{"id":570377,"date":"2020-03-30T04:10:58","date_gmt":"2020-03-30T04:10:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=570377"},"modified":"2025-12-16T07:25:51","modified_gmt":"2025-12-16T07:25:51","slug":"cbe-announces-new-daily-limits-on-bank-withdrawals-and-deposits","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-announces-new-daily-limits-on-bank-withdrawals-and-deposits\/","title":{"rendered":"CBE announces new daily limits on bank withdrawals and deposits"},"content":{"rendered":"<section id=\"570379\" 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=\"570379\">\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\/30\/what-were-tracking-on-30-march-2020\/\">\r\n                            What we\u2019re tracking on 30 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\/30\/what-were-tracking-on-30-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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The US president had previously said he wanted the US open an \u201craring to go\u201d by mid-month.<\/p><p><strong>Worth a listen this morning: <\/strong>Central Bank Governor Tarek Amer\u2019s appearance on TV to talk about the impact of covid-19 on the economy. We have highlights and the link in this morning\u2019s Speed Round, below.<\/p><p><strong>Market update: <\/strong>The EGX30 closed down 1.5% yesterday in a session marked by anemic volumes, with turnover some 30% below the trailing 90-day average. <strong>Asian markets are squarely in the red<\/strong> in the first trading day of the week, with major indices in South Korea, China, Hong Kong, Japan and India all down at least 1% in early trading as we headed toward dispatch this morning. Futures suggest a <strong>lower open for US and European markets<\/strong>.<\/p><p><strong>PSA- Heavy, dusty winds will roil most of the country today<\/strong> and sandstorms could strike the northwest coast, the <a href=\"https:\/\/www.emaeg.org\/?lang=en\">Egyptian Meteorological Authority<\/a> said. Areas most likely to be affected include Cairo, the Nile Delta, the Mediterranean coast and the northern regions of Upper Egypt. Look for highs of 29\u00b0C today, with the evening cooling to around 24\u00b0C. The warm weather is set to continue through the weekend and spike above 30\u00b0C in the capital on Saturday and Sunday.<\/p><p><strong>And one quick reminder: Thursday is interest rate day<\/strong>, with the Central Bank of Egypt\u2019s Monetary Policy Committee set to meet.<\/p><hr class=\"grey-line\"><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>The <\/strong><strong><a href=\"https:\/\/bit.ly\/2WSyv0z\">Health Ministry has reported<\/a><\/strong><strong> 33 new cases of covid-19 yesterday<\/strong><strong> evening, all <\/strong><strong>Egyptians, taking the total to <\/strong><strong>609.<\/strong> Another four fatalities \u2014 all Cairenes aged 58-84 \u2014 brought the death toll to 40. A total of 132 people have fully recovered so far and been discharged from hospital and 182 people have tested negative after treatment in hospital.<\/p><p><strong>Mosques will remain shut down indefinitely<\/strong>, <a href=\"https:\/\/bit.ly\/2ycnNre\">Religious Endowments Minister Mohamed<\/a> <a href=\"https:\/\/bit.ly\/2ycnNre\">Gomaa said<\/a>. The ministry ordered mosques to close their doors for two weeks as of 21 March in a bid to curb the covid-19 outbreak. The Coptic Church had also suspended masses and other activities in churches at the same time; it has yet to say whether it, too, will extend the shutdown.<\/p><p><strong>Market data provider EGID has launched a new online platform \u2018E-Maglis\u2019 that enables<\/strong> <strong>shareholders to take part in meetings and vote remotely<\/strong>, <a href=\"https:\/\/ent.news\/2020\/3\/%D8%A8%D9%8A%D8%A7%D9%86-%D8%B5%D8%AD%D9%81%D9%89-%D9%87%D8%A7%D9%85.pdf\">according to a statement (pdf)<\/a>. The system will allow companies to continue operating as usual through the pandemic while at the same time supporting the government\u2019s \u201cdigital transformation\u201d strategy, EGX boss Mohamed Farid told Enterprise. EGID is an EGX-owned company.<\/p><p><strong>The Financial Regulatory Authority <\/strong><strong><a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/efsa_news\/efsa_868.htm\">has instructed microlenders<\/a><\/strong><strong> to consider delays <\/strong>on a case-by-case basis of up to 50% of the value of monthly installments for struggling clients.<\/p><hr class=\"grey-line\"><p><strong>The Federation of Egyptian Industries has handed the government a long shopping list of<\/strong> <strong>measures it wants to see enacted to help businesses through the pandemic<\/strong>, the <a href=\"https:\/\/alborsaanews.com\/2020\/03\/29\/1313636\">local press reports<\/a>. It calls a six-month postponement of the deadline to file and pay taxes for FY2019, exempting companies from paying income tax and social insurance for three months, raising the domestic market allocation for those who have export restrictions to 50% from 20%, and expediting the payment of overdue export subsidies. The FEI also wants the government to cover two weeks of wages for any factory that closes down to promote social distancing.<\/p><p><strong>We think some measure of tax relief is a good idea<\/strong>, but we\u2019re not certain we would start filling the FEI\u2019s shopping list in full or in part right now. Egypt\u2019s economy isn\u2019t feeling the same pinch as, say, Italy, Spain or New York \u2014 and<strong> we need something in reserve<\/strong> in case (a) we do or (b) the status quo lingers for months rather than weeks.<\/p><hr class=\"grey-line\"><p><strong>State-paid healthcare workers will receive a 75% allowance on top of their wages,<\/strong> an <a href=\"https:\/\/bit.ly\/33Z1j8X\">Ittihadiya statement<\/a> said. President Abdel Fattah El Sisi allocated EGP 2.25 bn for the initiative and set up an emergency fund for as support for medical professionals, including doctors working in university hospitals, during the covid-19 outbreak. Doctors will receive an additional EGP 700, physiotherapists EGP 500 and nurses EGP 400, using a <a href=\"https:\/\/www.youm7.com\/story\/2020\/3\/29\/%D8%A5%D9%86%D9%81%D9%88%D8%AC%D8%B1%D8%A7%D9%81-%D9%83%D9%84-%D9%85%D8%A7-%D8%AA%D8%B1%D9%8A%D8%AF-%D9%85%D8%B9%D8%B1%D9%81%D8%AA%D9%87-%D8%B9%D9%86-%D8%AD%D8%B3%D8%A7%D8%A8-%D8%A8%D8%AF%D9%84-%D8%A7%D9%84%D9%85%D9%87%D9%86-%D8%A7%D9%84%D8%B7%D8%A8%D9%8A%D8%A9\/4695959\">payment system<\/a> related to their basic wages.<\/p><p><strong>Foreign Minister Sameh Shoukry said he is working with the Civil Aviation Ministry to<\/strong> <strong>repatriate Egyptians stuck abroad.<\/strong> Speaking in <a href=\"https:\/\/www.youtube.com\/watch?v=yH9bAoT3D4w\">an interview on Al Mehwar TV<\/a>, Shoukry said the Madbouly government is focused on Egyptian tourists stranded abroad and students studying overseas.<\/p><p><strong>An EgyptAir flight brought back 340 Egyptians from Kuwait yesterday<\/strong>, <a href=\"https:\/\/bit.ly\/2JA31Vb\">the local press<\/a> <a href=\"https:\/\/bit.ly\/2JA31Vb\">reports<\/a>. Arrangements are also being made to bring back Egyptians in Tunisia, <a href=\"https:\/\/bit.ly\/3dN0uVs\">according to a cabinet statement<\/a>. Other evacuations are in the works to bring home citizens from the UK, Saudi Arabia, UAE, Oman, Lebanon, and Jordan this week.<\/p><p><strong>An Egyptian star in a rare \u201cgood news\u201d covid story: <\/strong>Egyptian-American doctor Nermeen Botros has been named \u201cHero of the Day\u201d <a href=\"https:\/\/nypost.com\/2020\/03\/25\/hero-of-the-day-brooklyn-doctor-brings-calm-during-80-hour-weeks\/\">by the New York Post<\/a> for working punishing 80-hour weeks since the start of the crisis and for her courage during these unnerving times.<\/p><hr class=\"grey-line\"><p><strong>Investors lap up nine-month t-bills, balk at yield on three-month notes:<\/strong> A government bond auction held yesterday was a tale of two halves, as investors oversubscribed to the EGP 10.5 bn nine-month offering but largely rejected the offered yield on three-month bills. The central bank sold more than EGP 15.6 bn of nine-month bills at a yield of 13.611%, but only sold EGP 24 mn of its EGP 4 bn three-month issuance as investors demanded a 13.585% yield \u2014 more than 100 bps higher than the rate accepted by the CBE.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.ft.com\/content\/b5e1de86-eea1-4cb3-b911-878781e36c24\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/Corpbond-issuance-March-2020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Corpo<\/strong><strong>rate America anxious about first quarter earnings as uncertainty grows:<\/strong> US corporate earnings forecasts are now much less hopeful as companies revise their 2020 financial targets in light of the gradual shuttering of the US economy, <a href=\"https:\/\/www.reuters.com\/article\/uk-health-coronavirus-usa-results-idUKKBN21G0FV?taid=5e808a61e370aa000162394e&amp;utm_campaign=trueAnthem%3A+Trending+Content&amp;utm_medium=trueAnthem&amp;utm_source=twitter\">says Reuters<\/a>. Analysts project a 2.9% y-o-y fall as we approach the earnings season for the first quarter, which begins in mid-April. A stark 7.1% drop may follow in quarter two, and 0.5% for full-year 2020, with only a slight recovery priced in for the third and fourth quarters, according to IBES data from Refinitiv, which is said to be one of the more optimistic forecasts.<\/p><p><strong>This gloomy view comes as the recorded number of cases in the US have now surpassed those of Italy and China,<\/strong> and as measures to contain the virus have temporarily shut down businesses and led to a wave of layoffs. We\u2019re keeping an eye out for US industry surveys and employment data due this week, which <a href=\"https:\/\/www.cnbc.com\/2020\/03\/27\/what-could-be-shocker-economic-reports-may-test-stocks-in-week-ahead.html\">CNBC says<\/a> \u201cwill likely paint a bleak picture of how much the first weeks of the coronavirus shutdown have already hit the economy.\u201d<\/p><p>And as revenue streams are threatened, <strong>bond issuance by investment grade corporates has soared to USD 244 bn this month,<\/strong> making it the second largest monthly record after the USD 252 bn sold in September, <a href=\"https:\/\/www.ft.com\/content\/b5e1de86-eea1-4cb3-b911-878781e36c24\">says the Financial Times<\/a>. US companies led the pack, selling USD 150 bn worth of new corporate paper to \u201coutlast any drag on revenues.\u201d<\/p><p><strong>In other international covid-19 news: <\/strong><\/p><ul>\n<li><strong>Saudi Arabia quarantines Jeddah:<\/strong> Saudi Arabia has banned people from entering and exiting Jeddah governorate, tightening lockdown measures as the death toll in the kingdom yesterday doubled to eight. (<a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-gulf\/saudi-arabia-expands-lockdown-as-coronavirus-death-toll-doubles-idUSKBN21G0FN\">Reuters<\/a>)<\/li>\n<li><strong>Spain strengthens measures, extends lockdown:<\/strong> Spain has ordered all non-essential workers to remain in their houses for two weeks, the latest government measure to contain the outbreak which has now infected almost 79k people. (<a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-spain\/spain-toughens-restrictions-as-coronavirus-death-toll-surges-idUSKBN21G0C0\">Reuters<\/a>)<\/li>\n<li><strong>Drive-thru testing in the UAE:<\/strong> Abu Dhabi has opened a drive-thru testing facility that will test people for covid-19 in just five minutes. (<a href=\"https:\/\/twitter.com\/admediaoffice\/status\/1244208772211453960\">Twitter<\/a>)<\/li>\n<\/ul><p class=\"web-image\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-29\/oil-plummets-to-17-year-low-as-virus-threatens-demand-slump?srnd=premium-middle-east&amp;sref=mmeFTDW1\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/Brent-Q12020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>There is an overwhelming global surfeit of oil and logistical services are \u201cstruggling to cope,\u201d<\/strong> as transport, businesses and factories have ground to a virtual standstill amid continued covid-19 lockdowns, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-29\/the-global-oil-market-is-broken-drowning-in-crude-nobody-needs?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg reports<\/a>. Demand is at an unprecedented low, with the 100 mn barrels of oil usually consumed per day slashed by a quarter in recent weeks, traders and analysts estimate.<\/p><p><strong>It doesn\u2019t come as much of a surprise, then, that oil fell below USD 20\/bbl in early trading today:<\/strong> WTI fell as much as 7.6% to lows not seen since November 2002 this morning. The US crude benchmark traded as low as USD 19.92 in early trading while Brent \u2014 <strong>which is on course for its worst quarter ever<\/strong> \u2014 fell 5.1% to USD 23.66\/bbl.<\/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\/Marina-Web-1.png?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>A three-month caffeine fast? Why on earth would you do that?<\/strong> Author Michael Pollan, who went on such a fast for research purposes to explore the effect of caffeine on the human body, offers the <a href=\"https:\/\/www.wsj.com\/articles\/how-quitting-caffeine-will-affect-your-sleepand-your-worldview-11585148167?mod=hp_lista_pos2\">Wall Street Journal<\/a> some compelling reasons: <strong>namely, it vastly improves the quality of your sleep.<\/strong> The man speaks sense, and the idea of sleeping like a teenager again is appealing, but we won\u2019t lie: There is zero chance of us putting this into practice anytime soon.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> We look at what schools and universities learned from the past few weeks of online education, and whether online learning tools can be adopted en masse and become the norm in a post-covid world.<\/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\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570381\" 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=\"570381\">\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\/30\/naguib-sawiris-channels-his-inner-donald-on-the-impact-of-social-distancing-on-the-economy\/\">\r\n                            Naguib Sawiris channels his Inner Donald on the impact of social distancing on the economy                        <\/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\/30\/naguib-sawiris-channels-his-inner-donald-on-the-impact-of-social-distancing-on-the-economy\/\" 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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id=\"post-570381\" class=\"content-area-description single-story post-570381 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-banque-misr tag-central-bank-of-egypt tag-covid-19 tag-egx tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-gold tag-hala-zayed tag-mohamed-el-etreby tag-naguib-sawiris tag-president-abdel-fatah-el-sisi tag-prime-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Naguib Sawiris dropped in to Al Kahera Alaan to offer his two cents<\/strong> on the state of the economy as the talking heads continued to chronicle the story of covid-19.<\/p>\n<p><strong>Al Kahera Alaan\u2019s Lamees El Hadidi spoke <\/strong><strong>to Egyptian bn\u2019naire Naguib Sawiris last night<\/strong>, who voiced his thoughts on the current state of the Egyptian economy and the financial markets.<\/p>\n<p><strong>The inveterate goldbug channeled his Inner Donald<\/strong> on social distancing and the economy and threw in some stock tips for good measure:<\/p>\n<ul>\n<li><strong>Sawiris urged the government to allow employees to return to work within a week<\/strong> and warned in colourful terms that the economy would suffer sharply if social distancing measures aren\u2019t scrapped soon. Shutting down entire sectors for an extended period would result in lay-offs and increasing rates of depression.<\/li>\n<li><strong>Go long on gold?<\/strong> Sawiris said that he has invested half of his capital in the precious metal and reiterated his confidence that the price of gold will rise due to the covid-19 crisis, despite it having recently eased.<\/li>\n<li><strong>The EGX hasn\u2019t bottomed out:<\/strong> Sawiris cautioned investors against buying into the EGX. \u201cWe have not reached the bottom and we will see companies whose shares will be at least 10% in the coming days,\u201d he warned.<\/li>\n<\/ul>\n<p><strong>You can watch the full interview here:<\/strong> <a href=\"https:\/\/www.youtube.com\/watch?v=wTZb-VOboO8\">(watch, runtime: 10:49)<\/a>.<\/p>\n<p><strong>Pay boost for healthcare workers:<\/strong> El Hadidi spoke with Health Minister Hala Zayed who discussed the latest covid-19 updates and President Abdel Fatah El Sisi\u2019s initiative to provide additional pay allowances to healthcare workers and exceptional bonuses to quarantine and chest hospital workers <a href=\"https:\/\/www.youtube.com\/watch?v=NmWCO9lDASE\">(watch, runtime: 9:52)<\/a>. El Hekaya\u2019s Amr Adib <a href=\"https:\/\/www.youtube.com\/watch?v=EPaBtjERBgM\">(watch, runtime: 2:59)<\/a>, Al Hayah Al Youm\u2019s Lobna Assal <a href=\"https:\/\/www.youtube.com\/watch?v=ZsookO2KnYE\">(watch, runtime: 2:36)<\/a>, Masaa DMC\u2019s Eman El Hosary <a href=\"https:\/\/www.youtube.com\/watch?v=fJHf6QJkGwQ\">(watch, runtime: 0:59)<\/a>, and Min Masr\u2019s Amr Khalil <a href=\"https:\/\/www.youtube.com\/watch?v=1cWqohAGe1o\">(watch, runtime: 2:32)<\/a> also covered the news.<\/p>\n<p><strong>CBE limits withdrawals:<\/strong> Hany Genena, the head of research Prime Holding investments, told El Hadidi that the central bank had chosen to place new limits on withdrawals after EGP 30 bn was withdrawn from Egyptian banks in the past three weeks. He said that the decision should not distress depositors, who should only have cause for concern if they see banks prohibit or limit transactions between entities <a href=\"https:\/\/www.youtube.com\/watch?v=aqaPr0IXkhk\">(watch, runtime: 14:49)<\/a>. El Hekaya\u2019s Amr Adib <a href=\"https:\/\/www.youtube.com\/watch?v=37D6ESI7qSA&t=19s\">(watch, runtime: 12:04)<\/a>, Masaa DMC\u2019s Eman El Hosary <a href=\"https:\/\/www.youtube.com\/watch?v=-zh8_1sGwtg\">(watch, runtime: 1:13)<\/a> had the same story, while. Min Masr's Amr Khalil spoke with the head of Banque Misr, Mohamed El Etribi <a href=\"https:\/\/www.youtube.com\/watch?v=U9cVCJq_eLQ\">(watch, runtime: 7:04)<\/a>. We have more on the central bank\u2019s announcement in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>Day labourers workers being tallied:<\/strong> El Hadidi also spoke with the Manpower Minister Mohamed Saafan who said that the ministry is currently vetting its lists of day labourers who applied for emergency relief, and that EGP 500 would be disbursed to 120k workers soon <a href=\"https:\/\/www.youtube.com\/watch?v=TKDOKd5TvLo&t=135s\">(watch, runtime: 4:38)<\/a>. Khalil had the same report <a href=\"https:\/\/www.youtube.com\/watch?v=lu4uSPmWqvk\">(watch, runtime: 1:11)<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/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\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-el-etreby\/\">Mohamed El Etreby<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/president-abdel-fatah-el-sisi\/\">President Abdel Fatah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-holding\/\">Prime Holding<\/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=\"570382\" 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=\"570382\">\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\/30\/cbe-temporarily-sets-daily-limit-on-bank-atm-cash-withdrawals-and-deposits\/\">\r\n                            CBE temporarily sets daily limit on bank, ATM cash withdrawals and deposits                        <\/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\/30\/cbe-temporarily-sets-daily-limit-on-bank-atm-cash-withdrawals-and-deposits\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The CBE said the measure is designed to force citizens to move away from cash and so reduce footfall at banks. The move comes as pensioners nationwide prepare to line up at bank branches to collect their monthly stipend starting 1 April. Reuters also <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2BM03X\">has the story<\/a>.<\/p>\n<p><strong>The measures include:<\/strong><\/p>\n<ul>\n<li><strong>Companies can withdraw EGP 50k per day<\/strong><strong>, but face no cap on deposits<\/strong>, according to <a href=\"https:\/\/ent.news\/2020\/3\/CBE-Note.jpeg\">a CBE circular (pdf)<\/a> issued later in the day yesterday. Companies can also make whatever cash withdrawals they need to \u201csatisfy obligations to employees.\u201d<\/li>\n<li><strong>In-branch c<\/strong><strong>ash<\/strong> withdrawals and deposits are now limited to EGP 10k per day for individuals;<\/li>\n<li><strong>ATM<\/strong> withdrawals and deposits are now capped at EGP 5k per day for individuals and companies alike;<\/li>\n<li><strong>Transactions related to letters of credit and of guarantee<\/strong> are exempt as are transactions by individuals \u201cwhose line of work includes depositing large sums of money regularly\u201d <a href=\"https:\/\/bit.ly\/3dCxMXc\">are also reportedly exempt<\/a>.<\/li>\n<li><strong>Deposits to satisfy credit card payments <\/strong>are also exempt.<\/li>\n<\/ul>\n<p><strong>There are no new limits on electronic transfers <\/strong>between accounts, whether they\u2019re held by individuals or companies. The central bank earlier ordered banks to slash to zero all fees for e-payments and transfers. <strong>Military-affiliated companies are entirely exempt <\/strong>from the new cash deposit and withdrawal caps.<\/p>\n<p><strong>Checks will also be subject to the cap.<\/strong> Take in an EGP 40k cheque, for example, and you can get EGP 10k in cash on the spot and the balance of EGP 30k in either (a) your bank account or (b) in three daily EGP 10k chunks.<\/p>\n<p><strong>The Egyptian Businessmen\u2019s Association wants exemptions <\/strong>from the decision, arguing in a <a href=\"https:\/\/ent.news\/2020\/3\/EBA.jpeg\">letter to the CBE<\/a> that limiting withdrawals will have a negative impact on businesses with high volumes of daily cash transactions.<\/p>\n<p><strong>The key word here is \u201ctemporary,\u201d we\u2019re told by a source familiar with the central bank\u2019s <\/strong><strong>thinking.<\/strong> The source added that the measures are specifically designed to help stem the transmission of the virus that causes covid-19.<\/p>\n<p><strong>Separately, the CBE will cover the cost of interbank ATM cash withdrawal fees<\/strong> for six mn pensioners for six months, <a href=\"https:\/\/www.egypttoday.com\/Article\/3\/83127\/CBE-to-pay-ATM-fees-for-pensioners-for-6-months\">according to Egypt Today<\/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\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570393\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570394\" 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=\"570394\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/30\/egypt-in-the-news-on-30-march-2020\/\">\r\n                            Egypt in the News on 30 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\/30\/egypt-in-the-news-on-30-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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a wide-ranging look at how Egypt is coping with covid-19 in <a href=\"https:\/\/www.haaretz.com\/middle-east-news\/egypt\/.premium-with-a-curfew-and-unreliable-coronavirus-toll-egyptians-face-a-cruel-ramadan-1.8721670\">Haaretz<\/a>; takes on the US-Egypt security <a href=\"https:\/\/www.jacobinmag.com\/2020\/03\/egypt-prison-state-client-mubarak-al-sisi\">relationship<\/a> post-Mubarak and on the crackdown on on <a href=\"https:\/\/www.telegraph.co.uk\/news\/2020\/03\/28\/egypt-considers-jailing-rappers-use-offensive-language-three\/\">mahraganat<\/a>; and <a href=\"https:\/\/qz.com\/africa\/1827558\/ethiopia-egypt-grand-dam-battle-has-roots-in-british-colonial-rule\/\">Quartz<\/a> has its two cents on the roots of the dispute over GERD.<\/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\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/media\/\">media<\/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=\"570398\" 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=\"570398\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/30\/the-market-yesterday-61\/\">\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\/30\/the-market-yesterday-61\/\" 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\/30\/the-market-yesterday-61\/')\">\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\/30\/the-market-yesterday-61\/\">\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\/30\/the-market-yesterday-61\/\">\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\/30\/the-market-yesterday-61\/&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%2F30%2Fthe-market-yesterday-61%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\/30\/the-market-yesterday-61\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570398\" class=\"content-area-description single-story post-570398 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 15.68 | Sell 15.81<\/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> (Sunday): 9,760 (-1.5%)<br \/>\n <strong>Turnover:<\/strong> EGP 391 mn (35% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -30.1%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session down 1.5%. CIB, the index\u2019s heaviest constituent, ended down 2.4%. EGX30\u2019s top performing constituents were Pioneers Holding up 1.7%, Orascom Investment Holding up 1.5%, and SODIC up 1.5%. Thursday\u2019s worst performing stocks were Orascom Development Egypt down 3.6%, CIRA down 3.5% and CIB down 2.4%. The market turnover was EGP 391 mn, and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -99.8 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -5.6 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +105.4 mn<\/p>\n<p><strong>Retail<\/strong>: 59.0% of total trades | 61.7% of buyers | 56.3% of sellers<br \/>\n <strong>Institutions<\/strong>: 41.0% of total trades | 38.3% of buyers | 43.7% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 21.51 (-4.82%)<\/p>\n<p><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)<\/p>\n<p><strong>Gold:<\/strong> USD 1,654.10 \/ troy ounce (-0.37%)<\/p>\n<p><strong>TASI:<\/strong> 6,376 (+0.79%) (YTD: -23.99%)<br \/>\n <strong>ADX:<\/strong> 3,878 (+2.87%) (YTD: -23.58%)<br \/>\n <strong>DFM:<\/strong> 1,832 (+1.28%) (YTD: -33.73%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,101 (-3.40%)<br \/>\n <strong>QE:<\/strong> 8,431 (-0.57%) (YTD: -19.13%)<br \/>\n <strong>MSM:<\/strong> 3,479 (-1.66%) (YTD: -12.59%)<br \/>\n <strong>BB: <\/strong>1,362 (-1.90%) (YTD: -15.39%)<\/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=\"570399\" 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\/30\/570399\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570399\" class=\"content-area-description single-story post-570399 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>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<\/a> for a lawsuit against Amer Group and Porto Group by Syria-based Antaradous for Touristic Development.<\/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>30 April (Thursday): <a href=\"https:\/\/bit.ly\/3atFT6l\">Court session<\/a> for a lawsuit against Amer Group and Porto Group by Syria-based Antaradous for Touristic Development.<\/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":570378,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-570377","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"219b0ead-08d1-4f00-82ad-5b4adb8ade0d","teaser":"","photo_url":"https:\/\/ent.news\/2020\/3\/332.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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