{"id":572257,"date":"2020-06-17T04:10:49","date_gmt":"2020-06-17T04:10:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=572257"},"modified":"2025-12-16T08:28:29","modified_gmt":"2025-12-16T08:28:29","slug":"its-all-about-debt-as-egp-proves-flexible-cib-readies-green-bond-were-off-thursday-see-you-back-here-next-week","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/its-all-about-debt-as-egp-proves-flexible-cib-readies-green-bond-were-off-thursday-see-you-back-here-next-week\/","title":{"rendered":"It\u2019s all about debt as EGP proves flexible, CIB readies green bond. <\/br> (We\u2019re off Thursday \u2014 see you back here next week)"},"content":{"rendered":"<section id=\"572259\" 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=\"572259\">\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\/17\/what-were-tracking-on-17-june-2020\/\">\r\n                            What we\u2019re tracking on 17 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\/17\/what-were-tracking-on-17-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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Enterprise will be back in your inboxes at the appointed hour on Sunday \u2014 just in time for interest rate week as the central bank meets on Thursday, 25 June.<\/p>\n<p><strong>The big story at home this morning: Investor appetite for Egyptian debt looks to be<\/strong> <strong>returning <\/strong>as the EGP eases a bit against the greenback, returning to where it stood in December 2019. That puts the central bank in a familiar (and frankly welcome) quandary as it prepares to meet next Thursday, 25 June, to set interest rates: Does it cut rates to spur domestic borrowing (particularly from corporates), or leave them where they are and stay attractive to the carry trade? We have more in this morning's Speed Round, below, and will have our customary interest rate poll for you next week.<\/p>\n<p><strong>The big story abroad: Equity investors are cheering positive economic data, but Jay<\/strong> <strong>Powell and Gita Gopinath are readying buckets of ice water<\/strong>, suggesting we all need to calm the [redacted] down because this ride isn\u2019t over yet. Wall Street joined European and Asian shares in a rally yesterday (and Egyptian equities climbed 2.5%, thank you very much) amid data showing a <a href=\"https:\/\/www.wsj.com\/articles\/shoppers-returned-in-may-likely-spurring-increased-retail-sales-11592299802?mod=hp_lead_pos1\">strong spike in consumer spending<\/a> in May as businesses reopened. Also helping: <a href=\"https:\/\/www.ft.com\/content\/2ae45e29-ddf7-43fc-834d-aa4d3dbd4d35\">The expectation<\/a> that both the US Fed and the government will step in and provide more aid to the American economy (a rather debatable proposition given (a) the state of politics over there and (b) Republicans having telegraphed that they\u2019re not so inclined).<\/p>\n<p><strong>Fed boss Jay Powell, meanwhile, warned lawmakers yesterday that there is <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/42192008-5b5e-4474-bdff-e8d8ef08258e\">\u201csignificant<\/a><\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/42192008-5b5e-4474-bdff-e8d8ef08258e\"><\/a><\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/42192008-5b5e-4474-bdff-e8d8ef08258e\">uncertainty\u201d<\/a><\/strong> about the \u201ctiming and strength\u201d of a US economic recovery, underscoring that interest rates will probably stay around zero through the end of 2022.<\/p>\n<p><strong>And IMF chief economist Gita Gopinath says things are worse than we know right now. <\/strong>In a blog post yesterday to lay the groundwork for the IMF\u2019s June World Economic Outlook, Gopinath writes, \u201c<strong>For the first time since the Great Depression, both advanced and emerging market economies will be in recession in 2020.<\/strong> The forthcoming June World Economic Outlook Update is likely to show negative growth rates <strong>even worse than previously estimated<\/strong>. This crisis will have devastating consequences for the world\u2019s poor.\u201d The Great Lockdown, as she calls what we\u2019re going through right now, is \u201cunlike anything the world has seen before.\u201d<\/p>\n<p><strong><a href=\"https:\/\/blogs.imf.org\/2020\/06\/16\/the-great-lockdown-through-a-global-lens\/\">Her post is worth reading in full here.<\/a><\/strong><\/p>\n<p><strong>Perhaps more welcome: A \u201crigorous study\u201d has found that the inexpensive steroid<\/strong> <strong>dexamethasone is <\/strong><strong>the first covid breakthrough<\/strong><strong>.<\/strong> A trial found that \u201cit cut deaths by about one-third in patients who were on ventilators because of coronavirus infection.\u201d Patients on oxygen therapy saw their risk of dying cut by 20% when they went on the steroid.<\/p>\n<p><strong>Don\u2019t rush to the pharmacy to stock up on dexamethasone: It has absolutely no effect on<\/strong> <strong>people with mild cases of covid-19 <\/strong>\u2014 ie: folks not on oxygen or a ventilator, the study found.<\/p>\n<p><strong>FURTHER READING:<\/strong> The respected scientific journal Nature\u2019s <a href=\"https:\/\/www.nature.com\/articles\/d41586-020-01824-5\">a plain-English story<\/a> is a must-read. The researchers\u2019 <a href=\"http:\/\/www.ox.ac.uk\/news\/2020-06-16-low-cost-dexamethasone-reduces-death-one-third-hospitalised-patients-severe\">press release is here<\/a>. Nerds can dig deeper in the <a href=\"https:\/\/www.recoverytrial.net\/\">study\u2019s homepage<\/a>.<\/p>\n<p><strong>COVID-19 IN EGYPT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2Y8RRi2\">confirmed<\/a><\/strong><strong> 94 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 1,776. Egypt has now disclosed a total of 47,856 confirmed cases of covid-19, after the ministry reported <strong>1,567 new infections yesterday<\/strong>. We now have a total of 14,144 confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 12,730 have fully recovered.<\/p>\n<p><strong>Egypt to receive possible covid-19 treatment without charge:<\/strong> Japan has agreed to provide Egypt with Avigan \u2014 also known as favipiravir, a med with the potential to fight the virus that causes covid-19 \u2014 without charge, the Foreign Ministry said in a <a href=\"https:\/\/bit.ly\/2YEQoz3\">statement<\/a>. Avigan is one of a number of treatments clinicians hope could play a role in fighting covid-19, but manufacturer <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-fujifilm\/fujifilm-shares-fall-after-report-avigan-not-showing-clear-efficacy-in-some-coronavirus-trials-idUSKBN22W02T\">Fujifilm said<\/a> late last month that its efficacy was still unproven. <a href=\"https:\/\/asia.nikkei.com\/Business\/Pharmaceuticals\/Avigan-trials-will-continue-in-Japan-with-drug-efficacy-unclear\">Clinical trials are continuing<\/a>. Japan is cooperating with the UN to distribute Avigan without charge to countries in need.<\/p>\n<p><strong>An additional 100 Egyptian factories have started producing masks this month<\/strong>, according to Omar Hassan, head of the ready-made garment division at the Cairo Chamber of Commerce, reports <a href=\"https:\/\/bit.ly\/2UKbhaU\">the local press<\/a>. There are now 400 factories producing anywhere from 6-30k masks every day, he said.<\/p>\n<p><strong>Egypt will be offering face masks on ration cards starting 1 July<\/strong>, offering 40 mn reusable cloth masks at EGP 6 apiece, Assistant Supply Minister Ayman Hossam El Din said on Sada El Balad (<a href=\"https:\/\/www.youtube.com\/watch?v=dl2g9wisCsY\">watch, runtime: 9:21<\/a>).<\/p>\n<p><strong>E-commerce sales in Egypt have gone up 80% since the beginning of the <\/strong><strong>outbreak<\/strong>, says Jumia CEO Hisham Safwat, according to <a href=\"https:\/\/bit.ly\/2Ax4PgM\">Masrawy<\/a>. What are people buying the most? Groceries, home workout gear, video games, and personal protective equipment. Sounds about right.<\/p>\n<p><strong>EgyptAir won\u2019t be raising ticket prices wen it returns to the skies on the first of July<\/strong>, said CEO Roshdy Zakaria (<a href=\"https:\/\/www.youtube.com\/watch?v=cW-3olK6lb0\">watch, runtime: 4:33<\/a>). The national flag carrier would have resorted to higher pricing if it was required to implement \u201csocially distant seating,\u201d which the International Air Transport Association has said is not a necessary measure.<\/p>\n<p><strong>Professional footballers will be back on the field on 25 July for tournaments,<\/strong> with training at football clubs to resume on 20 June, Sports Minister <a href=\"https:\/\/www.emys.gov.eg\/details\/11408\">Ashraf Sobhy said<\/a>. This comes as part of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b280c57-30f8-4167-ade8-3e6bf34a7748\">the ministry\u2019s plan<\/a> to allow clubs to gradually resume activities and training as of 1 July, starting with non-contact sports.<\/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\/6\/SOMA-ENTERPRISE_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>ON THE GLOBAL FRONT-<\/strong><\/p>\n<p><strong>Quarantines, checkpoints and emergency testing were rolled out across Beijing <\/strong><strong>yesterday<\/strong> as Chinese authorities fight to contain what they described as an \u201cextremely severe\u201d coronavirus outbreak, <a href=\"https:\/\/www.theguardian.com\/world\/2020\/jun\/16\/beijing-coronavirus-outbreak-travel-restricted-china-severe-measures\">the Guardian reports<\/a>.<\/p>\n<p class='web-image' ><a href='https:\/\/www.ft.com\/content\/779b7776-cfef-4d53-9295-b4493559dc71'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/EM-bonds-Jan-June2020-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>GLOBAL MACRO-<\/strong><\/p>\n<p><strong>EM bond rally to gather steam as central banks buy up local deb<\/strong>t<strong>: <\/strong>Bond-buying programs launched by the Federal Reserve and local central banks in the wake of the covid-19 pandemic will pour more fuel on a rally that has seen emerging market bonds rise by almost 20% since the end of March, the <a href=\"https:\/\/www.ft.com\/content\/779b7776-cfef-4d53-9295-b4493559dc71\">Financial Times<\/a> reports. More than 12 central banks in emerging markets have resorted to using the Fed\u2019s playbook, buying local sovereign bonds to protect their economies from the damaging effects of the virus. These programmes could \u201csafeguard the functioning of domestic bond markets\u201d and support post-covid recoveries if used responsibly, said Alejo Czerwonko, a strategist at UBS Global Wealth Management.<\/p>\n<p><strong>Global economy to see worst oil demand slump in history this year -IEA:<\/strong> Oil demand will fall by a record-breaking 8.1 mn bbl\/d in 2020 despite lockdowns easing during the second half of the year, the <a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-june-2020\">International Energy Agency<\/a> said yesterday. The IEA is penciling in a recovery next year, but with a jump of 5.7 mn bbl\/d, demand will remain below 2019 levels.<\/p>\n<p><strong>EGYPT BEYOND COVID- <\/strong><\/p>\n<p><strong>The Social Solidarity Minister will issue \u201csoon\u201d the executive regulations to the<\/strong><strong> Social Security and Pensions Act<\/strong>, Minister Nivine Kabbag said at a presser yesterday, according to <a href=\"https:\/\/bit.ly\/2N6OAtc\">Masrawy<\/a>. The new law, which President Abdel Fattah El Sisi ratified <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/25\/el-sisi-ratifies-egypts-new-social-security-and-pensions-act\/\">last August<\/a>, will see 21% of public and private sector workers\u2019 salaries going towards a newly-established fund. The percentage taken out of employee salaries will increase 1% every seven years until it hits 26%.<\/p>\n<p><strong>AND THE REST OF THE WORLD- <\/strong><\/p>\n<p><strong>Just what the world needs now: 20 Indian troops have been killed in a clash with Chinese <\/strong><strong>forces<\/strong> in a disputed Himalayan border area, <a href=\"https:\/\/www.bbc.com\/news\/world-asia-53061476\">the BBC reports<\/a>.<\/p>\n<p><strong>The European Commission has launched two antitrust investigations into Apple\u2019s <\/strong><strong>App Store and Apple Pay<\/strong>, the <a href=\"https:\/\/www.ft.com\/content\/9c847838-ca25-43cf-a962-0d3588d8d34d\">Financial Times<\/a> reports. Both Spotify and Japanese ereader company Kobo have complained about commission charged by Apple on app subscriptions, while regulators are looking into whether Apple Pay has breached competition rules by limiting access to contactless payment in their stores.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/Making-It-Album-Cover-1600px.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>With the season finale of Making It just around the corner, <\/strong>it\u2019s the perfect time to get caught up on season two. Our guests are founders and C-suite execs across industries with one story to tell: How to build a great business in Egypt.<\/p>\n<ul>\n<li><strong>What makes a startup attractive to VCs<\/strong> with <a href=\"https:\/\/bit.ly\/2UPBkNT\">Algebra Ventures Managing Partners Karim Hussein and Tarek Assaad<\/a><\/li>\n<li><strong>Managing in a crisis <\/strong>with <a href=\"https:\/\/bit.ly\/30LLwe8\">CIRA CEO Mohamed El Kalla<\/a><\/li>\n<li><strong>Take a calculated risk <\/strong>with <a href=\"https:\/\/bit.ly\/2N2p9Jp\">Tanmeyah CEO Amr Abouesh<\/a> <\/li>\n<li><strong>Reposition your brand<\/strong> with <a href=\"https:\/\/bit.ly\/2Cd44tD\">Nola Founder Laila Sedky and Nola CEO Adel Sedky<\/a><\/li>\n<li><strong>An upskilled workforce for an automated future <\/strong>with <a href=\"https:\/\/bit.ly\/2YFS77d\">SAP Managing Director Hoda Mansour<\/a><\/li>\n<li><strong>Anticipating business opportunities <\/strong>with <a href=\"https:\/\/bit.ly\/2zAMYEY\">TPay CEO Sahar Salama<\/a><\/li>\n<\/ul>\n<p><strong>Catch all of seasons one and two on <\/strong><a href=\"https:\/\/bit.ly\/30LMjM5\">our website<\/a> | <a href=\"https:\/\/podcasts.apple.com\/podcast\/making-it\/id1487974619\">Apple Podcast<\/a> | <a href=\"https:\/\/podcasts.google.com\/?feed=aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2L2U3ZjE1ZWYwLWMwOWYtNDFiNi1iZDM4LWFiMDUwMGMwNDVlZi82OTc0ODFkMi04OGRmLTRlYjMtYmY3Mi1hYjA1MDBjMjllOWYvcG9kY2FzdC5yc3M%3D\">Google Podcast<\/a> | <a href=\"https:\/\/omny.fm\/shows\/making-it\">Omny<\/a>. We\u2019re also available on <a href=\"https:\/\/open.spotify.com\/show\/5kp07MwlL0pk8W8i7thpgB\">Spotify<\/a>, but only for non-MENA accounts. Subscribe to Making It on your podcatcher of choice <a href=\"https:\/\/bit.ly\/35lugvb\">here<\/a>.<\/p>\n<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 take a look at the Arab Petroleum Investments Corporation\u2019s (Apicorp) outlook for the MENA region\u2019s energy landscape, which the multilateral development bank expects will see a USD 173 bn reduction in net investment over the next five years because 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\/algebra-ventures\/\">Algebra Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bank-of-japan\/\">bank of japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-holding-company-for-airports-and-air-navigation\/\">Egyptian Holding Company for Airports and Air Navigation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jumia\/\">Jumia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/making-it\/\">Making It<\/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\/podcast\/\">podcast<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sap\/\">SAP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tanmeyah\/\">Tanmeyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tpay\/\">TPay<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572260\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button 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stk-block-column__content stk-container stk-0joyqlb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-0joyqlb-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\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" 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-3l18r93\" data-v=\"4\" data-block-id=\"3l18r93\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-3l18r93-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-3l18r93-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\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                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   <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\/17\/egypts-talk-shows-ukraine-tourists-arriving-next-month-pension-bumps-and-herd-immunity-against-covid-19\/\">\r\n                            Egypt\u2019s talk shows: Ukraine tourists arriving next month, pension bumps, and herd immunity against covid-19                        <\/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 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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+talk+shows%3A+Ukraine+tourists+arriving+next+month%2C+pension+bumps%2C+and+herd+immunity+against+covid-19+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F17%2Fegypts-talk-shows-ukraine-tourists-arriving-next-month-pension-bumps-and-herd-immunity-against-covid-19%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\/17\/egypts-talk-shows-ukraine-tourists-arriving-next-month-pension-bumps-and-herd-immunity-against-covid-19\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572261\" class=\"content-area-description single-story post-572261 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-red-sea tag-social-welfare tag-tourism tag-ukraine tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a relatively quiet night on the airwaves<\/strong>, with no single story leading the conversation.<\/p>\n<p><strong>A charter flight from Ukraine is set to land in the Red Sea governorate on 2 July<\/strong>, governor Amr Hanafy told Mehwar TV\u2019s 90 Minutes. Hanafy also confirmed that a flight carrying Belgian tourists will arrive in the governorate later this month (<a href=\"https:\/\/www.youtube.com\/watch?v=MtuLyIuAHsc\">watch, runtime: 5:40<\/a>).<\/p>\n<p><strong>The government will begin next month disbursing the five overdue pension bumps<\/strong> to recipients whose pensions fell short of reflecting their salaries between 2006 and 2010, with each portion of the pension increase set to be disbursed every three months until April 2021, Social Solidarity Minister Nivine Kabbag told Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=i8-Ft6GtVTU\">watch, runtime: 4:38<\/a>) and Masaa DMC\u2019s Ramy Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=H5ycXp9d4-c\">watch, runtime: 4:11<\/a>).<\/p>\n<p><strong>WHO regional advisor rebukes the notion of herd immunity against covid:<\/strong> The threshold for achieving herd immunity against covid-19 is not within reach right now and would be very costly to reach because it requires at least 60% of the population to contract the virus that causes the disease, World Health Organization regional advisor Amgad El Khouly told Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=1ouX8-vY5Do\">watch, runtime: 3:33<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/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=\"572262\" 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=\"572262\">\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\/17\/portfolio-investors-warming-to-egypt-as-egp-proves-more-flexible\/\">\r\n                            Portfolio investors warming to Egypt as EGP proves more flexible                        <\/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       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            \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\/17\/portfolio-investors-warming-to-egypt-as-egp-proves-more-flexible\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572263\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/portfolio-investors-warming-to-egypt-as-egp-proves-more-flexible\/189-jpg-17\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572262\" class=\"content-area-description single-story post-572262 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-bonds tag-covid-19 tag-emerging-markets tag-enterpriseam tag-inflation tag-interest-rates tag-investment-watch tag-pandemic tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Portfolio investors warming to Egypt as EGP proves more flexible:<\/strong> There are signs that foreign investors may be warming to Egypt after the EGP eased a bit against the USD, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-15\/after-bond-selloff-egypt-could-turn-currency-slide-to-advantage?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports, writing that \u201ca stable currency and elevated interest rates have kept Egypt\u2019s bond market humming for months\u201d and suggesting that a more flexible EGP could \u201ckeep investors coming back for more.\u201d Over the past month, the currency has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4181f86-03b2-4362-b0a5-ae3f5e20cb2d\">returned<\/a> to where it was seven months ago, easing a little over 2.8% since 17 May after holding steady at around EGP 15.68 \/ USD through the worst of the covid-inspired market chaos in March.<\/p>\n<p><strong>Signs of recovery:<\/strong> The subscription rate at recent Treasury auctions has seen a \u201csizeable jump,\u201d indicating renewed investor appetite for local-currency debt, according to Naeem Holdings. Foreign holdings of local-currency bonds had plunged by around 60% to USD 9-10 bn by the end of May as investors pulled an unprecedented amount of capital from emerging markets during the covid-inspired market tumult.<\/p>\n<p><strong>Foreign investors had been looking at \u201csubstitutes\u201d to Egypt<\/strong>, which has long held on to its emerging markets darling status, the business information service writes, as the EGP maintained its strength through the covid-19 crisis. Egypt\u2019s local-currency bonds rank among this month\u2019s weakest performers, bettering only Argentina, Colombia and Chile. \u201cMarkets that investors view as substitutes to Egypt have more flexible currencies,\u201d Bloomberg quotes Richard Segal, a senior analyst at Manulife Investment Management, as saying.<\/p>\n<p><strong>Where is the EGP heading?<\/strong> Analysts see the currency at anywhere between EGP 16.50 and 17.50 to the greenback by the end of the year, <a href=\"https:\/\/enterprise.press\/2020\/06\/04\/enterprise-covid-19-reader-poll-results\/\">as do 25% of readers who responded to our covid-19 poll<\/a>. <strong>EFG Hermes<\/strong> is calling EGP 16.50\u201317.00 by year-end after \u201ca clear signal from the central bank that its support to the EGP amidst the unprecedented capital outflows in the past two months is being withdrawn.\u201d <strong>Emirates NBD<\/strong> is guiding for 17.00 and <strong>HSBC<\/strong> is suggesting we\u2019re looking at 17.50 by year\u2019s end. <strong>JP Morgan<\/strong>, meanwhile, says that \u201cexternal support should prevent disorderly FX movement, but it would not be surprising to see the EGP give up the gains made in 2019.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572274\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572275\" 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=\"572275\">\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\/17\/shrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs\/\">\r\n                            Shrugging off debt relief initiatives, developing countries continue tapping global debt markets to plug covid-19 financing needs                        <\/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\/17\/shrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n    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   <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Shrugging off debt relief initiatives, developing countries continue tapping global debt markets to plug covid-19 financing needs&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/shrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs\/\">\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\/17\/shrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs\/&title=Shrugging off debt relief initiatives, developing countries continue tapping global debt markets to plug covid-19 financing needs\">\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=Shrugging+off+debt+relief+initiatives%2C+developing+countries+continue+tapping+global+debt+markets+to+plug+covid-19+financing+needs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F17%2Fshrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs%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\/17\/shrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/191.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572276\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/shrugging-off-debt-relief-initiatives-developing-countries-continue-tapping-global-debt-markets-to-plug-covid-19-financing-needs\/191-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/191.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"191.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/191.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/191.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572275\" class=\"content-area-description single-story post-572275 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-debt tag-emerging-markets tag-enterpriseam tag-eurobonds tag-g20 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-07\"><\/a> <strong>Shrugging off debt relief initiatives, developing countries continue tapping global <\/strong><strong>debt markets to plug covid-19 financing needs:<\/strong> Developing countries are piling on more debt to finance the deficits they face as a result of the covid-19 pandemic, rather than opting for potential restructuring of their existing debts, according to the <a href=\"https:\/\/www.ft.com\/content\/54c545aa-01b5-4e95-8adc-e680f5d82be1\">Financial Times<\/a>. Emerging markets\u2019 renewed appetite for sovereign debt issuances comes despite the G20 and the Paris Club, among others, looking at introducing a debt moratorium for poor countries. However, with markets normalizing and investors\u2019 risk appetite rising, EMs are resuming business as usual with their sovereign debt issuances. Since the beginning of April, emerging markets have raised some USD 83 bn from the international bond market \u2014 a stark departure from March, when investors dumped the same amount in debt and equity, according to the International Institute of Finance.<\/p>\n<p><strong>Egypt is among the EMs that has recently returned to global financial markets:<\/strong> Last month, Egypt sold USD 5 bn in eurobonds in its largest-ever international issuance, which was 4.4x oversubscribed, the Finance Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925263b4-1bc7-4df7-bcdc-3335f83063f0\">said at the time<\/a>. The record issuance saw solid appetite among investors, attracting bids around 4.4x the amount on offer, despite Egypt being classified as \u201cnon-investment-grade,\u201d according to the salmon-colored paper. Other similar countries that have raised bonds recently include Guatemala, Paraguay, Serbia, Albania, and Brazil.<\/p>\n<p><strong>That\u2019s not to say debt is always bad:<\/strong> \u201cPeople have railed too much against debt and the result has been stagnation \u2026 The legacy of not taking on debt is excess savings, which has been terrible for the world,\u201d says Oxford Economics head of macro research Gabriel Sterne. Debt service costs are currently lower than during previous debt crises, creating a \u201creasonable\u201d environment for a ramp-up in borrowing among developing countries that have a strong enough foundation to raise their debt-to-GDP ratios, Sterne says.<\/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\/debt\/\">debt<\/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\/g20\/\">G20<\/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=\"572277\" 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=\"572277\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/egypt-in-the-news-on-17-june\/\">\r\n                            Egypt in the News on 17 June                        <\/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\/17\/egypt-in-the-news-on-17-june\/\" 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\/17\/egypt-in-the-news-on-17-june\/')\">\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\/17\/egypt-in-the-news-on-17-june\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 17 June&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/egypt-in-the-news-on-17-june\/\">\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\/17\/egypt-in-the-news-on-17-june\/&title=Egypt in the News on 17 June\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+17+June+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F17%2Fegypt-in-the-news-on-17-june%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\/17\/egypt-in-the-news-on-17-june\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572277\" class=\"content-area-description single-story post-572277 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-al-jazeera tag-covid-19 tag-egypt-in-the-news tag-enterpriseam tag-giulio-regeni tag-human-rights-watch tag-italy tag-journalism tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a relatively quiet news day for Egypt in the international press.<\/strong> The nation\u2019s reopening to tourists is getting digital ink in the UK\u2019s <a href=\"https:\/\/www.express.co.uk\/travel\/articles\/1296421\/egypt-holidays-summer-2020-border-reopen-july-1-fco-sharm-el-sheikh-travel-latest\">Express<\/a>, while <a href=\"https:\/\/apnews.com\/b159d4726baaf3236397c7644e245184\">the AP<\/a> has picked up news that a second journalist has been detained after appearing on Qatari mouthpiece Al Jazeera and the <a href=\"https:\/\/www.washingtonpost.com\/world\/2020\/06\/16\/sarah-hegazi-egypt-pride-flag-suicide\/\">Washington Post<\/a> took note of the death of exiled LGBT activist Sarah Hegazi. Over in the UAE, the <a href=\"https:\/\/www.thenational.ae\/sport\/other-sport\/lama-elshawarby-and-the-egyptian-women-s-handball-team-unseen-champions-demanding-to-be-heard-1.1034381\">National<\/a> is covering a campaign by women handball players seeking equal treatment with their male peers.<\/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\/al-jazeera\/\">Al Jazeera<\/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\/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\/giulio-regeni\/\">Giulio Regeni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights-watch\/\">Human Rights Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/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\/tourism\/\">tourism<\/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=\"572278\" 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=\"572278\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/\">\r\n                            Egypt to enforce ban on legume exports for three additional months                        <\/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\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/\" 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\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/')\">\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\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt to enforce ban on legume exports for three additional months&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/\">\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\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/&title=Egypt to enforce ban on legume exports for three additional months\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+to+enforce+ban+on+legume+exports+for+three+additional+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F17%2Fegypt-to-enforce-ban-on-legume-exports-for-three-additional-months%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\/17\/egypt-to-enforce-ban-on-legume-exports-for-three-additional-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572278\" class=\"content-area-description single-story post-572278 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-commodities tag-covid-19 tag-diplomacy-foreign-trade tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Trade Ministry has renewed for three months a suspension on all exports of beans <\/strong><strong>and legumes<\/strong> to ensure sufficient supply for local consumption, <a href=\"https:\/\/bit.ly\/2MZxYDI\">according to a statement<\/a>. The decision was taken <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5b3f555-ee06-4c67-8d0e-a60aaaa8724e\">last March<\/a> due to the covid-19 economic fallout.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572282\" 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=\"572282\">\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\/06\/17\/the-market-yesterday-111\/\">\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\/17\/the-market-yesterday-111\/\" 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\/17\/the-market-yesterday-111\/')\">\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\/17\/the-market-yesterday-111\/\">\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\/17\/the-market-yesterday-111\/\">\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\/17\/the-market-yesterday-111\/&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%2F17%2Fthe-market-yesterday-111%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\/17\/the-market-yesterday-111\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572282\" class=\"content-area-description single-story post-572282 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 16.11 | Sell 16.21<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 10,935 (+2.5%)<br \/>\n <strong>Turnover:<\/strong> EGP 996 mn (30% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -21.7%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session up 2.5%. CIB, the index\u2019s heaviest constituent, ended up 3.4%. EGX30\u2019s top performing constituents were GB Auto up 6.7%, EFG Hermes up 4.1%, and Heliopolis Housing up 4.0%. Yesterday\u2019s worst performing stocks were CIRA down 0.3%, Ibnsina Pharma down 0.2% and SODIC down 0.2%. The market turnover was EGP 996 mn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -75.2 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +29.1 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +46.1 mn<\/p>\n<p><strong>Retail<\/strong>: 71.3% of total trades | 73.8% of buyers | 68.9% of sellers<br \/>\n <strong>Institutions<\/strong>: 28.7% of total trades | 26.2% of buyers | 31.1% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 37.63 (-1.95%)<br \/>\n <strong>Brent:<\/strong> USD 40.34 (-1.51%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.62 MMBtu (+0.56%, July 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,732.40 \/ troy ounce (-0.24%)<\/p>\n<p><strong>TASI:<\/strong> 7,308.21 (+0.61%) (YTD: -12.89%)<br \/>\n <strong>ADX:<\/strong> 4,328.61 (+1.43%) (YTD: -14.72%)<br \/>\n <strong>DFM:<\/strong> 2,070.02 (+0.89%) (YTD: -25.13%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,494.14 (+1.57%)<br \/>\n <strong>QE:<\/strong> 9,160.50 (+0.29%) (YTD: -12.13%)<br \/>\n <strong>MSM:<\/strong> 3,527.84 (+0.20%) (YTD: -11.39%)<br \/>\n <strong>BB: <\/strong>1,279.24 (+0.32%) (YTD: -20.55%)<\/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=\"572283\" 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\/17\/572283\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572283\" class=\"content-area-description single-story post-572283 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>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>1 July (Wednesday): Official reopening of Egypt\u2019s airspace to inbound and outbound international flights.<\/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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(We\u2019re off Thursday \u2014 see you back here next week) - 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\/its-all-about-debt-as-egp-proves-flexible-cib-readies-green-bond-were-off-thursday-see-you-back-here-next-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s all about debt as EGP proves flexible, CIB readies green bond.  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