{"id":568243,"date":"2020-12-23T03:47:36","date_gmt":"2020-12-23T03:47:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=568243"},"modified":"2025-12-16T06:15:40","modified_gmt":"2025-12-16T06:15:40","slug":"at-last-the-year-end-news-slowdown-has-begun-touch-wood","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/at-last-the-year-end-news-slowdown-has-begun-touch-wood\/","title":{"rendered":"At last, the year-end news slowdown has begun (touch wood)"},"content":{"rendered":"<section id=\"568245\" 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=\"568245\">\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\/23\/what-were-tracking-on-23-december-2020\/\">\r\n                            What we\u2019re tracking on 23 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\/23\/what-were-tracking-on-23-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\/23\/what-were-tracking-on-23-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\/23\/what-were-tracking-on-23-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 23 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/what-were-tracking-on-23-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\/23\/what-were-tracking-on-23-december-2020\/&title=What we\u2019re tracking on 23 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+23+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fwhat-were-tracking-on-23-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\/23\/what-were-tracking-on-23-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568245\" class=\"content-area-description single-story post-568245 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-enterpriseam tag-interest-rates tag-legislation tag-monetary-policy tag-tax 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, wonderful people, and welcome to Christmas Eve Eve<\/strong>, for those of you who are observing. We can\u2019t say we\u2019re very interested in asking mom and dad for early permission to open <em>just one gift <\/em>that 2020 has left for us under the tree.<\/p><p><strong>The big story this morning: Rania Al Mashat\u2019s International Cooperation Ministry is out with <\/strong><strong>an annual report. <\/strong>Bilingual, with a motion graphics summary for those of us who have the attention spans of fruit flies. It\u2019s smart policy and transparency in one go \u2014 we have the rundown and links in this morning\u2019s news well, below.<\/p><p><strong>What\u2019s up with the mutant virus market meltdown? <\/strong>US markets were mixed yesterday as optimism over vaccine rollouts and relief packages tempered fears of the spread of a new strain of covid-19, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-21\/asian-stocks-to-drop-on-virus-angst-dollar-gains-markets-wrap?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. <strong>Asian shares are up this morning, but futures suggest Wall Street and much of Europe will open in the red <\/strong>later today.<\/p><p><strong>The end of year news slowdown appears to have finally begun<\/strong> (may we all give thanks and praise \u2014 and simultaneously touch wood). One industry that\u2019s giving no sign of slowing down: The fast-growing non-bank financial services sector in general, and the consumer finance business in particular. Witness news yesterday that EFG Hermes\u2019 <strong>Valu<\/strong> will <a href=\"https:\/\/bit.ly\/3mIwZr9\">offer finance<\/a> to shoppers at <strong>Majid Al Futtaim<\/strong> malls and that <strong>Mastercard<\/strong> has inked an agreement with <strong>Carticard<\/strong> \u2014 a partner of <a href=\"http:\/\/egabifsi.com\/\">Egabi FSI<\/a> \u2014 that will allow the Egyptian company to sell loans directly through prepaid cards.<\/p><p><strong>Wait, isn\u2019t it supposed to be the other way around? <\/strong>Our inner Egyptian nationalist nevertheless welcomes news that <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-22\/saudi-arabia-sees-foreign-investment-boost-from-india-egypt?sref=mmeFTDW1\">Egypt is leading an FDI surge<\/a><em><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-22\/saudi-arabia-sees-foreign-investment-boost-from-india-egypt?sref=mmeFTDW1\">into<\/a><\/em><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-22\/saudi-arabia-sees-foreign-investment-boost-from-india-egypt?sref=mmeFTDW1\">Saudi Arabia<\/a>. Bloomberg reports that \u201cSaudi Arabia granted 20% more foreign investment licenses in the third quarter compared to the same period last year, with India and Egypt driving the increase despite efforts to attract American and European interest.\u201d <strong>The kingdom issued nearly 2x as many licenses to Egyptian firms<\/strong> in 3Q as it did to either British or Lebanese outfits.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>The UAE is rolling out the Sinopharm vaccine to its entire adult population without <\/strong><strong>charge<\/strong>, <a href=\"https:\/\/www.ft.com\/content\/538db451-b165-4754-be53-da29b268e227\">the Financial Times<\/a> reports. Emirati frontline healthcare workers have been receiving the jabs since September when it was given emergency authorization. Some 1 mn nationals and more than 8 mn foreign residents will now be given access to the shot.<\/p><p><strong>Yes, vaccines are halal:<\/strong> Any shots that use pig derivatives are still halal, Dar Al Iftaa\u2019s Khaled Omran told 90 Minutes\u2019 Osama Kamal, assuaging fears from some Muslims that the vaccines could be religiously prohibited (<a href=\"https:\/\/www.youtube.com\/watch?v=slLFUgYWmUg\">watch, runtime: 5:58<\/a>). Pork gelatin is a common ingredient in vaccines and works to increase their shelf life.<\/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><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>It\u2019s interest rate day tomorrow:<\/strong> The Central Bank of Egypt meets tomorrow for its final monetary policy meeting of 2020. All 10 analysts and economists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/adc7216b-dc04-42bf-bfe7-af6108c43533\">we spoke to earlier this week<\/a> expect us to see out the remainder of the year with interest rates unchanged. The CBE has cut rates by 400 bps so far this year, leaving the overnight rate at 8.25% and the lending rate at 9.25%.<\/p><p><strong>Taxpayers have until 31 December to file for a settlement <\/strong>under legislative provisions that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ac71923-d25f-4737-b794-a57cb8c44f9a\">passed earlier this year<\/a>, said <a href=\"https:\/\/alborsaanews.com\/2020\/12\/22\/1407998\">Hesham El Hamawy<\/a>, the Finance Ministry\u2019s advisor for tax disputes.<\/p><p><strong>HOLIDAY HAPPENINGS-<\/strong><\/p><p><strong>The NYSE, Nasdaq and LSE will all run shorter trading sessions tomorrow <\/strong>in observance of Christmas Eve.<\/p><p><strong>The EGX and banks in Egypt are typically closed on 1 January <\/strong>to close their fiscal years. Look for an announcement next week that 31 December will be off instead.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Part 2 of our Year in Review looks at how infrastructure development had to adapt to the turbulence this year through digitization and diversification. From the rise of digital services and digital payments to the development of the smart grid, digitizing our infrastructure was a major theme in 2020 and looks set to continue next year. Meanwhile, the government\u2019s plan to transition to natgas cars became the biggest infrastructure diversification move of the year, while green bonds became the testing ground for our debt diversification strategy.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"568246\" 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=\"568246\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/568246\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568246\" class=\"content-area-description single-story post-568246 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-FAM-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568247\" 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=\"568247\">\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\">SMART POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-year-in-development-finance\/\">\r\n                            The year in development finance                        <\/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\/23\/the-year-in-development-finance\/\" 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\/23\/the-year-in-development-finance\/')\">\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\/23\/the-year-in-development-finance\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The year in development finance&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-year-in-development-finance\/\">\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\/23\/the-year-in-development-finance\/&title=The year in development finance\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+year+in+development+finance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fthe-year-in-development-finance%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\/23\/the-year-in-development-finance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/391.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"568248\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-year-in-development-finance\/391-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/391.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"391.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/391.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/391.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568247\" class=\"content-area-description single-story post-568247 post type-post status-publish format-standard has-post-thumbnail hentry category-smart-policy tag-ebrd tag-enterpriseam tag-european-investment-bank tag-international-cooperation-ministry tag-international-finance-corporation tag-rania-al-mashat tag-smart-policy tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The International Cooperation Ministry marshaled USD 9.8 bn to finance development <\/strong><strong>projects in 2020<\/strong>, with USD 6.7 bn allocated to government projects and USD 3.1 bn going to support the private sector, Minister Rania Al Mashat said yesterday during the launch of the ministry\u2019s <a href=\"https:\/\/ent.news\/2020\/12\/MOIC_Magazine_English_-Interactive.pdf\">annual report (pdf)<\/a>. Al Mashat \u2014 who took over the ministry <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/23\/meet-your-new-cabinet-8910\/\">a year ago<\/a> \u2014 reviewed the measures taken by the government at large during the year to confront the repercussions of the \u201cextremely difficult\u201d pandemic. These measures include new financial policies, interest rate cuts, tax breaks, reducing energy prices for the industrial sector, and support for day laborers.<\/p>\n<p><strong>The transport sector received the most public sector financing this year at USD 1.7 bn<\/strong>, followed by water and sanitation with USD 1.4 bn, and energy with USD 677 mn. Budget support and social solidarity initiatives received USD 638 mn and USD 505 mn respectively.<\/p>\n<p><strong>The European Investment Bank provided the most financing for the private sector, earmarking USD 1.9 bn this year<\/strong>, followed by the European Bank for Reconstruction and Development with USD 641 mn and the International Finance Corporation with USD 421 mn. Al Mashat highlighted the effectiveness of initiatives taken by international institutions during covid-19 such as the World Bank\u2019s <a href=\"https:\/\/www.worldbank.org\/en\/news\/factsheet\/2020\/06\/02\/world-banks-response-to-covid-19-coronavirus-in-africa\">USD 50 bn response fund<\/a> targeting Africa.<\/p>\n<p><strong>Next year will see the private sector receive more financing, said Al Mashat<\/strong>, who highlighted green projects as a priority sector.<\/p>\n<p><strong>Want to hear more on the report?<\/strong> Al Mashat had a chat with each of Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=0ClwnHzYVPo\">watch, runtime: 8:11<\/a>) and Masaa DMC\u2019s Ramy Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=YEwjf8G9wKw\">watch, runtime: 4:40<\/a>) to recap the broad strokes of the report and the year in development finance for Egypt.<\/p>\n<p><strong>Want the tl;dr version? <\/strong><strong><a href=\"https:\/\/bit.ly\/3mEsBJH\">Watch it here (runtime: 1:30)<\/a><\/strong><strong>.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-cooperation-ministry\/\">International Cooperation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smart-policy\/\">SMART POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568249\" 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=\"568249\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\">\r\n                            Groundhog day                        <\/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\/23\/groundhog-day\/\" 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\/23\/groundhog-day\/')\">\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\/23\/groundhog-day\/\">\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=Groundhog day&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/\">\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\/23\/groundhog-day\/&title=Groundhog day\">\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=Groundhog+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fgroundhog-day%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\/23\/groundhog-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/392.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"568250\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/groundhog-day\/392-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/392.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"392.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/392.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/392.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568249\" class=\"content-area-description single-story post-568249 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-egyptian-commodities-exchange tag-enterpriseam tag-internal-trade-development-authority 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>The launch of the long-awaited commodities exchange (Egycomex) has again <\/strong><strong>been delayed<\/strong>, after Internal Trade Development Authority (ITDA) Chairman and Egycomex head <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d41d4a55-26e7-48e2-a7ed-fa8a4d024224\">Ibrahim Ashmawy<\/a> told <a href=\"https:\/\/bit.ly\/37DyORO\">Al Mal<\/a> that it now won\u2019t be seeing the light of day until the second half of 2021. Sources had initially hinted at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75cc4fe3-c649-41cd-83b3-f999dec7badc\">a September 2020 start date<\/a>, which was later <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">pushed back to 1H2021<\/a> before yesterday\u2019s news.<\/p>\n<p><strong>What can you trade? <\/strong>Ashmawy is now saying that wheat, oil, sugar, rice, iron and gold will all be accessible to traders from the get-go. He had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5b51152-7fc0-4084-8b84-8a767cb6260a\">first told us<\/a> that traders would be able to buy and sell wheat, oil, sugar and rice at launch, but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">a few months later said<\/a> that only wheat will be tradeable at first.<\/p>\n<p><strong>The private sector has gotten its foot in the door:<\/strong> EFG Hermes, Beltone and CI Capital will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/448d2768-4310-463e-af98-dcd93cbfd05a\">represent the private sector<\/a> in the exchange that is otherwise dominated by state players. The firms will share a 49% stake with the National Bank of Egypt, Banque Misr and the Agricultural Bank of Egypt, while the remainder will be held by the EGX, the Internal Trade Development Authority, the General Authority For Supply Commodities, the Egyptian Holding Company for Silos and Storage, Misr Holding Company, and Misr for Central Clearing Depository and Registry.<\/p>\n<p><strong>WHILE WE\u2019RE TALKING COMMODITIES- This year\u2019s domestic wheat harvest is expected to yield an extra 1 mn tonnes<\/strong>, for a total of 9 mn tonnes, <a href=\"https:\/\/bit.ly\/3nHuCpK\">Al Mal<\/a> reports. The Agriculture Ministry is banking on a newly planted hybrid wheat variety and improved irrigation techniques to provide productivity gains. This would allow Egypt \u2014 the world\u2019s largest wheat importer \u2014 to reduce its reliance on foreign supply and import 13 mn tonnes to meet its 21 mn tonne domestic consumption needs.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-commodities-exchange\/\">Egyptian Commodities Exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/internal-trade-development-authority\/\">Internal Trade Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568251\" 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=\"568251\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\">\r\n                            Sign of the times for cement                        <\/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\/23\/sign-of-the-times-for-cement\/\" 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\/23\/sign-of-the-times-for-cement\/')\">\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\/23\/sign-of-the-times-for-cement\/\">\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=Sign of the times for cement&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/\">\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\/23\/sign-of-the-times-for-cement\/&title=Sign of the times for cement\">\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=Sign+of+the+times+for+cement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fsign-of-the-times-for-cement%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\/23\/sign-of-the-times-for-cement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"568252\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/sign-of-the-times-for-cement\/394-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"394.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/394.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568251\" class=\"content-area-description single-story post-568251 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-construction tag-enterpriseam tag-ma-watch tag-manufacturing tag-suez-cement 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>Suez Cement is going to go private after trying to buy out as many minority shareholders as possible<\/strong>. Shareholders sold some 12.4 mn shares for EGP 92.7 mn to Suez parent company Heidelberg Cement, the EGX <a href=\"https:\/\/ent.news\/2020\/12\/Suez-Cement-MTO.png\">said<\/a> without giving further details. Heidelberg <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de85716b-4f7a-4be9-a9d2-ea4b0179491b\">had targeted<\/a> 59.8 mn shares at a MTO price of EGP 7.5 a share. This would\u2019ve given it ownership of the remaining 33% it doesn't already hold.<\/p>\n<p><strong>Now that the MTO is over, Heidelberg Cement will take Suez\u2019s shares off the EGX. <\/strong><a href=\"https:\/\/ent.news\/2020\/12\/Suez-Cement-delising.pdf\">A regulatory filing (pdf)<\/a> earlier this month said that the Suez board had given the go-ahead to the German parent to purchase the shares of shareholders objecting to the delisting plan or negatively affected by it at the MTO price. Suez Cement subsidiary Tourah Cement, which is indirectly owned by Heidelberg, is also part of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/012a3e7f-30f4-4a21-9201-570102aeaef4\">same plan<\/a>.<\/p>\n<p><strong>What\u2019s going on? <\/strong>The cement industry in Egypt has been suffering for years from a drawn out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66ab8fe3-9738-431a-82d6-dea8f9ecac6a\">supply glut<\/a> that has seen producers bleed cash, potentially leaving as many as six players <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b9a69a8-c5bc-4f4a-b99a-f4475543bd8a\">on the cusp of exiting the market<\/a>. Tourah Cement <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\">suspended operations<\/a> last year, and is currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3344fbed-245d-4ec3-9d37-e1fbfd2ade67\">struggling to return to get into the black<\/a>. Suez Cement\u2019s losses have also been widening in recent quarters, with sales struggling to pick up.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-cement\/\">Suez Cement<\/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=\"568253\" 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=\"568253\">\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\">DISPUTE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/revenge-of-the-luddites-part-ii\/\">\r\n                            Revenge of the Luddites, Part II                        <\/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\/23\/revenge-of-the-luddites-part-ii\/\" 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\/23\/revenge-of-the-luddites-part-ii\/')\">\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\/23\/revenge-of-the-luddites-part-ii\/\">\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=Revenge of the Luddites, Part II&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/revenge-of-the-luddites-part-ii\/\">\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\/23\/revenge-of-the-luddites-part-ii\/&title=Revenge of the Luddites, Part II\">\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=Revenge+of+the+Luddites%2C+Part+II+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Frevenge-of-the-luddites-part-ii%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\/23\/revenge-of-the-luddites-part-ii\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/395.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"568254\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/revenge-of-the-luddites-part-ii\/395-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/395.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"395.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/395.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/395.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568253\" class=\"content-area-description single-story post-568253 post type-post status-publish format-standard has-post-thumbnail hentry category-dispute-watch tag-dispute-watch tag-enterpriseam tag-ibnsina-pharma tag-pharmacists-syndicate 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>The Pharmacists Syndicate is taking its beef with the 21st century <\/strong><strong>to 3elagi, filing a lawsuit yesterday against the digital pharmacy platform <\/strong>for selling directly to consumers without a pharmacist as an intermediary, <a href=\"https:\/\/bit.ly\/2WGbFrr\">Masrawy<\/a> reports. The case accuses the app of contravening a 1955 law that says only pharmacies and hospitals can sell meds to consumers. The lawsuit also accuses the company of violating article 27 of the Cybercrimes Act, which criminalizes the use of the internet to aid in committing a crime.<\/p>\n<p><strong>The syndicate already picked this bone with distributor Ibnsina Pharma<\/strong>, calling for a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70200699-99db-4429-9c60-bb8426702b15\">boycott of the company<\/a> after Ibnsina said it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce1c5ed4-2fb9-4921-9ab6-fdd84a8c875a\">planned<\/a> to acquire a 75% stake in the app\u2019s mother company, 3elagi Tech. Ibnsina denied wrongdoing but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ebc1d87e-c2e7-4605-bd59-e69813489159\">walked away from the purchase<\/a> last week. Pharmacists are Ibnsina\u2019s core customers.<\/p>\n<p><strong>3elagi links customers to stores around the country<\/strong> offering direct delivery. The company\u2019s website claims its algorithm selects pharmacists based on their prices and location. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/059a9cc6-a795-43bc-a043-ba9682d3d6a5\">Yodawy<\/a> uses a similar model, but its business model emphasizes benefit management for ins companies. The Pharmacists Syndicate has long <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70200699-99db-4429-9c60-bb8426702b15\">acted as a gatekeeper<\/a> to the profession and insists that any sale of medicines outside of brick and mortar pharmacies (owned by an individual, licensed druggist) is illegal.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibnsina-pharma\/\">Ibnsina Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharmacists-syndicate\/\">Pharmacists Syndicate<\/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=\"568255\" 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=\"568255\">\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\">SHIPPING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/\">\r\n                            The Suez Canal is preparing for another trade slowdown                        <\/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\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/\" 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\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/')\">\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\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Suez Canal is preparing for another trade slowdown&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/\">\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\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/&title=The Suez Canal is preparing for another trade slowdown\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Suez+Canal+is+preparing+for+another+trade+slowdown+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fthe-suez-canal-is-preparing-for-another-trade-slowdown%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\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/396.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"568256\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-suez-canal-is-preparing-for-another-trade-slowdown\/396-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/396.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"396.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/396.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/396.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568255\" class=\"content-area-description single-story post-568255 post type-post status-publish format-standard has-post-thumbnail hentry category-shipping tag-enterpriseam tag-foreign-exchange tag-logistics tag-policy tag-shipping tag-suez-canal tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>More breaks at the Suez Canal:<\/strong> Liquified petroleum gas shippers will continue to pay lower Suez Canal transit fees until June 2021 as the government tries to support revenues as the pandemic continues to sap trade, the Suez Canal Authority said, according to <a href=\"https:\/\/bit.ly\/3nBPJK1\">Al Mal<\/a>. Since April, carriers traveling between southeast Asia and the US have gotten breaks ranging between 24% and 75%, depending on their route. The measures were introduced by the authority in response to a slowdown in global trade caused by the pandemic.<\/p>\n<p><strong>They\u2019re not the only ones getting a hand:<\/strong> The authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17069688-0787-4133-86d6-097c92f20b6a\">earlier this week<\/a> slashed transit fees for large oil tankers traveling between northern Europe and southeast Asia by 48%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shipping\/\">SHIPPING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568257\" 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=\"568257\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/568257\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568257\" class=\"content-area-description single-story post-568257 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\/12\/Sodic-Karmell-Amina-Khalil-16.12.20-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568258\" 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=\"568258\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/monginis-to-open-second-factory-in-2q2021\/\">\r\n                            Monginis to open second factory in 2Q2021                        <\/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\/23\/monginis-to-open-second-factory-in-2q2021\/\" 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\/23\/monginis-to-open-second-factory-in-2q2021\/')\">\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\/23\/monginis-to-open-second-factory-in-2q2021\/\">\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=Monginis to open second factory in 2Q2021&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/monginis-to-open-second-factory-in-2q2021\/\">\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\/23\/monginis-to-open-second-factory-in-2q2021\/&title=Monginis to open second factory in 2Q2021\">\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=Monginis+to+open+second+factory+in+2Q2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fmonginis-to-open-second-factory-in-2q2021%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\/23\/monginis-to-open-second-factory-in-2q2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568258\" class=\"content-area-description single-story post-568258 post type-post status-publish format-standard hentry category-investment-watch tag-enterpriseam tag-food-and-beverage tag-investment-watch tag-retail wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Sweetmaker <\/strong><strong><a href=\"https:\/\/monginisscakes.com\/\">Monginis<\/a><\/strong><strong> is planning to inaugurate its planned EGP 100 mn factory in <\/strong><strong>Sadat City in 2Q2021<\/strong>, Business Development Director <a href=\"https:\/\/alborsaanews.com\/2020\/12\/22\/1407746\">Osama Soliman said<\/a>. The company had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4636bbf-cbce-4c50-90b0-854ebb75136c\">been planning<\/a> to open the factory \u2014 its second in Egypt \u2014 by the end of the year or in early January, after sales recovered 70% from lows seen during the height of the pandemic earlier in the year. The Indian company is also planning to invest EGP 200 mn to double its branches to 200 by 2022, Soliman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b16a6e9c-80b9-42ef-be01-b9e1c8f7a82c\">said last week<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-and-beverage\/\">food and beverage<\/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\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568259\" 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=\"568259\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/closing-in-on-800-new-cases-per-day\/\">\r\n                            Closing in on 800 new cases per day                        <\/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\/23\/closing-in-on-800-new-cases-per-day\/\" 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\/23\/closing-in-on-800-new-cases-per-day\/')\">\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\/23\/closing-in-on-800-new-cases-per-day\/\">\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=Closing in on 800 new cases per day&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/closing-in-on-800-new-cases-per-day\/\">\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\/23\/closing-in-on-800-new-cases-per-day\/&title=Closing in on 800 new cases per day\">\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=Closing+in+on+800+new+cases+per+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fclosing-in-on-800-new-cases-per-day%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\/23\/closing-in-on-800-new-cases-per-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568259\" class=\"content-area-description single-story post-568259 post type-post status-publish format-standard hentry category-covid-watch tag-china tag-covid-19 tag-enterpriseam tag-kuwait tag-pfizer tag-sinopharm tag-travel tag-uae tag-vaccines 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\/3piiRq5\">reported<\/a><\/strong><strong> 788 new covid-19 infections yesterday<\/strong>, up from 718 the day before. The ministry also reported 37 new deaths, bringing the country\u2019s total death toll to 7,167. Egypt has now disclosed a total of 127,601 confirmed cases of covid-19.<\/p>\n<p><strong>Setting up more quarantine facilities:<\/strong> Parts of Kasr Al Aini Hospital will be turned into a dedicated covid-19 quarantine area to accommodate the increase in cases, <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2020\/12\/22\/1936647\/%D8%A8%D8%B3%D8%A8%D8%A8-%D8%A7%D9%84%D9%85%D9%88%D8%AC%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D8%AD%D9%88%D9%8A%D9%84-%D9%82%D8%B5%D8%B1-%D8%A7%D9%84%D8%B9%D9%8A%D9%86%D9%8A-%D8%A7%D9%84%D9%81%D8%B1%D9%86%D8%B3%D8%A7%D9%88%D9%8A-%D9%84%D8%B9%D8%B2%D9%84-%D8%AD%D8%A7%D9%84%D8%A7%D8%AA-%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7#breaking\">Masrawy<\/a> reports. As of last week, around 60% of ICU beds were occupied and a third of ventilators at isolation facilities were in use.<\/p>\n<p><strong>There are currently some 1,450 Egyptian expats stuck in transit in the UAE, Turkey, and <\/strong><strong>Oman on their way back to Kuwait<\/strong>, which has suspended all air travel for one week amid fears of a new, more transmissible strain of the virus, Emigration Minister Nabila Makram Ebeid said yesterday. The ministry is working with hotels and other agents to arrange for the travelers to find accommodation until the suspension is lifted, Ebeid told Masaa DMC\u2019s Ramy Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=NSdz35nzIB0\">watch, runtime: 5:21<\/a>).<\/p>\n<p><strong>Should we expect another repatriation campaign? Not just yet<\/strong>, Ebeid said. The ministry is \u201ckeeping an eye\u201d on Egyptians who are facing difficulties coming home because of flight suspensions, but hasn\u2019t yet made a decision to operate repatriation flights.<\/p>\n<p><strong>It will take two weeks until we know if the Pfizer \/ BioNTech vaccine is effective against<\/strong><strong> the new virus strain<\/strong> as the companies gather data from ongoing clinical trials, <a href=\"https:\/\/news.sky.com\/story\/covid-19-biontech-boss-confident-coronavirus-vaccine-will-work-against-new-variant-12169929\">Sky News<\/a> reports BioNTech CEO Ugur Sahin as saying. A new vaccine, if necessary, could be <a href=\"https:\/\/www.ft.com\/content\/26f396c2-3dfd-4b57-8fe7-aa6784a2abd9\">manufactured within 6 weeks<\/a>, said Sahin. <strong>The mutant virus is hitting parts of Europe after being discovered <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/819db8c1-b365-4be6-84af-8c39c4d27a1b\">in the UK<\/a><\/strong><strong> and is believed to be 70% more transmissible<\/strong>, but not necessarily more deadly.<\/p>\n<p><strong>Don\u2019t panic yet:<\/strong> The BioNTech boss said there was a \u201crelatively high\u201d chance that the vaccine will be effective in combating the new strain, explaining that the new form of covid-19 shares 99% of the proteins with the previous iterations.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568260\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" 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     <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-19i9yns\" data-v=\"4\" data-block-id=\"19i9yns\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-19i9yns-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-19i9yns-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" 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target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4vts99l\" data-v=\"4\" data-block-id=\"4vts99l\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4vts99l-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4vts99l-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-jfwp0ax\" data-v=\"4\" data-block-id=\"jfwp0ax\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-jfwp0ax-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-jfwp0ax-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 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568261\" 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=\"568261\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/last-nights-talk-shows-on-23-december-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 23 December 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n            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  <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/last-nights-talk-shows-on-23-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/397.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"568262\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/last-nights-talk-shows-on-23-december-2020\/397-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/397.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"397.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/397.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/397.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568261\" class=\"content-area-description single-story post-568261 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-last-nights-talk-shows tag-enterpriseam tag-imf tag-last-nights-talk-shows tag-mahmoud-mohieldin 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>The highlight of last night\u2019s talk shows:<\/strong> IMF executive board member Mahmoud Mohieldin\u2019s chat with Kelma Akhira\u2019s Lamees El Hadidi on prospects for individual Arab economies and the global economy at large heading into 2021 (<a href=\"https:\/\/www.youtube.com\/watch?v=3ikyC9BNQao\">watch, runtime: 31:39<\/a>).<\/p>\n<p><strong>Egypt must stay the course on reforms and start moving towards its plans for deeper reforms<\/strong>, including doubling down on investments in healthcare, education, and infrastructure to create sustainable, long-lasting growth, Mohieldin said. The government has so far shown a high degree of commitment to the program, which has helped Egypt earn and maintain the confidence of international organizations such as the IMF, he told Lamees.<\/p>\n<p><strong>We could see the global economy bounce back next year to register 2-3% growth<\/strong> if the covid-19 vaccines are 85-95% effective, but the recovery is going to vary greatly between individual sectors (think tourism versus fintech, for example) and also between countries that suffered or benefited differently from the pandemic. Mohieldin also touched on the situation in Lebanon, stressing that a political resolution is the only absolute fix for the economy.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li>Gastec Chairman Abdel Fattah El Farahat explained how to go about converting a vehicle to run on natgas (<a href=\"https:\/\/www.youtube.com\/watch?v=bWtROlNMlBM\">watch, runtime: 1:09<\/a>)<\/li>\n<li>Masaa DMC recapped the national projects that were inaugurated this year (<a href=\"https:\/\/www.youtube.com\/watch?v=j0A67DqMJyo\">watch, runtime: 2:42<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/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=\"568263\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568264\" 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=\"568264\">\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\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/enterprise-talks-to-hoda-youssef-senior-economist-at-the-world-bank\/\">\r\n                            Enterprise talks to: Hoda Youssef, senior economist at the World Bank                        <\/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\/23\/enterprise-talks-to-hoda-youssef-senior-economist-at-the-world-bank\/\" 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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Covering state involvement in the economy, trade barriers and the legal system, the paper identifies the key impediments to private sector development and offers a detailed policy prescription for how the future might look different. <strong><a href=\"http:\/\/tap\/click%20here\">Tap \/ click here for full coverage<\/a><\/strong><strong>.<\/strong><\/p>\n<p>To go deeper into some of the issues raised in the report, as well as gauge how the economy is responding to the pandemic, we talked to World Bank senior economist and team leader of the report Hoda Youssef. Youssef is a MENA-focused economist with 15 years\u2019 experience researching macro trends, private sector development and political economy.<\/p>\n<p>The key takeaways:<\/p>\n<ul>\n<li>The trajectory of Egypt\u2019s \u2014 and the world\u2019s \u2014 economic recovery is still TBC<\/li>\n<li>Our debt load remains a problem but progress is being made on diversification<\/li>\n<li>Easing tariffs doesn\u2019t have to mean pain<\/li>\n<li>Privatization can only do so much to level the playing field<\/li>\n<li>Firm but fair antitrust rules are a must to protect market competition<\/li>\n<li>Levelling up the digital economy starts in the classroom<\/li>\n<li>Intelligent deregulation can nudge businesses to go legit.<\/li>\n<\/ul>\n<p><strong>Edited excerpts of our conversation:<\/strong><\/p>\n<p><strong>The economic recovery in Egypt \u2014 like the rest of the world \u2014 remains in the balance: <\/strong>The outlook is highly uncertain, and the impact of the pandemic will depend on the duration and severity of the crisis both domestically and abroad. As we speak, various restrictive measures have been reintroduced around the world as covid-19 continues to spread, and in Egypt daily new cases are on an increasing trend.<\/p>\n<p><strong>The pace of the recovery will hence vary considerably<\/strong>, with greater weakness in countries that have larger outbreaks or greater exposure to global spillovers, through tourism, exports, remittances or capital flows. For Egypt, our most recent projection for growth in FY2020-2021 is 2.3%. This could however be revised as things develop and more information becomes available.<\/p>\n<p><strong>Egypt has contained the fallout from the crisis, but attention now turns to Reform 2.0: <\/strong>In response to this crisis, Egypt undertook key measures to curb the spread of covid-19, and to mitigate its adverse implications on the economy. Many of these measures were taken preemptively. Social protection programs were also scaled up, to help mitigate the impact on the most vulnerable groups, including for informal workers and Takaful and Karama beneficiaries.<\/p>\n<p><strong>Going forward, the government needs to focus on continuing the reform agenda and embarking on a second generation of reforms<\/strong> to address the structural constraints on the economy, strengthen its resilience in the face of crises, and ensure a sustainable and inclusive growth model.<\/p>\n<p><strong>The national debt remains high but progress is being made on diversification.<\/strong> Egypt entered the crisis with a broadly stable macroeconomic environment, helped by its important reform measures. Yet, debt levels are still elevated despite falling from 108% of GDP to 87% over the previous three years. And government external debt in absolute terms is remarkably higher than before the reforms, jumping from USD 35 bn to USD 69.4 bn over the same period<\/p>\n<p><strong>A positive development is on the maturity structure, which Egypt has begun to extend<\/strong> to an average time-to-maturity of 3.3 years in FY2019-2020 compared to 1.9 years in FY2017-2018. Yet, the latest available official numbers show that domestic debt maturity structure remains unfavorable, with 67% being short-term debt. While we expect debt levels to exceed pre-crisis targets, Egypt continues, however, to diversify the sources of external financing \u2014 including the issuance of its first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">sovereign green bond<\/a> \u2014 and widen the investor base.<\/p>\n<p><strong>FDI needs a pick-me-up:<\/strong> It will be important for Egypt to prioritize steps to attract FDI and facilitate trade. This is important as FDI inflows (while declining globally), have been low and declining in Egypt, even prior to the crisis and have remained concentrated in the extractives sectors, while the share of FDI in more labor-intensive sectors, such as services, manufacturing, and construction, remained modest.<\/p>\n<p><strong>Privatization can only do so much to level the playing field:<\/strong> The issue is not privatization but the need to ensure a level playing field in sectors and markets where both public and private operators compete. Lack of a clear separation between the State\u2019s regulatory and operational bodies in certain sectors can create conflicts of interest as regulators might have incentives to protect public operators under their supervision, and this can create risks for the private sector. For instance, the Communications Ministry oversees both the National Telecom Regulatory Authority (NTRA) and Telecom Egypt \u2014 an SOE that is 80% owned by the government and holds a dominant position in the sector.<\/p>\n<p><strong>But it can lead to improved firm performance, healthier public finances, and positive macroeconomic effects \u2014 when done right. <\/strong>As it prepares to <a href=\"https:\/\/enterprise.press\/stories\/2020\/12\/15\/more-military-companies-up-for-privatization-in-historic-shift-for-the-economy-27201\/\">open up military-owned firms to investors<\/a>, the State will need to focus on how the privatization is done. Specifically, there will be a need to create an encouraging environment by undertaking other reforms to strengthen competition and ensure a level-playing field, and prepare the enterprises for privatization by making the necessary disclosure on their performance.<\/p>\n<p><strong>It will also be very important for the sale to be conducted with openness and through a transparent process.<\/strong> Stronger protection for minority shareholders will also be essential, given the possibility that some privatizations could involve retention of a government stake and \/ or participation of large private investors.<\/p>\n<p><strong>Strengthening antitrust legislation is key:<\/strong> The ability to control anticompetitive effects of mergers is an important feature for competition regimes and most competition laws around the world include such powers. Merger control allows competition authorities to act ex ante rather than ex post. In other words, instead of prosecuting anticompetitive practices once they have taken place and harmed consumers, they can limit the risks beforehand.<\/p>\n<p><strong>Nevertheless, we cannot forget that market consolidation is part of the day to day business of the private sector<\/strong>, especially in the context of covid-19. Thus, merger control policy should allow for beneficial dynamic changes in market structure without unjustifiably increasing the cost of doing business.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/2020\/12\/23\/enterprise-talks-hoda-youssef-senior-economist-world-bank\/\">Tap or click here to continue reading the discussion on our website<\/a><\/strong><strong>, including trade, customs reform<\/strong>, how to level-up the digital economy, industries that will benefit from going digital, and how to drag the informal economy (kicking and screaming) into the light.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/antitrust\/\">antitrust<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International 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\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/spotlight\/\">SPOTLIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-owned-enterprises\/\">state-owned enterprises<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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\/world-bank\/\">World Bank<\/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=\"568266\" 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=\"568266\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/egypt-in-the-news-on-23-december-2020\/\">\r\n                            Egypt in the News on 23 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\/23\/egypt-in-the-news-on-23-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\/23\/egypt-in-the-news-on-23-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\/23\/egypt-in-the-news-on-23-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 23 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/egypt-in-the-news-on-23-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\/23\/egypt-in-the-news-on-23-december-2020\/&title=Egypt in the News on 23 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+23+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fegypt-in-the-news-on-23-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\/23\/egypt-in-the-news-on-23-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568266\" class=\"content-area-description single-story post-568266 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-human-rights tag-religion wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>On an otherwise quiet morning in the foreign press:<\/strong> The <a href=\"https:\/\/cpj.org\/2020\/12\/egyptian-blogger-shadi-abu-zeid-jailed-for-6-months-over-2016-facebook-video\/\">Committee to Protect Journalists<\/a> is calling on the government to release satirist Shadi Abou Zeid and Egyptian director Mayye Zayed\u2019s documentary on Egypt\u2019s women weightlifters \u201cLift Like a Girl\u201d is getting more digital ink from <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN28W1ZV\">Reuters<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/religion\/\">Religion<\/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=\"568267\" 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=\"568267\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/also-on-our-radar-on-23-december-2020\/\">\r\n                            Also on our radar on 23 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\/23\/also-on-our-radar-on-23-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\/23\/also-on-our-radar-on-23-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\/23\/also-on-our-radar-on-23-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Also on our radar on 23 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/also-on-our-radar-on-23-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\/23\/also-on-our-radar-on-23-december-2020\/&title=Also on our radar on 23 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Also+on+our+radar+on+23+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Falso-on-our-radar-on-23-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\/23\/also-on-our-radar-on-23-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568267\" class=\"content-area-description single-story post-568267 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-energy tag-enterpriseam tag-financial-inclusion tag-fintech tag-mastercard tag-oil-and-gas tag-tourism tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Al Azhar <\/strong><strong><a href=\"https:\/\/bit.ly\/3mKML4F\">issued<\/a><\/strong><strong> a fatwa confirming that joining the Ikhwan is religiously forbidden <\/strong>on grounds that the group has engaged in \u201cdistorting some texts, taking them out of their context, and using them to achieve personal goals or interests and corrupting the land.\u201d<\/p>\n<p><strong>A handful of headlines we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Palm Hills Development\u2019s London-listed GDRs<\/strong> <a href=\"https:\/\/ent.news\/2020\/12\/PHD-Press-Release-22-December-2020-English.pdf\">were written off yesterday (pdf)<\/a>, a plan the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a45f8b4d-5453-4b84-ab28-4515db059d78\">approved<\/a> in August.<\/li>\n<li>A new system to disburse <strong>export subsidies<\/strong> based on company size and turnover <a href=\"https:\/\/alborsaanews.com\/2020\/12\/22\/1407870\">will be introduced<\/a> in January.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/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\/mastercard\/\">Mastercard<\/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\/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=\"568268\" 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=\"568268\">\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\/23\/what-the-markets-are-doing-on-23-december-2020\/\">\r\n                            What the markets are doing on 23 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\/23\/what-the-markets-are-doing-on-23-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\/23\/what-the-markets-are-doing-on-23-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\/23\/what-the-markets-are-doing-on-23-december-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=What the markets are doing on 23 December 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/what-the-markets-are-doing-on-23-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\/23\/what-the-markets-are-doing-on-23-december-2020\/&title=What the markets are doing on 23 December 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=What+the+markets+are+doing+on+23+December+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F12%2F23%2Fwhat-the-markets-are-doing-on-23-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\/23\/what-the-markets-are-doing-on-23-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568268\" class=\"content-area-description single-story post-568268 post type-post status-publish format-standard hentry category-planet-finance tag-debt tag-economic-stimulus-package tag-enterpriseam tag-financial-markets tag-planet-finance tag-relief-package tag-saudi-arabia tag-small-business-relief tag-spacs tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>GAME CHANGER for US capital markets- The US has given the green light to direct <\/strong><strong>listings on the New York Stock Exchange <\/strong>in a move that will surely cut into the feel wallets allocated to investment banks across the pond, the <a href=\"https:\/\/www.ft.com\/content\/c0aa1601-5c7d-47ec-a046-e30f8e503942\">Financial Times<\/a> writes.<\/p><p><strong>iSheep have plenty to chew over today, including the prospect (once again) of an Apple <\/strong><strong>Car <\/strong>(<a href=\"https:\/\/www.reuters.com\/article\/uk-apple-autos-exclusive\/exclusive-apple-targets-car-production-by-2024-and-eyes-next-level-battery-technology-sources-idUKKBN28V2PU\">this time by 2024<\/a>) and news that Elon Musk <a href=\"https:\/\/www.reuters.com\/article\/us-apple-autos-elon-musk\/elon-musk-says-had-once-reached-out-to-apple-for-acquiring-tesla-idUSKBN28W2KF\">tried to shop Tesla to the tech giant<\/a>, but couldn\u2019t convince CEO Tim Cook to sit down for a cup of coffee. <strong>Apple shares are heading into the final days of trading up some 80% <\/strong>year-on-year for the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-22\/apple-inches-toward-record-after-report-on-autonomous-car-plans\">second year in a row<\/a>. <a href=\"https:\/\/www.cnbc.com\/2020\/12\/22\/building-a-car-would-be-a-low-margi.html\">CNBC<\/a> has more.<\/p><p><strong>US companies are going full George Romero<\/strong>, borrowing a record USD 2.5 tn this year and increasing leverage at investment grade companies to an all-time high. The number of so-called zombie companies \u2014 firms whose profits only allow them to meet interest payments on their debt \u2014 are nearing historical peaks. <a href=\"https:\/\/www.ft.com\/content\/7fa7e230-5a8f-4a65-b8b7-ecd603a2a3d1\">The Financial Times<\/a> says the 2020 bond mania has left balance sheets in a \u201cfar riskier\u201d state, as Fed policy leaves companies ever more reliant on emergency liquidity.<\/p><p><strong>Peak 2020: SoftBank is launching a SPAC so it can \u2026 buy SoftBank<\/strong> <strong>assets.<\/strong> <a href=\"https:\/\/www.ft.com\/content\/65fd4a73-f277-415f-83b5-a3a68a5d4e27\">The Financial Times<\/a> reports that the company wants to raise USD 604 mn of public money so it can acquire a Japanese tech firm it has already invested in. This seems fine\u2026<\/p><p><strong>There\u2019s been a changing of the guard at Saudi\u2019s USD 360 bn sovereign wealth<\/strong><strong> fund<\/strong> as it prepares to step up its involvement in the economy, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-22\/saudi-arabia-s-wealth-fund-reshuffles-key-executive-team?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Among the new faces are Fahad Alsaif (<a href=\"https:\/\/www.linkedin.com\/in\/fahad-al-saif-9828b126\/?originalSubdomain=sa\">LinkedIn<\/a>), who has been appointed head of corporate finance, and Rania Nashar, who was the first woman in the country to head up a bank, was tapped to become senior adviser to PIF Governor Yasir Al-Rumayyan.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,656<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: -23.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.63<\/p>\n<\/td>\n<td>\n<p>Sell 15.73<\/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>8,681<\/p>\n<\/td>\n<td>\n<p>+1.7% (YTD: +3.5%)<\/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>5,110<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,481<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -10.3%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,687<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +14.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,453<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -14.4%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 50.08<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 2.77<\/p>\n<\/td>\n<td>\n<p>-0.5%<\/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 1,867.10<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 23,723.66<\/p>\n<\/td>\n<td>\n<p>+3.8%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>The EGX30 rose 0.7% yesterday<\/strong> on turnover of EGP 1.1 bn (19.3% below the 90-day average). Domestic investors were net sellers. The index is down 23.7% YTD.<\/p><p><strong>In the green: <\/strong>Juhayna (+7.3%), GB Auto (+6.9%) and TMG Holding (+3.4%).<\/p><p><strong>In the red: <\/strong>Dice (-3.5%), Export Development Bank (-2.9%) and Qalaa Holdings (-1.8%).<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economic-stimulus-package\/\">economic stimulus package<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/relief-package\/\">relief package<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/small-business-relief\/\">small business relief<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"568269\" 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=\"568269\">\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\/23\/around-the-world-on-23-december-2020\/\">\r\n                            Around the world on 23 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\/23\/around-the-world-on-23-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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Gargash\u2019s statement comes amid signals that Saudi Arabia, the UAE, Bahrain and Egypt were inching toward ending the three-year-old flap. The four countries have been demanding that Doha shut down state mouthpiece Al Jazeera as a condition to resolving the stand-off.<\/p>\n<p><strong>Bibi could be dethroned as Israel\u2019s prime minister in the country\u2019s fourth election in two<\/strong><strong> years<\/strong>, as his fragile coalition government with centrist rival Benny Gantz collapsed after the Knesset failed to approve a state budget. The vote \u2014 scheduled for 23 March \u2014 will come a few weeks after Netanyahu\u2019s trial for bribery and fraud \u201ckicks into high gear,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-22\/israel-heads-to-fourth-election-in-two-years-over-budget-crisis?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> notes.<\/p>\n<p><strong>The USD 892 bn covid relief bill passed in the United States may be on the rocks <\/strong>after Agent Orange <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa-trump\/trump-says-he-wants-congress-to-amend-covid-19-relief-bill-idUSKBN28X01V\">threatened yesterday<\/a> not to sign it, arguing that he wants the USD 600 cheques for every American to be upgraded to USD 2k apiece.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-policy\/\">foreign policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"568270\">\r\n    <div 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class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">14<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/2020-in-review-how-adaptation-enabled-certain-industries-instruments-and-businesses-to-thrive-even-amid-covid-19-uncertainty\/\"> \r\n                            2020 in review: How adaptation enabled certain industries, instruments and businesses to thrive \u2014 even amid covid-19 uncertainty<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/2020-in-review-how-adaptation-enabled-certain-industries-instruments-and-businesses-to-thrive-even-amid-covid-19-uncertainty\/\" 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\" 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href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/2020-in-review-how-adaptation-enabled-certain-industries-instruments-and-businesses-to-thrive-even-amid-covid-19-uncertainty\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/400.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"568271\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/2020-in-review-how-adaptation-enabled-certain-industries-instruments-and-businesses-to-thrive-even-amid-covid-19-uncertainty\/400-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/400.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"400.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/400.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/400.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-568270\" class=\"content-area-description post-568270 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-automotive tag-electricity-generation tag-energy tag-enterprise-hardhat tag-enterpriseam tag-green-bonds wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>2020 in review: How diversification and digitization guided infrastructure in 2020 and may <\/strong><strong>continue to do so in 2021: <\/strong>In <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08278182-c144-4f3f-839b-d57566716986\">part 1<\/a> of our Year in Review, we looked at how infrastructure businesses, particularly in energy, construction, and shipping, were hit by covid-driven supply chain disruptions, while businesses like ride-hailing saw demand lessen amid social distancing. Now in part 2, we look at digital infrastructure and diversification \u2014 two other big themes for the year.<\/p>\n<p><strong>By adaptation we mean digitization and diversification.<\/strong> From e-commerce, fintech, and e-payments, digitizing basic services was a big theme of 2020. We\u2019re also seeing moves on that front in our electricity infrastructure as we transition towards a smart grid. Meanwhile, we\u2019re seeing diversification become a major theme in infrastructure, especially with regards to our transition to natural gas, and the move towards diversifying our funding of infrastructure.<\/p>\n<p><strong>The explosion of digital payments by the numbers:<\/strong> This boom in digital payments, fintech and e-commerce is being witnessed across all metrics this year. Ceilings on contactless transactions have doubled since the start of the pandemic, allowing consumers to make contactless payments for larger purchases. Between the beginning of the outbreak and June, e-commerce sales in Egypt shot up 80%, Jumia Egypt CEO Hisham Safwat <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6e5a50-7888-42fd-85af-d46ceb2db0af\">said at the time<\/a>. 15% of businesses in Egypt reported more online sales now than before the pandemic, according to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/008edf47-4398-4cd5-a573-5092387258a6\">a survey by Facebook<\/a>, the World Bank, and the Organization for Economic Cooperation and Development.<\/p>\n<p><strong>Meanwhile, the number of mobile wallets in Egypt has jumped at least 17% to 14.4 mn between March and October<\/strong> as the pandemic boosted digital payments, the National Telecom Regulatory Authority said in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59863ee4-eef6-4b7f-9026-052fd6d8536b\">a report last month<\/a>. The number of e-payment cards in use also rose 7% in the first six months of 2020, rising to 39.6 mn from 36.7 mn at the end of December, according to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/501c966a-1f2d-4b24-a9ad-78b7c3b1b58d\">CAPMAS<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/501c966a-1f2d-4b24-a9ad-78b7c3b1b58d\">data from September<\/a>. The figure includes credit cards, debit cards and prepaid cards. There were 18.28 mn prepaid cards in use by the end of June.<\/p>\n<p><strong>In addition to usage, we\u2019re seeing an expansion in the types of services being offered.<\/strong> We\u2019re seeing traditional banks such as Banque Misr <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/12cc58a4-a8bb-44ba-8d4f-d44db64e32a2\">extending banking services<\/a> through apps such as <a href=\"https:\/\/www.e-masary.com\/\">Masary<\/a>, including QR code payments, Meeza card services, and accepting e-payment cards. Fawry and Banque du Caire, meanwhile, have set up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f7ef27d-17ef-439a-a5f2-f8930903ef76\">an instant remittance transfer service through<\/a> Fawry outlets. We\u2019re also seeing <a href=\"https:\/\/enterprise.press\/blackboards\/tuition-payment-time-covid-19\/\">a series of partnerships<\/a> since the covid-19 crisis between education providers and e-payments and e-finance companies to facilitate tuition payments.<\/p>\n<p><strong>The lesson from startup land was clear: Businesses that reduced face-to-face contact through digitization fared well.<\/strong> Delivery services and healthtech startups <a href=\"https:\/\/enterprise.press\/hardhats\/infrastructure-startups-covid-19-era-will-go-survive-thrive\/\">saw a substantial increase<\/a> in demand, with daily orders at <a href=\"https:\/\/3elagi.com\/\">online pharma app 3elagi<\/a> having doubled or even tripled by late April. Digital healthcare platform <a href=\"https:\/\/www.vezeeta.com\/en\">Vezeeta<\/a> accelerated the launch of its new telehealth service by several months, helping to plug a gap as physical consultations decreased. It was no different in infrastructure-based startups, such as digital trucking marketplace <a href=\"https:\/\/www.trella.app\/\">Trella<\/a>, which found that as covid concern grew, clients became much more amenable to digitizing payment mechanisms and documents used to transfer equipment, like proof of delivery.<\/p>\n<p><strong>Even electricity is set to be transformed by a digital shift: <\/strong>Egypt\u2019s electricity generation capacity far outstrips network transmission capacity, creating <a href=\"https:\/\/enterprise.press\/hardhats\/covid-19-impacting-egypts-renewable-energy-sector-part-3-overcapacity-problem\/\">a huge oversupply<\/a> while <a href=\"https:\/\/enterprise.press\/hardhats\/surplus-electricity-still-get-power-cuts\/\">failing to fully eradicate<\/a> persistent power cuts. The national grid itself relies on outdated technology that incurs major maintenance costs and makes identifying the causes of interruptions difficult. So the Electricity Ministry plans to turn the old grid into a smart grid that incorporates digital technology into the traditional electrical system. It lets electricity distribution companies analyze big data on consumption using IT infrastructure embedded into control centers. This maximizes the efficiency of electricity usage, and lets engineers monitor performance and anticipate problems. It can also offer mechanisms for electricity storage.<\/p>\n<p><strong>Plans to set up the smart grid moved forward this year:<\/strong> 15 smart control centers out of a planned 47 were set to be rolled out, with Schneider Electric having snapped up four of them for EGP 4.7 bn <a href=\"https:\/\/enterprise.press\/hardhats\/smart-grid-can-help-stop-power-cuts-improve-energy-efficiency\/\">as of mid-August<\/a>.<\/p>\n<p><strong>Perhaps the biggest move in diversification this year was our natgas transition: <\/strong>This year saw one of the most ambitious infrastructure turnarounds, as Egypt looks to move all passenger cars to run natural gas in a bid to <a href=\"https:\/\/www.youm7.com\/story\/2020\/7\/13\/%D8%B3-%D9%88%D8%AC-%D9%83%D9%84-%D9%85%D8%A7-%D8%AA%D8%B1%D9%8A%D8%AF-%D9%85%D8%B9%D8%B1%D9%81%D8%AA%D9%87-%D8%B9%D9%86-%D8%AA%D8%AD%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%84%D8%B9%D9%85%D9%84\/4875970\">drastically cut fuel costs<\/a> while bringing a reduction in Egypt\u2019s oil imports, and less pollution. The first phase of the plan would see some 250k old cars<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a946047f-ec53-4300-942f-165509dbcc68\">taken off the road<\/a> and outfitted with dual-fuel engines by the end of 2023 in Cairo, Giza, Alexandria, and Qalyubia. Initial estimates suggested the program will ultimately see an estimated 1.8 mn cars converted or replaced at a cost of EGP 320 bn, officials told us back in July. The plan will run on three tracks:<\/p>\n<p><strong>#1- Setting up the infrastructure: <\/strong>At least another 366 natgas stations will be opened by the government at a cost of EGP 6.7 bn over the next two years, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cefc0abf-986a-4591-8cc7-2ad3da8505c1\">Trade Minister Nevine Gamea said<\/a>. In tandem, the government is considering reviving Safi Misr, a state company that will partner with Italy\u2019s Landi Renzo, with the aim of accelerating the establishment of conversion and fuel stations. The government is also looking to foreign companies to help expedite the conversions of cars to natgas.<\/p>\n<p><strong>#2- Providing financial incentives to transition: <\/strong>The Trade and Industry Ministry, CBE, and the MSME Development Agency is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca4070e2-8e98-49ab-aa59-9931d6f0838d\">setting up financial incentives<\/a> to fund the program, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c84bb14-792e-4e7f-ac46-1f387cf58529\">offering EGP 1.2 bn<\/a> in low-interest loans to owners of vehicles over 20 years old, while those with younger vehicles can access zero-interest finance to outfit them with new engines.<\/p>\n<p><strong>#3- Getting auto assemblers on board: <\/strong>Currently there are several models of locally-assembled passenger cars and microbuses that use natural gas by Chevrolet, Hyundai, Lada, and BYD. But in order to buy into the plan further, auto players had been asking for further incentives <a href=\"https:\/\/enterprise.press\/hardhats\/feasible-plan-replace-gasoline-fired-cars-dual-fuel-vehicles-part-3\/\">back in August<\/a>. There now appears to be plans for dual-fuel cars assembled locally to be in line for value-added tax and customs breaks on inputs. We\u2019re now hearing that carmakers Toyota, Foton, and Jinbei are expected to begin locally assembling natgas models in 2021, officials tell us. Meanwhile, Brilliance Auto Group is in talks with its parent company, HuaChen Group Auto Holding, about potentially participating with locally-assembled microbuses. An expo inviting private sector companies to join in on the effort is scheduled to take place in January 2021.<\/p>\n<p><strong>Infrastructure became the testing ground for our debt diversification strategy:<\/strong> <a href=\"https:\/\/enterprise.press\/hardhats\/z-green-bond-funding\/\">In September<\/a>, Egypt sold its first <a href=\"https:\/\/enterprise.press\/hardhats\/2020-year-green-bonds-become-real-egypt\/\">green bonds<\/a> \u2014 a component of the Finance Ministry\u2019s debt diversification strategy \u2014 listing USD 750 mn in green bonds on the London Stock Exchange. Based on the Finance Ministry\u2019s <a href=\"https:\/\/enterprise.press\/hardhats\/z-green-bond-funding\/\">Green Framework<\/a>, green bonds are set to be a main source of funding for some of our most important upcoming and existing major infrastructure projects. These include clean transportation, renewable energy, pollution prevention and control, climate change adaptation, energy efficiency, and water and wastewater management.<\/p>\n<p><strong>Will corporate green bonds follow next year?<\/strong> As we\u2019re seeing with sukuks, a number of companies have been exploring buying into this new instrument. CIB was supposed to be the first to test the water with <a href=\"https:\/\/enterprise.press\/hardhats\/2020-year-green-bonds-become-real-egypt\/\">a USD 65 mn offering<\/a> in collaboration with the International Finance Corporation (IFC) in 3Q2020. The proposal would have seen the IFC invest USD 65 mn in the first tranche of the five-year bonds. If successful, the IFC will bring its investment up to USD 100 mn in another tranche. It is unclear whether the offering will go ahead in 2021. Meanwhile, BariQ, Raya\u2019s recycling unit, is expected to take its green bonds to market <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/427b762b-2eb8-4652-936f-73c9f93209dc\">in early 2021<\/a>.<\/p>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li>Egyptera <a href=\"https:\/\/alborsaanews.com\/2020\/12\/17\/1406793\">licensed<\/a> three companies to set up <strong>solar power stations<\/strong> with a collective capacity of 19.4 MW.<\/li>\n<li><strong>Egypt is <\/strong><strong><a href=\"https:\/\/bit.ly\/3oT6b91\">considering building a<\/a><\/strong><strong><a href=\"https:\/\/bit.ly\/3oT6b91\">logistics terminal<\/a><\/strong><strong> on the Sudanese<\/strong> border that could act as a distribution hub in the region for leather goods, appliances, sugar and pharma products.<\/li>\n<li><strong>Egypt could be getting EUR 1 mn courtesy of the <\/strong><strong>EBRD next month<\/strong> to fund feasibility studies for the Tenth of Ramadan, Beni Suef and Borg El Arab dry ports, General Authority for Land and Dry Ports head Amr Ismail said, according to the <a href=\"http:\/\/bit.ly\/34wmr81\">local press<\/a>.<\/li>\n<li><strong>The Public Enterprises Ministry signed a contract with Vodafone and Viber <\/strong>to install a data management system in 63 state-owned enterprises that will automate workflow, according to <a href=\"http:\/\/bit.ly\/2J9rsvM\">Hapi Journal<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-generation\/\">electricity generation<\/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\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"568272\" 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\/23\/calendar-on-23-december-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-568272\" class=\"content-area-description single-story post-568272 post type-post status-publish format-standard hentry category-calendar tag-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>23 December (Wednesday): Prime Minister Moustafa Madbouly will deliver the keynote address at the 19th edition of Dubai\u2019s <a href=\"https:\/\/dpc.org.ae\/en\/media-centre\/calender\/Arab--Media-Forum\">Arab Media Forum<\/a>, held virtually this year.<\/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>31 December (Thursday): Deadline for EGX-listed companies to comply with regulations requiring at least one member of their boards of directors be a woman.<\/p>\n<p>1Q2021: The Annual <a href=\"https:\/\/www.egyptautomotive.com\/1168552\">Egypt Automotive Summit<\/a> will be held.<\/p>\n<p>January 2021: Expo to promote auto natgas transition strategy.<\/p>\n<p>January 2021: US Treasury Secretary Steven Mnuchin is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-16\/mnuchin-plans-final-overseas-trip-with-egypt-qatar-on-itinerary?sref=mmeFTDW1\">set to visit Egypt<\/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>Mid-January: <a href=\"https:\/\/alborsaanews.com\/2020\/12\/16\/1406483\">Local expo<\/a> to display natural gas-powered and dual-engine vehicles for Egypt\u2019s car replacement program.<\/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 2021 (Saturday-Thursday): Mid-year school break.<\/p>\n<p>20 February 2021 (Saturday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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>17 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>2H2021: 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>30 July-3 August 2021 (Thursday-Monday): Eid Al Adha, national holiday (TBC).<\/p>\n<p>5 August 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>16 September 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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>28 October 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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<p>16 December 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":568244,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-568243","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1ab00424-1ce6-489f-8537-8d6fbeec83ad","teaser":"","photo_url":"https:\/\/ent.news\/2020\/12\/389.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>At last, the year-end news slowdown has begun (touch wood) - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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