{"id":570976,"date":"2020-04-26T04:01:15","date_gmt":"2020-04-26T04:01:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=570976"},"modified":"2025-12-16T07:45:36","modified_gmt":"2025-12-16T07:45:36","slug":"cib-enters-kenya-damietta-lng-deal-falls-through","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cib-enters-kenya-damietta-lng-deal-falls-through\/","title":{"rendered":"CIB enters Kenya + Damietta LNG deal falls through"},"content":{"rendered":"<section id=\"570978\" 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=\"570978\">\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\/26\/what-were-tracking-on-26-april-2020\/\">\r\n                            What we\u2019re tracking on 26 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\/26\/what-were-tracking-on-26-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 curfew previously began at 8pm.<\/p><p><strong>Shopping malls and retail outlets are now allowed to open on weekends<\/strong>, but are required to close their doors by 5pm, while restaurant customers will now be allowed to place takeaway orders in-store, Prime Minister Moustafa Madbouly <a href=\"https:\/\/bit.ly\/2zpeViA\">said on Thursday<\/a>.<\/p><p><strong>Also operating again (albeit with limitations) as of today:<\/strong><\/p><ul>\n<li>Real estate registry offices will reopen for a limited number of unspecified services;<\/li>\n<li>Traffic departments will be allowed to resume the issuance of car licenses;<\/li>\n<li>Family courts will also be allowed to resume inheritance sessions.<\/li>\n<\/ul><p><strong>Most other citizen services remain closed for the holy month. <\/strong>This includes passport services for citizens and work and residence permits for foreign residents.<\/p><p><strong>You will be required to wear a face mask<\/strong> if you do decide to venture to a traffic department, the <a href=\"https:\/\/bit.ly\/3aJ50la\">Interior Ministry said<\/a>.<\/p><p><strong>Resumption of domestic travel could be announced within a couple of weeks: <\/strong>The government is currently assessing how to resume domestic tourism, including air travel, and is expected to make a decision on the matter within the first half of Ramadan, cabinet spokesman Nader Saad said on Sada Al-Balad\u2019s \u2018Ala Mas\u2019ouleety <a href=\"https:\/\/www.youtube.com\/watch?v=YEKBEHMHnQo\">(watch, runtime: 22:59)<\/a>.<\/p><p><strong>The return of inbound and outbound passenger flights appears to be further afield<\/strong>, since this decision would depend on international tourism as a whole, Saad said. Cargo flights continue in the meantime.<\/p><p><strong>Schools also remain closed <\/strong>and the government will make an announcement in the second half of Ramadan on the scheduling of final examinations for schools and universities.<\/p><p><strong>EGX trading hours<\/strong><strong> remain unchanged through Ramad<\/strong><strong>an:<\/strong> Trading for the EGX and Nilex will continue to run covid-shortened hours of 10am to 1:30pm each day, <a href=\"https:\/\/egx.com.eg\/en\/NewsDetails.aspx?NewsID=197108\">according to an EGX statement<\/a>.<\/p><p><strong>So, when do we eat? <\/strong>Maghreb is at 6:29pm today, and you\u2019ll need to have consumed your final cup of coffee no later than 3:42am \u2014 fajr is coming one minute earlier every day through the end of the Holy Month.<\/p><hr class=\"grey-line\"><p><strong>Ramadan aside, here\u2019s what\u2019s making our brains spin at the start of the workweek:<\/strong><\/p><p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>Pundits think we still haven\u2019t seen the bottom of the stock market<\/strong>, leaving the <a href=\"https:\/\/www.ft.com\/content\/10d24f35-dee9-4991-a7bd-51be9097a100\">Financial<\/a><a href=\"https:\/\/www.ft.com\/content\/10d24f35-dee9-4991-a7bd-51be9097a100\">Times<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-25\/icahn-says-stocks-are-overvalued-virus-may-cause-downdrafts?srnd=premium-middle-east&amp;sref=mmeFTDW1\">activist investor Carl Icahn<\/a> on the same page. \u201cThe divergence between the flying stock market and the dying economy is so extreme it is leaving many analysts scrambling for explanations,\u201d the salmon-colored paper notes, suggesting <strong>there\u2019s little reason for global shares having \u201cerased half the stock market\u2019s fall since late February<\/strong>\u201d in what some had originally said was a bear-market rally. Icahn, meanwhile, suggests shares are \u201covervalued\u201d and that he\u2019s preparing for \u201csome big downdrafts\u201d yet to come in markets. In the meantime, he\u2019s \u201c<strong>hoarding cash, shorting commercial real estate and preparing for the coronavirus to wreak more havoc<\/strong>.\u201d<\/p><p><strong>The WHO is warning against so-called immunity passports<\/strong> that would allow people who show antibodies to the novel coronavirus to \u201ctravel or to return to work assuming that they are protected against re-infection. There is currently no evidence that people who have recovered from COVID-19 and have antibodies are protected from a second infection,\u201d the international body said in a <a href=\"https:\/\/www.who.int\/news-room\/commentaries\/detail\/immunity-passports-in-the-context-of-covid-19\">scientific<\/a><a href=\"https:\/\/www.who.int\/news-room\/commentaries\/detail\/immunity-passports-in-the-context-of-covid-19\">brief<\/a>.<\/p><p><strong>Are we overlooking lessons from the \u201cforgotten pandemic\u201d of the 1960s when <\/strong><strong>policymakers simply \u2026 let everyone get infected?<\/strong> Maybe. But even then, experts aren\u2019t on the same page about what those lessons may be, the <a href=\"https:\/\/www.wsj.com\/articles\/forgotten-pandemic-offers-contrast-to-todays-coronavirus-lockdowns-11587720625\">Wall Street Journal<\/a> suggests.<\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>Egypt now has 4,319 confirmed cases of covid-19<\/strong> after <a href=\"https:\/\/bit.ly\/3eQgVAC\">the Health Ministry reported<\/a> 227 new infections yesterday. The ministry also said that another 13 people had died from the virus, taking the death toll to 307. We now have a total of 1,450 confirmed cases that have since tested negative for the virus after isolation or hospitalization, of whom 1,114 have fully recovered.<\/p><p><strong>An Egyptian doctor died at a quarantine hospital in Aswan on Friday<\/strong>, becoming the country\u2019s fourth healthcare worker to die from covid-19, according to a <a href=\"https:\/\/bit.ly\/2VEUt6e\">Medical Syndicate statement<\/a>.<\/p><p><strong>Attempts to block covid burials are now punishable by law:<\/strong> The House of Representatives passed amendments to the Infectious Diseases Act that would make attempts to block the burial of covid-19 victims punishable by imprisonment and a fine of EGP 5k-10k, <a href=\"http:\/\/gate.ahram.org.eg\/News\/2398971.aspx\">according to Ahram Gate<\/a>. The amendments also grant the health minister the authority to require individuals to wear personal protective equipment if deemed necessary, and impose a fine of EGP 300-5k on violators.<\/p><p><strong>The Red Sea governor has allowed tourist cruises and boats to resume operations <\/strong>as long as they take the \u201cnecessary precautions,\u201d including frequent sanitization, <a href=\"https:\/\/bit.ly\/357PfTi\">according to MENA<\/a>.<\/p><p><strong>Hundreds more repatriated from Netherlands, MENA:<\/strong> More than 360 Egyptians arrived in Marsa Alam International Airport on three flights from the Netherlands, Bahrain, and Morocco on Thursday evening, <a href=\"https:\/\/www.egyptindependent.com\/egypts-marsa-alam-airport-receives-364-stranded-egyptians\/\">Al Masry Al Youm reports<\/a>. All returnees are in quarantine for a 14-day period.<\/p><p><strong>More flights coming:<\/strong> Air Cairo sent a flight to Indonesia yesterday, and EgyptAir will run two flights to the US in early May to bring home citizens, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/367963\/Egypt\/Politics-\/Egypt-operates-three-repatriation-flights-to-bring.aspx\">MENA reported<\/a>.<\/p><p><strong>Private carrier Nile Air is pitching the Sovereign Fund of Egypt and a number of banks to <\/strong><strong>buy stakes<\/strong> in the company to shield it from going under, Managing Director Yousry Abdel Wahab <a href=\"https:\/\/alborsaanews.com\/2020\/04\/25\/1324593\">told the local press<\/a>. The National Bank of Egypt and Banque Misr have reportedly been in talks with a handful of private airlines over zero-interest loans, as they appear to refuse the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7556d5f4-f4be-40a0-b383-00d317400ee5\">soft loans offered by the Central Bank of Egypt<\/a> since the entire sector is at a standstill.<\/p><p><strong>The Egyptian Football Association is getting USD 500k in relief from Fifa <\/strong>as national associations struggle to remain afloat, <a href=\"https:\/\/www.fifa.com\/who-we-are\/news\/fifa-starts-immediate-financial-support-to-member-associations-in-response-to-co\">Fifa said in a statement<\/a>. The football body has set up a USD 150 mn fund to support 211 partner football associations globally.<\/p><p><strong>DON<\/strong><strong>ATIONS-<\/strong><\/p><p><strong>Telecom Egypt, Orange, and Etisalat will provide quarantine hospitals with 12 ventilators <\/strong><strong>and medical and protective equipment<\/strong> for 200 healthcare workers in a joint initiative, <a href=\"https:\/\/bit.ly\/3aBNOxP\">according to a CIT Ministry statement<\/a>.<\/p><p><strong>Telecom Egypt is paying for 1 mn online medical consultations for Egyptians<\/strong> in collaboration with digital healthcare platform <a href=\"https:\/\/www.altibbi.com\/\">Altibbi<\/a>, according to <a href=\"https:\/\/bit.ly\/2VBCMEr\">Al Mal<\/a>. Patients can use the Altibbi website or app to communicate with a doctor, and a hotline (16445) has been set up for people unable to use the internet.<\/p><p><strong>The Insurance Federation of Egypt has donated EGP 10 mn<\/strong> to the Tahya Misr Fund, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1972022\">according to Al Masry Al Youm<\/a><\/p><p><strong>Blom Bank donated EGP 10 mn<\/strong> under the Federation of Egyptian Banks\u2019 initiative to support families of workers who were affected by the covid-19 pandemic, <a href=\"https:\/\/bit.ly\/2Y4P89N\">according to Al Mal<\/a>.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>The WHO has launched a \u201clandmark collaboration\u201d<\/strong> <strong>to speed development of effective<\/strong> <strong>medication, tests and vaccines, and ensure accessibility<\/strong>, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-who\/world-leaders-launch-plan-to-speed-covid-19-drugs-vaccine-u-s-stays-away-idUSKCN2261M7\">Reuters reports<\/a>. The leaders of France, Germany, South Africa, and countries throughout Asia, the Middle East and the Americas participated in a virtual meeting held on Friday, but the US, China, India and Russia were notably absent.<\/p><p><strong>Germany has given the green-light to clinical trials of a corona vaccine <\/strong>in human beings, <a href=\"https:\/\/www.dw.com\/en\/germany-to-start-first-coronavirus-vaccine-trial\/a-53211375\">DW reports<\/a>. Scientists in the UK <a href=\"https:\/\/www.bbc.com\/news\/health-52394485\">did the same last week<\/a>.<\/p><p><strong>Red states in the US begin to relax lockdown: <\/strong>Several Republican states in the south announced plans to ease lockdown restrictions in defiance of advice issued by medical experts, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa\/as-u-s-coronavirus-death-toll-tops-51000-handful-of-states-move-toward-reopening-idUSKCN22622M\">Reuters reports<\/a>. Gyms, beauty salons and some workplaces reopened in Georgia and Oklahoma on Friday, following Florida and South Carolina, which both moved last week to reopen parts of their economies.<\/p><p><strong>Some Canadian provinces lightly hit by the virus have announced how they will phase-in <\/strong>the reopening of their economies. New Brunswick is now permitting two-household gatherings and limited carpooling, but suggested businesses, restaurants, and offices <a href=\"https:\/\/www.cbc.ca\/news\/canada\/new-brunswick\/covid-19-recovery-plan-new-brunswick-blaine-higgs-1.5543682\">have another 2-4 weeks to go<\/a>. Saskatchewan will start <a href=\"https:\/\/globalnews.ca\/news\/6858118\/saskatchewan-reopening-coronavirus-scott-moe\/\">reopening in five phases<\/a> starting on 4 May.<\/p><p><b>Saudi Arabia is partially lifting today its curfew across the country, with the exception of Mecca<\/b><span style=\"font-weight: 400;\">, which remains under a 24-hour curfew, <\/span><a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=en&amp;newsid=2078975#2078975\"><span style=\"font-weight: 400;\">according to the Saudi Press Agency<\/span><\/a><span style=\"font-weight: 400;\">. The kingdom is also allowing malls and retail stores to resume operations outside of curfew hours, while restaurants, cafes, cinemas, and other recreational businesses will remain closed.<\/span><\/p><p class=\"web-image\"><a href=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/2019-remittances-1600px-2.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/2019-remittances-1600px-2.jpg?resize=1600%2C718&#038;ssl=1\" alt=\"enterprise\" width=\"1600\" height=\"718\"><\/a><\/p><p><strong>MACRO-<\/strong><\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2020\/04\/22\/world-bank-predicts-sharpest-decline-of-remittances-in-recent-history\">World Bank predicts<\/a><\/strong><strong> global remittances will see their \u201csharpest decline in recent<\/strong><strong> history\u201d<\/strong> this year due to the pandemic, with the MENA region expected to see its remittance inflows drop 19.6% before rising a modest 1.6% in 2021. Remittances \u2014 particularly transfers from workers in the oil-exporting GCC countries \u2014 are a key source of foreign currency for Egypt, but are likely to witness downward pressure this year as companies come under pressure from the slump in oil prices.<\/p><p><strong>US earnings season picking up steam: <\/strong>Wall Street heavyweights Microsoft, Apple, and Amazon, as well as energy giants ExxonMobil and Chevron, are set to report their quarterly earnings this week, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-companies-cash\/cash-is-king-as-u-s-quarterly-reporting-season-gains-steam-idUSKCN22632X\">reports Reuters<\/a>. You can find <a href=\"https:\/\/finance.yahoo.com\/calendar\/earnings?from=2020-04-26&amp;to=2020-05-02&amp;day=2020-04-27\">the full earnings calendar here<\/a>.<\/p><p><strong>Will Big Tech come out stronger? <\/strong>Wall Street valuations are pricing in a rebound in the tech industry this year as stay-at-home and social distancing orders led to a spike in digital demand, Richard Waters <a href=\"https:\/\/www.ft.com\/content\/57e4370a-7d07-4fbb-8ef3-025be2b6c6d0\">writes for the Financial Times<\/a>.<\/p><p><strong>Facebook launched its own multi-person video chat feature, pushing Zoom\u2019s shares to<\/strong><strong> drop 10% last week<\/strong>, <a href=\"https:\/\/www.ft.com\/content\/ceee381c-d42b-4f35-a2cb-2ae07a299ec8\">according to the Financial Times<\/a>. The social media platform, which will release its earnings this week, said it will soon roll out its Messenger Rooms feature at no charge on Facebook and Messenger<\/p><hr class=\"grey-line\"><p><strong>You know it\u2019s end times when a Republican administration is considering<\/strong> <strong>part-nationalization to keep the country\u2019s oil sector afloat:<\/strong> The US government could purchase equity stakes in American energy companies to prevent mass defaults amid historically low oil prices, Treasury Secretary Steven Mnuchin said, <a href=\"https:\/\/www.reuters.com\/article\/us-global-oil-usa\/u-s-weighs-taking-equity-stakes-in-u-s-energy-companies-mnuchin-says-idUSKCN2262TY\">according to Reuters<\/a>. The plan is understood to be one of several under consideration, and it is not known which companies the government would seek to invest in.<\/p><p><strong>Saudi Aramco has begun scaling back production<\/strong> ahead of 1 May when the agreement between Opec, Russia and the US to cut output is due to start, a Saudi official said. \u201cRather than an effort to quick-start the output cuts, the gradual reduction reflects the several days that Aramco needs to adjust production safely,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-25\/saudi-aramco-starts-cutting-output-ahead-of-may-1-opec-target?srnd=premium-middle-east&amp;sref=mmeFTDW1\">says Bloomberg<\/a>. Saudi-led Opec and its allies, which together make up Opec+, agreed earlier this month to cut global production by 10% in a failed attempt to prevent the market from crashing further.<\/p><p><strong>BofA thinks gold could be trading at USD 3k \/ oz \u2014 double its current value \u2014 by<\/strong><strong> October 2021<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-21\/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold?sref=mmeFTDW1\">according to Bloomberg<\/a>. This would come as massive liquidity boosts by central bankers around the world to stimulate the virus-hit economy means \u201cfiat currencies could come under pressure,\u201d prompting people to seek gold as a better store of value.<\/p><p class=\"web-image\"><a href=\"https:\/\/enterprise.press\/podcast\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/Making-It-Album-Cover-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>MAKING IT IS BACK- The second season of our podcast on building a great business in <\/strong><strong>Egypt has started<\/strong>, just in time to keep you entertained on Thursdays during Ramadan.<\/p><p><strong>Our first guest is Mohamed El Kalla<\/strong>, CEO of <a href=\"http:\/\/cairoinvest-ir.com\/en\">CIRA<\/a>, one of the largest private-sector education companies covering everything from K-12 through university. The business has grown from a small family concern into an EGX-listed giant.<\/p><p><strong>Tap or click here to listen to the first episode on:<\/strong> <a href=\"http:\/\/enterprise.press\/podcast\">Our website<\/a> | <a href=\"https:\/\/podcasts.apple.com\/podcast\/making-it\/id1487974619\">Apple Podcast<\/a> | <a href=\"https:\/\/podcasts.google.com\/?feed=aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2L2U3ZjE1ZWYwLWMwOWYtNDFiNi1iZDM4LWFiMDUwMGMwNDVlZi82OTc0ODFkMi04OGRmLTRlYjMtYmY3Mi1hYjA1MDBjMjllOWYvcG9kY2FzdC5yc3M&amp;episode=MjAxOTkxNTktOGU2NS00NjUxLWIyZDAtYWJhNTAxNjMyNWI5&amp;ved=0CAcQ38oDahcKEwiokr3Egf3oAhUAAAAAHQAAAAAQAg\">Google<\/a><a href=\"https:\/\/podcasts.google.com\/?feed=aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2L2U3ZjE1ZWYwLWMwOWYtNDFiNi1iZDM4LWFiMDUwMGMwNDVlZi82OTc0ODFkMi04OGRmLTRlYjMtYmY3Mi1hYjA1MDBjMjllOWYvcG9kY2FzdC5yc3M&amp;episode=MjAxOTkxNTktOGU2NS00NjUxLWIyZDAtYWJhNTAxNjMyNWI5&amp;ved=0CAcQ38oDahcKEwiokr3Egf3oAhUAAAAAHQAAAAAQAg\">Podcast<\/a>. We\u2019re also available on <a href=\"https:\/\/open.spotify.com\/show\/5kp07MwlL0pk8W8i7thpgB\">Spotify<\/a>, but only for non-MENA accounts.<\/p><p><strong>Making It is made possible thanks to the generous support of:<\/strong> Our friends at <a href=\"https:\/\/www.cibeg.com\/English\/Pages\/default.aspx\">CIB<\/a> and <a href=\"https:\/\/www.usaid.gov\/egypt\">the<\/a><a href=\"https:\/\/www.usaid.gov\/egypt\">United States Agency for International Development (USAID)<\/a>.<\/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\/air-cairo\/\">Air Cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/altibbi\/\">Altibbi<\/a>\n                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of opportunity<\/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-rlsb4pw\" data-v=\"4\" data-block-id=\"rlsb4pw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rlsb4pw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rlsb4pw-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\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570980\" 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=\"570980\">\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\/26\/talking-heads-begin-their-ramadan-hiatus-with-the-exception-of-lamees-amr-adib\/\">\r\n                            Talking heads begin their Ramadan hiatus, with the exception of Lamees + Amr Adib                        <\/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\/26\/talking-heads-begin-their-ramadan-hiatus-with-the-exception-of-lamees-amr-adib\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=Talking+heads+begin+their+Ramadan+hiatus%2C+with+the+exception+of+Lamees+%2B+Amr+Adib+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Ftalking-heads-begin-their-ramadan-hiatus-with-the-exception-of-lamees-amr-adib%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\/26\/talking-heads-begin-their-ramadan-hiatus-with-the-exception-of-lamees-amr-adib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570980\" class=\"content-area-description single-story post-570980 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-madbouly-cabinet wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The majority of the nation\u2019s talking heads are on hiatus for the month of Ramadan<\/strong>, save for power couple Lamees El Hadidi (Al Kahera Alaan) and her lesser half Amr Adib (El Hekaya), both of whom focused largely on covid-19 updates.<\/p>\n<p><strong>Curfew reduction has doctors\u2019 blessing:<\/strong> Cabinet\u2019s crisis management committee consulted medical professionals on the potential added risk of spreading the virus before moving to reduce curfew hours during Ramadan, Cabinet spokesman Nader Saad told Lamees. <strong>The government has no intention to go ahead with a total lockdown<\/strong>, which would spell disaster for the country\u2019s economy, Saad reiterated (<a href=\"https:\/\/www.youtube.com\/watch?v=CRm6QZ8iX-4\">watch, runtime: 16:38<\/a>).<\/p>\n<p><strong>Not impressed with a Singapore study suggesting the outbreak in Egypt could end next month:<\/strong> Adib called up Misr University pharmaeconomics lecturer Islam Anan for his two cents on <a href=\"https:\/\/ddi.sutd.edu.sg\/\">a study<\/a> from the Singapore University of Technology and Design that predicts the pandemic\u2019s life cycle in Egypt will end around 20 May. Anan suggested that the study may be inaccurate because the data used does not match the Health Ministry\u2019s daily case tally reports and the study does not clarify its data sources (<a href=\"https:\/\/www.youtube.com\/watch?v=LaJydD07j2w\">watch, runtime: 9:01<\/a>)<\/p>\n<p>Adib also took note of <strong>the release of some 4k prisoners on Sinai Liberation Day yesterday<\/strong> (<a href=\"https:\/\/www.youtube.com\/watch?v=N-6iHINB_MI\">watch, runtime: 1:49<\/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\/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\/madbouly-cabinet\/\">Madbouly Cabinet<\/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=\"570981\" 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=\"570981\">\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\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/\">\r\n                            Breakdown in Naturgy, Eni and EGPC Damietta dispute resolution                        <\/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\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/\" 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\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/')\">\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\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/\">\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=Breakdown in Naturgy, Eni and EGPC Damietta dispute resolution&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/\">\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\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/&title=Breakdown in Naturgy, Eni and EGPC Damietta dispute resolution\">\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=Breakdown+in+Naturgy%2C+Eni+and+EGPC+Damietta+dispute+resolution+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fbreakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution%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\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/212.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570982\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/breakdown-in-naturgy-eni-and-egpc-damietta-dispute-resolution\/212-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/212.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"212.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/212.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/212.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570981\" class=\"content-area-description single-story post-570981 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-covid-19 tag-egyptian-general-petroleum-corporation tag-eni tag-enterpriseam tag-italy tag-naturgy-energy-group tag-oil-and-gas tag-spain tag-speed-round tag-zohr-field wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>DISPUTE WATCH- The resolution of a long-simmering dispute over a <\/strong><strong>shuttered Damietta LNG plant has fallen apart<\/strong> despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3daaf1d1-c6d5-4930-8f72-36439b986094\">an agreement<\/a> reached last month, <a href=\"https:\/\/bit.ly\/3bHtsEE\">according to a cabinet statement<\/a>. Parties to the dispute include Spanish gas firm Naturgy Energy Group, Italy\u2019s Eni, and the Egyptian government.<\/p>\n<p><strong>Why does this matter? <\/strong>First, the dispute was closely followed by investors in Egypt\u2019s energy sector, though that concern was largely swept away as the Sisi administration reached a settlement with all parties. More importantly, the Damietta plant is a key part of Egypt\u2019s strategy to grow its natural gas exports as it emerges as the Eastern Mediterranean\u2019s premier energy hub. The plant has been closed since 2012, when supply of gas was shut off amid disruptions in the wake of the political events of the previous year. Its reopening would have expanded Egypt\u2019s ability to export natural gas to European markets.<\/p>\n<p><strong>What happened? <\/strong>A number of unspecified conditions outlined in the agreement remain unmet, Naturgy <a href=\"http:\/\/www.bolsamadrid.es\/docs\/hechos\/000\/IP000176.PDF\">said in a Madrid bourse statement (Spanish) (pdf)<\/a>. Chief among them, it seems, is that the reopening of the LNG plant has stalled because of covid-19 restrictions on business operations, a <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N2CB72J\">source familiar with the matter<\/a> told Reuters.<\/p>\n<p><strong>Naturgy will now resume its claim in a <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/04\/arbitrator-orders-egypt-to-pay-usd-2-bn-to-union-fenosa-gas-over-natural-gas-supply-cut-to-damietta-plant\/\">USD 2 bn arbitration case<\/a><\/strong> against the Egyptian government but says it is still open to an \u201camicable\u201d settlement. The World Bank\u2019s International Center for Settlement of Investment Disputes had already ruled in Naturgy\u2019s favor in the case in 2018.<\/p>\n<p><strong>What was the latest before things fell apart?<\/strong> Eni and Naturgy had reached an agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3daaf1d1-c6d5-4930-8f72-36439b986094\">last<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3daaf1d1-c6d5-4930-8f72-36439b986094\">month<\/a> with the Egyptian government that would have seen Naturgy exit Union Fenosa Gas (UFG), its joint venture with Eni. Naturgy would have taken USD 600 mn for most of UFG\u2019s assets outside Egypt and its equity in the Damietta LNG, with the equity passing to the remaining stakeholders in the plant. Following Naturgy\u2019s exit, the plant would be 50% owned by Eni, 40% by Egyptian Natural Gas Holding Co. (EGAS) and 10% by the Egyptian General Petroleum Company (EGPC).<\/p>\n<p><strong>S&P Global Platts Analytics had long been pessimistic<\/strong> about restarting operations at the Damietta plant, even if Eni were to find an export market for its Zohr gas production, <a href=\"https:\/\/www.spglobal.com\/platts\/en\/market-insights\/podcasts\/focus\/042220-coal-markets-struggle-mines-suspended-coronavirus\">it said<\/a>. It argued that the global gas glut had made it increasingly complicated to negotiate the terms between Eni and EGAS on the utilization of the plant. \u201cThe breakdown of the [agreement] further bolsters our view that it's highly unlikely that Damietta will see a 2020 restart,\" Platts Analytics LNG analyst Samer Mosis said.<\/p>\n<p><strong>Meanwhile, Eni is planning to cut back spending across its footprint <\/strong>after it reported a <a href=\"https:\/\/ent.news\/2020\/4\/eni-first-quarter-2020-ceo-claudio-descalzi-comments-results.pdf\">94%<\/a><a href=\"https:\/\/ent.news\/2020\/4\/eni-first-quarter-2020-ceo-claudio-descalzi-comments-results.pdf\">drop in 1Q2020 profits<\/a>to EUR 59 mn as demand collapsed thanks to the covid-19 pandemic. The energy giant will slash its capital expenditure across its markets by a further 30% after it cut spending plans in March and canceled a EUR 400 mn share buyback. <strong>The company will slash its exploration and production budget with cuts in Egypt, the UAE, and Indonesia<\/strong> (as well as oil fields in Iraq and LNG projects in Angola), CEO Claudio Descalzi said on a conference call, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-24\/eni-reports-94-slump-in-profit-cuts-production-forecast?sref=mmeFTDW1\">according to Bloomberg<\/a>.<\/p>\n<p><strong>Eni had increased its investment in its JV Agiba <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04f59ccc-1752-484f-a2a2-80d544db8b8a\">in March<\/a><\/strong> by USD 60 mn to USD 430 mn to increase exploration and development operations in the Western Desert and the Gulf of Suez this year. It was also set to begin commercial operations on the Zohr natural gas field\u2019s 15th well last month, Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fb1cc97-7595-4286-8f6e-087006c7a61c\">said in February<\/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\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naturgy-energy-group\/\">Naturgy Energy Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spain\/\">Spain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zohr-field\/\">Zohr Field<\/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=\"570989\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"570990\" 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=\"570990\">\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\/26\/the-weekend-in-macro-euro-pmis-continue-to-crash-ems-could-face-deeper-recession-diaspora-bonds\/\">\r\n                            The weekend in macro: Euro PMIs continue to crash, EMs could face deeper recession, diaspora bonds                        <\/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\/26\/the-weekend-in-macro-euro-pmis-continue-to-crash-ems-could-face-deeper-recession-diaspora-bonds\/\" target=\"_blank\">\n                    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                  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+weekend+in+macro%3A+Euro+PMIs+continue+to+crash%2C+EMs+could+face+deeper+recession%2C+diaspora+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fthe-weekend-in-macro-euro-pmis-continue-to-crash-ems-could-face-deeper-recession-diaspora-bonds%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\/26\/the-weekend-in-macro-euro-pmis-continue-to-crash-ems-could-face-deeper-recession-diaspora-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/214.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570991\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/the-weekend-in-macro-euro-pmis-continue-to-crash-ems-could-face-deeper-recession-diaspora-bonds\/214-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/214.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"214.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/214.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/214.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570990\" class=\"content-area-description single-story post-570990 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-covid-19 tag-debt tag-economy tag-emerging-markets tag-enterpriseam tag-europe tag-fdi tag-manufacturing tag-pmi tag-the-macro-picture wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Weekend in Macro: Surprising no-one, European flash PMIs suggest horrific <\/strong><strong>contraction in April:<\/strong> The IHS Markit Flash Eurozone Composite purchasing managers\u2019 index, which combines the services sector and factory output, reached an all-time low of 13.7 in April, down from 26.4 in March.<\/p>\n<p><strong>Europe\u2019s service and manufacturing sectors nearing collapse: <\/strong>Services \u201cbore the brunt of the impact from the lockdown measures,\u201d with the reading for the services PMI coming in at 11.7 in April \u2014 its lowest level since July 1998 \u2014 as the hospitality and travel markets grounded to a near halt, according to the <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/b9c4af250a8e40efabbb1b120b368e6f\">flash PMI release<\/a>. \u201cManufacturing also saw a record\u201d as the factory gauge more than halved to 18.4 during a month which brought about \u201cunprecedented damage,\u201d IHS Markit Chief Economist Chris Williamson was quoted as saying.<\/p>\n<p><strong>Developing countries c<\/strong><strong>ould witness a deeper recession than initially expected<\/strong> if consumption and investment don\u2019t rebound quickly enough post-corona, senior World Bank officials have warned, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-world-bank\/developing-economies-could-see-sharper-recession-in-2020-world-bank-warns-idUSKCN2262MV\">according to Reuters<\/a>. In a baseline scenario, the bank expects a \u201cgrim\u201d 2% economic contraction in developing countries, but the situation could be much worse, leading to a drop of up to 3%, if investment and consumption remain curtailed.<\/p>\n<p><strong>Diaspora bonds could be a way out of the FDI slump<\/strong>, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-diaspora-bonds\/pandemic-could-fuel-demand-for-diaspora-bonds-says-world-bank-idUSKCN22635H\">the bank said<\/a>. According to its projections, the bonds \u2014 sold by emerging countries to their expats abroad \u2014 could help offset the sharp 37% expected fall in emerging-market FDI this year, potentially raising up to USD 50 bn a 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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/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\/pmi\/\">PMI<\/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=\"570992\" 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=\"570992\">\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\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/\">\r\n                            Oil rigs stuck in limbo in the North Sea \u2014 a symbol of the global economy?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/')\">\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\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/\">\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=Oil rigs stuck in limbo in the North Sea \u2014 a symbol of the global economy?&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/\">\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\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/&title=Oil rigs stuck in limbo in the North Sea \u2014 a symbol of the global economy?\">\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=Oil+rigs+stuck+in+limbo+in+the+North+Sea+%E2%80%94+a+symbol+of+the+global+economy%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Foil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy%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\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/215.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570993\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/oil-rigs-stuck-in-limbo-in-the-north-sea-a-symbol-of-the-global-economy\/215-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/215.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"215.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/215.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/215.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570992\" class=\"content-area-description single-story post-570992 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-enterpriseam tag-image-of-the-day tag-oil-and-gas tag-scotland wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Oil rigs stuck in limbo in the North Sea \u2014 a symbol of the global economy?<\/strong> Ok, so these aren\u2019t dolphins in the Venice canals or herds of Thai elephants crossing a road. But these <a href=\"https:\/\/twitter.com\/UrbanFoxxxx\/status\/1232685810421501953\/photo\/1\">pictures by HE Media<\/a> of oil rigs in the North Sea\u2019s Cromarty Firth \u2014 <a href=\"https:\/\/www.atlasobscura.com\/places\/oil-rig-graveyard\">dubbed the sleeping monsters<\/a> of Scotland's oil industry \u2014 are symbolic of the global economy\u2019s sudden slowdown amid oil market volatility. They also have an ethereal beauty, viewed in pale gray light.<\/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\/image-of-the-day\/\">IMAGE OF THE DAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/scotland\/\">Scotland<\/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=\"570994\" 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=\"570994\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypt-in-the-news-on-26-april-2020\/\">\r\n                            Egypt in the News on 26 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\/26\/egypt-in-the-news-on-26-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypt-in-the-news-on-26-april-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypt-in-the-news-on-26-april-2020\/&title=Egypt in the News on 26 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+26+April+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fegypt-in-the-news-on-26-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\/26\/egypt-in-the-news-on-26-april-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570994\" class=\"content-area-description single-story post-570994 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-construction tag-covid-19 tag-egypt-in-the-news tag-enterpriseam tag-human-rights tag-infrastructure tag-new-administrative-capital tag-ramadan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a relatively quiet newsday for Egypt in the international press<\/strong>, with the country getting nods in pieces in the <a href=\"https:\/\/www.ft.com\/content\/045f9e6f-b6e0-44c5-bccb-f2ccc316b222\">Financial Times<\/a> and <a href=\"https:\/\/www.nytimes.com\/2020\/04\/25\/world\/middleeast\/virus-weddings-arab.html?searchResultPosition=2\">New York Times<\/a> how covid-19 is disrupting Ramadan and daily life here.<\/p>\n<p><strong>Also making headlines: <\/strong>Concerns about the spread of the novel coronavirus in the nation\u2019s prisons (<a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2C401S\">Reuters<\/a>) and a look at the new administrative capital (<a href=\"https:\/\/bit.ly\/2XXeJBy\">CNN<\/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\/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\/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\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramadan\/\">Ramadan<\/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=\"570995\" 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=\"570995\">\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\">Worth Listening<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/\">\r\n                            Emerging markets are about to be hit by a crisis of epic proportions                        <\/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\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/\" 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\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/')\">\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\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/\">\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=Emerging markets are about to be hit by a crisis of epic proportions&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/\">\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\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/&title=Emerging markets are about to be hit by a crisis of epic proportions\">\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=Emerging+markets+are+about+to+be+hit+by+a+crisis+of+epic+proportions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Femerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions%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\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/216.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"570996\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/emerging-markets-are-about-to-be-hit-by-a-crisis-of-epic-proportions\/216-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/216.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"216.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/216.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/216.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570995\" class=\"content-area-description single-story post-570995 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-listening tag-emerging-markets tag-enterpriseam tag-imf tag-sdrs tag-supply-chain tag-tourism tag-worth-listening wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Emerging markets are about to be hit by a crisis of epic proportions<\/strong>, with a public health emergency coming as investors retreat and foreign exchange reserves shrink. In this Bloomberg podcast (<a href=\"https:\/\/www.bloomberg.com\/news\/audio\/2020-04-20\/a-crisis-in-emerging-markets-unlike-any-other-podcast\">listen, runtime: 50:50<\/a>), senior fellow at the <a href=\"https:\/\/www.cfr.org\/\">Council on Foreign Relations<\/a> Brad Setser discusses some of the key measures he uses to track the severity of the situation, as well as potential avenues for damage control.<\/p>\n<p><strong>What is to be done? <\/strong>Setser looks at which countries are particularly vulnerable \u2014 think those with oil dependent economies, low foreign exchange reserves or those at risk of debt default prior to the virus \u2014 and addresses which tools the IMF has in its arsenal, why its reserve asset (the Special Drawing Right) wasn\u2019t deployed more quickly, and whether some form of health-related conditionality may be attached to loans. The cast also examines the medium- and long-term impacts of reduced tourism and more localized supply chains as economies the world over try to find new ways of balancing resilience with efficiency.<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sdrs\/\">SDRs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-listening\/\">WORTH LISTENING<\/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=\"570997\" 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=\"570997\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/\">\r\n                            Pompeo calls on Egypt to protect US detainees during covid                        <\/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\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/\" 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\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/')\">\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\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/\">\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=Pompeo calls on Egypt to protect US detainees during covid&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/\">\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\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/&title=Pompeo calls on Egypt to protect US detainees during covid\">\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=Pompeo+calls+on+Egypt+to+protect+US+detainees+during+covid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fpompeo-calls-on-egypt-to-protect-us-detainees-during-covid%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\/26\/pompeo-calls-on-egypt-to-protect-us-detainees-during-covid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570997\" class=\"content-area-description single-story post-570997 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-covid-19 tag-diplomacy-foreign-trade tag-enterpriseam tag-human-rights tag-north-sinai tag-politics tag-us tag-usaid wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Pompeo calls on Egypt to protect US detainees during covid:<\/strong> US Secretary of State Mike Pompeo called for detained US citizens in Egypt to be kept safe during the covid-19 pandemic in a Thursday phone call with Foreign Minister Sameh Shoukry, <a href=\"https:\/\/www.state.gov\/secretary-pompeos-call-with-egyptian-foreign-minister-shoukry\/\">according to a statement<\/a> issued by the US State Department. Three US citizens detained in Egypt were reportedly mentioned by name <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-10\/senators-urge-pompeo-to-press-for-release-of-americans-overseas\">in a letter sent by US senators<\/a> to Pompeo earlier this month, asking him to press for the release of US citizens held in certain countries who they deem at heightened risk of contracting the virus.<\/p>\n<p><strong>Also in the Washington file: <\/strong>USAID is giving Egypt an additional USD 6 mn grant to finance development in northern Sinai, <a href=\"https:\/\/bit.ly\/3cNUoCU\">according to a statement<\/a> from the Ministry of International Cooperation.<\/p>\n<p><strong>On the foreign trade front:<\/strong><\/p>\n<ul>\n<li><strong>Egypt's exports of iron and steel fell 35% in 1Q2020 <\/strong>to USD 138 mn, <a href=\"https:\/\/bit.ly\/3cYJQRB\">Youm 7<\/a> reports, citing official figures.<\/li>\n<li><strong>Exports of jewelry and gemstones<\/strong><strong> rose 58% <\/strong>in the same quarter to USD 793 mn up from USD 503 mn, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25042020&id=92c9e3eb-62ac-4b53-9639-225501563933\">according to state news agency MENA<\/a>. Our top export market: The UAE, which took in about 70% of jewelry exports worth USD 558 mn.<\/li>\n<\/ul>\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-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/north-sinai\/\">North Sinai<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/usaid\/\">USAID<\/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=\"570998\" 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=\"570998\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/\">\r\n                            Zafarana wind farm to shut down in 2020 as life-span ends                        <\/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\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/\" 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\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/')\">\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\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/\">\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=Zafarana wind farm to shut down in 2020 as life-span ends&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/\">\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\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/&title=Zafarana wind farm to shut down in 2020 as life-span ends\">\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=Zafarana+wind+farm+to+shut+down+in+2020+as+life-span+ends+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fzafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends%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\/26\/zafarana-wind-farm-to-shut-down-in-2020-as-life-span-ends\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-570998\" class=\"content-area-description single-story post-570998 post type-post status-publish format-standard hentry category-energy tag-energy tag-enterpriseam tag-new-and-renewable-energy-authority tag-renewable-energy tag-renewables tag-zafarana wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The 39 MW Zafarana wind farm will be taken offline next year as its 20-year life span comes to an end, <a href=\"https:\/\/bit.ly\/2yCa6lS\">the local press reports<\/a>, citing an unnamed Electricity Ministry official.<\/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\/new-and-renewable-energy-authority\/\">New and Renewable Energy Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zafarana\/\">Zafarana<\/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=\"571000\" 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=\"571000\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/\">\r\n                            Ora Developers gets ministerial green light for Zed Towers phase 2                        <\/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\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/')\">\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\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/\">\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=Ora Developers gets ministerial green light for Zed Towers phase 2&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/\">\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\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/&title=Ora Developers gets ministerial green light for Zed Towers phase 2\">\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=Ora+Developers+gets+ministerial+green+light+for+Zed+Towers+phase+2+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fora-developers-gets-ministerial-green-light-for-zed-towers-phase-2%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\/26\/ora-developers-gets-ministerial-green-light-for-zed-towers-phase-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571000\" class=\"content-area-description single-story post-571000 post type-post status-publish format-standard hentry category-real-estate-housing tag-enterpriseam tag-new-urban-communities-authority tag-ora-developers tag-real-estate-housing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Ora Developers and Gemini Global Developments have received ministerial approval to develop the 15.7-feddan second phase of its flagship Zed Towers development,<a href=\"https:\/\/alborsaanews.com\/2020\/04\/25\/1324603\">according to the local press<\/a>. The New Urban Communities Authority had approved the master plan for the EGP 35 bn Zed Towers project in Sheikh Zayed <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/zed-towers-project-receives-approval-for-master-plan\/\">last year<\/a>. The 165-feddan project must be completed within 10 years.<\/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\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-housing\/\">Real Estate + Housing<\/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=\"571001\" 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=\"571001\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/\">\r\n                            Egypt, Russia and Hungary finalize railcar financing agreement                        <\/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\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/\" 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\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/')\">\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\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/\">\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, Russia and Hungary finalize railcar financing agreement&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/\">\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\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/&title=Egypt, Russia and Hungary finalize railcar financing agreement\">\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%2C+Russia+and+Hungary+finalize+railcar+financing+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fegypt-russia-and-hungary-finalize-railcar-financing-agreement%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\/26\/egypt-russia-and-hungary-finalize-railcar-financing-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571001\" class=\"content-area-description single-story post-571001 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-enterpriseam tag-hungary tag-russia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The National Railway Authority has received final approval from the Hungarian Export-Import Bank and Russia\u2019s Roseximbank to finance the purchase of 1.3k railcars from Russia\u2019s Transmashholding, <a href=\"https:\/\/www.railwaygazette.com\/business\/egypt-russia-and-hungary-complete-coach-financing-agreement\/56317.article\">Railway Gazette reports<\/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\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hungary\/\">Hungary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/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=\"571002\" 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=\"571002\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/\">\r\n                            Egypt\u2019s state banks sell EGP 92 bn of high-yield certificates                        <\/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\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/\" 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\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/')\">\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\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/\">\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\u2019s state banks sell EGP 92 bn of high-yield certificates&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/\">\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\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/&title=Egypt\u2019s state banks sell EGP 92 bn of high-yield certificates\">\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%E2%80%99s+state+banks+sell+EGP+92+bn+of+high-yield+certificates+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fegypts-state-banks-sell-egp-92-bn-of-high-yield-certificates%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\/26\/egypts-state-banks-sell-egp-92-bn-of-high-yield-certificates\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571002\" class=\"content-area-description single-story post-571002 post type-post status-publish format-standard hentry category-banking-finance tag-banking tag-banking-finance tag-banque-misr tag-enterpriseam tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The National Bank of Egypt has sold EGP 62 bn of its 15% fixed-rate certificates to some 340k customers, Chairman Hisham Okasha <a href=\"https:\/\/bit.ly\/2XWsT5G\">told Youm7<\/a>. Banque Misr, meanwhile, sold EGP 30 bn-worth of the certificates thus far, Chairman Mohamed El Etreby told <a href=\"https:\/\/bit.ly\/2VtNn49\">Hapi Journal<\/a>. The state-owned banks began offering the certificates on 22 March to maintain cash liquidity in EGP.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking-finance\/\">BANKING + FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/national-bank-of-egypt\/\">National Bank of Egypt<\/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=\"571003\" 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=\"571003\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Other Business News of Note<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/\">\r\n                            Egypt\u2019s Suez Canal Economic Zone proposes new investor incentives                        <\/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\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/\" 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\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/')\">\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\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/\">\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\u2019s Suez Canal Economic Zone proposes new investor incentives&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/\">\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\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/&title=Egypt\u2019s Suez Canal Economic Zone proposes new investor incentives\">\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%E2%80%99s+Suez+Canal+Economic+Zone+proposes+new+investor+incentives+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F26%2Fegypts-suez-canal-economic-zone-proposes-new-investor-incentives%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\/26\/egypts-suez-canal-economic-zone-proposes-new-investor-incentives\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571003\" class=\"content-area-description single-story post-571003 post type-post status-publish format-standard hentry category-other-business-news-of-note tag-enterpriseam tag-investment-watch tag-manufacturing tag-other-business-news-of-note tag-suez-canal-economic-zone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Suez Canal Economic Zone (SCZone) has handed over a proposal to the Madbouly Cabinet to introduce new or improved investor incentives, <a href=\"https:\/\/bit.ly\/2zkx5SH\">SCZone Chairman Yehia Zaki said<\/a>, without providing further details. Zaki made no explicit link between the proposed new incentives structure and the covid-19 outbreak.<\/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\/investment-watch\/\">investment watch<\/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\/other-business-news-of-note\/\">Other Business News of Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"571005\" 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=\"571005\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/26\/the-market-yesterday-78\/\">\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\/26\/the-market-yesterday-78\/\" 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\/26\/the-market-yesterday-78\/')\">\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\/26\/the-market-yesterday-78\/\">\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\/26\/the-market-yesterday-78\/\">\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\/26\/the-market-yesterday-78\/&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%2F26%2Fthe-market-yesterday-78%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\/26\/the-market-yesterday-78\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571005\" class=\"content-area-description single-story post-571005 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): 10,120 (+3.3%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.1 bn (69% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -27.5%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session up 3.3%. CIB, the index\u2019s heaviest constituent, ended up 3.8%. EGX30\u2019s top performing constituents were Dice up 11.8%, Pioneers Holding up 8.4%, and GB Auto up 6.7%. Thursday\u2019s worst performing stock was Credit Agricole down 0.1%. The market turnover was EGP 1.1 bn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -112.1 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +38.0 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +74.2 mn<\/p>\n<p><strong>Retail<\/strong>: 62.9% of total trades | 63.8% of buyers | 62.0% of sellers<br \/>\n <strong>Institutions<\/strong>: 37.1% of total trades | 36.2% of buyers | 38.0% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 16.94 (+2.67%)<br \/>\n <strong>Brent:<\/strong> USD 21.44 (+0.52%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.75 MMBtu, (-3.80%, May 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,735.60 \/ troy ounce (-0.56%)<\/p>\n<p><strong>TASI:<\/strong> 6,604.90 (+0.97%) (YTD: -21.27%)<br \/>\n <strong>ADX:<\/strong> 4,062.99 (+1.90%) (YTD: -19.95%)<br \/>\n <strong>DFM:<\/strong> 1,891.60 (+1.55%) (YTD: -31.60%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,025.11 (-0.97%)<br \/>\n <strong>QE:<\/strong> 8,473.21 (-0.32%) (YTD: -18.73%)<br \/>\n <strong>MSM:<\/strong> 3,482.08 (+0.94%) (YTD: -12.54%)<br \/>\n <strong>BB: <\/strong>1,307.59 (-0.07%) (YTD: -18.79%)<\/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=\"571006\" 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\/26\/571006\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571006\" class=\"content-area-description single-story post-571006 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>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>14 May (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>23 May (Saturday): Earliest date on which suspension of international flights to \/ from Egypt expires.<\/p>\n<p>23 May (Saturday): Earliest date by which restaurants, gyms, nightclubs, museums and archaeological sites will reopen.<\/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>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>30 June (Sunday): Anniversary of the June 2013 protests, 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":570977,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-570976","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ca5bf472-0079-4398-8c5e-6eeda90e0952","teaser":"","photo_url":"https:\/\/ent.news\/2020\/4\/209.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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