{"id":569098,"date":"2020-02-13T04:05:38","date_gmt":"2020-02-13T04:05:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=569098"},"modified":"2025-12-16T06:43:26","modified_gmt":"2025-12-16T06:43:26","slug":"could-the-cbe-ease-off-rate-cuts-to-support-the-carry-trade","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/could-the-cbe-ease-off-rate-cuts-to-support-the-carry-trade\/","title":{"rendered":"Could the CBE ease off rate cuts to support the carry trade?"},"content":{"rendered":"<section id=\"569100\" 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=\"569100\">\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\/02\/13\/what-were-tracking-on-13-february-2020\/\">\r\n                            What we\u2019re tracking on 13 February 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\/02\/13\/what-were-tracking-on-13-february-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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We have the full story in this morning\u2019s Speed Round, below.<\/p><p><strong>Will Egypt, Ethiopia and Sudan finally seal a GERD agreement today? <\/strong>Officials are set to wrap up this evening another round of US-sponsored talks in Washington, DC. The three countries are ostensibly close to shaking hands on a timetable for filling and operating the dam, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3e1b02a-ace4-4ef7-b2cb-0c4e702e300a\">having committed in January<\/a> to finally putting pen to paper at the end of this month.<\/p><p><strong>Cabinet will likely discuss <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27d95a2e-524e-4222-a430-a0b2d42d2ed1\">amendments to the Public Enterprises Act<\/a><\/strong><strong> today<\/strong>, Public Enterprises Minister Hisham Tawfik said yesterday, <a href=\"http:\/\/bit.ly\/3bBFHDh\">according to Al Mal<\/a><\/p><p><strong>Global VC group <\/strong><strong><a href=\"https:\/\/www.kauffmanfellows.org\/\">Kauffman Fellows<\/a><\/strong><strong> kicks off its three-day visit to the capital today<\/strong> with an evening at the pyramids; the event will be co-hosted by EFG Hermes, Swvl, Marakez, and Vezeeta. Our near-neighbors Elves will host a BBQ tomorrow for the visitors and local startups, while AmCham will co-host a breakfast on Saturday.<\/p><p><strong>The Central Bank of Egypt will meet to review interest rates<\/strong> a week from today.<\/p><p><strong>The Oil Ministry is going to Canada:<\/strong> The ministry will hold a session at the Prospectors &amp; Developers Association of Canada Convention on 1 March to discuss its legislative agenda to attract foreign companies to the Egyptian mining sector.<\/p><hr class=\"grey-line\"><p><strong>Big Global Story of the day #1- The number of coronavirus cases has surged <\/strong>after a change in reporting methodology in China saw Hubei province alone reporting <strong>15k new cases yesterday<\/strong>. <a href=\"https:\/\/www.reuters.com\/article\/us-china-health\/coronavirus-death-toll-leaps-in-chinas-hubei-province-idUSKBN207025\">242 people died yesterday alone<\/a>.<\/p><p><strong>Closer to home: Africa has no cases, <\/strong><strong><a href=\"https:\/\/www.arabnews.com\/node\/1625856\/middle-east\">the UAE now has eight<\/a><\/strong><strong>, <\/strong><strong>and <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/278e81f8-c74e-3206-ac2f-f27e1245ff0b\">London reported its<\/a><\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/278e81f8-c74e-3206-ac2f-f27e1245ff0b\">first<\/a><\/strong><strong> yesterday.<\/strong> You can track the latest on the rolling coverage blogs rolled out by the <a href=\"https:\/\/www.ft.com\/content\/a8190d19-137b-39fb-aa5e-f5b55b2d9ce2\">Financial Times<\/a> and the <a href=\"https:\/\/www.nytimes.com\/2020\/02\/12\/world\/asia\/coronavirus-china-covid-19.html\">New York Times<\/a>.<\/p><p><strong>Business groups are taking note: Mobile World Congress has been canceled. <\/strong>The event, which draws 100k people annually to Barcelona, is the global telecom industry\u2019s premier annual event (<a href=\"https:\/\/www.reuters.com\/article\/us-china-health-mobileworld\/mobile-world-congress-in-barcelona-called-off-over-coronavirus-fears-idUSKBN2061FV\">Reuters<\/a> | <a href=\"https:\/\/www.cnbc.com\/2020\/02\/12\/mwc-mobile-world-congress-canceled-amid-coronavirus-fears.html\">CNBC<\/a>).<\/p><p><strong>Egypt\u2019s trade and supply chain could be hit hard if the coronavirus outbreak continues,<\/strong> local trade <a href=\"https:\/\/www.zawya.com\/mena\/en\/story\/Egypt_vulnerable_to_prolonged_coronavirus_outbreak-ZAWYA20200212084136\/\">representatives tell Zawya<\/a>. Agricultural goods \u2014 which account for some 20% of our exports to China \u2014 have been hit by cancelations and delays recently on concerns from Chinese importers about port closures, while tourism and business visits have been negatively impacted by the outbreak, representatives say.<\/p><hr class=\"grey-line\"><p><strong>Big Global Story of the day #2- Bernie Sanders won the Democratic Party\u2019s New <\/strong><strong>Hampshire presidential primary,<\/strong><strong> narrowly beating Pete Buttigieg<\/strong>, and that has <a href=\"https:\/\/www.nytimes.com\/2020\/02\/12\/us\/politics\/democrats-new-hampshire-sanders.html\">centrists in the Democratic party in a freakout<\/a>. The vote highlights the generational divide and competing visions for America\u2019s future within the party, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-election-new-hampshire-democrats\/new-hampshire-result-clogs-up-moderate-lane-for-democrats-idUSKBN2060TZ\">Reuters argues<\/a>. Amy Klobuchar landed in third place, which the newswire suggests split a vote that initially favored Buttigieg. Elizabeth Warren and Joe Biden trailed behind in fourth and fifth place.<\/p><p class=\"web-image stand-out-borderless\"><a href=\"http:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/12\/Spa-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Egypt is once again marking its territory as an emerging-market darling<\/strong>, this time in an <a href=\"https:\/\/www.ft.com\/content\/02ee14a8-49a4-11ea-aeb3-955839e06441\">editorial by the Financial Times<\/a>, which argues that investors need to look outside the developed world for better returns in an era of potential deglobalization. Today\u2019s EM investor can\u2019t apply a one-size-fits-all approach, but needs to look for less obvious, undervalued markets (such as Egypt) in search of returns. This is in stark contrast to the dominant narrative of the last two decades, in which many EM investors saw exposure to China and India as sufficient given their fast-growing economies and populations.<\/p><p><strong>There are still reasons to be optimistic about EMs,<\/strong> with financial conditions being supportive of investment. Monetary policy is just right, and low inflation in particular will offer strong prospects for poorer countries. Better still: EM valuations are lower than those in developed markets, so there are gems to be scooped up.<\/p><p><strong>The FT\u2019s message to our readers, whether you\u2019re in business or government: <\/strong>\u201cCountries [need] a specific story about why they, in particular, will do well out of the new world order.\u201d Communications is everything in the scramble for global capital.<\/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\/automation\/\">automation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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         class=\"\r\n                story-section            \"\r\n            id=\"569102\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/last-nights-talk-shows-for-thursday-13-february-2020\/\">\r\n                            Last night\u2019s talk shows for Thursday, 13 February 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 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class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569102\" class=\"content-area-description single-story post-569102 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-diplomacy tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-healthcare tag-monetary-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>President Abdel Fattah El Sisi\u2019s meetings earned plenty of airtime last night. <\/strong>International praise of Egypt\u2019s economic reform progress was another topic that made it to the airwaves.<\/p>\n<p><strong>El Sisi discussed cooperation in education and healthcare in a meeting with a delegation from the French Senate<\/strong> in Cairo yesterday. He also touched on efforts combat religious extremism in Egypt, promote mutual understanding and acceptance, and women empowerment in politics. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=_6Y-JcFs4uw\">watch, runtime: 2:36<\/a>) and Min Masr reported on the meeting (<a href=\"https:\/\/www.youtube.com\/watch?v=Pi0LE3jasc0\">watch, runtime: 1:47<\/a>).<\/p>\n<p><strong>The EGP is expected to continue its rally in 2020<\/strong> after \u201crecord\u201d appreciation in 2019, according to a Bloomberg piece Al Hayah Al Youm's Lobna Assal proudly took note of(<a href=\"https:\/\/www.youtube.com\/watch?v=UBHUBFARH3E\">watch, runtime: 7:41<\/a>). Scroll down to this morning\u2019s Speed Round for a more comprehensive take on the story.<\/p>\n<p><strong>The talking heads are still reminding us on the daily that Egypt is safe so far from El Corona. <\/strong>Yahduth Fi Misr\u2019s Sherif Amer phoned Health Ministry undersecretary in Beheira Yousry Bayoumi, who denied social media posts alleging that a Chinese resident working in a textiles factory has been diagnosed with the virus after walking into Kafr El Dawar Hospital (<a href=\"https:\/\/www.youtube.com\/watch?v=64J2pzJmPNA\">watch, runtime: 3:38<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569103\" 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=\"569103\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/\">\r\n                            CBE to ease off rate cuts this year in a bid to support strong carry trade -EFG Hermes                        <\/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\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/\" 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\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/')\">\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\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/\">\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=CBE to ease off rate cuts this year in a bid to support strong carry trade -EFG Hermes&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/\">\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\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/&title=CBE to ease off rate cuts this year in a bid to support strong carry trade -EFG Hermes\">\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=CBE+to+ease+off+rate+cuts+this+year+in+a+bid+to+support+strong+carry+trade+-EFG+Hermes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Fcbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes%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\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/181.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"569104\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/cbe-to-ease-off-rate-cuts-this-year-in-a-bid-to-support-strong-carry-trade-efg-hermes\/181-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/181.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569103\" class=\"content-area-description single-story post-569103 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-bonds tag-central-bank-of-egypt tag-currencies tag-egp tag-emerging-markets tag-enterpriseam tag-inflation tag-interest-rates tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>CBE to ease off rate cuts this year in a bid to support strong carry trade -EFG <\/strong><strong>Hermes:<\/strong> The Central Bank of Egypt is likely to slow its easing cycle this year as it looks to maintain the strength of the carry trade and support the EGP, according to a research note from EFG Hermes <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-12\/world-s-best-carry-trade-thrives-with-egypt-s-rate-cuts-on-pause?srnd=premium-middle-east&sref=mmeFTDW1\">picked up by Bloomberg<\/a>. Tumbling inflation in 2H2019 allowed the central bank to cut interest rates by 450 bps last year, but EFG analysts Mohamed Abu Basha and Mostafa El Bakly think we\u2019ll be lucky to see a quarter of that in 2020, writing that bank officials will look \u201cto continue providing decent real rates for carry traders, who are important to maintain a healthy outlook for the EGP.\u201d<\/p>\n<p><strong>Policymakers could look at other options to stimulate borrowing:<\/strong> The CBE could turn to open-market operations to inject liquidity into the banking system, allowing it encourage lending and investment while scaling back its easing cycle. In light of this <strong>the investment bank is only giving a 50% chance of a cut when the CBE meets next week<\/strong>. Shuaa, meanwhile, <a href=\"https:\/\/ent.news\/2020\/2\/200211-Inflation-January-2020-Ar.pdf\">says in a separate note (pdf)<\/a> that the time is ripe for the CBE to begin cutting down its reserve requirement ratio (RRR) for bank deposits, which would allow commercial banks to increase money supply in the market. The prospect of scaling back banks\u2019 RRR was floated as a possibility by several economists <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/24\/central-bank-of-egypt-expected-to-begin-orchestrated-unfolding-of-liquidity-economists-say\/\">back in October<\/a>.<\/p>\n<p><strong>The EGP surge against the greenback has accelerated since the turn of the year<\/strong>, rising from EGP 16.00\/USD to EGP 15.66 \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0a75cfd-ef4e-4e7a-859b-61a72a4da882\">a level not seen since 17 November 2016<\/a>, two weeks after the government floated the currency. The currency has risen around 13% against the USD since the beginning of 2019.<\/p>\n<p><strong>This has been driven by a surge in foreign inflows into local-currency bonds,<\/strong> which have risen 3.7% against the USD this year, around four times the average return in emerging markets, according to Bloomberg Barclays EM indices.<\/p>\n<p><strong>Expect the EGP to 15.00 by year\u2019s end -DB:<\/strong> Deutsche Bank has forecast the EGP to fall to 15.50 against the USD by the end of 1H2020 and 15.00 by the end of the year in a report <a href=\"https:\/\/almalnews.com\/%D8%AF%D9%88%D9%8A%D8%AA%D8%B4%D9%87-%D8%A8%D9%86%D9%83-%D9%8A%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A5%D9%84%D9%89-15\/?fbclid=IwAR0CKH8ayqbz-oZeLBe9v1tt9WQihk1kCBsgpHiSX6gKTUGLGL7oinlK_w8\">picked up by the local press<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569127\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569128\" 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=\"569128\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/egypt-in-the-news-on-13-february-2020\/\">\r\n                            Egypt in the news on 13 February 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        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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+13+February+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Fegypt-in-the-news-on-13-february-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\/02\/13\/egypt-in-the-news-on-13-february-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569128\" class=\"content-area-description single-story post-569128 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-nubia tag-politics tag-population-growth tag-subsidies wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The international press is fascinated that there are 100 mn of us: <\/strong>The conversation on Egypt in the foreign press is still largely being led by the population swelling to 100 mn people this week.<\/p>\n<p>Other headlines to skim:<\/p>\n<ul>\n<li><strong>Egypt\u2019s proposed new cash subsidies system is alarming poorer citizens<\/strong>, who fear it will send product prices soaring and reduce availability, <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/02\/egypt-subsidies-cash-transition-fears-prices-economy-imf.html\">Al Monitor reports<\/a>.<\/li>\n<li><strong>Nubian citizens are still hoping to return to their ancestral land<\/strong> near Egypt\u2019s border with Sudan, even after thousands received financial compensation in January for successive displacements<strong>, <\/strong><a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/02\/egypts-nubians-get-more-money-but-little-hope-of-returni.html\">Al Monitor reports<\/a>.<\/li>\n<li><strong>Labor activist Kamal Khalil has been granted conditional release<\/strong> after being detained for about five months on charges of disseminating false news and joining an outlawed group, <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/egypt-frees-labor-activist-has-him-report-to-police-weekly\/2020\/02\/11\/12e58024-4cc6-11ea-967b-e074d302c7d4_story.html\">AP reports<\/a>. <\/li>\n<li><strong>Charcoal workers in Egypt labor in poor conditions<\/strong> to produce the coal used for the nation\u2019s love of shisha and BBQs, <a href=\"https:\/\/www.dawn.com\/news\/1534032\/smoke-soot-and-sweat-egypts-charcoal-workers-toil-to-fuel-love-for-shisha-and-bbqs\">AFP shows<\/a> with an image gallery of workers in a charcoal factory in Sharkia.<\/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\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nubia\/\">Nubia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/population-growth\/\">population growth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"569129\" 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=\"569129\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/elsewedy-electric-schenker-3a-to-kick-off-6-october-dry-port-project-in-february\/\">\r\n                            Elsewedy Electric-Schenker-3A to kick off 6 October dry port project in February                        <\/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\/02\/13\/elsewedy-electric-schenker-3a-to-kick-off-6-october-dry-port-project-in-february\/\" 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\/02\/13\/elsewedy-electric-schenker-3a-to-kick-off-6-october-dry-port-project-in-february\/')\">\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\/02\/13\/elsewedy-electric-schenker-3a-to-kick-off-6-october-dry-port-project-in-february\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                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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=Elsewedy+Electric-Schenker-3A+to+kick+off+6+October+dry+port+project+in+February+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Felsewedy-electric-schenker-3a-to-kick-off-6-october-dry-port-project-in-february%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\/02\/13\/elsewedy-electric-schenker-3a-to-kick-off-6-october-dry-port-project-in-february\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569129\" class=\"content-area-description single-story post-569129 post type-post status-publish format-standard hentry category-infrastructure tag-enterpriseam tag-infrastructure tag-logistics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Construction of the Sixth of October dry port is slated to begin at the end of the month after contracts were handed in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e3b8bdb-8453-4aa5-b0f5-aa1c04e5a6cf\">late January<\/a> to a consortium of Elsewedy Electric, Schenker Egypt, and 3A International, <a href=\"http:\/\/bit.ly\/2tQpmcz\">reports Egypt Today<\/a>. Work on the first 100 feddans of the 400-feddan project should be completed by the end of 2021 at an initial cost of USD 176 mn.<\/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\/infrastructure\/\">infrastructure<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569130\" 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=\"569130\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/\">\r\n                            Germany\u2019s TUI plans to increase arrivals to Egypt by 25% this year                        <\/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\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/\" 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\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/')\">\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\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/\">\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=Germany\u2019s TUI plans to increase arrivals to Egypt by 25% this year&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/\">\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\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/&title=Germany\u2019s TUI plans to increase arrivals to Egypt by 25% this year\">\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=Germany%E2%80%99s+TUI+plans+to+increase+arrivals+to+Egypt+by+25%25+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Fgermanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year%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\/02\/13\/germanys-tui-plans-to-increase-arrivals-to-egypt-by-25-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569130\" class=\"content-area-description single-story post-569130 post type-post status-publish format-standard hentry category-tourism tag-enterpriseam tag-germany tag-tourism tag-tui wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>TUI is planning to increase bookings to Egypt 20-25% y-o-y in 2020, <a href=\"https:\/\/alborsaanews.com\/2020\/02\/12\/1295732\">the local press reports<\/a>, citing a source close to the company. Increased demand for Red Sea destinations and Sharm El Sheik is prompting the German travel operator to devote more plane capacity, the source said. Germany was the top tourism source market for Egypt with 2.5 mn visitors in 2019, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea8c6d75-48bc-4c12-836c-0efce2448a3a\">according to a recent report by Colliers International<\/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\/germany\/\">Germany<\/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\/tui\/\">TUI<\/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=\"569131\" 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=\"569131\">\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\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/\">\r\n                            Gov\u2019t in talks with GB Auto to manufacture tuk-tuk alternatives                        <\/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\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/\" 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\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/')\">\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\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/\">\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=Gov\u2019t in talks with GB Auto to manufacture tuk-tuk alternatives&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/\">\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\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/&title=Gov\u2019t in talks with GB Auto to manufacture tuk-tuk alternatives\">\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=Gov%E2%80%99t+in+talks+with+GB+Auto+to+manufacture+tuk-tuk+alternatives+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Fgovt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives%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\/02\/13\/govt-in-talks-with-gb-auto-to-manufacture-tuk-tuk-alternatives\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569131\" class=\"content-area-description single-story post-569131 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam tag-manufacturing tag-public-enterprises-ministry tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Public Enterprises Ministry is in talks with GB Auto to manufacture alternatives to tuk-tuks, which the <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/22\/egypt-halts-tuk-tuk-licenses-moves-forward-with-plan-to-replace-three-wheeled-vehicles-with-gas-run-minivans\/\">government is bidding<\/a> to phase out, <a href=\"https:\/\/bit.ly\/2utvcBb\">Al Mal<\/a> reports, citing a ministry official. The company could produce the three-wheelers with state-owned El Nasr Automotive, according to the source.<\/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\/automotive-transportation\/\">Automotive + Transportation<\/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\/public-enterprises-ministry\/\">Public Enterprises Ministry<\/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=\"569132\" 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=\"569132\">\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\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/\">\r\n                            Odin investments in talks to acquire stake in a local financial leasing firm                        <\/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\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/\" 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\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/')\">\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\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/\">\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=Odin investments in talks to acquire stake in a local financial leasing firm&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/\">\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\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/&title=Odin investments in talks to acquire stake in a local financial leasing firm\">\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=Odin+investments+in+talks+to+acquire+stake+in+a+local+financial+leasing+firm+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Fodin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm%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\/02\/13\/odin-investments-in-talks-to-acquire-stake-in-a-local-financial-leasing-firm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569132\" class=\"content-area-description single-story post-569132 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-enterpriseam tag-ipo-watch tag-odin-investments wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Odin Investments is in talks to acquire a stake in an unnamed local financial leasing firm, the company said, <a href=\"https:\/\/bit.ly\/39w6TkR\">according to Al Mal<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking-finance\/\">BANKING + FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/odin-investments\/\">Odin Investments<\/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=\"569133\" 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=\"569133\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/my-morning-routine-hanaa-helmy\/\">\r\n                            My Morning Routine: Hanaa Helmy                        <\/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\/02\/13\/my-morning-routine-hanaa-helmy\/\" 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\/02\/13\/my-morning-routine-hanaa-helmy\/')\">\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\/02\/13\/my-morning-routine-hanaa-helmy\/\">\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=My Morning Routine: Hanaa Helmy&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/my-morning-routine-hanaa-helmy\/\">\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\/02\/13\/my-morning-routine-hanaa-helmy\/&title=My Morning Routine: Hanaa Helmy\">\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=My+Morning+Routine%3A+Hanaa+Helmy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F13%2Fmy-morning-routine-hanaa-helmy%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\/02\/13\/my-morning-routine-hanaa-helmy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/188.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"569134\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/my-morning-routine-hanaa-helmy\/188-jpg-62\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/188.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"188.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/188.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/188.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569133\" class=\"content-area-description single-story post-569133 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-civil-society tag-development tag-efg-hermes tag-enterpriseam tag-investment-watch tag-my-morning-routine tag-philanthropy tag-sdgs tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Hanaa Helmy, CEO of the EFG Hermes Foundation and head of the CSR department at <\/strong><strong>EFG Hermes:<\/strong> My Morning Routine looks each week at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is <a href=\"https:\/\/www.linkedin.com\/in\/hanaa-helmy-224b9a15\/\">Hanaa Helmy<\/a>, CEO of the EFG Hermes Foundation and head of the CSR department at <a href=\"https:\/\/www.efghermes.com\/en\/Pages\/default.aspx\">EFG Hermes<\/a>, a leading investment bank present throughout MENA.<\/p>\n<p><strong>My name is Hanaa Helmy<\/strong>, and I\u2019m the CEO of the <a href=\"https:\/\/www.efghermesfoundation.org\/\">EFG Hermes Foundation<\/a> and the head of the <a href=\"https:\/\/www.efghermes.com\/en\/csr\/Pages\/sustainability-strategy.aspx\">CSR department at EFG Hermes<\/a>.<\/p>\n<p><strong>I\u2019m without a doubt a morning person.<\/strong> I get up before my alarm goes off, and I never hit the snooze button. My day starts with upbeat music \u2014 often Frank Sinatra or Motown classics \u2014 ten minutes of stretching, and exchanging morning greetings with my family, who live all across the world, and with whom I\u2019m very close.<\/p>\n<p><strong>I first started reading Enterprise years ago because of its talk show coverage.<\/strong> Now it\u2019s my first stop for catching up on pressing local and global news during my morning commute, and really sets me up for the day.<\/p>\n<p><strong>My two roles involve wearing radically different hats. <\/strong>The foundation focuses on sustainable, comprehensive community development, often working with partner NGOs and contractors, as well as directly with beneficiaries. A lot of our projects focus on high quality education, income generation, infrastructure, and human development. CSR is a very different ballgame: We work to promote the <a href=\"https:\/\/sustainabledevelopment.un.org\/?menu=1300\">Sustainable Development Goals<\/a> internally and to build the company\u2019s capacity to adopt good ESG measures \u2014 as we are the first financial services corporation to become a signatory to the <a href=\"https:\/\/www.unpri.org\/\">United Nations Principles for Responsible Investment (UNPRI)<\/a> in Egypt \u2014 to remain globally competitive.<\/p>\n<p><strong>This contrast is one of the things I love about my work. <\/strong>On any given day, I could be traveling to a village in Luxor to speak to a man who has very little access to water or sanitation, and a few hours later I\u2019m meeting with a minister. I\u2019ve just returned from a fundraising trip to Kuwait, and am constantly in touch with our partners, as well as overseeing all our project implementation.<\/p>\n<p><strong>Our community development work depends on trust building<\/strong>, and is always done with a long-term vision. We might be demolishing and rebuilding houses, or refurbishing health units, and this takes between six months and three years. During that time, we work with the community to understand what resources they have and what they need, to know their rights and support themselves economically. It\u2019s wonderful when you start to see positive changes, including when people feel empowered to complain if you do something they don\u2019t agree with. This shows they are becoming very engaged, as citizens.<\/p>\n<p><strong>CSR isn\u2019t about how a company spends its money so much as how it makes its money.<\/strong> The approach needs to be sustainable and ethical, and it involves looking at every business line in the firm and asking whether it takes environmental, social, and governance factors into account when making investment decisions. The company doesn\u2019t operate simply to make more money and give a percentage of the profits to philanthropic initiatives. That\u2019s not sustainable, and it isn\u2019t good for business. So a big part of what we do in the CSR department is ensure that all the employees are heading in the same direction.<\/p>\n<p><strong>One of the ways I recharge is by reading a lot.<\/strong> I recently read <a href=\"https:\/\/www.amazon.com\/Ikigai-Japanese-Secret-Long-Happy\/dp\/0143130722\">Ikigai: The Japanese Secret to a Long and Happy Life<\/a>, which is all about practicing mindfulness amid the unpredictability and chaos of everyday life. This takes a lot of practice and a good sense of humor.<\/p>\n<p><strong>I make an effort to create a climate of psychological safety for my team<\/strong>, so they can always come in and express what\u2019s on their minds. I believe that growth comes through openness, allowing people to be creative and make mistakes. You can\u2019t be on your toes day in and day out.<\/p>\n<p><strong>One of the milestones I\u2019m most proud of involves a training program we did for staff at a pre-school in Luxor. <\/strong>This is an inclusive school, with children who have special educational needs learning alongside typically developing children. We offered an early childhood training program for women in the community, and now there are 30 teachers and teacher aides working with 75 children at this school \u2014 20 of whom have special educational needs. Thanks to the program, we\u2019ve provided essential human and professional skills that these women will use throughout their lives, and when raising their own children. We now have another 190 applicants requesting to be trained in the program.<\/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\/civil-society\/\">civil society<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/philanthropy\/\">philanthropy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sdgs\/\">SDGs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/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=\"569135\" 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=\"569135\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/the-market-yesterday-29\/\">\r\n                            The Market Yesterday                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/13\/the-market-yesterday-29\/\" 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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CIB, the index\u2019s heaviest constituent, ended down 1.3%. EGX30\u2019s top performing constituents were Orascom Construction up 1.5%, GB Auto up 0.9%, and Egypt Kuwait Holding up 0.4%. Yesterday\u2019s worst performing stocks were Sidi Kerir Petrochemicals down 5.3%, Heliopolis Housing down 2.6% and AMOC down 2.6%. The market turnover was EGP 427 mn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -11.3 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -15.5 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +26.7 mn<\/p>\n<p><strong>Retail<\/strong>: 63.9% of total trades | 68.4% of buyers | 59.3% of sellers<br \/>\n <strong>Institutions<\/strong>: 36.1% of total trades | 31.6% of buyers | 40.7% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 51.41 (+0.47%)<br \/>\n <strong>Brent:<\/strong> USD 55.94 (+0.27%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.84 MMBtu, (-0.05%, March 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,574.10 \/ troy ounce (+0.16%)<\/p>\n<p><strong>TASI:<\/strong> 7,915.36 (+0.25%) (YTD: -5.65%)<br \/>\n <strong>ADX:<\/strong> 5,065.69 (-0.15%) (YTD: -0.20%)<br \/>\n <strong>DFM:<\/strong> 2,729.92 (-0.45%) (YTD: -1.26%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,909.98 (-0.19%)<br \/>\n <strong>QE:<\/strong> 9,953.37 (-1.42%) (YTD: -4.53%)<br \/>\n <strong>MSM:<\/strong> 4,108.12 (+0.06%) (YTD: +3.19%)<br \/>\n <strong>BB: <\/strong>1,661.73 (-0.07%) (YTD: +3.20%)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569136\" 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\/02\/13\/569136\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569136\" class=\"content-area-description single-story post-569136 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>February: An Italian business delegation <a href=\"https:\/\/almalnews.com\/%d9%88%d9%81%d8%af-%d8%a5%d9%8a%d8%b7%d8%a7%d9%84%d9%8a-%d9%8a%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d9%81%d8%a8%d8%b1%d8%a7%d9%8a%d8%b1-%d8%a7%d9%84%d9%85%d9%82%d8%a8%d9%84-%d9%84%d9%84%d8%aa%d8%b9\/\">will visit Egypt<\/a> to discuss investments in the Port Said industrial zone.<\/p>\n<p>February: Higher Education Minister Khaled Abdel-Ghaffar <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=19112019&id=2b9e9b1c-45ad-4af5-82a9-f8650319c562\">will visit<\/a> Minsk, Belarus.<\/p>\n<p>11-13 February (Tuesday-Thursday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>12-13 February (Wednesday-Thursday): Egypt, Ethiopia and Sudan to meet in Washington, DC, to review final GERD agreement.<\/p>\n<p>13-15 February (Thursday-Saturday): Kauffman Fellows visit Cairo.<\/p>\n<p>14-16 February (Friday-Sunday): A Euro-Mediterranean Organization for Economic and Development Cooperation delegation <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=22012020&id=b3a1f3df-a1cf-4b6e-853e-05c1e9e43111\">will visit Egypt<\/a> to discuss cooperating in the field of organic cotton and home textiles<\/p>\n<p>19-21 February (Wednesday-Friday): Egyptian Chamber of Leather Industry will participate in the <a href=\"https:\/\/www.lineapelle-fair.it\/en\">Lineapelle Milano<\/a> International Trade Fair, Milan, Italy.<\/p>\n<p>20 February (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>23 February (Sunday): Court session for Arabia Investments Holdings\u2019 <a href=\"https:\/\/almalnews.com\/%d8%aa%d8%a3%d8%ac%d9%8a%d9%84-%d8%af%d8%b9%d9%88%d9%89-%d8%a7%d9%84%d8%b9%d8%b1%d8%a8%d9%8a%d8%a9-%d9%84%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d8%a7%d8%aa-%d8%b6%d8%af-%d8%a8%d9%8a%d8%ac-6\/\">lawsuit against Peugeot<\/a>. It was previously postponed to 24 November 2019 and then to 5 January 2020, and now 23 February.<\/p>\n<p>23 February (Sunday): Court session for Amer Group, Porto Group compensation claim against Antaradous<\/p>\n<p>March: <a href=\"https:\/\/bit.ly\/2RMVwyZ\">South Korean business delegation to visit Egypt<\/a>.<\/p>\n<p>March: <a href=\"http:\/\/www.menafatf.org\/about\">The Middle East and North Africa Financial Action Task Force<\/a> (MENAFATF) <a href=\"https:\/\/almalnews.com\/%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a9-%d8%a7%d9%84%d8%b9%d9%85%d9%84-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a-%d8%aa%d8%b2%d9%88%d8%b1-%d9%85%d8%b5%d8%b1-%d9%85%d8%a7%d8%b1%d8%b3-%d8%a7%d9%84%d9%85%d9%82\/\">will visit<\/a> Egypt to assess the progress of actions taken to combat money laundering and terrorist sponsoring activities.<\/p>\n<p>1 March (Sunday): <a href=\"https:\/\/www.pdac.ca\/convention\/programming\/presentation-reception-rooms\/sessions\/presentation-reception-rooms\/egyptian-mining-day-(reception-room)\">Egyptian Mining Day<\/a>, Prospectors & Developers Association of Canada Convention, Toronto, Canada.<\/p>\n<p>1 March (Sunday): <a href=\"https:\/\/www.youm7.com\/story\/2019\/11\/28\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%BA%D8%B1%D9%81%D8%A9-%D8%A7%D9%84%D8%A5%D8%B3%D9%83%D9%86%D8%AF%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%85%D8%A4%D8%AA%D9%85%D8%B1%D8%A7-%D8%AF%D9%88%D9%84%D9%8A%D8%A7-%D8%B9%D9%86-%D8%A7%D9%84%D9%84%D9%88%D8%AC%D8%B3%D8%AA%D9%8A%D8%A7%D8%AA\/4516709\">A conference<\/a> on \u201clogistics and its impact on the movement of goods and industry,\u201d venue TBD, Alexandria.<\/p>\n<p>2-5 March (Monday-Thursday): EFG Hermes\u2019 16th annual <a href=\"https:\/\/oneonone2020.efghermes.com\/pages\/home.aspx\">One on One conference<\/a>, Atlantis, The Palm, Dubai.<\/p>\n<p>3 March (Tuesday): Business Today\u2019s <a href=\"https:\/\/ent.news\/2020\/1\/BT100_Announcement-converted.pdf\">bt100 awards ceremony<\/a>, Cairo.<\/p>\n<p>4-5 March (Wednesday-Thursday): <a href=\"https:\/\/ent.news\/2019\/10\/Press-Release-26th-Annual-Women-Economic-Forum-March-2020-Cairo-Egypt.pdf\">Women Economic Forum<\/a>, Cairo.<\/p>\n<p>5-8 March (Wednesday-Saturday): 25 Egyptian companies will participate in <a href=\"https:\/\/almalnews.com\/25-%d8%b4%d8%b1%d9%83%d8%a9-%d9%85%d8%b5%d8%b1%d9%8a%d8%a9-%d8%aa%d8%b4%d8%a7%d8%b1%d9%83-%d8%a8%d9%85%d9%86%d8%aa%d8%af%d9%89-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1-%d9%81%d9%8a\/\">a forum on investment in startups<\/a> in Saudi\u2019s King Abdullah Economic City.<\/p>\n<p>6-8 March: Arab Banking Forum, for heads of risk management in Arab banks, organized by the Union of Arab Banks,with the Central Bank of Egypt and the Federation of Egyptian Banks.<\/p>\n<p>7 March (Saturday): International Conference for Investment organized by Suez Canal Economic Authority, Al Galala City, Egypt<\/p>\n<p>17-18 March (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>25-26 March (Wednesday-Thursday): <a href=\"http:\/\/www.megaprojectsconf.com\/\">Mega Projects Conference<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>26 March (Thursday): <a href=\"https:\/\/almalnews.com\/%d8%aa%d8%a3%d8%ac%d9%8a%d9%84-%d8%af%d8%b9%d9%88%d9%89-%d8%b4%d8%b1%d9%83%d8%a9-%d8%b3%d9%88%d8%b1%d9%8a%d8%a9-%d8%b6%d8%af-%d8%a8%d9%88%d8%b1%d8%aa%d9%88-%d8%ac%d8%b1%d9%88%d8%a8-%d8%a5%d9%84%d9%89\/\">Court session<\/a> for Amer Group, Porto Group lawsuit against Antaradous.<\/p>\n<p>7 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>12 April (Sunday): Easter Sunday.<\/p>\n<p>20 April (Monday): Sham El Nessim, national holiday.<\/p>\n<p>23 April (Thursday): First day of Ramadan (TBC).<\/p>\n<p>25 April (Saturday): Sinai Liberation Day, national holiday.<\/p>\n<p>28-29 April (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>5-7 May (Tuesday-Thursday): <a href=\"https:\/\/www.afsic.net\/\">AFSIC - Investing in Africa<\/a>, London, United Kingdom.<\/p>\n<p>14 May (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>23-26 May (Saturday-Tuesday): Eid El Fitr (TBC).<\/p>\n<p>9-10 June (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>17-20 June (Wednesday-Saturday): <a href=\"https:\/\/www.automech-formula.com\/en\/home.html\">2019 Automech Formula car expo<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>30 June (Sunday): June 2013 protests anniversary, national holiday.<\/p>\n<p>25 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>28-29 July (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>30 July-3 August (Thursday-Monday): Eid El Adha (TBC), national holiday.<\/p>\n<p>13 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>20 August (Wednesday-Thursday): Islamic New Year (TBC), national holiday.<\/p>\n<p>15-16 September (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>24 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>6 October (Tuesday): Armed Forces Day, national holiday.<\/p>\n<p>29 October (Thursday): Prophet Mohamed\u2019s birthday (TBC), national holiday.<\/p>\n<p>November: Egypt <a href=\"http:\/\/gate.ahram.org.eg\/News\/2284801.aspx\">will host simultaneously<\/a> the International Capital Market Association\u2019s emerging market, and Africa and Middle East meetings.<\/p>\n<p>4-5 November (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>12 November (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>15-16 December (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>24 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>25 December (Friday): Western Christmas.<\/p>\n<p>1 January 2021 (Friday): New Year\u2019s Day, national holiday.<\/p>\n<p>7 January 2021 (Thursday): Coptic Christmas, national holiday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":569099,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-569098","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"26a1a6f8-49d5-46ac-ae3b-4aa91f7daf38","teaser":"","photo_url":"https:\/\/ent.news\/2020\/2\/179.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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