{"id":571714,"date":"2020-05-21T04:03:13","date_gmt":"2020-05-21T04:03:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=571714"},"modified":"2025-12-16T08:10:12","modified_gmt":"2025-12-16T08:10:12","slug":"new-1-corona-tax-on-all-salaries-from-1-july-see-you-back-here-on-31-may-2020-were-off-next-week-for-eid-el-fitr-happy-holidays-everyone","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/new-1-corona-tax-on-all-salaries-from-1-july-see-you-back-here-on-31-may-2020-were-off-next-week-for-eid-el-fitr-happy-holidays-everyone\/","title":{"rendered":"New 1% corona tax on all salaries from 1 July? \r\n (See you back here on 31 May 2020 \u2014 we\u2019re off next week for Eid El Fitr. Happy holidays, everyone.)"},"content":{"rendered":"<section id=\"571716\" 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=\"571716\">\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\/21\/what-were-tracking-on-21-may-2020\/\">\r\n                            What we\u2019re tracking on 21 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\/21\/what-were-tracking-on-21-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 hope you all enjoy some time off with your families, because really, none of us have been \u201cworking from home\u201d the past few months \u2014 we\u2019re all at home, in a crisis, trying to work (often as we care for or worry about families \u2014 including elderly parents and children who need homeschooling). So, enough.<\/p><p><strong>We\u2019re taking the week off, too. <\/strong>Enterprise will be back in your inbox at the appointed hour on Sunday, 31 May \u2014 properly caffeinated and ready for whatever is next.<\/p><p><strong>The first day of Eid is set for Sunday \u2014 that\u2019s when new measures to control the spread <\/strong><strong>of the virus that <\/strong><strong>causes covid-19 go into effect:<\/strong> Curfew will run 5pm-6am CLT and just about all stores except supermarkets, pharmacies and bakeries will be closed until Saturday. Curfew resets to 8pm-6am CLT on Saturday, 30 May, and most citizen-facing government services including passport and visa renewals are suspended for an additional 15 day after the end of Eid.<\/p><p><strong>So, when do we eat? <\/strong>For the last time this Ramadan, we are pleased to advise you that Maghrib prayers are at 6:45pm and you\u2019ll have until 3:17am to finish caffeinating \/ having the sohour of your choice.<\/p><p><strong>THANK YOU ALL<\/strong> for having spent Ramadan with us. It\u2019s an honour to write to each and every one of you each weekday morning.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/Covid-graph-20-May-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Egypt has now disclosed a total of 14,229 confirmed cases of covid-19<\/strong> after <a href=\"https:\/\/bit.ly\/2ZkuAKW\">the Health<\/a><a href=\"https:\/\/bit.ly\/2ZkuAKW\">Ministry reported<\/a> <strong>a record 745 new infections yesterday<\/strong>, just ahead of the 720 cases it reported on Wednesday. The ministry also said that another 21 people had died from the virus (compared to 14 the day before), taking the death toll to 680. We now have a total of 4,584 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 3,994 have fully recovered.<\/p><p><strong>Anyone with symptoms of covid-19 will be able to seek testing at non-specialist state-run <\/strong><strong>hospitals starting today<\/strong>, Health Minister Hala Zayed said, <a href=\"https:\/\/bit.ly\/2Zn6gby\">according to a cabinet statement<\/a>. That means testing should be available at some 320 facilities nationwide, marking a substantial expansion of testing capacity. The Health Ministry will be asking people with minor symptoms of covid-19 to self-isolate at home until the results are in, while those with more severe symptoms will be kept on site until test results are in, Zayed said.<\/p><p><strong>The move came after the World Health Organization had earlier said that Egypt needed to <\/strong><strong>expand its testing capacity, <\/strong><a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-egypt\/egypt-to-offer-coronavirus-testing-in-all-general-hospitals-idUSKBN22W2UI\">Reuters<\/a> suggested yesterday, adding that the WHO didn\u2019t specify the level of testing it recommends.<\/p><p><strong>Cairo and Giza remain the country\u2019s hotspots<\/strong> with the highest infection rates nationwide, <a href=\"https:\/\/bit.ly\/2ZnW7ew\">cabinet said yesterday<\/a>.<\/p><hr class=\"grey-line\"><p><strong>I<\/strong><strong>rrigation Minister Mohamed Abdel Ati is quarantining at home for 14 days<\/strong> as a precaution after meeting with the Daqahliyah Governor Ayman Mokhtar shortly before the governor tested positive for covid-19 on Monday, he wrote on his Facebook page. Abdel Ati was tested for the virus on Tuesday, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20052020&amp;id=fabda652-cbe2-4422-b3ab-4486089a6ce7\">Al Shorouk reports<\/a>, and is awaiting the results.<\/p><p><strong>Fayoum University President Gaber Shadid has tested positive<\/strong> and is now in quarantine at the university\u2019s hospital, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1979491\">Al Masry Al Youm reports<\/a>.<\/p><p><strong>COVID + BUSINESS IN EGYPT-<\/strong><\/p><p><strong>Officials have cleared another 26 hotels in South Sinai, the Red Sea, Alexandria, and <\/strong><strong>Matrouh for reopening<\/strong>, bringing the total number of hotels that received the health certificates required to reopen to 44, <a href=\"https:\/\/bit.ly\/3bMGZtN\">Al Mal reports<\/a>.<\/p><p><strong>You\u2019re set if you planned a Cairo staycation for Eid: <\/strong>Joining the <a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/3071438292901800\">18 hotels already approved<\/a> are the Marriott Mena House, the Cairo Marriott, the JW Marriott, the Conrad Cairo and the Renaissance Cairo Mirage City, according to a <a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/3076334912412138?__tn__=-R\">ministry statement<\/a>.<\/p><p><strong>Private airlines are calling for lower interest rates on USD-denominated loans<\/strong> to finance their operating expenses, says <a href=\"https:\/\/alborsaanews.com\/2020\/05\/20\/1349081\">Yosry Abdel Wahab<\/a>, the head of a new lobby group for the private airline industry that\u2019s now forming. Private operators have been working together in recent weeks calling for a bailout package, including <a href=\"https:\/\/alborsaanews.com\/2020\/05\/16\/1345392\">successive requests<\/a> for lower airport fees, as the pandemic has brought tourism and commercial aviation to a halt.<\/p><p><strong>Hotels and other tourist facilities are getting a break on their electricity bills<\/strong>, where they won\u2019t have to make payments until October. The decision came following a meeting between the electricity and tourism ministers, <a href=\"https:\/\/bit.ly\/2LR9HPv\">Hapi Journal<\/a> writes.<\/p><p><strong>Advertising agencies have reportedly lost a combined EGP 200-250 mn in sales revenue <\/strong><strong>between January and April<\/strong>, <a href=\"https:\/\/bit.ly\/2LKoHyL\">Al Shorouk reported<\/a>, quoting Federation of Egyptian Industries member Ashraf Khairy. With advertising agencies locked into long-term contracts to rent billboards for outdoor ads (which they then on-sell to their clients for campaigns), Khairy is asking state agencies and companies to waive rents for the foreseeable future. Khairy had suggested <a href=\"https:\/\/bit.ly\/2AOARob\">earlier this month<\/a> that the industry is being hit particularly hard covid-19, with outdoor ads having taken the biggest blow. <strong>As many as 250k direct jobs in the industry are now a risk<\/strong>, the story claims.<\/p><hr class=\"grey-line\"><p><strong>AmCham is out with a survey of Egyptian businesses to gauge the private <\/strong><strong>sector\u2019s experiences of the pandemic <\/strong>and how they view the government\u2019s fiscal response. Of the 103 companies surveyed, half reported a moderate impact on their operations and 30% said the pandemic had severely impacted their business activity. All sectors expressed concern about how the virus\u2019 impact on finances and operations, while tourism, hospitality and healthcare firms reported \u201csevere workforce challenges\u201d and manufacturing and transport companies cited supply chain and operational disruptions as a key issue. <a href=\"http:\/\/www.amcham-egypt.org\/bic\/pdf\/corona1\/AmChamsurveyresultsApril2020.pdf\">Tap or click here to read the full report (pdf)<\/a>.<\/p><p><strong>DONATIONS-<\/strong><\/p><p><strong>USAID is providing the Egyptian Red Crescent (ERC) with a EGP 51 mn grant <\/strong>to support its covid-19 efforts, <a href=\"https:\/\/eg.usembassy.gov\/u-s-supports-egypts-response-to-coronavirus-covid-19\/\">according to a press release<\/a>.<\/p><p><strong>Ibnsina Pharma is donating EGP 4 mn to <\/strong><strong><a href=\"https:\/\/www.ahalena.gov.eg\/\">Ahalena<\/a><\/strong> \u2014 a government initiative to support day workers \u2014 and<strong> another EGP 1 mn to the Immigration Ministry<\/strong>, <a href=\"https:\/\/bit.ly\/2TnSPV4\">according to a cabinet statement<\/a>.<\/p><p><strong>Johnson &amp; Johnson has donated EGP 1 mn to the Egyptian Red <\/strong><strong>Crescent<\/strong>, <a href=\"https:\/\/bit.ly\/3cDiS1L\">according to Al Shorouk<\/a>.<\/p><p><strong>Banque du Caire and <\/strong><strong><a href=\"https:\/\/ahl-masr.ngo\/en\/ahlmasr-foundation\/our-story\/\">Ahl Masr Foundation<\/a><\/strong><strong> have inaugurated a covid-19 isolation facility <\/strong>with an inpatient capacity of 200 beds \u201cwith the aim of supporting state agencies and the health sector in Egypt,\u201d <a href=\"https:\/\/bit.ly\/3cM1o3m\">reports Al Mal<\/a>. BdC is <a href=\"https:\/\/bit.ly\/2X1S70z\">also working<\/a> with Misr El Kheir to provide food boxes for 50k families of day workers in Upper Egypt.<\/p><p><strong>The Egyptian Food Bank has been providing meals to Egyptians under quarantine <\/strong><strong>in university dorms<\/strong> in eight governorates since 9 May and will continue to do so until 5 June, <a href=\"https:\/\/bit.ly\/2z2Y1q8\">according to Al Shorouk<\/a>.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Yesterday saw the largest-yet single day tally of new cases globally<\/strong>, according to the <a href=\"https:\/\/www.cnbc.com\/2020\/05\/20\/new-coronavirus-cases-across-the-world-jump-by-the-most-in-a-single-day-who-says.html\">World Health Organization<\/a>, suggesting the pandemic still has a long way to go before it peaks even as <strong>some countries are easing lockdown restrictions<\/strong>.<\/p><p><strong>And there may be bad news out of China, where doctors fear the virus is mutating:<\/strong> Chinese doctors studying new clusters that emerged in the country\u2019s north say that patients are carrying the virus for longer periods of time and take longer to test negative, \u201csuggesting that the pathogen may be changing in unknown ways and complicating efforts to stamp it out,\u201d <a href=\"https:\/\/www.japantimes.co.jp\/news\/2020\/05\/20\/asia-pacific\/science-health-asia-pacific\/china-new-coronavirus-outbreak\/\">Bloomberg says<\/a>.<\/p><p><strong>IATA lays out blueprint for getting the aviation industry back on its feet:<\/strong> Governments and airlines must collaborate to provide passengers with self-service options to ensure safety and decongest traffic at airports, including collecting passenger health data ahead of travel and offering remote check-ins, automated bag drops and self-boarding, the <a href=\"https:\/\/www.iata.org\/en\/pressroom\/pr\/2020-05-20-01\/\">International Air Transport Association<\/a> recommends.<\/p><p><strong>The Evil Empire is gearing up to reopen its offices in July at 25% capacity<\/strong> as Facebook said it will require its staff to wear masks in situations where social distancing can\u2019t be maintained, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-20\/facebook-to-limit-offices-to-25-capacity-require-masks-at-work\">Bloomberg reports<\/a>. On a more responsible note, <strong>Matercard \u201cwill not ask employees to return to its worldwide corporate offices until they are comfortable <\/strong>that the sometimes fatal coronavirus is under control with vaccines or other measures,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-mastercard\/mastercard-to-allow-staff-to-work-from-home-until-virus-fears-subside-idUSKBN22W37A\">Reuters<\/a> writes.<\/p><p><strong>GLOBAL MACRO-<\/strong><\/p><p><strong>The outlook is growing ever-more gloomy for corporate profits in Europe despite gradual <\/strong><strong>reopening:<\/strong> Stoxx 600 companies are expected to report a 48.4% drop in 2Q2020 earnings (down from 46.7% forecast just a week ago), followed by a 35.3% drop in 3Q2020, <a href=\"https:\/\/www.reuters.com\/article\/us-europe-stocks-results\/outlook-for-european-corporate-profits-worsens-further-idUSKBN22W0MF\">Reuters reports<\/a>, citing Refinitiv data. The downwards revisions for earnings forecasts signal that <strong>analysts aren\u2019t penciling in a gradual economic recovery before 2021<\/strong>.<\/p><p><strong>US Senate moves to ban Chinese listings:<\/strong> The US Senate voted through legislation yesterday that could ban Chinese companies from listing shares on US exchanges or seeking investment from US investors, <a href=\"https:\/\/www.cnbc.com\/2020\/05\/20\/senate-passes-bill-on-oversight-of-chinese-companies-alibaba-shares-move-lower.html\">CNBC reports<\/a>.<\/p><p><strong>Sign of the times- World Bank makes disaster management expert its new chief <\/strong><strong>economist:<\/strong> The World Bank has appointed Carmen Reinhart, a professor at Harvard University who specializes in financial disasters, its new chief economist, <a href=\"https:\/\/www.ft.com\/content\/3f14aa7c-298d-4fab-b876-b10ea1ee0faa\">the FT says<\/a>.<\/p><p><strong>The UK sold its first-ever negative-yield three-year bonds yesterday<\/strong>, \u201creflecting growing investor expectations that the Bank of England may need to take additional steps to push inflation back to its 2% target,\u201d <a href=\"https:\/\/www.ft.com\/content\/3d576f71-6833-4a55-8b8c-f4abfb0ca172\">the Financial Times reports<\/a>. While the kingdom sold a one-month bond at a negative yield four years ago, yesterday\u2019s sale marks the first long-term bond the Bank of England has sold at a yield below zero. The bond sale comes after consumer price inflation in the UK dropped to a four-year low of 0.8%. The news comes as Bank of England Governor Andrew Bailey <a href=\"https:\/\/www.ft.com\/content\/68ce522a-3587-4cce-9bb2-b5efed5eaeba\">told MPs yesterday<\/a> that <strong>the UK <\/strong><strong>is contemplating cutting interest rates into negative territory<\/strong> for the first time.<\/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\/aly-el-moselhy\/\">Aly El Moselhy<\/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\/covid-19\/\">covid-19<\/a>\n                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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=\"571718\">\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\/21\/last-nights-talk-shows-for-thursday-21-may-2020\/\">\r\n                            Last night\u2019s talk shows for Thursday, 21 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\" 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          \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/last-nights-talk-shows-for-thursday-21-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571718\" class=\"content-area-description single-story post-571718 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 wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The only story of note on last night\u2019s talk shows: <strong>An MP who recovered from covid-19 took <\/strong><strong>shots at the Health Ministry. <\/strong><\/p>\n<p><strong>Infected during a committee meeting? <\/strong>Rep. Sherine Farrag, who tested positive for the virus that causes covid-19 earlier this month, says she has recovered after receiving treatment at an isolation hospital. The MP told Sada El Balad\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=mrM-RFV1Wt4\">watch, runtime: 13:45<\/a>) that she believes she was infected during a joint meeting of the House health and planning and budgeting committees and <strong>alleges the infection is widespread in the Health Minister\u2019s office<\/strong>. She also criticized the ministry for recently enacted guidelines that instruct health workers not to get tested for the virus unless they show symptoms. The Medical Syndicate criticized the same guidelines as \u201cdangerous\u201d in a statement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c4009cb-4933-43f0-a374-f0f317ad5a4a\">last week<\/a>.<\/p>\n<p><strong>Farrag made similar allegations in an appearance on Wael El Ibrachy\u2019s show on state <\/strong><strong>television <\/strong>(<a href=\"https:\/\/www.youtube.com\/watch?v=iwjGiOwlQyA\">watch, runtime 13:02<\/a>).<\/p>\n<p><strong>The MP\u2019s rounds of the talk shows were grist for the domestic press<\/strong>, state and independent alike. See coverage in <a href=\"https:\/\/akhbarelyom.com\/news\/newdetails\/3052048\/1\/%D9%85%D9%88%D8%B3%D9%8A-%D9%8A%D8%B7%D8%A7%D9%84%D8%A8-%D8%A7%D9%84%D8%B5%D8%AD%D8%A9-%D8%A8%D8%A7%D9%84%D8%B1%D8%AF-%D8%B9%D9%84%D9%89-%D8%A7%D8%AA%D9%87%D8%A7%D9%85-%D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8%D8%A9-%D8%B4%D9%8A%D8%B1%D9%8A%D9%86-%D9%81%D8%B1%D8%A7%D8%AC-%D9%84%D9%84%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A8%D9%86%D9%82%D9%84-%D8%A7%D9%84%D8%B9%D8%AF%D9%88%D9%8A\">Akhbar Al Youm<\/a> | <a href=\"https:\/\/www.youm7.com\/story\/2020\/5\/20\/%D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8%D8%A9-%D8%B4%D9%8A%D8%B1%D9%8A%D9%86-%D9%81%D8%B1%D8%A7%D8%AC-%D9%84%D9%80-%D8%A7%D9%84%D8%A5%D8%A8%D8%B1%D8%A7%D8%B4%D9%89-%D8%A3%D8%B5%D8%A8%D8%AA-%D8%A8%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7-%D9%84%D9%85%D8%AE%D8%A7%D9%84%D8%B7%D8%AA%D9%89-%D9%82%D9%8A%D8%A7%D8%AF%D8%A7%D8%AA-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9\/4786071\">Youm7<\/a> | <a href=\"https:\/\/www.elwatannews.com\/news\/details\/4781321\">El Watan<\/a> | <a href=\"https:\/\/almalnews.com\/%D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8%D8%A9-%D8%B4%D9%8A%D8%B1%D9%8A%D9%86-%D9%81%D8%B1%D8%A7%D8%AC-%D8%A5%D8%B5%D8%A7%D8%A8%D8%AA%D9%8A-%D8%A8%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7-%D9%82%D8%AF-%D8%AA\/\">Al Mal<\/a> | <a href=\"https:\/\/www.masrawy.com\/news\/news-videos\/details\/2020\/5\/20\/1791553\/-%D9%84%D9%85-%D9%8A%D8%AA%D8%A8%D8%B9%D9%88%D9%86-%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D8%A7%D9%84%D9%88%D9%82%D8%A7%D9%8A%D8%A9-%D8%B4%D9%8A%D8%B1%D9%8A%D9%86-%D9%81%D8%B1%D8%A7%D8%AC-%D8%A3%D8%B5%D8%A8%D8%AA-%D8%A8%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7-%D9%84%D9%85%D8%AE%D8%A7%D9%84%D8%B7%D8%A9-%D9%82%D9%8A%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D8%A9\">Masrawy<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/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=\"571719\" 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=\"571719\">\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\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/\">\r\n                            Egypt to introduce 1% tax on all salaries to fund covid-19 fight                        <\/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\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/\" 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\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/')\">\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\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/\">\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 to introduce 1% tax on all salaries to fund covid-19 fight&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/\">\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\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/&title=Egypt to introduce 1% tax on all salaries to fund covid-19 fight\">\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+to+introduce+1%25+tax+on+all+salaries+to+fund+covid-19+fight+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Fegypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight%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\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571720\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/egypt-to-introduce-1-tax-on-all-salaries-to-fund-covid-19-fight\/231-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571719\" class=\"content-area-description single-story post-571719 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-covid-19 tag-enterpriseam tag-legislation tag-payroll-tax tag-speed-round tag-tax 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>Cabinet plans 1% corona tax on all salaries, says measure would be in effect for one year <\/strong><strong>starting 1 July 2020:<\/strong> The Madbouly Cabinet has approved a draft law that would require companies to dock 1% from all employees\u2019 monthly salaries during FY2020-2021 to help fund efforts to contain the spread of the coronavirus, the Madbouly government <a href=\"https:\/\/bit.ly\/3cTGvDy\">announced in a statement yesterday<\/a>. All public- and private-sector employees will face the tax, which would be in place for 12 months starting from the beginning of the upcoming fiscal year on 1 July. A separate 0.5% tax will be levied on state pensions during the same period.<\/p>\n<p><strong>Who will this affect? Everyone.<\/strong> Yesterday\u2019s statement says that private sector workers, banking sector employees, civil servants, and employees of state-owned companies will all see 1% taken from their monthly salaries from July. Only people who earn below EGP 2k a month will be exempt from the levy.<\/p>\n<p><strong>What will the proceeds be used for?<\/strong> The money would be deposited into an account at the central bank and governed by rules to be drawn up by the cabinet. The better part will be earmarked for sectors and SMEs most affected by the pandemic, and the rest will be used to support vulnerable families and individuals, improve Egypt\u2019s healthcare facilities, and fund medical research.<\/p>\n<p><strong>What\u2019s next?<\/strong> The bill would need to clear the House of Representatives in a final vote at the general assembly, which is currently on a short recess until 7 June.<\/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\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/payroll-tax\/\">payroll tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"571736\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571737\" 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=\"571737\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Image of the Day<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/\">\r\n                            Is this the restaurant industry\u2019s absurdist post-covid future?                        <\/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\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/\" 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\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/')\">\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\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/\">\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=Is this the restaurant industry\u2019s absurdist post-covid future?&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/\">\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\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/&title=Is this the restaurant industry\u2019s absurdist post-covid future?\">\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=Is+this+the+restaurant+industry%E2%80%99s+absurdist+post-covid+future%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Fis-this-the-restaurant-industrys-absurdist-post-covid-future%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\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/233.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571738\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/is-this-the-restaurant-industrys-absurdist-post-covid-future\/233-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/233.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"233.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/233.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/233.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571737\" class=\"content-area-description single-story post-571737 post type-post status-publish format-standard has-post-thumbnail hentry category-image-of-the-day tag-covid-19 tag-enterpriseam tag-food-and-beverage tag-image-of-the-day tag-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Is this the restaurant industry\u2019s absurdist post-covid future?<\/strong> A bar in Maryland <a href=\"https:\/\/www.nbcnews.com\/video\/bumper-tables-ensure-revelers-keep-coronavirus-social-distancing-83627077821\">has found a<\/a><a href=\"https:\/\/www.nbcnews.com\/video\/bumper-tables-ensure-revelers-keep-coronavirus-social-distancing-83627077821\">novel way<\/a> of enforcing social distancing.<\/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\/food-and-beverage\/\">food and beverage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/image-of-the-day\/\">IMAGE OF THE DAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/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=\"571739\" 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=\"571739\">\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\/21\/egypt-in-the-news-on-21-may-2020\/\">\r\n                            Egypt in the News on 21 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\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-may-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/egypt-in-the-news-on-21-may-2020\/&title=Egypt in the News on 21 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+21+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Fegypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571739\" class=\"content-area-description single-story post-571739 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-egypt-in-the-news tag-enterpriseam tag-health tag-mohamed-salah tag-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>This morning in the foreign press:<\/strong> Egypt\u2019s daily tally has now risen every day for the past week \u2014 including a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95d72cce-947f-4998-9326-62b85d8d26de\">large 185-case surge on Tuesday<\/a> \u2014 prompting <a href=\"https:\/\/www.thenational.ae\/world\/mena\/coronavirus-egypt-again-posts-record-daily-high-for-infections-but-will-ease-restrictions-after-eid-1.1021877\">the National\u2019s<\/a> Hamza Hendawi to wonder if the peak of Egypt\u2019s epidemic is still yet to come. <a href=\"https:\/\/medicalxpress.com\/news\/2020-05-egypt-hospitals-critical-threshold-virus.html\">AFP<\/a>, meanwhile asks whether we\u2019re nearing a \u201ca critical threshold\u201d as cases continue to rise.<\/p>\n<p><strong>La Casa de Salah: <\/strong>Nasr City police forces arrested four heistmen who specialized in robbing shops using masks of Liverpool forward Mohamed Salah. <a href=\"https:\/\/sputniknews.com\/viral\/202005201079364586-police-in-egypt-arrest-four-robbers-wearing-liverpool-star-mohamed-salah-face-masks---report\/\">Sputnik<\/a>.and <a href=\"https:\/\/talksport.com\/football\/707822\/egypt-police-arrest-four-robbers-face-masks-liverpool-star-mo-salah\/\">Talksport<\/a> were among the foreign outlets taking note.<\/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\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-salah\/\">Mohamed Salah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571740\" 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=\"571740\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/will-the-coronavirus-spell-the-end-for-globalization\/\">\r\n                            Will the coronavirus spell the end for globalization?                        <\/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\/21\/will-the-coronavirus-spell-the-end-for-globalization\/\" 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\/21\/will-the-coronavirus-spell-the-end-for-globalization\/')\">\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\/21\/will-the-coronavirus-spell-the-end-for-globalization\/\">\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=Will the coronavirus spell the end for globalization?&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/will-the-coronavirus-spell-the-end-for-globalization\/\">\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\/21\/will-the-coronavirus-spell-the-end-for-globalization\/&title=Will the coronavirus spell the end for globalization?\">\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=Will+the+coronavirus+spell+the+end+for+globalization%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Fwill-the-coronavirus-spell-the-end-for-globalization%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\/21\/will-the-coronavirus-spell-the-end-for-globalization\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571740\" class=\"content-area-description single-story post-571740 post type-post status-publish format-standard hentry category-worth-watching tag-covid-19 tag-economy tag-enterpriseam tag-globalization tag-history tag-trade tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Will the coronavirus spell the end for globalization?<\/strong> Globalization and the preeminence of free trade has repeatedly come in waves since the height of the Roman Empire which should give us reason to trust that global trade for the most part will remain intact, according to this Financial Times video (<a href=\"https:\/\/www.ft.com\/video\/fa0705b9-74cc-4169-ab00-5b1d4216b120\">watch, runtime 10:08<\/a>). Following the downfall of the Roman Empire, which owed much of its success to efficient trade routes, it took several hundred years before large scale trade was carefully reinstituted by the Mongolian Empire and the Silk Road. The boom in global commerce that took place by connecting Asia to Europe eventually took a downturn after facilitating the spread of the plague to the rest of the world. But that didn\u2019t mark an end to trade. Neither did the two world wars, the Spanish Flu or the 2008 financial crisis. Globalization will likely remain afloat post-covid, but the bigger question remains whether trade as we know it will be able to survive the threats posed by climate change and cyberwarfare.<\/p>\n<p><strong>It\u2019s another indication that it is time to think about history in 500-year chunks. <\/strong>That\u2019s the (oversimplified) takeaway from Jo Guldi and David Armitage\u2019s <strong>The History Manifesto<\/strong>, which asks, \u201cWhy is 500 years better than five months or five years as a planning horizon? And why is history \u2014 especially long-term history \u2014 so essential to understanding the multiple pasts which gave rise to our conflicted present?\u201d<\/p>\n<p><strong>You can get The History Manifesto on <\/strong><strong><a href=\"https:\/\/www.amazon.com\/dp\/110743243X\/ref=cm_sw_r_cp_api_i_ZfFWEbMD6RP4A\">Amazon<\/a><\/strong> if you want to read it on your Kindle or <strong><a href=\"https:\/\/www.cambridge.org\/core\/what-we-publish\/open-access\/the-history-manifesto\">read it without charge<\/a><\/strong> on Cambridge University\u2019s open access website.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/globalization\/\">globalization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-watching\/\">worth watching<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571741\" 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=\"571741\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/\">\r\n                            Elsewedy subsidiary signs EGP 475 mn contract for East Owainat electric network                        <\/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\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/\" 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\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/')\">\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\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/\">\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=Elsewedy subsidiary signs EGP 475 mn contract for East Owainat electric network&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/\">\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\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/&title=Elsewedy subsidiary signs EGP 475 mn contract for East Owainat electric network\">\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=Elsewedy+subsidiary+signs+EGP+475+mn+contract+for+East+Owainat+electric+network+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Felsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network%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\/21\/elsewedy-subsidiary-signs-egp-475-mn-contract-for-east-owainat-electric-network\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571741\" class=\"content-area-description single-story post-571741 post type-post status-publish format-standard hentry category-energy tag-elsewedy-electric tag-energy tag-enterpriseam tag-infrastructure wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>A division of Elsewedy Electric has signed a EGP 475 mn EPC contract to electrify 50k acres in East Owainat on a turnkey basis, according to <a href=\"https:\/\/ent.news\/2020\/5\/East-Owainat-Press-Release-En_.pdf\">an emailed statement (pdf)<\/a>. The company will complete the project within eight months.<\/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\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"571742\" 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=\"571742\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/\">\r\n                            Desalination tenders pushed to 4Q2020 due to covid-19 travel restrictions                        <\/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\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/\" 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\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/')\">\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\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/\">\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=Desalination tenders pushed to 4Q2020 due to covid-19 travel restrictions&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/\">\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\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/&title=Desalination tenders pushed to 4Q2020 due to covid-19 travel restrictions\">\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=Desalination+tenders+pushed+to+4Q2020+due+to+covid-19+travel+restrictions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Fdesalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions%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\/21\/desalination-tenders-pushed-to-4q2020-due-to-covid-19-travel-restrictions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571742\" class=\"content-area-description single-story post-571742 post type-post status-publish format-standard hentry category-infrastructure tag-atter-hanoura tag-covid-19 tag-enterpriseam tag-finance-ministry tag-infrastructure tag-north-coast tag-public-private-partnership tag-red-sea tag-travel tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Global travel restrictions are delaying international firms from conducting assessments for the four proposed coastal desalination plants ahead of their scheduled tenders later this year, Ater Hanoura, head of the Finance Ministry\u2019s PPP division, <a href=\"https:\/\/bit.ly\/2WLMmoT\">told Al Mal<\/a>. The tenders for the plants were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6482e9c4-6b9f-4ec4-8c5f-4479294b7f0f\">initially slated<\/a> to go ahead in 2Q2020 but will now be pushed back to 4Q2020.<\/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\/atter-hanoura\/\">Atter Hanoura<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/north-coast\/\">north coast<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"571743\" 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=\"571743\">\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\/21\/fra-allows-mubasher-to-offer-valuation-services\/\">\r\n                            FRA allows Mubasher to offer valuation services                        <\/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\/21\/fra-allows-mubasher-to-offer-valuation-services\/\" 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\/21\/fra-allows-mubasher-to-offer-valuation-services\/')\">\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\/21\/fra-allows-mubasher-to-offer-valuation-services\/\">\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=FRA allows Mubasher to offer valuation services&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/fra-allows-mubasher-to-offer-valuation-services\/\">\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\/21\/fra-allows-mubasher-to-offer-valuation-services\/&title=FRA allows Mubasher to offer valuation services\">\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=FRA+allows+Mubasher+to+offer+valuation+services+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Ffra-allows-mubasher-to-offer-valuation-services%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\/21\/fra-allows-mubasher-to-offer-valuation-services\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571743\" class=\"content-area-description single-story post-571743 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-enterpriseam tag-investment-banking tag-mubasher-capital-holding tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Financial Regulatory Authority has licensed Mubasher Capital Holding\u2019s advisory arm to begin selling corporate valuation studies to its clients after it complied with regulations, Mubasher Chairman Ehab Rashad said, <a href=\"https:\/\/bit.ly\/36lWcB8\">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\/investment-banking\/\">investment banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubasher-capital-holding\/\">Mubasher Capital Holding<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571744\" 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=\"571744\">\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\">Basic Materials + Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/\">\r\n                            Galina-Agrofreeze to invest EGP 87 mn in its new factory                        <\/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\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/\" 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\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/')\">\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\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/\">\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=Galina-Agrofreeze to invest EGP 87 mn in its new factory&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/\">\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\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/&title=Galina-Agrofreeze to invest EGP 87 mn in its new factory\">\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=Galina-Agrofreeze+to+invest+EGP+87+mn+in+its+new+factory+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F21%2Fgalina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory%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\/21\/galina-agrofreeze-to-invest-egp-87-mn-in-its-new-factory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571744\" class=\"content-area-description single-story post-571744 post type-post status-publish format-standard hentry category-basic-materials-commodities tag-abdel-wahed-soliman tag-basic-materials-commodities tag-enterpriseam tag-galina-agrofreeze wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Frozen fruit and vegetables producer <a href=\"http:\/\/www.galina-eg.com\/\">Galina\u2013Agrofreeze<\/a> is investing EGP 87 mn to build <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5065d92e-fa1c-4439-aaf5-081978659c64\">a new factory<\/a>, Chairman Abdel Wahed Soliman <a href=\"https:\/\/bit.ly\/36eXqhm\">told Al Mal<\/a>. The company secured a EGP 37 mn loan from Bank of Alexandria and the Saudi Investment Bank and will self-finance the remaining EGP 50 mn, he said. The company announced in February that it had broken ground on the factory.<\/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\/abdel-wahed-soliman\/\">Abdel Wahed Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/basic-materials-commodities\/\">Basic Materials + Commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/galina-agrofreeze\/\">Galina-Agrofreeze<\/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=\"571745\" 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=\"571745\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/21\/my-wfh-routine-basil-moftah-general-partner-at-global-ventures\/\">\r\n                            My WFH Routine: Basil Moftah, general partner at Global Ventures                        <\/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\/21\/my-wfh-routine-basil-moftah-general-partner-at-global-ventures\/\" 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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Recently we have been looking a lot at companies that are doing well because of covid-19 such as health tech companies. We like companies that are generating revenues with proven products and a good market fit looking to scale their business.<\/p>\n<p><strong>I usually wake up at around 7:00 am<\/strong>, check some emails and the news (which I'm not too proud to be doing first thing in the morning) and have breakfast. I usually start work around 9:30 am in a room I\u2019ve made my home office and until 2:00-3:00 pm it's calls and emails. I have lunch with my family at 3:00 pm and take a short 30 minute break to sit in the garden with my wife for a quick chat before getting back into things until around 7:30-8:00 pm. I wear shorts now though; I don't wear trousers, which is great.<\/p>\n<p><strong>For every two to three hours of work I take a half-hour break<\/strong> to check on my kids, try to help out with some homework, hang out with my wife, or indulge in one of our daily family pranks. I also highly recommend eating ice cream with whipped cream at home. It really helps as a mental break and is a lot of fun.<\/p>\n<p><strong>We have a new puppy that we\u2019ve been trying to teach new tricks.<\/strong> Unfortunately he hasn't learned very many but he\u2019s still fun to play with. I try to go for a swim sometimes to wind down as well.<\/p>\n<p><strong>As a general partner of a fund you get to meet new entrepreneurs and listen to new business ideas<\/strong> and pitches, which can be very exciting. But there are a lot of other mundane but no less important tasks: Administering the fund, and making sure that all the accounting, the legal and technical things are in order. We are lucky that we have an awesome team at Global Ventures that supports us.<\/p>\n<p><strong>Our first USD 50 mn fund has made 14 investments over the last two years<\/strong>. We have three investments in food tech: <a href=\"https:\/\/web.lunchon.ae\/\">LUNCH:ON<\/a>, <a href=\"https:\/\/www.kitopi.com\/\">Kitopi<\/a> and <a href=\"https:\/\/www.elmenus.com\/\">El Menus<\/a>. We also have investments in the fintech space with a company called <a href=\"https:\/\/www.tribal.credit\/\">Tribal<\/a> that does credit cards for startups, and <a href=\"https:\/\/www.mamopay.com\/\">Mamo Pay<\/a>, which is a money transfer app for people who don't have bank accounts. We've also worked with B2B software enterprise companies and a cybersecurity company. <a href=\"https:\/\/www.heliumhealth.com\/\">Helium Health<\/a> in Nigeria has also been a recent investment in health tech that we\u2019ve added to our portfolio.<\/p>\n<p><strong>Over the last couple of years we've barely worked from the office.<\/strong> We've always been active in going out to meet entrepreneurs and attending conferences and events, but we still had some time to get together as a team and learn from each other or at least socialize. We started our lockdown here in Dubai towards the end of March so we\u2019ve been at it for a full two months now. With meetings and virtual happy hours over Zoom and Google Hangouts, it has been a relatively smooth transition.<\/p>\n<p><strong>What I've found most fascinating about WFH is how it has challenged learning.<\/strong> There's so much learning that happens within a physical office space, purely by osmosis, and without necessarily speaking. WFH gets in the way of that kind of learning.<\/p>\n<p><strong>You realize pretty quickly that when you're home and working you can end up working all the time. <\/strong>This period proves that there's a lot that can be done without needing to commit that extra time to travel and commuting but it can also become a little overwhelming without barriers between work and personal time.<\/p>\n<p><strong>I've had more time to think about what makes a good investment:<\/strong> A great product in a bad market is really tough; a bad product in a good market can be a better opportunity. In our case, we like to look at where there's not so much competition or when something can be disrupted with technology. Finding great markets is the challenge of investing.<\/p>\n<p><strong>Having been temporarily isolated earlier in my career I\u2019ve been better able to cope: <\/strong>When I first started my career my company moved me to their office in Italy where I didn\u2019t know anyone, couldn\u2019t speak the language and had never lived on my own before. It felt very lonely and isolating, especially for someone who loves socializing and going out but it was an important learning experience that I think prepared me for what we\u2019re going through.<\/p>\n<p><strong>I\u2019ve been watching <\/strong><strong><a href=\"https:\/\/www.netflix.com\/watch\/70143824?source=35\">How I Met Your Mother<\/a><\/strong>, which I\u2019ve enjoyed because it doesn't really matter which episode you're on \u2014 they're just funny. I've also been watching the Michael Jordan documentary, <a href=\"https:\/\/www.netflix.com\/watch\/80203144?source=35\">The Last Dance<\/a>, which I would highly recommend for lessons on leadership, commitment and winning.<\/p>\n<p><strong><a href=\"https:\/\/www.goodreads.com\/en\/book\/show\/51788433\">Fear of Missing Out by Patrick Mcguiness<\/a><\/strong><strong> (who coined the term FOMO) has been an interesting read recently.<\/strong> I\u2019ve been enjoying the <a href=\"https:\/\/www.nytimes.com\/\">New York Times\u2019<\/a> thoughtful analysis on this pandemic but I've become weary of other media outlets because everyone has been scaring the hell out of me.<\/p>\n<p>When things cool down the first thing we're doing is holding a team meeting. <strong>But I'm personally looking forward to just going to the beach. <\/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\/basil-moftah\/\">Basil Moftah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-ventures\/\">Global Ventures<\/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\/healthtech\/\">healthtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/middle-east\/\">Middle East<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/north-africa\/\">North Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/work-from-home\/\">Work from home<\/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=\"571747\" 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=\"571747\">\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\/21\/the-market-yesterday-97\/\">\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            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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 15.77 | Sell 15.87<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.77 | Sell 15.87<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.75 | Sell 15.85<\/p>\n<p><strong>EGX30<\/strong> (Wednesday): 10,205 (-1.5%)<br \/>\n <strong>Turnover:<\/strong> EGP 548 mn (21% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -25.9%<\/p>\n<p><strong>THE MARKET ON WEDNESDAY:<\/strong> The EGX30 ended Wednesday\u2019s session down 1.5%. CIB, the index\u2019s heaviest constituent, ended down 1.1%. EGX30\u2019s top performing constituent was Credit Agricole up 0.4%. Yesterday\u2019s worst performing stocks were Egyptian Resorts down 8%, Cleopatra Hospital down 4.8% and Sidi Kerir Petrochemical down 4.0%. The market turnover was EGP 548 mn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -25.8 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +0.5 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +25.3 mn<\/p>\n<p><strong>Retail<\/strong>: 53.9% of total trades | 49.9% of buyers | 58.0% of sellers<br \/>\n <strong>Institutions<\/strong>: 46.1% of total trades | 50.1% of buyers | 42.0% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 33.62 (+0.39%)<br \/>\n <strong>Brent:<\/strong> USD 36.03 (+0.78%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.76 MMBtu, (-0.40%, Jun 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,746.20 \/ troy ounce (-0.34%)<\/p>\n<p><strong>TASI:<\/strong> 7,050.17 (+0.08%) (YTD: -15.96%)<br \/>\n <strong>ADX:<\/strong> 4,130.84 (+1.39%) (YTD: -18.62%)<br \/>\n <strong>DFM:<\/strong> 1,933.49 (+0.12%) (YTD: -30.07%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,277.01 (-0.2%)<br \/>\n <strong>QE:<\/strong> 8,856.15 (+0.61%) (YTD: -15.05%)<br \/>\n <strong>MSM:<\/strong> 3,386.66 (-0.20%) (YTD: -14.93%)<br \/>\n <strong>BB: <\/strong>1,261.12 (+0.33%) (YTD: -21.68%)<\/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=\"571748\" 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\/21\/571748\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571748\" class=\"content-area-description single-story post-571748 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): 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>23-30 May (Saturday-Saturday): Eid El Fitr holiday for the public, private, and banking sectors.<\/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>13 June (Saturday): Earliest date on which suspension of international flights to \/ from Egypt expires.<\/p>\n<p>13 June (Saturday): Earliest date by which restaurants, gyms, nightclubs, museums and archaeological sites will reopen.<\/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>12 July (Sunday): North Cairo Court <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/245503_1.pdf\">will hold a court session<\/a> for the international arbitration case filed by Syrian Antrados against Porto Group for USD 176 mn after being pushed back from an initial 17 May court date.<\/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":571715,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-571714","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d1d0ddc0-cd87-4f75-aa4f-fd3d6c23ab16","teaser":"","photo_url":"https:\/\/ent.news\/2020\/5\/229.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New 1% corona tax on all salaries from 1 July?  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