{"id":571471,"date":"2020-05-13T04:26:06","date_gmt":"2020-05-13T04:26:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=571471"},"modified":"2025-12-16T08:01:51","modified_gmt":"2025-12-16T08:01:51","slug":"pandemic-aid-from-the-imf-lands-in-cairo-as-total-reported-cases-break-past-the-10k-barrier","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/pandemic-aid-from-the-imf-lands-in-cairo-as-total-reported-cases-break-past-the-10k-barrier\/","title":{"rendered":"Pandemic aid from the IMF lands in Cairo as total reported cases break past the 10k barrier"},"content":{"rendered":"<section id=\"571473\" 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=\"571473\">\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\/13\/what-were-tracking-on-13-may-2020\/\">\r\n                            What we\u2019re tracking on 13 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\/13\/what-were-tracking-on-13-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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Not too many sleeps left before we all enjoy a long weekend for the Eid.<\/p><p><strong>Two things bedeviling our peabrains <\/strong>as we get underway this morning:<\/p><p><strong>#1- Springboarding off our food security story in Speed Round (below), the<\/strong> <strong>obligate carnivores among us are concerned <\/strong>about the integrity of the global supply of fresh meat as a growing number of <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-12\/coronavirus-outbreaks-rip-through-european-slaughterhouses?srnd=premium-middle-east&amp;sref=mmeFTDW1\">European slaughterhouses<\/a> have joined their US (<a href=\"https:\/\/www.bloomberg.com\/news\/features\/2020-05-07\/coronavirus-closes-meat-plants-threatens-food-supply?sref=mmeFTDW1\">here<\/a> and <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa-meatpacking-an\/as-us-meat-workers-fall-sick-and-supplies-dwindle-exports-to-china-soar-idUSKBN22N0IN\">here<\/a>) and Canadian (<a href=\"https:\/\/newsinteractives.cbc.ca\/longform\/cargill-covid19-outbreak\">here<\/a>, <a href=\"https:\/\/www.theglobeandmail.com\/canada\/article-cargill-shuts-down-montreal-plant-after-64-workers-test-positive-for\/\">here<\/a> and <a href=\"https:\/\/www.theglobeandmail.com\/canada\/british-columbia\/article-western-canada-how-an-alberta-slaughterhouse-turned-into-the-country\/\">here<\/a>) counterparts as hot zones of infection. Some are closing, others are cutting output. The problem, <a href=\"https:\/\/www.theguardian.com\/environment\/2020\/may\/11\/chaotic-and-crazy-meat-plants-around-the-world-struggle-with-virus-outbreaks\">the Guardian<\/a> warns, is a global one.<\/p><p><strong>#2- Saudi Arabia and Lebanon have (re)imposed total lockdowns <\/strong>as calls mount in some corners of Egypt for policymakers to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c729aa7-72ef-48bb-a2dd-c4861be43eef\">do the same here<\/a> before or during the Eid vacation. <strong><a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-saudi-curfew\/saudi-arabia-to-enforce-nationwide-24-hour-curfew-for-eid-holiday-idUSKBN22O2QE\">Saudi will impose a 24-hour curfew for all five days<\/a><\/strong> of its Eid El-Fitr vacation, which is set to run May 23-May 27. Earlier in the pandemic, the kingdom had imposed and then eased a full lockdown. <strong><a href=\"https:\/\/ara.reuters.com\/article\/topNews\/idARAKBN22O1UO\">Lebanon returns today to a full lockdown<\/a><\/strong> for a four-day period after a spike in the number of covid cases.<\/p><p><strong>A couple of pieces worth reading today <\/strong>regardless of what industry you\u2019re in:<\/p><p><strong><a href=\"https:\/\/www.wsj.com\/articles\/how-tourist-destinations-are-reconfiguring-to-reopen-safely-11589289132\">How tourist destinations are reconfiguring reopen safely<\/a><\/strong> (WSJ) is particularly relevant as we look to <strong>Friday\u2019s reopening of hotels in Egypt<\/strong>. Properties will here be capped at 25% occupancy in the first phase. Globally, \u201cresorts are spacing out beach chairs, [purveyors of games of chance and skill] will toss decks of cards after a single use and amusement parks plan apps to avoid lines for rides,\u201d the paper notes.<\/p><p><strong><a href=\"https:\/\/www.nytimes.com\/2020\/05\/12\/nyregion\/coronavirus-work-from-home.html\">What does WFH mean for \u2026 cities?<\/a><\/strong> Imagine how much easier the past few months of WFH would have been had you not also been pressed into service as your kid(s)\u2019 teacher. Heck, you might even have enjoyed the flexibility of working from home, right? That\u2019s the fear spreading now through a vast ecosystem of shops, real estate companies, restaurants and transport providers as businesses in New York wake up to the fact that <strong>plenty of people will want to work more from home even after the pandemic eases<\/strong>.<\/p><p><strong>Speaking of WFH in the future: It seems most of our readers love the idea. <\/strong>That\u2019s among the early (and really, really clear) results of our <strong>poll on how covid-19 is impacting your business. <\/strong><\/p><p><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/95DC9YG\">PLEASE LET US KNOW how covid-19 is impacting your business.<\/a><\/strong> We run an annual reader poll asking what you expect of business conditions and the economy in the year ahead. Covid-19 has us thinking that the results of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1428f01f-9682-484b-8152-b9b69ea63b4a\">this year\u2019s survey<\/a> need updating. Take a minute and tell us how covid-19 has impacted your business, whether it\u2019s changed your outlook on the economy, and what you think of WFH. <strong>W<\/strong><strong>e\u2019ll have the results for you immediately after the Eid <\/strong><\/p><p><strong>Oh, and FWIW: Twitter has become the first major tech company to say it will allow<\/strong> <strong>employees to work from home on a permanent basis<\/strong> after the end of the lockdown, <a href=\"https:\/\/www.buzzfeednews.com\/article\/alexkantrowitz\/twitter-will-allow-employees-to-work-at-home-forever\">Buzzfeed reported yesterday<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The markets today: Asian shares are down in early trading this morning<\/strong> and futures point to a lower open in both Europe and North America after US stocks closed down again yesterday on <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-11\/asia-stocks-set-for-mixed-start-dollar-rises-markets-wrap\">fears<\/a> that the reopening of the US economy might be \u201cpremature\u201d and as \u201ctraders assessed a dire outlook from Federal Reserve regional chiefs.\u201d <strong>The EGX30 was up 2.8% yesterday<\/strong> and is now down 24.2% since January.<\/p><p><strong>It\u2019s interest day tomorrow: <\/strong>10 of the 12 analysts in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78bd44d3-3a0f-4c34-8ed4-f7c105135182\">our regular poll<\/a> expect the central bank to leave rates on hold.<\/p><p><strong>PSA- The last week of Ramadan will be a scorcher<\/strong>, with a heat wave due to send temperatures from a high of 37\u00b0C today into the low 40\u00b0C range this weekend and early next week, according to the national weather office. Our favourite weather app shows the mercury stuck at 42\u00b0C all week next week, with overnight lows of just 27\u00b0C.<\/p><p><strong>So, when do we eat? <\/strong>Maghrib prayers are at 6:40pm and you\u2019ll have until 3:23am to finish caffeinating. Fajr is coming one minute earlier every day through the end of the Holy Month.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/Covid-graph-12-May-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Egypt has now disclosed a total of 10,093 confirmed cases of covid-19<\/strong> after the Health Ministry reported 347 new infections yesterday. The ministry also said that another 11 people had died from the virus, taking the death toll to 544. We now have a total of 2,811 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 2,326 have fully recovered.<\/p><p><strong>MP Sherine Farag has tested positive, <\/strong><a href=\"https:\/\/bit.ly\/2WpepKs\">the local press reports<\/a>. Farag, who is now in isolation, has contracted the virus from an infected person outside parliament and there\u2019s no need to suspend sessions, <a href=\"https:\/\/bit.ly\/3dDCJ16\">Youm7<\/a> quoted House Deputy Speaker Soliman Wahdan as saying. Farag has recently attended meetings of the House Budget and Planning Committee and came into contact with Education Minister Tarek Shawky, committee deputy chair Yasser Omar told Sada El Balad (<a href=\"https:\/\/www.youtube.com\/watch?v=KyIZgI1xFiY\">watch, runtime: 16:10<\/a>).<\/p><p><strong>Farag is the latest in a string of high-profile cases to make the domestic press<\/strong>, including yesterday news that an employee of the <a href=\"https:\/\/www.egypttoday.com\/Article\/1\/86685\/State-of-emergency-at-Maspero-after-employee-dies-of-Corona\">state television apparatus<\/a> had died of covid-19 and an announcement by the Nursing Syndicate that <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/369143\/Egypt\/Politics-\/Sixth-Egyptian-nurse-dies-of-coronavirus-Nursing-S.aspx\">a sixth nurse had died<\/a> after contracting the disease.<\/p><p><strong>The full reopening of the nation\u2019s courts won\u2019t come until after the Eid holiday<\/strong>, Court of Cassation chief Aballah Assar said yesterday, <a href=\"https:\/\/bit.ly\/2yQCEZ9\">according to Youm7<\/a>, walking back an <a href=\"https:\/\/bit.ly\/2xV2jiP\">earlier declaration<\/a> that most courts would reopen this coming Saturday with precautionary measures in place. Assar was speaking in his capacity as head of the Supreme Judicial Council. <strong>Which courts and which are closed? <\/strong>It\u2019s a patchwork right now: Some are convening only to issue final verdicts in major cases, others rule on detention orders. Most are entirely closed, but some are open two days a week and have measures in place to keep headcounts in courtrooms low. <strong>Look for the post-holiday reopening to be gradual<\/strong>, <a href=\"https:\/\/bit.ly\/3bsCwfI\">Youm7<\/a> reports elsewhere.<\/p><p><strong>Egypt, Saudi electricity interconnection project on ice: <\/strong>Work on Egypt\u2019s 3 GW <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/10\/egypt-and-saudi-arabia-to-sign-electricity-interconnection-project-by-may-2020-8165\/\">electricity<\/a><a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/10\/egypt-and-saudi-arabia-to-sign-electricity-interconnection-project-by-may-2020-8165\/\">interconnection project with Saudi Arabia<\/a> has been postponed until we emerge from the pandemic, an Electricity Ministry official said, <a href=\"https:\/\/bit.ly\/2SYiUd5\">according to Youm7<\/a>. Contracts to build the project were set to be signed this month, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0f5ba18-1bed-4145-a12c-9fa86ddbca6d\">we noted earlier this week<\/a>.<\/p><p><strong>Madbouly talks covid with multinationals: <\/strong>Prime Minister Moustafa Madbouly met yesterday with top execs from multinationals including Majid Al Futtaim, Sumitomo, Unilever and Schneider Electric, <a href=\"https:\/\/bit.ly\/3fJ82JF\">Al Mal<\/a> reports. The topic of the day: The implications of covid for the business and the economy.<\/p><p><strong>DONATIONS-<\/strong><\/p><p><strong>Orange Egypt is working with the Egyptian Food Bank to distribute 50k boxes <\/strong><strong>of food to day laborers<\/strong> in six governorates, according to <a href=\"https:\/\/ent.news\/2020\/5\/Orange-Food-Bank-EN.pdf\">a statement (pdf)<\/a>.<\/p><p><strong>DP World has donated two ventilators <\/strong>to the Suez General Hospital, <a href=\"https:\/\/alborsaanews.com\/2020\/05\/07\/1339538\">according to the<\/a><a href=\"https:\/\/alborsaanews.com\/2020\/05\/07\/1339538\">local press<\/a>.<\/p><p><strong>Prometeon Tyre Egypt is also donating a ventilator and other medical equipment <\/strong><strong>to Alexandria\u2019s fever hospital<\/strong>, <a href=\"https:\/\/ent.news\/2020\/5\/Prometeon-Alexandria-Fever-Hospital-PRL-5.5-Clean.pdf\">the company said in a statement (pdf)<\/a>.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>There are signs that covid is spreading rapidly through large emerging markets<\/strong> including <a href=\"https:\/\/www.ft.com\/content\/e0ef7dfc-ac0b-43a8-97e6-2fbec5492612\">Nigeria<\/a> and <a href=\"https:\/\/www.nytimes.com\/2020\/05\/12\/world\/americas\/latin-america-virus-death.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">much of Latin America<\/a>, where Brazil has <a href=\"https:\/\/www.cnbc.com\/2020\/05\/13\/coronavirus-latest-updates-asia-europe.html\">just reported 881 deaths in one day<\/a>, its worst single-day total yet. Pundits say the figures raise the prospect of an \u201cunrecorded coronavirus surge\u201d in EM.<\/p><p><strong>Are you (or your kid \/ sibling) heading to university this fall? <\/strong>You\u2019ll want to read this piece by <a href=\"https:\/\/www.cbc.ca\/news\/canada\/covid-universities-online-1.5565810\">Canada\u2019s CBC<\/a> canvassing high-profile institutions including McGill and UBC, which in recent days have \u201cunveiled broad plans for the fall that centre on offering classes primarily online.\u201d South of the 49th parallel, Cal State (America\u2019s largest four-year public university system) <a href=\"https:\/\/www.nytimes.com\/2020\/05\/12\/us\/cal-state-online-classes.html\">said yesterday<\/a> that \u201c<strong>classes at its 23 campuses would be canceled for the fall semester, with instruction taking place almost exclusively online<\/strong>.\u201d<\/p><p><strong>Anthony Fauci and other top docs in the US are warning of \u201csuffering and death\u201d if the <\/strong><strong>America reopens too soon. <\/strong>Fauci\u2019s testimony to a US Senate committee is front page news on both sides of the Atlantic (<a href=\"https:\/\/www.ft.com\/content\/f303d8b7-d522-4cba-8bae-ba7bbb34874a\">Financial Times<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/05\/12\/us\/politics\/fauci-cdc-coronavirus-senate-testimony.html\">New York Times<\/a>).<\/p><p><strong>China will put the rest of the world to shame if it pulls off this testing campaign:<\/strong> Wuhan is gearing up to test all 14 mn of its residents in just 10 days after a new cluster of infections was detected on Sunday, <a href=\"https:\/\/www.scmp.com\/news\/china\/society\/article\/3084013\/wuhan-orders-fresh-coronavirus-tests-all-residents-new-cluster\">Chinese media report<\/a>. Officials are worried about a possible second wave of infections.<\/p><p><strong>GLOBAL MACRO-<\/strong><\/p><p><strong>US Democrats\u2019 colossal USD 3 tn stimulus bill is going nowhere:<\/strong> House Democrats yesterday unveiled a USD 3 tn+ package to provide emergency relief to local authorities, businesses and the mns of newly-unemployed Americans \u2014 only to have it immediately shot down by Senate Republicans. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-12\/house-democrats-propose-new-virus-relief-package?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa-congress\/u-s-house-democrats-unveil-3-trillion-coronavirus-bill-idUSKBN22O2D2?il=0\">Reuters<\/a> have the story.<\/p><p><strong>Meanwhile, India announces bumper stimulus package:<\/strong> Indian prime minister Narandra Modi has announced plans to inject USD 266 bn in emergency funding into the economy as unemployment surges above 25% and business activity remains paralysed by eight weeks of lockdown, <a href=\"https:\/\/www.ft.com\/content\/5734f333-e4d7-4ebf-9de2-220e537da3f0\">the Financial Times reports<\/a>.<\/p><p><strong>Hopes for a rapid bounce-back in Chinese economic activity are darkening<\/strong> after new data revealed that factory-gate prices fell at the quickest rate in four years in April, the <a href=\"https:\/\/www.wsj.com\/articles\/china-economic-data-indicate-v-shaped-recovery-is-unlikely-11589257260\">Wall Street Journal reports<\/a>. Analysts have been optimistic that Beijing\u2019s seeming success at controlling the virus will fuel a so-called \u2018V-shaped\u2019 recovery after the economy contracted for the first time in more than 40 years in 1Q2020. But fresh evidence that weak demand is continuing to hurt manufacturers has led an analyst at China\u2019s Bank of Communications to write off any chances of an imminent surge in economic activity.<\/p><p><strong>The IMF looks like it\u2019s about to cut its very bad, no good growth forecasts even further <\/strong>after having already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2ecf97e-8c74-428f-843c-0559f5b1540f\">projected the deepest global recession of the modern era<\/a>. IMF head Kristalina Georgieva signalled yesterday that it is \u201cvery likely\u201d that the fund will make further cuts to its projections less than a month after forecasting the economy to contract the most since the Great Depression this year, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-imf-georgieva\/imf-chief-says-growth-forecast-cuts-very-likely-as-coronavirus-hits-economies-hard-idUSKBN22O254\">Reuters reports<\/a>.<\/p><p><strong>Fed kicks off historic intervention in the ETF market in a bid to prop up corporate<\/strong> <strong>balance sheets:<\/strong> The US Federal Reserve has begun purchasing corporate bond exchange-traded funds (ETFs) for the first time in its history in an attempt to channel liquidity to US corporations struggling due to the pandemic, <a href=\"https:\/\/www.nytimes.com\/2020\/05\/12\/business\/dealbook\/fed-bond-etf.html\">the New York Times reports<\/a>. The program will see the bank purchase up to USD 750 bn in mostly investment grade corporate bonds, first through the ETF market and later through direct purchases. The announcement of the program in March triggered an explosion in new debt last month, with <a href=\"https:\/\/www.cnbc.com\/2020\/05\/01\/the-corporate-bond-market-has-been-on-fire-during-the-coronavirus-crisis.html\">corporations issuing USD 265 bn worth of bonds<\/a>, more than double the USD 108 bn in April 2019.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/Zakeya-Zakaria-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>RIP Zakeya Zakaria:<\/strong> Comedian and Ramadan icon Ibrahim Nasr died in Cairo yesterday at the age of 70. Nasr was best known as Zakeya Zakaria in \u201cEl Kamera El Khafeya,\u201d the hit Ramadan hidden camera prank show that peaked in the early 2000s and paved the way for (God help us) Ramez. <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=12052020&amp;id=17399fd0-2a51-42b6-9ebe-7f86e77cd934\">Al Shorouk<\/a> has an obituary, or you can go catch this recent interview with him (<a href=\"https:\/\/www.facebook.com\/ElsahaEGAlHurra\/videos\/3890949877614324\/\">watch, runtime: 3:49<\/a>).<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We explore the two biggest threats facing renewable energy this year: the covid-19 lockdown and the volatility in energy markets. In part 1 of this two-part series, we explore how the lockdown has impacted renewable energy companies and projects and if there is any lasting impact on the growth seen in Egypt\u2019s renewable energy sector.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" 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role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571475\" 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=\"571475\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/last-nights-talk-shows-for-12-may-2020-2\/\">\r\n                            Last Night\u2019s Talk Shows for 12 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\/13\/last-nights-talk-shows-for-12-may-2020-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/last-nights-talk-shows-for-12-may-2020-2\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/last-nights-talk-shows-for-12-may-2020-2\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows for 12 May 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/last-nights-talk-shows-for-12-may-2020-2\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/last-nights-talk-shows-for-12-may-2020-2\/&title=Last Night\u2019s Talk Shows for 12 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=Last+Night%E2%80%99s+Talk+Shows+for+12+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F13%2Flast-nights-talk-shows-for-12-may-2020-2%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/last-nights-talk-shows-for-12-may-2020-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571475\" class=\"content-area-description single-story post-571475 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Nothing to see here, folks. <\/strong>The nation\u2019s airwaves were even more an intellectual wasteland than usual last night. Most shows are on ice for the duration of Ramadan.<\/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\/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\/talk-shows\/\">talk shows<\/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=\"571476\" 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=\"571476\">\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\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\">\r\n                            IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt                        <\/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\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\" 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\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/')\">\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\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\">\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=IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\">\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\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/&title=IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt\">\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=IMF%E2%80%99s+USD+2.8+bn+pandemic+aid+lands+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F13%2Fimfs-usd-2-8-bn-pandemic-aid-lands-in-egypt%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\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/134.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571477\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/134-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/134.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"134.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/134.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/134.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571476\" class=\"content-area-description single-story post-571476 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-covid-19 tag-debt tag-enterpriseam tag-imf tag-pandemic 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>IMF\u2019s USD 2.8 bn pandemic aid lands in Cairo: <\/strong>Egypt took receipt of the IMF\u2019s USD 2.8 bn rapid financing instrument yesterday, only a day after the fund\u2019s executive board gave its approval, <a href=\"https:\/\/bit.ly\/3fHWJBA\">state news agency MENA reported<\/a>, quoting an unnamed central bank official. The facility will support the country\u2019s balance of payments and be used for \u201ctargeted and temporary spending\u201d to help the country grapple with the covid-19 pandemic that has ground the tourism sector to a halt and caused an exodus of foreign capital.<\/p>\n<p><strong>Talks for more funding underway: <\/strong>Talks were scheduled to kick off yesterday for a separate stand-by arrangement (<a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2016\/08\/01\/20\/33\/Stand-By-Arrangement\">SBA<\/a>) that could see us receive an additional USD 4.5-5 bn, Vice Minister of Finance Ahmed Kouchouk <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c23ccc2-49f3-4ec3-8a96-2b792743862c\">said on Monday<\/a>. How much we end up receiving in SBA funding will depend on the IMF\u201ds assessment of our needs, ability to repay and track record with the fund.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/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=\"571493\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571494\" 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=\"571494\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/egypt-in-the-news-on-13-may-2020\/\">\r\n                            Egypt in the News on 13 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\/13\/egypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-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 13 May 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/egypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-may-2020\/&title=Egypt in the News on 13 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+13+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F13%2Fegypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571494\" class=\"content-area-description single-story post-571494 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>All is quiet in the pages of the foreign press this morning.<\/strong><\/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\/egypt-in-the-news\/\">Egypt in the News<\/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=\"571495\" 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=\"571495\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/\">\r\n                            Turkey accuses Egypt and its Mediterranean friends of forming \u2018alliance of evil\u2019                        <\/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\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/\" 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\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/')\">\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\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/\">\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=Turkey accuses Egypt and its Mediterranean friends of forming \u2018alliance of evil\u2019&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/\">\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\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/&title=Turkey accuses Egypt and its Mediterranean friends of forming \u2018alliance of evil\u2019\">\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=Turkey+accuses+Egypt+and+its+Mediterranean+friends+of+forming+%E2%80%98alliance+of+evil%E2%80%99+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F13%2Fturkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil%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\/13\/turkey-accuses-egypt-and-its-mediterranean-friends-of-forming-alliance-of-evil\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571495\" class=\"content-area-description single-story post-571495 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-libya tag-mediterranean tag-turkey 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-08\"><\/a><strong>Turkey accuses Egypt and its Mediterranean allies of forming \u201calliance of evil\u201d: <\/strong>The Turkish Foreign Ministry yesterday accused Egypt, Greece, Cyprus, France and the UAE for forming an \u201calliance of evil\u201d after the countries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c2c840bf-5327-484d-b410-76c7fa0a19b5\">condemned<\/a> Ankara\u2019s involvement in Libya and its gas exploration in the eastern Mediterranean, <a href=\"https:\/\/apnews.com\/9c6657583d50e2cb842bcf2d708d9f0e\">the Associated Press reports<\/a>. The ministry accused the nations of stirring up \u201cregional chaos and instability\u201d and standing in the way of Libya\u2019s \u201chope for democracy for the reckless aggression of dictators.\u201d<\/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\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mediterranean\/\">Mediterranean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"571498\" 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=\"571498\">\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\/13\/the-market-yesterday-91\/\">\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\/13\/the-market-yesterday-91\/\" 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\/13\/the-market-yesterday-91\/')\">\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\/13\/the-market-yesterday-91\/\">\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\/13\/the-market-yesterday-91\/\">\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\/13\/the-market-yesterday-91\/&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%2F13%2Fthe-market-yesterday-91%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\/13\/the-market-yesterday-91\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571498\" class=\"content-area-description single-story post-571498 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<\/p>\n<p><strong>EGP \/ USD at NBE: <\/strong>Buy 15.68 | Sell 15.78<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 10,588 (+2.8%)<br \/>\n <strong>Turnover:<\/strong> EGP 998 mn (44% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -24.2%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended yesterday\u2019s session up 2.8%. CIB, the index\u2019s heaviest constituent, ended up 2.7%. EGX30\u2019s top performing constituents were Cleopatra Hospitals up 8.3%, Heliopolis Housing up 7.4%, and Kima up 6.9%. Yesterday\u2019s worst performing stock was Eastern Company, down 1.3%. The market turnover was EGP 998 mn and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -87.3 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -16.1 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +103.3 mn<\/p>\n<p><strong>Retail<\/strong>: 54.9% of total trades | 55.4% of buyers | 54.3% of sellers<br \/>\n <strong>Institutions<\/strong>: 45.1% of total trades | 44.6% of buyers | 45.7% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 25.30 (-1.86%)<br \/>\n <strong>Brent:<\/strong> USD 29.98 (+1.18%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.70 MMBtu, (-1.22%, June 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,705.80 \/ troy ounce (-0.06%)<\/p>\n<p><strong>TASI:<\/strong> 6,684.42 (+1.22%) (YTD: -20.32%)<br \/>\n <strong>ADX:<\/strong> 4,134.10 (+0.33%) (YTD: -18.55%)<br \/>\n <strong>DFM:<\/strong> 1,892.22 (+0.46%) (YTD: -31.56%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,116.94 (-0.06%)<br \/>\n <strong>QE:<\/strong> 8,892.44 (+0.32%) (YTD: -14.70%)<br \/>\n <strong>MSM:<\/strong> 3,450.89 (-0.43%) (YTD: -13.32%)<br \/>\n <strong>BB: <\/strong>1,238.58 (-1.11%) (YTD: -23.08%)<\/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=\"571499\" 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\/13\/571499\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571499\" class=\"content-area-description single-story post-571499 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>15 May (Friday): Egyptian hotels will be allowed to partially reopen to domestic tourists.<\/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":571472,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-571471","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8666b5a7-7c01-42ba-8639-29de812cadff","teaser":"","photo_url":"https:\/\/ent.news\/2020\/5\/129.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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