{"id":570340,"date":"2020-03-29T04:13:09","date_gmt":"2020-03-29T04:13:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=570340"},"modified":"2025-12-16T07:24:55","modified_gmt":"2025-12-16T07:24:55","slug":"maait-is-running-best-case-worst-case-scenarios-as-egypt-reports-576-total-cases","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-is-running-best-case-worst-case-scenarios-as-egypt-reports-576-total-cases\/","title":{"rendered":"Maait is running best-case, worst-case scenarios as Egypt reports 576 total cases"},"content":{"rendered":"<section id=\"570342\" 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=\"570342\">\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\/29\/what-were-tracking-on-29-march-2020\/\">\r\n                            What we\u2019re tracking on 29 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\/29\/what-were-tracking-on-29-march-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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Insider buying and buybacks suggest there are at least a few people out there (including here in Egypt) who thing the sell-off is done, but this warning in the <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/inside-the-market\/article-after-three-days-of-gains-is-the-selloff-over\/\">Globe &amp; Mail<\/a> rings true to us: \u201cThe magnitude of the decline merely matches the average bear-market since 1980, and pales next to the 52 per cent decline during the 2008-09 financial crisis.\u201d In the global financial crisis, too, markets stabilized for a brief period before plunging again. <strong>Volatility will remain the order of the day<\/strong>, particularly as we\u2019ve yet to see how the current circumstances have hit corporate earnings globally.<\/p><p>We have more on markets below in this section.<\/p><p><strong>Now is a great time to <\/strong><em>what<\/em><strong>? <\/strong>We don\u2019t know the playwright and writer <a href=\"https:\/\/twitter.com\/oureric\/status\/1243546103099817984?s=20\">R. Eric Thomas<\/a>, but his voice is in our head every time someone on Youtube \/ Instagram suggests that now is the best time ever to learn a new instrument \/ learn a foreign language \/ invest time in your hobby \/ write a screenplay:<\/p><p>\u201cIt\u2019s been two weeks, can we all agree to drop the pretense that \u201cwe all\u201d have \u201cso much free time\u201d now? <strong>Everyone I know is stretched to the limits of their emotional capacity and\/or is dealing with an increased workload<\/strong>, professionally and\/or domestically. What is this free time?\u201d<\/p><p><strong>Oh, and you think <\/strong><em>we <\/em><strong>(collectively) are experts in shiteema? <\/strong>You haven\u2019t met Italian mayors (<a href=\"https:\/\/www.youtube.com\/watch?referringSource=articleShare&amp;v=TJeRgjlLaZk&amp;amp=&amp;app=desktop\">watch, runtime 1:46<\/a>) \u2014 <a href=\"https:\/\/twitter.com\/nwadoug\/status\/1243037416732143616\">or this mayor in the US<\/a>, who seems like the reincarnation of Gen. George S. Patton.<\/p><hr class=\"grey-line\"><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><strong>Egypt has now reported a total of 576 cases of covid-19, <\/strong>120 more than since we last wrote you on Thursday, while 15 people have died of the disease in the same period. The Health Ministry <a href=\"https:\/\/ent.news\/2020\/3\/Health-Ministry-statement-29-3-2020.pdf\">announced<\/a> 40 new cases last night and said the six deaths were all of people aged 57-78. Some 121 people have made full recoveries and another 161 people who have sought treatment have since tested negative, suggesting they\u2019re on the path to recovery.<\/p><p><strong>*** PSA- The Health Ministry is holding a webinar for medical doctors at 11am CLT today <\/strong>to share information and best practices on covid-19. The 1.5-hour webinar will the disease, the Egyptian covid-19 management protocol, case discussions and a Q&amp;A. <a href=\"https:\/\/bit.ly\/2QSukhn\">Find out more here<\/a>.<\/p><p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>The World Health Organization is giving Egypt some love:<\/strong> The World Health Organization (WHO) <a href=\"http:\/\/www.emro.who.int\/media\/news\/who-delegation-concludes-covid-19-technical-mission-to-egypt.html\">has said<\/a> that Egypt is making \u201csubstantial efforts\u201d to contain the covid-19 outbreak and that its disease surveillance system \u201chas proven effective\u201d in preventing clusters of cases from spreading. \u201cAfter several days of intensive meetings and field visits both inside and outside Cairo, we see that Egypt is making substantial efforts to control the covid-19 outbreak. Significant work is being done, especially in the areas of early detection, laboratory testing, isolation, contact tracing and referral of patients,\u201d said Dr. Yvan Hutin, director for communicable diseases at WHO\u2019s regional office.<\/p><p><strong>\u201cBut more needs to be done\u201d to control the outbreak<\/strong>, Hutin said. \u201cWe have agreed on several areas that can be scaled up, taking a whole-of-government and whole-of-society approach,\u201d he said without elaborating.<\/p><p>We\u2019re going to go a step further and suggest that from how the Health Ministry has managed things to the imposition of curfew and announcement of stimulus measures, <strong>the Madbouly government\u2019s collective response to covid-19 has so far been on point<\/strong>. Would that our fellow citizens were taking things as seriously. A case in point:<\/p><p><strong>All beaches are being closed nationwide <\/strong>following an <a href=\"https:\/\/bit.ly\/39p1yv9\">order from the Ministry of Local<\/a> <a href=\"https:\/\/bit.ly\/39p1yv9\">Development<\/a>. The announcement comes after photos made the rounds of people flocking to beaches over the weekend in Alexandria and Ain Sokhna.<\/p><p><strong>The nation\u2019s administrative and supreme administrative courts are now closed until 15<\/strong> <strong>April<\/strong> on the order of the Council of State (Maglis El Dawla), <a href=\"https:\/\/bit.ly\/2UHdH9B\">according to state news agency MENA<\/a>. Exceptions will be made for urgent matters and a handful of other circumstances, and courts will still be open to receive filings and to handle office duties.<\/p><p><strong>Factory workers will be permitted to travel during curfew hours<\/strong> provided their employer obtains a permit from the governorate in which they\u2019re based, the <a href=\"https:\/\/alborsaanews.com\/2020\/03\/29\/1313226\">local press reports<\/a>, citing the head the operations room at the Council of Ministers. Pick-up trucks <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=28032020&amp;id=09c7b9da-304e-456e-8515-6c3426da79bb\">will also be exempt<\/a> from the 7pm-6am curfew if they\u2019re removing goods from ports to warehouses.<\/p><hr class=\"grey-line\"><p><strong>Egyptian embassies around the world are working to bring back citizens who want to <\/strong><strong>return home<\/strong>, <a href=\"https:\/\/bit.ly\/3asjma1\">according to a Foreign Ministry statement<\/a>. Four flights today will bring folks back from the UK, and an EgyptAir flight is scheduled to <a href=\"https:\/\/bit.ly\/2UK5UaT\">fly from London Heathrow<\/a> on Tuesday. Arrangements are also being made for <a href=\"https:\/\/alborsaanews.com\/2020\/03\/28\/1313159\">an exceptional flight on Tuesday<\/a> to return citizens still stranded in France, while others are in place for nationals who are presently in Saudi Arabia, UAE, Oman, Lebanon, and Jordan <a href=\"https:\/\/bit.ly\/3aliAeZ\">to follow soon<\/a>.<\/p><p><strong>If you\u2019re coming back on one of those flights, you\u2019ll need to self-quarantine for 28 days<\/strong>, according to a <a href=\"https:\/\/www.youm7.com\/story\/2020\/3\/27\/%D8%B1%D9%81%D8%B9-%D9%85%D8%AF%D8%A9-%D8%B9%D8%B2%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D8%A6%D8%AF%D9%8A%D9%86-%D9%85%D9%86-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC-%D8%A5%D9%84%D9%89-28-%D9%8A%D9%88%D9%85%D9%8B%D8%A7-%D8%B6%D9%85%D9%86\/4691806\">new directive from the Health Ministry<\/a>. Anyone entering Egypt was previously required to self-isolate for 14 days.<\/p><p><strong>EgyptAir and the US embassy in Cairo have arranged flights to Washington, DC, from<\/strong> <strong>Cairo. <\/strong>The flights are scheduled for Wednesday, 1 April and Friday, 3 April, and are for US citizens with \u201csome allowances for legal permanent residents accompanying them.\u201d The flights can be booked on EgyptAir\u2019s website. See the embassy\u2019s announcement <a href=\"https:\/\/eg.usembassy.gov\/alert-u-s-embassy-cairo-direct-flights-to-u-s-april-1-3-2020\/\">here<\/a> for more information.<\/p><p><strong>Air Canada is operating a commercial flight from Cairo to Paris\u2019 Charles de Gaulle airport<\/strong> <strong>on 31 March. <\/strong>You can get more information <a href=\"https:\/\/www.flyaircairo.com\/en\/\">here<\/a> or by Calling Air Cairo on 02 2266 3155 \/ 02 2268 9892 \/ 02 2269 5550. The flight is for Canadian visitors to Egypt who normally reside in Canada and want to return home.<\/p><p><strong>All normal commercial flights into and out of Egypt remain suspended <\/strong>until at least mid-April. Cargo flights are not subject to the ban.<\/p><p><strong>Jordan has shut down the traffic of goods coming by land from Egypt<\/strong>, <a href=\"https:\/\/bit.ly\/2Ur03Ix\">Al Mal reports<\/a>. The ferry line had stopped carrying passengers on 11 March but continued to carry cargo. Goods bound for Jordan will be held by Egypt\u2019s authorities until further notice.<\/p><hr class=\"grey-line\"><p><strong>Cairo Metro\u2019s three lines are getting five extra trains during rush hour <\/strong>in a bid to ease overcrowding, <a href=\"https:\/\/bit.ly\/3dAHd9o\">according to Al Mal<\/a>. The metro is now on <a href=\"https:\/\/bit.ly\/3dwux3l\">an amended schedule<\/a> after the government imposed a nationwide 11-hour curfew last week.<\/p><p><strong>The Social Solidarity Ministry will be adding 80-100k families to its Takaful and Karama<\/strong> <strong>benefit programs<\/strong> at a cost of about EGP 800 mn, <a href=\"https:\/\/almalnews.com\/%d9%88%d8%b2%d9%8a%d8%b1%d8%a9-%d8%a7%d9%84%d8%aa%d8%b6%d8%a7%d9%85%d9%86-%d8%b3%d9%86%d8%b6%d9%8a%d9%81-100-%d8%a3%d9%84%d9%81-%d8%a3%d8%b3%d8%b1%d8%a9-%d8%a5%d9%84%d9%89-%d8%a8%d8%b1%d9%86%d8%a7\/\">Al Mal reports<\/a>. The ministry had <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2020\/3\/21\/1747732\/%D9%88%D8%B2%D9%8A%D8%B1%D8%A9-%D8%A7%D9%84%D8%AA%D8%B6%D8%A7%D9%85%D9%86-60-%D8%A3%D9%84%D9%81-%D8%A3%D8%B3%D8%B1%D8%A9-%D8%AA%D8%AF%D8%AE%D9%84-%D8%AA%D9%83%D8%A7%D9%81%D9%84-%D9%88%D9%83%D8%B1%D8%A7%D9%85%D8%A9-%D8%A7%D9%84%D8%B4%D9%87%D8%B1%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84%D9%8A%D9%86#sectionListing\">said earlier last week<\/a> that it would be adding some 60k families to its program.<\/p><hr class=\"grey-line\"><p><strong>TOLL ON BUSINESS- Mediterranean gas group Energean might cut its budget for Egypt by USD 140 mn<\/strong> as oil and gas companies cut back on spending amid the covid-19 pandemic and a simultaneous oil price war. Energean has already cut its planned outlay in Greece and Israel by USD 155 mn. <a href=\"https:\/\/www.reuters.com\/article\/us-global-oil-cuts-factbox\/factbox-global-oil-gas-producers-cut-spending-after-crude-price-crash-idUSKBN21E0MJ\">Reuters<\/a> has a company-by-company rundown here.<\/p><p><strong>Some businesses are advocating for the state\u2019s EGP 100 bn bailout package to cover <\/strong> <strong>wage subsidy <\/strong>to make it easier for them to pay workers\u2019 salaries in the event factories are shut down or running fewer shifts, <a href=\"https:\/\/alborsaanews.com\/2020\/03\/28\/1312918\">the local press reports<\/a>.<\/p><p><strong>A PROPOSAL WORTH DEBATING- <\/strong>Suspend remission of income tax and social insurance and give businesses a tax break by cutting wage taxes in half, suggests Maged El Menzelawi, chairman of the industry committee at the Egyptian Businessmen\u2019s Association.<\/p><p><strong>Egypt\u2019s pharmaceutical companies generally have raw materials on hand sufficient for<\/strong> <strong>four months of production,<\/strong> <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=28032020&amp;id=367e3155-9faa-484b-a49f-c9fd55a2cef8\">Al Mal reports<\/a>. Aly Ouf, head of the medicines Division in the Federation of Egyptian Chambers of Commerce. He noted that Egypt imports from China some 40% of the raw materials domestic producers need.<\/p><p><strong>The silver lining for Egypt: <\/strong>Chinese factories are now ramping up, but they\u2019re finding export markets in Europe and the US are in disarray, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-26\/the-second-virus-shockwave-is-hitting-china-s-factories-already\">reports Bloomberg<\/a>.<\/p><p><strong>The Consumer Protection Agency boss Rady Abdel Moaty is warning retailers against <\/strong><strong>price gouging<\/strong>, <a href=\"https:\/\/www.mubasher.info\/news\/3610487\/%D8%A8%D8%A7%D9%84%D8%AD%D8%A8%D8%B3-%D9%88%D8%BA%D8%B1%D8%A7%D9%85%D8%A9-%D9%85%D9%84%D9%8A%D9%88%D9%86%D9%8A-%D8%AC%D9%86%D9%8A%D9%87-%D8%AD%D9%85%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%87%D9%84%D9%83-%D8%A8%D9%85%D8%B5%D8%B1-%D9%8A%D8%AA%D9%88%D8%B9%D8%AF-%D8%A7%D9%84%D9%85%D8%AA%D9%84%D8%A7%D8%B9%D8%A8%D9%8A%D9%86-%D9%88%D8%A7%D9%84%D9%85%D8%AD%D8%AA%D9%83%D8%B1%D9%8A%D9%86\/\">according to state news agency MENA<\/a>.<\/p><p><strong>The Customs Authority is giving importers a break to expedite the clearance of <\/strong><strong>shipments from ports<\/strong>, allowing them to present contracts and transaction receipts in the place of standard documentation, <a href=\"https:\/\/bit.ly\/2QSDPwU\">Al Mal<\/a> reports.<\/p><hr class=\"grey-line\"><p><strong>Authorities are cracking down on producers of counterfeit protective gear<\/strong>, <a href=\"https:\/\/www.arabnews.com\/node\/1648981\/middle-east\">Arab News<\/a><a href=\"https:\/\/www.arabnews.com\/node\/1648981\/middle-east\">reports<\/a>.<\/p><p><strong>Leading private sector education outfit CIRA has moved all classrooms at its schools <\/strong><strong>and Badr University online <\/strong>with its distance learning protocol, with all of its non-essential staff working from home to curb the spread of covid-19, <a href=\"https:\/\/ent.news\/2020\/3\/CIRA-COVID-19-Communication-1-1.pdf-1.pdf\">according to a statement (pdf)<\/a>. Of the company\u2019s campuses that are still under construction, Regent British School in Mansoura is the only one expected to see delays after the company slowed down construction services.<\/p><p><strong>School children are getting a break: <\/strong><strong>End-of-year public school assessments will be <\/strong><strong>based on lessons delivered until<\/strong><strong> 15 March<\/strong>, rather than the full year\u2019s curriculum, Education Minister Tarek Shawky <a href=\"https:\/\/ent.news\/2020\/3\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D8%B1%D8%A8%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85-%D9%8A%D8%B9%D9%84%D9%86-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D9%82%D8%B1%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%84%D8%AA%D9%8A%D8%B3%D9%8A%D8%B1-%D8%B9%D9%84%D9%89-%D8%A3%D8%A8%D9%86%D8%A7%D8%A6%D9%86%D8%A7-%D8%A7%D9%84%D8%B7%D9%84%D8%A7%D8%A8.pdf\">said in a statement<\/a>. The remaining parts of the curriculum will be covered next academic year. Assessments will take the form end-of-year projects (for grades 3-8) or electronic and seated exams (grades 9-12), we noted in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3af046a1-12d0-4bce-ba07-1522801ab085\">last week\u2019s edition of Blackboard<\/a>. Technical and vocational education, meanwhile, will continue online until mid-to-late April, with students required to hand in an assessed report by 15 June.<\/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\/3\/Jetty-Web-1.png?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>The US has enacted a USD 2.2 tn stimulus package<\/strong> as The Donald signed it into law shortly after it was approved by the House of Representatives late last week. The bill is the largest relief package in US history, designed to support citizens struggling in the face of the covid-19 pandemic by offering direct payments and expanded unemployment insurance, the <a href=\"https:\/\/www.wsj.com\/articles\/house-lawmakers-race-to-washington-to-ensure-coronavirus-stimulus-passes-11585318472?mod=hp_lead_pos1\">Wall Street Journal reports<\/a>.<\/p><p><strong>What\u2019s in it?<\/strong> It includes roughly USD 290 bn in direct payments to US citizens, enhanced employment aid of USD 260 bn, loans and grants of USD 377 bn to small businesses, USD 504 bn to bail out airlines and large businesses, USD 100 bn for hospitals and other health providers, USD 16 bn for ventilators and other medical supplies, USD 30 bn for education, and a raft of tax cuts. <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa-bill-contents\/factbox-whats-in-the-2-2-trillion-u-s-coronavirus-rescue-package-idUSKBN21E328\">Reuters has a longer run-down<\/a>.<\/p><p><strong>The story is being widely covered:<\/strong> <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-airlines-usa\/u-s-airlines-cheer-government-relief-but-warn-it-is-no-cure-for-deep-industry-crisis-idUSKBN21E3AA\">Reuters<\/a> \u23b8<a href=\"https:\/\/www.nytimes.com\/2020\/03\/28\/world\/coronavirus-live-news-updates.html?action=click&amp;module=Spotlight&amp;pgtype=Homepage\">New York<\/a><a href=\"https:\/\/www.nytimes.com\/2020\/03\/28\/world\/coronavirus-live-news-updates.html?action=click&amp;module=Spotlight&amp;pgtype=Homepage\">Times<\/a> \u23b8<a href=\"https:\/\/www.ft.com\/content\/2c70c1d5-b14e-4584-bd32-bb674dde3d9a\">Financial<\/a><a href=\"https:\/\/www.ft.com\/content\/2c70c1d5-b14e-4584-bd32-bb674dde3d9a\">Times<\/a>.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.ft.com\/content\/b4755c47-c731-4cfe-b2a9-dbfc080f687e\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/SP-500-FebMarch2020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Last week\u2019s rally in equity markets might go down as one of the biggest dead cat<\/strong> <strong>bounces ever:<\/strong> The sell-off in the global markets resumed on Friday even as Trump was preparing to sign off on the emergency stimulus package. Stocks launched a fierce three-day recovery last week after the Federal Reserve announced a flood of monetary stimulus and hopes grew for large-scale fiscal stimulus from countries around the world. The Dow Jones had <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-26\/stock-rally-to-build-in-asia-after-u-s-surge-markets-wrap?sref=mmeFTDW1\">its best week since 1938<\/a> and the S&amp;P 500 rose 10%, its biggest gain since March 2009.<\/p><p><strong>US and European stocks finished deep in the red on Friday:<\/strong> All three major US indices were down more than 3%, with the S&amp;P 500 losing 3.4% and the Dow down more than 4%. It was slightly messier in Europe as markets all fell between 3-5%, with Germany\u2019s DAX being the best performer (down 3.7%) and the FTSE 100 being the hardest hit (down 5.2%).<\/p><p><strong>World already in recession -Georgieva:<\/strong> The covid-19 outbreak has already pushed the world into recession and policymakers must react with \u201cvery massive\u201d spending to avoid widespread bankruptcies and emerging market bond defaults, IMF head Kristalina Georgieva said on Friday, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-imf\/imfs-georgieva-says-world-in-recession-countries-must-go-big-on-spending-idUSKBN21E25S\">Reuters reports<\/a>. \u201cIt is now clear that we have entered a recession as bad or worse than in 2009,\u201d she said at a news conference, adding that there is a good chance for a \u201csizeable rebound\u201d next year if the virus is successfully contained and countries provide enough fiscal support to businesses.<\/p><p><strong>EM countries need at least USD 2.5 tn in emergency funding<\/strong> to survive the crisis, Georgieva said. Eighty-one countries have so far approached the IMF to ask about emergency funding, including 50 low-income and 31 middle-income countries.<\/p><p><strong>S&amp;P has lowered its crude price forecasts by USD 10\/bbl for 2020<\/strong> as the price war between Saudi Arabia and Russia continues to bring down prices and covid-19 hits global demand, <a href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/200319-s-p-global-ratings-cuts-wti-and-brent-crude-oil-price-assumptions-amid-continued-near-term-pressure-11397397\">according to a research note (paywall).<\/a> The ratings agency now sees Brent averaging USD 30\/bbl this year and US crude trading at USD 25\/bbl until the end of the year.<\/p><p><strong>Riyadh isn\u2019t signalling that it\u2019s ready to kiss and make up:<\/strong> Saudi Arabia said on Friday that no communication has taken place with Russia to balance oil markets despite the US ramping up pressure on Riyadh to end the price war, <a href=\"https:\/\/www.reuters.com\/article\/us-oil-opec\/saudi-arabia-says-no-talks-on-new-oil-deal-as-moscow-suggests-larger-opec-idUSKBN21E202\">according to Reuters<\/a>.<\/p><p><strong>Covid-19\u2019s pressure on corporate earnings could push global FDI down<\/strong><strong> 35% in 2020-2021 -UNCTAD:<\/strong> Earnings revisions in multinational enterprises (MNEs) since the spread of the covid-19 virus suggest that the effect of the outbreak will extend beyond supply chain disruptions and will create downward pressure of around 35% on global FDI, UNCTAD said in a revised <a href=\"https:\/\/unctad.org\/en\/PublicationsLibrary\/diaeiainf2020d3_en.pdf\">investment trends monitor (pdf)<\/a>. \u201cOn average, the top 5000 MNEs, which account for a significant share of global FDI, have now seen downward revisions of 2020 earnings estimates of 30% due to Covid-19, and the trend is likely to continue,\u201d UNCTAD says.<\/p><p><strong>Cross-border M&amp;A, which count as a portion of FDI, could also decline 50-70% for part <\/strong><strong>of 2020<\/strong>, and M&amp;A transactions that have already been completed are now facing delays that could turn into cancellations, according to the report. The full scale of decline in global FDI depends how long the pandemic lasts, its level of severity, and \u201cthe scope of containment measures\u201d being enacted by governments to mitigate the virus\u2019 spread.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-okq8w4r\" data-v=\"4\" data-block-id=\"okq8w4r\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-okq8w4r-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-okq8w4r-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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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=\"570344\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/covid-19-still-top-story-on-talk-shows\/\">\r\n                            Covid-19 still top story 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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/covid-19-still-top-story-on-talk-shows\/&title=Covid-19 still top story on talk shows\">\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=Covid-19+still+top+story+on+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F29%2Fcovid-19-still-top-story-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\/29\/covid-19-still-top-story-on-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570344\" class=\"content-area-description single-story post-570344 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-central-bank-of-egypt tag-covid-19 tag-el-sayid-el-qusayr tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-health-ministry tag-nabila-makram wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The nation\u2019s talk shows were back last night with all the latest on the covid-19 outbreak: <\/strong>Min Masr\u2019s Amr Khalil covered the Health Ministry\u2019s statement yesterday that announced 40 fresh cases, bringing the total number to 576, and six new fatalities that raised the overall death toll to 36 <a href=\"https:\/\/www.youtube.com\/watch?v=tUrvrHQQAxM\">(watch, runtime: 1:34)<\/a> <a href=\"https:\/\/www.youtube.com\/watch?v=99uJxksN_gQ\">(watch, runtime: 7:12)<\/a>. El Hekaya\u2019s Amr Adib spoke with Health Ministry spokesman Khaled Megahed <a href=\"https:\/\/www.youtube.com\/watch?v=ySuHAEFWjBQ\">(watch, runtime: 25:33)<\/a> to cover the updates, and chatted to the prime minister\u2019s media advisor Hany Younis, who said that the prime minister has instructed local industries to produce ventilators and promised them government support, but no details or timeframe were discussed <a href=\"https:\/\/www.youtube.com\/watch?v=uf7ecX7bdAU\">(watch, runtime: 2:26)<\/a>. Adib also covered the World Health Organization\u2019s report which reported favorably on Egypt\u2019s handling of its covid-19 outbreak <a href=\"https:\/\/www.youtube.com\/watch?v=DRIcIcdFTFI\">(watch, runtime: 2:45)<\/a>.<\/p>\n<p><strong>Egyptians stuck abroad: <\/strong>Masaa DMC\u2019s Eman El Hosary spoke with Immigration Minister Nabila Makram who said that the government is working with embassies abroad on tallying up the number of Egyptians struggling to return home. She said that four planes were arriving to Cairo today from the UK as well as another on Tuesday, and a flight is being arranged to repatriate Egyptians in France on Tuesday. She added that many honeymooners are stranded in South Asian countries and efforts are underway to ensure they don\u2019t incur fines from their extended stays until they return <a href=\"https:\/\/www.youtube.com\/watch?v=z9-9j7cS18Y\">(watch, runtime: 8:07)<\/a>. Min Masr\u2019s Amr Khalil <a href=\"https:\/\/www.youtube.com\/watch?v=bSndHlQMQ0k\">(watch, runtime: 17:25)<\/a> had the same report.<\/p>\n<p><strong>Covid-19 could peak this week -Zayed:<\/strong> Health Minister Hala Zayed suggested to Adib on Friday night that the virus could peak this week. She noted that in other countries the outbreak has tended to reach its height after the sixth or seventh weeks, and that Egypt is now entering its seventh week since the first case was discovered. Because of this, the following two weeks will be crucial if Egypt is to finally get a handle on the crisis and start flattening the curve (<a href=\"https:\/\/www.youtube.com\/watch?v=PAeEI0-aTF8\">watch, runtime: 26:14<\/a>).<\/p>\n<p><strong>Rumors debunked:<\/strong> El Hosary covered the cabinet statement denying rumors circulating on social media that claimed that the government\u2019s call for workers to stay home if they can meant that the state will pay private sector salaries <a href=\"https:\/\/www.youtube.com\/watch?v=6F8JE3b0hTk\">(watch, runtime: 1:02)<\/a>. Min Masr\u2019s Amr Khalil mentioned the same posts as well as others that claimed government workers would be getting raises and that petroleum prices were dropping. <a href=\"https:\/\/www.youtube.com\/watch?v=F_y7XXQX-lo\">(watch, runtime: 2:54)<\/a><\/p>\n<p><strong>Relief for farmers: <\/strong>Adib spoke with Agriculture Minister El Sayid El Qusair who discussed the Central Bank of Egypt\u2019s efforts to assist farmers which include suspending loan payments for six months <a href=\"https:\/\/www.youtube.com\/watch?v=UhZfyXXNfZc\">(watch, runtime: 4:58)<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-sayid-el-qusayr\/\">El Sayid El Qusayr<\/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\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nabila-makram\/\">Nabila Makram<\/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=\"570345\" 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=\"570345\">\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\/29\/egypt-cuts-gdp-growth-forecast-to-5-1-from-5-6-in-fy-2019-2020\/\">\r\n                            Egypt cuts GDP growth forecast to 5.1% from 5.6% in FY 2019-2020                        <\/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\/29\/egypt-cuts-gdp-growth-forecast-to-5-1-from-5-6-in-fy-2019-2020\/\" 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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Growth was already expected to slow to 5.2% in 3Q2019-2020 and to 4% in the fourth quarter of the fiscal year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/979906db-0d5b-4861-86e0-bf60b6684a40\">compared to 5.6% in 1H2019-2020<\/a>, itself a slower growth rate than the 6% targeted in the annual budget. The government had forecast GDP to grow at an annual clip of at least 5.5% <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/22\/egypt-records-state-budget-deficit-of-2-1-in-1q2019-20-8829\/\">over the next few years<\/a>.<\/p>\n<p><strong>Cabinet has also revised its targets for the coming fiscal year:<\/strong> The economy is expected to grow at a 4.2% clip in FY2020-2021 \u2014 instead of an initially estimated 6% \u2014 if the pandemic is brought under control before the beginning of the new fiscal year in July. But if the crisis continues into the new year, growth could slow to as little as 3%, El Said said, <a href=\"https:\/\/bit.ly\/2UCxVB2\">according to a cabinet statement<\/a>.<\/p>\n<p><strong>This is much more optimistic than what the analysts are projecting: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53d1e2e8-e897-4e44-8499-fde0eecb01e1\">Capital Economics<\/a> said last week that the economy will likely contract 1.3% this year before rebounding significantly to grow at a 7.8% clip in the coming fiscal year. Renaissance Capital <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5dd71a6-0011-4874-92ae-bcaa9ac69e62\">also said last week<\/a> that the government\u2019s measures to contain the covid-19 outbreak \u2014 including imposing a nighttime curfew and partial closure of restaurants \u2014 could threaten 30% of Egypt\u2019s nominal GDP.<\/p>\n<p><strong>Also revised in the upcoming fiscal year\u2019s budget:<\/strong> The council of ministers <a href=\"https:\/\/bit.ly\/2JoyRns\">revised upward<\/a> its public debt target to 82.7% of GDP, from an initially targeted 80%, and raised the overall deficit to 6.3% <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/753cdb7e-9f0e-4653-a71d-daf5146d8140\">from 6.2%<\/a>. The budget, which earned cabinet approval, will now be shipped to the House of Representatives, where the Planning and Budget Committee is set to begin reviewing it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eb34c8b-74bb-4e93-8c16-74a4c367e829\">on 12 April<\/a>.<\/p>\n<p><strong>EXCLUSIVE- Gov\u2019t starts planning best, worst case scenarios for economic outlook following covid-19 pandemic:<\/strong> The government sees the worst case scenario as the pandemic persisting until the end of December 2020, which would drive down Egypt\u2019s economic growth to 3.3-3.5% in FY2020-2021, Finance Minister Mohamed Maait tells Enterprise. The best case scenario would see the outbreak curbed by July, in which case the government expects GDP to grow at a 4.5-5% clip in the fiscal year running July 2020 through June 2021. A middle ground scenario, in which the crisis would end sometime between July and December, would deliver growth levels between 3.3% and 5%. The FY2020-2021 state budget has been amended according to this middle ground.<\/p>\n<p><strong>The government would consider asking the IMF for new funding if necessary<\/strong> to finance its spending needs, Maait tells us. Egypt had previously ruled out signing up for a new loan from the IMF and <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/29\/egypt-and-imf-continue-talks-for-post-loan-agreement\/\">was in talks<\/a> with the lender for a non-loan agreement following the expiry of the USD 12 bn Extended Fund Facility. The extenuating circumstances created by the crisis means the government is obliged to revisit all its options to cover its finances, the minister says.<\/p>\n<p><strong>How individual industries are expected to fare:<\/strong> Once the economy cools down, it naturally takes time for the wheels to start turning again, particularly as many industries are interconnected and driven by consumer demand, which falls during times of recession, the minister tells us. Maait expects tourism \u2014 the most negatively affected industry in Egypt so far \u2014 to take a year to stage a full recovery. Other industries would also take some time to get back on track, but tourism is expected to have the longest recovery period since global spending on tourism post-covid will likely be minimal. Maait also pointed out that the cancellation of this year\u2019s initial travel exhibitions, during which tourism companies in Egypt typically sign agreements and partnerships for the year ahead, means the industry has missed out on a year\u2019s worth of potential agreements.<\/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\/capital-economics\/\">Capital Economics<\/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\/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\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget\/\">state budget<\/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=\"570357\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570358\" 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=\"570358\">\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\/29\/heavy-net-outflows-from-em-bond-funds-continue-but-could-brighter-days-follow\/\">\r\n                            Heavy net outflows from EM bond funds continue, but could brighter days follow?                        <\/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\/29\/heavy-net-outflows-from-em-bond-funds-continue-but-could-brighter-days-follow\/\" 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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Data from EPFR Global shows that EM bond outflows hit USD 17 bn in the week leading up to 25 March, following a record USD 18.8 bn the week before. Outflows in the past four weeks hit USD 47.7 bn, the equivalent of 10.2% of all assets under management. Asset dumping has now erased a third of the USD 140 bn of net inflows to EM bonds that took place over the past four years, according to Bank of America, and for the first time since the start of the crisis, the outflow from local-currency EM bond funds exceeds that exiting hard-currency vehicles.<\/p>\n<p><strong>March has seen a rapid turnaround for EM bonds once termed \u201cimmune to coronavirus.\u201d<\/strong> EM bonds were holding up well at the beginning of March, supported by investors\u2019 continuing search for yield, <a href=\"https:\/\/www.ft.com\/content\/6836839e-5c79-11ea-8033-fa40a0d65a98\">according to Absolute Strategy Research economist Adam Wolfe<\/a>. But amid the global slowdown, investors have been rushing to dump EM assets and seek the safety of cash. The sell-off \u2014 which far exceeds that seen at the beginning of the 2008 financial crisis \u2014 will see households, businesses and governments starved of credit, according to International Institute of Finance <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bafa5ea-1e04-48bb-a79a-a602ca5b3a5d\">Chief Economist Robin Brooks<\/a>.<\/p>\n<p><strong>What does this mean for Egypt?<\/strong> Just months ago, Egypt was considered a highly promising market, thanks to the real interest rate on our bonds, which <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/11\/attractive-bond-real-yield-rates-are-drawing-investors-to-egypt-6066\/\">in November last year<\/a> stood at 9.42%, far exceeding the Turkish bond yields in second place at 5.14%. But the central bank\u2019s<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2e78eb3-6978-4eb5-a04f-a3b7247293ed\">emergency 300 bps rate cut<\/a> two weeks ago is likely to accelerate outflows of foreign debt securities, according to EFG Hermes economist Mohamed Abu Basha. Despite this, EGP debt remains \u201crelatively attractive,\u201d <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2e78eb3-6978-4eb5-a04f-a3b7247293ed\">according to HC Securities\u2019 Monette Doss<\/a>. Yields on Egyptian government debt will offer a 0.95% real interest rate (accounting for the 3% rate reduction and HC\u2019s forecast for 9% inflation through 2020) compared to 0% for Turkey, she said.<\/p>\n<p><strong>It\u2019s the worst 1Q on record for EM debt fund outflows, but there could be brighter days ahead.<\/strong> While JPMorgan\u2019s core index of hard currency-denominated debt is down 10.9% this year, outflows for EM bonds still haven\u2019t reached the levels seen in other periods of turmoil, according to Morgan Stanley. Total EM sovereign issuance for March 2020 is down to USD 4 bn from USD 31 bn in March 2019. But some EM governments, including Panama, Latvia and Israel, did sell new bonds this week, which analysts see as an encouraging sign. And while investors are waiting for a weakening USD and a clearer idea of how the covid-19 crisis will develop in the southern hemisphere before returning to the asset class, the US government\u2019s USD 2.2 tn stimulus package and global central bank liquidity measures do seem to be bolstering confidence and supporting risk appetite.<\/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\/asset-management\/\">asset management<\/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 rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/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=\"570360\" 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=\"570360\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/el-sisi-three-african-leaders-agree-to-create-fund-to-combat-covid-19-spread-aid-economic-recovery\/\">\r\n                            El Sisi, three African leaders agree to create fund to combat covid-19 spread, aid economic recovery                        <\/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 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             \n<article id=\"post-570360\" class=\"content-area-description single-story post-570360 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-abdel-fattah-el-sisi tag-africa tag-covid-19 tag-diplomacy tag-diplomacy-foreign-trade tag-dr-congo tag-enterpriseam tag-kenya tag-politics tag-south-africa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>El Sisi agrees with three African leaders to create fund to combat covid-19 spread, <\/strong><strong>aid economic<\/strong><strong> recovery: <\/strong>President Abdel Fattah El Sisi agreed with the presidents of South Africa, Kenya, and Congo and the chairperson of the African Union Commission to create a fund to support efforts to combat the covid-19 pandemic and limit its expected economic effect on African countries during an online mini-summit on Thursday, <a href=\"https:\/\/bit.ly\/3apbqpX\">according to an Ittihadiya statement<\/a>.<\/p>\n<p><strong>El Sisi received a call from Tunisian President Kais Saied to coordinate efforts to combat covid-19 <\/strong>and exchange information, <a href=\"https:\/\/bit.ly\/2ygTU9l\">Ittihadiya said<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dr-congo\/\">DR Congo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kenya\/\">Kenya<\/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-africa\/\">South Africa<\/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=\"570361\" 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=\"570361\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/\">\r\n                            Transport Ministry receives three bids for Damietta port\u2019s second container terminal                        <\/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\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/\" 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\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/')\">\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\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/\">\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=Transport Ministry receives three bids for Damietta port\u2019s second container terminal&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/\">\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\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/&title=Transport Ministry receives three bids for Damietta port\u2019s second container terminal\">\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=Transport+Ministry+receives+three+bids+for+Damietta+port%E2%80%99s+second+container+terminal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F29%2Ftransport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal%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\/29\/transport-ministry-receives-three-bids-for-damietta-ports-second-container-terminal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570361\" class=\"content-area-description single-story post-570361 post type-post status-publish format-standard hentry category-infrastructure tag-damietta-international-ports-company tag-ebrd tag-enterpriseam tag-infrastructure tag-judiciary wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Transport Ministry has received bids from three international consortiums to build the second container terminal at Damietta Port in a project worth USD 300 mn, <a href=\"https:\/\/bit.ly\/2xzuB24\">Al Shorouk reports<\/a>, citing sources close to the ministry which didn\u2019t name the companies. The European Bank for Reconstruction and Development <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/13\/ebrd-preliminarily-agrees-to-lend-eur-400-mn-to-egypts-damietta-port-authority\/\">agreed in principle last year to lend<\/a> the Damietta Port Authority EUR 400 mn to finance the construction of the terminal.<\/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\/damietta-international-ports-company\/\">Damietta International Ports Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/judiciary\/\">judiciary<\/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=\"570362\" 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=\"570362\">\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\">Basic Materials + Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/egypt-sees-delays-in-offloading-grain-shipments\/\">\r\n                            Egypt sees delays in offloading grain shipments                        <\/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\/29\/egypt-sees-delays-in-offloading-grain-shipments\/\" 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\/29\/egypt-sees-delays-in-offloading-grain-shipments\/')\">\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\/29\/egypt-sees-delays-in-offloading-grain-shipments\/\">\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 sees delays in offloading grain shipments&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/egypt-sees-delays-in-offloading-grain-shipments\/\">\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\/29\/egypt-sees-delays-in-offloading-grain-shipments\/&title=Egypt sees delays in offloading grain shipments\">\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+sees+delays+in+offloading+grain+shipments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F29%2Fegypt-sees-delays-in-offloading-grain-shipments%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\/29\/egypt-sees-delays-in-offloading-grain-shipments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570362\" class=\"content-area-description single-story post-570362 post type-post status-publish format-standard hentry category-basic-materials-commodities tag-basic-materials-commodities tag-black-sea tag-commodities tag-enterpriseam tag-food tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egypt has encountered delays in offloading Black Sea supplies of corn and wheat for the private market, with at least four cargoes reportedly delayed at ports as offices closed due to covid-19 slow down paperwork, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-food-security\/food-security-concerns-stoked-as-exporters-curb-sales-importers-buy-more-idUSKBN21D0YV\">Reuters reports<\/a>. The government has said it is well stocked with strategic supplies for the coming four months.<\/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\/basic-materials-commodities\/\">Basic Materials + Commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/black-sea\/\">Black Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570364\" 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=\"570364\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/\">\r\n                            Four int\u2019l companies withdraw bids to build Giza-Beni Suef rail signal boxes                        <\/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\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/\" 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\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/')\">\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\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/\">\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=Four int\u2019l companies withdraw bids to build Giza-Beni Suef rail signal boxes&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/\">\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\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/&title=Four int\u2019l companies withdraw bids to build Giza-Beni Suef rail signal boxes\">\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=Four+int%E2%80%99l+companies+withdraw+bids+to+build+Giza-Beni+Suef+rail+signal+boxes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F29%2Ffour-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes%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\/29\/four-intl-companies-withdraw-bids-to-build-giza-beni-suef-rail-signal-boxes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570364\" class=\"content-area-description single-story post-570364 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Four international companies have withdrawn their bids to build signal boxes for the Giza-Beni Suef railway line, <a href=\"https:\/\/bit.ly\/2WXgz4Z\">Al Shorouk reports<\/a>, noting only that the companies are Chinese and Spanish. Magdy Saleh, general manager at Intelligent Micro Solutions (IMS), the local agent for one of the Chinese companies, said that their bid was withdrawn when the National Railway Authority refused to extend the tender by three months due to the covid-19 outbreak, despite purchasing a conditions booklet. The report does not note the tender\u2019s original deadline.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570365\" 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=\"570365\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/\">\r\n                            11.5k antiquities from Egypt and Iraq to be repatriated from DC\u2019s Museum of the Bible                        <\/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\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/\" 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\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/')\">\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\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/\">\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=11.5k antiquities from Egypt and Iraq to be repatriated from DC\u2019s Museum of the Bible&url=https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/\">\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\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/&title=11.5k antiquities from Egypt and Iraq to be repatriated from DC\u2019s Museum of the Bible\">\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=11.5k+antiquities+from+Egypt+and+Iraq+to+be+repatriated+from+DC%E2%80%99s+Museum+of+the+Bible+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F03%2F29%2F11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible%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\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/325.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570366\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/11-5k-antiquities-from-egypt-and-iraq-to-be-repatriated-from-dcs-museum-of-the-bible\/325-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/325.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"325.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/325.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/325.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570365\" class=\"content-area-description single-story post-570365 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-archaeology tag-enterpriseam tag-iraq wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Around 11.5k antiquities from Egypt and Iraq are being repatriated<\/strong> by Hobby Lobby president Steve Green, who had collected them for display in the <a href=\"https:\/\/www.museumofthebible.org\/\">Museum of the Bible<\/a> in Washington, DC, the <a href=\"https:\/\/www.wsj.com\/articles\/hobby-lobby-president-to-return-11-500-antiquities-to-iraq-and-egypt-11585324494?mod=searchresults&page=1&pos=1\">Wall Street Journal reports<\/a>. Hobby Lobby was at the center of a scandal over how it was able to acquire its artifacts, and was forced to pay USD 3 mn in 2017 in a lawsuit filed by the US government that alleged it had smuggled 3.8k Iraqi antiquities out of the country by mislabelling them, all of which were returned two years ago. The latest trove of artifacts to be repatriated consist of some 5k ancient papyrus fragments and 6.5k ancient clay objects.<\/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\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/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=\"570367\" 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=\"570367\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/29\/the-market-yesterday-60\/\">\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\/29\/the-market-yesterday-60\/\" 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\/29\/the-market-yesterday-60\/')\">\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\/29\/the-market-yesterday-60\/\">\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\/29\/the-market-yesterday-60\/\">\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\/29\/the-market-yesterday-60\/&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%2F29%2Fthe-market-yesterday-60%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\/29\/the-market-yesterday-60\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570367\" class=\"content-area-description single-story post-570367 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 15.69 | Sell 15.79<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.70 | Sell 15.80<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.68 | Sell 15.78<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 9,913 (+0.5%)<br \/>\n <strong>Turnover:<\/strong> EGP 674 mn (12% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -29.0%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session up 0.5%. CIB, the index\u2019s heaviest constituent, ended down 0.1%. EGX30\u2019s top performing constituents were GB Auto up 8.0%, Kima up 7.9%, and Pioneers Holding up 5.0%. Thursday\u2019s worst performing stocks were Eastern Company down 1.3%, and CIB down 0.1%. The market turnover was EGP 674 mn, and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -155.3 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -4.3 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +159.6 mn<\/p>\n<p><strong>Retail<\/strong>: 48.5% of total trades | 49.4% of buyers | 47.6% of sellers<br \/>\n <strong>Institutions<\/strong>: 51.5% of total trades | 50.6% of buyers | 52.4% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 21.51 (-4.82%)<br \/>\n <strong>Brent:<\/strong> USD 24.93 (-5.35%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 1.67 MMBtu, (-1.07%, May 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,654.10 \/ troy ounce (-0.37%)<\/p>\n<p><strong>TASI:<\/strong> 6,326 (+1.90%) (YTD: -24.58%)<br \/>\n <strong>ADX:<\/strong> 3,770 (-3.84%) (YTD: -25.71%)<br \/>\n <strong>DFM:<\/strong> 1,809 (-0.76%) (YTD: -34.57%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,281 (-1.14%)<br \/>\n <strong>QE:<\/strong> 8,479 (-0.65%) (YTD: -18.67%)<br \/>\n <strong>MSM:<\/strong> 3,538 (-0.49%) (YTD: -11.11%)<br \/>\n <strong>BB: <\/strong>1,388 (+0.27%) (YTD: -13.75%)<\/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=\"570368\" 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\/29\/570368\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570368\" class=\"content-area-description single-story post-570368 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>31 March (Tuesday): Houses of worship expected to be reopened to the public.<\/p>\n<p>2 April (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>2-4 April (Thursday- Saturday): Global Forum for Higher Education and Scientific Research (<a href=\"https:\/\/menafn.com\/1099821661\/Egypt-Higher-Education-Ministry-prepares-for-GFHS2020-for-scientific-research\">GFHS2020<\/a>) under the theme \u201cFuture in Action,\u201d new administrative capital, Egypt.<\/p>\n<p>12 April (Sunday): House of Representatives covid-19 recess ends.<\/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>13 April (Monday): Schools and universities expected to resume classes after covid-19 closure.<\/p>\n<p>15 April (Wednesday): International flight suspension in Egypt expected to be lifted.<\/p>\n<p>16 April (Thursday): New deadline for individuals to file their tax returns to the Egyptian Tax Authority.<\/p>\n<p>17-19 April (Friday-Sunday): IMF, World Bank will hold virtual Spring Meetings.<\/p>\n<p>18 April (Saturday): One half of renowned duo 2CELLOS, Stjepan Hauser, known simply as Hauser, will be performing his only show in Egypt and it will take place in Somabay, Hurghada on April 18th. Tickets on sale at Ticketsmarche soon.<\/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>June: <a href=\"https:\/\/www.facebook.com\/CEconomySummit\/\">Circular Economy Summit<\/a>, Egypt, venue TBA.<\/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":570341,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-570340","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0e9dd5d9-8769-497c-988d-b0deaaaf7cec","teaser":"","photo_url":"https:\/\/ent.news\/2020\/3\/317.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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