{"id":572766,"date":"2020-07-08T03:58:10","date_gmt":"2020-07-08T03:58:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=572766"},"modified":"2025-12-16T08:45:46","modified_gmt":"2025-12-16T08:45:46","slug":"egypt-was-the-top-destination-for-fdi-in-mena-last-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-was-the-top-destination-for-fdi-in-mena-last-year\/","title":{"rendered":"Egypt was the top destination for FDI in MENA last year"},"content":{"rendered":"<section id=\"572768\" 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=\"572768\">\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\/07\/08\/what-were-tracking-on-8-july-2020\/\">\r\n                            What we\u2019re tracking on 8 July 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\/07\/08\/what-were-tracking-on-8-july-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Tuesday hates us, today is almost-THURSDAY and tomorrow is the best day of the workweek (followed, oddly enough, by Sunday, but that\u2019s another story).<\/p><p><strong>Some good news to start the day: <\/strong>Even if it was in a down market, Egypt was the top MENA destination for foreign direct investment last year, accounting for 23% of total inflows. Meanwhile, foreign reserves ticked up last month as Egypt took receipt of an IMF facility according to yesterday\u2019s CBE reserves report, and we have continuing signs that M&amp;A remains very much on the agenda in 2020. Details on all this and more in this morning\u2019s Speed Round.<\/p><p><strong>New covid cases inched up slightly yesterday<\/strong> after slipping below 1k earlier in the week (the lowest figure since the end of May), but deaths continued their downtrend.<\/p><p><strong>Food security remains a top priority <\/strong>as state grain buyer GASC remains aware that future covid flareups in major grain producers could see a return of the protectionist sentiment that prompted Romania and others impose or contemplate export bans earlier in the crisis. GASC issued yesterday an international tender for an unspecified quantity of wheat for shipment between August 8-18, according to <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2EE3A9\">Reuters<\/a>.<\/p><p><strong>So, what does a new normal look like? And when will we get there? <\/strong>There won\u2019t be a sharp before-and-after, but rather a slow slide toward some approximation of normal, argues Obama administration health boss Andy Slavitt in <a href=\"https:\/\/twitter.com\/ASlavitt\/status\/1280283199445311488\">this excellent thread of tweets.<\/a> <strong>Good news: <\/strong>Progress on vaccines (plural) is moving along nicely, monoclonal antibody therapy for sick folks could be a game-changer, and every expert he\u2019s consulted with is adamant that universal masking is going to be key to stamping out covid. All this and more if you hit the link.<\/p><p><strong>SIGNS OF THE TIMES <\/strong>(or otherwise just worth reading \u2014 the FT knocked it out of the park this morning):<\/p><ul>\n<li><a href=\"https:\/\/www.ft.com\/content\/b46e5240-6007-4adf-ad47-51db72b32936\">What does an M&amp;A boutique do<\/a> when the [transactions] dry up? (FT)<\/li>\n<li>Global investors unwittingly subscribed to <a href=\"https:\/\/www.ft.com\/content\/bcebd77c-057b-4fd0-bd99-b97e0e559455\">bonds issued by the Italian mafia<\/a>. (FT)<\/li>\n<li><a href=\"https:\/\/www.ft.com\/content\/7309b1bd-9d91-4eb5-a75c-a29d191367de\">The world is falling apart<\/a> as America implodes (FT)<\/li>\n<li>The Donald\u2019s life is about to get complicated as <a href=\"https:\/\/www.nytimes.com\/2020\/07\/07\/nyregion\/mary-trump-book.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">his niece\u2019s book<\/a> is <a href=\"https:\/\/www.nytimes.com\/2020\/07\/07\/us\/politics\/donald-trump-mary-book.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">published<\/a> (NYT)<\/li>\n<\/ul><p><strong>And a reminder of a gentler time <\/strong>when we could all travel: Our friend Karim Helal, the finance veteran, is an accomplished street photographer who turned his lens on the least camera-friendly place in the Arab world \u2014 Morocco \u2014 back when we could all travel. <a href=\"https:\/\/fujilove.com\/assassin-de-photo\/\">He writes of the experience for Fujilove magazine<\/a>.<\/p><p><strong>The House continues to grind its way toward summer recess. <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d728f3a7-1c89-4081-82a9-554adbe7d2a3\">Amendments to the Public<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d728f3a7-1c89-4081-82a9-554adbe7d2a3\">Enterprises Act<\/a> will be up for a vote in Parliament within a week, Minister Hisham Tawfik told <a href=\"https:\/\/alborsaanews.com\/2020\/07\/08\/1364313\">ONTV E\u2019s \u201cEvery Day\u201d show<\/a>. We have highlights of a busy day in parliament in the second half of Speed Round.<\/p><p><strong>Inflation data for June <\/strong>is due tomorrow. Annual urban inflation cooled in May to 4.7% \u2014 its lowest level since November 2019.<\/p><p><strong>Brokerage firms are required to submit license papers to the Financial Regulatory <\/strong><strong>Authority through an online portal in the coming days.<\/strong> The FRA has given brokers three days to upload licensing, registration, and other documentation to an online platform recently developed to monitor and track brokers, according to a circular carried by <a href=\"https:\/\/alborsaanews.com\/2020\/07\/07\/1363960\">the press<\/a>. The authority rolled out online services <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35e6ef99-0cd7-49b6-8c5f-a164d1bdd1ec\">earlier during the pandemic<\/a> to limit visits to its headquarters.<\/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\/3iHXiww\">confirmed<\/a><\/strong><strong> 67 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 3,489. Egypt has now disclosed a total of 77,279 confirmed cases of covid-19, after the ministry reported <strong>1,057 new infections yesterday<\/strong>. We now have a total of 21,718 cases who have fully recovered.<\/p><p><strong>Investment in Egypt\u2019s tourism industry expected to fall around 29% in <\/strong><strong>FY2020-2021<\/strong> to EGP 5.2 bn, from EGP 7.3 bn during the fiscal year that ended on 30 June, Planning and Economic Development Minister Hala El Said said yesterday, according to a <a href=\"https:\/\/bit.ly\/2Dh8uA5\">statement<\/a>. The National Planning Institute also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab4985e8-a58e-4546-954e-724b242197f3\">said last month<\/a> that tourism revenues will likely nosedive c.73% in 2020 as the pandemic continues to put a damper on leisure travel despite flights resuming earlier this month.<\/p><p><strong>Reopened restaurants want more customers, longer opening hours: <\/strong>The Chamber of Tourism Establishments is lobbying the government to increase to 50% the 25% capacity limit on cafes and restaurants and allow the sites, which are required to close their doors by 10pm, to remain open until 1am, Chairman Adel El Masry <a href=\"https:\/\/bit.ly\/31QxZ5C\">told Hapi Journal<\/a>. Some eateries had begun saying last month that they don\u2019t want the government to permanently impose a 10pm closing time for restaurants and coffee shops.<\/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\/7\/Somabay-July5-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Airborne coronavirus transmission a possibility, WHO says:<\/strong> The World Health Organization yesterday said that there is \u201cevidence emerging\u201d that the coronavirus may be spread through the air, a few days after hundreds of scientists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a55eba6b-c948-40dd-9c3d-d015b1ff8f10\">called on the health agency<\/a> to review its recommendations, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-who-airborne\/who-acknowledges-evidence-emerging-of-airborne-spread-of-covid-19-idUSKBN2482AU?il=0\">Reuters<\/a> reports.<\/p><p><strong>A covid-19 vaccine might not be the panacea we\u2019ve hoped it would be<\/strong>, top US virus expert Anthony Fauci warned, saying its protection would likely be \u201cfinite,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-06\/fauci-says-he-assumes-any-vaccine-will-offer-finite-protection?srnd=premium-middle-east\">Bloomberg<\/a> reports. A vaccine at this stage in the virus\u2019 evolution will provide no long term solution but it may help us get through the worst of the first wave of infections, Fauci said.<\/p><p><strong>The US has formally quit the WHO in the middle of a pandemic<\/strong>, but will remain a member of the organization until next July, leaving open the possibility that a Biden presidency could turn things around.<\/p><p><strong>Brazil\u2019s covid-sceptic president catches covid:<\/strong> Brazilian President Jair Bolsonaro has contracted covid-19 after repeatedly and vocally downplaying the seriousness of the disease since its outbreak and turning his homeland into an epicenter of the global pandemic with over 66k deaths, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-brazil\/brazils-bolsonaro-catches-coronavirus-shrugs-off-health-risks-idUSKBN2481EK\">Reuters<\/a>reports.<\/p><p><strong>Meat consumption has dropped over 3% worldwide in 2020 as the pandemic hit<\/strong><strong> demand<\/strong>, with restaurants closing their doors to customers, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-07\/pandemic-set-to-spark-biggest-retreat-for-meat-eating-in-decades\">Bloomberg Green<\/a> says, citing UN data. In the US, it is estimated that meat consumption won\u2019t return to pre-covid levels until at least after 2025.<\/p><p><strong>GLOBAL MACRO-<\/strong><\/p><p class=\"web-image\"><a href=\"https:\/\/www.reuters.com\/article\/us-companies-costs-graphic\/companies-seen-slashing-capex-12-this-year-deeper-than-in-2009-data-idUSKBN2480YH\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/Global-capex2020-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>It\u2019s a particularly downbeat morning on the macro front:<\/strong><\/p><p><strong>Global capex is set to plunge more this year than during the global financial <\/strong><strong>crisis:<\/strong> Companies are set to slash capex by an average 12% in 2020 in response to lockdowns imposed to contain the coronavirus, <a href=\"https:\/\/www.reuters.com\/article\/us-companies-costs-graphic\/companies-seen-slashing-capex-12-this-year-deeper-than-in-2009-data-idUSKBN2480YH\">Reuters<\/a> reports, citing Refinitiv data. The anticipated fall in spending beats out the 11.3% drop seen in 2009 after the global financial crisis. <strong>Energy, consumer discretionary and real estate<\/strong> are expected to be the hardest hit sectors, with capex falling 25%, 23% and 20% respectively. As far as countries are concerned, US firms will cut spending by 22%, Russian companies by 22% and French by 13.4%. China, whose companies will only cut capex by 4.5%, is comparatively unscathed.<\/p><p><strong>Europe\u2019s economic outlook is looking even bleaker than it did two months ago:<\/strong> The EU has downgraded its economic projections for this year, now estimating that the continent will experience a 8.7% contraction, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-07\/europe-sees-deeper-slump-with-fresh-warning-on-uneven-virus-hit\">Bloomberg<\/a>. Economic activity is projected to rebound during the second half of 2020, but the European Commission warned yesterday that the recovery will remain \u201cincomplete\u201d and \u201cuneven\u201d due to the social distancing measures, according to <a href=\"https:\/\/www.cnbc.com\/2020\/07\/07\/eu-cuts-economic-forecasts-for-the-region.html\">CNBC<\/a>.<\/p><p><strong>US voters are becoming increasingly pessimistic about the prospects of an<\/strong><strong> economic rebound from covid<\/strong>, a Financial Times and Peter G Peterson Foundation <a href=\"https:\/\/www.ft.com\/content\/808653be-b651-41aa-81b7-5f8ec3831e25\">poll found<\/a>.<\/p><p><strong>Policymakers seem to agree:<\/strong> Officials at the Federal Reserve are increasingly worried that the spike in coronavirus cases could cause further damage to the job market and consumer spending as existing stimulus programs expire, <a href=\"https:\/\/www.reuters.com\/article\/us-usa-fed\/fed-policymakers-see-economy-plateauing-risks-ahead-idUSKBN2482TW\">Reuters<\/a> reports.<\/p><p><strong>The African Development Bank has revised downwards its growth outlook for Africa<\/strong> and now projects that the continent\u2019s economy will shrink 1.7% this year, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-07\/africa-gdp-could-slump-3-4-in-worst-case-scenario-afdb-says?srnd=economics-vp&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Look for that figure to hit 3.4% if the pandemic continues through the second half of the year, it added.<\/p><p><strong>The Lebanese economy is going downhill fast, <\/strong>with more families plunging into poverty as the currency continues to take a beating, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-07\/lebanon-s-economic-collapse-is-gathering-pace?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg said<\/a>. The LBP has plunged nearly 60% against the USD over the past month, \u201cthreatening to suck the economy into a hyper-inflation spiral.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue:<\/strong> We look at why Egypt\u2019s private sector waste management firms are struggling, and why the government\u2019s pro-market reforms have failed to solve the waste sector\u2019s woes.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div 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href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/the-imf-gerd-and-tuition-fees-all-feature-on-the-airwaves\/\">\r\n                            The IMF, GERD and tuition fees all feature on the airwaves                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/the-imf-gerd-and-tuition-fees-all-feature-on-the-airwaves\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<div class='normal-story'><\/div>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572772\" 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=\"572772\">\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\/07\/08\/egypt-tops-mena-fdi-charts-in-2019-with-usd-13-7-bn\/\">\r\n                            Egypt tops MENA FDI charts in 2019 with USD 13.7 bn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n       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         <!-- <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 tops MENA FDI charts in 2019 with USD 13.7 bn&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/egypt-tops-mena-fdi-charts-in-2019-with-usd-13-7-bn\/\">\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\/07\/08\/egypt-tops-mena-fdi-charts-in-2019-with-usd-13-7-bn\/&title=Egypt tops MENA FDI charts in 2019 with USD 13.7 bn\">\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+tops+MENA+FDI+charts+in+2019+with+USD+13.7+bn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F08%2Fegypt-tops-mena-fdi-charts-in-2019-with-usd-13-7-bn%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\/07\/08\/egypt-tops-mena-fdi-charts-in-2019-with-usd-13-7-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/47.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572773\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/egypt-tops-mena-fdi-charts-in-2019-with-usd-13-7-bn\/47-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/47.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"47.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/47.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/47.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572772\" class=\"content-area-description single-story post-572772 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-enterpriseam tag-fdi tag-investment-watch tag-mena tag-real-estate tag-saudi-arabia tag-speed-round tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt was the top destination in MENA for FDI last year:<\/strong> Egypt attracted USD 13.7 bn worth of foreign direct investments(FDI) in 2019, putting it atop the Middle East and North Africa region league table, <a href=\"https:\/\/bit.ly\/2VVYRxf\">according to a report<\/a> from the Arab Investment and Export Credit Guarantee Corporation (Dhaman). FDI inflows to Egypt accounted for 23% of total netted by MENA countries and was up 7% from 2018. Egypt also topped the chart of average value per investment at USD 98 mn and registered <strong>the highest average number of jobs created per project<\/strong> at 180 jobs.<\/p>\n<p><strong>The UAE ranked first in the region in terms of the number of projects,<\/strong> as the country saw 445 projects in 2019, followed by Egypt with 140 projects and Saudi Arabia at 134 projects. The three counties were also the sole destinations to move the needle on real estate investment, led by Egypt by a significant margin at USD 7.1 bn, followed by the UAE at USD 1.3 bn and USD 0.6 bn in Saudi Arabia.<\/p>\n<p><strong>These numbers are significantly higher than the figures put out by the UN last month:<\/strong> According to UNCTAD, Egypt received <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ea51f4c-283b-4b1d-8e75-ce1b813a50f9\">USD 9 bn in FDI during 2019<\/a> \u2014 an 11% increase from the year before \u2014 making it the biggest recipient of FDI in Africa.<\/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\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/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\/speed-round\/\">SPEED ROUND<\/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=\"572786\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572787\" 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=\"572787\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/egypt-in-the-news-on-8-july-2020\/\">\r\n                            Egypt in the News on 8 July 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\/07\/08\/egypt-in-the-news-on-8-july-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\/07\/08\/egypt-in-the-news-on-8-july-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\/07\/08\/egypt-in-the-news-on-8-july-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 8 July 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/egypt-in-the-news-on-8-july-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\/07\/08\/egypt-in-the-news-on-8-july-2020\/&title=Egypt in the News on 8 July 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+8+July+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F08%2Fegypt-in-the-news-on-8-july-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\/07\/08\/egypt-in-the-news-on-8-july-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572787\" class=\"content-area-description single-story post-572787 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-covid-19 tag-economic-reform-program tag-egypt-in-the-news tag-enterpriseam tag-investment-watch tag-sports tag-tourism tag-travel wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>For the first time in a long time, business and the economy are leading the<\/strong><strong> conversation on Egypt in the foreign press.<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-07\/virus-toll-on-jobs-incomes-laid-bare-in-egypt-before-reopening\">Bloomberg<\/a> looks at the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c692f8a5-50b3-4358-801e-0672222d3d16\">uptick<\/a> in recent unemployment figures and a Capmas <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29a2685d-b303-414e-9f29-ae094144fb33\">survey<\/a> showing falling household income, saying that while the outlook for the economy is improving as covid-19 restrictions are lifted, policymakers need to \u201ctranslate\u201d these gains into an improved labor market. Elsewhere, the <a href=\"https:\/\/interactive.cfainstitute.org\/african-capital-markets\/EGYPT-156NO-999TG.html\">CFA Institute<\/a> looks at how ongoing economic and structural reforms have helped \u201csteady the nerves of foreign investors\u201d in Egypt\u2019s financial markets.<\/p>\n<p><strong>The fraught GERD negotiations are continuing to receive plenty of attention:<\/strong> <a href=\"https:\/\/www.ft.com\/content\/d64d1609-75b5-46f1-93f0-bd5049501665\">The<\/a><a href=\"https:\/\/www.ft.com\/content\/d64d1609-75b5-46f1-93f0-bd5049501665\">Financial Times<\/a> and <a href=\"https:\/\/www.thetimes.co.uk\/article\/showdown-on-the-nile-egypt-threatens-war-as-ethiopia-prepares-to-fill-its-new-dam-3hpqh69mq\">the Times<\/a> both take stock of recent events as Ethiopia prepares to fill the Nile dam amid deadlocked negotiations.<\/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\/economic-reform-program\/\">economic reform program<\/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\/investment-watch\/\">investment watch<\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572788\" 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=\"572788\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/\">\r\n                            Legal, technical sticking points persist on 5th day of GERD talks; Israel gets warning on West Bank annexation                        <\/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\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/\" 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\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/')\">\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\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/\">\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=Legal, technical sticking points persist on 5th day of GERD talks; Israel gets warning on West Bank annexation&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/\">\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\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/&title=Legal, technical sticking points persist on 5th day of GERD talks; Israel gets warning on West Bank annexation\">\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=Legal%2C+technical+sticking+points+persist+on+5th+day+of+GERD+talks%3B+Israel+gets+warning+on+West+Bank+annexation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F08%2Flegal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation%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\/07\/08\/legal-technical-sticking-points-persist-on-5th-day-of-gerd-talks-israel-gets-warning-on-west-bank-annexation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572788\" class=\"content-area-description single-story post-572788 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-france tag-gerd tag-germany tag-israel tag-jordan tag-palestine tag-politics tag-sudan 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>Day 5 of GERD talks finish with no breakthrough:<\/strong> Positions remained entrenched during the fifth day of high-stakes talks over the future of the Grand Ethiopian Renaissance Dam (GERD), with Egypt, Ethiopia and Sudan still unable to agree a framework for filling and operating the dam. Parallel meetings were held by the countries\u2019 legal and technical teams yesterday ahead of more bilateral talks to be held today, according to the <a href=\"https:\/\/bit.ly\/2ZcoYlP\">Egyptian Cabinet<\/a>.<\/p>\n<p><strong>Meanwhile, Ethiopian PM Abiy Ahmed is continuing to play hardball,<\/strong> telling <a href=\"https:\/\/www.alarabiya.net\/ar\/arab-and-world\/sudan\/2020\/07\/07\/%D8%B1%D8%A6%D9%8A%D8%B3-%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A7%D8%AB%D9%8A%D9%88%D8%A8%D9%8A%D8%A7-%D9%84%D9%86-%D9%86%D8%AD%D8%B1%D9%85-%D9%85%D8%B5%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%A7%D8%A1-%D9%88%D8%B3%D9%86%D8%AA%D9%88%D8%B5%D9%84-%D9%84%D8%A7%D8%AA%D9%81%D8%A7%D9%82.html\">Al Arabiya<\/a> that Ethiopia is set to begin filling the dam\u2019s reservoir to take advantage of the ongoing heavy rain season. Ahmed said that the move is not meant to hurt Egypt and Addis Ababa still intends to reach an agreement with downstream Cairo and Khartoum over the dam through the ongoing talks.<\/p>\n<p><strong>Egypt, France, Germany, and Jordan warn Israel on West Bank annexation:<\/strong> The foreign ministers of Egypt, France, Germany and Jordan have warned Israel that attempts to annex parts of the West Bank will harm diplomatic ties and have \u201cserious consequences\u201d for regional stability in a <a href=\"https:\/\/bit.ly\/31UB0Sy\">joint statement<\/a> published by the German Foreign Ministry. The four countries said that they will not recognize any changes to the 1967 borders and that unilateral moves would be a violation of international law.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">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\/ethiopia\/\">Ethiopia<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/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\/jordan\/\">Jordan<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572792\" 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=\"572792\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/08\/the-market-yesterday-124\/\">\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\/07\/08\/the-market-yesterday-124\/\" 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\/07\/08\/the-market-yesterday-124\/')\">\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\/07\/08\/the-market-yesterday-124\/\">\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\/07\/08\/the-market-yesterday-124\/\">\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\/07\/08\/the-market-yesterday-124\/&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%2F07%2F08%2Fthe-market-yesterday-124%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\/07\/08\/the-market-yesterday-124\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572792\" class=\"content-area-description single-story post-572792 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.99 | Sell 16.09<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.97 | Sell 16.07<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 16.01 | Sell 16.11<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 11,050 (-0.3%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.8 bn (111% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -20.9%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session down 0.3%. CIB, the index\u2019s heaviest constituent, ended down 0.5%. EGX30\u2019s top performing constituents were Sodic up 7.0%, Orascom Development up 3.5%, and Egyptian Resorts up 2.4%. Yesterday\u2019s worst performing stocks were Ezz Steel down 3.4%, TMG Holding down 2.4% and Porto Group down 2.4%. The market turnover was EGP 1.8 bn, and local investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -142.7 mn<br \/>\n <strong>Regional<\/strong>: Net short | EGP -3.7 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +146.4 mn<\/p>\n<p><strong>Retail<\/strong>: 47.6% of total trades | 46.9% of buyers | 48.4% of sellers<br \/>\n <strong>Institutions<\/strong>: 52.4% of total trades | 53.1% of buyers | 51.6% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 40.49 (-0.34%)<br \/>\n <strong>Brent:<\/strong> USD 42.93 (-0.39%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.88 MMBtu, (+2.73%, August 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,807.50 \/ troy ounce (+0.78%)<\/p>\n<p><strong>TASI:<\/strong> 7,400 (+0.13%) (YTD: -11.79%)<br \/>\n <strong>ADX:<\/strong> 4,341 (+0.52%) (YTD: -14.48%)<br \/>\n <strong>DFM:<\/strong> 2,097 (+0.50%) (YTD: -24.12%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,636 (+0.16%)<br \/>\n <strong>QE:<\/strong> 9,243 (+0.51%) (YTD: -11.33%)<br \/>\n <strong>MSM:<\/strong> 3,503 (-0.23%) (YTD: -12.01%)<br \/>\n <strong>BB: <\/strong>1,280 (+0.28%) (YTD: -20.64%)<\/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=\"572793\" 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\/07\/08\/572793\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572793\" class=\"content-area-description single-story post-572793 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>12 July (Sunday): Postponed court session for the <a href=\"https:\/\/alborsaanews.com\/2020\/07\/05\/1363442\">appeal<\/a> filed by the Egyptian Resorts against the Tourism Development Authority<\/p>\n<p>15 July (Wednesday): STC will reportedly announce at 5pm Riyadh time whether it intends to go through with its offer to acquire a controlling stake in Vodafone Egypt.<\/p>\n<p>23 July (Thursday): 23 July revolution anniversary, national holiday.<\/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>5 August (Wednesday): IHS Markit PMI for Egypt released.<\/p>\n<p>11-12 August (Tuesday-Wednesday): Senate elections take place.<\/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>8-9 September (Tuesday-Wednesday): Run-off Senate elections.<\/p>\n<p>15 September (Tuesday): 2019-2020 academic year ends for Egyptian universities.<\/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>6 October (Tuesday): Armed Forces Day.<\/p>\n<p>8 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>23-31 October (Friday-Saturday): Updated dates for <a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a>, El Gouna, Egypt.<\/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<p>25 January 2021 (Monday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>28 January 2021 (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>4 February 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>18 March 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>12 April 2021 (Monday): First day of Ramadan (TBC).<\/p>\n<p>25 April 2021 (Sunday): Sinai Liberation Day.<\/p>\n<p>29 April 2021 (Thursday): National holiday in observance of Sinai Liberation Day.<\/p>\n<p>29 April 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>3 May (Monday): Sham El Nessim.<\/p>\n<p>6 May (Thursday): National holiday in observance of Sham El Nessim.<\/p>\n<p>12-15 May (Wednesday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>10 June (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>22 July (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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":572767,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-572766","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3d675caa-29cb-4b42-9381-7772773f3faa","teaser":"","photo_url":"https:\/\/ent.news\/2020\/7\/45.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt was the top destination for FDI in MENA last year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-was-the-top-destination-for-fdi-in-mena-last-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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