{"id":571084,"date":"2020-04-29T04:06:43","date_gmt":"2020-04-29T04:06:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=571084"},"modified":"2025-12-16T07:49:01","modified_gmt":"2025-12-16T07:49:01","slug":"is-the-rate-of-doubling-of-new-infections-slowing","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/is-the-rate-of-doubling-of-new-infections-slowing\/","title":{"rendered":"Is the rate of doubling of new infections slowing?"},"content":{"rendered":"<section id=\"571086\" 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=\"571086\">\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\/29\/what-were-tracking-on-29-april-2020\/\">\r\n                            What we\u2019re tracking on 29 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\/29\/what-were-tracking-on-29-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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Moreover: These are just a couple of data points. And math is \u2026 hard. Especially in the pre-dawn hours. But:<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>It appears the rate of doubling of infections in Egypt may be slowing. <\/strong>It took 13 days for total cases to double to 5,042 yesterday \u2014 but only 10 days for them to double to 2,505 between 5 April and 15 April.<\/p>\n<p><strong>The rate at which deaths are doubling is just about unchanged:<\/strong> It took 12 days for deaths to double to 183 from 94 and then 13 days for them to double again to 359 yesterday \u2014 which follows the pattern globally of deaths being a \u201ctrailing indicator.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Thing we\u2019re pondering this morning #1- Why some countries have been ravaged by the <\/strong><strong>coronavirus and others \u2026 simply haven\u2019t. <\/strong>start with <a href=\"https:\/\/www.politico.eu\/article\/how-portugal-became-europes-coronavirus-exception\/\">How Portugal became Europe\u2019s coronavirus exception<\/a> in Politico and then move on to <a href=\"https:\/\/www.nytimes.com\/2020\/04\/28\/world\/europe\/sweden-coronavirus-herd-immunity.html\">\u2018Life has to go on\u2019: How Sweden has faced the virus without a lockdown<\/a> in the New York Times. Cap it off with <a href=\"https:\/\/www.ft.com\/content\/e9cf5ed0-a590-4bd6-8c00-b41d0c4ae6e0\">Low Covid-19 death toll raises hopes Africa may be spared worst<\/a> in the Financial Times, which essentially boils down to (our summary): \u201cCovid-19 hasn\u2019t yet messed up Africa. We don\u2019t know why. But it could.\u201d<\/p>\n<p><strong>Thing we\u2019re pondering this morning #2- Is the coronavirus going to accelerate the <\/strong><strong>concentration of economic power in the hands of mega-corporations? <\/strong>The essential reading for starters: <a href=\"https:\/\/www.nytimes.com\/2020\/04\/28\/business\/coronavirus-stocks.html?referringSource=articleShare\">Investors think giant companies will dominate after crisis<\/a> in the NYT.<\/p>\n<p><strong>Have we reached peak corona? Or at least peak 2020? <\/strong>Not in the epidemiological sense, but when this is a headline in the New York Times\u2026 <strong><a href=\"https:\/\/www.nytimes.com\/2020\/04\/27\/us\/cat-throw-zoom-meeting-chris-platzer.html?referringSource=articleShare\">Commissioner resigns after he threw a cat during Zoom meeting<\/a><\/strong>.<\/p>\n<p><strong>Also: <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/interactive\/2020\/04\/27\/magazine\/stephen-king-interview.html?referringSource=articleShare\">There\u2019s never a bad time to read an interview with Stephen King<\/a><\/strong> \u2014 horror master, social observer and the most under-rated literary genius of our age (after, perhaps, John Grisham).<\/p>\n<hr class=\"grey-line\">\n<p><strong>The markets today:<\/strong> Asian shares are largely in the green this morning, while futures point to a similar trend at the opening bell in Europe and the United States later today. The EGX30 climbed 0.4% yesterday in very heavy trading. The benchmark index is now down 25.4% since the start of the year.<\/p>\n<p><strong>So, when do we eat? <\/strong>Maghrib prayers are at 6:31pm and you\u2019ll have until 3:39am to finish caffeinating. Fajr is coming one minute earlier every day through the end of the Holy Month.<\/p>\n<p><strong>COVID-19 IN EGYPT-<\/strong><\/p>\n<p><strong>Egypt reported on Tuesday its highest-yet single-day count of deaths and new infections. <\/strong>Egypt has now identified a total of 5,042 confirmed cases of covid-19 after <a href=\"https:\/\/bit.ly\/2SiKWj7\">the Health Ministry reported<\/a> 260 new infections yesterday. The ministry also said that another 22 people had died from the virus, taking the death toll to 359. We now have a total of 1,669 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 1,304 have fully recovered.<\/p>\n<p><strong>MPs are lobbying the Health Ministry to allow private labs to provide covid-19 testing<\/strong> under government supervision, <a href=\"https:\/\/bit.ly\/2zFCrbo\">according to Youm7<\/a>. Our representatives\u2019 (very sensible) proposal is meant to widen the country\u2019s testing capacity \u2014 particularly for asymptomatic cases \u2014 since the ministry\u2019s testing is currently limited to symptomatic cases and contact tracing.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The Manpower Ministry is resuming the issuance of work permits for foreign residents<\/strong>, according to <a href=\"https:\/\/bit.ly\/2VK1x17\">state news agency MENA<\/a>. It will be issuing proof-of-employment documents and offering services for day laborers. The story does not make clear the date on which services resume.<\/p>\n<p><strong>You can renew your car license starting on Sunday<\/strong>, <a href=\"https:\/\/www.facebook.com\/MoiEgy\/photos\/a.181676241876047\/2977005412343102\/?type=3&theater\">the Interior Ministry said<\/a> yesterday as the Madbouly government continues to bring some citizen services back online. The move came after Traffic Police offices resumed issuance of new car licenses this week.<\/p>\n<p><strong>General Motors and Nissan Egypt are resuming operations at assembly plants<\/strong> now that new licenses are once again being issued., <a href=\"https:\/\/bit.ly\/3bMDHHJ\">according to Al Mal<\/a>.<\/p>\n<p><strong>MPs are suggesting summer vacations should be canceled for judges<\/strong> who they think should stay on the bench to address the backlog of cases that has accumulated since the beginning of the outbreak, according to<a href=\"https:\/\/bit.ly\/35ddDTB\">Al Mal<\/a>.<\/p>\n<p><strong>FinMin pushes start date of mandatory electronic payments for healthcare services:<\/strong> The Finance Ministry will allow citizens to pay for public healthcare services either electronically or in cash until the partial lockdown restrictions are lifted, according to <a href=\"https:\/\/bit.ly\/2Sf9qto\">a ministry statement<\/a>. Under the <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/28\/contractors-compensation-act-high-on-madbouly-cabinet-agenda\/\">Government Accounting Act<\/a>, a ban on the use of cash or paper cheques for transactions above EGP 500 was set to come into effect on 23 April, but the ministry has decided to push the start date due to current conditions.<\/p>\n<p><strong>148 Egyptians were repatriated from Indonesia and Oman yesterday<\/strong> on an Air Cairo flight that landed at the Marsa Alam International Airport, <a href=\"https:\/\/bit.ly\/3cQuRJ2\">Al Mal reports<\/a>, citing Civil Aviation Ministry sources. A ferry has also transported 150 citizens <a href=\"https:\/\/bit.ly\/2y7TcLS\">from Saudi Arabia<\/a>, while <a href=\"http:\/\/gate.ahram.org.eg\/News\/2401034.aspx\">three other flights<\/a> are due tomorrow to repatriate expats and travelers stranded in Oman, the Maldives, France, and Nigeria.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Egypt has access to more funding from multilateral lenders if we need it, says Al Mashat:<\/strong> The European Investment Bank is ready to ramp up its lending to Egypt\u2019s banks and private sector, particularly those in the pharma sector, International Cooperation Minister Rania Al Mashat said, <a href=\"https:\/\/bit.ly\/3aLYom3\">according to a cabinet statement<\/a>. The minister also noted the European Bank for Reconstruction and Development has expanded its short-term liquidity funding package for its Southern and Eastern Mediterranean countries (including Egypt). Al Mashat\u2019s statement comes after the government announced it is formally seeking a funding package from the IMF, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8321e1c8-48bf-428a-9d60-5ccb9c91d648\">the minister said at the time<\/a> is the most cost-effective option on the table since it\u2019s from a multilateral lender.<\/p>\n<p><strong>Egypt\u2019s VC outfits put new investment on ice:<\/strong> Egypt\u2019s venture capital funds are riding out the corona crisis by shoring up their companies and holding off on new investments, <a href=\"https:\/\/www.zawya.com\/mena\/en\/wealth\/story\/COVID19_Egypt_investors_withhold_funds_but_not_for_long-ZAWYA20200428054848\/\">Zawya reports<\/a>. Algebra Ventures and Himangel are both focused on protecting existing investments and don\u2019t anticipate any new transactions for at least a few months.<\/p>\n<p><strong>But industry leaders are cautiously optimistic about a tech-led rebound:<\/strong> Algebra Ventures founding partner Ziad Mokhtar believes that tech startups will end up benefiting from an influx of talent from hard-hit corporates and recent changes to consumer behavior. With all its downsides, Mokhtar expects the crisis to boost the digital economy and speed up \u201cmigration to digital platforms.\u201d<\/p>\n<p><strong>The Alexandria Business Association is asking its members on the impact of covid-19 is <\/strong><strong>having on their businesses and their outlook for 2020.<\/strong> The questions they are asking are intended to identify the challenges Egyptian business may face as a result of covid-19 crisis and their needs to survive until the end of 2020. Want to give the ABA your two cents? You can <a href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSdP5dJxq127pP3kjCGs4UyZaksAifqPvu-HjHFu8JtFYUX1hg\/viewform\">find the questions here.<\/a><\/p>\n<p><strong>Our friends at AmCham are out with three new research notes on how the pandemic is <\/strong><strong>affecting the Egyptian economy<\/strong> and how the government has responded: <a href=\"https:\/\/www.amcham.org.eg\/information-resources\/covid-19-response\/egypt-policy-responses-to-covid-19-mena-market-comparisons-and-possible-recommendations-by-amcham-egypt\">Egypt\u2019s Policy Responses to Covid-19<\/a> | <a href=\"https:\/\/www.amcham.org.eg\/information-resources\/covid-19-response\/covid-19-impact-an-overview-of-sectors-at-risk\">An Overview of Sectors at Risk<\/a> | <a href=\"https:\/\/www.amcham.org.eg\/information-resources\/covid-19-response\/covid-19-impacts-on-egypts-transportation-sector\">Impacts on Egypt\u2019s Transportation Sector<\/a>.<\/p>\n<p><strong>AmCham is also hosting a series of webinars on covid-19 over the next few weeks<\/strong>, starting with a webinar on Sunday, 3 May on international finance institutions\u2019 support for countries to navigate the pandemic. The webinar will feature: Khalid Hamza (deputy head of the EBRD\u2019s Egypt office), Marina Wes (World Bank country director), Walid Labadi (IFC country manager), Sherry Carlin (USAID mission director) and Denys Denya (AfreximBank executive vice president).<\/p>\n<p><strong>DONATIONS- <\/strong><\/p>\n<p><strong>Bel Egypt, La Vache Qui Rit\u2019s parent company, is donating EGP 4 mn<\/strong> for day laborers through the Egyptian Food Bank and Resala, <a href=\"https:\/\/bit.ly\/3bOOfX4\">according to Hapi Journal<\/a>. The company <a href=\"https:\/\/bit.ly\/2KJFYrg\">has also committed<\/a> to contributing a portion of La Vache Qui Rit\u2019s revenues for the next two months to support day laborers and is teaming up with Al Shifa Bank to cover respirator maintenance costs at quarantine facilities.<\/p>\n<p><strong>ON THE GLOBAL FRONT-<\/strong><\/p>\n<p><strong>Dubai is hoping to reopen for tourism in early July<\/strong>, the director of its principal tourism authority <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-28\/dubai-likely-to-start-opening-for-tourists-at-beginning-of-july?srnd=premium-middle-east&sref=mmeFTDW1\">told Bloomberg<\/a>. The move comes amid analyst expectations that the emirate could be particularly <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-28\/moody-s-says-dubai-at-risk-as-virus-poses-shock-to-u-a-e-eonomy?srnd=premium-middle-east&sref=mmeFTDW1\">hard hit<\/a> by fallout from the coronavirus.<\/p>\n<p><strong>Saudi Arabia has drawn down on its reserves at the fastest pace in 20 years<\/strong>, \u201cshowing the severity of the damage inflicted on public finances by the slump in oil prices,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-28\/saudi-central-bank-fx-reserves-plunge-27-billion-in-march?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p>\n<p><strong>Uber could be laying off as much as 20% of its full-time workforce<\/strong>, letting go of up to 5.4k of its 27k employees, <a href=\"https:\/\/www.theinformation.com\/articles\/uber-discusses-plan-to-lay-off-about-20-of-employees?utm_content=article-4424&utm_campaign=article_email&utm_source=sg&utm_medium=email\">The Information<\/a> reports in an exclusive. \u201cThe ride-hailing provider\u2019s core business in recent weeks is down about 80% compared to the same period last year as widespread stay-at-home orders have wiped out demand for its services,\u201d the tech-focused publication writes.<\/p>\n<p><strong>British Airways is about to lay off 30% of its workforce<\/strong>, saying the aviation industry is \u201cseveral years\u201d away from recovery, <a href=\"https:\/\/www.ft.com\/content\/8529c498-fbf1-4eca-a468-9b26b4ec7a97\">the FT writes<\/a>.<\/p>\n<p><strong>The pandemic has postponed the implementation of the African Continental<\/strong><strong> Freetrade Agreement (AfCFTA) <\/strong>from the original date of 1 July over covid-19 disruptions, AfCTA secretary General Wamkele Mene said during a press conference, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFS8N245019\">according to Reuters<\/a>. Once active, the agreement <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/19\/correctly-implementing-afcfta-could-unlock-usd-3-tn-worth-of-growth-across-the-continent-6552\/\">could potentially unlock<\/a> USD 3 tn-worth of growth across the continent and increase intra-African trade by 52.3%, while also drawing more foreign direct investment.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Does<\/strong> <strong>economic fallout mean deflation\u2026?<\/strong> The collapse in consumption demand in the US means that the Fed\u2019s ongoing Open Market Committee meeting could see discussion of a disastrous scenario in which prices could actually start falling, <a href=\"https:\/\/www.ft.com\/content\/6101eb0c-b63f-4b80-add4-b8ad20f94040\">according to the Financial Times<\/a>. Deflation or very low inflation \u201cis the clear call for the next 18 months,\u201d the FT quoted chief US economist at TS Lombard as saying.<\/p>\n<p><strong>\u2026 or inflation?<\/strong> <a href=\"https:\/\/www.axios.com\/coronavirus-recession-rising-inflation-ed4728b2-9298-4546-8b46-7cc5c21f7269.html\">A contrasting piece from Axios<\/a> notes that the real concern is potentially accelerating inflation, which could force the Fed to raise interest rates, and lead to an equally problematic situation of stagflation, in which prices still increase despite a recessionary environment.<\/p>\n<hr class=\"grey-line\">\n<p><strong>More banks and corporates were out with 1Q2020 earnings<\/strong> in this closely watched reporting season: <\/p>\n<ul>\n<li><strong>HSBC <\/strong><strong><a href=\"https:\/\/www.hsbc.com\/-\/files\/hsbc\/investors\/hsbc-results\/2020\/1q\/hsbc-holdings-plc\/200428-1q-2020-earnings-release.pdf?download=1\">reported a 48% decline in pre-tax profit (pdf)<\/a><\/strong> as it had put aside USD 3 bn in provisions against failing loans due to the pandemic (<a href=\"https:\/\/www.reuters.com\/article\/us-hsbc-hldg-results\/hsbc-sees-mounting-credit-losses-after-pandemic-halves-first-quarter-profit-idUSKCN22A0EF\">Reuters<\/a>\ufe31<a href=\"https:\/\/www.cnbc.com\/2020\/04\/28\/hsbc-reports-first-quarter-2020-earnings-amid-coronavirus-pandemic.html\">CNBC<\/a>).<\/li>\n<li><strong>UBS\u2019 <\/strong><strong><a href=\"https:\/\/www.ubs.com\/global\/en\/investor-relations\/financial-information\/quarterly-reporting.html\">quarterly net profits<\/a><\/strong><strong> increased 40% y-o-y<\/strong> as the Swiss outfit\u2019s wealth management and investment banking divisions held firm against last month\u2019s \u201cmarket turmoil\u201d (<a href=\"https:\/\/www.ft.com\/content\/682922f5-ca21-499c-9c87-62f8f9db48d2\">FT<\/a>\ufe31<a href=\"https:\/\/www.cnbc.com\/2020\/04\/28\/ubs-earnings-q1-2020.html\">CNBC<\/a>).<\/li>\n<li><strong>Google parent company Alphabet reported a 13% y-o-y uptick in revenues to USD 41.2 bn<\/strong>, driven by strong performance in January and February that was somewhat dampened by a sudden slump in advertising revenue in March as clients cut spending to mitigate the impact of covid-19, <a href=\"https:\/\/abc.xyz\/investor\/static\/pdf\/2020Q1_alphabet_earnings_release.pdf?cache=4690b9f\">according to its quarterly earnings report (pdf)<\/a>.<\/li>\n<\/ul>\n<p><strong>Black swan funds up nearly 60% in rare chance to thrive: <\/strong>Funds that seek to profit from crises \u2014 so-called black swan funds \u2014 have gained 57.2% so far in the year, but the party is a \u201crare chance,\u201d <a href=\"https:\/\/www.ft.com\/content\/602c45e1-219c-49b2-ab17-9b47791fd038\">says the FT<\/a>. The hedge funds, which hunt for surprise major events that cause \u201cmarkets to crumple,\u201d are still down by an average 24% from 2008 to today, despite having three crises to profit from since then, notes the salmon-colored paper.<\/p>\n<hr class=\"grey-line\">\n<p><strong>EGYPT BEYOND COVID- <\/strong><\/p>\n<p><strong>The House of Representatives has a busy schedule ahead next week:<\/strong><\/p>\n<ul>\n<li><strong>State of emergency hearing:<\/strong> Prime Minister Mostafa Madbouly will address the House on Sunday to justify his government\u2019s three-month extension of the state of emergency, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=28042020&id=6392ff56-c164-4600-8a98-3daa70b6c7e4\">according to Al Shorouk<\/a>.<\/li>\n<li><strong>State budget:<\/strong> The House Planning and Budget will begin its discussion of the draft FY2020-2021 state budget on Sunday, <a href=\"https:\/\/bit.ly\/2YemXFx\">according to Youm7<\/a>. You can refresh your memory on the key parts of the budget <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/534d27dd-1a99-4ffd-8382-86ca774067ea\">here<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46c6f7bf-9fae-4c8a-8c97-66e52a1e9c09\">here<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0557143-d132-4f80-a888-edd3c67085c5\">here<\/a>.<\/li>\n<li><strong>Unified Tax Law:<\/strong> The House Planning and Budgeting Committee will continue discussing the Unified Tax Law, which would create a single platform for filing income tax, stamp tax and VAT returns, sometime next week, <a href=\"https:\/\/bit.ly\/35ca8gt\">according to Al Mal<\/a>.<\/li>\n<\/ul>\n<p><strong>The government has purchased some 578k tonnes of wheat from local farmers<\/strong> since the beginning of the harvest season on 15 April, the <a href=\"https:\/\/bit.ly\/2SblyvB\">Supply Ministry said<\/a> yesterday. The ministry expects to harvest 3.6 mn tonnes of the crop this season.<\/p>\n<hr class=\"grey-line\">\n<p><strong>AND THE REST OF THE WORLD-<\/strong><\/p>\n<p><strong>Libyan National Army chief Gen. Khalifa Haftar and his forces moved to take control of <\/strong><strong>the country on Monday<\/strong>, with Haftar saying he was accepting a \u201cpopular mandate\u201d to rule, <a href=\"https:\/\/www.reuters.com\/article\/us-libya-security-russia\/russia-still-committed-to-diplomatic-process-in-libya-after-haftar-power-grab-idUSKCN22A11Z\">Reuters reports<\/a>. Haftar and the LNA, supported by Egypt, Russia and the UAE, have for years been in conflict with the internationally recognized Government of National Accord (GNA), with Libya split into areas controlled by the GNA in Tripoli and the northwest and areas held by the LNA in Benghazi.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>We look at how the covid-19 crisis is impacting infrastructure-related and dependent startups. While the crisis has been a shot in the arm (no pun intended) for businesses turning to digitization, we\u2019re noticing that startups in the infrastructure sphere that are succeeding are the ones that are minimizing reliance on physical infrastructure and personal interactions.<\/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\/air-cairo\/\">Air Cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algebra-ventures\/\">Algebra Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alphabet\/\">Alphabet<\/a>\n                <!-- 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stk-block-column__content stk-container stk-sds5lk2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-sds5lk2-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\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div 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   <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\/29\/ahmed-moussa-suggests-egypt-is-looking-to-get-usd-7-bn-from-the-imf\/\">\r\n                            Ahmed Moussa suggests Egypt is looking to get USD 7 bn from the IMF                        <\/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\/29\/ahmed-moussa-suggests-egypt-is-looking-to-get-usd-7-bn-from-the-imf\/\" 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\/29\/ahmed-moussa-suggests-egypt-is-looking-to-get-usd-7-bn-from-the-imf\/')\">\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\/29\/ahmed-moussa-suggests-egypt-is-looking-to-get-usd-7-bn-from-the-imf\/\">\n                    Facebook                    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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=Ahmed+Moussa+suggests+Egypt+is+looking+to+get+USD+7+bn+from+the+IMF+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F29%2Fahmed-moussa-suggests-egypt-is-looking-to-get-usd-7-bn-from-the-imf%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\/29\/ahmed-moussa-suggests-egypt-is-looking-to-get-usd-7-bn-from-the-imf\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571088\" class=\"content-area-description single-story post-571088 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-debt tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>On another very quiet night on the airwaves<\/strong>, the only tidbit of relevant discussion was \u2026 significant.<\/p>\n<p><strong>Egypt is reportedly seeking north of USD 7 bn from the IMF<\/strong> under the one-year rapid financing instrument and stand-by arrangement the government has requested, \u2018Ala Mas\u2019ouleety host Ahmed Moussa claimed. Moussa also claimed that the first USD 2.7 bn tranche of the funding will land as early as 10 May, with the second tranche set to follow in June (<a href=\"https:\/\/www.youtube.com\/watch?v=YKbJitAnhrc\">watch, runtime: 4:19<\/a>). An unnamed government official had said earlier this week that the package would likely be closer to the USD 3 bn neighborhood, and analysts expect the figure to range between EGP 2.8 bn and USD 4 bn.<\/p>\n<p><strong>We\u2019re still going to take all this with a grain of salt<\/strong>, partially because cretin \/ host Ahmed Moussa incorrectly told his viewers that the IMF executive board has already approved Egypt\u2019s request for funding. The IMF has only confirmed that Egypt submitted a request for funding, and <a href=\"https:\/\/www.imf.org\/external\/NP\/SEC\/bc\/eng\/index.aspx\">the board\u2019s calendar<\/a> for the next seven days does not include a discussion of our request.<\/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\/debt\/\">debt<\/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\/imf\/\">IMF<\/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=\"571089\" 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=\"571089\">\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\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/\">\r\n                            Still up 2% against the USD for the year, Reuters wonders whether EGP\u2019s \u201ccoronavirus immunity\u201d could \u201cwane.\u201d                        <\/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\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/\" 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\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/')\">\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\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/\">\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=Still up 2% against the USD for the year, Reuters wonders whether EGP\u2019s \u201ccoronavirus immunity\u201d could \u201cwane.\u201d&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/\">\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\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/&title=Still up 2% against the USD for the year, Reuters wonders whether EGP\u2019s \u201ccoronavirus immunity\u201d could \u201cwane.\u201d\">\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=Still+up+2%25+against+the+USD+for+the+year%2C+Reuters+wonders+whether+EGP%E2%80%99s+%E2%80%9Ccoronavirus+immunity%E2%80%9D+could+%E2%80%9Cwane.%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F29%2Fstill-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane%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\/29\/still-up-2-against-the-usd-for-the-year-reuters-wonders-whether-egps-coronavirus-immunity-could-wane\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571089\" class=\"content-area-description single-story post-571089 post type-post status-publish format-standard hentry category-speed-round tag-covid-19 tag-enterpriseam tag-monetary-policy tag-speed-round 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>Still up 2% against the USD for the year, Reuters wonders whether EGP\u2019s \u201ccoronavirus <\/strong><strong>immunity\u201d could \u201cwane.\u201d <\/strong>The EGP \u201chas been a rare riser among emerging market currencies beaten down by the coronavirus fallout, but pressure is growing on it to weaken,\u201d <a href=\"https:\/\/www.reuters.com\/article\/uk-health-coronavirus-egypt-currency-ana\/egyptian-pounds-initial-coronavirus-immunity-seen-waning-idUSKCN22A28F\">Reuters<\/a><a href=\"https:\/\/www.reuters.com\/article\/uk-health-coronavirus-egypt-currency-ana\/egyptian-pounds-initial-coronavirus-immunity-seen-waning-idUSKCN22A28F\">suggests<\/a> after speaking with analysts and bankers.<\/p>\n<p><strong>Where\u2019s the pressure coming from:<\/strong> The country\u2019s top FX earners, including remittances and tourism, are under pressure amid a global storm, potentially limiting policymakers\u2019 ability to help maintain FX-rate stability as Egypt looks for an IMF facility \u2014 and faces outflows of portfolio investment in the global risk-off. Reserves hit a two-year low of USD 40.1 bn in March after the CBE drew down USD 5.4 bn in response to the shockwaves roiling the global economy. The bank used the reserves to \u201cpartially cover foreign portfolio investment outflows through the CBE\u2019s FX repatriation mechanism and accommodate for the domestic market\u2019s foreign currency needs to import strategic goods, as well as for the repayment of external debt service obligations,\u201d <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0afff7d1-dbb9-42a8-a855-28a2261272e7\">the CBE said<\/a>.<\/p>\n<p><strong>\u201cRisks have increased of some near-term adjustment,\u201d<\/strong> Goldman Sachs MENA economist Farouk Soussa tells the newswire. \u201cWe have heard concerns that a new IMF programme may require greater EGP flexibility in the medium term as well, but the evidence would suggest that EGP stability and an IMF programme are not mutually incompatible.\u201d<\/p>\n<p><strong>The EGP has so far been one of the few EM currencies to hold its ground in 2020<\/strong>, while the MXN and ZAR are each down c. 20%. The EGP has been steady at around 15.69 against the greenback since last month.<\/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\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571099\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571100\" 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=\"571100\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/\">\r\n                            How much have the world\u2019s bn\u2019aires donated to covid-19 efforts                        <\/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\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/\" 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\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/')\">\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\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/\">\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=How much have the world\u2019s bn\u2019aires donated to covid-19 efforts&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/\">\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\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/&title=How much have the world\u2019s bn\u2019aires donated to covid-19 efforts\">\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=How+much+have+the+world%E2%80%99s+bn%E2%80%99aires+donated+to+covid-19+efforts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F29%2Fhow-much-have-the-worlds-bnaires-donated-to-covid-19-efforts%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\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/251.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571101\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/251-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/251.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"251.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/251.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/251.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571100\" class=\"content-area-description single-story post-571100 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-covid-19 tag-enterpriseam tag-image-of-the-day wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Surprise: Bn\u2019aires<\/strong> <strong>aren\u2019t dishing out huge chunks of their wealth for covid-19 support. <\/strong>Twitter CEO Jack Dorsey is somewhat of an outlier among bn\u2019aires\u2019 covid-19 donations, dishing out nearly 25% of his net worth, according to this <a href=\"https:\/\/www.visualcapitalist.com\/richest-people-in-the-world\/\">Visual Capitalist infographic<\/a>. As a share of his wealth, Dorsey\u2019s donation is larger than the next nine largest donations from the world\u2019s ultra-wealthy \u2014 combined.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/image-of-the-day\/\">IMAGE OF THE DAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571102\" 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=\"571102\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/egypt-in-the-news-on-29-april-2020\/\">\r\n                            Egypt in the news on 29 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\/29\/egypt-in-the-news-on-29-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\/29\/egypt-in-the-news-on-29-april-2020\/')\">\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\/29\/egypt-in-the-news-on-29-april-2020\/\">\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 in the news on 29 April 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/egypt-in-the-news-on-29-april-2020\/\">\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\/29\/egypt-in-the-news-on-29-april-2020\/&title=Egypt in the news on 29 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+29+April+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F29%2Fegypt-in-the-news-on-29-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\/29\/egypt-in-the-news-on-29-april-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571102\" class=\"content-area-description single-story post-571102 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-egypt-in-the-news tag-enterpriseam tag-politics tag-tiktok tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>On another blessedly quiet morning for Egypt in the foreign press<\/strong>, a handful of headlines to skim:<\/p>\n<ul>\n<li><strong>Halan founder Mounir Nakhla talks to CNN\u2019s African Startup<\/strong> about how the ride-hailing app is reaching Egypt\u2019s \u201cunderserved communities\u201d (<a href=\"https:\/\/edition.cnn.com\/videos\/tv\/2020\/04\/28\/made-in-egypt-african-startup-mounir-nakhla-halan-spc-intl.cnn\">watch, runtime: 2:35<\/a>)<\/li>\n<li>CNN Travel is taking note of a <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c092dd42-c4fd-48ad-8a04-494581bcc009\">recently unearthed shaft<\/a><\/strong><strong> at Saqqara\u2019s Sacred Animals<\/strong><strong> Necropolis<\/strong>.<\/li>\n<li><strong>MPs are calling for stricter controls on video sharing apps<\/strong> following the arrest of a belly dancer and a TikTok influencer on charges of debauchery,<a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N2CG0L9\">Reuters reported<\/a>.<\/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\/ancient-egypt\/\">Ancient Egypt<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tiktok\/\">Tiktok<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571103\" 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=\"571103\">\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\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/why-stock-market-gains-barely-signal-an-economic-recovery\/\">\r\n                            Why stock market gains barely signal an economic recovery                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/252.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571104\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/why-stock-market-gains-barely-signal-an-economic-recovery\/252-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/252.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"252.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/252.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/252.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571103\" class=\"content-area-description single-story post-571103 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-10336 tag-employment tag-enterpriseam tag-sp tag-worth-watching 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>Scratching your head over how US stocks are showing gains while unemployment <\/strong><strong>soars?<\/strong> This FT explainer breaks down why you should exercise some caution in assessing the health of the US economy while the S&P 500 surges. Much of stock market recovery seen in recent months is attributable to localized gains in the tech and healthcare sectors, huge central bank stimulus, and widespread optimism that the economy will rebound quickly after the lockdown restrictions are lifted <a href=\"https:\/\/www.youtube.com\/watch?v=a7CGxq12DNU\">(watch runtime 2:37)<\/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\/500\/\">500<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp\/\">S&amp;P<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-watching\/\">worth watching<\/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=\"571105\" 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=\"571105\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/\">\r\n                            Egypt\u2019s garments exports fall in 1Q to USD 372 mn                        <\/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\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/\" 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\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/')\">\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\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/\">\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 garments exports fall in 1Q to USD 372 mn&url=https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/\">\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\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/&title=Egypt\u2019s garments exports fall in 1Q to USD 372 mn\">\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+garments+exports+fall+in+1Q+to+USD+372+mn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F04%2F29%2Fegypts-garments-exports-fall-in-1q-to-usd-372-mn%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\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571105\" class=\"content-area-description single-story post-571105 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-enterpriseam tag-germany tag-textiles tag-trade tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt's garments exports dipped 8% y-o-y in 1Q2020 to USD 372 mn<\/strong>, according to a Textiles Export Council report <a href=\"https:\/\/bit.ly\/2YgE6hI\">picked up by Mubasher<\/a>. Despite the decline, the US remained Egypt's top export market, accounting alone for USD 206 mn-worth of imports. Germany and Spain follow in the second and third spots.<\/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\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/textiles\/\">textiles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571109\" 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=\"571109\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/the-market-yesterday-81\/\">\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\/29\/the-market-yesterday-81\/\" 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\/29\/the-market-yesterday-81\/')\">\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\/29\/the-market-yesterday-81\/\">\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\/29\/the-market-yesterday-81\/\">\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\/29\/the-market-yesterday-81\/&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%2F29%2Fthe-market-yesterday-81%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\/29\/the-market-yesterday-81\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571109\" class=\"content-area-description single-story post-571109 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> (Tuesday): 10,415 (+0.4%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.2 bn (80% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -25.4%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session up 0.4%. CIB, the index\u2019s heaviest constituent, ended down 0.5%. EGX30\u2019s top performing constituents were CIRA up 8.1%, Orascom Development Egypt up 6.5%, and Telecom Egypt up 5.4%. Yesterday\u2019s worst performing stocks were Credit Agricole down 10.2%, El Sewedy Electric down 5.0% and SODIC down 1.0%. The market turnover was EGP 1.2 bn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -102.8 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -11.4 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +114.2 mn<\/p>\n<p><strong>Retail<\/strong>: 70.6% of total trades | 71.8% of buyers | 69.4% of sellers<br \/>\n <strong>Institutions<\/strong>: 29.4% of total trades | 28.2% of buyers | 30.6% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 12.68 (-0.78%)<br \/>\n <strong>Brent:<\/strong> USD 20.60 (+3.05%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.79 MMBtu, (-1.37%, May 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,720.90 \/ troy ounce (-0.17%)<\/p>\n<p><strong>TASI:<\/strong> 6,884.82 (+0.84%) (YTD: -17.93%)<br \/>\n <strong>ADX:<\/strong> 4,220.58 (+1.21%) (YTD: -16.85%)<br \/>\n <strong>DFM:<\/strong> 1,997.67 (+0.58%) (YTD: -27.75%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,209.58 (+1.07%)<br \/>\n <strong>QE:<\/strong> 8,600.51 (+0.81%) (YTD: -17.51%)<br \/>\n <strong>MSM:<\/strong> 3,538.74 (+0.40%) (YTD: -11.11%)<br \/>\n <strong>BB: <\/strong>1,307.86 (-0.07%) (YTD: -18.78%)<\/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=\"571110\" 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\/29\/571110\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571110\" class=\"content-area-description single-story post-571110 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>1 May (Friday): National holiday in observance of Labour Day. <\/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>31 May (Sunday): <a href=\"https:\/\/hapijournal.com\/2020\/04\/28\/%d8%a2%d8%b1%d8%a7%d8%a8%d9%8a%d8%a7-%d8%a7%d9%86%d9%81%d8%b3%d8%aa%d9%85%d9%86%d8%aa%d8%b3-%d8%ad%d8%ac%d8%b2-%d8%af%d8%b9%d9%88%d9%89-%d8%a7%d9%84%d9%82%d8%a7%d9%87%d8%b1%d8%a9-%d9%84%d9%84%d8%aa-2\/\">A postponed court session<\/a> for the lawsuit filed by Cairo Development and Auto Industry, a subsidiary of Arabia Investment Holding, against Peugeot Automotive to demand EUR 150 mn compensation. <\/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":571085,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-571084","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b9089f60-0a65-4576-8de3-b9fa434ad740","teaser":"","photo_url":"https:\/\/ent.news\/2020\/4\/249.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is the rate of doubling of new infections slowing? 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