{"id":570447,"date":"2020-04-01T04:26:33","date_gmt":"2020-04-01T04:26:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=570447"},"modified":"2025-12-16T07:28:06","modified_gmt":"2025-12-16T07:28:06","slug":"cbe-to-leave-rates-on-hold-tomorrow-enterprise-poll","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-to-leave-rates-on-hold-tomorrow-enterprise-poll\/","title":{"rendered":"CBE to leave rates on hold tomorrow: Enterprise poll"},"content":{"rendered":"<section id=\"570449\" 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=\"570449\">\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\/04\/01\/what-were-tracking-on-01-april-2020\/\">\r\n                            What we\u2019re tracking on 01 April 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\/04\/01\/what-were-tracking-on-01-april-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have all the details in this morning\u2019s Speed Round, below.<\/p><p><strong>The government will also review petrol prices tomorrow <\/strong>or next Sunday at the latest, <a href=\"https:\/\/almalnews.com\/%d9%85%d8%b5%d8%af%d8%b1-%d8%ad%d9%83%d9%88%d9%85%d9%89-%d8%a7%d8%ac%d8%aa%d9%85%d8%a7%d8%b9-%d9%84%d8%ac%d9%86%d8%a9-%d8%aa%d8%b3%d8%b9%d9%8a%d8%b1-%d8%a7%d9%84%d8%a8%d9%86%d8%b2%d9%8a%d9%86-%d8%a7\/\">Al Mal<\/a><a href=\"https:\/\/almalnews.com\/%d9%85%d8%b5%d8%af%d8%b1-%d8%ad%d9%83%d9%88%d9%85%d9%89-%d8%a7%d8%ac%d8%aa%d9%85%d8%a7%d8%b9-%d9%84%d8%ac%d9%86%d8%a9-%d8%aa%d8%b3%d8%b9%d9%8a%d8%b1-%d8%a7%d9%84%d8%a8%d9%86%d8%b2%d9%8a%d9%86-%d8%a7\/\">reports<\/a>, citing unnamed government sources. Petrol prices are allowed to move up or down 10% when the committee meets every three months, moving in tandem with oil prices. The committee met for the first time last October and left prices unchanged at its January meeting.<\/p><p>News triggers triggers to keep your eye on as April starts.<\/p><ul>\n<li><strong>PMI figures for Egypt<\/strong>, Saudi Arabia and the UAE will land (doubtless with a thud) on Sunday, 5 April.<\/li>\n<li><strong>Foreign reserves figures<\/strong> for March will be released on or around Sunday, 5 April.<\/li>\n<li><strong>Inflation figures<\/strong> for March are due on Thursday, 9 April.<\/li>\n<\/ul><p><strong>The House of Representatives will review the Madbouly government proposed 2020-2021 <\/strong><strong>budget <\/strong>when MPs return from recess on 12 April, <a href=\"https:\/\/almalnews.com\/%D8%B1%D8%B3%D9%85%D9%8A%D8%A7-%D9%88%D8%B5%D9%88%D9%84-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%84\/\">Al Mal reports<\/a>. We had the <a href=\"https:\/\/enterprise.press\/#enterpriseand1-last-nights-talk-shows\">full report on the draft budget<\/a> and its targets yesterday.<\/p><p><strong>Two covid-19 trends to keep your eye on <\/strong>going forward:<\/p><ul>\n<li><strong>Will \u201cimmunity passports\u201d become a thing? <\/strong>Germany is planning to issue certificates to folks who have recovered from covid-19, allowing them to return to work and daily life \u2014 with all of the creepiness attendant to living in that kind of world. <a href=\"https:\/\/www.businessinsider.com\/coronavirus-germany-covid-19-immunity-certificates-testing-social-distancing-lockdown-2020-3\">Business Insider<\/a> and <a href=\"https:\/\/www.theguardian.com\/world\/2020\/mar\/30\/immunity-passports-could-speed-up-return-to-work-after-covid-19\">the Guardian<\/a> have more.<\/li>\n<li><strong>European hospitals are reporting <\/strong><strong><a href=\"http:\/\/www.euhalliance.eu\/2020\/03\/31\/university-hospitals-urgently-call-for-more-european-collaboration-to-prevent-drug-shortages\/?referringSource=articleShare\">shortages<\/a><\/strong><strong> of meds thanks to supply chain<\/strong> <strong>disruptions. <\/strong>We suspect disruption of the supply chain will be a theme across industries and around the world for several months after the crisis abates.<\/li>\n<\/ul><p><strong>Markets this morning: <\/strong>Asian markets are up as they approach mid-session at dispatch time \u2014 major indexes in Hong Kong, China and South Korea are all up, as are India, New Zealand and Australia. The exception: Japan. Futures currently point to a lower open for the Nasdaq, Dow and S&amp;P across the pond, while Europe is looking mixed right now.<\/p><p><strong>The EGX30 closed up 0.8% yesterday<\/strong> on moderately heavy trading, with total turnover coming in at 39% above the trailing 90-day average.<\/p><hr class=\"grey-line\"><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Egypt now has 710 confirmed cases of covid-19<\/strong> after the <a href=\"https:\/\/bit.ly\/341Y0OA\">Health Ministry reported<\/a> 54 new infections yesterday, all Egyptians. Five Egyptians were reported to have died of the disease, bringing total deaths in the country to 46. A total of 157 patients are now reported to have fully recovered, while another 205 appear to be on the path to recovery after having tested negative following treatment.<\/p><p><strong>Egypt\u2019s private airlines want a bailout package<\/strong>, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2BO92K\">Reuters<\/a> reports, saying Civil Aviation Minister Mohamed Enabah met yesterday with the heads of private carriers. A <a href=\"https:\/\/bit.ly\/342fOZN\">ministry statement<\/a> later said that the companies are asking for help to \u201cstop the bleeding \u2026 suffered by the private companies and help them overcome this crisis.\u201d <strong>The government has so-far been silent about any assistance it may be providing to EgyptAir<\/strong>, the national flag carrier. All international flights except cargo hauls are suspended until mid-April.<\/p><p><strong>They\u2019re not alone: <\/strong>Dubai has announced it will provide a bailout package to Emirates Air to keep the airline afloat, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-31\/emirates-to-get-equity-infusion-from-dubai-after-grounding-fleet\">Bloomberg reports<\/a>.<\/p><p><strong>Tourists who want to ride out covid-19 in Egypt can do so<\/strong>, the government signaled yesterday. Tour operators and hotels have been directed to work with the Interior Ministry to renew visas (the visa and passport office is otherwise closed for business at the moment under covid-19 restrictions). Tourists who want to stay will also need to be tested for the virus that causes covid-19, <a href=\"https:\/\/bit.ly\/2UwqDQQ\">Youm7 reports<\/a>.<\/p><p><strong>The state-owned Holding Company for Metallurgical Industries (<\/strong><strong><a href=\"https:\/\/mih.eg\/\">MIH<\/a><\/strong><strong>) is looking <\/strong><strong>to<\/strong><strong> manufacture ventilators<\/strong> after Minnesota-based Medtronic announced that it\u2019s putting the intellectual property behind its PB560 model into the public domain, <a href=\"https:\/\/bit.ly\/2R1ot9o\">MIH Chairman Medhat Nafea<\/a> said. <strong><a href=\"https:\/\/www.medtronic.com\/us-en\/e\/open-files.html?cmpid=vanity_url_medtronic_com_openventilator_Corp_US_Covid19_FY20\">Medtronic is making all design files for the PB560 model available to the public<\/a><\/strong><strong> on its website<\/strong><strong>.<\/strong><\/p><p><strong>Emergency fund for construction workers? <\/strong>The Real Estate Development Chamber is considering setting up an emergency fund for construction workers facing mandatory unpaid leave of they\u2019re furloughed to help slow the spread of covid-19, <a href=\"https:\/\/almalnews.com\/%d8%ba%d8%b1%d9%81%d8%a9-%d8%a7%d9%84%d8%aa%d8%b7%d9%88%d9%8a%d8%b1-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a-%d8%aa%d8%af%d8%b1%d8%b3-%d9%85%d9%82%d8%aa%d8%b1%d8%ad%d8%a7-%d8%a8%d8%a5%d9%86%d8%b4\/\">Al Mal reports<\/a>.<\/p><p><strong>Egypt should temporarily ban the export of food commodities and medical supplies<\/strong>, a group of MPs said yesterday, according to <a href=\"https:\/\/almalnews.com\/%d8%a7%d9%84%d8%a8%d8%b1%d9%84%d9%85%d8%a7%d9%86-%d9%8a%d8%b7%d8%a7%d9%84%d8%a8-%d8%a7%d9%84%d8%ad%d9%83%d9%88%d9%85%d8%a9-%d8%a8%d8%ad%d8%b8%d8%b1-%d8%aa%d8%b5%d8%af%d9%8a%d8%b1-%d9%83%d8%a7%d9%81\/\">Al Mal<\/a>.<\/p><p><strong>Price cuts on electricity for factories are now in effect. <\/strong>The cuts were part of the government\u2019s economic response to covid-19 and reduce prices for peak and offpeak times for medium, high and ultra-high voltage users. The price change was made official with its <a href=\"http:\/\/www.alamiria.com\/ar-eg\/archiving-service\/Pages\/decision-details.aspx?decisionID=162868\">publication<\/a> in the Official Gazette yesterday. Other moves to support industry announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1154689d-294f-4d45-95b4-84a76d67466c\">earlier last month<\/a> included lower natural gas prices for factories and the payout of EGP 1 bn in overdue arrears to exporters by no later than April.<\/p><p><strong>Egyptians have collectively sunk EGP 39.2 bn into 15% fixed-rate savings certificates<\/strong> launched by Banque Misr and the National Bank of Egypt in the 10 days since the certificates were offered, <a href=\"https:\/\/bit.ly\/33WCdHZ\">Masrawy reports<\/a>, citing unnamed banking officials.<\/p><p><strong>The MoH has <\/strong><strong><a href=\"https:\/\/bit.ly\/2WUM9QN\">set up two hotlines<\/a><\/strong><strong> to offer a friendly ear <\/strong>to folks suffering during the ongoing lockdown or from covid-related fear, anxiety or distress. The numbers: 080 888 0700 and (02) 2081-6831.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/LA-corona-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>GLOBAL STORY OF THE DAY: The Trump administration says 100k-240k people in <\/strong><strong>America could die of covid-19<\/strong> based on a model released overnight. The news dominates front pages in the global business press: <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-trump\/trump-warns-americans-of-a-tough-two-weeks-ahead-in-coronavirus-fight-idUSKBN21I3HK\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/ce4098c9-8d34-4036-9a84-ca40b0294b88\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/chinas-coronavirus-count-excluded-infected-people-with-no-symptoms-11585650226?mod=hp_lead_pos1\">WSJ<\/a>.<\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Global stocks wrap one of the worst quarters on record:<\/strong> US stocks have had their worst quarter since 2008 as a sell-off in late trading yesterday brought losses to 20% year-to-date. It was worse for the Dow Jones which experienced its largest quarterly sell-off since 1987 as the covid-19 pandemic put the market through a historic bout of turbulence. <a href=\"https:\/\/www.ft.com\/content\/16cb9153-1ab8-443e-b6cc-438dec1b856e\">The Financial Times<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-30\/asian-stocks-set-to-track-u-s-higher-dollar-gains-market-wrap?sref=mmeFTDW1\">Bloomberg<\/a> are both out with post-mortems.<\/p><p><strong>Believe it or not, there were actually two companies that held their heads above water in <\/strong><strong>the sea of red.<\/strong> Microsoft made it through unscathed by the closest of margins, closing up 0.00006% in the green for the quarter. The big winner though was Jeff Bezos, who saw Amazon\u2019s shares gain 5.43% over the three months as consumers threw money at emergency supplies and Slack and Zoom did the same for Amazon Web Services. <a href=\"https:\/\/www.cnbc.com\/2020\/03\/31\/amazon-microsoft-end-first-quarter-higher-as-tech-peers-fall.html\">CNBC has more<\/a>.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/ChinaPMI-Rencap1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>New PMI out of China suggests hopes for a v-shaped recovery may not be totally pie in <\/strong><strong>the sky:<\/strong> China\u2019s manufacturing purchasing managers\u2019 index (PMI) surged last month in the first sign that the economy could be making a speedy recovery after  several months of shutdown. <a href=\"http:\/\/data.stats.gov.cn\/english\/swf.htm?m=turnto&amp;id=1\">Figures released yesterday<\/a> by the National Bureau of Statistics showed manufacturing sector activity expanding after falling to an all-time low in February.<\/p><p><strong>Encouraging signs but the country has a long way to go, says Capital Economics:<\/strong> \u201cThis does not mean that output is now back to its pre-virus trend. Instead, it simply suggests that economic activity improved modestly relative to February\u2019s dismal showing, but remains well below pre-virus levels,\u201d said Julian Evans-Pritchard, senior China economist at Capital Economics, in a note <a href=\"https:\/\/www.reuters.com\/article\/us-china-economy-pmi-factory-official\/china-march-factory-activity-unexpectedly-expands-but-outlook-still-grim-idUSKBN21I05S\">picked up by Reuters<\/a>.<\/p><p><strong>Whatever the state of the Chinese economy, the figures helped to perk European stocks <\/strong><strong>\u2014 which closed out their worst first quarter on record:<\/strong> European stocks rallied yesterday after the PMI figures were released but still ended up clocking in their worst quarter since 2002, <a href=\"https:\/\/www.cnbc.com\/2020\/03\/31\/european-markets-set-to-open-higher-as-sentiment-buoyed-by-china-data.html\">CNBC reports<\/a>.<\/p><p class=\"web-image stand-out-borderless\"><a href=\"http:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/Marina-Web-1.png?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>And the dire economic predictions of the day go to S&amp;P Global Ratings and Goldman <\/strong><strong>Sachs,<\/strong> who are back to remind us how [redacted] we\u2019re going to be in the months ahead:<\/p><ul>\n<li><strong>S&amp;P Global Ratings has scaled back its 2020 global growth forecast to a dire 0.4%<\/strong> in light of the covid-19 outbreak\u2019s impact on global economies and markets, <a href=\"https:\/\/www.cnbc.com\/2020\/03\/31\/coronavirus-shock-is-pushing-global-growth-toward-zero-sp-says.html\">according to its chief economist Paul Gruenwald<\/a>. It\u2019s a drastic drop from the 3.3% estimated before the pandemic, and the forecast hasn\u2019t been seen since the 1982 economic crash which saw global growth calculated at 0.43%. Gruenwald also predicts a rebound to 4.9% in 2021.<\/li>\n<li><strong>Goldman Sachs has somehow managed to blacken its outlook for the US <\/strong><strong>economy even further:<\/strong> The investment bank is now predicting the US economy to contract by a stunning 34% in the second quarter, lower than its previous forecast of a 24% contraction, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-goldman\/goldman-sachs-slashes-u-s-gdp-estimate-further-idUSKBN21I235\">Reuters reports<\/a>. It also dropped its 1Q target to 9% from 6%, and sees unemployment reaching 15% by midyear instead of its previous 9% estimate.<\/li>\n<\/ul><p><strong>Saudi Arabia has begun to flood the market with ultra-cheap crude:<\/strong> Saudi Aramco is delivering on its promises to ramp up production to record levels and slash its prices in April, with tankers already on their way to Europe and the US, and several supertankers hired earlier this month to boost exports now loaded, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-31\/saudis-start-to-unleash-oil-wave-despite-u-s-political-pressure?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg says<\/a>.<\/p><p><strong>What is about to take place is going to have effects on the oil market for years to come:<\/strong> As Ben Sharples <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-31\/oil-s-apocalyptic-april-is-set-to-reverberate-for-years-to-come?srnd=premium-middle-east&amp;sref=mmeFTDW1\">writes for Bloomberg<\/a>: \u201cOil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.\u201d<\/p><p>In other international covid-19 news:<\/p><ul>\n<li><strong>Dubai imposed the UAE's first lockdown on its famous gold and spices market for <\/strong><strong>two weeks<\/strong>, expanding the partial curfew in place to curb the spread of the covid-19,<a href=\"https:\/\/ara.reuters.com\/article\/topNews\/idARAKBN21I1OF\">according to Reuters<\/a>.<\/li>\n<li><strong>Communities across Italy and Spain are starting to push back against lockdown<\/strong>, some out of desperation having depleted their resources and others just rebelling against the draconian restrictions, <a href=\"https:\/\/www.ft.com\/content\/eb81dc96-c2bd-4c1c-ac8a-bf88653b0b8d\">the Financial Times reports<\/a>.<\/li>\n<\/ul><div class=\"stand-out\">\n<p class=\"web-image\"><a href=\"https:\/\/www.youtube.com\/watch?v=gvcXkP9pZvI&amp;feature=youtu.be\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/Youssra-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>*** We\u2019ve never asked you for a penny<\/strong>, but we\u2019re doing so today \u2014 not to put a coin in our pocket, but to help the folks at the Breathe campaign raise funds to acquire ventilators the nation needs.<\/p>\n<p><strong>The Breathe Campaign is raising funds to purchase mechanical ventilators from <\/strong><strong>suppliers around the world.<\/strong> As the number of covid-19 cases rises in Egypt, so does the need for ventilators across the country. For critically ill patients, mechanical ventilation can be the difference between life and death \u2014 all of you reading Enterprise have seen the stories about shortages in developed economies including Italy and the United States. The Breathe Campaign, a pilot project by charity startup Humankind with the aid of the Egyptian Cure Bank, has created a star-studded campaign featuring public figures including Yosra, Amina Khalil and Naguib Sawiris simply inhaling and exhaling.<\/p>\n<p><strong>Keep up to date with the campaign on <\/strong><strong><a href=\"https:\/\/www.instagram.com\/thebreathecampaign\/\">Instagram<\/a><\/strong> and check out the ad (<a href=\"https:\/\/www.youtube.com\/watch?v=gvcXkP9pZvI&amp;feature=youtu.be\">watch, runtime:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=gvcXkP9pZvI&amp;feature=youtu.be\">1:08<\/a>).<\/p>\n<p><strong>Want to make a contribution? <\/strong>Hit up the <a href=\"https:\/\/www.egyptiancurebank.com\/donation\/monetary\/\">Egyptian Cure Bank<\/a>, Fawry or the FawryApp or check out the description section of the Youtube page for other options.<\/p>\n<\/div><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: Our exclusive sitdown with Amr and Hassan Allam, Co-CEOs of Hassan Allam Holding<\/strong>, the second in a two-part series on how the construction industry is managing the covid-19 crisis. The brothers spoke with us on the state of the sector during covid today, what can we expect on the long term, and what lessons or positive outcomes we can draw in a post-covid-19 world. Part one, <a href=\"https:\/\/enterprise.press\/hardhats\/egyptian-construction-sector-responding-covid-19-crisis-osama-bishai-ceo-orascom-construction\/\">which ran last week<\/a>, featured a sit-down with Orascom Construction CEO Osama Bishai.<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                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Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/01\/talk-shows-cover-covid-19-updates-pensions-and-home-made-ventilators\/\">\r\n                            Talk shows cover covid-19 updates, pensions, and home-made ventilators                        <\/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\/04\/01\/talk-shows-cover-covid-19-updates-pensions-and-home-made-ventilators\/\" target=\"_blank\">\n                    Open in new tab            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\n<article id=\"post-570451\" class=\"content-area-description single-story post-570451 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-central-bank-of-egypt tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-financial-regulatory-authority tag-madbouly-cabinet tag-medhat-nafea tag-nevine-el-qabbaj tag-social-welfare wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Pensions in the spotlight: <\/strong>Al Hayah Al Youm\u2019s Lobna Assal spoke with Social Solidarity Minister Nevine El Kabbaj who discussed efforts to reduce crowds as pensioners start heading to banks to collect their payments today. <strong>Day slots \u2014 from 1-9 April \u2014 have been assigned for each income bracket to limit footfall, she said.<\/strong> She added that the ministry is working on vetting its lists of irregular workers to ensure that they receive their economic relief stipends in April. She also discussed ongoing talks with the Financial Regulatory Authority to see if people with microloans can join those with bank loans in having their repayments frozen for six months <a href=\"https:\/\/www.youtube.com\/watch?v=TBLN8vjLYs4\">(watch, runtime: 12:38)<\/a>.<\/p>\n<p><strong>The rehabilitation of Ahmed Moussa continued last night as he held an extended interview with cabinet<\/strong> <strong>spokesman Nader Saad about fake news online:<\/strong> Fresh off of his extended interview with CBE Governor Tarek Amer and a chat with Finance Minister Mohamed Maait, Moussa talked to cabinet spokesman Nader Saad about certain rumors spreading online about the government\u2019s plans for combating covid-19.<\/p>\n<p><strong>Saad denied the government intends to extend the curfew hours or impose a nationwide lockdown<\/strong> and rejected claims that the entire banking system was about to shut down (<a href=\"https:\/\/www.youtube.com\/watch?v=-_Kg_xj-pqo&feature=youtu.be\">watch, runtime: 37:12<\/a>). Yahduth Fi Misr\u2019s Sherif Amer also spoke with Saad <a href=\"https:\/\/www.youtube.com\/watch?v=TErgoE9T0hs\">(watch, runtime: 0:57)<\/a>. Masaa DMC\u2019s Ramy Radwan <a href=\"https:\/\/www.youtube.com\/watch?v=XoZGfww_5SM\">(watch, runtime: 0:45)<\/a>, and Assal <a href=\"https:\/\/www.youtube.com\/watch?v=wTjNXYuZj_4\">(watch, runtime: 2:40)<\/a> also covered the issue of online fake news.<\/p>\n<p><strong>Daily covid-19 update: <\/strong>Masaa DMC\u2019s Ramy Radwan covered the Health Ministry\u2019s daily statement on covid-19, which yesterday reported 54 fresh cases and five more deaths, taking Egypt\u2019s total number of cases to 710 and the overall death toll to 46 <a href=\"https:\/\/www.youtube.com\/watch?v=5MOrLiXg6V8\">(watch, runtime: 3:05)<\/a>. Min Masr\u2019s Reham Ibrahim <a href=\"https:\/\/www.youtube.com\/watch?v=g0iyh5bw9rw\">(watch, runtime: 4:59)<\/a> also covered the statement.<\/p>\n<p><strong>Locally-made ventilators in the works: <\/strong>Ibrahim also spoke with the chairman of the board directors at the Holding Company for Metallurgical Industries, Medhat Nafea, who said that his company is already in the process of developing a prototype ventilator, after US-based medical devices company Medtronic made the design specifications for their patented PB560 ventilator publicly available yesterday <a href=\"https:\/\/www.youtube.com\/watch?v=SjNBnksI17M\">(watch, runtime: 8:15)<\/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\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/medhat-nafea\/\">Medhat Nafea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nevine-el-qabbaj\/\">Nevine El Qabbaj<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"570452\" 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=\"570452\">\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\/04\/01\/enterprise-poll-cbe-to-leave-rates-on-hold-in-april-meeting\/\">\r\n                            Enterprise Poll: CBE to leave rates on hold in April meeting                        <\/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\/04\/01\/enterprise-poll-cbe-to-leave-rates-on-hold-in-april-meeting\/\" 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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Ten of 11 analysts polled expect the bank to leave interest rates unchanged after slashing rates <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2e78eb3-6978-4eb5-a04f-a3b7247293ed\">300 bps in an emergency cut<\/a> barely two weeks ago. The bank said the move was \u201cpreemptive\u201d to support the economy through the covid-19 pandemic.<\/p>\n<p><strong>Where rates stand now:<\/strong> The CBE\u2019s overnight deposit rate is at 9.25% and the lending rate is at 10.25%. The main operation and discount rates are both at 9.75%.<\/p>\n<p><strong>The central bank\u2019s monetary policy committee has made clear that it\u2019s prepared to cut <\/strong><strong>rates if necessary:<\/strong> During the announcement of its biggest-ever rate cut on 16 March, the central bank said that it \u201cwill not hesitate\u201d to make further cuts if needed, a point <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34af0143-0a06-459e-b1ca-0a84f7560477\">reiterated earlier this week by Governor Tarek Amer<\/a>.<\/p>\n<p><strong>That time is not now, analysts say:<\/strong><\/p>\n<p><strong>Central bank to wait and see the effects of its emergency cut -EFG Hermes:<\/strong> The CBE will likely wait and see how the emergency rate cut impacts prices and how the rest of the world responds to the pandemic, Mohamed Abu Basha, chief MENA economist at EFG Hermes, told us. \u201cNothing has changed since [the emergency rate cut] and the government is gradually rolling out more measures to curb the spread of covid-19, but without taking drastic measures that could prompt the CBE to cut rates,\u201d he said.<\/p>\n<p><strong>Inflation could tick up in the coming months:<\/strong> HC Securities\u2019 Monette Doss expects the central bank to hold off on making another cut because of the likelihood of inflation increasing over the coming months. The hoarding of staples and pharma products prompted by the 7pm-6am curfew, potential production disruptions during the lockdown, and high demand during Ramadan will see annual inflation peak at 11.45% by December, she said. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14366c65-7c0c-43c2-9323-5220a775c9fa\">Inflation slowed from 7.2% in January to 5.3% in February<\/a>, outside the lower bound of the central bank\u2019s 9% (+\/-3%) target range.<\/p>\n<p><strong>\u201cCurrent risk levels also discourage further rate cuts,\u201d<\/strong> Doss said, noting the rise in Egypt\u2019s five-year credit default swap (CDS) spread and the demand for higher yields in the bond market. The price of five-year CDS (basically the cost of insuring Egypt\u2019s debt) surged to 650 bps from 258 bps in the third week of February, reflecting growing anxiety about the country\u2019s creditworthiness as well as nervousness on the part of investors over global developments. In the bond markets, yields in the primary market have only dipped slightly despite the CBE making a 300 bps rate cut.<\/p>\n<p><strong>The CBE won\u2019t want to give foreign investors more reason to dump bonds:<\/strong> The central bank will leave rates on hold to ease pressure on the EGP amid a sell-off in local-currency bonds, said Abou Bakr Imam, head of research at Sigma Capital. Leaving rates unchanged is probably not going to stop portfolio investors from selling, counters Ahmed Hafez, head of MENA research at Renaissance\u0630 Capital, who suggested outflows will continue until global markets stabilize.<\/p>\n<p><strong>Capital Economics takes the contrarian view:<\/strong> The firm, which last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53d1e2e8-e897-4e44-8499-fde0eecb01e1\">forecast the<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53d1e2e8-e897-4e44-8499-fde0eecb01e1\">economy to contract 1.3% this year<\/a>, thinks the CBE will go ahead with another rate cut tomorrow. \u201cWith central banks globally loosening policy further since [the emergency rate cut] and inflation pressures in Egypt under control, the CBE is likely to step up its policy support with another 100 bps cut in interest rates next week,\u201d said James Swanston, MENA economist at Capital Economics. \u201cAs the full extent of the damage becomes clearer, we expect an additional 125 bps of monetary policy easing over the coming months.\u201d<\/p>\n<p><strong>Don\u2019t expect the recent cut to spark a capex splurge:<\/strong> Mohamed Saad, equity analyst at Shuaa Capital, said that despite interest rates falling to pre-float levels, most businesses seeking credit are looking for short-term loans to maintain cash flow and keep their operations running.<\/p>\n<p><strong>It\u2019s a fine line for the CBE to walk <\/strong>in a time of global uncertainty: Cut rates and you do two things: <strong>Reduce the cost of borrowing for government<\/strong> (giving it more room for stimulus spending to keep the economy going \u2014 without completely nuking its budget deficit target) and <strong>encourage individuals and companies alike to put cash to work<\/strong> rather than letting it sit in bank accounts earning high interest. On the other hand, high interest rates keep Egypt attractive to the carry trade in a no-interest world.<\/p>\n<p><strong>No further cuts before the end of the year?<\/strong> Abu Basha, who originally forecast 200 bps of cuts through 2020, said it is unlikely that the central bank will make another rate cut until the end of the year.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570462\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570463\" 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=\"570463\">\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\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/01\/the-goats-are-reclaiming-wales\/\">\r\n                            The goats are reclaiming Wales                        <\/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\/04\/01\/the-goats-are-reclaiming-wales\/\" 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\/04\/01\/the-goats-are-reclaiming-wales\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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goats are reclaiming Wales\">\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+goats+are+reclaiming+Wales+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F01%2Fthe-goats-are-reclaiming-wales%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\/04\/01\/the-goats-are-reclaiming-wales\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/5.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570464\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/01\/the-goats-are-reclaiming-wales\/5-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/5.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"5.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/5.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/5.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570463\" class=\"content-area-description single-story post-570463 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-covid-19 tag-enterpriseam tag-image-of-the-day wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The goats are reclaiming Wales:<\/strong> A herd of goats invaded the seaside Welsh town of Llandudno yesterday as streets lay deserted under the government\u2019s covid-19 lockdown measures. <a href=\"https:\/\/www.theguardian.com\/uk-news\/gallery\/2020\/mar\/31\/mountain-goats-of-great-orme-hit-llandudno-in-pictures\">The Guardian has a full image gallery here.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/image-of-the-day\/\">IMAGE OF THE DAY<\/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=\"570465\" 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=\"570465\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/01\/egypt-in-the-news-on-1-april-2020\/\">\r\n                            Egypt in the News on 1 April 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\/04\/01\/egypt-in-the-news-on-1-april-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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-->\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\/04\/01\/egypt-in-the-news-on-1-april-2020\/&title=Egypt in the News on 1 April 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+1+April+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F01%2Fegypt-in-the-news-on-1-april-2020%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/01\/egypt-in-the-news-on-1-april-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570465\" class=\"content-area-description single-story post-570465 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-diplomacy tag-egypt-in-the-news tag-enterpriseam tag-journalism tag-national-security tag-nature tag-politics tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>No single story is dominating the conversation on Egypt this morning. <\/strong>Industry rag <a href=\"https:\/\/foreignpolicy.com\/2020\/03\/31\/egypt-us-military-aid-middle-east-trump-sisi-congress-death-mustafa-kassem-american-citizen-detained\/\">Foreign Policy<\/a> claims that the US is considering trimming back military assistance to Egypt at the behest of lawmakers, while the country\u2019s response to covid-19 are the subject of op-eds in the <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2020\/mar\/31\/egypt-coronavirus-transparency-sisi-crackdown\">the Guardian<\/a> and <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/03\/egyptian-superstitions-jokes-on-coronavirus.html\">Al Monitor<\/a>.<\/p>\n<p><strong>Distractions: <\/strong><a href=\"https:\/\/www.nytimes.com\/2020\/03\/29\/world\/middleeast\/egypt-circuses-lions-women.html?searchResultPosition=1\">The New York Times<\/a> features six Egyptian female lion tamers (five of whom are related) while the BBC has <a href=\"http:\/\/www.bbc.com\/travel\/story\/20200329-bahariya-and-farafra-egypts-bizarre-desert-landscape\">photo essay<\/a> on Bahariya and Farafra.<\/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\/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\/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\/journalism\/\">journalism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nature\/\">nature<\/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\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570469\" 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=\"570469\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/01\/the-market-yesterday-63\/\">\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 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<\/a>\r\n\r\n                \n<article id=\"post-570469\" class=\"content-area-description single-story post-570469 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> (Tuesday): 9,594 (+0.8%)<br \/>\n <strong>Turnover:<\/strong> EGP 834 mn (39% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -31.3%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session up 0.8%. CIB, the index\u2019s heaviest constituent, ended down 0.6%. EGX30\u2019s top performing constituents were Kima up 7.7%, Egyptian Resorts up 6.5%, and El Sewedy Electric up 4.4%. Yesterday\u2019s worst performing stocks were GB Auto down 2.6%, CIB down 0.6% and Credit Agricole down 0.2%. The market turnover was EGP 834 mn, and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -385.1 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -15.3 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +400.4 mn<\/p>\n<p><strong>Retail<\/strong>: 37.1% of total trades | 38.8% of buyers | 35.5% of sellers<br \/>\n <strong>Institutions<\/strong>: 62.9% of total trades | 61.2% of buyers | 64.5% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 20.30 (+1.05%)<br \/>\n <strong>Brent:<\/strong> USD 22.74 (-0.09%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.66 MMBtu, (-1.83%, May 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,591.90 \/ troy ounce (-3.12%)<\/p>\n<p><strong>TASI:<\/strong> 6,505 (+2.07%) (YTD: -22.46%)<br \/>\n <strong>ADX:<\/strong> 3,734 (-0.25%) (YTD: -26.42%)<br \/>\n <strong>DFM:<\/strong> 1,771 (-1.02%) (YTD: -35.93%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,198 (+1.61%)<br \/>\n <strong>QE:<\/strong> 8,207 (-0.91%) (YTD: -21.28%)<br \/>\n <strong>MSM:<\/strong> 3,448 (-0.55%) (YTD: -13.39%)<br \/>\n <strong>BB: <\/strong>1,350 (-0.36%) (YTD: -16.12%)<\/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=\"570470\" 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\/04\/01\/570470\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570470\" class=\"content-area-description single-story post-570470 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): Western 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): Earliest date on which suspension K-12 and university instruction is set to be lifted.<\/p>\n<p>15 April (Wednesday): Suspension of international flights to \/ from Egypt expires.<\/p>\n<p>15 April (Wednesday): Earliest date by which restaurants, gyms, nightclubs, museums and archaeological sites will reopen.<\/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>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>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":570448,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-570447","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c94febe0-dd31-436f-a76d-f719a4bfa94c","teaser":"","photo_url":"https:\/\/ent.news\/2020\/4\/1.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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