{"id":572452,"date":"2020-06-25T04:08:12","date_gmt":"2020-06-25T04:08:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=572452"},"modified":"2025-12-16T08:34:57","modified_gmt":"2025-12-16T08:34:57","slug":"the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/","title":{"rendered":"The IMF thinks the global recession will be worse than it originally predicted"},"content":{"rendered":"<section id=\"572454\" 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=\"572454\">\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\/25\/what-were-tracking-on-25-june-2020\/\">\r\n                            What we\u2019re tracking on 25 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\/25\/what-were-tracking-on-25-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\/25\/what-were-tracking-on-25-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\/25\/what-were-tracking-on-25-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=What we\u2019re tracking on 25 June 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/what-were-tracking-on-25-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\/25\/what-were-tracking-on-25-june-2020\/&title=What we\u2019re tracking on 25 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=What+we%E2%80%99re+tracking+on+25+June+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fwhat-were-tracking-on-25-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\/25\/what-were-tracking-on-25-june-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572454\" class=\"content-area-description single-story post-572454 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-china tag-climate-change tag-covid-19 tag-egyptair tag-enterpriseam tag-israel tag-judiciary tag-palestine tag-pandemic tag-sports tag-travel tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Welcome to Thursday, ladies and gentlemen. <\/strong>We hope the day passes productively and uneventfully \u2014 and that you\u2019re all looking forward to a very relaxing weekend.<\/p><p><strong>Two big stories eclipse all other headlines today:<\/strong> The IMF thinks <strong>the global recession will <\/strong><strong>be worse<\/strong> than it first predicted and <strong>EFG Hermes<\/strong> has partnered with the the <strong>Sovereign Fund<\/strong> of Egypt to make <strong>a bid for the Arab Investment Bank<\/strong> and fully transform itself into a universal bank. We have chapter and verse on both stories in this morning\u2019s Speed Round, below.<\/p><p><strong>It\u2019s interest rate day today.<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09a2283f-8242-4243-8760-1733ae605c24\">Our poll earlier this week<\/a> showed consensus among analysts that the central bank will leave rates on hold for the third consecutive meeting. The CBE\u2019s overnight deposit rate is at 9.25% and the lending rate is at 10.25%. The main operation and discount rates are both at 9.75%.<\/p><p><strong>The IMF\u2019s executive board will meet tomorrow to discuss Egypt\u2019s request for a USD 5.2<\/strong> <strong>bn standby facility<\/strong>, according to the fund\u2019s calendar. Approval would bump up Egypt\u2019s recent IMF borrowing to USD 8 bn after the fund last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11bab53b-215b-4264-9f9f-0134b47a0e99\">disbursed a USD 2.8 bn rapid financing instrument<\/a>.<\/p><p><strong>The story to watch today: <\/strong>Asian shares are down sharply in early morning trading and futures suggest more of the same in Europe and the US later today after US stocks plunged yesterday amid fears that covid-19 was taking off in America. The trigger: Large states including Arizona, Texas, and California posting record numbers of new cases. The <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-6-24-2020-11592989380?mod=hp_lead_pos2\">WSJ<\/a> and <a href=\"https:\/\/www.ft.com\/content\/0fcad262-4aea-4dbd-bf1d-464ec1c16a28\">the FT<\/a> have more if you need to dive deeper. <strong>Is it any wonder that gold is hovering near an eight-year high? <\/strong>Not that we\u2019re goldbugs\u2026<\/p><p><strong>The EGX30 closed up 2.6% yesterday on very heavy trading<\/strong> (about 74% above the trailing 90-day average), leaving the benchmark index down 21% year-to-date.<\/p><p><strong>The antidote to the rollercoaster of negativity that is the market of late: Planet Startup<\/strong>, where we have a shoutout this morning to the brave folks who breezed through Flat6Labs\u2019 demo day for investors like MSMEDA and the press yesterday. It takes guts to build a company \u2014 even more to pitch it online during a pandemic. Our friends at Flat6 have put the whole thing online, so <strong>you can watch here if you didn\u2019t catch it yesterday (<\/strong><strong><a href=\"https:\/\/demoday.flat6labscairo.com\/\">watch, runtime: 52:54<\/a><\/strong><strong>) <\/strong>or check out the <a href=\"https:\/\/demoday.flat6labscairo.com\/\">homepage for demo day here<\/a>.<\/p><p><strong>And speaking of entrepreneurs: <\/strong>Instagram is rolling out new requirements for small businesses and creators and will require them to \u201ctag products on Instagram from a single website that they own and sell from.\u201d The requirement goes into effect on 9 July for folks in Egypt. More in <a href=\"https:\/\/ent.news\/2020\/6\/Content-creators-are-now-eligible-for-Instagram-Shopping.pdf\">this press release (pdf)<\/a>.<\/p><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>PSA #1- The nighttime curfew ends on Saturday.<\/strong> Restaurants, coffee shops and houses of worship are set to reopen and retailers will be allowed to stay open until 9pm. Restaurants will have to close their doors at 10pm.<\/p><p><strong>PSA #2- We are blessed with a midweek holiday <\/strong>next week as the nation is off on Tuesday in observance of 30 June.<\/p><hr class=\"grey-line\"><p><strong>COVID-19 IN EGYPT-<\/strong><\/p><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3ezBTn4\">confirmed<\/a><\/strong><strong> 85 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 2,450. Egypt has now disclosed a total of 59,561 confirmed cases of covid-19, after the ministry reported <strong>1,420 new infections yesterday<\/strong>. We now have a total of confirmed cases that have since tested negative for the virus after being hospitalized or isolated, of whom 15,935 have fully recovered.<\/p><p><strong>Six professional footballers tested positive for covid-19<\/strong> just days after returning to the pitch <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6e5a50-7888-42fd-85af-d46ceb2db0af\">for training<\/a> ahead of matches restarting on 1 July, the Egyptian Football Association (EFA) said in a <a href=\"https:\/\/bit.ly\/37Y11Be\">statement<\/a> yesterday. All EFA personnel are currently being tested, the association said.<\/p><p><strong>All courts across the nation will fully resume work starting Saturday<\/strong>, the Justice Ministry said yesterday, according to <a href=\"https:\/\/www.youm7.com\/story\/2020\/6\/24\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B9%D8%AF%D9%84-%D9%8A%D9%82%D8%B1%D8%B1-%D8%B9%D9%88%D8%AF%D8%A9-%D8%A7%D9%84%D8%B9%D9%85%D9%84-%D8%A8%D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%83%D9%85-%D9%88%D8%A7%D9%84%D8%B4%D9%87%D8%B1-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%89-%D8%A8%D9%83%D8%A7%D9%85%D9%84-%D8%B7%D8%A7%D9%82%D8%AA%D9%87%D8%A7\/4841985\">Youm7<\/a>. The ministry has also decided to reopen its offices, including real estate registry offices and the ministry-affiliated forensic medicine department. A maximum of 20% of employees will be present at any given time, and will implement rotational shifts to avoid community spread. The decision comes after the government announced a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bb3ec4e-133c-4cf4-a351-b54b300e282f\">partial reopening<\/a> of the economy starting this weekend.<\/p><p><strong>EgyptAir will resume flying to 29 destinations by mid-July<\/strong>, with 22 destinations available for booking on 1 July and seven more being phased in by 15 July, according to <a href=\"https:\/\/bit.ly\/37XBYyp\">a statement<\/a>. <strong>Did you book before 15 June? <\/strong>You need to reconfirm your flights.<\/p><p class=\"web-image stand-out-borderless\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/SOMA-ENTERPRISE-3-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>DONATIONS- The nation\u2019s banks, international organizations, and NGOs are the top<\/strong> <strong>financial donors <\/strong>to efforts to fight the economic and health impact of covid-19 according to <a href=\"https:\/\/ent.news\/2020\/6\/Cash-and-In-Kind-Contributions-during-Covid-19-Crisis-in-Egypt.pdf\">this deck (pdf)<\/a> put together by Meacoms. The top financial donor was the European Union with contributions totaling EGP 1.6 bn, while the top corporate donors were our friends at <strong>CIB<\/strong> followed by <strong>Banque du Caire<\/strong>. The food and beverage industry gets credit for in-kind donations of food, with the parent company of <strong>Pepsi and Chipy<\/strong> leading the league table with 2 mn meals, the analysis says. <strong>The top beneficiaries of financial donations were the government, the Tahya Misr Fund and the Egyptian Food Bank.<\/strong><\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Chinese vaccine developer moves into final stage of testing in UAE: <\/strong>Chinese state-owned vaccine developer CNBG has secured approvals to begin the final stage of human trials in UAE, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-24\/chinese-covid-19-vaccines-cleared-for-final-testing-in-u-a-e?sref=mmeFTDW1\">Bloomberg<\/a>. CNBG is the first company out of China to enter phase three testing and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f78d2566-6db4-4a52-b201-5cce500d0841\">one of the few to have hit that benchmark globally<\/a> as the race to be the first to discover a vaccine quickens and covid-19 cases top 9.2 mn.<\/p><p><strong>UK restaurants, hotels and pubs will reopen from 4 July<\/strong> as part of sweeping changes to end the country\u2019s lockdown restrictions announced yesterday, the <a href=\"https:\/\/www.bbc.co.uk\/news\/uk-53161280\">BBC<\/a> reports.<\/p><p><strong>AND THE REST OF THE WORLD- <\/strong><\/p><p><strong>Uncle Joe is crushing King Cheeto <\/strong>in the latest <a href=\"https:\/\/www.nytimes.com\/2020\/06\/24\/us\/politics\/trump-biden-poll-nyt-upshot-siena-college.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">New York Times-Siena College poll<\/a>. With five months remaining until American voters goes to the polls, Joe Biden has taken a commanding 14-point lead over the orange incumbent.<\/p><p><strong>US considers ramping up trade tensions with Europe\u2026 <\/strong>The Donald may be staring down the barrel of an embarrassing electoral defeat, but he isn\u2019t done flexing his muscles on trade. The US Trade Representatives yesterday said that Washington could bring in USD 3.1 bn in tariffs of up to 100% on additional goods imported from the UK, France, Germany and Spain, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-06-24\/u-s-targets-3-1-billion-of-eu-u-k-imports-for-new-tariffs?srnd=premium\">Bloomberg<\/a> reports.<\/p><p><strong>\u2026as Europe mulls US travel ban:<\/strong> American citizens may be banned from traveling to European countries as the coronavirus continues to rampage across the US, according to draft EU rules seen by the <a href=\"https:\/\/www.nytimes.com\/2020\/06\/23\/world\/europe\/coronavirus-EU-American-travel-ban.html\">New York Times<\/a>.<\/p><p class=\"web-image\"><a href=\"https:\/\/bit.ly\/2YXE0u0\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/Omar-Hagrass-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Out today: The final episode of season two of Making It, <\/strong>our podcast on building a great business in Egypt.<\/p><p><strong>Today\u2019s interview: Omar Hagrass, CEO of Trella: <\/strong>After working as an expansion manager at Uber Eats, Hagrass was bitten by the entrepreneurial bug after learning how fragmented the trucking industry was. His research led him and his co-founders to launch <a href=\"http:\/\/www.trella.app\/\">Trella<\/a>, an application that connects shippers and carriers directly through a booking system resembling ride-hailing services \u2014 eliminating the need for middlemen.<\/p><p><strong>A digital trucking marketplace was born<\/strong> after he secured <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/24\/trella-raises-usd-600k-in-pre-seed-funding-round-led-by-algebra\/\">a USD 600k pre-seed round led by<\/a><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/24\/trella-raises-usd-600k-in-pre-seed-funding-round-led-by-algebra\/\">Algebra Ventures<\/a> in early 2019. Trella then graduated from Y Combinator, <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/05\/egyptian-trucking-app-trella-acquires-rival-company-trukto-7838\/\">acquired its Egyptian rival Trukto<\/a> to become the largest digital trucking marketplace in Egypt, and <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/21\/egyptian-trucking-app-trella-will-make-its-saudi-debut-any-day-now-6812\/\">launched its services in Saudi Arabia<\/a> to act as a gateway for further expansion into the GCC countries.<\/p><p><strong>The potential to solve a big problem with a good team<\/strong> <strong>raises investor interest<\/strong>, Hagrass told us. His goal? To turn the company into Egypt\u2019s first unicorn.<\/p><p><strong>Tap or click here to listen to the episode on<\/strong> <a href=\"https:\/\/bit.ly\/2YXE0u0\">our website<\/a> | <a href=\"https:\/\/apple.co\/3etJZgM\">Apple Podcast<\/a> | <a href=\"https:\/\/bit.ly\/2Z7gtqG\">Google Podcast<\/a> | <a href=\"https:\/\/bit.ly\/2BAv321\">Omny<\/a>. We\u2019re also available on <a href=\"https:\/\/spoti.fi\/318pZMZ\">Spotify<\/a>, but only for non-MENA accounts. Subscribe to Making It <a href=\"https:\/\/bit.ly\/2Z4R015\">here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/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\/sports\/\">sports<\/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\/uae\/\">UAE<\/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=\"572455\" 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 svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-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\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-2o4cts5\" data-v=\"4\" data-block-id=\"2o4cts5\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2o4cts5-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2o4cts5-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/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-vfru72m\" data-v=\"4\" data-block-id=\"vfru72m\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-vfru72m-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-vfru72m-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/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-4lfekx8\" data-v=\"4\" data-block-id=\"4lfekx8\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4lfekx8-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4lfekx8-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-9k85ei0\" data-v=\"4\" data-block-id=\"9k85ei0\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9k85ei0-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9k85ei0-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                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" 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=\"572456\" 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=\"572456\">\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\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/\">\r\n                            Foreign Minister Sameh Shoukry talks Egypt\u2019s foreign policy developments on the airwaves                        <\/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\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/\" 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\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/')\">\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\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/\">\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=Foreign Minister Sameh Shoukry talks Egypt\u2019s foreign policy developments on the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/\">\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\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/&title=Foreign Minister Sameh Shoukry talks Egypt\u2019s foreign policy developments on the airwaves\">\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=Foreign+Minister+Sameh+Shoukry+talks+Egypt%E2%80%99s+foreign+policy+developments+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fforeign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves%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\/25\/foreign-minister-sameh-shoukry-talks-egypts-foreign-policy-developments-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572456\" class=\"content-area-description single-story post-572456 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-gerd tag-libya tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>It was a relatively quiet night on the airwaves, save for <strong>Foreign Minister Sameh Shoukry\u2019s<\/strong><strong> phone-in to Yahduth fi Misr to talk about the Grand Ethiopian Renaissance Dam (GERD) negotiations and the situation in Libya<\/strong>.<\/p>\n<p><strong>Egypt\u2019s efforts to reach a political resolution in Libya<\/strong>, which culminated in the announcement of the Cairo Declaration <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38833ec4-0b6c-42b6-8d9d-2d74307b8f57\">earlier this month<\/a>, <strong>has earned wide international backing<\/strong>, Shoukry said. The minister stressed that Egypt would like to see both Libyan parties coming together at the negotiating table to agree on the road ahead.<\/p>\n<p><strong>The UN Security Council is not meant to entangle itself in the technical details of GERD<\/strong>, such as the timeline for filling the dam\u2019s reservoir, but will act as an authority figure of sorts to ensure Egypt, Sudan, and Ethiopia each do their part in the ongoing negotiations and don\u2019t take unilateral action. Shoukry warned that Egypt will not continue to entertain \u201cendless\u201d negotiations over the dam, in which it has already invested plenty of time (<a href=\"https:\/\/www.youtube.com\/watch?v=C0Ae7c0O7Tg\">watch, runtime: 18:52<\/a>). President Abdel Fattah El Sisi also reiterated yesterday that Egypt would like to reach a diplomatic solution to the dam dispute, Masaa DMC\u2019s Ramy Radwan noted (<a href=\"https:\/\/www.youtube.com\/watch?v=ApDDYonQ9zY\">watch, runtime: 1: 48<\/a>).<\/p>\n<p><strong>Irrigation Minister Mohamed Abdel Aty also gave Amer a recap of the GERD negotiations so far<\/strong>, pointing out that disagreements over the technical parts of the dam led to a standstill in the talks. Abdel Aty reiterated that Egypt is more than willing to engage in more talks if Ethiopia signals its intention to reach a mutually satisfactory agreement on these issues and on a mechanism to resolve potential disputes down the line (<a href=\"https:\/\/www.youtube.com\/watch?v=Ch4VZ9wpMXg\">watch, runtime: 10:28<\/a>).<\/p>\n<p>Radwan noted that <strong>Sudan also wants to hammer out an agreement with Egypt and Ethiopia<\/strong>, with Sudanese Irrigation Minister Yasser Abbas <a href=\"https:\/\/suna-sd.net\/ar\/single?id=673159\">calling<\/a> for a legally binding accord. Abbas also said yesterday that Khartoum is preparing its own policy letter on the GERD issue to submit to the Security Council (<a href=\"https:\/\/www.youtube.com\/watch?v=eGHkjRRL6AQ&t=76s\">watch, runtime: 2:46<\/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\/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\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"572457\" 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=\"572457\">\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\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/\">\r\n                            IMF forecasts deeper recession, slower recovery as virus fears linger                        <\/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\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/\" 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\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/')\">\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\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/\">\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=IMF forecasts deeper recession, slower recovery as virus fears linger&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/\">\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\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/&title=IMF forecasts deeper recession, slower recovery as virus fears linger\">\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=IMF+forecasts+deeper+recession%2C+slower+recovery+as+virus+fears+linger+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fimf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger%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\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/272.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572458\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/272-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/272.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"272.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/272.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/272.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572457\" class=\"content-area-description single-story post-572457 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-advanced-economies tag-china tag-covid-19 tag-economics tag-economy tag-emerging-markets tag-enterpriseam tag-france tag-gita-gopinath tag-imf tag-investment-watch tag-italy tag-pandemic tag-spain tag-speed-round tag-supply-chain tag-trade tag-uk tag-us 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>YOUR DAILY DOSE OF GLOOM- IMF forecasts deeper global recession, slower recovery <\/strong><strong>as virus fears linger: <\/strong>The global economy will suffer a deeper recession than previously expected as the pandemic continues to intensify in some parts of the world, and businesses and consumers continue to reel from the effects of the \u201cGreat Lockdown,\u201d the IMF said yesterday. In its updated World Economic Outlook, the fund <strong>projects the world economy to contract 4.9% in 2020<\/strong>, a significant revision from the 3% recession <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2ecf97e-8c74-428f-843c-0559f5b1540f\">projected in April<\/a>. Growth forecasts for next year have also been taken down a notch, with the economy now expected to expand at a 5.4% clip, down from 5.8% previously.<\/p>\n<p><strong>\u201cThe downgrade from April reflects worse than anticipated outcomes in the first half of this year<\/strong>, an expectation of more persistent social distancing into the second half of this year, and damage to supply potential,\u201d IMF chief economist Gita Gopinath wrote in a <a href=\"https:\/\/blogs.imf.org\/2020\/06\/24\/reopening-from-the-great-lockdown-uneven-and-uncertain-recovery\/\">blog post<\/a> accompanying the report.<\/p>\n<p><strong>Things just got that much worse for the developed world:<\/strong> The IMF now expects advanced economies to shrink by 8% (a deterioration from 6.1% in April). France, Italy, and Spain will each contract by almost 13%, the UK more than 10% and the US 8%. Economic projections in the emerging world were also lowered by 2%, with the fund now expecting GDP to fall 3% on aggregate. China will be the lone big emerging economy to expand this year, seeing 1% growth before surging to 8.2% in 2021.<\/p>\n<p><strong>\u201cThis crisis like no other will have a recovery like no other\u201d: <\/strong>When it comes to recovery, we\u2019re going to have to be patient. The unprecedented damage caused to the labor market will bite, as will uneven recoveries when everyone \u2014 developed markets and EM, exporters and importers \u2014 has just taken it on the chin. Consumption and investment are both expected to improve next year but a host of variables \u2014 including the restoration of supply chains, job creation, voluntary social distancing and workplace safety measures \u2014 could soon throw this off.<\/p>\n<p><strong>The IMF now sees the Egyptian economy maintaining 2% growth through to the end of 2021<\/strong>, scaling back its earlier projection that Egypt\u2019s economy would grow 2% in 2020 and 2.8% in 2021.<\/p>\n<p><strong>Still, this would be a pretty exceptional performance, given the dire situation for other economies in the region and the wider world.<\/strong> Of the MENA countries surveyed by the IMF, Egypt will be the only economy to maintain growth this year. Saudi Arabia is now expected to contract by a whopping 6.8% this year (a 4.5% downgrade from April) and Turkey\u2019s economy will shrink 5%.<\/p>\n<p><strong>Take all of this with a massive pinch of salt:<\/strong> Gopinath was at pains to convey the level of continued uncertainty surrounding the trajectory of the global economy. \u201cA high degree of uncertainty surrounds this forecast, with both upside and downside risks to the outlook,\u201d she wrote, noting the potential for both a vaccine and a second outbreak to seriously change the dynamics of the economy.<\/p>\n<p><strong>You can <\/strong><strong><a href=\"https:\/\/ent.news\/2020\/6\/WEOENG202006.pdf\">tap \/ click here<\/a><\/strong><strong> for the full report<\/strong> (pdf), and download the raw data <a href=\"https:\/\/ent.news\/2020\/6\/WEOJun2020update.xlsx\">here in xlsx format<\/a>, which is where you\u2019ll find the Egypt figures.<\/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\/advanced-economies\/\">advanced economies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economics\/\">economics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gita-gopinath\/\">Gita Gopinath<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment 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\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spain\/\">Spain<\/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\/supply-chain\/\">supply chain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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=\"572464\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572465\" 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=\"572465\">\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\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/\">\r\n                            True to their conservative nature, CFA holders are banking on slower recovery                        <\/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\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/\" 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\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/')\">\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\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/\">\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=True to their conservative nature, CFA holders are banking on slower recovery&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/\">\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\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/&title=True to their conservative nature, CFA holders are banking on slower recovery\">\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=True+to+their+conservative+nature%2C+CFA+holders+are+banking+on+slower+recovery+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Ftrue-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery%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\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/274.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572466\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/true-to-their-conservative-nature-cfa-holders-are-banking-on-slower-recovery\/274-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/274.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"274.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/274.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/274.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572465\" class=\"content-area-description single-story post-572465 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-emerging-markets tag-enterpriseam 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-06\"><\/a> <strong>True to their conservative nature, CFA holders banking on slower economic<\/strong><strong> recovery: <\/strong>Chartered Financial Analyst (CFA) certificate holders expect the post-covid recovery to either be hockey stick-shaped or U-shaped, according to a report of the survey results by the CFA Institute. As many as 44% of the respondents expect the former scenario, which implies a medium-term rebound, while 35% are pricing in the latter, which is tantamount to a slow-paced comeback. Another 10% still seem to think that a quick and robust V-shaped recovery \u2014 which some expected in the earlier stages of the crisis, but has since been widely seen as unlikely \u2014 could be in the cards.<\/p>\n<p><strong>CFA holders based in the Middle East agree, <\/strong>with 46% expecting a hockey stick, 33% penciling in a \u2018U,\u2019 and 9% banking on a \u2018V.\u2019 Most respondents applauded central bank intervention, but remained split on whether this should continue or if it\u2019s time for the invisible hand to take over.<\/p>\n<p><strong>Long-term impact: <\/strong>Large-scale bankruptcies were shown to be the most concerning long term risk posed by the deterioration of market condition due to the pandemic, with 39% of the survey respondents expecting institutions to run out of money. Over a third (38%) expected companies to be forced to speed up operational automation and increase reliance on outsourcing to save costs and 34% see large-scale consolidations taking place on the longer term.<\/p>\n<p>Also, as many as 33% expect <strong>the long-term to drive a wedge between emerging and developed markets<\/strong> and drive them further apart. One explanation is that liquidity in EMs has most likely dropped as three-quarters of the CFA respondents believe it to have suffered more than in developed countries.<\/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\/emerging-markets\/\">emerging markets<\/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=\"572467\" 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=\"572467\">\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\/25\/egypt-in-the-news-on-25-june-2020\/\">\r\n                            Egypt in the News on 25 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\/25\/egypt-in-the-news-on-25-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\/25\/egypt-in-the-news-on-25-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\/25\/egypt-in-the-news-on-25-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 25 June 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/egypt-in-the-news-on-25-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\/25\/egypt-in-the-news-on-25-june-2020\/&title=Egypt in the News on 25 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+25+June+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fegypt-in-the-news-on-25-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\/25\/egypt-in-the-news-on-25-june-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572467\" class=\"content-area-description single-story post-572467 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-diplomacy tag-egypt-in-the-news tag-enterpriseam tag-ethiopia tag-gerd tag-israel tag-libya tag-palestine tag-pandemic tag-politics tag-saudi-arabia tag-turkey tag-us tag-war wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Foreign policy challenges dominate the conversation on Egypt this morning <\/strong>starting with <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2020-06-24\/egypt-s-el-sisi-suffers-reversal-of-fortunes-beyond-just-libya?sref=mmeFTDW1\">Bloomberg Opinion<\/a>\u2019s Bobby Ghosh, who notes the country is grappling with Turkey\u2019s involvement in Libya, Ethiopia\u2019s dam, Israel\u2019s potential annexation of its West Bank settlements \u2014 and the economic impact of covid-19. Tension over Libya is also on the mind at Washington-focused site <a href=\"https:\/\/thehill.com\/opinion\/international\/504237-egypts-sisi-risks-a-quagmire-in-libya-and-thats-not-in-the-uss-best\">the Hill<\/a><\/p>\n<p><strong>Also making the rounds: <\/strong>The <a href=\"https:\/\/apnews.com\/88ce10fd2662d70f838c6d01dc8e0a66\">Associated P<\/a><a href=\"https:\/\/apnews.com\/88ce10fd2662d70f838c6d01dc8e0a66\">ress<\/a> picked up on the arrest yesterday of <strong>Nora <\/strong><strong>Younis<\/strong>, the editor of news outlet Al-Manassa. Trans-activist <strong>Noor Hesham Selim<\/strong> is being sued for promoting vice after posting an instagram clip expressing concern over the reaction to the death of exiled LGBTQ activist <strong>Sarah Hegazy<\/strong>, <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2E15BN\">Reuters<\/a> reports. And workout addicts are looking forward to the <strong>reopening of gyms<\/strong> this coming Saturday, with facilities set to open 6am-9pm, <a href=\"https:\/\/news.yahoo.com\/egypt-bodybuilders-feel-pain-no-gain-virus-lockdown-023918434.html\">AFP<\/a> writes.<\/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\/diplomacy\/\">DIPLOMACY<\/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\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"572468\" 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=\"572468\">\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\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/\">\r\n                            East Libya to push for Egypt military intervention if Sirte attacked                        <\/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\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/\" 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\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/')\">\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\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/\">\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=East Libya to push for Egypt military intervention if Sirte attacked&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/\">\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\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/&title=East Libya to push for Egypt military intervention if Sirte attacked\">\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=East+Libya+to+push+for+Egypt+military+intervention+if+Sirte+attacked+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Feast-libya-to-push-for-egypt-military-intervention-if-sirte-attacked%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\/25\/east-libya-to-push-for-egypt-military-intervention-if-sirte-attacked\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572468\" class=\"content-area-description single-story post-572468 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-abdel-fattah-el-sisi tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-khalifa-haftar tag-libya tag-national-security tag-politics tag-security tag-turkey tag-war wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>East Libya to push for Egypt military intervention if Sirte attacked:<\/strong> Libya\u2019s eastern parliament will formally ask Egypt to send troops if the Turkey-backed west Libyan forces attack Sirte, the <a href=\"https:\/\/apnews.com\/b5e9c46df2ca700696b63e851511f426\">Associated Press<\/a> reports, citing MENA. President Abdel Fattah El Sisi last week threatened to deploy troops to the east of the country if forces loyal to the Tripoli-based government move in Sirte, calling an attack on the strategic town a \u201cred line.\u201d Egyptian military action would be \u201clegitimate ... if the terrorist and armed militias crossed the red line,\u201d MENA quoted speaker of the eastern House of Representatives Aguila Saleh as saying. Turkey\u2019s entry into the war has turned the tide for the Tripoli government, bringing an end to Khalifa Haftar\u2019s 14-month offensive on the capital and mounting a campaign to retake territory in the country\u2019s east.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khalifa-haftar\/\">Khalifa Haftar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"572470\" 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=\"572470\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/\">\r\n                            SDX Energy optimistic it will extend gas production at South Disouq till 2026                        <\/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\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/\" 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\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/')\">\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\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/\">\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=SDX Energy optimistic it will extend gas production at South Disouq till 2026&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/\">\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\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/&title=SDX Energy optimistic it will extend gas production at South Disouq till 2026\">\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=SDX+Energy+optimistic+it+will+extend+gas+production+at+South+Disouq+till+2026+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fsdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026%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\/25\/sdx-energy-optimistic-it-will-extend-gas-production-at-south-disouq-till-2026\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572470\" class=\"content-area-description single-story post-572470 post type-post status-publish format-standard hentry category-energy tag-energy tag-enterpriseam tag-oil-and-gas tag-sdx-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>SDX Energy will maintain its 50 mcf\/d gas production rate at its onshore South Disouq block for another 18 to 24 months, with a further extension to mid-2026 also likely, the company said in a <a href=\"https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/922534\/sdx-energy-eyes-catalysts-in-egypt-and-morocco-as-analysis-of-recent-wells-bode-well-922534.html\">statement<\/a>. The block\u2019s Sobhi well will generate USD 25 mn of cash flow, according to the statement. SDX will also begin drilling in West Gharib next year to increase production in the Meseda and Rabul fields to gross around 4,000 bbl\/d by 2022.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sdx-energy\/\">SDX Energy<\/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=\"572472\" 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=\"572472\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/\">\r\n                            Shipping line now connects Ain Sokhna to UAE's Jebel Ali                        <\/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\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/\" 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\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/')\">\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\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/\">\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=Shipping line now connects Ain Sokhna to UAE's Jebel Ali&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/\">\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\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/&title=Shipping line now connects Ain Sokhna to UAE's Jebel Ali\">\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=Shipping+line+now+connects+Ain+Sokhna+to+UAE%27s+Jebel+Ali+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fshipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali%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\/25\/shipping-line-now-connects-ain-sokhna-to-uaes-jebel-ali\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572472\" class=\"content-area-description single-story post-572472 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive-transportation tag-dp-world tag-enterpriseam tag-logistics tag-saudi-arabia tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Saudi Ports Authority launched yesterday the first direct shipping line connecting Ain Sokhna Port to the UAE\u2019s Jebel Ali Port, in partnership with Dubai-based DP World, the <a href=\"https:\/\/saudigazette.com.sa\/article\/594616\/SAUDI-ARABIA\/Shipping-line-connecting-Jebel-Ali-and-Sokhna-through-JIP-launched\">Saudi Gazette<\/a> reports. The shipping line runs through the Jeddah Islamic Port.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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=\"572474\" 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=\"572474\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/\">\r\n                            My WFH Routine: Aaloak Jaswal, head of the UN Technology Innovation Lab in Egypt                        <\/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\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/\" 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\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/')\">\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\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/\">\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=My WFH Routine: Aaloak Jaswal, head of the UN Technology Innovation Lab in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/\">\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\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/&title=My WFH Routine: Aaloak Jaswal, head of the UN Technology Innovation Lab in Egypt\">\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=My+WFH+Routine%3A+Aaloak+Jaswal%2C+head+of+the+UN+Technology+Innovation+Lab+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F06%2F25%2Fmy-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt%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\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/275.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572475\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/my-wfh-routine-aaloak-jaswal-head-of-the-un-technology-innovation-lab-in-egypt\/275-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/275.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"275.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/275.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/275.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572474\" class=\"content-area-description single-story post-572474 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-enterpriseam tag-my-morning-routine tag-technology tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Aaloak Jaswal, head of the UN Technology Innovation Lab in Egypt, who <\/strong><strong>wants to use AI to stop the spread of covid-19 and bring us all solar power (among other things):<\/strong> My Morning \/ WFH Routine looks each week at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Aaloak Jaswal, head of the<a href=\"https:\/\/until.un.org\/content\/until-egypt-lab\">UN Technology Innovation Lab (UNTIL)<\/a> in Egypt and all-around great guy. Edited excerpts from our chat:<\/p>\n<p><strong>Who are you and what do you do?<\/strong><\/p>\n<p>I\u2019m Aaloak Jaswal \u2014 I grew up in Canada, of Indian origin. Despite the fact that we\u2019re on a convergence between the<a href=\"https:\/\/www.weforum.org\/about\/the-fourth-industrial-revolution-by-klaus-schwab\"><\/a><a href=\"https:\/\/www.weforum.org\/about\/the-fourth-industrial-revolution-by-klaus-schwab\">fourth industrial revolution<\/a> and the<a href=\"https:\/\/www.pnas.org\/content\/pnas\/114\/30\/E6089.full.pdf?TB_iframe=true&width=370.8&height=658.8\"><\/a><a href=\"https:\/\/www.pnas.org\/content\/pnas\/114\/30\/E6089.full.pdf?TB_iframe=true&width=370.8&height=658.8\">sixth mass extinction<\/a> in a global economy that perpetuates patterns of discrimination and exclusion, <strong>we do really cool, impactful things<\/strong> by bridging the gap between innovation, sustainable development and inclusivity.<\/p>\n<p>Like others in the business community, covid-19 has monopolized our bandwidth. Among other things, we\u2019re partnering with Orascom subsidiary<a href=\"https:\/\/uplift.geminiafrica.com\/\"><\/a><a href=\"https:\/\/uplift.geminiafrica.com\/\">Gemini on a covid-19 \u201cuplift\u201d initiative<\/a> and we ran an online <strong>\u201cHack the Virus\u201d<\/strong> challenge with TIEC, Dell, Novartis and other UN agencies calling on innovators to develop solutions to stop the spread of the virus. We\u2019re also exploring a women\u2019s innovation hub with the National Council for Women and UN Women.<\/p>\n<p>We were working on some great stuff before covid, like <strong>cold-chain solutions,<\/strong> and <strong>Uber-izing farm equipment<\/strong> for farmers who can\u2019t afford to buy. Closest to my heart, we\u2019re working with the German University in Cairo, targeting an impoverished community in Minya with no water, sanitation, or hygiene systems. With no grid access, we will implement a <strong>water treatment system driven by solar energy and AI<\/strong> and address the issues of gender-based violence and irrigation for agriculture simultaneously.<\/p>\n<p><strong>What\u2019s your morning routine?<\/strong><\/p>\n<p>Working from home, I start at 6am, checking WhatsApp, email and reading Enterprise. By 7am, I\u2019m stretching and then running before I shower and have a smoothie while taking 30 minutes to prioritize the day\u2019s tasks. By 8:30, I change gears and make breakfast for my seven-year-old boy, Shivshankar, and get him ready for \u201ce-learning\u201d before I start the day with my team.<\/p>\n<p><strong>What does the rest of your day look like?<\/strong><\/p>\n<p>I\u2019m privileged to collaborate with phenomenal team members (shout out to Raghda El Milegy and Ghada Hamdy), with great Egyptian entrepreneurs, our hosts the Government of Egypt, and other UN agencies with one aim: Meaningful and sustainable impact through innovation.<\/p>\n<p>Covid has added an entirely new dimension \u2014 I research and vet proven and scalable solutions that accelerate progress toward addressing the pandemic, especially for vulnerable people. <strong>I\u2019ve introduced AI technology to the Health Ministry that minimizes human interaction in testing for the virus; <\/strong>it can handle 10 mn concurrent calls, thus making call centers unnecessary to schedule testing appointments or contact patients to provide results. The Government of Ireland had to contact 8k people to inform them of their negative C-19 results, paying 250 call center workers over the course of a week. <strong>My proposed solution completed the task in 10 minutes<\/strong> and is usable by everyone from Luddites to the tech savvy.<\/p>\n<p><strong>You talk a lot about inclusion. How does tech factor into that?<\/strong><\/p>\n<p>Millennials have grown up with access to more information than all previous generations combined \u2014 and that will be the difference. Mark Twain said travel is fatal to ignorance, thus <strong>big data will lead to insights that are the enemy of ignorance and false biases<\/strong>. It will also have an exponential impact on development, but we must remain vigilant; when big data is corrupted by big silences, the truths you get are half-truths. And often, for vulnerable populations and women, they aren\u2019t true at all. Digital inclusion must remain at the forefront.<\/p>\n<p><strong>How is your sector changing?<\/strong><\/p>\n<p>It cost roughly USD 2.7 bn to sequence the human genome in 2003. Today, USD 699. Medical knowledge doubled every 3.5 years in 2010. In 2020, it will double every 73 days. Technology is changing at a mind boggling rate. Moore\u2019s law is no longer valid, and I tell people <strong>we\u2019re living in Star Trek times<\/strong>.<a href=\"https:\/\/arthurcclarke.org\/#start\"><\/a><a href=\"https:\/\/arthurcclarke.org\/#start\">Arthur C Clark<\/a> was one of the greatest visionaries of the 20th century \u2014 what I would give to hear his thoughts on the upcoming 80 years.<\/p>\n<p><strong>What keeps you up at night?<\/strong><\/p>\n<p>There have been five mass extinction events in the Earth\u2019s history, each wiping out 70-95% of the planet\u2019s life. The last was 66 million years ago and led to the extinction of the dinosaurs. <strong>We\u2019re now in the middle of the sixth mass extinction, and it\u2019s entirely our fault.<\/strong><\/p>\n<p><strong>We didn\u2019t inherit the earth from our ancestors \u2014 we borrowed it from our children.<\/strong> Shivshankar is being handed back a hotter planet, with melting glaciers, rising oceans, biodiversity wiped out, and where extreme weather patterns leading to natural disasters will be commonplace. I lay in bed thinking how sustainable energy can restore equilibrium. Throw Donald Trump into the mix, and it\u2019s a wonder I ever sleep.<\/p>\n<p><strong>What do you do in your free time?<\/strong><\/p>\n<p><strong>I stay on top of bleeding edge sustainable energy<\/strong> \u2014 solar street lighting, panels, batteries, pumps. That\u2019s my passion. The solutions I\u2019ve seen in the ME and Africa are rudimentary and expensive. I want to impact vulnerable populations by implementing sustainable energy through the affordable advanced technologies I can bring to the market.<\/p>\n<p><strong>I\u2019m also a car guy. I own a 1992 Pontiac Firehawk with 3k km on it. There\u2019s only 25 in existence.<\/strong> I\u2019m passionate about the arts \u2014 I was a DJ in NYC. I love playing soccer and tennis. What I enjoy most is introducing Shivshankar to new things. He loves music: David Bowie, The Tragically Hip, Tom Petty, Stevie Wonder, and Michael Jackson.<\/p>\n<p><strong>What was the last great thing you read?<\/strong><\/p>\n<p>Johnny Marr \u2014<a href=\"https:\/\/www.amazon.com\/Set-Free-Autobiography-Johnny-Marr-ebook\/dp\/B01BSJR4PK\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1592181308&sr=8-1\"><\/a><a href=\"https:\/\/www.amazon.com\/Set-Free-Autobiography-Johnny-Marr-ebook\/dp\/B01BSJR4PK\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1592181308&sr=8-1\">Set the Boy Free<\/a>. The greatest composer and guitarist of my generation, and the list of bands he\u2019s played with is as vast as my body long. His impact prompted Ray-Ban to create special edition Johnny Marr sunglasses and Fender made the Johnny Marr Jaguar guitar. His creativity and humility combined with his precision and passion for being the best is something I deeply admire but fail miserably to emulate. He\u2019s a wizard; he\u2019s so good that Johnny Marr can\u2019t even play Johnny Marr. He always wears impeccable shoes and sports a great haircut.<\/p>\n<p><a href=\"https:\/\/www.amazon.com\/Story-My-Experiments-Truth-ebook-dp-B084X7VTFV\/dp\/B084X7VTFV\/ref=mt_other?_encoding=UTF8&me=&qid=1592181259\">Mahatma Gandhi \u2014 An Autobiography.<\/a> Einstein said: \u201cGenerations to come will scarcely believe that such a one as this ever in flesh and blood walked upon this earth.\u201d<\/p>\n<p>Honorable mention:<a href=\"https:\/\/www.amazon.com\/Who-Am-Memoir-Pete-Townshend-ebook\/dp\/B0089LOMJC\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1592181128&sr=8-1\"><\/a><a href=\"https:\/\/www.amazon.com\/Who-Am-Memoir-Pete-Townshend-ebook\/dp\/B0089LOMJC\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=1592181128&sr=8-1\">Pete Townshend \u2014 Who I Am<\/a>.<\/p>\n<p><strong>What was the last great thing you watched?<\/strong><\/p>\n<p><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80203144\">The Last Dance<\/a>: A Netflix documentary on Michael Jordan and the 1997-1998 Chicago Bulls playoff run. No one was more present in the here and now. When it came down to the final seconds, he wanted the ball. That presence, drive and confidence used to be me on the soccer field\u2014 and it\u2019s me in everything I\u2019m doing professionally and personally now.<\/p>\n<p><strong>What\u2019s the best piece of advice (business or personal) you\u2019ve ever been given and by whom?<\/strong><\/p>\n<p>Can I choose two? From Dad: \u201cYou can kick at nature for so long before she kicks back.\u201d And from Mom: \u201cDon\u2019t listen to your head or your heart \u2013 they\u2019ll set you on a wrong path. Listen to your conscience. \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\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"572476\" 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=\"572476\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/the-market-yesterday-116\/\">\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\/25\/the-market-yesterday-116\/\" 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\/25\/the-market-yesterday-116\/')\">\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\/25\/the-market-yesterday-116\/\">\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\/25\/the-market-yesterday-116\/\">\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\/25\/the-market-yesterday-116\/&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%2F25%2Fthe-market-yesterday-116%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\/25\/the-market-yesterday-116\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572476\" class=\"content-area-description single-story post-572476 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 16.12 | Sell 16.22<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 16.12 | Sell 16.22<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 16.10 | Sell 16.20<\/p>\n<p><strong>EGX30<\/strong> (Wednesday): 11,040 (+2.6%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.4 bn (74% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -20.9%<\/p>\n<p><strong>THE MARKET ON WEDNESDAY:<\/strong> The EGX30 ended Wednesday\u2019s session up 2.6%. CIB, the index\u2019s heaviest constituent, ended up 2.0%. EGX30\u2019s top performing constituents were GB Auto up 8.4%, TMG Holding up 7.6%, and CIRA up 7.6%. Yesterday\u2019s worst performing stock was Dice down 0.5%. The market turnover was EGP 1.4 bn, and domestic investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -93.6 mn<br \/>\n <strong>Regional<\/strong>: Net Short | EGP -21.9 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +115.6 mn<\/p>\n<p><strong>Retail<\/strong>: 72.4% of total trades | 71.5% of buyers | 73.3% of sellers<br \/>\n <strong>Institutions<\/strong>: 27.6% of total trades | 28.5% of buyers | 26.7% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 38.11 (+0.26%)<br \/>\n <strong>Brent:<\/strong> USD 40.31 (-5.44%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.58 MMBtu, (-0.94%, July 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,770.60 \/ troy ounce (-0.25%)<\/p>\n<p><strong>TASI:<\/strong> 7,213.36 (-0.71%) (YTD: -14.02%)<br \/>\n <strong>ADX:<\/strong> 4,329.72 (+0.24%) (YTD: -14.70%)<br \/>\n <strong>DFM:<\/strong> 2,099.21 (-1.01%) (YTD: -24.08%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,669.35 (+1.45%)<br \/>\n <strong>QE:<\/strong> 9,225.92 (-0.38%) (YTD: -11.51%)<br \/>\n <strong>MSM:<\/strong> 3,524.55 (0.00%) (YTD: -11.47%)<br \/>\n <strong>BB: <\/strong>1,280.83 (+0.04%) (YTD: -20.45%)<\/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=\"572477\" 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\/25\/572477\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572477\" class=\"content-area-description single-story post-572477 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>26 June (Friday): The IMF\u2019s executive board will decide on whether to disburse a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16be15c7-809a-4228-ae03-8d3acd1c122f\">USD 5.2 bn standby loan<\/a>.<\/p>\n<p>27 June (Saturday): Nationwide curfew ends.<\/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    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":572453,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-572452","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"06e66b4f-de8b-4578-a0b8-7c61298e067c","teaser":"","photo_url":"https:\/\/ent.news\/2020\/6\/268.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The IMF thinks the global recession will be worse than it originally predicted - 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\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The IMF thinks the global recession will be worse than it originally predicted\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T08:34:57+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/\",\"name\":\"The IMF thinks the global recession will be worse than it originally predicted - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2020-06-25T04:08:12+00:00\",\"dateModified\":\"2025-12-16T08:34:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The IMF thinks the global recession will be worse than it originally predicted\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The IMF thinks the global recession will be worse than it originally predicted - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/","og_locale":"en_US","og_type":"article","og_title":"The IMF thinks the global recession will be worse than it originally predicted","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T08:34:57+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/","name":"The IMF thinks the global recession will be worse than it originally predicted - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1","datePublished":"2020-06-25T04:08:12+00:00","dateModified":"2025-12-16T08:34:57+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/268.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/the-imf-thinks-the-global-recession-will-be-worse-than-it-originally-predicted\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"The IMF thinks the global recession will be worse than it originally predicted"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572452\/revisions"}],"predecessor-version":[{"id":572486,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572452\/revisions\/572486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/572453"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}