{"id":570517,"date":"2020-04-05T04:26:04","date_gmt":"2020-04-05T04:26:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=570517"},"modified":"2025-12-16T07:30:31","modified_gmt":"2025-12-16T07:30:31","slug":"covid-infections-surge-to-1070-govt-says-more-stringent-measures-in-the-works-but-stops-short-of-lockdown","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/covid-infections-surge-to-1070-govt-says-more-stringent-measures-in-the-works-but-stops-short-of-lockdown\/","title":{"rendered":"Covid infections surge to 1,070; gov\u2019t says \u201cmore stringent\u201d measures in the works, but stops short of lockdown"},"content":{"rendered":"<section id=\"570519\" 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=\"570519\">\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\/05\/what-were-tracking-on-5-april-2020\/\">\r\n                            What we\u2019re tracking on 5 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\/05\/what-were-tracking-on-5-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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The Monetary Policy Committee\u2019s Thursday decision was in line with expectations from our poll last week, in which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8926ffc6-5b95-4fc2-8d37-7ca3c9cb4420\">10 of 11 analysts expected<\/a> the committee to pause and assess the effect of its dramatic cut before using up more of its arsenal. We have chapter and verse in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>It\u2019s PMI day<\/strong> \u2014 buckle up, folks, as March\u2019s PMI figures for Egypt, Saudi Arabia and the UAE drop (literally and figuratively) this morning at 06:15 CLT. <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases\">You can find it here when it\u2019s out.<\/a><\/p>\n<p><strong>Foreign reserve figures for March should also be out today<\/strong>, while inflation figures for March land on Thursday, 9 April.<\/p>\n<p><strong>A couple of things before we get underway this morning. <\/strong>People smarter than us (<a href=\"https:\/\/www.nytimes.com\/2020\/04\/01\/opinion\/notes-on-the-coronacoma-wonkish.html\">such as<\/a><a href=\"https:\/\/www.nytimes.com\/2020\/04\/01\/opinion\/notes-on-the-coronacoma-wonkish.html\">this guy<\/a>) have thoughts about how bad the economy is now, how bad it could get, and what governments around the world should do now. But a couple of us were talking it through recently and we are \u2014 so far \u2014 very cautiously optimistic that the recovery on the other side, while painful, could be faster than many think right now. Unlike in past crises, there has not yet been destruction of capital. There\u2019s been no destruction of financial intermediaries. And no destruction of the labor force.<\/p>\n<p><strong>THINGS TO READ while you guzzle enough coffee<\/strong> to trudge to your home office:<\/p>\n<ul>\n<li><strong>CIB\u2019s Hisham Ezz Al-Arab reminds us that many <\/strong><strong>Egyptian businesses already have the crisis management skills they need<\/strong> to weather this storm \u2014 lessons we all learned in 2011. (<a href=\"https:\/\/www.euromoney.com\/article\/b1l16bmdyqq3v7\/lessons-from-a-revolution-egypts-cib-ready-to-fight-covid-19\">Euromoney<\/a>)<\/li>\n<li><strong>The US has called for everyone to wear cloth face masks in public. <\/strong>Here\u2019s <a href=\"https:\/\/www.dropbox.com\/s\/6ua7j979dbqb045\/masks_final_n_HF_NA.pdf?dl=0\">why<\/a><a href=\"https:\/\/www.dropbox.com\/s\/6ua7j979dbqb045\/masks_final_n_HF_NA.pdf?dl=0\">that\u2019s a good idea (pdf)<\/a>, and here are two masks you can easily make at home \u2014 <a href=\"https:\/\/www.youtube.com\/watch?time_continue=9&v=3hcSCgAD8f8&feature=emb_logo\">one super-quick<\/a>, the other that will take only a bit more time, but that offers <a href=\"https:\/\/ragmask.com\">more complete protection<\/a>.<\/li>\n<li><strong>Remember the immunity passports we suggested might become a thing? <\/strong>The Italians are well ahead of the Germans, it turns out. (<a href=\"https:\/\/www.nytimes.com\/2020\/04\/04\/world\/europe\/italy-coronavirus-antibodies.html\">New York Times<\/a>)<\/li>\n<li><strong>We\u2019ve said it before, we\u2019ll say it again: Stop trying to be productive when you\u2019re <\/strong><strong>not on the clock. <\/strong>Don\u2019t believe the <a href=\"https:\/\/www.nytimes.com\/2020\/04\/01\/style\/productivity-coronavirus.html\">New York Times<\/a>? Try this tweet, which <a href=\"https:\/\/twitter.com\/RampCapitalLLC\/status\/1246250469720293378\/photo\/1\">spoke for us this weekend<\/a>.<\/li>\n<li><strong>Thoughts on why it feels like time is dragging<\/strong>, making weeks feel like months. (<a href=\"https:\/\/www.thestar.com\/news\/canada\/2020\/04\/04\/the-covid-19-time-warp-why-it-feels-like-time-has-slowed-during-this-pandemic.html\">Toronto Star<\/a>)<\/li>\n<\/ul>\n<p><strong>COVID-19 IN EGYPT-<\/strong><\/p>\n<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Egypt\u2019s total number of covid-19 cases officially broke the 1,000 barrier over the <\/strong><strong>weekend.<\/strong> The country recorded 291 new cases and 19 deaths between <a href=\"https:\/\/bit.ly\/2UJh7de\">Thursday<\/a> and <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/148535836697037\">Saturday<\/a>, bringing our <strong>total tally to 1,070 as of last night<\/strong>, the Health Ministry said. <a href=\"https:\/\/bit.ly\/2UHjeOm\">Friday<\/a> alone saw 120 new recorded cases \u2014 the biggest one-day leap since the beginning of the outbreak. We now have a total of 306 people who have tested negative for the virus, of whom 241 have fully recovered.<\/p>\n<p><strong>The new milestone is expected to make it significantly more difficult to contain the <\/strong><strong>outbreak<\/strong> and the number of infections is expected to increase exponentially from this point through community spread, Cabinet\u2019s crisis management head Mohamed Abdel Maksoud said in an interview with Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=_HoSHdG2N84\">watch, runtime: 15:33<\/a>).<\/p>\n<p><strong>A hard lockdown isn\u2019t in the works yet: <\/strong>The government is prepared to impose more stringent measures to flatten the curve if the situation continues to deteriorate, Information Minister Osama Heikal said on Sada Al Balad on Friday (<a href=\"https:\/\/www.youtube.com\/watch?v=MaCPMWvUP3A\">watch, runtime: 04:48<\/a>). The minister said yesterday that <strong>a hard lockdown will only come into effect if we reach the point of 1,000 new infections per day<\/strong>. We have more on this in Last Night\u2019s Talk Shows, below.<\/p>\n<p><strong>Despite the growth in cases, Egypt is still faring well in the face of the outbreak in <\/strong><strong>comparison to other countries<\/strong>, Ittihadiya spokesman Bassam Rady said yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=ngR5oS0O288\">watch, runtime: 2:44<\/a>). Rady attributed the relatively contained situation to preemptive measures the government implemented before the virus spread rapidly in the country.<\/p>\n<p><strong>Seventeen doctors and nurses at the National Cancer Institute have tested positive for <\/strong><strong>covid-19<\/strong>, <a href=\"https:\/\/bit.ly\/2x6JVDl\">Masrawy reports<\/a>. Those who tested positive have since been quarantined, the Doctors\u2019 Syndicate , and the institute will be sanitized before being reopened to patients. <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/medics-egypts-main-cancer-center-test-positive-virus-69973780\">The Associated Press<\/a> also had the story, and we have more in Last Night\u2019s Talk Shows, below.<\/p>\n<p><strong>No \u201cmercy tables\u201d this year:<\/strong> The Religious Endowments Ministry has banned privately produced \u201cmercy tables\u201d that feed the nation\u2019s poor during this year\u2019s Ramadan and has asked charity organizations and private citizens alike to instead distribute food packages or cash donations to the poor, <a href=\"https:\/\/bit.ly\/39F7NuP\">according to a cabinet statement<\/a>.<\/p>\n<p><strong>No pre-Easter services in church:<\/strong> The Coptic Orthodox Church will not be holding masses preceding Easter celebrations this month, <a href=\"https:\/\/www.elwatannews.com\/news\/details\/4682371\">El Watan reports<\/a>. The Church had suspended masses and other activities in churches across the country last month. <a href=\"https:\/\/news.yahoo.com\/egypt-coptic-church-suspends-easter-holy-week-services-205206237.html\">AFP also has the story<\/a>.<\/p>\n<p><strong>Court hearings have been suspended until 16 April<\/strong> in another effort to minimize crowding in a single place, Justice Minister Omar Marwan said on Egypt\u2019s Channel One (<a href=\"https:\/\/youtu.be\/Kvcmv4Ffino\">watch, runtime: 05:55<\/a>). All scheduled court sessions will be postponed to a later date. The suspension excludes administrative work but courts have reduced the number of employees as a precaution.<\/p>\n<p><strong>Gov\u2019t pulling together state healthcare system ahead of infection peak: <\/strong>The government is working on a plan to make full use of its healthcare infrastructure by relying on teaching hospitals under the Higher Education Ministry\u2019s purview and other hospitals under the Health Ministry\u2019s jurisdiction, Prime Minister Moustafa Madbouly <a href=\"https:\/\/bit.ly\/2V6ooT6\">said on Thursday<\/a>. The plan would give all governorates across the country enough hospitals to handle covid-19 cases as they come, Madbouly said.<\/p>\n<p class=\"web-image\"><a href=\"https:\/\/ent.news\/2020\/4\/2020-03-29_EG_Mobility_Report_en.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/Google-monitor-Egypt-March2020-1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/a><\/p>\n<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>Egyptians are starting to pay attention to social distancing: <\/strong><a href=\"https:\/\/ent.news\/2020\/4\/2020-03-29_EG_Mobility_Report_en.pdf\">Data released by Google over<\/a><a href=\"https:\/\/ent.news\/2020\/4\/2020-03-29_EG_Mobility_Report_en.pdf\">the weekend (pdf)<\/a> suggests an increasing number of Egyptians are taking social distancing measures seriously. The data, based on Google\u2019s tracking of the location of many who use its services, found:<\/p>\n<ul>\n<li>Time spent at home is up 15% nationwide;<\/li>\n<li>The number of people traveling to work dropped 35%;<\/li>\n<li>Footfall in Egypt\u2019s retail and recreational outlets is down 50% since the middle of March;<\/li>\n<li>Use of transportation hubs is down 52%;<\/li>\n<li>Footfall in grocery stores and pharmacies is down 24%.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.google.com\/covid19\/mobility\/\">You can play with Google\u2019s gadget here<\/a> to see how other countries are doing.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Marsa Alam hotels are serving as quarantine centers for Egyptians returning home from <\/strong><strong>the United States<\/strong>, according to <a href=\"https:\/\/bit.ly\/2UHvq1J\">Youm7<\/a>. 310 returnees are already in quarantine there, and another flight is due to land today from Washington.<\/p>\n<p><strong>GOOD POLICY: <\/strong>We heard on Thursday and over the weekend from a number of members of the community who agree with Hassan Allam co-CEO Hassan Allam that the government should postpone tax filing and payment deadlines for businesses of all sizes to later this year. The suggestion mirrors moves in countries including the United States and Canada.<\/p>\n<p><strong>GOOD POLICY: <\/strong>Saudi Arabia is going to subsidize salaries for struggling companies to avert layoffs under a package that would benefit 1.2 mn Saudi nationals, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-03\/saudi-arabia-to-guarantee-salaries-to-support-virus-hit-firms?srnd=premium-middle-east&sref=mmeFTDW1\">according to Bloomberg<\/a>, which notes that \u201cbusiness owners can request monthly compensation amounting to 60% of the employee\u2019s salary for the next three months.\u201d<\/p>\n<p><strong>BAD POLICY: The latest bright idea from our illustrious representatives: Legally enforced <\/strong><strong>donations.<\/strong> Al Wafd Party leader and House Legislative Committee head Bahaa Abou Shoka plans to draft a bill that would require all citizens who earn more than EGP 5k per month to donate a portion of their monthly income to the Tahya Misr Fund, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=04042020&id=6a30561b-365c-4e4c-8525-86cd6a745848\">according to Al Shourouk<\/a>. Abou Shoka\u2019s plan would impose a tiered system where those earning EGP 5k per month would donate 5% of their income, those earning EGP 10k would donate 10%, those earning EGP 15k would donate 15%, and those earning over EGP 20k would be required to contribute 20% of their monthly earnings.<\/p>\n<p><strong>Gov\u2019t to add to stockpiles of staple goods:<\/strong> The government is looking to increase the country\u2019s strategic commodity reserves to be sufficient for a six-month period to protect against possible food supply shortages, Prime Minister Moustafa Madbouly said in a televised address on Thursday, <a href=\"https:\/\/bit.ly\/2w9YrJU\">according to a cabinet statement<\/a>. Egypt currently has at least three months\u2019 worth of staple goods in reserve, he said. The announcement came a few days after President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98e40e9e-f1ee-41cc-9fd5-a557c3183502\">urged<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98e40e9e-f1ee-41cc-9fd5-a557c3183502\">ministers<\/a> to add to the country\u2019s existing reserves.<\/p>\n<p><strong>Is the virus beginning to weigh on Egypt\u2019s wheat tenders?<\/strong> In an unusual move, Egypt canceled a wheat tender within hours of announcing it late last week without giving a reason, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-02\/egypt-cancels-wheat-tender-as-virus-supply-risks-spook-traders?sref=mmeFTDW1\">Bloomberg reports<\/a>. State grain buyer GASC reportedly included a new clause requiring suppliers to replace any shipments impacted by covid-19 transport restrictions with wheat from elsewhere, and to bear the cost. This in turn reportedly prompted concerns from some suppliers, which could have led to a lower turnout or offers at higher prices, traders said.<\/p>\n<p><strong>Health Minister Hala Zayed landed in Italy yesterday with a donation of medical supplies<\/strong> as a gesture of goodwill, <a href=\"https:\/\/bit.ly\/39Fd0TH\">Masrawy reports<\/a>. The minister had similarly traveled to China with medical supplies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a689544c-8981-45a3-a2eb-8ef072b60b2f\">last month<\/a>.<\/p>\n<p><strong>The World Bank is releasing USD 7.9 mn in emergency funds to Egypt to help it <\/strong><strong>battle covid-19<\/strong>, as part of a USD 14 bn in immediate funds it is disbursing to combat the spread of the virus in developing countries, <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2020\/04\/02\/egypt-world-bank-provides-us79-million-in-support-of-coronavirus-covid-19-emergency-response\">the bank said in a statement<\/a>. The funds will be issued under a larger USD 160 bn support package to vulnerable communities and businesses impacted by the crisis.<\/p>\n<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\/4\/Diving-Web.png?ssl=1\" alt=\"enterprise\" \/><\/a><\/p>\n<p><strong>ON THE GLOBAL FRONT-<\/strong><\/p>\n<p><strong>The global tally of covid-19 cases has surpassed 1 mn<\/strong>, while the death toll is currently at around 53k, <a href=\"https:\/\/www.bbc.com\/news\/world-52144390\">BBC reports<\/a>, citing official figures from Johns Hopkins University. Over 210k have recovered, the university\u2019s figures show. <strong>The US has now become the epicenter of the pandemic<\/strong>, reporting over 1k new cases on Thursday alone. New York, Detroit, and New Orleans are still expected to peak in about a week, President Donald Trump <a href=\"https:\/\/www.wsj.com\/articles\/governments-around-the-world-intensify-measures-to-battle-coronavirus-pandemic-11585993977?mod=hp_lead_pos1\">said yesterday<\/a>.<\/p>\n<p><strong>Dubai has moved to a hard lockdown for two weeks<\/strong>, <a href=\"https:\/\/twitter.com\/DXBMediaOffice\/status\/1246483011895537665?ref_src=twsrc%5Etfw\">the emirate\u2019s media office tweeted<\/a>. The UAE also indefinitely extended its curfew, which was set to expire today, <a href=\"https:\/\/ara.reuters.com\/article\/topNews\/idARAKBN21M0EF\">Reuters reported<\/a>. Only one member of each household will be allowed to leave their homes at a time, and then only to buy food or seek medical attention. <strong><a href=\"https:\/\/mediaoffice.ae\/news\/2020\/Apirl\/04-04\/Dubai-to-conduct-round-the-clock-sterilisation\">You can read the full details of Dubai\u2019s lockdown here.<\/a><\/strong><\/p>\n<p><strong>Fresh Saudi-Russia rift may dash prospects for oil market recovery: <\/strong>An Opec+ meeting that was scheduled to take place tomorrow was pushed by \u201cat least\u201d a few days as Saudi and Russia continue to butt heads over who\u2019s to blame for the oil market crash, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-04\/saudi-arabia-says-putin-s-comments-on-opec-deal-is-incorrect?sref=mmeFTDW1\">reports Bloomberg<\/a>, quoting an anonymous delegate familiar with the matter. Oil prices surged towards the end of last week, gaining nearly 50% on Thursday and at least 12% on Friday after The Donald <a href=\"https:\/\/twitter.com\/realDonaldTrump\/status\/1245720677660925952\">took to Twitter<\/a> to hint at a Saudi-Russia agreement and optimistically forecast production cuts of up to <a href=\"https:\/\/twitter.com\/realDonaldTrump\/status\/1245726411526221824?s=20\">15 mn bbl \/ d<\/a> \u2014 a claim <a href=\"https:\/\/www.themoscowtimes.com\/2020\/04\/02\/kremlin-denies-putin-spoke-to-saudi-crown-prince-a69850\">later denied by the Kremlin<\/a> \u2014 and the Saudi government called for the now-postponed Monday meeting to negotiate the way forward.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>\u2018Great Depression\u2019 is starting to appear in headlines with alarming regularity: <\/strong>IMF head Kristina Georgieva was back to sounding the alarm on the trajectory of the current economic upheaval, calling it \u201cworse than the global financial crisis,\u201d and a situation unlike anything seen in the financial institution's history. While economies have come to a virtual standstill on lockdown orders from governments looking to control the spread of covid-19, mns of jobs have been lost and capital has evaporated from emerging markets. <a href=\"https:\/\/www.ft.com\/content\/19d2e456-0943-42fc-9d2d-73318ee0f6ab\">The FT<\/a> and <a href=\"https:\/\/www.cnbc.com\/2020\/04\/03\/coronavirus-way-worse-than-the-global-financial-crisis-imf-says.html\">CNBC<\/a> have more on Georgieva\u2019s comments.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Zoom is under fire over privacy and security concerns<\/strong> after users reported several incidents of hackers hijacking video conferences, <a href=\"https:\/\/www.wsj.com\/articles\/zoom-ceo-i-really-messed-up-on-security-as-coronavirus-drove-video-tools-appeal-11586031129?mod=hp_lead_pos5\">according to the Wall Street Journal.<\/a> The app, whose popularity has soared to 200 mn meetings after the covid-19 outbreak from 10 mn meetings last year, has pledged to enforce better end-to-end encryption, but says the feature \u201cwon\u2019t be ready for a few months.\u201d<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>*** PSA:<\/strong> Flat6Labs will this Tuesday hold a StartSmart webinar featuring global investor Chris Schroeder and Sawari and Flat6Labs co-founder Hany Al Sonbaty to discuss how startups can survive and thrive during the covid-19 pandemic. You can register for the session <a href=\"https:\/\/flat6labs.zoom.us\/webinar\/register\/7215858391206\/WN_HCLmHg1UTpiz8OgKko_r_Q\">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\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-w6fkd39\" data-v=\"4\" data-block-id=\"w6fkd39\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-w6fkd39-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-w6fkd39-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"570521\">\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\/04\/05\/covid-19-updates-continue-to-top-coverage-on-egypts-talk-shows\/\">\r\n                            Covid-19 updates continue to top coverage on Egypt\u2019s talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n       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                   \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\/05\/covid-19-updates-continue-to-top-coverage-on-egypts-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570521\" class=\"content-area-description single-story post-570521 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-central-bank-of-egypt tag-construction tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-health-ministry tag-national-cancer-institute tag-osama-heikal tag-palm-hills-developments wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Daily case rundown from the Health Ministry:<\/strong> Masaa DMC\u2019s Eman El Hosary and Min Masr\u2019s Amr Khalil recapped the Health Ministry\u2019s daily covid-19 update, which reported 85 new cases and five new deaths yesterday. A total of 25 individuals have been released from the hospital, pushing up the number of recoveries to 241 <a href=\"https:\/\/www.youtube.com\/watch?v=BzK_UL9snKI\">(watch, runtime: 1:34<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=kxCWUejKqJo\">runtime: 2:14<\/a>).<\/p>\n<p><strong>Full lockdown will only be imposed once we hit 1k cases per day, Heikal says:<\/strong> With more than 1,000 cases within 48 days, the trajectory of covid-19 infections is still a relatively muted curve, and hasn\u2019t seen any sudden or major spikes, Information Minister Osama Heikal told Al Kahera Alaan\u2019s Lamees El Hadidi. The government is ready to impose a hard lockdown if the infection rate reaches 1,000 per day \u2014 which he noted would effectively grind the economy to a complete halt \u2014 but that we\u2019re not at that point yet (<a href=\"https:\/\/www.youtube.com\/watch?v=r1YB72HOQwk\">watch, runtime: 10:13<\/a>).<\/p>\n<p><strong>Investigation into cancer institute outbreak:<\/strong> Authorities are investigating the infection of 17 members of the National Cancer Institute\u2019s medical staff members, and have so far tested 413 individuals who were in contact with the infected cases, Higher Education Minister Khaled Abdel Ghaffar told El Hekaya\u2019s Amr Adib. A total of 500 people will be tested. The vast majority of those infected were asymptomatic, making it difficult to determine where the outbreak originated, Abdel Ghaffar said (<a href=\"https:\/\/www.youtube.com\/watch?v=wTmeioty1uE\">watch, runtime: 2:11<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=lmFV0bSXv9U\">runtime: 3:03<\/a>).<\/p>\n<p><strong>Construction work is resuming, but not without precautions:<\/strong> Construction workers are getting back to work at lower capacities than usual to prevent an outbreak of covid-19, Palm Hills Developments Chairman Yassin Mansour said in a phone-in with El Hadidi. He slammed previous calls to resume work as normal across all industries, saying that such a move would actually bring greater disruption to the economy with a spike in deaths. Mansour also called on the government to provide companies with test kits to use at their own expense (<a href=\"https:\/\/www.youtube.com\/watch?v=g2WWlmTyZ-k\">watch, runtime: 6:23<\/a>).<\/p>\n<p><strong>Egypt could follow Germany\u2019s model of mass testing to minimize the death rate from the virus by allowing for early intervention<\/strong>, businessman Tamer Wagih told Adib. Wagih pointed to testing kits that produce results within five minutes and with 90% accuracy as a feasible option for Egypt to use on a large scale (<a href=\"https:\/\/www.youtube.com\/watch?v=QbeOoDCa_Vs\">watch, runtime: 7:32<\/a>).<\/p>\n<p><strong>In (kind of) non-covid news: <\/strong>Min Masr\u2019s Amr Khalil took note of the Central Bank of Egypt\u2019s decision to expand its EGP 100 bn industry initiative. We have the full story in this morning\u2019s Speed Round, below (<a href=\"https:\/\/www.youtube.com\/watch?v=5ufxud2yeKk\">watch, runtime: 0:43<\/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\/construction\/\">construction<\/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\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-cancer-institute\/\">National Cancer Institute<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-heikal\/\">Osama Heikal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/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=\"570522\" 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=\"570522\">\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\/05\/central-bank-of-egypt-leaves-rates-on-hold-in-first-meeting-after-record-cut\/\">\r\n                            Central Bank of Egypt leaves rates on hold in first meeting after record cut                        <\/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\/05\/central-bank-of-egypt-leaves-rates-on-hold-in-first-meeting-after-record-cut\/\" 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 central bank left the overnight deposit rate at 9.25% and the lending rate at 10.25%, while the main operation and discount rates remain at 9.75%, the bank <a href=\"https:\/\/ent.news\/2020\/4\/MPC-Press-Release-April-02-2020.pdf\">said in a statement (pdf)<\/a>. <\/p>\n<p><strong>This is what analysts had predicted:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8926ffc6-5b95-4fc2-8d37-7ca3c9cb4420\">Ten of 11 analysts we surveyed<\/a> ahead of the meeting expected the central bank to hold off on further easing for the time being, citing uncertainty over the trajectory of inflation and a deterioration of the carry trade amid accelerating capital flight from emerging markets.<\/p>\n<p><strong>What the CBE said:<\/strong> \u201cThe MPC decided that keeping key policy rates unchanged remains consistent with achieving the inflation target of 9% (+\/-3%) in 4Q2020 and price stability over the medium term,\u201d the bank said. <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2BQ6WG\">Reuters<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-02\/egypt-holds-rates-to-keep-debt-in-demand-amid-markets-sell-off?sref=mmeFTDW1\">Bloomberg<\/a> also had the story.<\/p>\n<p><strong>The door is still open for further cuts:<\/strong> The CBE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34af0143-0a06-459e-b1ca-0a84f7560477\">reiterated<\/a> that it \u201cwill not hesitate to utilize all available tools\u201d to support the economy.<\/p>\n<p><strong>\u201cThe MPC\u2019s decision, which was in line with our expectations, came on the back of <\/strong><strong>supportive inflation rate readings<\/strong> that allowed for an exceptional 300 bps rate cut,\u201d said Beltone\u2019s Alia Mamdouh. \u201cWe maintain our average inflation expectations of 6.5%, which should keep headline inflation rates within the CBE\u2019s target range.\u201d<\/p>\n<p><strong>Inflation likely to tick up on covid and Ramadan spending: <\/strong>Mohamed Saad, equity analyst at Shuaa Securities, forecasts inflation to rise marginally to 5-7% over the coming months as consumers hoard goods and spend big for Ramadan. Expectations that the government will provide further relief to businesses and consumers by lowering fuel costs will help to keep prices within the CBE\u2019s target range, he said.<\/p>\n<p><strong>Falling EGP will give the central bank more room for manoeuvre -Capital Economics: <\/strong>James Swanston, MENA economist at Capital Economics, warned that Egypt\u2019s current account deficit will begin to widen if the EGP maintains its current rate and urged the central bank to let the currency slide against the greenback. \u201cWe expect the central bank will loosen its grip on the EGP and, if this is done soon, there is unlikely to be a sharp fall in the currency and inflation should remain in check. This would allow interest rates to be cut further to support activity.\u201d<\/p>\n<p><strong>Enter Sigma\u2019s Abou Bakr Imam with the counterpoint<\/strong>, who said that it is unlikely that the central bank is actively propping up the EGP, saying he thinks demand for hard currency has fallen as imports have slowed.<\/p>\n<p><strong>The EGP remained steady at 15.68 against the greenback on Thursday.<\/strong> The currency has fallen only 21 piasters since its peak in late February, and has fluctuated between 15.68-15.69 for the past two weeks.<\/p>\n<p><strong>Make a long-term policy prediction at your peril:<\/strong> Pharos\u2019 head of research Radwa El Swaify, who has the central bank maintaining rates through to the end of the year as a base case, said that it is becoming more difficult to predict how policymakers will act as the known unknowns continue to swirl. \u201cSo many changes can happen in nine months, especially with growth and inflation, you cannot judge it now. There are so many unknowns at this point,\u201d she said.<\/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\/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=\"570534\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570535\" 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=\"570535\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/an-emerging-market-credit-crisis-is-looming-in-spite-of-the-feds-repo-facility\/\">\r\n                            An emerging market credit crisis is looming in spite of the Fed\u2019s repo facility                        <\/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\/05\/an-emerging-market-credit-crisis-is-looming-in-spite-of-the-feds-repo-facility\/\" 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 scale of the pandemic has triggered widespread funding pressures despite many countries now having more tools to withstand economic shocks than ever before, including heftier FX reserves and more local investors. EMs saw the biggest USD exodus since 2008 last month after investors pulled some USD 31 bn out of EM debt funds, while USD borrowing costs have risen to levels not seen since 2007-08 and the collapse in trade and commodity prices has shrunk USD supply.<\/p>\n<p><strong>EMs were already in a more precarious situation than anyone might have realized:<\/strong> Overall, EM overseas debt had already reached 35% of GDP (without counting China) at the end of 2018. And in frontier markets, the overall debt burden reached a record USD 3.2 tn last year. But a recently-published paper by US academics <a href=\"https:\/\/www.ft.com\/content\/4aaa1a68-1d5a-4425-a964-b01dd3c32c9a\">also indicates<\/a> that the true ownership of EM bonds by overseas investors may be considerably greater than standard data shows. The paper questions the practice of allocating securities in national accounts based on the residency, rather than nationality, of their issuer. Using a specially-created algorithm, they calculated that US ownership of Brazilian bonds in 2017 amounted to USD 8 bn when based on residency, but USD 68 bn when based on nationality. For Chinese bonds, the increase went from USD 3 bn to USD 55 bn.<\/p>\n<p><strong>The Fed\u2019s repo facility may bring some relief, but it\u2019s no magic bullet:<\/strong> <a href=\"https:\/\/uk.reuters.com\/article\/uk-health-coronavirus-emerging-repo-anal\/emerging-markets-need-more-than-fed-repos-to-fix-dollar-malaise-idUKKBN21K2KG\">Starting tomorrow<\/a>, foreign central banks will be allowed to exchange government bonds for overnight USD loans, a move designed to provide countries that don\u2019t have swap lines with the Fed with USD liquidity. This will only provide limited relief though, according to Commerzbank EM analyst Antje Praefcke, who says that not every EM central bank will be in a position to make use of this, and those who can are under too much stress for it to make a tangible difference. Furthermore, although central banks with large FX reserves and Treasury holdings may see real benefits from the repo facility, it won\u2019t do much to alleviate currency pressures because unlike swaps it won\u2019t bolster central bank reserves.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570537\" 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=\"570537\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/egypts-el-sisi-talks-covid-updates-with-macron-african-leaders\/\">\r\n                            Egypt\u2019s El Sisi talks covid updates with Macron, African leaders                        <\/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\/05\/egypts-el-sisi-talks-covid-updates-with-macron-african-leaders\/\" 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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El Sisi renewed his calls to seek help from international partners and global financial institutions to set effective priorities to fast-track the help needed for African countries through the African Union.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sisi\/\">Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"570538\" 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=\"570538\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/egypt-and-sudan-link-energy-grids\/\">\r\n                            Egypt and Sudan link energy grids                        <\/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\/05\/egypt-and-sudan-link-energy-grids\/\" 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\/05\/egypt-and-sudan-link-energy-grids\/')\">\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\/04\/05\/egypt-and-sudan-link-energy-grids\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt and Sudan link energy grids&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/egypt-and-sudan-link-energy-grids\/\">\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\/04\/05\/egypt-and-sudan-link-energy-grids\/&title=Egypt and Sudan link energy grids\">\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+and+Sudan+link+energy+grids+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F05%2Fegypt-and-sudan-link-energy-grids%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\/05\/egypt-and-sudan-link-energy-grids\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570538\" class=\"content-area-description single-story post-570538 post type-post status-publish format-standard hentry category-energy tag-energy tag-enterpriseam tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egypt and Sudan have connected energy grids with an initial capacity of 60 MW, <a href=\"https:\/\/af.reuters.com\/article\/sudanNews\/idAFL8N2BR7C5\">Reuters reports<\/a>, citing a statement from Sudan\u2019s Energy Ministry. The connection will be <a href=\"https:\/\/wwww.dailynewssegypt.com\/2020\/02\/05\/egypt-sudan-power-interconnection-to-start-operation-this-month\/\">ramped up to 100 MW<\/a> in a second phase before later reaching its maximum 300 MW capacity. The EGP 509 mn 1k km long electricity interconnection project has been in the works since the governments first <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/05\/regional-projects-to-increase-national-grid-capacity-by-25-gw-in-2018-says-shaker\/\">agreed upon the network in 2018<\/a> but has seen <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17dca6ab-9493-41ef-8a5e-03384d2a8321\">continuous delays<\/a> as political disputes over the Grand Ethipian Renaissance Dam (GERD) overshadowed its construction.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/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=\"570540\" 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=\"570540\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/eipico-to-begin-running-its-egp-1-bn-third-plant-in-may\/\">\r\n                            EIPICO to begin running its EGP 1 bn third plant in May                        <\/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\/05\/eipico-to-begin-running-its-egp-1-bn-third-plant-in-may\/\" 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 factory, based in the Tenth of Ramadan City, cost EIPICO EGP 1 bn and is expected to contribute to the government\u2019s fight against the covid-19 outbreak by producing genetically modified proteins.<\/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\/eipico\/\">Eipico<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tenth-of-ramadan-city\/\">Tenth of Ramadan City<\/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=\"570541\" 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=\"570541\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/05\/the-market-yesterday-65\/\">\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\/04\/05\/the-market-yesterday-65\/\" 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\/05\/the-market-yesterday-65\/')\">\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\/04\/05\/the-market-yesterday-65\/\">\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\/04\/05\/the-market-yesterday-65\/\">\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\/04\/05\/the-market-yesterday-65\/&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%2F04%2F05%2Fthe-market-yesterday-65%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\/05\/the-market-yesterday-65\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570541\" class=\"content-area-description single-story post-570541 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.69 | Sell 15.79<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.70 | Sell 15.80<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.68 | Sell 15.78<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 9,455 (+0.3%)<br \/>\n <strong>Turnover:<\/strong> EGP 926 mn (53% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -32.3%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session up 0.3%. CIB, the index\u2019s heaviest constituent, ended down 0.7%. EGX30\u2019s top performing constituents were El Sewedy Electric up 8.4%, EFG Hermes up 4.5%, and Juhayna up 2.3%. Thursday\u2019s worst performing stocks were Cleopatra Hospital down 4.0%, Kima down 1.8% and Credit Agricole down 1.1%. The market turnover was EGP 926 mn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -322.6 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -13.5 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +336.1 mn<\/p>\n<p><strong>Retail<\/strong>: 37.8% of total trades | 43.4% of buyers | 32.3% of sellers<br \/>\n <strong>Institutions<\/strong>: 62.2% of total trades | 56.6% of buyers | 67.7% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 28.34 (+11.93%)<br \/>\n <strong>Brent:<\/strong> USD 34.11 (+13.94%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.62 MMBtu, (+4.45%, May 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,645.70 \/ troy ounce (+0.49%)<\/p>\n<p><strong>TASI:<\/strong> 6,749.69 (+2.74%) (YTD: -19.54%)<br \/>\n <strong>ADX:<\/strong> 3,758.35 (+0.35%) (YTD: -25.96%)<br \/>\n <strong>DFM:<\/strong> 1,722.87 (+0.12%) (YTD: -37.69%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,043.20 (-1.28%)<br \/>\n <strong>QE:<\/strong> 8,458.32 (+3.21%) (YTD: -18.87%)<br \/>\n <strong>MSM:<\/strong> 3,383.45 (-1.21%) (YTD: -15.01%)<br \/>\n <strong>BB: <\/strong>1,329.78 (-0.86%) (YTD: -17.41%)<\/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=\"570542\" 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\/05\/570542\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570542\" class=\"content-area-description single-story post-570542 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>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>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":570518,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-570517","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c635447c-0a7b-442a-98bd-57eaca4d28d3","teaser":"","photo_url":"https:\/\/ent.news\/2020\/4\/23.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Covid infections surge to 1,070; 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