggest wheat supplier, is mulling a grain tax\">\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=Russia%2C+our+biggest+wheat+supplier%2C+is+mulling+a+grain+tax+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Frussia-our-biggest-wheat-supplier-is-mulling-a-grain-tax%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\/14\/russia-our-biggest-wheat-supplier-is-mulling-a-grain-tax\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567982\" class=\"content-area-description single-story post-567982 post type-post status-publish format-standard hentry category-commodities tag-commodities tag-enterpriseam tag-food-security tag-russia 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>Egypt\u2019s largest wheat supplier is planning to impose a temporary tax <\/strong><strong>and maximum quota on grain exports<\/strong> in a bid to boost local supply and stabilize prices, sources close to Russian government discussions told <a href=\"https:\/\/www.reuters.com\/article\/idINL1N2IR0OW?edition-redirect=ca\">Reuters<\/a>. The tax could be between USD 27-30 per tonne of wheat, and it could be applied alongside a quota on exports of wheat, rye, barley and maize. The quota could be set at 17.5 mn tonnes for all grains, a source suggests to the newswire.<\/p>\n<p><strong>Egypt has made record purchases of Russian wheat since the start of the pandemic <\/strong>to ensure its strategic stockpile and curb any possible wheat shortages. Russian wheat constituted 80% of Egypt\u2019s wheat purchases <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f927d6e4-0d10-4d72-8de5-db92560e6c9b\">last season<\/a>, with 2.5 mn tonnes bought as of August and more expected to come.<\/p>\n<p><strong>The tax might not necessarily translate into a considerably higher final price per tonne<\/strong>, which will limit its impact on Egypt, Pharos Holding\u2019s head of research Radwa El Swaify told Enterprise yesterday. If anything, the increase might prompt the Finance Ministry to take out hedging contracts and guard against rising grain prices, El Swaify added.<\/p>\n<p><strong>The government is mulling purchasing derivative contracts to protect against rising grain prices<\/strong>, alongside hedging against rising oil prices, Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/445b5f6e-59f5-429f-95ab-e917db910118\">recently said<\/a>. This option had been floated several times in recent years due to Egypt\u2019s heavy dependence on wheat imports. Wheat futures are currently trading at <a href=\"https:\/\/markets.businessinsider.com\/commodities\/wheat-price\">USD 210.7<\/a> per metric ton, slightly above the USD 199.5 price assumed in the state budget.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567983\" 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=\"567983\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/567983\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567983\" class=\"content-area-description single-story post-567983 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/SODIC-Karmell-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\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=\"567984\" 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=\"567984\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/\">\r\n                            El Nasr to sign final contracts for EV production with Dongfeng this month                        <\/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\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/\" 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\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/')\">\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\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/\">\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=El Nasr to sign final contracts for EV production with Dongfeng this month&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/\">\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\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/&title=El Nasr to sign final contracts for EV production with Dongfeng this month\">\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=El+Nasr+to+sign+final+contracts+for+EV+production+with+Dongfeng+this+month+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Fel-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month%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\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/243.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"567985\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/243-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/243.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"243.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/243.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/243.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567984\" class=\"content-area-description single-story post-567984 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-dongfeng tag-el-nasr-automotive tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>El Nasr Automotive will sign the final contracts this month for its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de1f6f99-9bd2-4ea1-9095-5614928ea38d\">partnership with<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de1f6f99-9bd2-4ea1-9095-5614928ea38d\">China\u2019s Dongfeng<\/a><\/strong><strong> to assemble electric vehicles locally<\/strong>, El Nasr CEO Hany El Kholy tells the <a href=\"https:\/\/www.alborsaanews.com\/2020\/12\/13\/1405880\">local press<\/a>. The partnership will eventually see the assembly of 25k electric vehicles per year, and is expected to cost some EGP 2.5 bn. State coffers will cover half of the cost, El Kholy said. El Nasr Automotive was reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/912d76c7-13be-4ade-a4ec-2be0d77cd29a\">in negotiations<\/a> with a syndicate of local banks for a EGP 2 bn loan to establish the EV facility following the signing of an MoU with Dongfeng last June.<\/p>\n<p><strong>Is there an opening for private sector players to get in on the facility?<\/strong> El Kholy suggested that \u201cthe door is open\u201d for private participation in the project, although it is unclear in what capacity.<\/p>\n<p><strong>The electric vehicle assembly line will be installed in 2Q2021<\/strong>, said El Kholy, with production of the vehicles expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de1f6f99-9bd2-4ea1-9095-5614928ea38d\">begin in 4Q2021<\/a>. El Nasr is currently in talks with local suppliers to meet a local component quota of at least 50%, El Kholy said.<\/p>\n<p><strong>The government has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c2a5ea6-252b-4010-886d-85aa37ba1b5a\">proposed a number of incentives<\/a><\/strong> to promote the conversion to electric vehicles, including set charging prices and subsidies of up to 50k per vehicle. Public entities will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0424eb3f-d049-49ff-8902-dd32085d9922\">also be required<\/a> to replace 5% of their fleet every year with electric cars. Read more on the El Sisi administration\u2019s push for EVs and the logistical hurdles, including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01f0e9a3-95f3-473d-8ee9-aad4cad6d752\">establishment of costly infrastructure<\/a> such as charging stations networks, which we talk about in our weekly Hardhat vertical.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dongfeng\/\">Dongfeng<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/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=\"567986\" 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=\"567986\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\">\r\n                            Qalaa Holdings reports 3Q2020 results                        <\/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\/14\/qalaa-holdings-reports-3q2020-results\/\" 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\/14\/qalaa-holdings-reports-3q2020-results\/')\">\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\/14\/qalaa-holdings-reports-3q2020-results\/\">\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=Qalaa Holdings reports 3Q2020 results&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/qalaa-holdings-reports-3q2020-results\/\">\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\/14\/qalaa-holdings-reports-3q2020-results\/&title=Qalaa Holdings reports 3Q2020 results\">\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=Qalaa+Holdings+reports+3Q2020+results+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Fqalaa-holdings-reports-3q2020-results%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\/14\/qalaa-holdings-reports-3q2020-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567986\" class=\"content-area-description single-story post-567986 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-egyptian-refining-company tag-energy tag-enterpriseam tag-investment-watch tag-qalaa-holdings wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Qalaa Holdings reported a <\/strong><strong>consolidated net loss after minority interest of EGP 450 mn in 3Q2020<\/strong>, widening its losses from EGP 395 mn in 3Q2019, according to the company\u2019s <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/qh\/QH-3Q20-Business-Review-English.pdf\">earnings release (pdf)<\/a>. The wider loss comes despite Qalaa\u2019s top line more than doubling to EGP 8.7 bn in 3Q2020, from EGP 3.9 bn in the same quarter last year. Qalaa\u2019s flagship greenfield Egyptian Refining Company \u2014 which became fully operational <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/15\/qalaa-declares-all-units-at-erc-are-a-go\/\">back in 2019<\/a> \u2014 contributed to the bulk of the consolidated revenues, or nearly EGP 5.4 bn. Due to the pandemic and \u201ca volatile oil market,\u201d ERC booked a net loss before minority interest of EGP 1.96 bn. Qalaa\u2019s effective share in ERC currently stands at 13.1%.<\/p>\n<p><strong>Quarter on quarter<\/strong>, Qalaa\u2019s net loss after minority narrowed 36%.<\/p>\n<p><strong>Qalaa is planning \u201cto engage in a full debt restructuring\u201d for ERC next year<\/strong> \u201cas an exercise in caution and given the relative uncertainty,\u201d co-founder and Managing Director Hisham El Khazindar said. Qalaa remains, however, \u201coptimistic about ERC\u2019s long-term outlook and are encouraged by the recent uptick in oil prices following the news of a potential vaccine,\u201d said El Khazindar.<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-refining-company\/\">Egyptian Refining Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/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=\"567987\" 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=\"567987\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/bishoy-azmy-becomes-youngest-member-of-aucs-board-of-trustees\/\">\r\n                            Bishoy Azmy becomes youngest member of AUC\u2019s board of trustees                        <\/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\/14\/bishoy-azmy-becomes-youngest-member-of-aucs-board-of-trustees\/\" 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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Azmy is also a board member of the local Emirates Chapter of the Young Presidents Organization, an associate of the Chartered Institute of Arbitrators, and sits on the board of UK infrastructure contractor Costain.<\/p>\n<p><strong>Mohamed Alabbar <\/strong>is stepping down from his position as<strong> chairman of Emaar Properties <\/strong>and will hold the position of <strong>managing director<\/strong>, Emaar Properties said in a <a href=\"https:\/\/ent.news\/2020\/12\/Emaar-DFM-disclosure.pdf\">disclosure<\/a> to the Dubai Financial Market. Alabbar is stepping down to meet a regulatory requirement that chairs of listed companies not hold executive roles. Emaar Properties Vice Chairman <strong>Jamal Bin Theniyah<\/strong> has been named <strong>chairman<\/strong>.<\/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\/auc\/\">AUC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emaar-misr\/\">Emaar Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-alabbar\/\">Mohamed Alabbar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span 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      <\/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-u00w32d\" data-v=\"4\" data-block-id=\"u00w32d\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-u00w32d-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-u00w32d-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button 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         class=\"\r\n                story-section            \"\r\n            id=\"567990\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/last-nights-talk-shows-on-14-december-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 14 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  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<\/a>\r\n\r\n                \n<article id=\"post-567990\" class=\"content-area-description single-story post-567990 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterpriseam tag-last-nights-talk-shows tag-nevine-gamea tag-tarek-shawki tag-thanaweya-amma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was another night of covid-19 and the rollout of vaccines leading the conversation on<\/strong><strong> the airwaves.<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egypt is now nearing the peak of its second wave of infections, so keep wearing your masks and adhering to social distancing measures<\/strong>, member of the Health Ministry\u2019s covid-19 committee Mohamed El Nady told Kelma Akhira\u2019s Lamees El Hadidi. The transmission of the virus that causes covid-19 has become faster and more widespread over the past few weeks, El Nady said (<a href=\"https:\/\/www.youtube.com\/watch?v=bMrXM_mArD0\">watch, runtime: 12:44<\/a>).<\/p>\n<p><strong>Don\u2019t hold your breath for Pfizer: <\/strong>On the vaccine front, former Health Minister Ashraf Hatem reminded Lamees that rolling out the Pfizer vaccine here in Egypt will be difficult because of its ultra-cold transportation and storage requirements, meaning we\u2019re more likely to rely for the most part on the Sinopharm, Sputnik V, and AstraZeneca vaccines (<a href=\"https:\/\/www.youtube.com\/watch?v=jg6gtVZYcZc\">watch, runtime: 9:46<\/a>).<\/p>\n<p><strong>Sorry, kids, there\u2019s still no plan to close schools or shorten the school year.<\/strong> Thanaweya Amma exams will also proceed as planned, and will cover all parts of the curriculum, Education Minister Tarek Shawki told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=UzKSUeRsWx8\">watch, runtime: 16:54<\/a>). Any decision for a school to shut down entirely would require government approval, Shawki told El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=BZaUc6qWvMk\">watch, runtime: 11:45<\/a>). Shawki separately discussed the Global Knowledge Index ranking (which we note in Blackboard, below) with Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=5bwf_CAlxns&t=51s\">watch, runtime: 15:45<\/a>).<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Details on the government\u2019s plan to replace gasoline-fired cars with dual-fuel vehicles<\/strong> will be announced in the second half of January 2021, said Trade and Industry Minister Nevine Gamea (Lamees El Hadidi on Kelma Akhira | <a href=\"https:\/\/www.youtube.com\/watch?v=S8WJZ95gxRs\">watch, runtime: 9:08<\/a>).<\/li>\n<li><strong>The \u201cTwo is Enough\u201d family planning program has so far reached 4 mn citizens<\/strong>, campaign director Desiree Labib said (Sarah Hazem on Masaa DMC | <a href=\"https:\/\/www.youtube.com\/watch?v=QS7pYRY31tQ\">watch, runtime: 6:57<\/a>).<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nevine-gamea\/\">Nevine Gamea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawki\/\">Tarek Shawki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thanaweya-amma\/\">Thanaweya Amma<\/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=\"567991\" 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=\"567991\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-december-2020\/\">\r\n                            Everything you need to know about covid at home and abroad on 14 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\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-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\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-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\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Everything you need to know about covid at home and abroad on 14 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-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\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-december-2020\/&title=Everything you need to know about covid at home and abroad on 14 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Everything+you+need+to+know+about+covid+at+home+and+abroad+on+14+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F14%2Feverything-you-need-to-know-about-covid-at-home-and-abroad-on-14-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\/14\/everything-you-need-to-know-about-covid-at-home-and-abroad-on-14-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567991\" class=\"content-area-description single-story post-567991 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-egyptair tag-enterpriseam tag-kuwait tag-pfizer tag-sinopharm tag-tourism tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/37fEGAl\">reported<\/a><\/strong><strong> 486 new covid-19 infections yesterday<\/strong>, up from 478 the day before. Egypt has now disclosed a total of 121,575 confirmed cases of covid-19. The ministry also reported 22 new deaths, bringing the country\u2019s total death toll to 6,920.<\/p>\n<p><strong>We received our <\/strong><strong><a href=\"https:\/\/bit.ly\/3qMH4Xf\">second shipment<\/a><\/strong><strong> of China\u2019s Sinopharm vaccine yesterday<\/strong> from the UAE, after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69472ef9-9ee9-4af9-b020-309cccfa9b29\">receiving<\/a> our first shipment last Thursday. The vaccine will first be administered to frontline health workers. The UAE had reported that its own trial for the Sinopharm vaccine had shown <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abeb3580-65c6-492c-a931-1ac75085363a\">that it was 86% effective<\/a> in preventing moderate and severe cases of covid-19.<\/p>\n<p><strong>Kuwait\u2019s flight resumption with Egypt will at first be limited to evacuating <\/strong><strong>Egyptians from the Gulf country<\/strong>, an unnamed source at EgyptAir told <a href=\"https:\/\/bit.ly\/3p0mDED\">Al Shorouk<\/a>. The flights will be one way from Kuwait to Egypt and return empty without any passengers. Once the Kuwait\u2019s Civil Aviation Authority signs off on health requirements and procedures followed by EgyptAir and other airlines, two-way travel will be resumed as well, a separate unnamed Kuwaiti source added.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinopharm\/\">Sinopharm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567992\" 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=\"567992\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/what-the-markets-are-doing-on-14-december-2020\/\">\r\n                            What the markets are doing on 14 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\/14\/what-the-markets-are-doing-on-14-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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Regional investors were net buyers. The index is down 21.2% YTD.<\/p><p><strong>In the green: <\/strong>Orascom Development (+3.2%), Egyptian Iron &amp; Steel (+1.7%) and Dice (+1.7%).<\/p><p><strong>In the red: <\/strong>Edita (-1.6%), Beltone Financial Holding (-1.1%) and Heliopolis Housing (-1%).<\/p><p><strong>Asian markets are largely up this morning<\/strong> and futures suggest Wall Street and much of Europe will follow suit later today.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,004<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -21.2%)<\/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 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>8,644<\/p>\n<\/td>\n<td>\n<p>-% (YTD: 3.0%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>5,140<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: 1.3%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,546<\/p>\n<\/td>\n<td>\n<p>-% (YTD: -7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,663<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +13.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,546<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -13.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 50.05<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.66<\/p>\n<\/td>\n<td>\n<p>+2.3%<\/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 1,838.30<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/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 19,094.48<\/p>\n<\/td>\n<td>\n<p>+1.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>Brent crude rose above USD 50 for the first time since March<\/strong> as global lockdowns ease and the hope of a vaccine rollout boosts demand, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-13\/oil-rises-from-the-ashes-as-the-big-coronavirus-recovery-trade?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. Oil demand in India, China, and Japan is nearly at pre-covid levels.<\/p><p><strong>How much is Tesla worth? Depends on whether you like Elon. It really does. <\/strong>Wall Street pundits are miles apart when it comes to Tesla\u2019s share valuation, with JPMorgan Chase setting a target as low as USD 90 a share and Goldman Sachs penciling in USD 780, says <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-12\/are-tesla-s-shares-worth-90-or-780-wall-street-can-t-decide?sref=mmeFTDW1\">Bloomberg<\/a>. \u201cIt\u2019s whatever people want to believe Elon Musk is touting,\u201d hedge fund manager Jim Chanos said. The simple explanation for Tesla\u2019s share price, which has ballooned nearly tenfold year-to-date, is that it\u2019s not based on what Tesla currently does, but rather what it can do (or hope to do) in the future: \u201ctransform the century-old automobile industry.\u201d<\/p><p><strong>Thematic exchange-traded funds <\/strong>\u2014 <strong>or ETFs tied to economic, geopolitical, or<\/strong> <strong>technological trends \u2014 could be in for a boost in 2021<\/strong> as investors are increasingly looking for \u201cnarrower ways to play,\u201d two analysts told <a href=\"https:\/\/www.cnbc.com\/2020\/12\/12\/three-themes-that-could-drive-etf-growth-in-2021.html\">CNBC\u2019s \u201cETF Edge\u201d<\/a> last week. One example is the Renaissance Capital IPO ETF, which benefited tremendously from 2020 unexpectedly turning into a blockbuster year for <a href=\"https:\/\/www.wsj.com\/articles\/tech-ipo-bonanza-yields-riches-for-venture-capital-firms-11607714745?mod=hp_lead_pos6\">stock market debuts<\/a>, especially tech IPOs. The IPO ETFs ties its investors to stock market listings, giving them exposure to significant new entrants.<\/p><p><strong>Another interesting concept is a \u201cfractional share,\u201d <\/strong>a way for small investors to buy into the broader market through pieces of shares in high-value companies including Apple and Tesla. This allows those with capital as little as USD 50 to make gains from trends and even invest in index-tracking ETFs, says <a href=\"https:\/\/www.wsj.com\/articles\/when-the-robinhood-crowd-buys-for-the-long-haul-11607769001\">the Wall Street Journal<\/a>. Stock broker <a href=\"https:\/\/robinhood.com\/us\/en\/support\/articles\/fractional-shares\/\">Robinhood<\/a>, which opened over 3 mn new accounts this year, began offering this service in May.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"567993\" 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=\"567993\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/around-the-world-on-14-december-2020\/\">\r\n                            Around the world on 14 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\/14\/around-the-world-on-14-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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The Dubai-based port operator <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2355aec-3ee0-401e-b671-b0106a9bc32d\">in September<\/a> signed partnership agreements that could set up a shipping route to Israel. UAE-based Med-Red Land Bridge has also, following the UAE\u2019s normalization agreement with the Jewish state in August, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a0c6f0c-5606-4356-bddb-7fd353cac8d2\">opened talks<\/a> with Israel\u2019s state-owned Europe Asia Pipeline Co on an oil route to Europe that could bypass Egypt\u2019s Suez Canal, challenging Egypt\u2019s ambitions to emerge as a hub for regional energy exports.<\/p>\n<p><strong>IN DIPLOMACY- President Abdel Fattah El Sisi <\/strong>talked cooperation on counter-terrorism in the Sahel as well as the situation in Libya <a href=\"https:\/\/bit.ly\/3qTkLPC\">on a call<\/a> with Mauritanian President Mohamed Ould Ghazouani. Meanwhile, Egypt will <a href=\"https:\/\/bit.ly\/3a3TLa8\">launch<\/a> this month its <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f29565a7-3bd3-4680-9346-9758cf97e62d\">\u2018Gosoor\u2019<\/a><\/strong><strong> program<\/strong> aiming to improve access to African markets.<\/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\/around-the-world\/\">Around the World<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-islamic-trade-finance-corporation\/\">International Islamic Trade Finance Corporation<\/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\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"567994\">\r\n    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  <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">14<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/2020-in-review-covid-19-has-upended-education-provision-but-investment-is-still-solid\/\">\r\n                            2020 in review: covid-19 has upended education provision but investment is still solid<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/2020-in-review-covid-19-has-upended-education-provision-but-investment-is-still-solid\/\" 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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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"567995\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/2020-in-review-covid-19-has-upended-education-provision-but-investment-is-still-solid\/246-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/246.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"246.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/246.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/246.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-567994\" class=\"content-area-description post-567994 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-covid-19 tag-e-finance tag-education tag-education-loans tag-education-stocks tag-efg-hermes tag-enterprise-blackboard tag-enterpriseam tag-gems tag-google-classroom tag-thanaweya-amma tag-tuition-disputes tag-undp tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Year in Review Part 1- Education proves its mettle as a defensive sector in the <\/strong><strong>face of covid: <\/strong>In a tumultuous year, education providers have come under heavy scrutiny for their ability to meet demand (or not) through online and blended learning, and exam management. But as a sector, education remains robust, with stocks resilient and CAPEX investment steady.<\/p>\n<p><strong>Covid school closures in March spurred a sudden <\/strong><strong>move<\/strong><strong> online:<\/strong> Some schools and universities <a href=\"https:\/\/enterprise.press\/blackboards\/blackboard-5\/\">deployed tools<\/a> already in use, like <a href=\"https:\/\/classroom.google.com\/h\">Google Classroom<\/a> or <a href=\"https:\/\/enterprise.press\/blackboards\/auc-adapting-education-covid-19\/\">their own learning systems<\/a>, while others created new ones, including online lessons in video format. Teachers had to quickly adapt to new ways of lesson delivery and longer preparation times, while schools <a href=\"https:\/\/enterprise.press\/blackboards\/told-us-thought-e-learning-took-feedback-schools\/\">upped their teacher training<\/a> and investment in online learning infrastructure.<\/p>\n<p><strong>And while educators were <\/strong><strong><a href=\"https:\/\/enterprise.press\/blackboards\/covid-19-transforming-think-online-learning\/\">initially optimistic<\/a><\/strong><strong>, t<\/strong><strong>he covid reality was different \u2014 and parents, children and teachers all felt the strain. <\/strong>Full-time online learning <a href=\"https:\/\/enterprise.press\/blackboards\/really-think-e-learning\/\">was widely criticized<\/a> for not being interactive and relying too much on parental involvement. Online learning platforms are reasonably good for delivering content and submitting assignments, but not for student assessment or facilitating communication, parents said. There was particular pressure on working parents, and those with small children.<\/p>\n<p><strong>Most see blended learning as a step in the right direction: <\/strong>With the new school year, blended learning models have enabled a partial return to the classroom. Schools generally <a href=\"https:\/\/enterprise.press\/blackboards\/debate-back-school-intensifies-egypts-private-schools-prefer-gradual-transition-back-classroom-fall\/\">lobbied for blended learning<\/a>, despite increased costs <a href=\"https:\/\/enterprise.press\/blackboards\/faced-rising-costs-private-schools-clashing-parents-tuition-fees-increase-upcoming-academic-year\/\">of at least 8-10%<\/a> including continued investment in online platforms and infrastructure, extra sanitation and operational measures. Blended learning <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9266c812-0ea1-4bea-9bb5-57d67e1831b3\">is widely preferred<\/a>, but the online component still needs to be more interactive, and social distancing needs to be more strongly enforced in the classroom, parents feel.<\/p>\n<p><strong>But who should bear the increased costs was a contentious issue: <\/strong>An ongoing tuition dispute saw <a href=\"https:\/\/enterprise.press\/blackboards\/dispute-brewing-parents-private-schools-tuition-relief\/\">some parents push<\/a> for deferment of 15% of total 2019-20 fees and partial refunds for services like transportation and on-campus activities. While some top-tier private and international schools offered deferments, improved pay structures, and even refunds where possible, some other private national schools pushed for overdue fees and early installments for the 2020-21 academic year. Some even <a href=\"https:\/\/enterprise.press\/blackboards\/faced-rising-costs-private-schools-clashing-parents-tuition-fees-increase-upcoming-academic-year\/\">lobbied the education ministry<\/a> to let them raise fees beyond the 7% cap on annual tuition hikes, to shoulder the extra costs of blended learning. The dispute <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99fb4679-2872-47b0-a9a2-c849bbfeabc7\">remains unresolved<\/a>.<\/p>\n<p><strong>Despite it all, education stocks outperformed the benchmark EGX30 and traditionally strong market performers like banks. <\/strong>Education services are currently <a href=\"https:\/\/www.egx.com.eg\/en\/Indices.aspx\">up 13.82% YTD<\/a>, while the benchmark EGX30 is <a href=\"https:\/\/www.egx.com.eg\/en\/homepage.aspx\">down 21.25% YTD<\/a> and banks <a href=\"https:\/\/www.egx.com.eg\/en\/Indices.aspx\">down 16.81%<\/a> since the start of the year. The <a href=\"https:\/\/enterprise.press\/blackboards\/education-proves-strength-defensive-sector-midst-corona-market-meltdown\/\">covid-19 market meltdown<\/a> in early March did impact education stocks, but they saw only about half the dip of the EGX30. Since bouncing back, they\u2019ve gone from strength to strength. <a href=\"https:\/\/enterprise.press\/blackboards\/education-stocks-weathered-covid-19-storm-equity-markets-dragged-industries\/\">In August<\/a>, education services were up 5.22% YTD after being down 6.68% YTD in early March, and they\u2019ve continued to climb steadily.<\/p>\n<p><strong>We saw this strong defensive play because the education sector is in itself resilient<\/strong>, industry insiders kept telling us. Education remains a priority irrespective of social upheaval, as demonstrated in 2011 when parents continued to pay tuition fees despite school closures. Online learning challenges and tuition fee disputes didn\u2019t negatively impact investor sentiment or lead to dips in equity performance after the initial March blip. Appetite has remained strong throughout the pandemic, said one education provider. \u201cInvestors have a very growth-focused mindset and they know that the population is growing, which means demand for education services will continue to grow as well.\u201d<\/p>\n<p><strong>Continued demand for education services also fueled growing CAPEX investment: <\/strong>CAPEX spending remained substantial throughout 2020, with large operators maintaining their investment levels despite some delays in execution. One provider reported an extra 15-20% rise in CAPEX spending. High levels of greenfield activity were reported throughout the year, and enrollment at some top-tier international schools actually exceeded projections. Overall, CAPEX investment in Egypt is <a href=\"https:\/\/enterprise.press\/blackboards\/education-proves-defensive-metal-face-covid-19-capex-side\/\">expected to keep growing<\/a>, despite delays in planned construction of new buildings and facilities, and an increase in OPEX spending.<\/p>\n<p><strong>So what can we expect in 2021? <\/strong>In the absence of a return to full-time classroom learning, the pressure will be on schools to refine their blended learning models and take the burden off stressed parents, children and teachers. International exam providers will want to avoid <a href=\"https:\/\/enterprise.press\/blackboards\/will-current-sat-cancellations-permanently-change-outlook-sats-egypt\/\">a repeat of 2020\u2019s widespread confusion<\/a>, so we should expect a slicker rollout \u2014 with more emphasis on online exams. And we expect education to consolidate its position as a solid investment prospect, with construction and CAPEX spending accelerating and stocks holding strong.<\/p>\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Egypt jumped 10 places in UNDP\u2019s <\/strong><strong><a href=\"https:\/\/knowledge4all.com\/ScoreCard2020.aspx?id=1&language=en\">Global Knowledge Index<\/a><\/strong>, ranking 72 out of 134 countries, compared to 82 in 2019. The country\u2019s biggest jump in 2020 was in the Pre-University Education Index where Egypt now ranks 83.<\/li>\n<li><strong>Thanaweya Amma exams will be electronically administered<\/strong> and students will be able to sit for the same exams several times each year and pick their highest grade, as part of the state exam revamp approved by the cabinet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a1222a3-64da-4a69-9825-f9368b26fa6b\">last week<\/a>.<\/li>\n<li><strong>Students will take a demo exam<\/strong> of the new electronic Thanaweya Amma exam tomorrow, reports <a href=\"https:\/\/dailynewsegypt.com\/2020\/12\/12\/egypts-high-school-students-to-take-demo-exam-on-new-electronic-system\/\">the local press<\/a>.<\/li>\n<li><strong>Hospitality school to open in New Alamein:<\/strong> One of the world\u2019s top hospitality schools, Switzerland\u2019s Ecole h\u00f4teli\u00e8re de Lausanne, is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8082b2c0-116d-4a3d-ad28-a1062dccb303\">opening a branch<\/a> in New Alamein.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-loans\/\">education loans<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-stocks\/\">education stocks<\/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\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google-classroom\/\">Google Classroom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thanaweya-amma\/\">Thanaweya Amma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tuition-disputes\/\">tuition disputes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/undp\/\">UNDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"567996\" 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\/14\/calendar-on-14-december\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-567996\" class=\"content-area-description single-story post-567996 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 meeting 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>14 December (Monday): Final results will be announced for Parliamentary elections held in Cairo, Dakahlia, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/p>\n<p>14 December (Monday): Al Ahram Energy Conference, Cairo, Egypt.<\/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 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>13-17 December 2021: <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/396604\/Egypt\/Politics-\/Egypt-to-host-UN-anticorruption-conference-in-.aspx\">United Nations Convention against Corruption<\/a>, Sharm El Sheikh, Egypt.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":567970,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-567969","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6690cd4c-7eba-4aef-98de-b83114a0a68c","teaser":"","photo_url":"https:\/\/ent.news\/2020\/12\/233.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The debt market is looking really good heading into 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/the-debt-market-is-looking-really-good-heading-into-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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