{"id":572961,"date":"2020-07-15T04:00:28","date_gmt":"2020-07-15T04:00:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=572961"},"modified":"2025-12-16T08:52:14","modified_gmt":"2025-12-16T08:52:14","slug":"its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/","title":{"rendered":"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch"},"content":{"rendered":"<section id=\"572963\" 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=\"572963\">\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\/15\/what-were-tracking-on-15-july-2020\/\">\r\n                            What we\u2019re tracking on 15 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\/15\/what-were-tracking-on-15-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\/15\/what-were-tracking-on-15-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\/15\/what-were-tracking-on-15-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 15 July 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/what-were-tracking-on-15-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\/15\/what-were-tracking-on-15-july-2020\/&title=What we\u2019re tracking on 15 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+15+July+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F15%2Fwhat-were-tracking-on-15-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\/15\/what-were-tracking-on-15-july-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572963\" class=\"content-area-description single-story post-572963 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-agriculture tag-british-airways tag-capital-markets tag-consumer-finance tag-debt tag-dubai tag-economy tag-egyptair tag-enterpriseam tag-finance tag-policy tag-saudi-arabia tag-technology tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends<\/strong>, and welcome to the day we here like to think of as almost-THURSDAY. Three-day weekends are supplanting summer vacation for many of you, so how about we start this morning with a handful of stories to feed your soul as you look forward to unplugging for three days.<\/p><p><strong>But first: Were you freaked out about the US government\u2019s plan to pull the visas of <\/strong><strong>foreign students <\/strong>who are being forced to take most of their courses online this fall? Whether you or your spawn were impacted, take a deep breath: The Trump administration backed down yesterday \u2014 for the moment. The requirement that foreign students take at least one in-person class (or leave the country \/ transfer schools) has been dropped, according to the judge hearing a case brought against the government by Harvard, MIT and other top-flight universities.<\/p><p><strong>The problem is that it ain\u2019t over until it\u2019s over<\/strong>, as Yogi Berra (not Lenny Kravitz) said back in 1973. The presiding judge said the case isn\u2019t yet closed, and at least one pundit is warning that US Immigration and Customs Enforcement is probably looking for other ways to deliver the same result. Start with this piece from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-14\/harvard-and-u-s-make-deal-on-foreign-student-visas?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> (which takes a more pessimistic look), then flip over to the <a href=\"https:\/\/www.nytimes.com\/2020\/07\/14\/us\/coronavirus-international-foreign-student-visas.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage\">New York Times<\/a> for more.<\/p><p><strong>Remember that piece we suggested you read yesterday about <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/the-case-for-a-midlife-8216gap8217-year-1386349833\">midlife gap years<\/a><\/strong><strong>? <\/strong>The notion started with college-aged kids\u2026<\/p><p><strong>Back to that long weekend. <\/strong>We\u2019re not suggesting you go hang out in a restaurant \u2014 but placing an order for takeout from your favourite local joint is not a bad idea. Restauranteurs have been hammered the past four months, and it\u2019s time folks started offering them support in between all of the baking of sourdough bread and finding of ways to stuff cake inside \u2026 stuff. <strong><a href=\"https:\/\/www.nytimes.com\/2013\/09\/18\/dining\/frank-bruni-former-restaurant-critic-on-the-joys-of-repeat-visits.html\">You\u2019re a regular somewhere, right?<\/a><\/strong><\/p><p><strong>Takeout in hand, head over to Billboard and remember that \u201c<\/strong><strong><a href=\"https:\/\/www.abc.net.au\/news\/2020-04-29\/coronavirus-history-music-helps-in-times-of-crisis\/12175952\">music can help get us<\/a><\/strong><strong><a href=\"https:\/\/www.abc.net.au\/news\/2020-04-29\/coronavirus-history-music-helps-in-times-of-crisis\/12175952\">through some of the toughest moments in our lives<\/a><\/strong><strong>.\u201d <\/strong>Bands, orchestras and solo performers love recording albums \u2014 but they make their real money in live performances, which aren\u2019t exactly on the menu at the moment. Some are streaming entire historic concerts online without charge (think: <a href=\"https:\/\/www.youtube.com\/playlist?list=PLJvQXRgtxlukIkmzucaV3rSFgYYdTr85A\">Metallica Mondays<\/a> and <a href=\"https:\/\/www.youtube.com\/playlist?list=PL0SqtI95X6o1UTWsEHh4GiMu_N1II1n3c\">Pink Floyd on Fridays<\/a>), while everyone from the LA Philharmonic to Pink Sweat$ via Pearl Jam, Ice-T, Lil Wayne and Chuck D are doing at-home performances. <a href=\"https:\/\/www.billboard.com\/articles\/columns\/pop\/9335531\/coronavirus-quarantine-music-events-online-streams\">Billboard has an exhaustive list of which of your favourite artists has (or will) live stream or release something awesome from their archive<\/a>.<\/p><p><strong>Settled into your favourite slot on the beach, with a full tummy and happy ears? <\/strong>Now start educating yourself about <a href=\"https:\/\/www.ft.com\/content\/25e1fc74-7fdf-11ea-8fdb-7ec06edeef84\">how contemporary art is changing in the of covid<\/a>. Perhaps especially in times like this, \u201cart can set you free,\u201d <a href=\"https:\/\/theconversation.com\/the-importance-of-art-in-the-time-of-coronavirus-135225\">The Conversation<\/a> reminds us. One of our favourites right now: <strong>Up and coming <\/strong><strong>Egyptian artist <\/strong><strong><a href=\"https:\/\/www.arts-mart.com\/author\/alaa-abul-hamd\/\">Alaa Abul Hamd<\/a><\/strong>, who draws inspiration from ancient Egyptian art without being hackneyed \u2014 or \u201cobnoxiously orientalist,\u201d as one of us recently remarked on our internal chat system. Abul Hamd is a native of Upper Egypt and professor in Luxor whose \u201csubjects are recognizable by their strikingly Egyptian features, stillness, strength, proud postures, and silence.\u201d<\/p><p><strong>Go explore him via <\/strong><strong><a href=\"https:\/\/www.arts-mart.com\/product-artists\/alaa-abul-hamd\/\">our friends at Cairo gallery TAM<\/a><\/strong> \u2014 or look at this <a href=\"https:\/\/www.cibeg.com\/English\/InvestorRelations\/FinancialInformation\/Annual%20Reports\/Annual%20Report%202011.pdf\">awesome annual<\/a><a href=\"https:\/\/www.cibeg.com\/English\/InvestorRelations\/FinancialInformation\/Annual%20Reports\/Annual%20Report%202011.pdf\">report we built for CIB back in 2011<\/a> that stands as a shining example of how your company can support the arts while buffing your bottom line. (TAM, by the way, made an appearance in <a href=\"https:\/\/enterprise.press\/podcast#88013\">season one of our podcast, Making It<\/a>.)<\/p><p><strong>REMINDER- We have a holiday long weekend next week<\/strong> as Thursday will be off in observance of the 23 July Revolution thanks to cabinet\u2019s new policy of making Thursdays substitutes for midweek holidays. We\u2019ll all be off again at the end of the following week for Eid Al Adha.<\/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\/3h3zIbV\">confirmed<\/a><\/strong><strong> 73 new deaths from covid-19 yesterday<\/strong>, bringing the country\u2019s total death toll to 4,008. Egypt has now disclosed a total of 83,930 confirmed cases of covid-19, after the ministry reported <strong>929 new infections yesterday<\/strong>. We now have a total of 25,544 cases who have fully recovered.<\/p><p><strong>The occupancy rates of quarantine facilities and ICU beds for covid-19 cases <\/strong><strong>have both dropped to 60%<\/strong>, <a href=\"https:\/\/bit.ly\/2OmXRy7\">Health Ministry adviser Sherif Wadie<\/a> said on Tuesday. Some 200 people are currently in intensive care while 111 patients are on ventilators, he said.<\/p><p><strong>British Airways may resume regular flights to Egypt from the beginning of <\/strong><strong>September,<\/strong> <a href=\"https:\/\/bit.ly\/3j2QBWe\">Youm7<\/a> reports, citing unnamed sources at Cairo International Airport. The carrier has been operating a limited number of flights between the UK and Cairo since Egypt reopened its airspace to international flights at the beginning of the month.<\/p><p><strong>EgyptAir is still waiting on that EGP 3 bn loan:<\/strong> National flag carrier EgyptAir has yet to receive approval from the Finance Ministry for a credit guarantee that would allow it to draw down a EGP 3 bn loan from state-owned National Bank of Egypt, <a href=\"https:\/\/alborsaanews.com\/2020\/07\/14\/1366256\">said Mohamed Roshdy Zakaria<\/a>, the holding company\u2019s chairman. The airline said in June it\u2019s seeking the loan after having fallen into the red since the suspension of flights in March.<\/p><p><strong><a href=\"https:\/\/bit.ly\/3h30VvF\">EgyptAir<\/a><\/strong><strong> is notifying people travelling to Sharjah that they must have a PCR test <\/strong><strong>certificate<\/strong> that shows they\u2019ve been tested for covid-19 prior to departure.<\/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\/SOMA-ENTERPRISE-JULY1-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>ON THE GLOBAL FRONT-<\/strong><\/p><p><strong>Another hurdle cleared in the quest for a covid-19 vaccine:<\/strong> A vaccination for the novel coronavirus being developed by US pharma company Moderna has cleared an important hurdle after it succeeded in producing antibodies in all <a href=\"https:\/\/apnews.com\/76b614811eef32955180c8260188bc24\">45 volunteers<\/a> during safety trials, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-14\/moderna-vaccine-produced-antibodies-in-all-patients-tested?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. The catch? A number of patients experienced sometimes severe side effects from the vaccine. Moderna will move to large-scale testing later this month.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/EM-currencies-web.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>GLOBAL MACRO-<\/strong><\/p><p><strong>Indonesia is dramatically widening the <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2019\/02\/26\/us\/politics\/overton-window-democrats.html\">Overton Window<\/a><\/strong><strong> of what constitutes<\/strong> <strong>sensible monetary policy:<\/strong> The country\u2019s central bank will start directly monetizing government debt when it soon purchases USD 40 bn in sovereign bonds, most of them directly from the state, <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2020-07-09\/indonesia-s-debt-monetization-sets-a-model-for-emerging-markets?sref=mmeFTDW1\">Bloomberg<\/a> reports. Direct monetization has long been taboo due to fears of out-of-control inflation caused by accelerated state spending, and a perceived threat to the independence of monetary policymakers.<\/p><p>In a sign of how topsy-turvy the world has become, <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-27\/debt-monetization-creeps-closer-in-asia-reshaping-bond-markets?sref=mmeFTDW1\">investors have welcomed the move<\/a><\/strong><strong>, anxious for aggressive measures to stabilize the economy.<\/strong> The bank\u2019s governor has also sought to calm nerves about the policy, assuring that it would stop purchases if inflation began to surge.<\/p><p><strong>And other emerging markets may soon follow if Indonesia doesn\u2019t get burned.<\/strong> The business information service suggests that the Indian, Malaysian and Philippines central banks may be tempted to purchase government debt directly from the primary market, should Indonesia come out the other side intact.<\/p><p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>If the exhilaration in the global stock markets has convinced you that it\u2019s time to<\/strong> <strong>start partying like it\u2019s January 2020, Mohamed El Erian is here to bring the sober analysis.<\/strong> \u201cThe financial stress caused by covid-19 is far from over,\u201d reads the first sentence of El Erian\u2019s latest opinion piece in <a href=\"https:\/\/www.ft.com\/content\/fcfa2827-35c7-47fb-b5c1-c97f8c841a56\">the Financial Times<\/a>, in which he warns us to prepare for non-payments to surge even among corporates and sovereigns with decent credit ratings. Investors, who are currently buying into a liquidity-fuelled rally producing valuations \u201cstunningly decoupled\u201d from the fundamentals, need to become more circumspect and pay attention to the signs of trouble ahead: record corporate bankruptcies, job cuts in large companies, delays in household and commercial rent payments, and a number of developing countries delaying debt payments.<\/p><p><strong>US banks are preparing for the flood:<\/strong> The three biggest US banks put aside USD 28 bn in 2Q2020 to cover losses on personal and business loans in anticipation of a coming wave of defaults. This is a serious step up from the loan loss provisions made in the first quarter, demonstrating how thinking has changed about the longevity and severity of the economic crisis caused by the pandemic. Jamie Dimon, CEO of JPMorgan which has earmarked a record USD 10.5 bn to cover loan losses, said that the bank was \u201cprepared for the worst-case scenario\" and warned that things would likely get worse in the coming months. \u201cThis is not a normal recession \u2026 The recessionary part of this you\u2019re going to see down the road.\u201d <a href=\"https:\/\/www.wsj.com\/articles\/this-is-not-a-normal-recession-banks-ready-for-wave-of-coronavirus-defaults-11594746008?mod=hp_lead_pos1\">The Wall Street Journal<\/a> and <a href=\"https:\/\/www.ft.com\/content\/f1bbaf65-7cb7-4855-ba7f-d9bda5f4b053\">the Financial Times<\/a> have the story.<\/p><p><strong>AND THE REST OF THE WORLD- <\/strong><\/p><p><strong>Derivatives trading is coming to Saudi Arabia:<\/strong> The Saudi stock exchange will allow futures trading starting 31 August, it said in <a href=\"https:\/\/www.tadawul.com.sa\/wps\/portal\/tadawul\/home\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8zijYycLQwtTQx83D39zA0cAx09wtzCQowNDEz1w_Wj9KPwKTGBKjDAARwN9AuyswMBEuKIug!!\/?1dmy&amp;urile=wcm:path:\/Tadawul_en\/SA-Tadawul\/SA-PricesAndIndeces\/SA-News\/SA-MarketNews\/CT-marketnews-20200714_Der\">a statement<\/a>. The country\u2019s first exchange-traded derivative contract \u2014 the Saudi Futures 30 (SF30) \u2014 will track the country\u2019s MSCI Tadawul 30 Index.<\/p><p><strong>We were supposed to be launching <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/derivatives-trading-and-egypts-first-futures-exchange-are-coming-next-year-farid\/\">derivatives trading and a futures exchange<\/a><\/strong><strong> here in Egypt <\/strong><strong>during the first half of this year.<\/strong> We haven\u2019t received any explanations for the delay, but we wouldn\u2019t be surprised if something beginning with \u2018C\u2019 and ending in \u2018ovid-19\u2019 played a part.<\/p><p><strong>The UK government decided yesterday to ban all new purchases of equipment <\/strong><strong>from Chinese telecom giant Huawei<\/strong> and require mobile operators to remove its technology from the UK's 5G infrastructure by 2027, <a href=\"https:\/\/www.bbc.co.uk\/news\/technology-53403793\">the BBC<\/a> reports. The announcement came after diplomatic pressure by the US to abandon cooperation with the now-sanctioned company and following British intelligence recommendations that could not verify the security of the company\u2019s 5G technology.<\/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> Egypt holds a unique position as far as global internet infrastructure is concerned. With 17 cables passing through the country, Egypt is second only to the US in terms of the number of submarine cables in its territory. But despite this, Egypt doesn\u2019t rank among the strongest regional countries in terms of its internet speeds and cost effectiveness, due to our domestic infrastructure needing improvement. The answer? Open up domestic IT infrastructure development to the private sector, insiders and former officials tell us.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/british-airways\/\">British Airways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/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\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"572964\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-pr9v0xm\" data-v=\"4\" data-block-id=\"pr9v0xm\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-pr9v0xm-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-pr9v0xm-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-i0q2sg9\" data-v=\"4\" data-block-id=\"i0q2sg9\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-i0q2sg9-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-i0q2sg9-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-y5nko1p\" data-v=\"4\" data-block-id=\"y5nko1p\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-y5nko1p-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-y5nko1p-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-2pj5q3c\" data-v=\"4\" data-block-id=\"2pj5q3c\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2pj5q3c-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2pj5q3c-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572965\" 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=\"572965\">\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\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/\">\r\n                            Pipeline accident, Egyptian military intervention in Libya 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\" 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\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/\" 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\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/')\">\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\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/\">\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=Pipeline accident, Egyptian military intervention in Libya top stories on talk shows&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/\">\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\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/&title=Pipeline accident, Egyptian military intervention in Libya 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=Pipeline+accident%2C+Egyptian+military+intervention+in+Libya+top+stories+on+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F15%2Fpipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows%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\/15\/pipeline-accident-egyptian-military-intervention-in-libya-top-stories-on-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572965\" class=\"content-area-description single-story post-572965 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-libya tag-oil-ministry tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a mixed bag on the airwaves last night<\/strong>: Yesterday\u2019s pipeline explosion understandably attracted the most attention, but we were also handed an interview with the International Labor Organization\u2019s Cairo boss as well as the coverage of the latest goings on at the GERD negotiations.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>No fatalities as pipeline explosion on Cairo-Ismailia road injures 17: <\/strong>Masaa DMC\u2019s Ramy Radwan spoke with Health Ministry spokesman Khaled Megahed who discussed the incident in which the Shokeir-Mostorod oil pipeline caught fire near the Cairo-Ismailia road. He said some 17 people were injured but there were no fatalities <a href=\"https:\/\/www.youtube.com\/watch?v=0XXkORank0Y\">(watch, runtime: 4:18)<\/a>. Oil Ministry spokesperson Hamdi Abdulaziz told Radwan that the accident was caused by a leak in the pipeline, and that a spark on the road caused the fire. He added that the fire services were able to swiftly extinguish the flames <a href=\"https:\/\/www.youtube.com\/watch?v=c6EWGtQC2rw\">(watch, runtime: 8:09)<\/a>. Ala Mas\u2019ouleety\u2019s Ahmed Moussa spoke with the Public Prosecutor\u2019s office regarding the incident, which said that an investigation had been launched, and the injured at the hospital were being questioned <a href=\"https:\/\/www.youtube.com\/watch?v=d3NhCvJLMMs\">(watch, runtime: 2:53)<\/a>. Yahduth Fi Misr\u2019s Sherif Amer also covered the accident <a href=\"https:\/\/www.youtube.com\/watch?v=y0WoDMYVUi4\">(watch, runtime: 6:19)<\/a>, <a href=\"https:\/\/www.youtube.com\/watch?v=xIK10QkM0VM\">(watch, runtime: 5:29)<\/a>.<\/p>\n<p><strong>The story is getting plenty of attention in the international press:<\/strong> <a href=\"https:\/\/apnews.com\/5162fd5fac818aae88c2e9fbdcfec409\">Associated Press<\/a> | <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N2EL5O3\">Reuters<\/a> | <a href=\"http:\/\/www.xinhuanet.com\/english\/2020-07\/15\/c_139212669.htm\">XInhua<\/a> | <a href=\"https:\/\/www.arabnews.com\/node\/1704766\/middle-east\">Arab News<\/a> | <a href=\"https:\/\/gulfnews.com\/world\/mena\/huge-fire-hits-oil-pipeline-near-cairo-1.1594746382158\">Gulf News<\/a>.<\/p>\n<p><strong>Call for Egyptian military intervention in Libya receives support: <\/strong>Radwan spoke with Khaled Al Mahjoub, the spokesman for Tripoli operations room of the Libyan National Army (LNA), who denied Turkish claims that there is a significant battle brewing in the town of Sirte. He accused Ankara of misinformation and said that there were no boots on the ground near the strategic town. Al Mahjoub welcomed the Tobruk-based House of Representatives\u2019 call for Egyptian military intervention <a href=\"https:\/\/www.youtube.com\/watch?v=7QXoCLRLrY8\">(watch, runtime: 8:05)<\/a>. Ala Mas\u2019ouleety\u2019s Ahmed Moussa spoke with Abd Elhamid Safi, an adviser at the Libyan parliament, who also said he welcomed the invitation for Egypt to intervene in the conflict <a href=\"https:\/\/www.youtube.com\/watch?v=vCrpFCs_WhU\">(watch, runtime: 4:21)<\/a>.<\/p>\n<p><strong>ILO on covid-19 in Egypt: <\/strong>Amer spoke with Eric Oechslin, director of the International Labor Organization\u2019s Cairo branch, who discussed the impact of covid-19 on employment. Oechslin said that covid-19 has pummelled labor markets in African and Arab countries, and that the organization has no idea when and how the crisis will end. He lauded Egypt for taking early measures to mitigate the impact of the outbreak on the country\u2019s labor market and to support the private sector. He said that the organization is working closely with the government and private sector to ensure safety and security for workers. Oechslin also discussed the Women National Council's work with the United Nations Women Program to provide employment and training opportunities for women across Giza, Siwa, and Alexandria, as well as raise awareness about gendered violence <a href=\"https:\/\/www.youtube.com\/watch?v=7RvJw_0NM8o&t=53s\">(watch, runtime: 5:45)<\/a>, <a href=\"https:\/\/www.youtube.com\/watch?v=HEmCx9pK5rk\">(watch, runtime: 3:23)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572966\" 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=\"572966\">\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\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/\">\r\n                            Egyptian banks\u2019 FX liquidity \u201cstill vulnerable\u201d as recovery from covid-19 sell-off will take longer than 2018 EM Zombie Apocalypse -Fitch                        <\/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\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/\" 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\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/')\">\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\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/\">\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=Egyptian banks\u2019 FX liquidity \u201cstill vulnerable\u201d as recovery from covid-19 sell-off will take longer than 2018 EM Zombie Apocalypse -Fitch&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/\">\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\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/&title=Egyptian banks\u2019 FX liquidity \u201cstill vulnerable\u201d as recovery from covid-19 sell-off will take longer than 2018 EM Zombie Apocalypse -Fitch\">\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=Egyptian+banks%E2%80%99+FX+liquidity+%E2%80%9Cstill+vulnerable%E2%80%9D+as+recovery+from+covid-19+sell-off+will+take+longer+than+2018+EM+Zombie+Apocalypse+-Fitch+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F15%2Fegyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch%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\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/112.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572967\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/egyptian-banks-fx-liquidity-still-vulnerable-as-recovery-from-covid-19-sell-off-will-take-longer-than-2018-em-zombie-apocalypse-fitch\/112-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572966\" class=\"content-area-description single-story post-572966 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-capital-outflows tag-emerging-markets tag-enterpriseam tag-fitch-ratings tag-foreign-exchange tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egyptian banks\u2019 FX liquidity \u201cstill vulnerable\u201d \u2014 it\u2019s going to take longer to recover from the covid-19 sell-off <\/strong><strong>than from the <\/strong><strong> 2018 EM Zombie Apocalypse -Fitch:<\/strong> The capital outflows Egypt sustained over the past several months as a result of the fallout from the covid-19 pandemic was \u201cmore severe\u201d and the strain is likely to last longer than the emerging markets sell-off in 2018, Fitch Ratings said in <a href=\"https:\/\/www.fitchratings.com\/research\/banks\/egyptian-banks-foreign-currency-liquidity-still-vulnerable-09-07-2020\">a recent report<\/a>. Egyptian banks\u2019 net foreign assets (NFA) dropped to negative USD 5.3 bn to service these outflows, the report suggests. The ratings agency sees FX liquidity within the banking system as still being \u201cvulnerable\u201d to the swings of emerging market investor appetite and a general shortage of FX receipts because of the pandemic.<\/p>\n<p><strong>We\u2019re getting back on our feet, but a full recovery will take time:<\/strong> While the USD 8 bn in funding Egypt has received from the IMF and the USD 5 bn eurobond issuance <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925263b4-1bc7-4df7-bcdc-3335f83063f0\">in May<\/a> \u201chave helped to ease pressure on foreign-currency (FC) liquidity in the short term \u2026 a sustainable improvement in [foreign currency] liquidity would require the return of FC receipts, which are contingent on external economic factors,\u201d the report says. These external factors include lower international demand driving down Suez Canal receipts, as well as merchandise exports, in addition to lower remittances from Egyptian expats. The ratings agency sees Egypt\u2019s current account deficit widening to 5.3% of GDP this year from <a href=\"https:\/\/ent.news\/2020\/4\/text-1.pdf\">3.6% in 2019<\/a>, \u201cintensifying pressure on FC reserves.\u201d<\/p>\n<p><strong>Foreign portfolio investment is starting to pick up again:<\/strong> Egypt has started to see a reversal of outflows as foreign central bank stimulus drives renewed risk appetite for high-yield EM debt. Foreign inflows have totalled around USD 3 bn in the past month, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1997494\">Al Masry Al Youm<\/a> reported earlier this week, citing an unnamed banking source. Inflows have so far accelerated in July: last Thursday saw some USD 592 mn in new portfolio investment \u2014 the largest amount in a single day since the outbreak of the covid-19 pandemic in March \u2014 and Sunday saw USD 367 mn in inflows, the source said.<\/p>\n<p><strong>But a fresh wave of outflows is still a possibility:<\/strong> Fitch says Egypt could see a new wave of outflows if the EGP were to sustain a \u201csharp depreciation.\u201d Another EM sell-off would also deliver a fresh blow to FX liquidity and banks\u2019 NFA, as foreign holdings of t-bills represented some 20% of FX reserves at the end of April.<\/p>\n<p><strong>No cause for concern?<\/strong> \u201cWe are not worried as we believe the strain on foreign currency liquidity is relatively easing currently as reflected by the currency rate cooling off to around EGP 16.00 \/ USD from EGP 16.25 a few weeks ago,\u201d HC Securities\u2019 Monette Doss told Enterprise. \u201dWe believe that at these levels Egyptian treasuries offer attractive risk-adjusted return coupled with low currency volatility which has possibly resulted in regained interest of foreign investors.\u201d<\/p>\n<p><strong>On the upside, demand for FX has dropped considerably because of the<\/strong><strong> pandemic<\/strong>, Suez Canal Bank board member Mohamed Abdel Aal tells us. While Egypt\u2019s decision to close its airspace to commercial international flights caused tourism receipts to drop to zero, it also meant that Egyptians weren\u2019t drawing FX to support international travel. The closure of the annual Hajj pilgrimage also saved the country substantial outflows, Abdel Aal says.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-outflows\/\">capital outflows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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=\"572975\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572976\" 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=\"572976\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/why-we-now-need-to-be-talking-more-about-ems\/\">\r\n                            Why we now need to be talking more about EMs                        <\/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\/15\/why-we-now-need-to-be-talking-more-about-ems\/\" 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\/15\/why-we-now-need-to-be-talking-more-about-ems\/')\">\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\/15\/why-we-now-need-to-be-talking-more-about-ems\/\">\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=Why we now need to be talking more about EMs&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/why-we-now-need-to-be-talking-more-about-ems\/\">\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\/15\/why-we-now-need-to-be-talking-more-about-ems\/&title=Why we now need to be talking more about EMs\">\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=Why+we+now+need+to+be+talking+more+about+EMs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F15%2Fwhy-we-now-need-to-be-talking-more-about-ems%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\/15\/why-we-now-need-to-be-talking-more-about-ems\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"572977\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/why-we-now-need-to-be-talking-more-about-ems\/115-jpg-24\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572976\" class=\"content-area-description single-story post-572976 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-covid-19 tag-debt tag-economy tag-emerging-markets tag-enterpriseam tag-globalization tag-the-macro-picture wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Why we now need to be talking more about EMs: <\/strong>Middle-income economies that stand halfway between the world\u2019s richest and poorest \u201care uniquely vulnerable in the pandemic.\u201d Despite this, those countries have largely been absent from the global narrative about the extraordinary steps needed to shield the global economy from the fallout, <a href=\"https:\/\/www.ft.com\/content\/ddfe663e-c1df-11ea-9b66-39ae33ea12cb\">the Financial Times\u2019 (paywall)<\/a> editorial board writes in an op-ed.<\/p>\n<p><strong>Emerging economies <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/157b182a-0454-4072-b593-8170e4b7033c\">have been<\/a><\/strong><strong> tapping local debt markets or counting on central bank reserves,<\/strong> but unlike developed countries, they can\u2019t depend on bn-USD stimulus programs and, unlike the poorest countries, aren\u2019t in line for debt relief. This is made worse given the high debt levels, shaky healthcare systems, economic stagnation and serious inequality that characterized many EMs going into the crisis.<\/p>\n<p><strong>The risks are worthy of our attention: <\/strong>EM aren\u2019t just shaky economies, they\u2019re also often clogged with political unrest. The fallout from the outbreak, thus, not only threatens pushing mns into poverty but has the potential to give way to waves of internal unrest. And while many EM are still able to access international capital markets, \u201cthe calm is deceptive,\u201d the FT writes. \u201cAs virus-induced recessions hit emerging markets with full force, budget deficits will blow out, triggering a wave of downgrades by ratings agencies and scaring away investors.\u201d<\/p>\n<p><strong>One solution is to increase the IMF\u2019s firepower: <\/strong>The IMF has so far lent out USD 25 bn to vulnerable countries, but this is far from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d0ed0fc-a156-4953-9408-15d459d93c02\">USD 2.5 tn in financial needs<\/a> the fund has estimated for EMs. Rich countries have been considering making their IMF special drawing rights (SDRs) available to hard-hit countries including island nations in the Pacific or the Caribbean. This move could set a precedent, but much more should be done to increase the fund\u2019s capacity as a lender of last resort.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/globalization\/\">globalization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572978\" 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=\"572978\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/egypt-in-the-news-on-15-july-2020\/\">\r\n                            Egypt in the News on 15 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\/15\/egypt-in-the-news-on-15-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\/15\/egypt-in-the-news-on-15-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\/15\/egypt-in-the-news-on-15-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 15 July 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/egypt-in-the-news-on-15-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\/15\/egypt-in-the-news-on-15-july-2020\/&title=Egypt in the News on 15 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+15+July+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F15%2Fegypt-in-the-news-on-15-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\/15\/egypt-in-the-news-on-15-july-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572978\" class=\"content-area-description single-story post-572978 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-egypt-in-the-news tag-enterpriseam tag-gerd tag-human-rights tag-journalism tag-politics tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The prospect of military intervention in Libya tops the conversation on <\/strong><strong>Egypt <\/strong>in the international press this morning after the country\u2019s eastern parliament invited the Egyptian military into the country: <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL5N2EL5UM\">Reuters<\/a> | <a href=\"http:\/\/www.jordantimes.com\/news\/region\/libyas-pro-haftar-assembly-backs-egypt-intervention-if-needed\">AFP<\/a> | <a href=\"https:\/\/www.ft.com\/content\/2922c77a-3627-4c32-9c83-85b864cead87\">Financial Times<\/a> | <a href=\"https:\/\/www.voanews.com\/middle-east\/libyan-parliament-speaker-calls-peace-talks-despite-giving-egypt-green-light-intervene\">Voice of America<\/a> | <a href=\"https:\/\/english.aawsat.com\/home\/article\/2389061\/libyan-parliament-calls-egypt-protect-national-security-both-countries\">Asharq Al Awsat<\/a> | <a href=\"https:\/\/www.arabnews.com\/node\/1704576\/middle-east\">Arab News<\/a> | <a href=\"https:\/\/gulfnews.com\/world\/mena\/libyan-parliament-authorises-egyptian-army-to-intervene-and-defeat-turkish-occupier-1.72582041\">Gulf News<\/a> | <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/07\/intel-libya-pro-hifter-egypt-intervene-turkey-backed.html\">Al Monitor<\/a>.<\/p>\n<p><strong>Meanwhile: <\/strong><a href=\"https:\/\/www.ft.com\/content\/9a305bba-c2b1-11ea-9b66-39ae33ea12cb\">The Financial Times<\/a> and <a href=\"https:\/\/www.voanews.com\/press-freedom\/fearing-dissent-egypt-clamps-down-critics\">Voice of America<\/a> both look at the <strong>journalists, activists <\/strong><strong>and critics<\/strong> who have been detained since protests last September and the <a href=\"https:\/\/www.nytimes.com\/2020\/07\/14\/world\/middleeast\/egypt-dissident-extradition-spain.html\">New York Times<\/a> reports that former military contractor-turned-critic in exile <strong>Mohamed Ali<\/strong> is fighting attempts by the government to extradite him from Spain to face charges of tax evasion and money laundering. Finally, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-egypt-supply\/egypt-offers-reusable-face-masks-in-state-subsidy-scheme-idUSKCN24F20S\">Reuters<\/a> has picked up the<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efd5ebda-ce0a-411a-a166-642b3e0c6b6f\">Supply Ministry\u2019s<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efd5ebda-ce0a-411a-a166-642b3e0c6b6f\">decision<\/a> to include <strong>reusable cloth face masks<\/strong> as part of its subsidy program.<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/journalism\/\">journalism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"572979\" 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=\"572979\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/\">\r\n                            Ethiopia open to ongoing GERD talks with Egypt despite dispute                        <\/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\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/\" 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\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/')\">\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\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/\">\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=Ethiopia open to ongoing GERD talks with Egypt despite dispute&url=https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/\">\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\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/&title=Ethiopia open to ongoing GERD talks with Egypt despite dispute\">\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=Ethiopia+open+to+ongoing+GERD+talks+with+Egypt+despite+dispute+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F07%2F15%2Fethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute%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\/15\/ethiopia-open-to-ongoing-gerd-talks-with-egypt-despite-dispute\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572979\" class=\"content-area-description single-story post-572979 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-african-union tag-diplomacy tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-gerd tag-libya tag-national-security tag-politics tag-sudan tag-turkey tag-war wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ethiopia leaves door open for more GERD talks:<\/strong> Ethiopia is open to continuing talks with Egypt on the Grand Ethiopian Renaissance Dam (GERD), despite failing to reach an agreement in the latest round of African Union-sponsored talks, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-14\/ethiopia-open-to-continue-nile-dam-talks-amid-dispute-with-egypt?sref=mmeFTDW1\">Bloomberg<\/a> reports. The talks ended amid concerns Ethiopia would unilaterally fill the dam\u2019s reservoir without first reaching an agreement, a move Egypt considers illegal. Ethiopia blamed the \u201cunchanged stances and additional and excessive demands of Egypt and Sudan\u201d for the lack of a breakthrough in the negotiations, according to a statement by its water and irrigation ministry on Tuesday, stressing that \u201cEthiopia is committed to show flexibility\u201d to reach an outcome that\u2019s acceptable to both sides.<\/p>\n<p><strong>Has Ethiopia already started filling the dam?<\/strong> New satellite photos show a swell of water in the GERD\u2019s reservoir, seeming evidence that Addis Ababa has already begun to fill the dam. An analyst at the International Crisis Group tells <a href=\"https:\/\/apnews.com\/600710323bb9bb4427a3d3b9a3115bae\">the Associated Press<\/a> that this is unlikely to be the case, and is instead probably a \u201cnatural backing-up of water\u201d caused by the rainy season.<\/p>\n<p><strong>Sudan has submitted its final report following the latest round of talks on the Grand <\/strong><strong>Ethiopian Renaissance Dam (GERD) from 3-13 July to the African Union,<\/strong> which sponsored the talks, state news agency <a href=\"https:\/\/suna-sd.net\/en\/single?id=685124\">SUNA<\/a> reports. It included draft proposals for a \u201c balanced and fair agreement that is suitable to be the basis for a comprehensive and acceptable agreement between the three countries,\u201d according to the report.<\/p>\n<p><strong>Deputy speaker welcomes east Libya parliament\u2019s request for Egyptian military <\/strong><strong>assistance: <\/strong>Deputy Speaker Soliman Wahdan has commended the statement by the Libyan House of Representatives, which on Monday invited the Egyptian military to intervene in the conflict to deter Turkey\u2019s eastward advances, <a href=\"https:\/\/bit.ly\/3fvUctA\">Youm7<\/a> reports.<\/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\/\">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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"572983\" 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=\"572983\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/the-market-yesterday-129\/\">\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\/15\/the-market-yesterday-129\/\" 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\/15\/the-market-yesterday-129\/')\">\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\/15\/the-market-yesterday-129\/\">\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\/15\/the-market-yesterday-129\/\">\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\/15\/the-market-yesterday-129\/&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%2F15%2Fthe-market-yesterday-129%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\/15\/the-market-yesterday-129\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572983\" class=\"content-area-description single-story post-572983 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 15.90 | Sell 16.00<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.89 | Sell 15.99<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.92 | Sell 16.02<\/p>\n<p><strong>EGX30<\/strong> (Tuesday): 10,874 (-1.2%)<br \/>\n <strong>Turnover:<\/strong> EGP 875 mn (2% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -22.1%<\/p>\n<p><strong>THE MARKET ON TUESDAY:<\/strong> The EGX30 ended Tuesday\u2019s session down 1.2%. CIB, the index\u2019s heaviest constituent, ended down 0.5%. EGX30\u2019s top performing constituents were GB Auto up 5.7%, CIRA up 1.6%, and Orascom Construction up 0.1%. Yesterday\u2019s worst performing stocks were KIMA down 4.5%, Egyptian Resorts down 4.2% and Orascom Investment Holding down 3.6%. The market turnover was EGP 875 mn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -31.3 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +28.9 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +2.4 mn<\/p>\n<p><strong>Retail<\/strong>: 74.5% of total trades | 73.4% of buyers | 75.5% of sellers<br \/>\n <strong>Institutions<\/strong>: 25.5% of total trades | 26.6% of buyers | 24.5% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 40.44 (+0.85%)<br \/>\n <strong>Brent:<\/strong> USD 43.09 (+0.87%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 1.74 MMBtu, (+0.23%, August 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,812.90 \/ troy ounce (-0.07%)<\/p>\n<p><strong>TASI:<\/strong> 7,380 (-0.43%) (YTD: -12.03%)<br \/>\n <strong>ADX:<\/strong> 4,287 (-0.45%) (YTD: -15.52%)<br \/>\n <strong>DFM:<\/strong> 2,052 (-0.72%) (YTD: -25.76%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,552 (-1.91%)<br \/>\n <strong>QE:<\/strong> 9,319 (+0.23%) (YTD: -10.61%)<br \/>\n <strong>MSM:<\/strong> 3,504 (+0.19%) (YTD: -11.98%)<br \/>\n <strong>BB: <\/strong>1,307 (-0.58%) (YTD: -18.80%)<\/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=\"572984\" 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\/15\/572984\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-572984\" class=\"content-area-description single-story post-572984 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>20-21 July (Sunday-Monday): Creative Industry Summit virtual edition.<\/p>\n<p>23 July (Thursday): 23 July revolution anniversary, national holiday.<\/p>\n<p>26 July (Sunday): Postponed court session for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15ed9c89-0c3c-4ae1-b5f4-4f4facd6c5cf\">the lawsuit<\/a> against Amer Group and Porto Group filed by Syria\u2019s Antaradous for Touristic Development<\/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>13-15 August (Thursday-Saturday): RiseUp from Home digital event. Pre-registration available <a href=\"https:\/\/riseupsummit.us10.list-manage.com\/track\/click?u=ad664250c45f81b40bcb342ac&id=4f674c89a2&e=99cb233f8f\">here<\/a>.<\/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>12 September (Saturday): Court session for Egyptian Resorts Company lawsuit against The Tourism Development Authority<\/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":572962,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-572961","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"69ce1cbe-6094-4a3e-9884-50efb47d0449","teaser":"","photo_url":"https:\/\/ent.news\/2020\/7\/111.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>It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T08:52:14+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/\",\"name\":\"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2020-07-15T04:00:28+00:00\",\"dateModified\":\"2025-12-16T08:52:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/","og_locale":"en_US","og_type":"article","og_title":"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T08:52:14+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/","name":"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1","datePublished":"2020-07-15T04:00:28+00:00","dateModified":"2025-12-16T08:52:14+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/111.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/its-going-to-take-banks-longer-to-get-over-covid-than-the-em-zombie-apocalypse-fitch\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"It\u2019s going to take banks longer to get over covid than the EM Zombie Apocalypse &ndash;Fitch"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572961\/revisions"}],"predecessor-version":[{"id":572993,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572961\/revisions\/572993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/572962"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}