{"id":569405,"date":"2020-02-24T04:43:34","date_gmt":"2020-02-24T04:43:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=569405"},"modified":"2025-12-16T06:54:09","modified_gmt":"2025-12-16T06:54:09","slug":"will-a-strengthening-egp-put-pressure-on-corporate-earnings","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/will-a-strengthening-egp-put-pressure-on-corporate-earnings\/","title":{"rendered":"Will a strengthening EGP put pressure on corporate earnings?"},"content":{"rendered":"<section id=\"569407\" 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=\"569407\">\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\/24\/what-were-tracking-on-24-february-2020\/\">\r\n                            What we\u2019re tracking on 24 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\/24\/what-were-tracking-on-24-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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Currently the biggest outbreak of the virus in Europe, Italy has banned public gatherings including conferences and football matches and canceled the last two days of the Venice carnival.<\/li>\n<li><strong>Iran has the<\/strong><strong> highest infection numbers in the wider region<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-22\/u-s-raises-japan-warning-surge-in-south-korea-virus-update?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg reports<\/a>, and its neighbors are closing off their borders. <\/li>\n<li><strong>South Korea\u2019s business community is braced for the worst after an infected worker turned up at a Samsung plant<\/strong>. Six people have died in South Korea and more than 600 people have been infected, <a href=\"https:\/\/www.bbc.com\/news\/world-asia-51603251\">according to BBC<\/a>.<\/li>\n<\/ul><p><strong>The total number of cases worldwide is nearing 80k with almost 2.5k deaths<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/graphics\/2020-wuhan-novel-coronavirus-outbreak\/\">according to<\/a><a href=\"https:\/\/www.bloomberg.com\/graphics\/2020-wuhan-novel-coronavirus-outbreak\/\">a live Bloomberg tracker<\/a>. The story is front page news in the global business press, including the <a href=\"https:\/\/www.ft.com\/content\/2f937640-5621-11ea-abe5-8e03987b7b20\">Financial Times<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/coronavirus-spreads-outside-china-as-officials-worries-mount-11582473370?mod=hp_lead_pos2\">Wall Street Journal<\/a>.<\/p><p><strong>Scientists are now concerned they don\u2019t know how the virus is spreading: <\/strong>As the virus rapidly spread in Italy, Iran and South Korea, a World Health Organization spokesperson noted that \u201cinfections that are now emerging in people who haven\u2019t traveled to China or come into contact with confirmed cases show <strong>\u2018<\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/coronavirus-spreads-outside-china-as-officials-worries-mount-11582473370?mod=hp_lead_pos2\">it\u2019s not clear how the virus is spreading<\/a><\/strong>.\u2019\u201d<\/p><p><strong>Pundits think the global economy will \u201cshudder as [the] coronavirus threatens the world <\/strong><strong>economy,\u201d <\/strong>the <a href=\"https:\/\/www.wsj.com\/articles\/world-economy-shudders-as-coronavirus-threatens-global-supply-chains-11582474608?mod=hp_lead_pos1\">Wall Street Journal<\/a> writes, quoting one business leader who described the impact of covid-19 on his business as a \u201conce-in-a-generation event.\u201d<\/p><p><strong>The Dow could open down more than 400 points <\/strong>as the market gets its head around the extent of the contagion, <a href=\"https:\/\/www.cnbc.com\/2020\/02\/24\/us-futures-coronavirus-outbreak.html\">CNBC<\/a> reported near dispatch time this morning. Nasdaq and S&amp;P500 futures also pointed to lower opens this morning. <strong><a href=\"https:\/\/www.reuters.com\/article\/us-global-oil\/oil-prices-skid-on-demand-concerns-as-virus-spreads-globally-idUSKCN20H0UU\">Oil prices are down 3%.<\/a><\/strong><\/p><p><strong>So where does Egypt stand? It\u2019s a mixed bag, but mostly good (so far). <\/strong>There are <strong>no new <\/strong><strong>cases in Egypt<\/strong> as of this morning, and the country\u2019s one patient has tested negative for the virus for days now. Worth noting: A study in the British medical journal <a href=\"https:\/\/www.eurekalert.org\/pub_releases\/2020-02\/tl-pss021920.php\">The Lancet<\/a> found that while Egypt, Algeria, and South Africa \u201cwere at the highest risk [in Africa] of importing a COVID-19 case from China,\u201d all three countries \u201chave the most prepared health systems in the continent and are least vulnerable.\u201d<\/p><hr class=\"grey-line\"><p><strong>EGP WATCH- <\/strong>The EGP rally against the greenback is still going strong, bringing it to EGP 15.49 yesterday. The currency has now risen 51 piasters so far in 2020. You can check out our breakdown of the rally and what it means for industry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a5f3ac8-b4a2-421b-a27e-f63008c4bb1b\">here<\/a>.<\/p><p><strong>Our friends at EFG Hermes are holding their annual <\/strong><strong><a href=\"https:\/\/oneonone2020.efghermes.com\/pages\/home.aspx\">One on One conference<\/a><\/strong><strong> on 2-5 March<\/strong> at Atlantis, Dubai. The gathering is the world\u2019s largest frontier- and emerging-market-focused investor conference.<\/p><p>Other dates for your diaries during the first week of March:<\/p><ul>\n<li><strong>Business Today\u2019s <\/strong><strong><a href=\"https:\/\/ent.news\/2020\/1\/BT100_Announcement-converted.pdf\">bt100 awards ceremony (pdf)<\/a><\/strong> takes place on Tuesday 3 March.<\/li>\n<li><strong>The two-day <\/strong><strong><a href=\"https:\/\/ent.news\/2019\/10\/Press-Release-26th-Annual-Women-Economic-Forum-March-2020-Cairo-Egypt.pdf\">Women Economic Forum (pdf)<\/a><\/strong> gets underway on Wednesday, 4 March in Cairo.<\/li>\n<li><strong>The Union of Arab Banks will hold <\/strong><strong><a href=\"http:\/\/www.uabonline.org\/en\/events\/conferences\/chiefriskofficerscrosinarabbanks\/72792\/0\">a three-day forum for risk officers<\/a><\/strong> on 6-8 March in Hurghada.<\/li>\n<li><strong><a href=\"https:\/\/www.ecrg.de\/en\/events\/196-international-investment-conference-suez-canal-economic-zone\">A one-day investment conference<\/a><\/strong><strong> for the Suez Canal Economic Zone<\/strong> will take place on Saturday, 7 March.<\/li>\n<\/ul><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\/2020\/2\/Mesca-1600px.png?ssl=1\" alt=\"enterprise\"><\/a> Located on the North West Corner of Somabay, lies Mesca Beach, stretched out onto 1.5km of silky sand. Mesca Beach is best known for its big tidal changes, shallow sandy waters and mounds of mangroves, in addition to the 7Bft Kite House, famously known as one of the best surfing spots on the planet. Combining luxury and adventure, the beach will be welcoming its very own Mesca Hotel, making its debut later this year.<\/p><p><strong>It\u2019s the final day of the G20 summit in Riyadh<\/strong>, where finance ministers and central bank governors focused on the global economic slowdown fueled by the covid-19 outbreak, but appeared to struggle to find common ground on a \u201ccoordinated response,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-23\/climate-change-global-tax-emerge-as-snags-for-g-20-communique?srnd=premium-middle-east&amp;sref=mmeFTDW1\">sources told Bloomberg<\/a>. The communique from the summit only referenced the epidemic once. Delegates from 20 countries also talked about digital taxation, with the EU spearheading a drive to regulate Big Tech, while the US is still dragging its feet out of fear that taxing tech companies could hinder innovation, <a href=\"https:\/\/www.cnbc.com\/2020\/02\/22\/g-20-summit-us-and-europe-divided-on-how-to-tax-tech-giants.html\">CNBC says<\/a>. The final communique <a href=\"https:\/\/g20.org\/en\/media\/Pages\/pressroom.aspx\">will be here<\/a> once the summit wraps.<\/p><p><strong>Meanwhile, central bank governors had the price growth challenge on their minds<\/strong>, with the US, Japan, and the EU discussing how aging populations are preventing inflation from meeting their 2% target despite stimulus measures, <a href=\"https:\/\/www.reuters.com\/article\/us-g20-saudi-cenbank-analysis\/shifting-sands-of-inflation-unsettle-top-bankers-at-riyadh-g20-meeting-idUSKCN20H0EC\">according to Reuters<\/a>. The Fed is looking into allowing inflation to run above target to make up for the economic downturn.<\/p><hr class=\"grey-line\"><p><strong>Two Finland-based pension funds holding USD 108 bn are racing to hedge against <\/strong><strong>global warming repercussions.<\/strong> The \u201cMassive Risk\u201d of climate change is driving the two funds to limit investments to companies that are seriously considering environmental, social, and governance aspects to reach the 2035 climate goals, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-23\/-massive-risk-drives-esg-deadline-at-108-billion-finnish-funds?sref=mmeFTDW1\">Bloomberg reports<\/a>. One fund, Varma Mutual Pension Insurance, has a plan to offload stocks with thermal coal exposure by 2025.<\/p><hr class=\"grey-line\"><p><strong>US Democrats are scrambling to keep up with Bernie Sanders in the primary election <\/strong><strong>race after the senator won the Nevada Caucus<\/strong> by a landslide, earning some 48% of county convention delegates, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-election\/democratic-rivals-aim-to-slow-sanders-momentum-after-his-big-win-in-nevada-idUSKCN20H078\">Reuters reports<\/a>. The results of the Nevada vote have placed Sanders as the frontrunner in the race to become the official party candidate in this fall\u2019s presidential election. The possibility of having Sanders face off against Donald Trump is concerning to more centrist Democrats, who think the senator\u2019s far-left policies would be a death sentence for the party\u2019s \u201cchances of winning back the White House and Senate and holding on to the US House of Representatives,\u201d the <a href=\"https:\/\/www.ft.com\/content\/de168544-55af-11ea-abe5-8e03987b7b20\">Financial Times says<\/a>.<\/p><hr class=\"grey-line\"><p><strong>Two must-reads about work <\/strong>to liven up your commute this morning to \u2026 work:<\/p><ul>\n<li><strong>AI is coming for your job <\/strong>if you\u2019re a marketing type, financial advisor or computer programmer, according to the <a href=\"https:\/\/www.wsj.com\/articles\/ai-is-the-next-workplace-disrupterand-its-coming-for-high-skilled-jobs-11582470000?mod=hp_lead_pos11\">Wall Street Journal<\/a>.<\/li>\n<li><strong>Companies are <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/5871be6c-32ce-11ea-a329-0bcf87a328f2\">putting food at the center of their offering to staff<\/a><\/strong>, the Financial Times suggests in a piece in its (rather good) special on the <a href=\"https:\/\/www.ft.com\/reports\/future-workplace\">Future of the Workplace<\/a>.<\/li>\n<\/ul><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> We look at the costs and benefits of the growth of Egypt\u2019s high-end preschool industry.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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          <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paris-agreement\/\">Paris Agreement<\/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\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n  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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \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\/24\/last-nights-talks-shows-for-monday-24-february\/\">\r\n                            Last night\u2019s talks shows for Monday, 24 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 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               <\/a>\r\n\r\n                \n<article id=\"post-569409\" class=\"content-area-description single-story post-569409 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-environment tag-mohamed-farid tag-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a fairly uneventful night on the airwaves, save for a chat with EGX boss Mohamed<\/strong><strong> Farid<\/strong> and updates on the Grand Ethiopian Renaissance Dam (GERD).<\/p>\n<p><strong>Unnamed energy company to IPO before Ramadan; financial services, chemicals companies after September -Farid: <\/strong>An unnamed energy company is expected to sell shares in an initial public offering before Ramadan, which will be observed toward the end of April this year, Farid tells Al Kahera Al Aan\u2019s Lamees El Hadidi. Two other companies, one in the financial and payments sector and another in the chemicals sector, could go to market after September, Farid added.<\/p>\n<p><strong>The stock exchange is open for all as a channel for both saving and investing, <\/strong>Farid also said. There is a mistaken belief that only large investors have access to the market, but numbers don\u2019t matter, the EGX chairman added. The bourse has been pushing to attract younger investors through online and television adverts (<a href=\"https:\/\/www.youtube.com\/watch?v=WIkc3mfxgTs\">watch, runtime: 1:00<\/a>). According to Farid, the majority of EGX investors are over 40 years old. You can watch <a href=\"https:\/\/www.youtube.com\/watch?v=Lz2FH89Xa7Y&feature=youtu.be&t=1985\">Farid\u2019s interview with El Hadidy here<\/a> (runtime: 22:05).<\/p>\n<p><strong>Cairo, Addis Ababa, Khartoum reportedly receive GERD agreement draft: <\/strong>A draft agreement on the rules of filling and operating the Grand Ethiopian Renaissance Dam (GERD) expected to be signed before the end of the month has reportedly been sent to the Egyptian, Ethiopian, and Sudanese capitals, but authorities denied the news, Al Hadath TV\u2019s Washington correspondent, Pierre Ghanem, told El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=2woj9gdGngM\">watch, runtime: 6:17<\/a>). The US Treasury Department and the World Bank, which recently stepped in to mediate the GERD dispute, were preparing the draft. Delegations from the three countries should be meeting on Friday to review the draft ahead of signing an agreement.<\/p>\n<p><strong>Gov\u2019t focuses on raising awareness about the environment: <\/strong>Lobna Assal phoned the environment minister for a comment about a meeting yesterday with President Abdel Fattah El Sisi and efforts by the El Sisi administration to protect the environment and conserve natural resources (<a href=\"https:\/\/www.youtube.com\/watch?v=ak8vygBpKog\">watch, runtime: 4:51<\/a>). A recently launched presidential initiative, \u201cprepare for green,\u201d aims to raise environmental awareness in the country.<\/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\/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\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569410\" 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=\"569410\">\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\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/\">\r\n                            Strengthening EGP to put pressure on corporate earnings -Pharos                        <\/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\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/\" 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\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/')\">\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\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/\">\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=Strengthening EGP to put pressure on corporate earnings -Pharos&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/\">\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\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/&title=Strengthening EGP to put pressure on corporate earnings -Pharos\">\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=Strengthening+EGP+to+put+pressure+on+corporate+earnings+-Pharos+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F24%2Fstrengthening-egp-to-put-pressure-on-corporate-earnings-pharos%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\/24\/strengthening-egp-to-put-pressure-on-corporate-earnings-pharos\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569410\" class=\"content-area-description single-story post-569410 post type-post status-publish format-standard hentry category-speed-round tag-budget-watch tag-economy tag-enterpriseam tag-finance-ministry tag-gdp tag-ratio 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>Strengthening EGP to put pressure on corporate earnings -Pharos:<\/strong> Corporate earnings will come under pressure over the next four quarters as the EGP continues to strengthen against the USD, Pharos Holding\u2019s head of research Radwa El Swaify wrote in a report. The research house forecasts the currency changing hands in the EGP 14.50 to 15.50 band against the greenback this year and predicts \u201ca gradual weakness in earnings over the next four quarters\u201d through both a direct impact and \u201cindirect effects.\u201d On that last bit, El Swaify suggests that when the \u201cexchange rate was depreciating, consumers were rushing into buying to avoid higher cost in the near future. Now, that exchange rate is weakening, the purchase decision is postponed until prices find a bottom.\u201d<\/p>\n<p>In short: <strong>The appreciating currency is going to sap export sales and prompt consumers to hold back <\/strong>from major purchases as they wait to see whether prices have hit bottom.<\/p>\n<p><strong>Earnings may also be buffeted by macro headwinds: <\/strong>Cheaper commodity prices, slowing global trade or lower infrastructure spending in Egypt may place further pressure on corporate earnings. \u201cWe expect the market to continue to be trapped by these dynamics until the strength in the FX rate comes to a stop or global commodity prices find a floor,\u201d the report says.<\/p>\n<p><strong>Corporate earnings had recovered to pre-float levels at the end of last year<\/strong>, with inflation decelerating rapidly, FX reserves reaching an all-time high, and economic growth clocking in at more than 5.6% in 2019, <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels-7241\/\">Bloomberg said in November<\/a>.<\/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\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ratio\/\">Ratio<\/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=\"569433\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569434\" 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=\"569434\">\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\/24\/egypt-in-the-news-on-24-february-2020\/\">\r\n                            Egypt in the News on 24 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\/24\/egypt-in-the-news-on-24-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/egypt-in-the-news-on-24-february-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\/02\/24\/egypt-in-the-news-on-24-february-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 24 February 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/egypt-in-the-news-on-24-february-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\/02\/24\/egypt-in-the-news-on-24-february-2020\/&title=Egypt in the News on 24 February 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+24+February+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F24%2Fegypt-in-the-news-on-24-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\/24\/egypt-in-the-news-on-24-february-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569434\" class=\"content-area-description single-story post-569434 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-israel tag-politics tag-religion wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Jews visiting Alexandria<\/strong><strong>\u2019s<\/strong><strong> synagogue decades later aren\u2019t sure whether to be hopeful or <\/strong><strong>despondent: <\/strong>Last week\u2019s homecoming for 180 Jews that were dispelled from Egypt back in 1956 was a bittersweet event combining a sense of loss with a twinge of hope, <a href=\"https:\/\/www.nytimes.com\/2020\/02\/23\/world\/middleeast\/a-bittersweet-homecoming-for-egypts-jews.html\">Declan Walsh and Ronen Bergman write for the New York Times<\/a>. The group were taken to the recently renovated synagogue where they were overwhelmed by the restoration of the place of worship they frequented as children. Still, the story asks: Will the restored synagogues be opened to the public as Egypt embraces its Jewish heritage? Or will the renovations remain out of the public eye?<\/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\/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\/israel\/\">Israel<\/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\/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=\"569438\" 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=\"569438\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/the-market-yesterday-36\/\">\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\/24\/the-market-yesterday-36\/\" 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\/24\/the-market-yesterday-36\/')\">\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\/24\/the-market-yesterday-36\/\">\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 Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/the-market-yesterday-36\/\">\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\/24\/the-market-yesterday-36\/&title=The Market Yesterday\">\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+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F02%2F24%2Fthe-market-yesterday-36%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\/24\/the-market-yesterday-36\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569438\" class=\"content-area-description single-story post-569438 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.49 | Sell 15.59<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.49 | Sell 15.59<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.51 | Sell 15.61<\/p>\n<p><strong>EGX30<\/strong> (Sunday): 13,688 (-0.2%)<br \/>\n <strong>Turnover:<\/strong> EGP 361 mn (38% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -2.0%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session down 0.2%. CIB, the index\u2019s heaviest constituent, ended down 0.1%. EGX30\u2019s top performing constituents were SODIC up 2.9%, TMG Holding up 1.7%, and EFG Hermes up 1.2%. Yesterday\u2019s worst performing stocks were Telecom Egypt down 2.1%, Credit Agricole down 2.0% and Juhayna down 1.6%. The market turnover was EGP 361 mn, and regional investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Long | EGP +5.9 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -31.3 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +25.5 mn<\/p>\n<p><strong>Retail<\/strong>: 68.4% of total trades | 69.9% of buyers | 66.9% of sellers<br \/>\n <strong>Institutions<\/strong>: 31.6% of total trades | 30.1% of buyers | 33.1% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 51.92 (-2.74%)<br \/>\n <strong>Brent:<\/strong> USD 56.82 (-2.87%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.86 MMBtu, (-2.26%, March 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,664.40 \/ troy ounce (+0.95%)<\/p>\n<p><strong>TASI:<\/strong> 7,982.95 (-0.31%) (YTD: -4.84%)<br \/>\n <strong>ADX:<\/strong> 5,041.86 (+0.17%) (YTD: -0.67%)<br \/>\n <strong>DFM:<\/strong> 2,717.80 (-0.72%) (YTD: -1.70%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,848.55 (-0.33%)<br \/>\n <strong>QE:<\/strong> 9,898.40 (-0.36%) (YTD: -5.06%)<br \/>\n <strong>MSM:<\/strong> 4,197.32 (+0.14%) (YTD: +5.43%)<br \/>\n <strong>BB: <\/strong>1,668.66 (0.00%) (YTD: +3.63%)<\/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\/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=\"569439\" 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\/24\/569439\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569439\" class=\"content-area-description single-story post-569439 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>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>23-29 February (Sunday-Saturday): 20 Egyptian companies <a href=\"http:\/\/bit.ly\/2P0fnJc\">will participate<\/a> in the \u201cEgyptian Trade Week\u201d in Kampala, Uganda.<\/p>\n<p>28-29 February (Friday-Saturday): <a href=\"http:\/\/bit.ly\/32gL3iK\">Egypt Career Summit<\/a>, The Greek Campus, Cairo, Egypt.<\/p>\n<p>March: An international conference <a href=\"http:\/\/bit.ly\/39FeKfU\">to market investment prospects<\/a> in the Suez Canal Economic Zone.<\/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 (Friday-Sunday): <a href=\"http:\/\/www.uabonline.org\/en\/events\/conferences\/chiefriskofficerscrosinarabbanks\/72792\/0\">Arab Banking Forum<\/a>, 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): <a href=\"https:\/\/www.ecrg.de\/en\/events\/196-international-investment-conference-suez-canal-economic-zone\">International Investment Conference for the Suez Canal Economic Zone<\/a>, 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>24 March (Tuesday): <a href=\"https:\/\/hapijournal.com\/2020\/02\/23\/%e2%80%aa%d8%a7%d9%86%d8%b7%d9%84%d8%a7%d9%82-%d8%a7%d9%84%d9%82%d9%85%d8%a9-%d8%a7%d9%84%d8%b3%d9%86%d9%88%d9%8a%d8%a9-%d9%84%d9%84%d8%b5%d8%a7%d8%af%d8%b1%d8%a7%d8%aa-24-%d9%85%d8%a7%d8%b1%d8%b3\/\">The Annual Export Summit<\/a>, Cairo, Egypt <\/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>9 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 May (Saturday): An administrative court will look into an appeal by steel rolling mills to overturn a government\u2019s decision to place import tariffs on steel rebar and iron billets. The hearing <a href=\"http:\/\/bit.ly\/32gKHbU\">was postponed<\/a> from 22 February 2020.<\/p>\n<p>23-26 May (Saturday-Tuesday): Eid El Fitr (TBC).<\/p>\n<p>4-6 June (Thursday-Saturday): <a href=\"https:\/\/sommetafriquefrance202a0.org\/en\/\">2020 Africa-France Summit<\/a>, Bordeaux, France.<\/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>24 September- 2 October (Thursday-Friday): <a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a>, El Gouna, Egypt.<\/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\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":569406,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-569405","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1d3896dd-d771-4d9d-aa97-e802e96b4e58","teaser":"","photo_url":"https:\/\/ent.news\/2020\/2\/294.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>Will a strengthening EGP put pressure on corporate earnings? 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