{"id":571197,"date":"2020-05-04T03:51:38","date_gmt":"2020-05-04T03:51:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=571197"},"modified":"2025-12-16T07:52:52","modified_gmt":"2025-12-16T07:52:52","slug":"ready-for-a-staycation-hotels-can-start-reopening-on-15-may","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/ready-for-a-staycation-hotels-can-start-reopening-on-15-may\/","title":{"rendered":"Ready for a staycation? Hotels can start reopening on 15 May."},"content":{"rendered":"<section id=\"571199\" 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=\"571199\">\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\/05\/04\/what-were-tracking-on-4-may-2020\/\">\r\n                            What we\u2019re tracking on 4 May 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\/05\/04\/what-were-tracking-on-4-may-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have full details on the state\u2019s drive to promote staycations in this morning\u2019s Speed Round, below.<\/p><p><strong>We\u2019re now at 3.5 mn cases of covid-19 globally<\/strong>, but the \u201crate of fatalities and new cases has slowed from peaks reached last month,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-global-cases\/global-coronavirus-cases-surpass-3-5-million-although-rate-slowing-idUSKBN22G00Z?il=0\">Reuters<\/a>\u2019 tells us, adding that, \u201cNorth America and European countries accounted for most of the new cases reported in recent days, but numbers were rising from smaller bases in Latin America, Africa and Russia.\u201d<\/p><p><strong>Predicting the Future #1- We\u2019ve been wondering aloud for some time why certain <\/strong><strong>countries are really hard hit by the virus <\/strong>that causes covid-19, while others \u2026 simply aren\u2019t. There are still no good answers. A recent roundup by the <a href=\"https:\/\/www.nytimes.com\/2020\/05\/03\/world\/asia\/coronavirus-spread-where-why.html?referringSource=articleShare\">New York Times<\/a> offers everything from genetics to demographics by way of government policy and simple luck as possible explanations.<\/p><p><strong>With prospects of a second, deadlier wave this fall (see: 1918, the pandemic of) and a <\/strong><strong>third <\/strong><strong>wave next year<\/strong>, we\u2019d all do well to keep in mind Harvard health expert Ashish Jha\u2019s words of wisdom, as American as they sound: \u201cWe are really early in this disease. If this were a baseball game, it would be the second inning and there\u2019s no reason to think that by the ninth inning the rest of the world that looks now like it hasn\u2019t been affected won\u2019t become like other places.\u201d<\/p><p><strong>Predicting the Future #2- What do markets want? <\/strong>The Financial Times argues that a pandemic-induced slump in demand and the Great Oil War of 2020 may have <strong><a href=\"https:\/\/www.ft.com\/content\/99fc40be-83aa-11ea-b872-8db45d5f6714\">hastened the approach of peak oil<\/a><\/strong>, while the Wall Street Journal notes that the earnings apocalypse and an unprecedented slowdown in global growth are \u201c<strong>so obscuring the outlook for financial markets that <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/stocks-keep-rallying-despite-lack-of-visibility-on-economy-11588498201\">some investors say it is as if they are flying blind<\/a><\/strong>.\u201d<\/p><p><strong>Oh, and the notion of immunity passports? <\/strong><a href=\"https:\/\/www.nytimes.com\/2020\/05\/03\/world\/europe\/coronavirus-antibodies-italy.html\">The science still doesn\u2019t back up the idea<\/a>. Still, Switzerland\u2019s Roche has gotten FDA approval for an antibody test for exposure to the virus that causes covid-19, according to a <a href=\"https:\/\/www.roche.com\/media\/releases\/med-cor-2020-05-03.htm\">company statement<\/a>. The company says it could have \u201chigh double-digit\u201d mns of tests ready to deploy this month.<\/p><hr class=\"grey-line\"><p><strong>The EGX30 closed down 3.4% yesterday <\/strong>as shares in Egypt caught up with the Friday sell-off in US markets \u2014 and were dragged down by a slump in regional equities led by Saudi Arabia, where the Tadawul plunged 7.4%. Saudi\u2019s main index tumbled after the kingdom\u2019s finance minister said over the weekend that <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/saudi-stocks-slump-as-minister-warns-of-painful-measures-ahead?srnd=premium-middle-east&amp;sref=mmeFTDW1\">strict fiscal measures<\/a> would be needed to face down fallout from covid-19 and the recent slump in oil prices.<\/p><p><strong>M<\/strong><strong>arkets today: <\/strong>It\u2019s the start of the trading week in global markets, and shares in South Korea, Hong Kong, and Japan opened sharply lower amid fears that tensions between Beijing and Washington are again flaring after the US alleged the virus that causes covid-19 originated in a Chinese research lab (we have more on this below). Chinese shares were up as we headed toward dispatch this morning, while <strong>futures point to US and European equities opening in the red <\/strong>later today.<\/p><p><strong>We have more on what the month of May could have in store for global stocks<\/strong> and risky assets in this morning\u2019s Macro Picture, below.<\/p><hr class=\"grey-line\"><p><strong>So, when do we eat? <\/strong>Maghrib prayers are at 6:34pm and you\u2019ll have until 3:33am to finish caffeinating. Fajr is coming one minute earlier every day through the end of the Holy Month.<\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><strong>Egypt has now disclosed a total of 6,465 confirmed cases of covid-19<\/strong> after the Health Ministry reported 272 new infections yesterday. The ministry also said that another 14 people had died from the virus, taking the death toll to 429. We now have a total of 2,041 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 1,562 have fully recovered.<\/p><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>EBRD could open lines of credit worth a combined USD 850 mn for five unnamed local <\/strong><strong>banks as part of covid-19 assistance package <\/strong>that would help plug liquidity gaps and support SMEs and businesses in industries hard-hit by covid-19, <a href=\"https:\/\/bit.ly\/2Sw6gle\">according to Al-Mal<\/a>. The NBE and Banque Misr had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fc70074-e2f9-4be8-b7f0-ff6dcad85a18\">submitted requests last month<\/a> for help from the EBRD to help shore up their liquidity positions. The newspaper says the funding would be targeted to industries hardest-hit by covid-19 including tourism as well as front-line sectors including transport, agriculture and producers of medical supplies.<\/p><p><strong>The court system began the slow process of reopening yesterday<\/strong>, with criminal courts set to operate two days a week instead of six and focusing on hearings to decide on the extension of pretrial detention orders, <a href=\"https:\/\/bit.ly\/2xuxD7S\">Youm7<\/a> reports. Criminal and family courts alike will also focus on handing down final rulings in cases where verdicts had been reached, but postponed by the corona-induced shutdown. Appeals courts will also tiptoe back into session, but neither appellants nor the public will be allowed in open court. The nation\u2019s courts had been closed since 15 March.<\/p><p><strong>Make sure you keep up with your kid\u2019s vaccination schedule<\/strong>, Unicef warns, suggesting that as many as 10 mn children under the age of five across the Middle East are at risk of missing out on polio vaccinations and another 4.5 mn may miss out measles vaccinations as healthcare efforts are being diverted to treating covid-19, <a href=\"https:\/\/www.thenational.ae\/world\/mena\/virus-efforts-jeopardise-vaccines-for-millions-of-children-in-the-middle-east-un-says-1.1014121\">the UAE\u2019s The National<\/a> reports.<\/p><p><strong>DONATIONS-<\/strong><\/p><p><strong>Al-Ahram Beverages has donated EGP 5.6 mn to the government<\/strong>, in addition to providing ethanol supplies to the Unified Procurement Authority to produce disinfectants and sanitizers for hospitals and medical facilities, <a href=\"https:\/\/bit.ly\/35suQZF\">according to Youm7<\/a>.<\/p><p><strong>Cairo Festival City mall and Misr El Kheir Foundation have launched an initiative to <\/strong><strong>support service workers in hospitals and quarantine facilities<\/strong>, according to a statement <a href=\"https:\/\/alborsaanews.com\/2020\/05\/03\/1334608\">carried by the domestic press<\/a>. The initiative aims to donate Ramadan provisions to 20k workers.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>\u201cIt\u2019s all China\u2019s Fault\u201d: <\/strong>US policymakers are ramping up rhetoric claiming that the virus that causes covid-19 escaped from a lab in China. Secretary of State Mike Pompeo said yesterday that \u201cenormous evidence\u201d points to SARS-CoV-2 originated in a research lab in Wuhan, while The Donald suggested obliquely that \u201cI think they made a very horrible mistake,\u201d adding, \u201cThey tried to cover it.\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/pompeo-says-enormous-evidence-links-virus-to-wuhan-laboratory?utm_campaign=socialflow-organic&amp;utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_source=twitter\">Bloomberg<\/a> and the <a href=\"https:\/\/www.nytimes.com\/2020\/05\/03\/us\/politics\/coronavirus-pompeo-wuhan-china-lab.html\">New York Times<\/a> have the story.<\/p><p class=\"web-image\"><a href=\"https:\/\/finance.yahoo.com\/brklivestream\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/Buffett-AGM2020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>The Warren Buffett Show is still commanding the attention of the global financial press <\/strong>a little more than a day after Berkshire Hathaway held its AGM via videoconference. You can watch the full, epic live stream here (<a href=\"https:\/\/finance.yahoo.com\/brklivestream\">watch, runtime: 5:23:49<\/a>), catch a cutdown version on video (<a href=\"https:\/\/finance.yahoo.com\/video\/yahoo-finance-recaps-2020-berkshire-022242635.html\">watch, runtime: 15:31<\/a>) or get the highlights in the <a href=\"https:\/\/www.ft.com\/content\/940dedb2-61e5-4039-8551-2246dd8f3105\">Financial Times<\/a>, <a href=\"https:\/\/www.reuters.com\/article\/us-berkshire-buffett\/warren-buffett-says-the-coronavirus-cannot-stop-america-or-berkshire-hathaway-idUSKBN22E0TR\">Reuters<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-02\/buffett-says-berkshire-reversing-course-on-airlines-again?sref=mmeFTDW1\">Bloomberg<\/a> or <a href=\"https:\/\/www.cnbc.com\/2020\/05\/02\/warren-buffett-berkshire-hathaway-annual-meeting-live-updates.html\">CNBC<\/a>. <strong>The Coles \/ Cliffs Notes version: \u201cThe pandemic can\u2019t stop Amreeka \u2014 or Berkshire. But I\u2019ve sold all my airline stock.\u201d <\/strong>The meeting included a call-in question from none other than actor Bill Murray.<\/p><p><strong>Developed economies could be hit by a \u201csecond wave of job losses,\u201d <\/strong>despite governments moving to ease lockdown measures, <a href=\"https:\/\/www.ft.com\/content\/84bde9f6-8563-4355-b010-c18de2644367\">says the Financial Times<\/a>, as some businesses revisit their ability to cope with continued social distancing.<\/p><p><strong>US and European banks are getting ready to set aside over USD 50 bn in loan loss <\/strong><strong>provisions for the first quarter,<\/strong> \u201can indication of the severe economic damage wrought by coronavirus,\u201d <a href=\"https:\/\/www.ft.com\/content\/c31db8ab-9a90-4680-bf13-b0a859e7e1b4\">according to the FT<\/a>. US-based banks are the most cautious, booking USD 25 bn for bad loans, up 350% y-o-y.<\/p><p><strong>US 1Q2020 earnings season continues this week: <\/strong><a href=\"https:\/\/investorplace.com\/earnings-reports-to-watch-next-week\/\">InvestorPlace<\/a> has a list of seven to keep an eye on \u2014 including Disney, PayPall, Uber, the once great <a href=\"https:\/\/www.activisionblizzard.com\/\">Activision Blizzard<\/a>, Canada\u2019s <a href=\"https:\/\/www.shopify.com\/\">Shopify<\/a>, beer giant <a href=\"https:\/\/www.ab-inbev.com\/\">AB InBev<\/a>, and pharma chain <a href=\"https:\/\/cvshealth.com\/\">CVS Health<\/a>.<\/p><p><strong>Saudi Arabia is <\/strong><strong><a href=\"https:\/\/www.spa.gov.sa\/viewstory.php?lang=ar&amp;newsid=2081628\">cautiously rolling back lockdown measures<\/a><\/strong><strong> just as <\/strong><strong>plummeting crude oil prices have left Saudi\u2019s bonds more vulnerable<\/strong> than neighboring Abu Dhabi and Qatar, Vanguard Asset Management reps <a href=\"https:\/\/www.bloomberg.com\/markets\/fixed-income?sref=mmeFTDW1\">tell Bloomberg<\/a>. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c3e1177-cc34-406a-8442-8966cf08ffe8\">We noted yesterday<\/a> that investors were mostly bearish on Saudi stocks and mixed on those in the UAE, according to a Reuters poll.<\/p><p><strong>Saudi is under pressure to push fiscal reforms instead of abandoning its peg to the <\/strong><strong>USD<\/strong>, Goldman Sachs suggests in a research report picked up by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/goldman-says-saudi-fiscal-adjustment-preferable-to-a-devaluation?sref=mmeFTDW1\">Bloomberg<\/a> wherein the bulge bracket bank says it sees oil at USD 40 \/ bbl by the end of this year and USD 60 by the end of 2021. If oil stays at USD 30 with the FX rate unchanged, KSA would face substantial pressure to abandon the peg lest it run reserves dry.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/sum-of-all-fears-still-can-t-dispel-speculation-about-inflation?srnd=premium-middle-east&amp;sref=mmeFTDW1\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/globalinflationoutlook-1600px-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Are we looking at the return of inflation&gt;<\/strong> That\u2019s what some analysts are expecting as policymakers take measures that, along with supply chain disruptions and the release of pent-up consumer demand, may \u201cstoke inflation\u201d once lockdown measures are lifted, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/sum-of-all-fears-still-can-t-dispel-speculation-about-inflation?srnd=premium-middle-east&amp;sref=mmeFTDW1\">according to Bloomberg<\/a>. Although a contained uptick in prices would actually be welcome for some economies, others \u2014 particularly developing countries \u2014 would likely struggle to contain inflation in the aftermath of the pandemic.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> As Egypt settles in for a month of heavy prime-time TV watching, we ask whether film and TV accurately depict the realities of private education in Egypt.<\/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\/commodities\/\">commodities<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/royal-dutch-shell\/\">Royal Dutch Shell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"571200\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 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href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/last-nights-talk-shows-for-monday-4-may-2020\/\">\r\n                            Last night\u2019s talk shows for Monday, 4 May 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\/05\/04\/last-nights-talk-shows-for-monday-4-may-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 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href=\"https:\/\/api.whatsapp.com\/send?text=Last+night%E2%80%99s+talk+shows+for+Monday%2C+4+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F04%2Flast-nights-talk-shows-for-monday-4-may-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\/05\/04\/last-nights-talk-shows-for-monday-4-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571201\" class=\"content-area-description single-story post-571201 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-khaled-el-anany tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was yet another quiet Ramadan night on the airwaves last night. <\/strong>The only segment worth noting was a phone call Al Kahera Alaan\u2019s Lamees El Hadidi had with Tourism and Antiquities Minister Khaled El Anany. This came after the government reopened hotels for local tourists, which we recap in detail in Speed Round, below.<\/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\/khaled-el-anany\/\">Khaled El Anany<\/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=\"571202\" 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=\"571202\">\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\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/\">\r\n                            Egypt\u2019s hotels to reopen from for domestic holiday makers from 15 May \u2014 under conditions                        <\/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\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/\" 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\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/')\">\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\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/\">\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 hotels to reopen from for domestic holiday makers from 15 May \u2014 under conditions&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/\">\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\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/&title=Egypt\u2019s hotels to reopen from for domestic holiday makers from 15 May \u2014 under conditions\">\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+hotels+to+reopen+from+for+domestic+holiday+makers+from+15+May+%E2%80%94+under+conditions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F04%2Fegypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions%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\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/15.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571203\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/egypts-hotels-to-reopen-from-for-domestic-holiday-makers-from-15-may-under-conditions\/15-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/15.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"15.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/15.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/15.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571202\" class=\"content-area-description single-story post-571202 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-covid-19 tag-enterpriseam tag-hospitality tag-speed-round tag-tourism 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>Gov\u2019t to allow staycations from 15 May as it seeks relief for tourism sector: <\/strong>Hotels will be permitted to open their doors to domestic holiday makers from 15 May on the condition they take precautionary measures against the spread of covid-19, cabinet ministers said yesterday. Hotel operators will be capped at 25% capacity for the first two weeks of the re-opening before increasing this to 50% by 1 June, <a href=\"https:\/\/bit.ly\/2Sx2pUU\">cabinet said in a statement<\/a>.<\/p>\n<p><strong>What protections need to be in place? <\/strong>Companies will need to install sterilization equipment, screen all incoming guests for fever, only take bookings online, and hold no weddings or entertainment events or offer shisha on site. Doctors will also be required to be stationed at the premises, all workers will need to be tested when entering resorts and all hotels will need to have a designated quarantine area to house people suspected of carrying the infection.<\/p>\n<p><strong>The decision will take effect on 15 May, <\/strong>Tourism Minister Khaled El Anany told Al Kahera Alaan\u2019s Lamees El Hadidi last night. Only companies that comply with the rules will be allowed to increase their capacity to 50% at the beginning of June and those found in violation will have their licenses revoked, he said (<a href=\"https:\/\/www.youtube.com\/watch?v=U2ze4JEw3ck\">watch, runtime: 16:55<\/a>).<\/p>\n<p><strong>Foreign tourists will not be back \u201canytime soon\u201d: <\/strong>The government isn\u2019t factoring in the return of inbound tourism \u201canytime soon,\u201d and \u201cwe are waiting for the appropriate time,\u201d El Anany said.<\/p>\n<p><strong>El Hekaya\u2019s Amr Adib also took note of the decision to put hotels back in business,<\/strong> stressing that the government should not make rash decisions if it is to reassure foreign tourists that it is safe to travel to Egypt post-covid (<a href=\"https:\/\/www.youtube.com\/watch?v=k5YmQyWL8cI\">watch, runtime: 3:30<\/a>).<\/p>\n<p><strong>The tourism and hospitality industries have effectively ground to a halt<\/strong> after the government suspended flights and ordered hotels, restaurants, and cafes closed in March. This has led to losses estimated at USD 1 bn a month, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2CL0OH\">according to Reuters<\/a>. It has also placed considerable strain on the economy as the sector accounts for 12%-15% of GDP, as well as shut down a key source of foreign currency. Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdd06f40-e2ad-4243-a831-86f9dcf7a60c\">told us in March<\/a> that he thinks it will take a year for the industry to mount a full recovery.<\/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\/hospitality\/\">hospitality<\/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\/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=\"571219\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571220\" 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=\"571220\">\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\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/\">\r\n                            As good as it gets? New US-China tensions could dampen the stock market 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 href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/\" 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\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/')\">\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\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/\">\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=As good as it gets? New US-China tensions could dampen the stock market recovery&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/\">\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\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/&title=As good as it gets? New US-China tensions could dampen the stock market recovery\">\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=As+good+as+it+gets%3F+New+US-China+tensions+could+dampen+the+stock+market+recovery+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F04%2Fas-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery%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\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/22.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571221\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/as-good-as-it-gets-new-us-china-tensions-could-dampen-the-stock-market-recovery\/22-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/22.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"22.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/22.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/22.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571220\" class=\"content-area-description single-story post-571220 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-emerging-markets tag-enterpriseam tag-equities tag-investment-watch tag-the-macro-picture tag-warren-buffett 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>As good as it gets? New US-China tensions could dampen the stock market recovery:<\/strong> A string of uncertainties could conspire to knock the wind out of the sails of global stock markets this month as investors fret about the potential of renewed US-China conflict complicating the already dire prospects for the global economy, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/bad-start-to-may-is-a-sign-of-things-to-come-for-global-markets?sref=mmeFTDW1\">Justin Corrigan writes for Bloomberg<\/a>. A flood of global stimulus and hopes for a rapid economic recovery caused stock markets around the world to rally through much of April, with US equities giving us their best month since 1987. Signs of a reversal came on 1 May after a number of companies issued new profit warnings and The Donald once again pointed fingers at China\u2019s trade policies and questioned its handling of the outbreak. The S&P 500 was down 2.8% by Friday\u2019s market closing, US Treasuries rallied, and the Bloomberg Dollar Index rose for the first time in six days.<\/p>\n<p><strong>The uneasiness continued in Middle Eastern markets yesterday:<\/strong> The Saudi Tadawul closed the session down 7.4% after the country\u2019s finance minister <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-saudi-finance\/saudi-to-take-strict-painful-measures-to-deal-with-coronavirus-impact-idUSKBN22E0Q0\">telegraphed plans<\/a> to make deep cuts to public spending, while Abu Dhabi and Dubai\u2019s main indices also clocked losses of 3-4%. The EGX also fell 3.4% during the session driven by a sell-off among foreign investors. This, Corrigan suggests, was a \u201ctaste of what may be in store for the rest of the world.\u201d<\/p>\n<p><strong>A May sell-off is pretty much business-as-usual for emerging markets:<\/strong> Even without a pandemic, an economic crisis and a reheating US-China conflict, a sell-off in EM stocks, currencies and bonds in the month of May would be nothing out of the ordinary. All three asset classes have finished May in the red <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-03\/u-s-china-angst-tests-sell-in-may-mantra-for-emerging-markets?sref=mmeFTDW1\">during eight of the past 10 years<\/a>. Adding the prospect of renewed tensions between Washington and Beijing to the cluster of problems already besetting many in the emerging world only makes further EM instability more likely. \u201cThe biggest new development that could weigh on emerging markets is the pick-up in geopolitical tensions between the U.S. and China,\u201d Bloomberg quoted Eric Stein, co-director of global fixed income at Eaton Vance, as saying. \u201cNegativity still hangs over the asset class,\u201d despite the unprecedented quantities of fiscal and monetary stimulus that has helped to resurrect EM assets over the past month, he added.<\/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\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/warren-buffett\/\">Warren Buffett<\/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=\"571222\" 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=\"571222\">\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\/05\/04\/egypt-in-the-news-on-4-may-2020\/\">\r\n                            Egypt in the News on 4 May 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\/05\/04\/egypt-in-the-news-on-4-may-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\/05\/04\/egypt-in-the-news-on-4-may-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\/05\/04\/egypt-in-the-news-on-4-may-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 4 May 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/egypt-in-the-news-on-4-may-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\/05\/04\/egypt-in-the-news-on-4-may-2020\/&title=Egypt in the News on 4 May 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+4+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F04%2Fegypt-in-the-news-on-4-may-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\/05\/04\/egypt-in-the-news-on-4-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571222\" class=\"content-area-description single-story post-571222 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-amnesty-international tag-egypt-in-the-news tag-enterpriseam tag-human-rights tag-journalism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading the conversation in the foreign press this morning:<\/strong> <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2020\/05\/egypt-end-relentless-attacks-on-journalists-and-other-media-workers\/\">Amnesty International<\/a> has published a new report critical of the treatment of journalists in Egypt. The report is receiving coverage in: <a href=\"https:\/\/apnews.com\/2549527cccede6deb183266bd3e27eaf\">AP<\/a> | <a href=\"https:\/\/news.sky.com\/story\/coronavirus-egypt-escalates-press-crackdown-over-pandemic-says-amnesty-11982398\">Sky News<\/a> | <a href=\"https:\/\/www.voanews.com\/press-freedom\/amnesty-publishes-report-egyptian-media-clampdown\">Voice of America<\/a> | <a href=\"https:\/\/www.itv.com\/news\/2020-05-03\/journalism-now-a-crime-in-egypt-amnesty-report\/\">ITV<\/a><\/p>\n<p><strong>The death in prison of photographer and filmmaker Shady Habash is still getting ink:<\/strong> <a href=\"https:\/\/www.ft.com\/content\/799e3e03-fa79-4e08-bb54-b50be85de334\">Financial Times<\/a> | <a href=\"https:\/\/www.independent.co.uk\/news\/world\/middle-east\/shady-habash-death-egypt-prison-warning-a9496476.html\">the Independent<\/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\/amnesty-international\/\">Amnesty International<\/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\/journalism\/\">journalism<\/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=\"571225\" 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=\"571225\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/the-market-yesterday-84\/\">\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\/05\/04\/the-market-yesterday-84\/\" 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\/05\/04\/the-market-yesterday-84\/')\">\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\/05\/04\/the-market-yesterday-84\/\">\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\/05\/04\/the-market-yesterday-84\/\">\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\/05\/04\/the-market-yesterday-84\/&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%2F05%2F04%2Fthe-market-yesterday-84%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\/05\/04\/the-market-yesterday-84\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571225\" class=\"content-area-description single-story post-571225 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<\/strong><strong> at <\/strong><strong>CIB<\/strong><strong>:<\/strong> Buy 15.70 | Sell 15.60<br \/>\n <strong>EGP \/ USD at <\/strong><strong>NBE<\/strong><strong>: <\/strong>Buy 15.68 | Sell 15.78<\/p>\n<p><strong>EGX30<\/strong> (Sunday): 10,200 (-3.4%)<br \/>\n <strong>Turnover:<\/strong> EGP 879 mn (30% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -26.9%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session down 3.4%. CIB, the index\u2019s heaviest constituent, ended down 3.0%. EGX30\u2019s top performing constituent was Cleopatra Hospital up 1.2%. Yesterday\u2019s worst performing stocks were Dice down 10%, GB Auto down 8.2% and Porto Group down 7.3%. The market turnover was EGP 879 mn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -53.5 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +3.5 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +49.9 mn<\/p>\n<p><strong>Retail<\/strong>: 73.9% of total trades | 73.7% of buyers | 74.1% of sellers<br \/>\n <strong>Institutions<\/strong>: 26.1% of total trades | 26.3% of buyers | 25.9% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 19.78 (+4.99%)<br \/>\n <strong>Brent:<\/strong> USD 26.44 (-0.15%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.89 MMBtu, (-3.03%, Jun 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,700.90 \/ troy ounce (+0.40%)<\/p>\n<p><strong>TASI:<\/strong> 6,585.58 (-7.41%) (YTD: -21.50%)<br \/>\n <strong>ADX:<\/strong> 4,105.68 (-2.95%) (YTD: -19.11%)<br \/>\n <strong>DFM:<\/strong> 1,946.34 (-3.96%) (YTD: -29.60%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,248.07 (-2.02%)<br \/>\n <strong>QE:<\/strong> 8,687.59 (-0.87%) (YTD: -16.67%)<br \/>\n <strong>MSM:<\/strong> 3,538.15 (-0.04%) (YTD: -11.13%)<br \/>\n <strong>BB:<\/strong> 1,310.73 (+0.16%) (YTD: -18.60%)<\/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=\"571226\" 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\/05\/04\/571226\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571226\" class=\"content-area-description single-story post-571226 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>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":571198,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-571197","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"414b74f4-2e0e-4be2-997a-b83bc5ede33b","teaser":"","photo_url":"https:\/\/ent.news\/2020\/5\/12.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>Ready for a staycation? 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