{"id":569691,"date":"2020-03-04T05:57:55","date_gmt":"2020-03-04T05:57:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=569691"},"modified":"2025-12-16T07:03:59","modified_gmt":"2025-12-16T07:03:59","slug":"the-feds-emergency-rate-cut-landed-with-a-thud-but-its-good-news-for-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-feds-emergency-rate-cut-landed-with-a-thud-but-its-good-news-for-egypt\/","title":{"rendered":"The Fed\u2019s emergency rate cut landed with a thud, but it\u2019s good news for Egypt"},"content":{"rendered":"<section id=\"569693\" 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=\"569693\">\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\/03\/04\/what-were-tracking-on-4-march-2020-2\/\">\r\n                            What we\u2019re tracking on 4 March 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\/03\/04\/what-were-tracking-on-4-march-2020-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The same could not be said for the markets across the Atlantic though (more on this below).<\/p><p>But first, your daily dose of news on El Corona:<\/p><p><strong>CORONAWATCH- Health Minister Hala Zayed <\/strong><strong><a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/364579\/Egypt\/Politics-\/,-suspected-COVID-cases-tested-negative-in-Egypt-H.aspx\">announced<\/a><\/strong><strong> that 1,832 individuals tested for <\/strong><strong>covid-19 had all come back negative.<\/strong> The announcement came during a press conference at the Egyptian embassy in China, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1477109\">Al Masry Al Youm reports<\/a>. The majority of those tested were at Khalda Petroleum, where an oil engineer had tested positive for the virus. She added that no further cases in Egypt have yet come to her ministry\u2019s attention.<\/p><p><strong>We\u2019ve received 1k covid-19 detection kits as a gift from China<\/strong>, <a href=\"https:\/\/www.egypttoday.com\/Article\/1\/82218\/Egypt-receives-1000-coronavirus-detectors-from-China-Zayed\">Zayed said<\/a>. Zayed on Sunday flew to China with medical supplies as a gesture of goodwill.<\/p><p><strong>Keep an eye on the <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/videos\/612341532663314\/\">Health Ministry\u2019s Facebook Page<\/a><\/strong>, where Zayed has suggested she and officials on her team will provide video updates on the coronavirus situation in Egypt.<\/p><p><strong>The cabinet economic committee met yesterday to discuss the impact of the<\/strong> <strong>virus on the economy.<\/strong> <a href=\"http:\/\/bit.ly\/2VJw2EW\">The statement from the cabinet<\/a> does not go into detail, but notes the government discussed preparedness measures and received reports on how covid-19 is impacting markets and economies the world over.<\/p><p><strong>The government is kicking off awareness workshops tomorrow for educators<\/strong> to teach them about how to prevent the spread of infection and what to do with a suspected case. The workshops will be organized by the education and health ministries and Al Azhar, <a href=\"https:\/\/bit.ly\/2Ic7RHg\">according to a cabinet statement.<\/a><\/p><p><strong>Covid-19 fears have been shrinking exports from Egypt\u2019s freezones<\/strong> and investors are calling on the government to offer incentives for them to enter alternative markets, <a href=\"https:\/\/alborsaanews.com\/2020\/03\/03\/1303412\">the local press reports<\/a>, citing remarks by an industry group saying export sales had dipped in the past two months thanks to the virus and that it expects further contraction in the \u201ccoming period.\u201d<\/p><p><strong>The Trade Ministry will be authenticating certificates of origin for Chinese goods held in <\/strong><strong>Egyptinan ports<\/strong> since the outbreak of covid-19, in place of the Egyprian embassy in China, <a href=\"https:\/\/alborsaanews.com\/2020\/03\/03\/1303434\">the local press reports<\/a>.<\/p><p><strong>Kuwait <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/237cd5d2-3190-4eaa-add4-2e3f08a432db\">has not stopped issuing visas to Egyptians<\/a><\/strong><strong>, but it is denying entry<\/strong><strong> to Egyptian nationals who do not have a certificate verified by the Kuwaiti embassy in Cairo <\/strong>certifying that they have tested negative for covid-19 on polymerase chain reaction (PCR) test, Kuwait\u2019s aviation authority <a href=\"https:\/\/twitter.com\/Kuwait_DGCA\/status\/1234902940219039747\/photo\/1\">said on social media yesterday<\/a>. People travelling from nine other countries \u2014 including India, Turkey and Lebanon \u2014 will also be required to produce the certificate, it said.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/Rambo-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Yields crash, stocks fall as Fed\u2019s emergency rate cut lands with a thud:<\/strong> Yields on US 10-year treasuries crashed through the 1% barrier for the first time ever and the sell-off in the US equity markets resumed yesterday, despite the Federal Reserve announcing an emergency 50 bps interest rate cut \u2014 ironically an effort to stem the bleeding in the markets. The yield on the benchmark 10-year bonds fell as low as 0.9043% before recovering to near 1% at the close of play, and the rate on inflation-linked 30-year notes entered negative territory for the first time ever, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-03\/no-bottom-in-sight-for-bond-yields-while-virus-overshadows-fed?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg says<\/a>. Stocks also gave up most of the gains made yesterday, with all three major indices closing almost 3% in the red.<\/p><p><strong>This all occurred in the hours after the Fed deployed its bazooka:<\/strong> The Fed made its most dramatic intervention since the 2008 financial crisis yesterday, announcing an emergency 50 bps rate cut in response to <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20200303a.htm\">what it called the \u201cevolving risks\u201d of covid-19<\/a>. In an effort to assuage investors, the central bank reiterated that the US economic fundamentals \u201cremain strong\u201d and pledged to \u201cuse its tools and act as appropriate to support the economy.\u201d<\/p><p><strong>To put this in context,<\/strong> this is only the third time in the past 25 years the Fed has made an emergency cut and is the largest since October 2008.<\/p><p><strong>Nothing says \u2018strong economy\u2019 like an emergency rate cut:<\/strong> Investors ignored the Fed\u2019s \u2018the economy is fine, move along\u2019 messaging and interpreted it more along the lines of \u2018the house is on fire.\u2019 \u201cThe market reaction now is negative because the Fed sent the wrong message to the market,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-usa-stocks\/feds-emergency-rate-cut-spooks-wall-street-idUSKBN20Q1NR\">said Peter Cardillo<\/a>, chief market economist at Spartan Capital Securities in New York. \u201cAll of a sudden the Fed is really worried about the economy and this is the reason why we are having this volatility.\u201d<\/p><p><strong>No signs that investors are buying the corona dip:<\/strong> \u201cThe worsening economic \/ corporate outlook and direct evidence of the risk of ineffective central bank policies\u201d is challenging investors\u2019 buy-the-dip mentality, Allianz economic advisor Mohamed El Erian <a href=\"https:\/\/twitter.com\/elerianm\/status\/1234922854078017536\">wrote on social media<\/a>.<\/p><p><strong>What ever happened to a coordinated response?<\/strong> <a href=\"https:\/\/www.bankofcanada.ca\/2020\/03\/statement-g7-finance-ministers-and-central-bank-governors\/\">A statement released<\/a> following yesterday\u2019s discussion among G7 finance ministers and central bank governors contained little evidence of a coordinated policy response to the crisis by global financial chiefs. Markets had hoped that the talks would produce an agreement for a set of monetary and fiscal stimulus measures aimed at arresting the turbulence in the markets. Instead, the statement contained references to \u201cactions\u201d and \u201cappropriate policy tools\u201d without providing specific policy proposals.<\/p><p><strong>** THE KEY TAKEAWAY FOR US HERE IN EGYPT from yesterday\u2019s move by the Fed: <\/strong>The Fed just took (some of the) pressure off Egypt to hike interest rates. Central banks in developed economies are under pressure to cut rates to stimulate their economies in the face of slowdowns. In Egypt, we face the opposite pressure: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f08c248c-dd23-40be-ad28-0be099e8e924\">To maintain or even hike interest rates to maintain our attractiveness to the carry trade<\/a> as investors look to safe haven assets instead of emerging markets. From that perspective, <strong>the Fed\u2019s cut has, in many ways, the same effect as an interest rate hike in Egypt<\/strong> by widening the differential between rates here and those in the US.<\/p><p><strong>That\u2019s good news for the Central Bank of Egypt<\/strong> on the carry trade and at least \u2026 neutral news for banks in Egypt, which came into 2020 expecting that rate cuts would stimulate renewed appetite from companies to borrow in support of capex spending. Any further cuts in developed economies (particularly by the Fed \u2014 see below) would similarly be good for Egyptian policymakers.<\/p><p><strong>Oh, and you may want to brace yourselves for a busy day on the EGX: <\/strong>The Fed\u2019s snap interest rate cut came after the EGX closed, so we may yet feel the impact of the selloff that US markets went through yesterday. <strong>That said: Futures point to European markets opening in the green.<\/strong><\/p><p><strong>Troubling for US policymakers: The Fed just wasted valuable ammunition only to see its credibility take a serious hit. <\/strong>Not only have some interpreted the move as a kowtow to a White House hungry for easing and left others wondering whether Fed officials know something everyone else doesn\u2019t, it reveals the impotence of monetary policymakers when it comes to defending against the impact of a health scare. Added to this, the Fed just used one of the few bullets it has left to guard against an actual recession. With the Fed Funds Rate now at just 1-1.25%, it has even less room for manoeuvre in the event that the crisis tips the economy into recession.<\/p><p><strong>And what is going to be the likely response to this? More cuts.<\/strong> Goldman Sachs is forecasting the Fed to make another two 25 bps cuts during its meetings in March and April, bringing its benchmark rate down to just 0.5-0.75%, according to a research note <a href=\"https:\/\/www.zerohedge.com\/markets\/fed-capitulates-stock-vigilantes-goldman-sees-two-more-rate-cuts-next-month\">picked up Zerohedge<\/a>.<\/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\/2020\/2\/Mesca-1600px.png?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>The Finance MInistry is working toward publicizing its final EGX tax plan next week, <\/strong>including whether it will reintroduce the 10% capital gains tax on EGX transactions, <a href=\"https:\/\/alborsaanews.com\/2020\/03\/03\/1303427\">the local press reports<\/a>, citing unnamed government sources. The capital gains tax was shelved for three years in 2017 in favor of a provisional stamp tax. The three-year period is officially set to elapse in May 2020.<\/p><p><strong>The Egyptian Capital Markets Association <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e102ec0e-1b45-489b-9e73-191b196a499c\">has been lobbying<\/a><\/strong><strong> for Egyptian and resident foreign investors to be exempted from capital gains tax through May 2023<\/strong>, suggesting that the Finance Ministry postpone the introduction of the tax for another three years as part of a package of measures designed to attract investment and boost trading.<\/p><p><strong>Gov\u2019t to relax visa rules in bid to encourage tourism:<\/strong> The cabinet\u2019s tourism committee has agreed to relax visa rules from June in an effort to attract more tourists to the country, <a href=\"http:\/\/bit.ly\/3couXsh\">it said in a statement this week<\/a>. These will include expanding the countries eligible for entry visas, an extension of the duration of the 90-day renewable visas to five years, and a USD 10 discount on visas for those arriving to the country through ports in Luxor and Aswan as part of the \u201cSummer in Upper Egypt\u201d initiative.<\/p><p><strong>Our friends at AmCham will host Planning and Economic Development Minister Hala El <\/strong><strong>Said for its monthly luncheon<\/strong> on Thursday, 12 March. El Said will discuss the future of Egypt\u2019s economic development agenda. Members can <a href=\"https:\/\/www.amcham.org.eg\/login\/login.asp?ReturnUrl=%2Fcyberlink%2Fevents%2Fregister%2F1260\">register for the event here<\/a>.<\/p><p>Other events coming up this month:<\/p><ul>\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> wraps up tomorrow.<\/li>\n<li><strong>The Union of Arab Banks will hold a <\/strong><strong><a href=\"http:\/\/www.uabonline.org\/en\/events\/conferences\/chiefriskofficerscrosinarabbanks\/72792\/0\">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, 21 March.<\/li>\n<\/ul><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/FLASH-SALE-STILL_ENTERPRISE-38-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>PSA- Our friends at TAM Gallery and Furniture design firm Eklego are holding a flash sale this Friday<\/strong><strong> and Saturday at TAM<\/strong>, where over 2k works of art and 500 pieces of furniture will be on offer. The gallery will open its doors from 12pm until 10pm on Friday, and from 11am until 9pm on Saturday. You can check out the <a href=\"http:\/\/tiny.cc\/srkskz\">full catalogue here<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The Biden surge is real:<\/strong> Former Vice President Joe Biden is likely to snatch Bernie Sanders\u2019 status as the frontrunner for the Democratic nomination after sweeping Southern states during Super Tuesday yesterday. At the time of dispatch, Biden was on course to win Alabama, Arkansas, North Carolina, Oklahoma, Tennessee and Virginia, while Sanders had secured first place in his home state of Vermont, Colorado and Utah. The delegate-rich state of Texas and Maine were leaning towards Bernie, while Biden could take Minnesota and Elizabeth Warren\u2019s home state of Massachusetts, but these results remain too close to call.<\/p><p><strong>Polls were still open in California,<\/strong> which will award more than 400 delegates. Importantly, it is likely to be at least a few days before we get the final tally due to the state allowing mail-in ballots on polling day. The <a href=\"https:\/\/www.nytimes.com\/live\/2020\/super-tuesday-03-03\">New York Times<\/a> and <a href=\"https:\/\/www.washingtonpost.com\/politics\/2020\/03\/03\/super-tuesday-live-updates\/\">Washington Post<\/a> have live coverage of the results as they come in.<\/p><p><strong>Israeli PM Benjamin Netanyahu looks to have finally secured a third term in office:<\/strong> Netanyahu has declared victory against rival Benny Gantz after projections showed his right-wing Likud party winning 59 seats in parliament with 90% of the votes counted. This was the third election in Israel in less than a year after two previous polls handed neither candidate a decisive victory. <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-51709699\">The BBC has more<\/a>.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue:<\/strong> We continue our look into covid-19 by exploring how the panic is impacting Egypt\u2019s infrastructure sector. Thankfully, we see no signs that it will derail anything anytime soon.<\/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\/bonds\/\">Bonds<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-minister\/\">Health Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/information-and-decision-support-center\/\">Information and Decision Support Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n            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href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/gerd-dispute-covid-19-top-stories-on-talk-shows\/\">\r\n                            GERD dispute, Covid-19 top stories on talk shows                        <\/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\/03\/04\/gerd-dispute-covid-19-top-stories-on-talk-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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href=\"https:\/\/api.whatsapp.com\/send?text=GERD+dispute%2C+Covid-19+top+stories+on+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F04%2Fgerd-dispute-covid-19-top-stories-on-talk-shows%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\/03\/04\/gerd-dispute-covid-19-top-stories-on-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569695\" class=\"content-area-description single-story post-569695 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-donald-trump tag-economic-ministerial-committee tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-gerd tag-house-of-representatives tag-international-cooperation-minister-rania-al-mashat tag-president-abdel-fattahh-el-sisi tag-prime-minister-mustafa-madbouly wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Headlining the talk shows last night \u2014 you guessed it \u2014 GERD and covid-19. <\/strong>Al Hayah Al Youm's Lobna Assal spoke by phone with presidential spokesman Bassem Rady about the current Egypt-Ethiopia dispute over the Grand Ethiopian Renaissance Dam. Asked whether Ethiopia\u2019s announcement that it will commence with filling the dam\u2019s reservoir in July negated negotiations mediator US Treasury Chairman Steven Mnuchin\u2019s previous claim that the dam\u2019s reservoir would not be filled until all sides had reached a final agreement, Rady said that the legally-binding 2015 Declaration of Principles stipulated what Mnuchin had stated, and that he couldn\u2019t speak on the Ethiopian leadership\u2019s statements <a href=\"https:\/\/www.youtube.com\/watch?v=-dqjMXcoM-4\">(watch, runtime: 4:41)<\/a>.<\/p>\n<p><strong>All the latest on covid-19 in Egypt: <\/strong>Min Masr\u2019s Reham Ibrahim and Amr Khalil dedicated the program to reviewing the covid-19 developments over the past week, including the various updates the prime minister had received, the precautionary measures taken across the country\u2019s ports, the Health Minister\u2019s assurances that potential in-country cases had all tested negative, as well as the website, <a href=\"http:\/\/www.care.gov.eg\/?fbclid=IwAR0WFScvV2C7ULqZZO07G8U-ptAUxwqTBxtNDwmLSZUb0qeZbmhmhgHKW9o\">Care.gov.eg<\/a>, that the government launched to provide information on the virus <a href=\"https:\/\/www.youtube.com\/watch?v=lTIkSTppGKM\">(watch, runtime: 27:51)<\/a>.<\/p>\n<p><strong>Madbouly reviews economic outlook in light of covid-19 outbreak:<\/strong> Masaa DMC\u2019s Ramy Radwan wrapped up the covid-19 segment of the program by reviewing the meeting of the cabinet\u2019s economic committee, headed by Prime Minister Moustafa Madbouly. They discussed expected global growth rates in light of the virus\u2019 outbreak, likely impacts on Egypt and the region, and potential precautionary measures <a href=\"https:\/\/www.youtube.com\/watch?v=XkcS_I9yhD8\">(watch, runtime: 2:06)<\/a>.<\/p>\n<p><strong>Kuwaiti-Arab development delegation visits Port Said: <\/strong>Assal also covered a visit by a delegation from the Kuwait-based Arab Fund for Economic and Social Development to various Sinai development projects in east Port Said, with International Cooperation Minister Rania Al Mashat as their host. The tour was centered around a trip to the area\u2019s seawater desalination plant <a href=\"https:\/\/www.youtube.com\/watch?v=rLR22z7_FD0\">(watch, runtime: 3:16)<\/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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economic-ministerial-committee\/\">economic ministerial committee<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-cooperation-minister-rania-al-mashat\/\">International Cooperation Minister Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/president-abdel-fattahh-el-sisi\/\">President Abdel Fattahh El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-minister-mustafa-madbouly\/\">Prime Minister Mustafa Madbouly<\/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=\"569696\" 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=\"569696\">\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\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/\">\r\n                            Non-oil private sector continues to shrink on falling output, export orders                        <\/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\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/\" 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\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/')\">\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\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/\">\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=Non-oil private sector continues to shrink on falling output, export orders&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/\">\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\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/&title=Non-oil private sector continues to shrink on falling output, export orders\">\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=Non-oil+private+sector+continues+to+shrink+on+falling+output%2C+export+orders+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F04%2Fnon-oil-private-sector-continues-to-shrink-on-falling-output-export-orders%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\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/53.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"569697\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/53-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/53.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"53.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/53.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/53.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569696\" class=\"content-area-description single-story post-569696 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-activity tag-covid-19 tag-economy tag-enterpriseam tag-ihs tag-inflation tag-markit tag-non-oil tag-pmi tag-purchasing-manager 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-02\"><\/a> <strong>Non-oil private sector continues to shrink on falling output, export orders<\/strong><strong>:<\/strong> Business activity in Egypt's non-oil private sector remained in contraction in February as export orders continued to fall and output dropped, <a href=\"https:\/\/ent.news\/2020\/3\/PMI-Feb.pdf\">according to the IHS Markit purchasing managers\u2019 index (PMI) (pdf).<\/a> The rate of contraction improved marginally from January, inching up to 47.1 from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a97eb0c2-ba1d-48f6-8104-a8ce67ffd49e\">January\u2019s three-year low of 46.0<\/a>, but the data continues to show \u201cbroad-based weakness across output, new orders and employment,\u201d said Phil Smith, principal economist at IHS Markit. Activity in the non-oil private sector has now shrunk for seven months in a row.<\/p>\n<p><strong>Macro conditions are weighing heavily on the private sector, which is already grappling with a \u201cvicious cycle\u201d of domestic market challenges<\/strong>, says Smith wrote. Domestically, firms are pointing to low domestic market demand underpinned by weak labor market conditions, while external demand is also weak.<\/p>\n<p><strong>Declines across output and new orders, pushing firms to cut prices:<\/strong> Companies have been addressing the \u201csoft\u201d demand and cost pressures by reducing average output prices, which Smith says is \u201cencouraging\u201d as firms look to break the cycle of market conditions leading to low sales and staff cuts.<\/p>\n<p><strong>Demand for raw materials dipped<\/strong>, reflecting in a stabilization of supplier delivery times. Prices for purchases, on the other hand, rose marginally in February for the fourth month in a row.<\/p>\n<p><strong>Recruiting fell at the fastest rate since September 2017<\/strong> and the drop in buying levels was the most marked in almost three years. Overall operating expenses inched up at a modest rate that may be the slowest since April 2011.<\/p>\n<p><strong>Businesses are relatively upbeat but their enthusiasm about the next 12 months has been curbed somewhat<\/strong>, with the degree of optimism hitting its lowest level since last September. Respondents signaled they are concerned about how the covid-19 outbreak will impact the Chinese economy and that sentiment will take a hit. <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2AV5IF\">Reuters also has the story<\/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\/activity\/\">Activity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ihs\/\">IHS<\/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\/markit\/\">Markit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-oil\/\">Non oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/purchasing-manager\/\">Purchasing Manager<\/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=\"569711\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569712\" 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=\"569712\">\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\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/\">\r\n                            The real problem with Africa\u2019s pile of eurobond debt is the repayment terms, not just the amount of debt                        <\/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\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/\" 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\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/')\">\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\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/\">\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 real problem with Africa\u2019s pile of eurobond debt is the repayment terms, not just the amount of debt&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/\">\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\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/&title=The real problem with Africa\u2019s pile of eurobond debt is the repayment terms, not just the amount of debt\">\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+real+problem+with+Africa%E2%80%99s+pile+of+eurobond+debt+is+the+repayment+terms%2C+not+just+the+amount+of+debt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F04%2Fthe-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt%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\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/58.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"569713\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/58-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/58.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"58.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/58.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/58.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569712\" class=\"content-area-description single-story post-569712 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-africa tag-african-development-bank tag-debt tag-enterpriseam tag-eurobonds tag-the-macro-picture wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The real problem with Africa\u2019s pile of eurobond debt is the repayment terms, not<\/strong><strong> just the amount of debt<\/strong>, African Development Bank President Akinwumi Adesini <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-02\/africa-needs-to-stop-being-a-eurobond-price-taker-afdb-says\">tells Bloomberg<\/a>. Africa currently isn\u2019t facing a debt crisis, but governments seem to be avoiding negotiating more favorable terms for eurobond issuance and commercial loans. \u201cThe short-term maturity of some of these debts do not match the long-term revenue streams,\u201d he tells the business information service. \u201cYou are going to have to pay back when you are not earning money.\u201d<\/p>\n<p><strong>There have been a lot of eurobonds coming out of Africa, and investors are biting because of high yields:<\/strong> In the past two years alone, African countries have issued USD 53 bn-worth of sovereign eurobonds, according to Bloomberg data. And over the past decade, a borrowing frenzy has pushed up African countries\u2019 FX-denominated debt pile to USD 115 bn, the Financial Times <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5d71b63-62e8-49f3-9111-d37f7b4d115b\">said last month<\/a>. USD-denominated African sovereign debt instruments have yielded 21% in 2019, which Bloomberg says outpaces all other emerging market regions. A lot of <strong>eurobond issuances from African countries are oversubscribed \u201cbecause people see [a chance] to make a killing,\u201d<\/strong> Adesini says.<\/p>\n<p><strong>Some countries \u2014 including Egypt \u2014 have been moving to extend the maturity of their eurobonds<\/strong> in a bid to make their repayment feasible. Egypt\u2019s last USD 2 bn triple-tranche eurobond issuance <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/egypt-successfully-closes-usd-2-bn-triple-tranche-eurobond-issuance-6358\/\">in November<\/a> included a USD 500 mn tranche of 40-year bonds carrying a yield of 8.15%. The Finance Ministry said at the time that these are the longest-maturity bonds in the Middle East and North Africa. Ghana also reached the same milestone for sub-Saharan Africa when it issued USD 3 bn-worth of eurobonds last month that included a 40-year tranche, according to Bloomberg.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/african-development-bank\/\">African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eurobonds\/\">eurobonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/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=\"569714\" 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=\"569714\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/egypt-in-the-news-on-4-march-2020\/\">\r\n                            Egypt in the News on 4 March 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\/03\/04\/egypt-in-the-news-on-4-march-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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               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\/03\/04\/egypt-in-the-news-on-4-march-2020\/&title=Egypt in the News on 4 March 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+4+March+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F04%2Fegypt-in-the-news-on-4-march-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\/03\/04\/egypt-in-the-news-on-4-march-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569714\" class=\"content-area-description single-story post-569714 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-diplomacy tag-egypt-in-the-news tag-enterpriseam tag-ethiopia tag-eu tag-gerd tag-human-rights tag-italy tag-politics tag-south-sinai tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The latest developments in the GERD negotiations are leading the conversation in the<\/strong> <strong>foreign press this morning:<\/strong> <a href=\"https:\/\/www.france24.com\/en\/20200303-ethiopia-chides-us-for-undiplomatic-role-in-nile-dam-talks\">AFP<\/a> | <a href=\"https:\/\/www.arabnews.com\/node\/1636281\/middle-east\">Reuters<\/a> | <a href=\"https:\/\/www.bbc.co.uk\/news\/world-africa-51728405\">BBC<\/a> |<a href=\"https:\/\/www.thenational.ae\/world\/africa\/egypt-s-el-sisi-holds-military-meeting-amid-tensions-with-ethiopia-1.987671\">The National<\/a> | <a href=\"https:\/\/www.rte.ie\/news\/world\/2020\/0303\/1120057-nile-dam\/\">RTE<\/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\/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\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/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\/south-sinai\/\">South Sinai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"569715\" 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=\"569715\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/kuwaiti-development-fund-officials-are-in-town-and-touring-development-projects-in-sinai-with-rania-al-mashat\/\">\r\n                            Kuwaiti Development Fund officials are in town and touring development projects in Sinai with Rania Al Mashat                        <\/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\" 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       <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/kuwaiti-development-fund-officials-are-in-town-and-touring-development-projects-in-sinai-with-rania-al-mashat\/\">\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=Kuwaiti Development Fund officials are in town and touring development projects in Sinai with Rania Al Mashat&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/kuwaiti-development-fund-officials-are-in-town-and-touring-development-projects-in-sinai-with-rania-al-mashat\/\">\n                    X                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Kuwaiti+Development+Fund+officials+are+in+town+and+touring+development+projects+in+Sinai+with+Rania+Al+Mashat+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F04%2Fkuwaiti-development-fund-officials-are-in-town-and-touring-development-projects-in-sinai-with-rania-al-mashat%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\/03\/04\/kuwaiti-development-fund-officials-are-in-town-and-touring-development-projects-in-sinai-with-rania-al-mashat\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569715\" class=\"content-area-description single-story post-569715 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-development tag-diplomacy-foreign-trade tag-enterpriseam tag-infrastructure tag-transport tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Kuwaiti Development Fund officials are in town and touring development projects in <\/strong><strong>Sinai: <\/strong>International Cooperation Minister Rania Al Mashat and a delegation from the Kuwaiti Development Fund have visited the USD 182 mn desalination plant in East Port Said and the <a href=\"https:\/\/en.amwalalghad.com\/egypt-kuwait-sign-agreement-to-fund-bahr-el-baqar-sinai-worth-127-mln\/\">USD 127 mn water treatment facility<\/a> in Bahr El Baqer, <a href=\"https:\/\/ent.news\/2020\/3\/Minstry-Press-Release-on-Sinai-Development-Strategy.pdf\">according to a ministry press release<\/a>. The fund, which signed<a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/22\/egypt-signs-usd-1-9-bn-worth-of-financing-agreements-with-kuwait\/\">USD 1.9 bn in financing agreements<\/a> with Egypt last year, will continue their site visits in Sinai through 9 March.<\/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\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"569719\" 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=\"569719\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/the-market-yesterday-43\/\">\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\/03\/04\/the-market-yesterday-43\/\" 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\/03\/04\/the-market-yesterday-43\/')\">\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\/03\/04\/the-market-yesterday-43\/\">\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\/03\/04\/the-market-yesterday-43\/\">\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\/03\/04\/the-market-yesterday-43\/&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%2F03%2F04%2Fthe-market-yesterday-43%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\/03\/04\/the-market-yesterday-43\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569719\" class=\"content-area-description single-story post-569719 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 15.58 | Sell 15.71<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.59 | Sell 15.69<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.60 | Sell 15.70<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 12,420 (+1.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 659 mn (12% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -11.0%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session up 1.1%. CIB, the index\u2019s heaviest constituent, ended up 0.2%. EGX30\u2019s top performing constituents were Credit Agricole up 7.1%, Palm Hills up 5.3%, and Orascom Development Egypt up 5.0%. Yesterday\u2019s worst performing stocks were Dice down 1.1%, Juhayna down 0.5% and Ibnsina Pharma down 0.5%. The market turnover was EGP 659 mn, and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -58.3 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -29.7 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +88.0 mn<\/p>\n<p><strong>Retail<\/strong>: 47.7% of total trades | 43.9% of buyers | 51.6% of sellers<br \/>\n <strong>Institutions<\/strong>: 52.3% of total trades | 56.1% of buyers | 48.4% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 46.97 (-0.45%)<br \/>\n <strong>Brent:<\/strong> USD 51.86 (-0.08%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.80 MMBtu, (-0.28%, April 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,647.40\/ troy ounce (+0.18%)<\/p>\n<p><strong>TASI:<\/strong> 7,556 (+2.82%) (YTD: -9.93%)<br \/>\n <strong>ADX:<\/strong> 4,806 (+0.90%) (YTD: -5.31%)<br \/>\n <strong>DFM:<\/strong> 2,536 (-0.02%) (YTD: -8.27%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,515 (+2.28%)<br \/>\n <strong>QE:<\/strong> 9,258 (+0.47%) (YTD: -11.19%)<br \/>\n <strong>MSM:<\/strong> 4,096 (+0.37%) (YTD: +2.89%)<br \/>\n <strong>BB: <\/strong>1,637 (-0.18%) (YTD: +1.73%)<\/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=\"569720\" 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\/03\/04\/569720\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-569720\" class=\"content-area-description single-story post-569720 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>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>March: The French Chamber of Commerce and Industry is sending <a href=\"https:\/\/alborsaanews.com\/2020\/02\/25\/1300124\">10 French companies<\/a> to Egypt to promote French tourists to visit<\/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>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>21-22 March (Saturday-Sunday): An international conference <a href=\"https:\/\/alborsaanews.com\/2020\/02\/26\/1301075\">to market investment prospects<\/a> in the Suez Canal Economic Zone, Al Galala City, Egypt<\/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>12 April (Sunday): <a href=\"https:\/\/ent.news\/2020\/2\/240116_1.pdf\">Court session for Amer Group<\/a>, Porto Group compensation claim against Antaradous<\/p>\n<p>19 April (Sunday): <a href=\"https:\/\/ent.news\/2020\/2\/%D8%A7%D8%B1%D8%A7%D8%A8%D9%8A%D8%A7-24-2-2020.pdf\">Court session for Arabia Investments Holdings\u2019<\/a> <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>.<\/p>\n<p>19 April (Sunday): Coptic Easter Sunday, national holiday.<\/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\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":569692,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-569691","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"bdbddf53-4b72-4acf-b88f-ef791c3cb635","teaser":"","photo_url":"https:\/\/ent.news\/2020\/3\/50.png"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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