{"id":571758,"date":"2020-05-31T04:55:39","date_gmt":"2020-05-31T04:55:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=571758"},"modified":"2025-12-16T08:11:41","modified_gmt":"2025-12-16T08:11:41","slug":"egypt-closes-record-usd-5-bn-eurobond-with-strong-appetite-from-global-investors","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-closes-record-usd-5-bn-eurobond-with-strong-appetite-from-global-investors\/","title":{"rendered":"Egypt closes record USD 5 bn eurobond with strong appetite from global investors"},"content":{"rendered":"<section id=\"571760\" 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=\"571760\">\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\/31\/what-were-tracking-on-31-may-2020\/\">\r\n                            What we\u2019re tracking on 31 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\/31\/what-were-tracking-on-31-may-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have a stacked issue for you this morning, so let\u2019s get started.<\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Need a refresher on where we left things before the break? <\/strong>Understandable, given we just had what\u2019s likely to go down in history as the longest Eid El Fitr holiday ever. The big stories before we all shifted our brains into neutral were:<\/p><ul>\n<li>The Madbouly Cabinet had signed off on introducing <strong>a 1% \u201ccorona tax\u201d<\/strong> on all salaries and a 0.5% tax on pensions for one year. The measure still requires approval in the House and would go into effect on 1 July.<\/li>\n<li>We were debating <strong>the likely shape of Egypt\u2019s post-covid economic recovery <\/strong>(U? W?), with the government suggesting growth pick up again by the start of 2021, according to the government\u2019s outlook;<\/li>\n<li>The central bank had <strong>left interest rates on hold<\/strong>;<\/li>\n<li>The <strong>EGP had eased to a three-month low<\/strong> against the greenback at EGP 15.72. The USD is now changing hands at EGP 15.80;<\/li>\n<li>And the <strong>ban on international flights was extended indefinitely<\/strong> while most citizen-facing government services were declared closed until mid-June.<\/li>\n<\/ul><p><strong>We were at the peak of earnings season just before the break<\/strong>, with EFG Hermes (<a href=\"https:\/\/www.efghermes.com\/en\/InvestorRelations\/Earning%20Releases\/EFG%20Hermes%201Q2020-%20Earnings%20Release.pdf\">pdf<\/a>), Orascom Construction (<a href=\"https:\/\/bit.ly\/2zCl2k1\">pdf<\/a>), Sarwa Capital (<a href=\"https:\/\/www.egx.com.eg\/ar\/NewsDetails.aspx?NewsID=198088\">here<\/a>) and Talaat Moustafa Group (<a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/245720_2.PDF\">pdf<\/a>) all reporting 1Q2020 financials<\/p><p><strong>The total number of reported covid-19 cases is up 65% since we last wrote you <\/strong>on 21 May.<\/p><p><strong>Curfew now runs 8pm-6am<\/strong> as of yesterday, as the authorities ease the more restrictive 5pm-6am. The curfew is presently in effect until mid-June.<\/p><p><strong>Everyone now has to wear a mask in closed public spaces and on all public transport for <\/strong><strong>the next two weeks<\/strong> under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94b196e3-d276-4bda-804d-a1d65b1fdd3e\">new guidelines issued by Prime Minister Moustafa Madbouly<\/a> the week before Eid. This means shops, malls, markets and banks, workplaces and government offices. Cabinet spokesman Nader Saad said last night that the requirement does not extend to drivers in their personal automobiles, whether they are alone or with other passengers.<\/p><p><strong>Don\u2019t want to wear a mask?<\/strong> Get ready to fork over <a href=\"https:\/\/bit.ly\/3ckeO5R\">an EGP 4k fine<\/a>.<\/p><p><strong>Do masks work? <\/strong><a href=\"https:\/\/science.sciencemag.org\/content\/early\/2020\/05\/27\/science.abc6197.full\">Yes.<\/a> Why do you think surgeons and nurses wear them in operating theaters? While they provide a small measure of protection to the wearer, they\u2019re very effective in protecting all of the people around you from \u2026 you.<\/p><hr class=\"grey-line\"><p><strong>So, what\u2019s open and when?<\/strong><\/p><p><strong>Banks reopen today from <\/strong><strong>9:30am to 3pm<\/strong>, while employee hours will run from 9am to 4pm, <a href=\"https:\/\/ent.news\/2020\/5\/%D8%AA%D8%B9%D8%AF%D9%8A%D9%84-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B9%D9%8A%D8%AF-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A_.pdf\">according to a Central Bank of Egypt statement (pdf)<\/a>. Federation of Egyptian Banks head Mohamed El Etreby wants bank hours to go back to a full eight-hour work day, saying that keeping operating hours crunched results in more footfall and congestion at banks, <a href=\"https:\/\/bit.ly\/3ciRh5g\">reports Hapi Journal<\/a>.<\/p><p><strong>The EGX is also back today.<\/strong> The trading session begins at 10am and the closing bell will ring at 2:30 pm \u2014 one hour later than during Ramadan, according to <a href=\"https:\/\/ent.news\/2020\/5\/EGX-post-Eid-hours.pdf\">an EGX statement (pdf)<\/a>.<\/p><p><strong>The Interior Ministry is reopening as of tomorrow for passport issuance and work <\/strong><strong>permits<\/strong>, <a href=\"https:\/\/bit.ly\/2MgXCUd\">according to a statement<\/a>.<\/p><p><strong>Traffic police offices will also open tomorrow to issue and renew driving licenses <\/strong>after the five-day Eid hiatus, <a href=\"https:\/\/bit.ly\/3eChWvw\">the Interior Ministry said<\/a>. The government started to gradually restore some citizen services <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26bb5772-96d1-4e68-993f-7bdbc640b315\">last month<\/a>.<\/p><p><strong>Misdemeanor and appeals courts partially reopened yesterday across the country<\/strong> to hear appeals and announce verdicts in family, civil and college cases, <a href=\"https:\/\/alborsaanews.com\/2020\/05\/29\/1350786\">according to the local press<\/a>. Courts are expected to fully reopen on 13 June.<\/p><p><strong>Real estate registry offices remain closed<\/strong>, but are set to resume full operations in June, <a href=\"https:\/\/alborsaanews.com\/2020\/05\/29\/1350786\">the local press reports<\/a>.<\/p><p><strong>The Coptic Orthodox Church will look into the potential resumption of services at the end <\/strong><strong>of June<\/strong>, the church <a href=\"https:\/\/bit.ly\/2zMGYsL\">said yesterday<\/a>. The government has said it plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/94b196e3-d276-4bda-804d-a1d65b1fdd3e\">allow<\/a> houses of worship to gradually reopen as of mid-June, with limited prayers and ceremonies allowed.<\/p><p><strong>EgyptAir is operating a special flight to Frankfurt from Cairo this Tuesday<\/strong> for German citizens and EU residents, the <a href=\"https:\/\/twitter.com\/EGYPTAIR\/status\/1266142068956684289\">national flag carrier said<\/a>.<\/p><p><strong>Germany is also resuming charter flights to Hurghada <\/strong><strong>and seven other tourist <\/strong><strong>destinations in July<\/strong> as the country moves to lift worldwide travel restrictions it imposed in March, <a href=\"https:\/\/www.shorouknews.com\/mobile\/news\/view.aspx?cdate=21052020&amp;id=62849fcc-ad35-435a-9e4e-538a1a989588\">Al Shorouk reports<\/a>, quoting announcements from several major charter airlines including <a href=\"https:\/\/www.condor.com\/\">Condor Airlines<\/a>.<\/p><hr class=\"grey-line\"><p>Key news triggers coming up as we begin a new month tomorrow:<\/p><ul>\n<li><strong>PMI data for Egypt<\/strong>, Saudi Arabia and the UAE is due out on Wednesday, 3 June.<\/li>\n<li><strong>Foreign reserves<\/strong> figures for May should be out early next week.<\/li>\n<li><strong>Inflation data for May<\/strong> will land on Wednesday, 10 June.<\/li>\n<li><strong>The Central Bank of Egypt will meet to review interest rates<\/strong> on Thursday, 25 June.<\/li>\n<li>Founding members of the <strong>EastMed Gas Forum<\/strong> <a href=\"https:\/\/www.petroleum.gov.eg\/ar-eg\/media-center\/news\/news-pages\/Pages\/mop_20052020_01.aspx\">will meet in June<\/a> to ink the Cairo-based organization\u2019s charter. Egypt, Greece, Cyprus, Italy, Israel, Jordan and Palestine will coordinate regional energy policy via the body.<\/li>\n<\/ul><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/Covid-graph-30-May-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>Egypt has now disclosed a total of 23,449 confirmed cases of covid-19<\/strong> after the Health Ministry reported a record high 1,367 new infections yesterday. The ministry also said that another 34 people had died from the virus, taking the death toll to 913. We now have a total of 6,456 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 5,693 have fully recovered.<\/p><p><strong>The daily count of confirmed cases has been rising every day since Wednesday<\/strong>, when it hit 789 new cases. Egypt\u2019s death toll also reached a high of 34 on Friday and remained unchanged yesterday. There are signs the rate of doubling of infections may be speeding up after having slowed down previously. It took 14 days for total cases to double to 23,449 yesterday, compared to 15 days for them to double to 11,719 between 1 and 16 May. <a href=\"https:\/\/www.reuters.com\/article\/us-healthcare-coronavirus-egypt\/egypt-confirms-new-daily-record-of-1289-new-coronavirus-cases-idUSKBN235304\">Reuters<\/a>, <a href=\"https:\/\/www.thenational.ae\/world\/egypt-records-third-consecutive-all-time-high-virus-infection-rate-1.1026386\">the National<\/a>, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/370167\/Egypt\/Politics-\/Egypt-breaks-daily-record-for-coronavirus-infectio.aspx\">Ahram Online<\/a> and <a href=\"http:\/\/www.xinhuanet.com\/english\/2020-05\/31\/c_139101532.htm\">Xinhua<\/a> have all been tracking the figures.<\/p><p><strong>The rate of new infections could peak by mid-July<\/strong>, Higher Education Minister Khaled Abdel Ghaffar said (<a href=\"https:\/\/bit.ly\/2ytWI3j\">watch, runtime: 39:26<\/a>). Presidential health advisor and former health minister Mohamed Awad Tag Eldin, meanwhile, said last Thursday that the country could hit that milestone within two weeks, according to <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/370044\/Egypt\/Politics-\/Egypts-coronavirus-peak-in-two-weeks-Presidential-.aspx\">Ahram Online<\/a>.<\/p><p><strong>The Health Ministry says it is <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/photos\/a.825570437621323\/1607829836062042\/?type=3&amp;theater\">taking every step possible<\/a><\/strong><strong> to protect medical personnel<\/strong> after a frontline doctor, Walid Yehia Abdel Halim, died last Monday after contracting the virus, <a href=\"https:\/\/bit.ly\/3gCf0R4\">according to Masrawy<\/a>. The ministry has also added more employees to its covid-19 hotline to improve its responsiveness to incoming calls.<\/p><p><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/photos\/a.123442675873020\/172969574253663\/?type=3&amp;theater\">Tap or click here<\/a><\/strong><strong> for a full list of all hospitals offering tests for covid-19.<\/strong><\/p><p><strong>Aswan deputy governor Ghada Yehia tested positive for the virus<\/strong> on Wednesday and has since been placed under home quarantine, <a href=\"https:\/\/bit.ly\/36LJD2f\">according to Youm7<\/a>. Contact tracing on 51 individuals so far have turned negative results.<\/p><p><strong>MPs Nashwa El Deeb and Omar Watany have also tested positive<\/strong> and are each quarantining at a hospital, <a href=\"https:\/\/bit.ly\/3djBVPe\">Al Mal reports<\/a>, citing parliament sources.<\/p><p><strong>Authorities permanently shut down fifty stores and businesses in Giza were permanently<\/strong><strong> shut down <\/strong>for not abiding by the lockdown regulations during the Eid, Giza Governor Ahmed Rashid said, <a href=\"https:\/\/bit.ly\/3dkX5wc\">according to Mubasher<\/a>.<\/p><p><strong>Tourism Ministry sets up offices to inspect hotels with safety certificates: <\/strong>The Tourism Ministry has created an office at each of its branches dedicated to ensuring hotels with health safety certificates are adhering to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/911208cc-7e2c-43c6-9b09-9f249c961415\">the government\u2019s preventative measures<\/a>, according to <a href=\"https:\/\/bit.ly\/2XkwQAN\">Al Mal<\/a>. So far, 78 hotels, <a href=\"https:\/\/bit.ly\/2XNtCEy\">which the ministry listed here<\/a>, have been granted certificates.<\/p><p><strong>A helping hand for small business owners from the EBRD:<\/strong> The European Bank for Reconstruction and Development (EBRD) is launching an online learning and advice program for micro, small, and medium-sized enterprises (MSMEs) to help them navigate the economic pressure of the covid-19 pandemic, <a href=\"https:\/\/www.ebrd.com\/news\/2020\/ebrd-launches-online-learning-resource-for-small-businesses.html\">according to a statement<\/a>. The program, which is available at no charge through the EBRD\u2019s <a href=\"https:\/\/www.ebrdknowhowacademy.com\/lms\/\">Know How Academy<\/a>, \u201cwill also offer specific local information\u201d on where MSMEs can access financial support from governments and banks.<\/p><p><strong>The African Development Bank (AfDB) approved on Monday a USD 500k emergency<\/strong> <strong>assistance grant<\/strong> to Egypt that will provide food relief and help support vulnerable communities affected by the pandemic, <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/egypt-african-development-bank-approves-emergency-relief-aid-tackle-food-insecurity-vulnerable-workers-whose-livelihoods-are-impacted-covid-19-35832\">according to a statement<\/a>.<\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Covid-19 patients might no longer be infectious after 11 days of getting sick<\/strong>, a new study by infectious disease experts in Singapore suggests, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-24\/covid-19-patients-not-infectious-after-11-days-singapore-study?srnd=premium-middle-east\">according to Bloomberg<\/a>. If proven true, the findings might alter Singapore\u2019s patient discharge policy by expediting the release of patients that are still testing positive but have stopped being infectious.<\/p><p><strong>Japan may have beat corona without using the lockdown playbook:<\/strong> Despite not imposing lockdowns, shutting down any businesses, or testing a high percentage of the population, Japan\u2019s covid-19 death toll is dropping dramatically and the country is working to end their state of emergency, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-22\/did-japan-just-beat-the-virus-without-lockdowns-or-mass-testing?srnd=premium-middle-east&amp;sref=mmeFTDW1\">according to Bloomberg<\/a>. Experts are unsure of the exact recipe for Japan\u2019s secret sauce, but are looking at the government\u2019s efforts to contact trace and whether the country had encountered a different strain of the virus.<\/p><div class=\"stand-out\">\n<p class=\"web-image stand-out-borderless\"><a href=\"http:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/a_new_perspective_web-scaled.jpg?ssl=1\" alt=\"enterprise\"><\/a><br>\n Somabay is naturally shifting its mindset to adapt to a new course of direction, paving the way for what\u2019s yet to come. A new perspective is just over the horizon.<\/p>\n<\/div><p><strong>AND THE REST OF THE WORLD- <\/strong><\/p><p><strong>Protests are sweeping major cities in the United States<\/strong> with demonstrators from coast to coast expressing outrage over police killings of black citizens and systemic discrimination against minorities after the brutal on-camera murder of an unarmed black man by a white police officer in Minneapolis. The story has pushed covid-19 down (but not off) the front pages of the global press. <strong>Protesters flocked to the White House for a second night in a row and violence continued even as mayors imposed curfews<\/strong>. The story is dominating global front pages: <a href=\"https:\/\/www.ft.com\/content\/a8667eca-9ef0-455f-b604-4d0152fb8906\">FT<\/a> | <a href=\"https:\/\/www.nytimes.com\/2020\/05\/30\/us\/minneapolis-floyd-protests.html?action=click&amp;module=Spotlight&amp;pgtype=Homepage\">New York Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/george-floyd-protests-minneapolis-11590844180\">WSJ<\/a> | <a href=\"https:\/\/www.theguardian.com\/us-news\/2020\/may\/29\/george-floyd-killing-protests-us-police\">Guardian<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/us-minneapolis-police-protests\/u-s-protests-over-minneapolis-death-rage-on-amid-political-finger-pointing-idUSKBN2360FV\">Reuters<\/a> | <a href=\"https:\/\/www.cnbc.com\/2020\/05\/30\/protests-and-rioting-erupt-in-cities-across-the-us-as-anger-boils-after-the-killing-of-george-floyd.html\">CNBC<\/a> | <a href=\"https:\/\/www.businessinsider.com\/protests-death-george-floyd-minneapolis-new-york-denver-2020-5\">Business Insider<\/a>.<\/p><p><strong>The violence has prompted the resurrection of a trope familiar to anyone who lived<\/strong> <strong>through the events of 2011 and 2013 in Egypt. <\/strong>Go read Karen Attiah\u2019s <strong><a href=\"https:\/\/www.washingtonpost.com\/opinions\/2020\/05\/29\/how-western-media-would-cover-minneapolis-if-it-happened-another-country\/\">How Western media would cover Minneapolis if it happened in another country<\/a><\/strong><strong>.<\/strong><\/p><p><strong>King Cheeto is leaving the World Health Organisation.<\/strong> <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-trump-who\/trump-says-terminating-u-s-relationship-with-world-health-organization-over-virus-idUSKBN2352YJ\">Nuff said<\/a>.<\/p><p><strong>China is pushing ahead with a national security law for Hong Kong <\/strong>that domestic \u201cdemocracy activists and Western countries fear could erode the city\u2019s freedoms and jeopardise its role as a global financial hub.\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-hongkong-protests\/china-parliament-approves-hong-kong-security-bill-as-tensions-with-us-rise-idUSKBN2340FZ\">Reuters<\/a> has the story. The US has <a href=\"https:\/\/www.reuters.com\/article\/us-hongkong-protests\/china-media-bristles-at-u-s-moves-on-hong-kong-over-national-security-push-idUSKBN237022\">threatened sanctions<\/a> and the end to its special relationship with Hong Kong, while Canada, the UK, and Australia have <a href=\"https:\/\/www.cbc.ca\/news\/politics\/china-hong-kong-canada-trudeau-allies-1.5589349\">expressed concern<\/a> as China\u2019s leadership <a href=\"https:\/\/www.wsj.com\/articles\/beyond-hong-kong-an-emboldened-xi-jinping-pushes-the-boundaries-11590774190?mod=hp_lead_pos6\">pushes ahead<\/a> on issues on which they had previously faced international pushback.<\/p><p><strong>Small ray of sunshine #1- There are suggestions that \u201csmall signs of life\u201d are returning to <\/strong><strong>the US economy<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/4a42bf2d-81b2-49cc-bac4-dfa2586f6985\">Financial Times<\/a> writes, pointing to figures including rising footfall in stores, declining appetite for pantry staples including pasta and flour, as well as \u201can increase in traffic and a fall in panic purchases at the supermarket\u201d as being among the indicators to watch.<\/p><p><strong>Small ray of sunshine #2- Elon Musk\u2019s SpaceX has become the first private company to successfully launch <\/strong><strong>astronauts into orbit <\/strong>after the Falcon 9 rocket took off from the Kennedy Space Center in Florida yesterday with two US astronauts headed for the international space station, <a href=\"https:\/\/www.nytimes.com\/2020\/05\/30\/science\/spacex-launch-nasa.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">the New York Times reports<\/a>.<\/p><p><strong>Oh, and isn\u2019t this sort of how Planet of the Apes began?<\/strong> From Sky News: <a href=\"https:\/\/news.sky.com\/story\/coronavirus-monkeys-escape-with-covid-19-samples-after-attacking-lab-assistant-11996752\">Monkeys 'escape<\/a><a href=\"https:\/\/news.sky.com\/story\/coronavirus-monkeys-escape-with-covid-19-samples-after-attacking-lab-assistant-11996752\">with covid-19 samples' after attacking lab assistant<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dabaa-nuclear-plant\/\">Dabaa nuclear plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-qwoyxci\" data-v=\"4\" data-block-id=\"qwoyxci\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-qwoyxci-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-qwoyxci-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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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=\"571762\">\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\/31\/egypts-talk-shows-on-30-may-2020\/\">\r\n                            Egypt\u2019s talk shows on 30 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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             <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypts-talk-shows-on-30-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571762\" class=\"content-area-description single-story post-571762 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-aviation tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-madbouly-cabinet tag-osama-heikal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The nation\u2019s airwaves had wall-to-wall covid-19 coverage and commentary<\/strong> last night as we entered a new two-week period of semi-lockdown measures.<\/p>\n<p><strong>Egypt is currently approaching its peak infection rate and community spread phase<\/strong>, Information Minister Osama Heikal told El Hekaya\u2019s Amr Adib. While the government had been hoping to flatten the curve earlier and put a cap on the outbreak by the end of June, this scenario now seems unlikely, Heikal said. Authorities will be sitting down with medical experts today to listen to their medical opinions on procedures, Heikal noted (<a href=\"https:\/\/www.youtube.com\/watch?v=KTs-iiTpAlo\">watch, runtime: 4:54<\/a>).<\/p>\n<p><strong>A full lockdown doesn\u2019t appear to be in the cards:<\/strong> Heikal downplayed the notion that the government could move to impose a full lockdown in response to the rising number of cases, telling Adib that he doesn\u2019t see any real benefits from going for a full lockdown, particularly since many youth are asymptomatic carriers who infect their family members at home (<a href=\"https:\/\/www.youtube.com\/watch?v=q_e6XMkVnEo\">watch, runtime: 2:47<\/a>).<\/p>\n<p><strong>No, you do not need to wear a mask in your own car:<\/strong> Cabinet spokesman Nader Saad reassured Adib that there are no punitive measures in place for individuals who do not wear a face mask while in their personal vehicles, even if there are other passengers with them in the car. Saad stressed that the requirement for face masks is in place for public transport such as the metro, microbuses, and trains (<a href=\"https:\/\/www.youtube.com\/watch?v=52H-nDZnrG0\">watch, runtime: 12:02<\/a>). The Transport Ministry and Armed Forces are teaming up to sell 1 mn masks at train and metro ticket offices to ensure passengers comply with the rules, Transport Minister Kamel El Wazir told Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=TUeVNl30NvQ\">watch, runtime: 4:13<\/a>).<\/p>\n<p><strong>The Madbouly Cabinet will look into resuming international flights in mid-June or at the beginning of July<\/strong> during its next meeting this week, Saad told \u2018Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=M4IlJyIXK5k\">watch, runtime: 2:03<\/a>). Also on this week\u2019s meeting agenda: When houses of worship will be allowed to fully reopen, Saad told Adib.<\/p>\n<p><strong>Patients who exhibit any covid-19 symptoms are now immediately being treated while waiting for test results<\/strong>, which can take up to three days, advisor to the Health Minister for emergency and urgent care Sherif Wadie told Adib. Waiting for confirmation of their infection increases the likelihood that these patients would need ICU care, so administering treatment earlier is expected to cut down on the total number of patients admitted to the ICU (<a href=\"https:\/\/www.youtube.com\/watch?v=7jcps7-XYU8\">watch, runtime: 1:55<\/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\/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                <!-- <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\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-heikal\/\">Osama Heikal<\/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=\"571763\" 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=\"571763\">\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\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/\">\r\n                            Egypt closes record USD 5 bn eurobond issuance with strong appetite from global investors                        <\/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\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/\" 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\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/')\">\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\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/\">\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 closes record USD 5 bn eurobond issuance with strong appetite from global investors&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/\">\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\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/&title=Egypt closes record USD 5 bn eurobond issuance with strong appetite from global investors\">\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+closes+record+USD+5+bn+eurobond+issuance+with+strong+appetite+from+global+investors+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F31%2Fegypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors%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\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/247.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571764\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-closes-record-usd-5-bn-eurobond-issuance-with-strong-appetite-from-global-investors\/247-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/247.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"247.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/247.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/247.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571763\" class=\"content-area-description single-story post-571763 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-budgeting tag-emerging-markets tag-enterpriseam tag-eurobonds tag-finance tag-imf tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt closes record USD 5 bn eurobond issuance with strong appetite from global <\/strong><strong>investors: <\/strong>Egypt sold USD 5 bn in eurobonds in its largest-ever international issuance, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/release-a-22-5-2020.aspx\">the Finance Ministry said in a statement<\/a>. The issuance, which went to market on Thursday, 21 May, was 4.4x oversubscribed, having attracted bids for around USD 22 bn worth of bonds, \u201cconfirming the confidence of international markets in the performance of the Egyptian economy,\u201d the ministry said.<\/p>\n<p><strong>About the issuance:<\/strong> The three-tranche issuance was split into USD 1.25 bn in four-year bonds at a yield of 5.75%, USD 1.75 bn in 12-year bonds at 7.625%, and USD 2 bn in 30-year bonds at 8.875%. Proceeds will be set aside to cover the state\u2019s financing needs in FY 2020-2021, which are forecast to come at EGP 988 bn (c. USD 62.3 bn), as well as ramp up spending needed to combat the covid-19 outbreak.<\/p>\n<p><strong>There was global appetite for the issuance<\/strong>, with investors from Asia, Africa, North America, Europe, and the Middle East buying in. Nearly 60 of the 400 investors showing interest were newcomers to Egyptian eurobond sales. This helped guide final yields on the three tranches 50 bps lower than levels at which the bonds were marketed earlier in the day.<\/p>\n<p><strong>The ministry is on the lookout for cheaper ways to service debt. <\/strong>It said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a8bdd995-353d-421e-9c49-d78d0fc949be\">earlier this month<\/a> it will limit the number of bids it accepts in EGP-denominated bond sales until the end of FY2019-2020 to both reduce borrowing costs while continuing to diversify funding sources to keep up with its <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/10\/finance-ministry-drafts-more-realistic-comprehensive-debt-strategy-raises-egypts-public-debt-targets\/\">debt control targets<\/a>. Egypt sold USD 2 bn in eurobonds during its <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/17\/egypt-successfully-closes-usd-2-bn-triple-tranche-eurobond-issuance-6358\/\">last international issuance in November<\/a>.<\/p>\n<p><strong>The issuance is the latest move by the government to find new sources of funding<\/strong> to cover revenue shortfalls caused by the covid-19 pandemic. Egypt earlier this month secured a USD 2.8 bn rapid financing instrument from the IMF, and is reportedly hoping to acquire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c87e789b-9e47-4a01-a87a-7a463ad2a42e\">an additional USD 5 bn from the fund in the form of a stand-by arrangement<\/a>. \u201cAuthorities are moving preemptively to raise additional buffers amid an uncertain global environment,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-21\/egypt-tests-limits-of-investor-appetite-with-eurobond-issuance?sref=mmeFTDW1\">Bloomberg quoted<\/a> EFG head of macroeconomic research Mohamed Abu Basha as saying.<\/p>\n<p><strong>Advisors: <\/strong>BNP Paribas, Citigroup, HSBC, JPMorgan and Standard Chartered were tapped to arrange the sale, <a href=\"https:\/\/www.reuters.com\/article\/egypt-bonds\/update-4-egypt-sells-5-billion-in-three-tranches-of-bonds-document-idUSL8N2D31XD\">Reuters noted<\/a>. Zaki Hashem & Partners provided legal counsel on Egyptian laws to the arrangers, while Linklaters advised on English and US law, according to <a href=\"https:\/\/ent.news\/2020\/5\/Zaki-Hashem-Partners-advises-the-Joint-Lead-Managers-of-Egypt%E2%80%99s-largest-international-bond-issuance.pdf\">an emailed statement (pdf)<\/a>.<\/p>\n<p><strong>The flood of stimulus in advanced economies is driving appetite for EM debt: <\/strong>Bonds issued by African governments were some of the best performers in emerging markets in May as the wave of stimulus unleashed in the developed world sends investors in search of yield, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-22\/bond-rally-creates-a-dilemma-for-africa-issuers-facing-debt-wall?sref=mmeFTDW1\">Bloomberg said<\/a> in a commentary piece following Egypt\u2019s eurobond sale. The shift in sentiment could help defuse a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7c41168-b163-4562-b0b1-28688af5ef54\">potential debt crisis<\/a> for EM countries caused by capital flight in March.<\/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\/budgeting\/\">budgeting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eurobonds\/\">eurobonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571782\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"571783\" 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=\"571783\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-in-the-news-on-31-may-2020\/\">\r\n                            Egypt in the News on 31 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\/31\/egypt-in-the-news-on-31-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\/31\/egypt-in-the-news-on-31-may-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-in-the-news-on-31-may-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 31 May 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-in-the-news-on-31-may-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-in-the-news-on-31-may-2020\/&title=Egypt in the News on 31 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+31+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F31%2Fegypt-in-the-news-on-31-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\/31\/egypt-in-the-news-on-31-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571783\" class=\"content-area-description single-story post-571783 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-ministry tag-healthcare tag-journalism tag-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The covid-19 pandemic dominated the conversation about Egypt in the international press <\/strong><strong>over the weeklong break.<\/strong> The <a href=\"https:\/\/www.facebook.com\/Egyptian.Medical.Syndicate\/posts\/3093095937378460\">Medical Syndicate\u2019s warning<\/a> about the challenges faced by the nation\u2019s health system got pickup by <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-52805743\">BBC<\/a>, the <a href=\"https:\/\/apnews.com\/2359304d1976642dc8eb302ae79ecc7f\">Associated Press<\/a>, and the <a href=\"https:\/\/www.theguardian.com\/global-development\/2020\/may\/21\/egypt-doctors-ppe-testing-coronavirus\">Guardian<\/a>, among other outlets. <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-egypt-medics\/some-medics-say-they-are-muzzled-in-egypts-coronavirus-response-idUSKBN2352JX\">Reuters<\/a> looked at the state\u2019s reaction to dissent in the medical establishment. The State Information Service, meanwhile, is unhappy with covid-related coverage in the Washington Post, <a href=\"https:\/\/bit.ly\/2XtvNx6\">saying in a statement<\/a> that it had called in the paper\u2019s Cairo bureau chief Sudarsan Raghavan for a talk. The New York Times\u2019 Declan Walsh was also called in, <a href=\"https:\/\/bit.ly\/2X4nGIg\">another statement briefly noted.<\/a> Meanwhile, the <a href=\"https:\/\/www.latimes.com\/world-nation\/story\/2020-05-21\/rights-group-egypt-arrested-10-reporters-since-virus-hit\">Associated Press<\/a> reports that more than 10 journalists have been detained since the start of the pandemic.<\/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-ministry\/\">Health Ministry<\/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\/journalism\/\">journalism<\/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=\"571784\" 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=\"571784\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/\">\r\n                            Egypt, Ethiopia, Sudan to resume GERD talks \u2014 again                        <\/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\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/\" 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\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/')\">\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\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/\">\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, Ethiopia, Sudan to resume GERD talks \u2014 again&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/\">\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\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/&title=Egypt, Ethiopia, Sudan to resume GERD talks \u2014 again\">\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%2C+Ethiopia%2C+Sudan+to+resume+GERD+talks+%E2%80%94+again+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F31%2Fegypt-ethiopia-sudan-to-resume-gerd-talks-again%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\/31\/egypt-ethiopia-sudan-to-resume-gerd-talks-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571784\" class=\"content-area-description single-story post-571784 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-east-africa tag-enterpriseam tag-ethiopia tag-foreign-ministry tag-gerd tag-sudan tag-un tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Addis Ababa signals willingness to return to the GERD negotiation table \u2014 again:<\/strong> Ethiopia has agreed to resume talks on filling and operating the Grand Ethiopian Renaissance Dam (GERD) following a meeting between Prime Minister Abiy Ahmed and Sudanese PM Abdalla Hamdok, <a href=\"https:\/\/bit.ly\/2TVgqN3\">the Egyptian Foreign Ministry said in a brief statement<\/a> that is otherwise scant on details. The ministry stressed that the upcoming meeting must be \u201cserious and constructive\u201d to reach a \u201cfair, balanced, and comprehensive\u201d agreement between the three nations.<\/p>\n<p><strong>Background:<\/strong> The negotiations between the three countries had reached a deadlock in February after Ethiopia\u2019s unprompted decision to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fbb02e4c-4498-4cfd-9966-3325458c9a0c\">skip the final round of US-brokered talks<\/a> in Washington and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a943920b-fc95-4792-8861-a2b16ecb700d\">insisted on filling the dam<\/a> as early as July. But international pressure has been mounting on Ethiopia to return to the negotiation table, with both the <a href=\"https:\/\/eeas.europa.eu\/headquarters\/headquarters-homepage\/80028\/african-union-high-representative-vice-president-josep-borrell-speaks-commissioner-african_en\">EU<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-05-21\/diplomatic-pressure-mounts-on-ethiopia-over-filling-of-giant-dam?sref=mmeFTDW1\">China<\/a> joining the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21deba8a-f329-4ef4-ae58-d6a403004d9c\">UN<\/a> and the US in calling for a diplomatic settlement to end the dispute.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/east-africa\/\">east Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"571785\" 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=\"571785\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/\">\r\n                            Egyptian actor Hassan Hosny dies at age 89                        <\/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\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/\" 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\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/')\">\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\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/\">\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=Egyptian actor Hassan Hosny dies at age 89&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/\">\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\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/&title=Egyptian actor Hassan Hosny dies at age 89\">\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=Egyptian+actor+Hassan+Hosny+dies+at+age+89+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F31%2Fegyptian-actor-hassan-hosny-dies-at-age-89%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\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/252.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"571786\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/egyptian-actor-hassan-hosny-dies-at-age-89\/252-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/252.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"252.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/252.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/252.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571785\" class=\"content-area-description single-story post-571785 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Renowned actor Hassan Hosny died yesterday aged 89 after suffering a heart<\/strong><strong> attack<\/strong>, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/5\/32\/370132\/Arts--Culture\/Film\/Egypt%E2%80%99s-veteran-actor-Hassan-Hosny-dies-at-.aspx\">Ahram Online reports<\/a>. Hosny\u2019s six-decade career saw him settle into roles that spanned from the dramatic to the comical, with films like El-Karnak (1975) and El Nazer (2000).<\/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<section id=\"571787\" 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=\"571787\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/the-market-yesterday-98\/\">\r\n                            The Market Yesterday                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/the-market-yesterday-98\/\" 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\/31\/the-market-yesterday-98\/')\">\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\/31\/the-market-yesterday-98\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/05\/31\/the-market-yesterday-98\/\">\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\/31\/the-market-yesterday-98\/&title=The Market Yesterday\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F05%2F31%2Fthe-market-yesterday-98%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\/31\/the-market-yesterday-98\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571787\" class=\"content-area-description single-story post-571787 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.80 | Sell 15.90<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.81 | Sell 15.91<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.79 | Sell 15.89<\/p>\n<p><strong>EGX30<\/strong> (Thursday): 10,110 (-0.9%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.0 bn (42% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -27.6%<\/p>\n<p><strong>THE MARKET ON THURSDAY:<\/strong> The EGX30 ended 21 May\u2019s session down 0.9%. CIB, the index\u2019s heaviest constituent, ended down 2.7%. EGX30\u2019s top performing constituents were Cleopatra Hospitals up 5.2%, Juhayna up 2.9%, and El Sewedy Electric up 2.6%. Thursday\u2019s worst performing stocks were EFG Hermes down 4.1%, Egyptian Resorts down 3.0% and Ezz Steel down 2.8%. The market turnover was EGP 1.0 bn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -244.4 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +18.0 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +226.4 mn<\/p>\n<p><strong>Retail<\/strong>: 37.4% of total trades | 45.0% of buyers | 29.8% of sellers<br \/>\n <strong>Institutions<\/strong>: 62.6% of total trades | 55.0% of buyers | 70.2% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 35.49 (+5.28%)<br \/>\n <strong>Brent:<\/strong> USD 37.48 (+5.02%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.85 MMBtu, (+1.20%, July 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,751.70 \/ troy ounce (+1.35%)<\/p>\n<p><strong>TASI:<\/strong> 7,050.66 (+0.01%) (YTD: -15.96%)<br \/>\n <strong>ADX:<\/strong> 4,119.32 (-0.35%) (YTD: -18.84%)<br \/>\n <strong>DFM:<\/strong> 1,961.48 (-1.16%) (YTD: -29.06%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,455.55 (+0.04%)<br \/>\n <strong>QE:<\/strong> 8,873.16 (+0.19%) (YTD: -14.89%)<br \/>\n <strong>MSM:<\/strong> 3,520.80 (+2.18%) (YTD: -11.56%)<br \/>\n <strong>BB: <\/strong>1,276.06 (+0.52%) (YTD: -20.75%)<\/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=\"571788\" 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\/31\/571788\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-571788\" class=\"content-area-description single-story post-571788 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> 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":571759,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-571758","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2d7ac448-5e4f-44fc-be2c-106c29e2f6a4","teaser":"","photo_url":"https:\/\/ent.news\/2020\/5\/241.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>Egypt closes record USD 5 bn eurobond with strong appetite from global investors - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-closes-record-usd-5-bn-eurobond-with-strong-appetite-from-global-investors\/\" \/>\n<meta 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