{"id":572879,"date":"2020-07-13T04:24:17","date_gmt":"2020-07-13T04:24:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=572879"},"modified":"2025-12-16T08:49:35","modified_gmt":"2025-12-16T08:49:35","slug":"govt-unveils-package-of-measures-to-boost-consumer-spending","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-unveils-package-of-measures-to-boost-consumer-spending\/","title":{"rendered":"Gov\u2019t unveils package of measures to boost consumer spending"},"content":{"rendered":"<section id=\"572881\" 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=\"572881\">\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\/13\/what-were-tracking-on-13-july-2020\/\">\r\n                            What we\u2019re tracking on 13 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\/13\/what-were-tracking-on-13-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\/13\/what-were-tracking-on-13-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\/13\/what-were-tracking-on-13-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=What we\u2019re tracking on 13 July 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/what-were-tracking-on-13-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\/13\/what-were-tracking-on-13-july-2020\/&title=What we\u2019re tracking on 13 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=What+we%E2%80%99re+tracking+on+13+July+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F13%2Fwhat-were-tracking-on-13-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\/13\/what-were-tracking-on-13-july-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572881\" class=\"content-area-description single-story post-572881 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-agriculture tag-enterpriseam tag-film tag-food-and-beverage wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, friends. It\u2019s a busy news day<\/strong>, but there\u2019s no \u201cmajor\u201d story dominating the front pages as we slide toward the dog days of summer.<\/p>\n<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>SMART POLICY- If there\u2019s one thing that made us smile this morning<\/strong>, it is the Sisi administration\u2019s suggestion yesterday that a white cab-style vehicle replacement program may be in the works for passenger cars >20 years old. It\u2019s good news for the environment, potentially pulling the most inefficient and polluting gas burners off the road \u2014 and hopefully good for business, including local assemblers, distributors, banks and non-bank financial services outfits.<\/p>\n<p><strong>We did this before, and it worked: <\/strong>The white cab replacement program, announced in early 2009, saw the government give incentives to cabbies at the wheel of what were then some 70k black-and-whites. Vehicle owners could pick up a locally assembled white cab on a subsidized, no-interest payment plan if they scrapped cars that had been on the road more than 20 years. <strong>There was a movement afoot by early 2011 to expand the program to civilian vehicles<\/strong>, but that initiative died on the vine with the events subsequent to 25 January.<\/p>\n<p><strong>Taking thousands of beaters off the road was good for the environment: <\/strong>Government estimates in early 2011 suggested the program had contributed to a significant drop in the capital city\u2019s total carbon emissions in the first six months it was in place. A <a href=\"https:\/\/www.worldbank.org\/en\/news\/feature\/2018\/10\/25\/egypt-scrapping-and-recycling-old-vehicles-to-lower-pollution-and-improve-livelihoods\">World Bank feature on the program in 2018<\/a> suggested the program would prevent the release of more than 350k tons of carbon emissions by the end of that year. More than 45k cars have been scrapped under the program. <strong>Green bonds as a financing mechanism<\/strong>, anyone?<\/p>\n<p><strong>Last time, cabbies could only source finance from state-owned banks. <\/strong>We\u2019re hoping this time around the program will be expanded to include private-sector banks and NBFS players.<\/p>\n<p><strong>A companion program will offer no-interest financing <\/strong>to owners of cars less than 20-years old who want to convert their vehicles to run on natural gas. Conversions will cost EGP 8-12k per car, Trade and Industry Minister Nevine Gamea said yesterday. One question here: Can we build out CNG filling station infrastructure fast enough if the program takes off?<\/p>\n<p><strong>COVID-19 IN EGYPT-<\/strong><\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3075cak\">confirmed<\/a><\/strong><strong> 89 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 3,858. Egypt has now disclosed a total of 82,070 confirmed cases of covid-19, after the ministry reported <strong>912 new infections yesterday<\/strong>. We now have a total of 24,419 cases who have fully recovered.<\/p>\n<p><strong>Some 273 nurseries across 14 governorates have been cleared to resume working<\/strong> with new health and safety regulations, including operating at 50% student capacity, making available an isolation ward, temperature checks and sanitizing products, and banning guests, Social Solidarity Ministry spokesman Muhamed El Aqabi told the <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=12072020&id=4cd95e0c-ac34-4eb1-bde3-2ca362a238e9\">MENA news agency<\/a>.<\/p>\n<p><strong>New Dubai travel requirement:<\/strong> EgyptAir has <a href=\"https:\/\/bit.ly\/38MhdWP\">announced<\/a> that all travellers to Dubai will be required to present a negative PCR test from an approved lab before flying.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>ON THE GLOBAL FRONT-<\/strong><\/p>\n<p><strong>A tale of two states:<\/strong> Formerly the hotspot of the US coronavirus epidemic, New York City yesterday reported zero virus-related deaths for the first time since the pandemic first entered the state, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-12\/new-york-city-reaches-milestone-with-no-reported-virus-deaths?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p>\n<p><strong>But all is not well in Florida, which yesterday smashed the country\u2019s single-day record <\/strong><strong>for new cases:<\/strong> One of the new centers of the epidemic, the Sunshine State yesterday reported 15,299 new infections, the highest number of new daily cases in any state since the crisis began, <a href=\"https:\/\/edition.cnn.com\/2020\/07\/12\/health\/us-coronavirus-sunday\/index.html\">CNN<\/a> reports.<\/p>\n<p><strong>Covid has put a damper on the global coffee industry, which once relied on morning runs <\/strong><strong>and afternoon social breaks.<\/strong> With coffee shops closing down since the onset of the pandemic, global consumption of the beverage fell this year for the first time since 2011, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-11\/the-world-is-drinking-less-coffee-while-office-workers-stay-home\">Bloomberg<\/a>. Citigroup predicts that futures for Arabica beans could drop roughly 10% \u2014 nearing breakeven cost \u2014 in 2H2020, which would severely affect the 125 mn people who make a living from the crop.<\/p>\n<p><strong>GLOBAL MACRO-<\/strong><\/p>\n<p><strong>The worst is over for the oil market, but the demand slump is set to continue:<\/strong> Demand for oil will slowly recover through the second half of 2020 but will remain down by 5.1 mn bbl\/d, the <a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-july-2020\">International Energy Agency<\/a> said last week. This is roughly a 50% recovery from the nadir of oil shock, which saw demand collapse by 10.75 mn bbl\/d during the first half of the year.<\/p>\n<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\/SOMA-ENTERPRISE-JULY1-1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/a>Enjoy a memorable summer with Somabay\u2019s exclusive dining experience built around family atmosphere and love to deliver exceptional service at every step of your journey.<\/p>\n<p><strong>EGYPT BEYOND COVID- <\/strong><\/p>\n<p><strong>A new program will help small engineering outfits export: <\/strong>The <a href=\"https:\/\/np.eg\/en\/\">NilePreneurs<\/a> initiative is offering a new <a href=\"https:\/\/np.eg\/apply-now-export-promotion-program\/\">program to help SMEs in the engineering sector<\/a> develop, promote and export their products to global markets. The CBE-funded initiative will see the program managed by Nile University\u2019s Export Excellence Center and financed by Banque du Caire. Companies with three years\u2019 of experience in the field have until <a href=\"https:\/\/alborsaanews.com\/2020\/07\/11\/1365088\">20 July to apply<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/cairobookstop.wordpress.com\/publishing-houses\/dar-merit\/\">Merit Publishing House<\/a><\/strong><strong> owner Mohamed Hashem was arrested on Saturday on <\/strong><strong>charges of alleged [redacted] harassment<\/strong> of several women former employees, <a href=\"http:\/\/gate.ahram.org.eg\/News\/2437823.aspx\">Ahram Gate<\/a> reports. Hashem\u2019s arrest comes at a time where harassment is in the limelight following the case of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96d8f1da-d602-4781-a6a1-1e566b4c868f\">Ahmed Bassem Zaki<\/a>.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/Emirates-REIT-1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>AND THE REST OF THE WORLD- <\/strong><\/p>\n<p><strong>Nasdaq Dubai-listed <\/strong><strong>real estate investment trust <\/strong><strong><a href=\"https:\/\/www.reit.ae\/\">Emirates REIT<\/a><\/strong><strong> could be facing a <\/strong><strong>regulatory probe<\/strong> over its finances and valuations after a group of shareholders accused fund manager Equitativa of \u201cmisrepresenting\u201d its market value to investors, <a href=\"https:\/\/gulfnews.com\/business\/property\/group-of-shareholders-calls-for-investigation-into-emirates-reit-1.1594353990080\">Gulf News reports<\/a>. The shareholders are demanding a freeze on management fees from its non-performing assets pending a full investigation into the fund\u2019s operating expenses and property valuations, which they claim have been misrepresented to support the fund\u2019s \u201cexcessive\u201d fees.<\/p>\n<p><strong>The widening discount to net asset value has raised questions about the fund\u2019s <\/strong><strong>valuations<\/strong> as the covid-19 pandemic puts more pressure on the UAE\u2019s property market, already suffering an extended downturn. Shares in the Sharia-compliant asset manager are now trading at just USD 0.16 apiece, compared to the <a href=\"https:\/\/uk.reuters.com\/article\/emirates-reit-valuation\/dubai-real-estate-fund-says-irregular-trading-dented-share-price-idUKL4N2CS03J\">net asset value of USD 1.57<\/a> at the end of 2019. Equitativa CEO Sylvain Vieujot claimed in May that an \u201caggressive campaign of negative stories and false rumours\u201d was partly responsible for the low share price and said that the fund had reported the \u201cpotentially abusive market practices\u201d to the regulator. <strong>Fitch <\/strong><strong><a href=\"https:\/\/www.fitchratings.com\/research\/corporate-finance\/fitch-places-emirates-reit-bb-rating-on-negative-watch-02-07-2020\">placed<\/a><\/strong><strong> Reit\u2019s BB rating on negative watch earlier this month<\/strong>, citing \u201cuncertainty over its ability to increase occupancy and rent across its portfolio in current challenging economic conditions in Dubai.\u201d<\/p>\n<p><strong>Emirates REIT\u2019s USD 175 mn IPO in 2014 broke a five-year IPO dry spell <\/strong>for the emirate.<\/p>\n<p><strong>Meanwhile, the region\u2019s poster child for bad corporate behaviour is looking to <\/strong><strong>restructure<\/strong><strong>:<\/strong> Embattled healthcare provider NMC Healthcare is considering filing for restructuring and insolvency proceedings in the UAE, <a href=\"https:\/\/www.reuters.com\/article\/us-nmc-health-emirates-restructuring\/nmcs-uae-entity-weighing-abu-dhabi-option-for-restructuring-sources-idUSKCN24D0CX\">Reuters<\/a> reports, citing two people familiar with the matter. This comes three months after the company was forced into administration by a UK court at the behest of its creditors amid allegations that it had cooked its books.<\/p>\n<p><strong>Uber is serious about becoming a major player in home delivery<\/strong>: The soon-to-be completed acquisition of food delivery service Postmates and Latin American grocer Cornershop are moving Uber towards CEO Dara Khosrowshahi\u2019s vision of becoming \u201can everyday service,\u201d <a href=\"https:\/\/www.ft.com\/content\/0503496a-4cbc-44f1-b46c-5c268e401834\">the FT<\/a> says.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p>\n<p><strong>In today\u2019s issue: <\/strong>We revisit some of the Higher Education Ministry\u2019s top policies for this year \u2014 namely the International Branch Campus program and the UCAS-style enrollment system \u2014 and explore how the covid-19 pandemic has impacted their implementation.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"572883\">\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\/07\/13\/new-social-housing-project-car-replacement-initiative-top-stories-on-talk-shows\/\">\r\n                            New social housing project, car replacement initiative top stories on talk shows                        <\/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\" 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<li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/new-social-housing-project-car-replacement-initiative-top-stories-on-talk-shows\/&title=New social housing project, car replacement initiative top stories on talk shows\">\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=New+social+housing+project%2C+car+replacement+initiative+top+stories+on+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F13%2Fnew-social-housing-project-car-replacement-initiative-top-stories-on-talk-shows%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" 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housing project, state budget get attention on the airwaves last night: <\/strong>Al Kahera Alaan\u2019s Lamees El Hadidi spoke with Housing Minister Assem El Gazzar, who discussed the Asmarat 3 social housing project, one of several projects inaugurated yesterday by President Abdel Fattah El Sisi. El Gazzar said that people will be able to pay for housing in installments over 20 years at an 8% interest rate. He said that 410k of the 610k homes in the project have been completed. Would-be residents can apply for housing at the project online <a href=\"https:\/\/www.youtube.com\/watch?v=SyT7i7jDGBM&t=68s\">(watch, runtime: 22:19)<\/a>. El Hekaya\u2019s Amr Adib spoke with the Prime Minister\u2019s media adviser Hani Younis <a href=\"https:\/\/www.youtube.com\/watch?v=R9efwEmkxBY\">(watch, runtime: 4:00)<\/a> and Tahya Misr spokesperson Mohamed Mukhtar about the project <a href=\"https:\/\/www.youtube.com\/watch?v=9tFJ7F25oPQ\">(watch, runtime: 3:03)<\/a>. Ala Mas\u2019ouleety\u2019s Ahmed Moussa also spoke with El Gazzar <a href=\"https:\/\/www.youtube.com\/watch?v=A50G2JrHRO8\">(watch, runtime: 38:19)<\/a> about the project.<\/p>\n<p><strong>Masaa DMC\u2019s Eman El Hosary spoke with Finance Minister Mohamed Maait<\/strong> to discuss the state budget for FY2020-2021. Maait said that the budget is an ambitious one targeting high growth rates and large investments in multiple sectors, especially health and water resources. <strong>Maait played up the state\u2019s support of the average citizen<\/strong>, saying that despite the covid-19 crisis, the government was able to provide ample supplies of basic goods and medicines, in addition to a number of initiatives including the EGP 500 monthly stipend for day laborers. Funding for pensions will come in at EGP 170 bn in the new budget, up from EGP 160 last year. The allocation for public sector salaries is EGP 335 bn, up from EGP 301 bn from 2019-2020. Maait also discussed the USD 8 bn in funds secured from the IMF <a href=\"https:\/\/www.youtube.com\/watch?v=ue_gIrkwqaQ\">(watch, runtime: 29:07)<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nevine-gamea\/\">Nevine Gamea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget-fy2020-2021\/\">state budget FY2020-2021<\/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=\"572884\" 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=\"572884\">\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\/13\/govt-unveils-package-of-measures-to-boost-consumer-spending\/\">\r\n                            Gov\u2019t unveils package of measures to boost consumer spending                        <\/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\/13\/govt-unveils-package-of-measures-to-boost-consumer-spending\/\" 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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Speaking at a ceremony to inaugurate a number of national projects, the minister said that the Madbouly government has made agreements with manufacturers and merchants to offer average discounts of up to 20% on consumer goods, with ration card holders able to receive an additional 10% off select products.<\/p>\n<p><strong>The government is yet to provide details <\/strong>on how it is negotiating discounts with businesses, how much it plans to spend on the initiative, and what types of goods or services may be part of the program.<\/p>\n<p><strong>The initiative will be launched in the final week of July<\/strong>, according to the <a href=\"http:\/\/gate.ahram.org.eg\/News\/2438221.aspx\">Federation of<\/a><a href=\"http:\/\/gate.ahram.org.eg\/News\/2438221.aspx\">Egyptian Industries<\/a>.<\/p>\n<p><strong>New fund to guarantee consumer loans, mortgages:<\/strong> The government will backstop up to EGP 2 bn in loans in an effort to stimulate lending and support consumer spending amid a slump in demand caused by the covid-19 pandemic, Finance Minister Mohamed Maait <a href=\"https:\/\/ent.news\/2020\/7\/%D9%85%D9%83%D8%AA%D8%A8-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1.pdf\">announced yesterday (pdf)<\/a>. The government will set aside EGP 2 bn from the public purse in a dedicated holding fund that would guarantee mortgages and consumer loans made by banks and consumer finance companies, the minister said.<\/p>\n<p><strong>More loan guarantees in the offing?<\/strong> <a href=\"https:\/\/bit.ly\/3enynek\">Maait said<\/a> on the sidelines of the event that the government will set up a number of \u201cspecialized arms\u201d of the fund at some point in the future. He did not specify what sectors or product categories the sub-funds would cover.<\/p>\n<p><strong>The fund will also be deployed to provide low-cost financing for government projects <\/strong><strong>such as the installation of dual-fuel engines into cars:<\/strong> President Abdel Fattah El Sisi said yesterday that he plans to introduce a new policy that would require citizens to outfit any new cars they purchase with a dual-fuel natgas \/ gasoline systems as a condition of licensing. Speaking at the inauguration, the president said that the shift to dual-fuel engines would both be more economical for consumers and would be a key step towards protecting the environment (<a href=\"https:\/\/www.youtube.com\/watch?v=HSdhgtWhGnU\">watch, runtime: 17:20<\/a>). <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-12\/egypt-to-require-new-vehicles-to-run-on-natural-gas-sisi-says?sref=mmeFTDW1\">Bloomberg<\/a> also has the story.<\/p>\n<p><strong>Citizens will be able to trade in old cars for new, dual-fuel vehicles: <\/strong>People with cars that are over 20 years\u2019 old will be able to apply for a low-interest car loan through the MSME Development Agency to obtain a new, dual-fuel car, turning in their existing vehicle as a deposit, Trade Minister Nevine Gamea told Al Kahera Alaan\u2019s Lamees El Hadidi last night <a href=\"https:\/\/www.youtube.com\/watch?v=tcCOkE1pX9Q&t=206s\">(watch, runtime: 11:05)<\/a>.<\/p>\n<p><strong>Background:<\/strong> The Sisi administration has for years been offering incentives for car owners to switch to dual-fuel engines, including providing subsidies for the cost of conversion and encouraging banks to offer low-interest loans for this purpose. Last year, the Oil Ministry said the government planned to have at least 50k car owners convert their vehicles to run on natural gas by the end of 2019 by installing the dual-fuel engines. Under the same plan, the ministry said more refueling stations would be built across the country. Some 33k vehicles in Egypt converted to natural gas in 2018. According to the president, the cost of converting 1 mn vehicles to dual-fuel engines hovers around EGP 8 bn.<\/p>\n<p><strong>Also from yesterday\u2019s ceremony: G<\/strong><strong>ov\u2019t spending on healthcare since March hits EGP 10 <\/strong><strong>bn<\/strong><strong>:<\/strong> The government has allocated EGP 10 bn to the Health Ministry and the healthcare sector since the covid-19 outbreak started in March, Prime Minister Moustafa Madbouly said yesterday. It\u2019s unclear if this is part of an EGP 11 bn that we noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6613be6-37d0-45fb-88db-887bc0feca4f\">last month<\/a> were taken out of the EGP 100 bn emergency stimulus package to set up quarantine wards and provide medicine, supplies, and bonuses to medical staff. The extra allocation follows a directive from El Sisi which also instructed authorities to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d10037cb-70f9-4c50-a8b1-4554683b941a\">raise the salaries<\/a> of state-employed healthcare workers, Madbouly said in <a href=\"https:\/\/bit.ly\/2ZmbG6f\">a statement<\/a>. The FY2020-2021 state budget <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c32fb402-6fd8-4247-8446-2bf005b1b257\">has earmarked<\/a> EGP 258.5 bn for health spending, which meets the constitutionally required minimum quota.<\/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\/automotive\/\">automotive<\/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\/consumer-finance\/\">consumer finance<\/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\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572898\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572899\" 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=\"572899\">\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\/13\/egypt-in-the-news-on-13-july-2020\/\">\r\n                            Egypt in the News on 13 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\/13\/egypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-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 13 July 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/egypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-july-2020\/&title=Egypt in the News on 13 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+13+July+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F13%2Fegypt-in-the-news-on-13-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\/13\/egypt-in-the-news-on-13-july-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572899\" class=\"content-area-description single-story post-572899 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-media wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s crickets in the pages of the international press this morning. <\/strong>Nothing to see here. Move along, move along.<\/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\/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\/media\/\">media<\/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=\"572900\" 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=\"572900\">\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\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/\">\r\n                            No breakthrough on 10th day of GERD talks                        <\/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\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/\" 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\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/')\">\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\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/\">\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=No breakthrough on 10th day of GERD talks&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/\">\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\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/&title=No breakthrough on 10th day of GERD talks\">\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=No+breakthrough+on+10th+day+of+GERD+talks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F13%2Fno-breakthrough-on-10th-day-of-gerd-talks%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\/13\/no-breakthrough-on-10th-day-of-gerd-talks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572900\" class=\"content-area-description single-story post-572900 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-african-union tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-gerd tag-south-africa tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Groundhog day at the GERD talks:<\/strong> Fraught talks over the future of the Grand Ethiopian Renaissance Dam remained at a standstill yesterday after the Egyptian, Ethipian and Sudanese negotiating teams failed to find a breakthrough, the cabinet said in a <a href=\"https:\/\/bit.ly\/30hAQST\">statement<\/a>. The talks will resume today ahead of a final ministerial-level meeting whose conclusions will be submitted to South Africa, the current head of the African Union and sponsor of the latest round of talks.<\/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\/african-union\/\">African Union<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-africa\/\">South Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"572904\" 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=\"572904\">\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\/13\/the-market-yesterday-127\/\">\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\/13\/the-market-yesterday-127\/\" 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\/13\/the-market-yesterday-127\/')\">\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\/13\/the-market-yesterday-127\/\">\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\/13\/the-market-yesterday-127\/\">\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\/13\/the-market-yesterday-127\/&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%2F13%2Fthe-market-yesterday-127%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\/13\/the-market-yesterday-127\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572904\" class=\"content-area-description single-story post-572904 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 15.92 | Sell 16.02<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.91 | Sell 16.01<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.94 | Sell 16.04<\/p>\n<p><strong>EGX30<\/strong> (Sunday): 11,072 (+1.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 946 mn (8% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -20.7%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session up 1.1%. CIB, the index\u2019s heaviest constituent, ended up 0.5%. EGX30\u2019s top performing constituents were Palm Hills up 8.1%, Ezz Steel up 4.5%, and Orascom Development up 3.9%. Yesterday\u2019s worst performing stock was Telecom Egypt down 1.1%. The market turnover was EGP 946 mn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -48.5 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +12.6 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +35.9 mn<\/p>\n<p><strong>Retail<\/strong>: 82.4% of total trades | 82.0% of buyers | 82.7% of sellers<br \/>\n <strong>Institutions<\/strong>: 17.6% of total trades | 18.0% of buyers | 17.3% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 40.55 (+2.35%)<\/p>\n<p><strong>Brent:<\/strong> USD 43.24 (+2.10%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 1.81 MMBtu, (+1.46%, August contract)<\/p>\n<p><strong>Gold:<\/strong> USD 1,801.90 \/ troy ounce (-0.11%)<\/p>\n<p><strong>TASI:<\/strong> 7,431 (+0.20%) (YTD: -11.42%)<br \/>\n <strong>ADX:<\/strong> 4,316 (+0.48%) (YTD: -14.97%)<br \/>\n <strong>DFM:<\/strong> 2,085 (+0.18%) (YTD: -24.56%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,636 (+0.57%)<br \/>\n <strong>QE:<\/strong> 9,337 (+0.22%) (YTD: -10.44%)<br \/>\n <strong>MSM:<\/strong> 3,503 (+0.28%) (YTD: -11.99%)<br \/>\n <strong>BB: <\/strong>1,313 (+2.11%) (YTD: -18.42%)<\/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=\"572905\" 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\/13\/572905\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572905\" class=\"content-area-description single-story post-572905 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>14 July (Tuesday): <a href=\"https:\/\/ent.news\/2020\/7\/image001.jpg\">Egyptian Private Equity Association webinar<\/a> on the post-corona economy.<\/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): <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":572880,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-572879","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"170fc2ad-314e-453c-8251-df662a90f5d7","teaser":"","photo_url":"https:\/\/ent.news\/2020\/7\/86.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>Gov\u2019t unveils package of measures to boost consumer spending - 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\/govt-unveils-package-of-measures-to-boost-consumer-spending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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