{"id":573908,"date":"2020-08-24T03:59:26","date_gmt":"2020-08-24T03:59:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=573908"},"modified":"2025-12-16T09:24:33","modified_gmt":"2025-12-16T09:24:33","slug":"pressure-on-the-egp-is-easing-as-tourism-picks-up-world-adjusts-to-covid","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/pressure-on-the-egp-is-easing-as-tourism-picks-up-world-adjusts-to-covid\/","title":{"rendered":"Pressure on the EGP is easing as tourism picks up, world adjusts to covid"},"content":{"rendered":"<section id=\"573910\" 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=\"573910\">\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\/08\/24\/what-were-tracking-on-monday-24-august-2020\/\">\r\n                            What we\u2019re tracking on Monday, 24 August 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\/08\/24\/what-were-tracking-on-monday-24-august-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The market picked up on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d161473-069f-478f-88c3-903283812882\">signs tourism is gaining ground<\/a> despite covid-19 and traders welcomed the notion that the central bank seems set on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a3ac4c6-3bdc-4581-ac99-0eddec3cc83d\">renewing relief measures<\/a> for the companies hardest-hit by the pandemic. Trading was heavy, with EGP 1.4 bn-worth of shares changing hands \u2014 around 36% above the trailing 90-day average.<\/p><p><strong>Safety precautions at Egyptian tourism sites got a thumbs-up from UNWTO<\/strong><strong>\u00a0Secretary-General <\/strong>Zurab Pololikashvili, who <a href=\"https:\/\/bit.ly\/3aMOiD0\">lauded<\/a> covid-19 precautions Egypt is implementing at its hotels. Pololikashvili is currently on an inspection tour in Hurghada, which he said in <a href=\"https:\/\/twitter.com\/pololikashvili\/status\/1297491525052628995\">a tweet<\/a> is \u201cready to welcome tourists.\u201d The WTO boss\u2019 visit to Egypt is his first trip outside Europe since the onset of the pandemic.<\/p><hr class=\"grey-line\"><p><strong>Today could be the last day of the House of Representatives\u2019 current legislative<\/strong><strong> cycl<\/strong><strong>e<\/strong>, leaving just one more get-together before MPs reconvene for a brief session this fall ahead of elections in October or November. Our elected representatives have some 60 agenda items before them, from committee reports to bills, according to the <a href=\"http:\/\/www.parliament.gov.eg\/SESSIONS_SHOW.aspx\">House\u2019s schedule<\/a>. House Secretary-General Mahmoud Fawzy had said earlier this week that Parliament would only break for summer recess if it completes its entire agenda. We had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">a rundown yesterday<\/a> on what\u2019s still pending, ranging from a waste management bill to new capital requirements for SME lenders.<\/p><p><strong>President Abdel Fattah El Sisi will be in Amman sometime this week to take trade<\/strong>, and investment cooperation and regional developments with Jordan\u2019s King Abdullah and Iraqi Prime Minister Mustafa Al Kadhimi, according to the <a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=27670&amp;lang=en&amp;name=en_news\">Jordan News Agency<\/a>.<\/p><p><strong>More covid loans? <\/strong>The government is now seeking to double the size of the USD 1 bn loan it was planning on requesting this year from UAE banks, <a href=\"https:\/\/bit.ly\/32gWOX0\">Al Mal<\/a> reports citing a House Legislative Committee <a href=\"https:\/\/ent.news\/2020\/8\/Leg-Affairs-Committee-UAE-Loan-Decision.pdf\">report (pdf)<\/a> approving the move. The government will be looking to obtain a USD 2 bn covid-19 loan to be used for covid stimulus from a consortium led by Emirates NBD and First Abu Dhabi Bank and that also includes Mashreq and Citibank. <strong>This would be the third major loan in the pipeline for Egypt <\/strong>after the IMF last month disbursed a USD 2.8 bn rapid financing instrument, and green-lit a USD 5.2 bn standby loan.<\/p><p><strong>The Madbouly government has 10 new mining exploration tenders in the works for late <\/strong><strong>2020 or early 2021<\/strong>, including iron, copper, phosphate, and lithium, Tamer Abu Bakr, head of the Federation of Egyptian Industries\u2019 petroleum and mining division, told <a href=\"https:\/\/bit.ly\/2YnIzOL\">Al Mal<\/a> yesterday. The first tender will be issued after the government awards licenses in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2240445a-77ec-406e-ae40-941e64f96442\">gold exploration tender<\/a> that\u2019s been ongoing since earlier this year.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2CXMKJW\">reported<\/a><\/strong><strong> 103 new covid-19 infections yesterday<\/strong>, up from 89 the day before. Egypt has now disclosed a total of 97,340 confirmed cases of covid-19. The ministry also reported <strong>19 new deaths<\/strong>, bringing the country\u2019s total death toll to 5,262. We now have a total of 65,927 confirmed cases that have fully recovered.<\/p><p><strong>The Coptic Orthodox Church will resume holding weekly mass every Friday<\/strong><strong> starting 11 September<\/strong>, its spokesperson <a href=\"https:\/\/bit.ly\/3jah9Em\">said yesterday<\/a>. Egypt\u2019s churches opened their doors earlier this month for the first time in since March, and announced a gradual plan to resume the weekly mass. Worshippers will need to practice social distancing and wear masks, among other precautions. Muslims are also getting ready to return to Friday prayers this week at \u201cmajor\u201d mosques with health and safety precautions stipulated, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">cabinet said<\/a> last week.<\/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\/8\/Hotel-Mesca-Entr-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Major companies across the US are rethinking plans to return staffers to the<\/strong> <strong>office next month, aiming instead to go back next year<\/strong>, the <a href=\"https:\/\/www.wsj.com\/articles\/many-companies-planned-to-reopen-offices-after-labor-day-with-coronavirus-still-around-theyre-rethinking-that-11598175001?mod=hp_lead_pos1\">Wall Street Journal<\/a> reports. The survey included 15 major firms employing 2.6 mn workers. Some 57% cited recent spikes in covid-19 cases as the reason for postponing a resumption of full-time office life, adding that they would introduce additional safety measures, like temperature checks and redesigned workspaces, when they reopen.<\/p><p><strong>US presidential hopeful Joe Biden is willing to \u201cshut down\u201d the country to stop covid<\/strong> if scientists say doing so would stop the spread of the virus and save lives, according to <a href=\"https:\/\/www.ft.com\/content\/db1e3f43-0bfb-4c44-92d0-8c9cbce02a65\">the Financial Times<\/a>. The Democratic candidate had previously said that he would take the \u201cmuzzle\u201d off medical experts to ensure that the public had accurate information about the pandemic.<\/p><p><strong>The Donald is reportedly looking to \u201cfast-track\u201d authorization of a vaccine<\/strong> Oxford University and AstraZeneca are currently developing, the <a href=\"https:\/\/www.ft.com\/content\/b053f55b-2a8b-436c-8154-0e93dcdb3c1a\">Financial Times<\/a> reports, citing three sources with knowledge of the matter. The plan comes as the November presidential election is fast-approaching, and the Trump administration looks to shift the narrative on its highly criticized handling of the pandemic \u2014 which Biden said last week was \u201cthe worst performance of any nation.\u201d<\/p><hr class=\"grey-line\"><p><strong>Will Apple retain its position as the world\u2019s most valuable company when markets open <\/strong><strong>across the pond today? <\/strong>Apple's market capitalization topped USD 2 tn on Wednesday, when shares briefly touched USD 468.65, allowing the iPhone maker to take over Saudi Aramco\u2019s position as the world\u2019s most valuable listed company, according to <a href=\"https:\/\/www.reuters.com\/article\/us-apple-stocks\/apples-stock-market-value-tops-2-trillion-idUSKCN25F1X9\">Reuters<\/a>. Apple\u2019s share price is up around 57% YTD, propelled by investor confidence in its service-based future strategy. This recent rally, however, might have left Apple\u2019s shares overvalued as they\u2019re currently trading at above 30x analysts\u2019 expected earnings, according to Refinitiv data.<\/p><p><strong>Apple\u2019s rally is part of a historic surge in tech stocks <\/strong>as people are relying more on digital services and as investors believe tech will emerge even stronger post-covid. Microsoft, Amazon, and Google parent Alphabet \u2014 the three most valuable traded US stocks following Apple \u2014 are now joined by other tech heavyweights whose values have hit record highs, notes the newswire.<\/p><p><strong>Here at home, Fawry just became the first fintech company in Egypt to be worth more <\/strong><strong>than USD 1 bn<\/strong> as its shares have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bacf711c-ba11-4aa2-9977-3d254e2683f5\">gained more than 300%<\/a> since it debuted on the EGX last year. Fawry\u2019s share price closed in the green at the closing bell again yesterday.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> After looking earlier this month at how education stocks have weathered the covid-19 storm in equity markets, we dive into how education was also able to prove itself as a defensive sector on the capital expenditure side.<\/p>\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\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/king-abdullah-ii\/\">King Abdullah II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-alamein\/\">New Alamein<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/work-from-home\/\">Work from home<\/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=\"573911\" class=\"issue-section \">\n<div 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   <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/egypts-talk-shows-gerd-talks-resume-today-covid-19-second-wave-is-coming\/\">\r\n                            Egypt\u2019s talk shows: GERD talks resume today, covid-19 second wave is coming                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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resume today, covid-19 second wave is coming\">\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%E2%80%99s+talk+shows%3A+GERD+talks+resume+today%2C+covid-19+second+wave+is+coming+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F08%2F24%2Fegypts-talk-shows-gerd-talks-resume-today-covid-19-second-wave-is-coming%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\/08\/24\/egypts-talk-shows-gerd-talks-resume-today-covid-19-second-wave-is-coming\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573912\" class=\"content-area-description single-story post-573912 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The nation\u2019s airwaves didn\u2019t have much to give us as a welcome-back offering last night<\/strong>, with only Ala Mas\u2019ouleety\u2019s Ahmed Moussa serving up any content.<\/p>\n<p><strong>Negotiations with Ethiopia and Sudan on GERD continue today<\/strong> as the three countries are working on a report to submit to South Africa this Friday with their proposals and points of contention, Irrigation Ministry spokesman Mohamed El Sebai told Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=1CW_8jnnciU\">watch, runtime: 5:53<\/a>). We recapped the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3109747f-ca2a-4f71-b760-9b7201ae16e3\">latest updates<\/a> on the talks yesterday.<\/p>\n<p><strong>We\u2019ve just about contained the first wave of covid-19 infections and could even start seeing days with zero new cases or deaths, but a second wave is all but certain<\/strong> come wintertime, Hossam Hosny, the head of the scientific committee of the state\u2019s anti-covid task force told Moussa. Hosny also discussed Egypt\u2019s plans to secure a vaccine, pointing to China and the UK as the most promising sources at the moment, while Russia\u2019s Sputnik V is still in the clinical trial stage (<a href=\"https:\/\/www.youtube.com\/watch?v=XHDeWxAax78\">watch, runtime: 20:05<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"573913\" 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=\"573913\">\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\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\">\r\n                            FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange                        <\/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\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\" 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\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/')\">\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\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\">\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=FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange&url=https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\">\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\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/&title=FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange\">\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=FRA+wants+private+sector+to+hold+ownership+stake+%28and+possibly+majority%29+in+upcoming+futures+exchange+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F08%2F24%2Ffra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange%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\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/177.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"573914\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/177-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/177.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"177.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/177.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/177.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573913\" class=\"content-area-description single-story post-573913 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-capital-markets-act tag-enterpriseam tag-financial-regulatory-authority 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>SMART POLICY- FRA wants private sector to own a chunk (and possibly a <\/strong><strong>majority stake) of the futures exchange:<\/strong> It appears that the Financial Regulatory Authority (FRA) wants the private sector to hold a stake in the long-awaited futures exchange, FRA Vice President Khaled El Nashar told <a href=\"https:\/\/bit.ly\/3jchy9j\">Hapi Journal<\/a> on Sunday. The move is part of the regulator\u2019s plan to tap the expertise of private-sector financial institutions and is meant to privatize the market from the get go, staving off any future calls for privatization, as is the case today with the EGX, El Nashar added. El Nashar also suggested that Misr Clearing and Depository Company (MCDR) should be opened to private-sector ownership. <strong>The FRA could go so far as to sell the private sector a majority stake<\/strong>, he suggested.<\/p>\n<p><strong>Keep an eye on a meeting tomorrow with top players in the finance industry: <\/strong>Plans for the futures exchange will be on the agenda tomorrow when the FRA meets a with number of Egypt\u2019s leading financial institutions. Private-sector commercial and investment banks as well as insurance companies will be at the table along with representatives from the EBRD and the International Finance Corporation. <strong>Joining from the government side: FRA, MCDR, and the EGX<\/strong>, El Nashar said.<\/p>\n<p><strong>This is the first high-level public discussion of the futures exchange <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/derivatives-trading-and-egypts-first-futures-exchange-are-coming-next-year-farid\/\">since EGX boss Mohamed Farid said<\/a> pre-covid that Egypt could launch derivatives trading in 1H2020. We had also heard last year that MCDR and the EGX were finalizing the regulations and infrastructure needed to launch derivatives trading, which would see derivatives trades settled through a new electronic platform, but no updates on that have come out.<\/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\/capital-markets-act\/\">Capital Markets Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/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=\"573930\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"573931\" 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=\"573931\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/573931\/\">\r\n                                                    <\/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\/08\/24\/573931\/\" 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\/08\/24\/573931\/')\">\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\/08\/24\/573931\/\">\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=&url=https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/573931\/\">\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\/08\/24\/573931\/&title=\">\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=+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F08%2F24%2F573931%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\/08\/24\/573931\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573931\" class=\"content-area-description single-story post-573931 post type-post status-publish format-standard hentry category-egypt-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s crickets for Egypt in the international press. <\/strong><\/p>\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<section id=\"573935\" 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=\"573935\">\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\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/the-market-yesterday-152\/\">\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\/08\/24\/the-market-yesterday-152\/\" 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\/08\/24\/the-market-yesterday-152\/')\">\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\/08\/24\/the-market-yesterday-152\/\">\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\/08\/24\/the-market-yesterday-152\/\">\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\/08\/24\/the-market-yesterday-152\/&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%2F08%2F24%2Fthe-market-yesterday-152%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\/08\/24\/the-market-yesterday-152\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573935\" class=\"content-area-description single-story post-573935 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 15.88 | Sell 15.98<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.88 | Sell 15.98<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.88 | Sell 15.98<\/p>\n<p><strong>EGX30<\/strong> (Sunday): 11,391 (+2.1%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.4 bn (36% above the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -18.41%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session up 2.1%. CIB, the index\u2019s heaviest constituent, ended up 2.1%. EGX30\u2019s top performing constituents were AMOC up 6.7%, Sidi Kerir Petrochemicals up 5.9%, and Madinet Nasr Housing up 4.4%. The market turnover was EGP 1.4 bn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Short | EGP -27.6 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +26.7 mn<br \/>\n <strong>Domestic<\/strong>: Net Long | EGP +0.8 mn<\/p>\n<p><strong>Retail<\/strong>: 76.6% of total trades | 75.3% of buyers | 78.0% of sellers<br \/>\n <strong>Institutions<\/strong>: 23.4% of total trades | 24.7% of buyers | 22.0% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 42.51 (+0.40%)<br \/>\n <strong>Brent:<\/strong> USD 44.51 (+0.36%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 2.45 MMBtu, (+0.12%, September 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,946.10 \/ troy ounce (-0.05%)<\/p>\n<p><strong>TASI:<\/strong> 7,901.93 (+0.75%) (YTD: -5.81%)<br \/>\n <strong>ADX:<\/strong> 4,542.96 (+0.94%) (YTD: -10.50%)<br \/>\n <strong>DFM:<\/strong> 2,235.58 (-0.50%) (YTD: -19.14%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,646.20 (-1.89%)<br \/>\n <strong>QE:<\/strong> 9,809.05 (+0.43%) (YTD: -5.91%)<br \/>\n <strong>MSM:<\/strong> 3,628.90 (+0.59%) (YTD: -8.85%)<br \/>\n <strong>BB: <\/strong>1,354.99 (-0.02%) (YTD: -15.85%)<\/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\/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=\"573936\" 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\/08\/24\/573936\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573936\" class=\"content-area-description single-story post-573936 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>25 August (Tuesday): FRA to discuss regulations for derivatives trading and the futures market with private sector banks and development partners including the EBRD and IFC.<\/p>\n<p>26 August (Wednesday) Greek parliament <a href=\"https:\/\/www.reuters.com\/article\/us-greece-egypt-turkey\/greece-to-ratify-sea-accord-with-egypt-on-august-26-idUSKBN25G16E\">to ratify<\/a> Egypt-Greece maritime boundaries accord.<\/p>\n<p>26-27 August (Wednesday- Thursday) \"Tutankhamun ... Treasures of the Golden Pharaoh\" exhibition will arrive <a href=\"https:\/\/bit.ly\/2Et97r3\">back in Egypt<\/a> from it\u2019s latest tour stop in London.<\/p>\n<p>28 August (Friday): Friday prayers at all major mosques will resume with safety measures in place.<\/p>\n<p>28 August (Friday): Tripartite technical committee on GERD will complete technical report and submit it to the African Union for discussion.<\/p>\n<p>September: <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/03\/egypt-gets-its-first-federation-for-securities\/#:~:text=Egypt%20gets%20its%20first%20federation%20for%20securities%3A%20The%20Financial%20Regulatory,securities%2C%20according%20to%20a%20statement.\">The Egyptian Federation for Securities<\/a> will hold elections for its board of directors after they were <a href=\"https:\/\/bit.ly\/3hpX2Bp\">postponed<\/a> in March due to the lockdown.<\/p>\n<p>1 September (Tuesday): Tourist activities will resume in <a href=\"https:\/\/bit.ly\/2FGrdpU\">Luxor<\/a> and <a href=\"https:\/\/bit.ly\/31hAZY2\">Aswan<\/a>.<\/p>\n<p>1 September (Tuesday): All tourists flying to Egypt must show PCR tests.<\/p>\n<p>September (date TBD): The General Authority for Investment (GAFI) <a href=\"https:\/\/bit.ly\/3kOkVVq\">will host<\/a> a virtual meeting with the Arab-German Chamber of Commerce and Industry and some 120 German companies to discuss investment prospects in Egypt.<\/p>\n<p>8-9 September (Tuesday-Wednesday): Run-off Senate elections.<\/p>\n<p>9 September-25 October: KLM to run passenger flights to Cairo for the first time since 2017.<\/p>\n<p>12 September (Saturday): Court session for Egyptian Resorts Company lawsuit against the Tourism Development Authority.<\/p>\n<p>14-15 September (Monday-Tuesday) The Chemical Industries Export Council will organize a <a href=\"https:\/\/bit.ly\/3kBMjWw\">virtual conference<\/a> to discuss export options for Egyptian chemical exporters in Kenya and Uganda.<\/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>20 September (Sunday): A Cairo administrative court is due to issue a ruling in a third-party lawsuit <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=26072020&id=ba514e75-6e4a-46ad-b8d1-bbc17912d90d\">demanding the government block YouTube in Egypt<\/a> for carrying an allegedly sacreligious video. The case is an infamous 2012-vintage lawsuit still wending its way through the courts.<\/p>\n<p>24 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>4 October (Sunday): House of Representatives reconvenes for its sixth and final legislative cycle (TBD).<\/p>\n<p>4 October (Sunday): Senate convenes for its first session.<\/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>16 September (Wednesday): The last day for the final results of the senate elections to be announced.<\/p>\n<p>17 October (Saturday): 2020-2021 academic year <a href=\"https:\/\/egyptindependent.com\/egypts-academic-year-to-start-october-17-but-decisions-remain-to-be-made\/\">begins<\/a> for K-12 students at state schools and students in <a href=\"https:\/\/bit.ly\/3eRqo9E\">public universities<\/a>.<\/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>4-7 November (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt Expo<\/a>, International Exhibition Center, Cairo.<\/p>\n<p>12 November (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1 December (Tuesday): The IMF will conduct a first review of targets set under the USD 5.2 bn standby loan approved in June (proposed date).<\/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 2021 (Monday): Sham El Nessim.<\/p>\n<p>6 May 2021 (Thursday): National holiday in observance of Sham El Nessim.<\/p>\n<p>12-15 May 2021 (Wednesday-Saturday): Eid El Fitr (TBC).<\/p>\n<p>1 June 2021 (Tuesday): The IMF will conduct a second review of targets set under the USD 5.2 bn standby loan approved in June 2020 (proposed date).<\/p>\n<p>10 June 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>26-29 June 2021 (Saturday-Tuesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/?utm_source=Adestra&utm_medium=email&CID=003D000002UIHn4IAH&utm_campaign=Egyp%5Bt%20postponement%20generic%20exp%20visp&utm_term&utm_content=7014G000001cG3zQAE&CNAME=Enterprise\">The Big 5 Construct Egypt<\/a>, Cairo International Convention Center.<\/p>\n<p>22 July 2021 (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\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":573909,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-573908","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"32551ae3-347b-4c59-805e-49282f1103e9","teaser":"","photo_url":"https:\/\/ent.news\/2020\/8\/175.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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