{"id":571548,"date":"2020-05-17T03:24:55","date_gmt":"2020-05-17T03:24:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=571548"},"modified":"2025-12-16T08:04:34","modified_gmt":"2025-12-16T08:04:34","slug":"cbe-leaves-rates-on-hold-as-unemployment-spikes-and-hotels-cautiously-begin-to-reopen","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/cbe-leaves-rates-on-hold-as-unemployment-spikes-and-hotels-cautiously-begin-to-reopen\/","title":{"rendered":"CBE leaves rates on hold as unemployment spikes and hotels cautiously begin to reopen"},"content":{"rendered":"<section id=\"571550\" 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=\"571550\">\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\/17\/what-were-tracking-on-17-may-2020\/\">\r\n                            What we\u2019re tracking on 17 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\/17\/what-were-tracking-on-17-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 expect the holiday to run Sunday-Tuesday, setting us all up for a five-day long weekend.<\/p><p><strong>The Madbouly government is expected to announce by the end of the week its lockdown <\/strong><strong>plans for Eid,<\/strong> <a href=\"https:\/\/bit.ly\/3fUW1kv\">Youm7 reports<\/a>, citing unnamed sources. Among the options on the table: 1) A repeat of Sham El Nessim, which would see shopping malls closed for the duration and curbs on movement between at least some governorates and 2) a return to a more strict 7pm-6am curfew.<\/p><p><strong>We also hope to get some clarity this week on when Cabinet expects to hit the \u201cgo\u201d <\/strong><strong>button <\/strong><strong>on the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47164262-3704-4028-a80b-b59dee6dc915\">Health Ministry\u2019s three-stage plan<\/a><\/strong> to fully reopen the economy and ease measures in place to restrict the spread of the virus that causes covid-19.<\/p><p><strong>And we get to \u2018enjoy\u2019 a heat wave while we wait for the weekend. <\/strong>Look for daytime highs of 42-43\u00b0C in the capital city, according to the <a href=\"http:\/\/ema.gov.eg\/pdf\/4df.pdf\">national weather service (pdf)<\/a>, with a chance of scattered showers in Cairo, Sinai and the North Coast, Egyptian Meteorological Authority head Mahmoud Shahin <a href=\"http:\/\/gate.ahram.org.eg\/News\/2407461.aspx\">told Ahram Gate<\/a>. <strong>But it seems the mercury will fall just in time for the holiday: <\/strong>Look for a daytime high of 32\u00b0C on Saturday (the last day of Ramadan) and 31\u00b0C a week from today (the first day of Eid).<\/p><hr class=\"grey-line\"><p><strong>The House of Representatives looks like it\u2019s starting its customary sprint <\/strong>toward summer recess, with a packed agenda this week. Among the highlights:<\/p><p><strong>The Banking and Central Bank Act <\/strong>is <a href=\"https:\/\/bit.ly\/2Z5mdTA\">up for discussion again<\/a> today after getting preliminary approval earlier <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f72259e2-cc92-4022-8693-8f7b3864a818\">this month<\/a>. It would establish an industry development fund (endowed by a 1% tithe on bank profits) as well as a separate bailout and deposit insurance fund, among other things.<\/p><p><strong>Taxes are also on the agenda <\/strong>as the House Planning and Budgeting Committee takes up the Unified Tax Act, the stamp tax on EGX transactions and the tax on agricultural land, committee deputy chair Yasser Omar told Sada El Balad\u2019s Ahmed Moussa last week (<a href=\"https:\/\/youtu.be\/r8DrZ61X1C8?t=5289\">watch, runtime: 28:21<\/a>). Finance industry lobby group ECMA is <a href=\"https:\/\/bit.ly\/2y6sF1p\">calling on MPs<\/a> to walk back their decision last week to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7d1a988-cbe0-4313-8b65-05042bc09ad1\">reduce the size of the stamp tax cut on EGX transactions<\/a> in the legislation.<\/p><p><strong>The Public Enterprises Act<\/strong> is <a href=\"https:\/\/www.albawabhnews.com\/4017143\">also on the table discuss<\/a> as MPs debate the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27d95a2e-524e-4222-a430-a0b2d42d2ed1\">reclassification of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27d95a2e-524e-4222-a430-a0b2d42d2ed1\">listed companies in which the government holds up to a 75% stake<\/a> and a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d728f3a7-1c89-4081-82a9-554adbe7d2a3\">cap on board compensation<\/a>. The bill applies only to government-owned companies and <a href=\"https:\/\/bit.ly\/2LyNmGn\">received committee-level approval last week<\/a>.<\/p><p><strong>The war on the coronavirus will be a feature of the week <\/strong>as MPs take up a bill that will, among other things, give the health minister the power to make it mandatory to wear face masks in public, Gamal Essam El Din reports for <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/369429\/Business\/Economy\/Egypts-parliament-to-discuss-amendments-to-laws-on.aspx\">Ahram Online<\/a>.<\/p><p><strong>** So, when do we eat? <\/strong>Maghrib prayers are at 6:43pm and you\u2019ll have until 3:20am to finish caffeinating. Fajr is coming one minute earlier every day through the end of the Holy Month.<\/p><hr class=\"grey-line\"><div class=\"stand-out\">\n<p><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/95DC9YG\">** HOW IS COVID-19 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><\/div><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/Covid-graph-16-May-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>Egypt has now disclosed a total of 11,719 confirmed cases of covid-19<\/strong> after <a href=\"https:\/\/bit.ly\/2ZavVEj\">the Health<\/a><a href=\"https:\/\/bit.ly\/2ZavVEj\">Ministry reported<\/a> 491 new infections yesterday. The ministry also said that another 20 people had died from the virus, taking the death toll to 612. We now have a total of 3,526 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 2,950 have fully recovered.<\/p><p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>Ahead of the summer tourism season<\/strong><strong>, a ray of hope <\/strong>as some hotels started reopening this past Friday under strict conditions including that they operate at no more than 25% capacity. That cap could rise to 50% next month.<\/p><p><strong>Ten hotels in the Red Sea and South Sinai governorates have been given the green <\/strong><strong>light to start receiving visitors<\/strong> following an inspection by the tourism and health ministries, <a href=\"https:\/\/bit.ly\/3dWiRXf\">according to a cabinet statement<\/a>. So far, 172 hotels have submitted requests to reopen, and at least a handful have been told they fell short of the health requirements and will be reevaluated at a later date. Bloomberg also picked up the story with a short video (<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2020-05-14\/egypt-s-red-sea-hotels-ready-to-open-video\">watch, runtime: 01:20<\/a>).<\/p><p><strong>It\u2019s still unclear when Egyptian airspace might reopen to regular commercial flights<\/strong>, let alone <strong>when foreign tourism could resume<\/strong>, Tourism Minister Khaled El Anany <a href=\"https:\/\/bit.ly\/3cycsBb\">said during a meeting<\/a> with the South Sinai Investors\u2019 Association. The resumption of the tourism trade will be a function of both the pandemic remaining under control and of hotels and other players playing ball with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/911208cc-7e2c-43c6-9b09-9f249c961415\">precautionary measures<\/a> in place for the sector.<\/p><p><strong>And one way or another, Egyptian airlines will get a helping hand from the state. <\/strong>National flag carrier EgyptAir is in line for an EGP 2 bn lifeline to see it through until the flight ban is lifted, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/release16-5-2020.aspx\">the Finance Ministry said<\/a>. The state will service the carrier\u2019s debt until its operating capacity reaches 80% of levels achieved in 2019, the statement noted. <a href=\"https:\/\/www.almasdar.com\/99039\">Government sources said last month<\/a> that a preferential interest rate of 8% will be attached to the bailout. Meanwhile, Civil Aviation Minister Mohamed Manar Enabah has formed a committee to <strong>look into <\/strong><strong><a href=\"https:\/\/alborsaanews.com\/2020\/05\/16\/1345392\">requests for support<\/a><\/strong><strong> from private airlines<\/strong>,<\/p><p><strong>Airports nationwide have already started installing thermal cameras<\/strong> to screen the temperature travelers, <a href=\"https:\/\/bit.ly\/365xwfX\">Youm7 reports<\/a>.<\/p><p><strong>The news comes as Italy said it will reopen its borders with no restrictions from 3 <\/strong><strong>June <\/strong>and allow international flights to restart at the same time. Prime Minister Giuseppe Conte admitted that his government was taking a \u201ccalculated risk\u201d ahead of shops and restaurants opening tomorrow and leisure facilities next week. The <a href=\"https:\/\/www.bbc.com\/news\/world-europe-52687448\">BBC<\/a> and <a href=\"https:\/\/www.ft.com\/content\/967e7168-81a0-4a23-928a-a1440e512b5a\">FT<\/a> have the story, while the salmon-coloured paper notes elsewhere that the global industry is <a href=\"https:\/\/www.ft.com\/content\/221455a2-9514-11ea-af4b-499244625ac4\">anxiously waiting to see what happens this summer<\/a>.<\/p><hr class=\"grey-line\"><p><strong>More repatriation flights: <\/strong>Egypt is arranging five flights on Wednesday and Thursday to bring back Egyptians stuck in Abu Dhabi, <a href=\"https:\/\/bit.ly\/2AqSYjF\">according to a cabinet statement<\/a>. On Thursday, 315 Egyptians stranded in Kuwait <a href=\"https:\/\/bit.ly\/2LA6rYU\">were brought back on two flights<\/a>, bringing the total number of repatriated citizens to 12k since April, <a href=\"https:\/\/bit.ly\/2T5SwOr\">according to Al Masry Al Youm<\/a>.<\/p><p><strong>Two passenger ferries will set sail on Tuesday and Wednesday<\/strong> to bring dozens home from Saudi Arabia, a source from Al Kahera Company For Ferries said, <a href=\"https:\/\/bit.ly\/2WE6AAR\">according to Al Mal<\/a>.<\/p><p><strong>DONATIONS-<\/strong><\/p><p><strong>China delivered another 30 tonnes of medical supplies to the Health Ministry <\/strong><strong>yesterday<\/strong>, <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/168436774706943\">according to a ministry statement<\/a>. This is the third shipment of supplies from China since the outbreak.<\/p><p><strong>Bank Audi Egypt donated EGP 6.75 mn to the Tahya Misr Fund<\/strong>, <a href=\"https:\/\/bit.ly\/2XgcirV\">according to Al Mal<\/a>.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Global covid-19 cases passed the 4.5 mn mark at the weekend,<\/strong> according to the <a href=\"https:\/\/coronavirus.jhu.edu\/map.html\">Johns<\/a><a href=\"https:\/\/coronavirus.jhu.edu\/map.html\">Hopkins University\u2019s corona tracker<\/a>.<\/p><p><strong>Slovenia has become the first European country to announce an end to its epidemic,<\/strong> <a href=\"https:\/\/www.independent.co.uk\/news\/world\/europe\/oronavirus-slovenia-end-epidemic-lockdown-lifted-a9516841.html\">the Independent reports<\/a>.<\/p><p><strong>GLOBAL MARKETS- <\/strong><\/p><p><strong>JPMorgan thinks the outlook for emerging market banks is \u201cnegative no matter how you <\/strong><strong>cut it,\u201d<\/strong> the investment bank\u2019s chief emerging markets equity strategist <a href=\"https:\/\/www.cnbc.com\/2020\/05\/13\/coronavirus-jpmorgan-is-underweight-financials-in-emerging-markets.html\">Pedro Martins Junior told CNBC<\/a>. Across EMs, JPMorgan\u2019s underweight stance on banks comes as there are widespread expectations that we\u2019re going to be seeing a wave of defaults as borrowers come under pressure from the global economic slowdown, and could eventually be \u201cpressured\u201d into dishing out loans to risky borrowers down the line that will compound their troubles. \u201cBanks have \u2018very limited\u2019 space to expand their loan portfolios. And given that central banks have cut interest rates to very low levels, the room for banks to boost their margins on loans and other products \u2018is also very narrow,\u2019\u201d Martins said.<\/p><p><strong>Warren Buffett is selling the Bulge Bracket\u2026 <\/strong>Warren Buffett sold more than 80% of his holding in Goldman Sachs during the first quarter, 12 years after his USD 5 bn investment provided the investment bank a vital lifeline during the height of the financial crisis. <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1067983\/000095012320005345\/xslForm13F_X01\/form13fInfoTable.xml\">A regulatory filing on Saturday<\/a> showed that Berkshire Hathaway had reduced its stake to just 1.9 mn shares, down from <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1067983\/000095012320002466\/xslForm13F_X01\/form13fInfoTable.xml\">12 mn in the final quarter last year<\/a>. The oracle of Omaha also cut slightly his holding in JPMorgan Chase.<\/p><p><strong>\u2026but Saudi\u2019s sovereign wealth fund is on a US equities shopping spree:<\/strong> Saudi Arabia\u2019s USD 300 bn Public Investment Fund (PIF) has poured USD bns to snap up stakes in Boeing, CitiGroup, Facebook, Disney, and Bank of America, <a href=\"https:\/\/www.reuters.com\/article\/us-saudi-pif\/saudi-sovereign-fund-discloses-stakes-in-citi-boeing-facebook-idUSKBN22S0BQ\">acco<\/a><a href=\"https:\/\/www.reuters.com\/article\/us-saudi-pif\/saudi-sovereign-fund-discloses-stakes-in-citi-boeing-facebook-idUSKBN22S0BQ\">rding to Reuters<\/a>. The fund\u2019s total holdings of US-listed equities is now at USD 10 bn compared to USD 2 bn at the start of 2020. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-15\/saudi-arabia-wealth-fund-buys-stakes-in-disney-facebook-citi?srnd=premium-middle-east\">Bloomberg<\/a> and <a href=\"https:\/\/www.ft.com\/content\/5cb71f75-cc6e-4ed5-9106-29bd33099fa3\">the Financial Times<\/a> also have the story. <strong>The PIF may want to borrow as much as USD 10 bn on margin<\/strong> to support the buying jag, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-16\/pif-said-to-seek-10-billion-loan-pledging-vision-fund-stakes?sref=mmeFTDW1\">Bloomberg<\/a> reports separately.<\/p><p><strong>GLOBAL MACRO-<\/strong><\/p><p><strong>The head of the World Trade Organization has resigned <\/strong>even though he had a year left on his contract, the <a href=\"https:\/\/www.nytimes.com\/2020\/05\/14\/business\/wto-chief-roberto-azevedo.html\">New York Times<\/a> reports. The resignation of Roberto Azev\u00eado, a Brazilian diplomat, caught policymakers by surprise.<\/p><p><strong>The IMF appears to be gearing up for a downwards revision of its (already <\/strong><strong>doom-and-gloom-ridden) global economic outlook<\/strong> as April data point to an even worse case scenario than previously set out, IMF Chief Economist Gita Gopinath said last week, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL1N2CV1OM\">according to Reuters<\/a>. The institution pointed to \u201ccollapsing consumption,\u201d among other data points, as key factors weighing down its outlook for the global economy. The IMF had already said last month it expects to see a 3% contraction this year.<\/p><p><strong>Countries reopening could help reverse the ever-worsening outlook<\/strong> \u2014 but that remains contingent on sufficient testing, contact tracing, and \u201cappropriate quarantining\u201d for covid-19 cases, Gopinath said.<\/p><p><strong>HSBC has already cut its own outlook and is now forecasting a 4.8% contraction<\/strong> in the global economy this year, down from a 3.3% contraction it expected in early April, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-hsbc-hldg-forecast\/coronavirus-forces-hsbc-to-cut-global-growth-forecasts-again-idUSKBN22R0M1\">the newswire reports<\/a>. The downgrade comes as some countries have decided to tighten or extend their lockdown measures, and places where these measures have been lifted are still seeing muted consumer sentiment and difficult job prospects.<\/p><p><strong>Talk of \u201canother Cold War\u201d ratcheted up another notch over the weekend <\/strong>as US President Donald Trump suggested he might cut ties with China, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa-china\/trump-says-doesnt-want-to-talk-to-xi-could-even-cut-china-ties-idUSKBN22Q2BD\">Reuters<\/a> reports. Shortly after, the <a href=\"https:\/\/www.reuters.com\/article\/us-usa-huawei-tech-exclusive\/u-s-moves-to-cut-huawei-off-from-global-chip-suppliers-as-china-eyes-retaliation-idUSKBN22R1KC\">US blocked the export of US technology to Huawei<\/a>. Bolstered by early signs it is <a href=\"https:\/\/www.nytimes.com\/2020\/05\/15\/business\/china-economy-coronavirus.html\">successfully restarting its economy<\/a>, China responded by saying it would put US companies on an \u201cunreliable entity list\u201d and yesterday said that it would <a href=\"https:\/\/www.reuters.com\/article\/us-china-economy-pboc\/pboc-to-strengthen-monetary-policy-support-for-economy-governor-says-idUSKBN22S06J\">strengthen monetary policy support<\/a> for the economy. The tiff is front page news on both sides of the Atlantic: <a href=\"https:\/\/www.nytimes.com\/2020\/05\/15\/world\/asia\/coronavirus-china-united-states-cold-war.html\">New York Times<\/a> | <a href=\"https:\/\/www.ft.com\/content\/cfbba6bf-3de5-458d-92d1-a62fb958a354\">Financial Times<\/a>].<\/p><p><strong>The US House of Representatives has narrowly passed a USD 3 tn covid-19 relief <\/strong><strong>bill <\/strong>which will likely face a strong challenge from the Repulican-majority Senate and a potential White House veto, the <a href=\"https:\/\/apnews.com\/3c1ea3456f7d906dabf3ed336f6c1ad0\">Associated Press reports<\/a>.<\/p><p><strong>The US administration is looking to restore a portion of its WHO funding<\/strong> after President Donald Trump decided last month to pull funds from the organization over alleged \u201cdisinformation\u201d on covid-19 that favored China, <a href=\"https:\/\/www.foxnews.com\/media\/exclusive-white-house-set-restore-partial-who-funding\">Fox News reports<\/a>, citing a draft administration letter. The US has typically contributed USD 400 mn annually to the WHO but is now reportedly looking to match whatever figure China commits to the organization, which has in the past amounted to one tenth of the US\u2019 contributions.<\/p><hr class=\"grey-line\"><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/Making-It-Album-Cover-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>ON OUR PODCAST THIS WEEK- Meet the founder of the first \u201cdragon\u201d in Egypt. <\/strong>Sahar Salama\u2019s TPay first made headlines in 2017 by making the first wholesale acquisition of a fintech company in Egypt when they <a href=\"https:\/\/enterprise.press\/stories\/2017\/08\/23\/tpay-becomes-sole-direct-carrier-billing-company-regionally-following-dcbegypt-acquisition\/\">acquired their primary competitors DCBEgypt<\/a>. In 2018, they became the region\u2019s first dragon, returning a multiple of the entire A15 fund to their investors, when <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/18\/a15-completes-sale-of-76-stake-in-tpay-to-helios-investment\/\">A15 sold its 76% stake to Helios Investment<\/a>.<\/p><p><strong>Tap or click here to listen to the episode on <\/strong><a href=\"http:\/\/enterprise.press\/podcast\">our website<\/a> | <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/s2e11-where-preparation-meets-opportunity-how-tpay\/id1487974619?i=1000474445931\">Apple Podcast<\/a> | <a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly9vbW55LmZtL3Nob3dzL21ha2luZy1pdC9wbGF5bGlzdHMvcG9kY2FzdC5yc3M\/episode\/ZWYwMmY0NmUtNWEwYi00Y2JlLTg0NWYtYWJiYTAwOWY4MTRm?ved=0CAcQ38oDahcKEwiIs-714bDpAhUAAAAAHQAAAAAQBA\">Google Podcast<\/a> | <a href=\"https:\/\/omny.fm\/shows\/making-it\">Omny<\/a>. We\u2019re also available on <a href=\"https:\/\/open.spotify.com\/show\/5kp07MwlL0pk8W8i7thpgB\">Spotify<\/a>, but only for non-MENA accounts. Subscribe to Making It on your podcatcher of choice <a href=\"https:\/\/bit.ly\/35lugvb\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/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 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opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-pbkh311\" data-v=\"4\" data-block-id=\"pbkh311\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-pbkh311-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-pbkh311-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571552\" 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=\"571552\">\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\/17\/last-nights-talk-shows-on-17-may-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 17 May 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/last-nights-talk-shows-on-17-may-2020\/&title=Last Night\u2019s Talk Shows on 17 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+on+17+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Flast-nights-talk-shows-on-17-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\/17\/last-nights-talk-shows-on-17-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571552\" class=\"content-area-description single-story post-571552 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-health tag-sanofi wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a blessedly quiet night on the airwaves last night:<\/strong> The only moment of interest came on Al Kahera Alaan when Lamees El Hadidi interviewed Sanofi regional manager Nibal Dahaba about the company\u2019s progress in developing a covid-19 vaccine <a href=\"https:\/\/www.youtube.com\/watch?v=l4R9z2JBp8k&t=29s\">(watch, runtime: 6:22)<\/a>.<\/p>\n<p>Dahaba said that while the company is making progress on a vaccine (as <a href=\"https:\/\/www.bbc.com\/news\/world-europe-52659510\">widely reported<\/a> in the global press), <strong>It is unlikely that a vaccine will be available before the middle of next year<\/strong>. Although Dahaba expects the company to begin clinical trials in the coming weeks, she estimated that it might still be another 1-1.5 years before a vaccine is ready to be used.<\/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\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sanofi\/\">Sanofi<\/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=\"571553\" 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=\"571553\">\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\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/\">\r\n                            Central Bank of Egypt leaves rates unchanged in May                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/')\">\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\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/\">\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=Central Bank of Egypt leaves rates unchanged in May&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/\">\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\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/&title=Central Bank of Egypt leaves rates unchanged in May\">\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=Central+Bank+of+Egypt+leaves+rates+unchanged+in+May+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fcentral-bank-of-egypt-leaves-rates-unchanged-in-may%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\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/169.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571554\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/central-bank-of-egypt-leaves-rates-unchanged-in-may\/169-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/169.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"169.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/169.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/169.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571553\" class=\"content-area-description single-story post-571553 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-central-bank-of-egypt tag-efg-hermes tag-enterpriseam tag-inflation tag-mohamed-abu-basha tag-mona-bedir tag-monetary-policy tag-prime-holding 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>CBE decides to keep a bullet in its chamber, leaving rates on hold at MPC <\/strong><strong>meeting:<\/strong> The Central Bank of Egypt\u2019s (CBE) Monetary Policy Committee (MPC) left interest rates on hold for the second consecutive month when it met on Thursday, the central bank <a href=\"https:\/\/ent.news\/2020\/5\/MPC-Press-Release-14-May-2020-interest-rates.pdf\">said in a statement<\/a><a href=\"https:\/\/ent.news\/2020\/5\/MPC-Press-Release-14-May-2020-interest-rates.pdf\">(pdf)<\/a>. The bank had previously slashed rates by an unprecedented 300 bps in an emergency meeting on 16 March. <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2CW6I9\">Reuters<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-14\/egypt-s-10-billion-funding-gap-likely-to-stall-rate-cut-for-now?sref=mmeFTDW1\">Bloomberg<\/a> have the story.<\/p>\n<p><strong>Where rates stand:<\/strong> The MPC kept overnight deposit rates at 9.25%, the lending rate at 10.25%, and the main operation rate and discount rates at 9.75%<\/p>\n<p><strong>Inflation remains in check despite April uptick:<\/strong> While annual <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a53e67cb-ab77-417d-a85e-d21ff4469016\">inflation accelerated to 5.9%<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a53e67cb-ab77-417d-a85e-d21ff4469016\">in April<\/a> from 5.1% in March, the central bank said that \u201ckeeping key policy rates unchanged remains consistent with achieving the inflation target of 9% (+\/-3%) in 4Q2020 and price stability over the medium term.\u201d April inflation picked up due to an unfavorable base effect, along with price increases in food items on the back of the covid-19 pandemic and of Ramadan, it said.<\/p>\n<p><strong>The CBE will do what is necessary to \u201csupport the recovery of economic activity,\u201d <\/strong>it said, noting that the \u201cbroad improvement\u201d in the economy in the first two months of 2020 and the \u201cdiversity of the economy provide some cushion given the resilience of some sectors.\u201d<\/p>\n<p><strong>Analysts saw it coming:<\/strong> Ten out of 12 analysts <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78bd44d3-3a0f-4c34-8ed4-f7c105135182\">told Enterprise ahead of the meeting<\/a> that the committee would stay put. <strong>The MPC will next meet on 25 June 2020.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/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\/mohamed-abu-basha\/\">Mohamed Abu Basha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mona-bedir\/\">Mona Bedir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-holding\/\">Prime Holding<\/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=\"571567\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571568\" 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=\"571568\">\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\/17\/were-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around\/\">\r\n                            We\u2019re facing a global food crisis, even though there\u2019s enough food to go around                        <\/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\/17\/were-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around\/\" 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\/17\/were-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n         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class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/were-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around\/&title=We\u2019re facing a global food crisis, even though there\u2019s enough food to go around\">\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=We%E2%80%99re+facing+a+global+food+crisis%2C+even+though+there%E2%80%99s+enough+food+to+go+around+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fwere-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around%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\/17\/were-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/173.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571569\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/were-facing-a-global-food-crisis-even-though-theres-enough-food-to-go-around\/173-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/173.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"173.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/173.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/173.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571568\" class=\"content-area-description single-story post-571568 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-commodities tag-enterpriseam tag-food tag-the-macro-picture tag-wheat 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>We\u2019re facing a global food crisis, even though there\u2019s enough food to go around:<\/strong> With an \u201cunprecedented\u201d breakdown in food supply chains and consumer demand, the world is now facing a food crisis that is driving up prices and putting vulnerable people at greater risk, the <a href=\"https:\/\/www.wsj.com\/articles\/coronavirus-global-food-crisis-shortages-11589385615\">Wall Street Journal says<\/a>.<\/p>\n<p><strong>The crisis comes as we face supply and demand problems simultaneously:<\/strong> On the supply side, a handful of countries are imposing protectionist measures \u2014 such as Russia and Romania limiting their wheat exports \u2014 in a bid to secure local consumption needs. Other countries are still trying to export their goods as normal, but are bogged down in logistical hurdles, including not being able to tend to their crops as a result of national lockdowns (which have also dried up some domestic markets) or their cargoes going bad while being held up at customs. On the demand side, people engaging in panic buying have left some markets with empty grocery store shelves, and others are struggling to finance their food needs amid job losses and slowdowns in business activity.<\/p>\n<p><strong>Egypt, for one, has rushed to secure its wheat needs by <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe1a9752-020c-40ef-8008-e76091d42f05\">continuing imports<\/a><\/strong><strong> during the annual harvest season<\/strong>, during which we typically hit \u201cpause\u201d on imports of the grain. The reticence of other producers to export has meant that state grain buyer GASC has only imported 240k tons of wheat since the local harvest began in mid-April. Its last tender attracted just five offers \u2014 the fewest in more than a year. But the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a45a3d1e-d9ca-412b-8528-d1068bb72196\">upcoming harvest season<\/a> in the Northern Hemisphere looks like it\u2019s going to start at the best time to help Egypt secure its target wheat supplies.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/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\/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=\"571570\" 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=\"571570\">\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\/17\/egypt-in-the-news-on-17-may-2020\/\">\r\n                            Egypt in the News on 17 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\/17\/egypt-in-the-news-on-17-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\/17\/egypt-in-the-news-on-17-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\/17\/egypt-in-the-news-on-17-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 17 May 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/egypt-in-the-news-on-17-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\/17\/egypt-in-the-news-on-17-may-2020\/&title=Egypt in the News on 17 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+17+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fegypt-in-the-news-on-17-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\/17\/egypt-in-the-news-on-17-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571570\" class=\"content-area-description single-story post-571570 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-egypt-in-the-news tag-enterpriseam tag-healthcare tag-state-information-service wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>NYT, WaPo bureau chiefs summoned over their coverage of Egypt:<\/strong> The State Information Service (SIS) summoned on Friday New York Times Cairo bureau chief Declan Walsh and Washington Times bureau chief Sudarsan Raghavan over their newspapers\u2019 recent coverage of Egypt, <a href=\"https:\/\/bit.ly\/2ADukg5\">according to a statement<\/a>. Walsh and Raghavan are expected to meet with SIS head Diaa Rashwan today. The summoning comes after <a href=\"https:\/\/www.nytimes.com\/2020\/05\/14\/world\/middleeast\/egypt-critics-arrests.html\">a piece Walsh penned<\/a> on freedom of expression in Egypt was published on Thursday.<\/p>\n<p><strong>An Ismailia doctor was the subject of harassment and threats from local community <\/strong><strong>members<\/strong> afraid of getting sick after her close proximity to covid-19 patients, <a href=\"https:\/\/apnews.com\/7aaf0329a6a5785844483f36d8e5eddd\">the AFP reports<\/a>. Healthcare professionals are facing rising hostilities from communities fearful of frontline defenders\u2019 potential for transmission.<\/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\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-information-service\/\">State Information Service<\/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=\"571571\" 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=\"571571\">\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\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/\">\r\n                            Ethiopia says it\u2019s under no obligation to seek Egypt\u2019s permission to start filling GERD                        <\/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\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/\" 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\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/')\">\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\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/\">\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=Ethiopia says it\u2019s under no obligation to seek Egypt\u2019s permission to start filling GERD&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/\">\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\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/&title=Ethiopia says it\u2019s under no obligation to seek Egypt\u2019s permission to start filling GERD\">\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=Ethiopia+says+it%E2%80%99s+under+no+obligation+to+seek+Egypt%E2%80%99s+permission+to+start+filling+GERD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd%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\/17\/ethiopia-says-its-under-no-obligation-to-seek-egypts-permission-to-start-filling-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571571\" class=\"content-area-description single-story post-571571 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-gerd tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ethiopia \u201cdoes not have a legal obligation to seek the approval of Egypt\u201d to begin <\/strong><strong>filling the controversial Grand Ethiopian Renaissance Dam<\/strong> and has made \u201ca remarkable and generous gesture in offering an agreement to Egypt,\u201d the African country said in a 22-page letter to the UN Security Council, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/369452\/Egypt\/Politics-\/Egypt-could-file-complaint-with-UN-Security-Counci.aspx\">according to Ahram Online<\/a>. This came after Ethiopia proposed an early agreement to move ahead with the first phase of filling the dam that was rejected by Egypt and Sudan for omitting key points of dispute over the timeline and long-term operation. The letter was also a response to an earlier Egyptian complaint to the UN. Ethiopia has repeatedly stated that it will begin filling the dam in July without committing to a formal agreement to resolve the dispute, and earlier this year walked away from US-backed talks.<\/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\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571573\" 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=\"571573\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Real Estate + Housing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/\">\r\n                            Ora Developers signs EGP 1 bn loan with Banque Misr to build ZED Sheikh Zayed with Orascom Construction                        <\/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\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/\" 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\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/')\">\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\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ora Developers signs EGP 1 bn loan with Banque Misr to build ZED Sheikh Zayed with Orascom Construction&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/\">\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\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/&title=Ora Developers signs EGP 1 bn loan with Banque Misr to build ZED Sheikh Zayed with Orascom Construction\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ora+Developers+signs+EGP+1+bn+loan+with+Banque+Misr+to+build+ZED+Sheikh+Zayed+with+Orascom+Construction+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction%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\/17\/ora-developers-signs-egp-1-bn-loan-with-banque-misr-to-build-zed-sheikh-zayed-with-orascom-construction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571573\" class=\"content-area-description single-story post-571573 post type-post status-publish format-standard hentry category-real-estate-housing tag-banque-misr tag-enterpriseam tag-ora-developers tag-orascom-construction tag-real-estate-housing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Orascom Construction has signed an agreement to build the first phase of ZED Sheikh Zayed with Ora Developers, who secured a EGP 1 bn loan Banque Misr for the project, according to <a href=\"https:\/\/ent.news\/2020\/5\/%D8%A7%D9%88%D8%B1%D8%A7%D8%B3%D9%83%D9%88%D9%85-%D8%A8%D9%8A%D8%A7%D9%86-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-12-5-2020.pdf\">a disclosure to the EGX (pdf)<\/a>. The first phase will see 600 homes completed by 2023. The entire project will consist of six phases containing 4.5k houses in total.<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-housing\/\">Real Estate + Housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571574\" 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=\"571574\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/\">\r\n                            Gov't considers restructuring railway authority\u2019s EGP 250 bn debt pile                        <\/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\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/\" 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\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/')\">\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\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/\">\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=Gov't considers restructuring railway authority\u2019s EGP 250 bn debt pile&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/\">\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\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/&title=Gov't considers restructuring railway authority\u2019s EGP 250 bn debt pile\">\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=Gov%27t+considers+restructuring+railway+authority%E2%80%99s+EGP+250+bn+debt+pile+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fgovt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile%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\/17\/govt-considers-restructuring-railway-authoritys-egp-250-bn-debt-pile\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571574\" class=\"content-area-description single-story post-571574 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-budgeting tag-debt tag-enterpriseam tag-infrastructure wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Officials are looking at ways to restructure EGP 250 bn in debt owed by the troubled Egyptian Railway Authority (ERA), <a href=\"https:\/\/bit.ly\/2AAmHa6\">Ittihadiya said in a statement<\/a>. The authority currently owes EGP 100 bn to the central bank and EGP 150 bn in government loans. The ERA <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc00990a-fff9-4b3e-a398-4893843cdcda\">is projected<\/a> to record nearly EGP 10 bn in operating losses this fiscal year alone and is expected to only make a third of the EGP 14.9 bn it needs to cover its operating costs.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budgeting\/\">budgeting<\/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\/infrastructure\/\">infrastructure<\/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=\"571575\" 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=\"571575\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/\">\r\n                            NBE-led banking consortium in negotiations for USD 600 mn loan to Red Sea Petroleum Refining Company                        <\/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\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/\" 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\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/')\">\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\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/\">\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=NBE-led banking consortium in negotiations for USD 600 mn loan to Red Sea Petroleum Refining Company&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/\">\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\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/&title=NBE-led banking consortium in negotiations for USD 600 mn loan to Red Sea Petroleum Refining Company\">\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=NBE-led+banking+consortium+in+negotiations+for+USD+600+mn+loan+to+Red+Sea+Petroleum+Refining+Company+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fnbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company%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\/17\/nbe-led-banking-consortium-in-negotiations-for-usd-600-mn-loan-to-red-sea-petroleum-refining-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571575\" class=\"content-area-description single-story post-571575 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-cib tag-debt tag-enterpriseam tag-finance tag-national-bank-of-egypt tag-national-bank-of-kuwait wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The National Bank of Egypt (NBE) is leading negotiations with Qatar National Bank, CIB and the National Bank of Kuwait to form a consortium that will provide a USD 600 mn loan to the Red Sea Petroleum Refining Company, <a href=\"https:\/\/bit.ly\/3fMJ3Fi\">according to Al Mal<\/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\/banking-finance\/\">BANKING + FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/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\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-kuwait\/\">National Bank of Kuwait<\/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=\"571577\" 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=\"571577\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Egypt Politics + Economics<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/\">\r\n                            Supreme Media Council issues nine new conditions for foreign media licenses                        <\/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\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/\" 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\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/')\">\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\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/\">\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=Supreme Media Council issues nine new conditions for foreign media licenses&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/\">\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\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/&title=Supreme Media Council issues nine new conditions for foreign media licenses\">\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=Supreme+Media+Council+issues+nine+new+conditions+for+foreign+media+licenses+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fsupreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses%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\/17\/supreme-media-council-issues-nine-new-conditions-for-foreign-media-licenses\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571577\" class=\"content-area-description single-story post-571577 post type-post status-publish format-standard hentry category-egypt-politics-economics tag-egypt-politics-economics tag-enterpriseam tag-media tag-regulation tag-salah-diab tag-supreme-media-council wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Supreme Media Council outlined yesterday nine new conditions foreign media organizations will have to meet before receiving licenses to operate in Egypt, according to <a href=\"https:\/\/bit.ly\/2ZbI77M\">a statement carried by Masrawy<\/a>. These include setting up a representation office, hiring a local legal advisor, and refraining from content which \u201cpromotes violence, hatred, contempt of religions, [redacted], or violates intellectual property rights.\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\/egypt-politics-economics\/\">Egypt Politics + Economics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/media\/\">media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/salah-diab\/\">Salah Diab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supreme-media-council\/\">Supreme Media Council<\/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=\"571578\" 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=\"571578\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/\">\r\n                            This could be the best image of Jupiter astronomers have ever taken                        <\/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\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/\" 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\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/')\">\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\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/\">\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=This could be the best image of Jupiter astronomers have ever taken&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/\">\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\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/&title=This could be the best image of Jupiter astronomers have ever taken\">\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=This+could+be+the+best+image+of+Jupiter+astronomers+have+ever+taken+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F17%2Fthis-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken%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\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/175.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571579\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/this-could-be-the-best-image-of-jupiter-astronomers-have-ever-taken\/175-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/175.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"175.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/175.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/175.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571578\" class=\"content-area-description single-story post-571578 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-astronomy tag-enterpriseam tag-space tag-technology wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>This could be the best image of Jupiter astronomers have ever taken: <\/strong>Researchers <a href=\"http:\/\/www.gemini.edu\/pr\/gemini-gets-lucky-and-takes-deep-dive-jupiter-s-clouds\">recently used<\/a> the Gemini North telescope in Hawaii and a technique referred to as \u201clucky imaging\u201d to develop a collection of ultra-high resolution images of Jupiter that reveal interesting things about the planet. The lucky imaging technique involves capturing a large number of images and filtering out only the sharpest.<\/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\/astronomy\/\">astronomy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/space\/\">space<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/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=\"571580\" 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=\"571580\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/17\/the-market-yesterday-93\/\">\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\/17\/the-market-yesterday-93\/\" 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\/17\/the-market-yesterday-93\/')\">\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\/17\/the-market-yesterday-93\/\">\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\/17\/the-market-yesterday-93\/\">\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\/17\/the-market-yesterday-93\/&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%2F17%2Fthe-market-yesterday-93%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\/17\/the-market-yesterday-93\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571580\" class=\"content-area-description single-story post-571580 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.69 | Sell 15.79<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.70 | Sell 15.80<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.68 | Sell 15.78<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 10,287 (-1.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 856 mn (23% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -26.3%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended Thursday\u2019s session down 1.1%. CIB, the index\u2019s heaviest constituent, ended down 0.5%. EGX30\u2019s top performing constituents were Ibn Sina Pharma up 1.1%, Orascom Investment Holding up 0.9%, and Kima up 0.3%. Thursday\u2019s worst performing stocks were Dice down 7.1%, ElSewedy Electric down 5.6% and TMG Holding down 4.3%. The market turnover was EGP 856 mn, and region investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -24.4 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +779.3 mn<br \/>\n <strong>Domestic<\/strong>: Net Short | EGP -755.0 mn<\/p>\n<p><strong>Retail<\/strong>: 45.0% of total trades | 48.8% of buyers | 41.2% of sellers<br \/>\n <strong>Institutions<\/strong>: 55.0% of total trades | 51.2% of buyers | 58.8% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 29.43 (+6.79%)<br \/>\n <strong>Brent:<\/strong> USD 32.50 (+4.40%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.65 MMBtu, (-2.08%, June 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,756.30 \/ troy ounce (+0.88%)<\/p>\n<p><strong>TASI:<\/strong> 6,716.98 (-0.06%) (YTD: -19.93%)<br \/>\n <strong>ADX:<\/strong> 4,067.03 (+0.20%) (YTD: -19.87%)<br \/>\n <strong>DFM:<\/strong> 1,894.47 (-1.39%) (YTD: -31.48%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,024.51 (-0.2%)<br \/>\n <strong>QE:<\/strong> 8,735.43 (-0.75%) (YTD: -16.21%)<br \/>\n <strong>MSM:<\/strong> 3,421.67 (-0.73%) (YTD: -14.05%)<br \/>\n <strong>BB: <\/strong>1,240.65 (+0.67%) (YTD: -22.95%)<\/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=\"571581\" 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\/17\/571581\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571581\" class=\"content-area-description single-story post-571581 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>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":571549,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-571548","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0fcd1161-e0ab-4eea-9059-8b9b63f51425","teaser":"","photo_url":"https:\/\/ent.news\/2020\/5\/166.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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