{"id":572066,"date":"2020-06-10T04:04:40","date_gmt":"2020-06-10T04:04:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=572066"},"modified":"2025-12-16T08:21:56","modified_gmt":"2025-12-16T08:21:56","slug":"home-electricity-prices-are-going-up","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/home-electricity-prices-are-going-up\/","title":{"rendered":"Home electricity prices are going up"},"content":{"rendered":"<section id=\"572068\" 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=\"572068\">\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\/06\/10\/what-were-tracking-on-10-june-2020\/\">\r\n                            What we\u2019re tracking on 10 June 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\/06\/10\/what-were-tracking-on-10-june-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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Cabinet\u2019s covid-19 committee said last week that it would review today the schedule on which it would ease some lockdown measures including the flight ban, which is presently due to expire on Sunday, 14 June. Officials <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/371756\/Business\/Economy\/Egyptian-aviation-offers-incentives-to-encourage-i.aspx\">said yesterday<\/a> that they were giving 20-50% discounts on landing, parking and ground services fees at Sharm El Sheikh, Hurghada and Matrouh airports to encourage charters when airspace reopens.<\/p>\n<p><strong>Inflation figures for the month of May are due out today<\/strong> and central bank watchers around the world will cast their eyes to the United States as the US Federal Reserve\u2019s open market committee kicks off its two-day meeting. Jay Powell & Co will offer their first economic forecasts in six months when the meeting wraps tomorrow. The FT has a list of <a href=\"https:\/\/www.ft.com\/content\/c44f65bc-fa31-4d72-a102-8bb13604e1b1\">six things to watch as the Fed meets<\/a>.<\/p>\n<p><strong>PSA #1- It\u2019s going to be hot today. <\/strong>Look for the mercury to spike to 40\u00b0C in the capital city today, according to our favorite weather app, cooling to 21\u00b0C overnight.<\/p>\n<p><strong>PSA #2- What part of \u201cstay home\u201d don\u2019t you get? <\/strong>Coronavirus patients are most infectious when they first feel unwell, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-who-symptoms\/coronavirus-patients-most-infectious-when-they-first-feel-unwell-who-idUSKBN23G2LZ\">WHO experts said<\/a> yesterday.<\/p>\n<p>Also on the horizon:<\/p>\n<p><strong>We\u2019re inching closer to House approval of the next state budget:<\/strong> The House Planning and Budgeting Committee approved yesterday parliament\u2019s allocations under the state budget for the upcoming fiscal year, <a href=\"https:\/\/bit.ly\/2MIF9jz\">Al Mal reports<\/a>. The committee has been holding piecemeal reviews and votes on the overall budget before handing it over to the general assembly for a final vote, which is scheduled for later this month. Parliament is expected to approve the budget before the current fiscal year ends on 30 June, though it has occasionally done so after that deadline. If that happens, spending continues as if the previous year\u2019s budget had rolled forward to the new fiscal year.<\/p>\n<p><strong>SMART POLICY- <\/strong>The budget has earmarked EGP 447.3 bn for 691 green energy, transportation and housing projects during the upcoming fiscal year, according to a Planning Ministry <a href=\"https:\/\/bit.ly\/30sWBAS\">statement<\/a>. Around half of this amount is earmarked for Metro line upgrades as well as a new high-speed electric rail line linking the new administrative capital to Ain Sokhna and Alamein. Other projects include sustainable housing in Upper Egypt and renewable energy plants.<\/p>\n<p><strong>State grain buyer GASC is looking to tap the global grain market <\/strong><strong><a href=\"https:\/\/ara.reuters.com\/article\/businessNews\/idARAKBN23G2UW\">for the fourth time<\/a><\/strong> during the current 2020-2021 domestic harvest season. GASC, the world\u2019s largest grain buyer, is shoring up reserves after signals earlier during the covid-19 pandemic that sellers might ban exports. GASC purchased 120k tonnes of Ukrainian wheat last week as it looks to import a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c57e2b6-a822-479c-b98c-fe3a414b6787\">total of 800k tonnes<\/a> to help shore up its strategic reserves.<\/p>\n<p><strong>We\u2019re going to see a partial solar eclipse on Sunday 21 June<\/strong>, according to the National Research Institute of Astronomy and Geophysics, <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/371785\/Egypt\/Politics-\/Egypt-to-witness-partial-solar-eclipse-on--June-.aspx\">Ahram Online<\/a> reports. The eclipse will be visible from 6:24am to 8:24am \u2014 just make sure to not look directly into the sun without a pair of sunglasses on.<\/p>\n<p>Keep your eye on:<\/p>\n<ul>\n<li><strong>The Central Bank of Egypt will meet to review interest rates<\/strong> on Thursday, 25 June.<\/li>\n<li><strong>Founding members of the EastMed Gas Forum will meet this month<\/strong> to ink the Cairo-based energy organization\u2019s charter.<\/li>\n<\/ul>\n<p><strong>** What about your first e-learning for you? <\/strong>The Madbouly government <a href=\"https:\/\/bit.ly\/2Yao5bu\">signaled this week<\/a> that e-learning could be on the menu again this fall \u2014 by itself or as part of a hybrid approach. <strong><a href=\"https:\/\/www.surveymonkey.com\/r\/2LFC6YJ\">Tell us how e-learning is working out in your household<\/a><\/strong> in a poll for our weekly Blackboard focus on education. As is our custom, we\u2019ll draw the names of three respondents who will receive an Enterprise mug and a bag of our favourite coffee from our friends at 30 North. <strong><a href=\"https:\/\/www.surveymonkey.com\/r\/2LFC6YJ\">Tap or click here to take the survey.<\/a><\/strong> It\u2019s quick and painless, we promise.<\/p>\n<p><strong>COVID-19 IN EGYPT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2zok5Mk\">confirmed<\/a><\/strong><strong> 35 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 1,306. Egypt has now disclosed a total of 36,829 confirmed cases of covid-19, after the ministry <strong>reported 1,385 new infections<\/strong> yesterday. We now have a total of 11,071 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 9,786 have fully recovered.<\/p>\n<p><strong>Companies in 10 industries most affected by the pandemic will be given leeway in <\/strong><strong>remitting<\/strong><strong> social insurance<\/strong> for their employees as long as they don\u2019t resort to layoffs, according to <a href=\"https:\/\/bit.ly\/3dNc4zf\">a decision<\/a> by Social Solidarity Minister Nivine Kabbag. Aviation, hospitality and tourism, healthcare, media, contractors, and manufacturing are among the eligible industries and will receive temporary proof of coverage if they pay 40% of the monthly dues or commit to installment plans.<\/p>\n<p><strong>Business at Uber\u2019s Careem arm has started to rebound across the Mideast<\/strong> as lockdown restrictions ease. Business is still down 50-60% y-o-y but has improved on the 80% drop seen in March and April, CEO Mudassir Sheikha told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-09\/uber-s-middle-east-unit-careem-sees-recovery-after-80-slump?srnd=premium-middle-east\">Bloomberg TV<\/a> on Tuesday. Ride-hailing sister companies Uber and Careem disclosed on Monday that they had indefinitely <a href=\"https:\/\/enterprise.press\/#what-were-tracking-today\">suspended recruiting new drivers<\/a> amid the slump in activity.<\/p>\n<p><strong>The market for air conditioners has dropped 50% y-o-y <\/strong>as consumers reportedly fear that ACs could help spread the virus that causes covid-19, Deputy Head of the Air Conditioning and Refrigeration Division in the Chamber of Commerce Zizi El Malat told the <a href=\"https:\/\/www.alborsaanews.com\/2020\/06\/09\/1355511\">local press<\/a>.<\/p>\n<p><strong>Repatriation flights start on Saturday <\/strong>as EgyptAir and Air Cairo look to <a href=\"https:\/\/bit.ly\/2XMn2zJ\">bring home<\/a> 3k nationals stranded in Qatar. The two airlines are also running <a href=\"https:\/\/www.gov.uk\/foreign-travel-advice\/egypt\/return-to-the-uk\">repatriation flights to London<\/a> from Cairo on Saturday, 13 June and Friday, 19 June.<\/p>\n<p><strong>Another 19 hotels are cleared to reopen <\/strong>under rules issued by the Tourism Ministry, bringing the total to 174, according to <a href=\"https:\/\/bit.ly\/2YibeEd\">a ministry statement<\/a>.<\/p>\n<p class='web-image stand-out-borderless' ><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/a_new_perspective_web-scaled.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>ON THE GLOBAL FRONT-<\/strong><\/p>\n<p><strong>Fauci is \u201calmost certain\u201d a vaccine will be found, but warned that the outbreak is \u201cfar <\/strong><strong>from over\u201d globally <\/strong>even as <a href=\"https:\/\/www.nytimes.com\/2020\/06\/09\/world\/coronavirus-reopenings.html?action=click&module=Top%20Stories&pgtype=Homepage\">countries everywhere begin to reopen<\/a> their economies, the <a href=\"https:\/\/www.nytimes.com\/2020\/06\/09\/health\/fauci-vaccines-coronavirus.html?action=click&module=RelatedLinks&pgtype=Article\">New York Times<\/a> and <a href=\"https:\/\/www.ft.com\/content\/cc9aeb3f-402b-4479-aee3-08f963b4f20e\">Financial Times<\/a> report. The disease is still \u201ctaking off\u201d in emerging markets, FT columnist <a href=\"https:\/\/www.ft.com\/content\/31eb2686-a982-11ea-a766-7c300513fe47\">Martin Wolff adds<\/a>,<\/p>\n<p><strong>From the good news \/ bad news department: <\/strong>Shoppers in the US are surprising retailers by flocking to brick-and-mortar stores, the <a href=\"https:\/\/www.wsj.com\/articles\/shoppers-surprise-retailers-by-returning-to-stores-11591733058\">WSJ<\/a> writes. Fourteen US states reported a record rise in infection rates since the start of June as previously hard-hit areas such as New York and Illinois continue to reopen, <a href=\"https:\/\/www.washingtonpost.com\/health\/2020\/06\/08\/14-states-puerto-rico-hit-their-highest-seven-day-average-new-covid-19-infections-since-june\/?itid=lk_inline_manual_223\">the Washington Post reports<\/a>.<\/p>\n<p><strong>Expats are starting to leave Dubai<\/strong>, Bloomberg notes in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-10\/expats-are-leaving-dubai-and-that-s-bad-news-for-the-economy?srnd=premium-middle-east&sref=mmeFTDW1\">a gloomy piece<\/a> that suggests the emirate could lose 900k jobs and see as much as 10% of its population leave.<\/p>\n<p><strong>Gulf mall owners are putting expansion plans on hold<\/strong> as the retail sector continues to struggle under coronavirus lockdowns and a dearth of tourists, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-emirates-retail-idUSKBN23F0IG\">Reuters reports<\/a>. Openings in Dubai and Oman have reportedly been delayed. EFG Hermes has forecast in-store sales in Dubai to fall by a fifth if tourists are allowed into the country in 3Q \u2014 and 40% if travel restrictions remain until the end of the year \u2014 while MAF is expecting the retail slump to extend for another 18-24 months.<\/p>\n<p><strong>Satellite images and online searches suggest China had coronavirus last fall<\/strong>, according to a Harvard study that\u2019s making headlines in <a href=\"https:\/\/www.cnbc.com\/2020\/06\/09\/coronavirus-may-have-been-spreading-in-china-in-august-harvard-study.html\">the global press<\/a>. Satellite images show a \u201cdramatic\u201d increase in vehicle traffic outside Wuhan hospitals as early as last summer, with some parking lots being 90% more crowded than usual, according to <a href=\"https:\/\/dash.harvard.edu\/bitstream\/handle\/1\/42669767\/Satellite_Images_Baidu_COVID19_manuscript_DASH.pdf?sequence=3&isAllowed=y\">the study (pdf)<\/a>. Search engine Baidu saw a rise in searches about the terms \u201ccough\u201d and \u201cdiarrhea\u201d at the same time.<\/p>\n<p><strong>China angrily dismissed the study:<\/strong> \u201cTo derive these conclusions from phenomena such as road vehicle traffic is \u2026 extremely preposterous,\u201d <a href=\"https:\/\/www.ft.com\/content\/3e16a585-7993-4d9e-b62f-f345a22ea49c\">the Financial Times<\/a> reported a spokesperson for the foreign ministry as saying.<\/p>\n<p><strong>The cost of covid to airlines: USD 84 bn.<\/strong> Global airlines will see their revenue slashed in half to USD 419 bn and profits tumble by USD 84 bn this year in what will be the sector\u2019s worst year in recorded history, <a href=\"https:\/\/www.iata.org\/en\/pressroom\/pr\/2020-06-09-01\/\">the International Air Transport Association<\/a> said yesterday. The news came as Emirates said it\u2019s going to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-09\/emirates-kicks-off-thousands-of-job-cuts-to-navigate-virus-slump?srnd=premium-middle-east&sref=mmeFTDW1\">start cutting thousands of jobs<\/a>.<\/p>\n<p><strong>AND THE REST OF THE WORLD- <\/strong><\/p>\n<hr>\n<p><strong>SIGNS OF THE TIMES-<\/strong> Only 25% of Americans think that <a href=\"https:\/\/www.businessinsider.com\/capitalism-in-crisis-how-to-fix-capitalism-for-workers-2020-6\">capitalism is good for society<\/a> and Goldman Sachs thinks we could already be in the early days of a <a href=\"https:\/\/www.cnbc.com\/2020\/06\/09\/goldman-sachs-oil-price-correction-up-to-20percent-may-already-be-underway.html\">20% oil price correction<\/a>.<\/p>\n<p><strong>Palestinians are prepared to declare an independent state<\/strong> <strong>in response to Israeli plans to <\/strong><strong>annex the West Bank<\/strong>, Palestinian Authority Prime Minister Mohammed Shtayyeh warned yesterday according to <a href=\"https:\/\/www.reuters.com\/article\/us-israel-palestinians-shtayyeh\/palestinian-pm-israel-must-face-consequences-over-planned-west-bank-annexations-idUSKBN23G1ZH\">Reuters<\/a>. The move comes as Israeli Prime Minister Benjamin Netanyahu plans to declare sovereignty over illegal Jewish settlements in the West Bank.<\/p>\n<p><strong>EY is facing a perfect storm<\/strong> as four simultaneous scandals threaten its influence over UK policymakers at a time when proposals to break-up the Big Four accounting firms are gaining traction among legislators, <a href=\"https:\/\/www.ft.com\/content\/576e4c7f-93e5-4e8a-b5ba-5e1161533c5a\">the Financial Times reports<\/a>. In just the past few months, the firm was found to have <a href=\"https:\/\/www.bbc.co.uk\/news\/uk-50194681#:~:text=A%20major%20accountancy%20firm%20covered,money%2C%20an%20investigation%20has%20revealed.&text=BBC%20Panorama%20found%20the%20gang,the%20Kaloti%20refinery%20in%20Dubai.\">covered up organized crime connected with a Dubai gold company<\/a>, is facing questions over its role in the <a href=\"https:\/\/www.theguardian.com\/business\/2020\/may\/04\/watchdog-investigates-ey-audit-of-scandal-hit-nmc-health#:~:text=Britain's%2520accountancy%2520watchdog%2520has%2520opened,2018%2520accounts%2520in%2520mid%252DApril.\">accounting scandal at Dubai-headquartered NMC Health<\/a>, and the <a href=\"https:\/\/www.caixinglobal.com\/2020-04-04\/in-luckin-debacle-whos-to-blame-for-missing-massive-fraud-101538639.html\">implosion of NYSE-listed Chinese coffee chain Luckin Coffee<\/a>, and on Tuesday was <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-08\/ernst-young-sued-over-wirecard-audit-as-accounting-woes-add-up?sref=mmeFTDW1\">sued by investors<\/a> for alleged market manipulation by German fintech firm Wirecard.<\/p>\n<p><strong>The GCC is pushing hard on fintech: <\/strong>New York-based online Islamic investment platform<a href=\"https:\/\/wahedinvest.com\/\"><\/a><a href=\"https:\/\/wahedinvest.com\/\">Wahed Invest<\/a> will make Riyadh its regional hub as it looks to expand into MENA after securing funding from <a href=\"https:\/\/waed.net\/en\/home.html\">Saudi Aramco<\/a>, Dubai\u2019s <a href=\"https:\/\/becocapital.com\/\">BECO Capital<\/a> and Boston\u2019s <a href=\"https:\/\/cueball.com\/home-covid-2\/\">Cue Ball Capital<\/a>, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-08\/aramco-backs-new-york-fintech-firm-offering-islamic-investments?sref=mmeFTDW1\">Bloomberg<\/a>, which <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-08\/dubai-s-financial-hub-invests-in-four-fintech-startups?sref=mmeFTDW1\">also notes<\/a> that DIFC just invested in four fintech startups.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and even social infrastructure such as health and education.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> We explore Egypt\u2019s electric vehicles market and infrastructure before and after covid-19.<\/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\/devaluation\/\">devaluation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/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\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572070\" 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=\"572070\">\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\/06\/10\/electricity-ministry-spox-blankets-egypts-airwaves-to-talk-price-hikes\/\">\r\n                            Electricity Ministry spox blankets Egypt\u2019s airwaves to talk price hikes                        <\/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\/06\/10\/electricity-ministry-spox-blankets-egypts-airwaves-to-talk-price-hikes\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=Electricity+Ministry+spox+blankets+Egypt%E2%80%99s+airwaves+to+talk+price+hikes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F10%2Felectricity-ministry-spox-blankets-egypts-airwaves-to-talk-price-hikes%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\/06\/10\/electricity-ministry-spox-blankets-egypts-airwaves-to-talk-price-hikes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572070\" class=\"content-area-description single-story post-572070 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-electricity-ministry tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-gerd tag-subsidies tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Electricity Ministry spokesman Ayman Hamza blanketed the airwaves yesterday<\/strong> to explain the increase in electricity prices that come into effect as of 1 July. We have the full breakdown in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>The gradual lifting of subsidies allows the ministry to reroute these resources to improve infrastructure<\/strong>, including repairing and expanding the national grid, Hamza told Yahduth fi Misr\u2019s Sherif Amer. Hamza also noted that the majority of citizens fall under the two lowest consumption tiers, which are still largely subsidized (<a href=\"https:\/\/www.youtube.com\/watch?v=xxhvmInurQg\">watch, runtime: 3:33<\/a>). The spokesman also phoned in to Al Tase\u2019a Masa\u2019an (<a href=\"https:\/\/www.youtube.com\/watch?v=k5KzCpPhB40\">watch, runtime: 23:48<\/a>) and \u2018Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=IxkRo1rqmxw\">watch, runtime: 44:36<\/a>) for similar conversations.<\/p>\n<p><strong>Yesterday\u2019s tripartite GERD meeting also earned some attention<\/strong> from Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=EeF8SCcFQAw\">watch, runtime: 3:14<\/a>) and Masaa DMC\u2019s Ramy Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=_5M-UxWM8Es\">watch, runtime: 2:23<\/a>). The story is also in this morning\u2019s Speed Round.<\/p>\n<p><strong>Elsewhere, the World Health Organization\u2019s (frankly confusing) statements yesterday on the risk of asymptomatic transmission of coronavirus<\/strong> had Radwan scratching his head. Maria Van Kerkhove, WHO\u2019s Emerging and Zoonotic Diseases Unit director, said yesterday that asymptomatic transmission is \u201cvery rare,\u201d but later <a href=\"https:\/\/www.statnews.com\/2020\/06\/09\/who-comments-asymptomatic-spread-covid-19\/\">walked back<\/a> on the claim (<a href=\"https:\/\/www.youtube.com\/watch?v=9OtsEUWzIlg\">watch, runtime: 3:14<\/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\/electricity-ministry\/\">Electricity Ministry<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"572071\" 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=\"572071\">\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\/06\/10\/electricity-prices-to-rise-16-30-july-but-subsidies-are-with-us-until-2025\/\">\r\n                            Electricity prices to rise 16-30% July, but subsidies are with us until 2025                        <\/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\/06\/10\/electricity-prices-to-rise-16-30-july-but-subsidies-are-with-us-until-2025\/\" 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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Many businesses, however, won\u2019t be paying more as the tariff charged to retail and other commercial consumers will be left unchanged.<\/p>\n<p><strong>Factories will also be getting a EGP 0.10\/KWh reduction in their August bills.<\/strong> Factories have been struggling to keep up with rising costs, and have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54114fb3-1d43-4596-aae1-adce24450a47\">been calling<\/a> for price cuts. Meanwhile, farmers using electricity for irrigation will pay EGP 0.85\/KWh, up from EGP 0.75\/KWh in fiscal year 2019-2020.<\/p>\n<p><strong>Natural gas prices for electricity plants, meanwhile, remain unchanged.<\/strong> Prime Minister Moustafa Madbouly had <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=19032020&id=537d3722-ba28-4203-a739-39b76a2297ea\">decided in March<\/a> to set the price of natgas for electricity plants at USD 3.25 \/ MMBtu, but plants currently pay USD 3 \/ MMBtu and state coffers cover the remaining USD 0.25.<\/p>\n<p><strong>S<\/strong><strong>ubsidies are also with us until 2025<\/strong><strong>: <\/strong>A plan that would have seen subsidies entirely wiped out by July 2022 is being stretched out: Subsidies will now taper off through July 2025 to help consumers better cope with the impact of the covid-19 pandemic. When the government had first mapped out its planned elimination of electricity subsidies in 2014, the plan had been to lift subsidies entirely in 2019, but extended the timeline under orders from President Abdel Fattah El Sisi. Electricity prices increased by at least 15% <a href=\"https:\/\/enterprise.press\/2019\/05\/22\/electricity-prices-rise-15-average-fy2019-2020\/\">in July 2019<\/a>and by an average of 26% in <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/13\/electricity-prices-to-rise-an-average-of-26-as-early-as-next-month\/\">2018<\/a>.<\/p>\n<p><strong>Extending the phase-out will cost state coffers EGP 78.6 bn over the next five years<\/strong>, with households in lower consumption tiers benefiting to the tune of EGP 26.7 bn, manufacturers getting benefits of EGP 22 bn, and natural gas fired power plants receiving subsidies worth EGP 29.9 bn.<\/p>\n<p><strong>Top-down approach to lifting subsidies: <\/strong>Subsidies in July will only be entirely lifted for households consuming more than 650 KWh a month. Households consuming 1,000 or more KWh\/month, which are currently the only band not handed subsidies, will also be used starting July for cross subsidies that benefit those in lower consumption tiers.<\/p>\n<p><strong>Tap or click\u00a0<a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">here (pdf)<\/a> for a review of the administration\u2019s plan<\/strong> to postpone phasing out electricity subsidies, and figures for the coming fiscal years.<\/p>\n<p><strong>The new pricing structure for household customers:<\/strong><\/p>\n<p>Consumption tiers (with state subsidies):<\/p>\n<ul>\n<li>The first 0-50 KWh\/month used will be charged EGP 0.38\/KWh, <strong>up 26%.<\/strong> Those consuming within this band can expect to pay up to 20\/month;<\/li>\n<li>The next 51-100 KWh\/month used will be charged EGP 0.48\/KWh, <strong>up 20%.<\/strong> Those consuming within this band can expect to pay up to 45\/month;<\/li>\n<li>The next 101-200 KWh\/month used will be charged EGP 0.65\/KWh, <strong>up 30%.<\/strong> Those consuming within this band can expect to pay up to 136\/month;<\/li>\n<li>The next 201-350 KWh\/month used will be charged EGP 0.96\/KWh, <strong>up 17%. <\/strong>Those consuming within this band can expect to pay up to 285\/month;<\/li>\n<li>The next 351-650 KWh\/month used will be charged EGP 1.18\/KWh, <strong>up 18%. <\/strong>Those consuming within this band can expect to pay up to EGP 643\/month.<\/li>\n<\/ul>\n<p>Consumption tiers (with no subsidies):<\/p>\n<ul>\n<li>Those consuming 651-700 KWh per month could pay up to EGP 851\/month from a previous 618\/month. A flat rate of EGP 1.18\/KWh will be applied to this band.<\/li>\n<li>Those consuming 701-800 KWh per month could pay up to EGP 969\/month from a previous 758\/month. A flat rate of EGP 1.18\/KWh will be applied to this band.<\/li>\n<li>Those consuming 801-900 KWh per month could pay up to EGP 1087\/month from a previous 898\/month. A flat rate of EGP 1.18\/KWh will be applied to this band.<\/li>\n<li>Those consuming 901-1000 KWh per month could pay up to EGP 1205\/month from a previous 1038\/month. A flat rate of EGP 1.18\/KWh will be applied to this band.<\/li>\n<li>Those consuming more that 1,000 KWh per month will continue to pay up to 1491\/month, rate was unchanged EGP 1.45\/KWh, but subsidies lifted on monthly bills.<\/li>\n<\/ul>\n<p><strong>The new pricing structure for commercial buyers:<\/strong><\/p>\n<ul>\n<li>0-100 KWh per month: unchanged at EGP 0.65\/KWh;<\/li>\n<li>101-250 KWh per month: prices will go up by 7% to EGP 1.23\/KWh;<\/li>\n<li>251-600 KWh per month: unchanged at EGP 1.40\/KWh;<\/li>\n<li>601-1000 KWh per month: unchanged at EGP 1.55\/KWh;<\/li>\n<li>Average consumption higher than 1,000 KWh per month: unchanged at EGP 1.60\/KWh;<\/li>\n<\/ul>\n<p><strong>The average breakdown of industrial prices (measured in KV) <\/strong>\u2014 before the EGP 0.10\/KWh discount afforded specifically to manufacturing plants:<\/p>\n<ul>\n<li>132-220 KV lines: prices will remain unchanged at EGP 1.09\/KWh;<\/li>\n<li>33-66 KV lines: prices will remain unchanged at EGP 1.17\/KWh;<\/li>\n<li>11-22 KV lines: prices will remain unchanged at EGP 1.23\/KWh;<\/li>\n<li>380 V lines: prices will go up to EGP 0.93\/KWh from 0.83\/KWh<\/li>\n<\/ul>\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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-shaker\/\">Mohamed Shaker<\/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\/subsidies\/\">subsidies<\/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=\"572082\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572083\" 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=\"572083\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/\">\r\n                            Covid-19 shows investment risks and rewards in individual EM economies vary more than ever                        <\/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\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/\" 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\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/')\">\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\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/\">\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=Covid-19 shows investment risks and rewards in individual EM economies vary more than ever&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/\">\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\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/&title=Covid-19 shows investment risks and rewards in individual EM economies vary more than ever\">\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=Covid-19+shows+investment+risks+and+rewards+in+individual+EM+economies+vary+more+than+ever+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F10%2Fcovid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever%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\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/117.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572084\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/covid-19-shows-investment-risks-and-rewards-in-individual-em-economies-vary-more-than-ever\/117-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/117.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"117.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/117.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/117.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572083\" class=\"content-area-description single-story post-572083 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-brazil tag-china tag-emerging-markets tag-enterpriseam tag-fiscal-budget tag-india tag-investment-watch tag-regulation tag-south-africa tag-south-korea tag-taiwan tag-the-macro-picture 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-05\"><\/a> <strong>Covid-19 underlines the home truth that you can\u2019t just lump EMs together in a homogeneous<\/strong><strong> asset class<\/strong> \u2014 and the extent to which investment risks and rewards in individual EM economies vary. Recovery in different emerging market economies is being determined by (the vastly different) approaches taken to tackling the pandemic, putting individual countries on different economic trajectories that makes them less homogeneous, Robeco\u2019s global head of fundamental equities <a href=\"https:\/\/www.robeco.com\/en\/insights\/authors\/fabiana-fedeli.html\">Fabiana Fedeli<\/a> writes in <a href=\"https:\/\/www.ft.com\/content\/cd822211-4e13-4a90-9cb1-58c28ea173f7\">the Financial Times<\/a>. And with the variation in recovery paths come disparities in the impact of three core EM economic vulnerabilities, Fedeli says. For example, South Africa \u2014 whose gross external debt to FX reserves ratio is at 300% \u2014 is significantly more exposed to credit default risks than Taiwan, where the ratio is just over 40%.<\/p>\n<p><strong>For long-term rewards, investors should decouple EMs from each other and assess them as individual countries \u2014 not as a collective asset class.<\/strong> The potential impact on investment returns will be felt even by the North Asian countries that are closer to economic recovery, especially China. Governments currently pouring money into economic stimulus packages could up the regulation around returns in a bid to increase their inflows. Global supply chains are likely to face continued disruption, as localization increases and companies seek less reliance on a single overseas supplier. And consumption habits will remain low, impacting domestic demand for leisure and travel especially, until a covid-19 vaccine is widely available. This means it\u2019s essential that risks and possibilities for outsized returns are assessed on a country-by-country basis.<\/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\/brazil\/\">Brazil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fiscal-budget\/\">fiscal budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/india\/\">India<\/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\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-africa\/\">South Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taiwan\/\">Taiwan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572085\" 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=\"572085\">\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\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/\">\r\n                            Egypt nominates Abdel Hamid Mamdouh as candidate to lead WTO                        <\/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\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/\" 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\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/')\">\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\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/\">\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 nominates Abdel Hamid Mamdouh as candidate to lead WTO&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/\">\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\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/&title=Egypt nominates Abdel Hamid Mamdouh as candidate to lead WTO\">\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+nominates+Abdel+Hamid+Mamdouh+as+candidate+to+lead+WTO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F10%2Fegypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto%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\/06\/10\/egypt-nominates-abdel-hamid-mamdouh-as-candidate-to-lead-wto\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572085\" class=\"content-area-description single-story post-572085 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-enterpriseam tag-world-trade-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt has nominated Egyptian-Swiss lawyer Abdel <\/strong><strong>Hamid Mamdouh<\/strong><strong> as the next <\/strong><strong>director-general of the World Trade Organization (WTO)<\/strong>, according to <a href=\"https:\/\/bit.ly\/3dQXhDG\">Al Shorouk<\/a>. Mamdouh was formerly a trade negotiator for Egypt and ex-WTO official, and is currently advising the G20 presidency holder Saudi Arabia on trade and investment policy. Nominations for the position are now open after former WTO head Roberto Azevedo <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c77abca3-96eb-4f3f-a1c6-85d5e4eaa0e8\">resigned suddenly<\/a> last month a year before his contract ended.<\/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\/world-trade-organization\/\">World Trade Organization<\/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=\"572086\" 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=\"572086\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/egypt-in-the-news-on-10-june-2020\/\">\r\n                            Egypt in the News on 10 June 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\/06\/10\/egypt-in-the-news-on-10-june-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\/06\/10\/egypt-in-the-news-on-10-june-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\/06\/10\/egypt-in-the-news-on-10-june-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 10 June 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/egypt-in-the-news-on-10-june-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\/06\/10\/egypt-in-the-news-on-10-june-2020\/&title=Egypt in the News on 10 June 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+10+June+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F10%2Fegypt-in-the-news-on-10-june-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\/06\/10\/egypt-in-the-news-on-10-june-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572086\" class=\"content-area-description single-story post-572086 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-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It is a very quiet morning for Egypt in the international press<\/strong>, setting aside one entirely odd story in the Guardian headlined <a href=\"https:\/\/www.theguardian.com\/environment\/2020\/jun\/08\/it-was-hell-spanish-cocaine-raid-adds-to-shipboard-misery-for-4000-cows\">It was hell: Spanish cocaine raid adds to shipboard misery for 4,000 cows<\/a>.<\/p>\n<p><strong>Only five Egyptian firms made it into <\/strong><strong><a href=\"https:\/\/www.forbesmiddleeast.com\/list\/the-middle-easts-top-100-companies-2020\">Forbes\u2019 2020 top 100 Middle East companies<\/a><\/strong> in a list dominated by Emirati, Saudi and Qatari firms. CIB was the highest-ranking Egyptian company coming in at #28. Towards the bottom of the list were Eastern Company (#79), Talaat Moustafa Group (#85), Elsewedy Electric (#87) and Telecom Egypt (#91).<\/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\/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=\"572087\" 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=\"572087\">\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\">Worth reading<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/\">\r\n                            Will covid-19 change city life as we know it? Urban experts weigh in.                        <\/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\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/\" 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\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/')\">\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\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/\">\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 covid-19 change city life as we know it? Urban experts weigh in.&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/\">\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\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/&title=Will covid-19 change city life as we know it? Urban experts weigh in.\">\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+covid-19+change+city+life+as+we+know+it%3F+Urban+experts+weigh+in.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F10%2Fwill-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in%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\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/118.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572088\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/will-covid-19-change-city-life-as-we-know-it-urban-experts-weigh-in\/118-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/118.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"118.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/118.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/118.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572087\" class=\"content-area-description single-story post-572087 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-reading tag-covid-19 tag-enterpriseam tag-worth-reading 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-06\"><\/a> <strong>Will covid-19 change city life as we know it? In a word, yes<\/strong> \u2014 city life will change, but perhaps not as much as we expect, suggests a <a href=\"https:\/\/foreignpolicy.com\/2020\/05\/01\/future-of-cities-urban-life-after-coronavirus-pandemic\/\">Foreign Policy piece<\/a>. Continued social distancing and fears around hygiene may cause people to eschew dense environments, including city apartments and crowded public transport, in favor of suburban houses, says professor Richard Florida. <strong>Pandemic-driven fear of human interactions could endanger tens of mns of service jobs<\/strong>, predicts professor Edward Glaeser. And urban specialist Robert Muggah envisions short-term changes to urban planning, ranging from mass test and tracing to retrofitting public spaces for social distancing, along with an acceleration of long-term trends such as increased digitalization, a shift to remote working, and the growth of driverless cars.<\/p>\n<p><strong>Many also emphasize the resilience of cities:<\/strong> Urbanization has always been a greater force than infectious disease and cities often bounce back stronger after a widespread illness, Florida says. And while many of our favorite shops and restaurants may be forced to close, the human need to mingle in \u201cfearless proximity\u201d to one another will not, says planning professor Thomas J. Campanella. Investing heavily in healthcare infrastructure and improving disease preparedness and response will be crucial to prevent catastrophic labor market losses, even if cities do end up becoming less dense as more people relocate to the countryside, says professor Rebecca Katz. And businesses and entrepreneurs facing financial hardship will need an unprecedented level of support, opening up a space for potential regenerators to exist alongside business incubators and accelerators, says Bruce Katz, founder of an urban innovation social enterprise.<\/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\/worth-reading\/\">worth reading<\/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=\"572092\" 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=\"572092\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/10\/the-market-yesterday-106\/\">\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\/06\/10\/the-market-yesterday-106\/\" 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\/06\/10\/the-market-yesterday-106\/')\">\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\/06\/10\/the-market-yesterday-106\/\">\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\/06\/10\/the-market-yesterday-106\/\">\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\/06\/10\/the-market-yesterday-106\/&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%2F06%2F10%2Fthe-market-yesterday-106%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\/06\/10\/the-market-yesterday-106\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572092\" class=\"content-area-description single-story post-572092 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 16.13 | Sell 16.23<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 16.13 | Sell 16.23<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 16.12 | Sell 16.22<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 11,063 (-0.8%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.2 bn (59% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -20.8%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session down 0.8%. CIB, the index\u2019s heaviest constituent, ended down 0.9%. EGX30\u2019s top performing constituents were Eastern Company up 2.6%, Orascom Construction up 2.5%, and Ezz Steel up 1.8%. Yesterday\u2019s worst performing stocks were Egyptian Resorts down 5.3%, Dice down 4.7% and Cleopatra Hospital down 3.0%. The market turnover was EGP 1.2 bn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -51.5 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -15.1 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +66.6 mn<\/p>\n<p><strong>Retail<\/strong>: 66.6% of total trades | 68.2% of buyers | 64.9% of sellers<br \/>\n <strong>Institutions<\/strong>: 33.4% of total trades | 31.8% of buyers | 35.1% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 38.41 (-1.36%)<br \/>\n <strong>Brent:<\/strong> USD 41.18 (+0.93%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.76 MMBtu, (-0.23%, July 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,719.60 \/ troy ounce (-0.13%)<\/p>\n<p><strong>TASI:<\/strong> 7,239.38 (+0.40%) (YTD: -12.63%)<br \/>\n <strong>ADX:<\/strong> 4,332.28 (-0.84%) (YTD: -14.65%)<br \/>\n <strong>DFM:<\/strong> 2,124.63 (-1.82%) (YTD: -23.16%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,628.10 (+1.17%)<br \/>\n <strong>QE:<\/strong> 9,258.04 (-0.62%) (YTD: -11.20%)<br \/>\n <strong>MSM:<\/strong> 3,523.35 (-0.40%) (YTD: -11.50%)<br \/>\n <strong>BB: <\/strong>1,281.11 (+0.30%) (YTD: -20.44%)<\/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=\"572093\" 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\/06\/10\/572093\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572093\" class=\"content-area-description single-story post-572093 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>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>25 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 June (Tuesday): Anniversary of the June 2013 protests, national holiday.<\/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    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