{"id":573991,"date":"2020-08-26T04:19:59","date_gmt":"2020-08-26T04:19:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=573991"},"modified":"2025-12-16T09:27:19","modified_gmt":"2025-12-16T09:27:19","slug":"did-egypts-megaprojects-cushion-the-economic-impact-of-the-great-lockdown","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/did-egypts-megaprojects-cushion-the-economic-impact-of-the-great-lockdown\/","title":{"rendered":"Did Egypt\u2019s megaprojects cushion the economic impact of The Great Lockdown?"},"content":{"rendered":"<section id=\"573993\" 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=\"573993\">\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\/26\/what-were-tracking-on-26-august-2020\/\">\r\n                            What we\u2019re tracking on 26 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\/26\/what-were-tracking-on-26-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 change comes as the Central Bank of Egypt rolled back some covid-19 restrictions in a <a href=\"https:\/\/ent.news\/2020\/8\/1%D9%85%D8%AF-%D8%B3%D8%A7%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D9%85%D9%84-%D9%84%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A.pdf\">circular (pdf)<\/a> out yesterday. Since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5337c61c-cc19-4ede-a95d-02700eccae6d\">May<\/a>, banks have been allowed to open their doors to customers from 9:30 am until 3 pm.<\/p><p><strong>The next step in the drawn out and contentious GERD talks is expected to take place this <\/strong><strong>Friday<\/strong>, when the tripartite technical committee releases its report to the African Union, which is mediating the dispute. We have more, including coverage of Ethiopian Prime Minister Abiy Ahmed\u2019s visit to Khartoum yesterday, in this morning\u2019s Diplomacy + Foreign Trade, below.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>SIGN OF THE TIMES- Global law firm Linklaters is going to allow its more than 5k staff to <\/strong><strong>work half the time remotely<\/strong>, which the <a href=\"https:\/\/www.ft.com\/content\/eb4da0b1-d36b-4ddd-b520-0bd62deab157\">Financial Times<\/a> says is \u201cthe strongest sign yet that changes ushered in by the pandemic are beginning to take root in a legal industry that has long valued tight-knit office culture.\u201d The firm said in a <a href=\"https:\/\/www.linklaters.com\/en\/about-us\/news-and-deals\/news\/2020\/august\/linklaters-launches-new-global-agile-working-policy\">LinkedIn post<\/a> announcing <strong>\u201cnew global agile working policy\u201d <\/strong>that it will also allow staff to have \u201cflexible start and finish times, modified daily \u2018core\u2019 hours, and modified hours to allow for commitments outside of work.\u201d<\/p><p><strong>TIP OF THE MORNING- Still struggling to hold onto your sanity while WFH? Take cues <\/strong><strong>from a Buddhist priest, a field manager in Antarctica and an astronaut<\/strong>, who have learned to thrive despite having intense jobs in largely isolated settings, Arianne Cohen writes for <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-25\/working-from-home-what-we-ve-learned-while-working-from-home\">Bloomberg<\/a>.<\/p><p><strong>Tried and true tips to avoid burnout:<\/strong> Learn to take a break effectively \u2014 incorporate \u201cshort pauses\u201d throughout your day in which you shake up what your mind and body are engaged in. That means taking a quick walk or otherwise squeezing in physical activity, listening to music, or reading something not related to work. And once you come back to your desk, try to remind yourself, on a deeper level, of why you\u2019re doing the work that you\u2019re doing to nurture a sense of purpose and passion that \u201ccan really get you through rough patches.\u201d<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3hwj3hX\">reported<\/a><\/strong><strong> 141 new covid-19 infections yesterday<\/strong>, up from 138 the day before. Egypt has now disclosed a total of 97,619 confirmed cases of covid-19. The ministry also reported 18 new deaths, bringing the country\u2019s total death toll to 5,298. We now have a total of 67,717 confirmed cases that have fully recovered.<\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>Egypt and China will sign next month an agreement to start working together on a <\/strong><strong>covid-19 vaccine<\/strong>, the Health Ministry said in <a href=\"https:\/\/bit.ly\/3b3Iu8k\">a statement<\/a>. State-affiliated vaccine manufacturer <a href=\"https:\/\/www.vacsera.com\/#about\">Vacsera<\/a> is signing on the Egyptian side. Egyptian scientists are in the third stage of clinical trials on a homegrown covid-19 vaccine, and the ministry has simultaneously <a href=\"https:\/\/bit.ly\/3hA6Itm\">contacted six international manufacturers<\/a> to get its hands on an internationally developed vaccine as soon as possible. Russia could also potentially manufacture its Sputnik V vaccine here in Egypt, we noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">earlier this week<\/a>.<\/p><p><strong>REMINDER- All travelers to Egypt \u2014 including Egyptian citizens \u2014 to Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">need to<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">show a negative PCR<\/a><\/strong><strong> test<\/strong> prior to boarding and on arrival in Egypt starting next Tuesday, 1 September. National flag carrier <a href=\"https:\/\/bit.ly\/3hzwYUI\">EgyptAir<\/a> has more on its website. The test needs to have been completed within 72 hours of flying to Egypt.<\/p><p><strong>Visa services outfit VFS Global is the latest to try to get in on the PCR test game<\/strong>, giving would-be travelers in Egypt, the United States, Saudi Arabia, the UAE and eight other countries the ability to <a href=\"https:\/\/www.vfsglobal.com\/en\/individuals\/covid-test.html\">book a PCR test online<\/a>. The tests in Egypt cost EGP 3.4k (at a testing center or at-home service), with results on email within 36 hours. Travelers booking from the US get results in 48 hours through a partner lab.<\/p><p><strong>Luxor and Aswan\u2019s reopening on 1 September couldn\u2019t be happening sooner for <\/strong><strong>tourists from Japan, Italy, France, Belgium, and the Netherlands<\/strong>, who have apparently been submitting regular inquiries on when the popular tourist cities will begin accepting visitors again, a local tourism player told <a href=\"https:\/\/bit.ly\/31qwlH9\">Al Mal<\/a> yesterday. The expectation is that Upper Egypt travel will pick up in December for the winter season after Nile Cruises resume in October. Cabinet\u2019s covid-19 crisis management committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d161473-069f-478f-88c3-903283812882\">earlier this week<\/a> authorized the reopening of temples, archaeological sites, attractions, and museums starting September.<\/p><p><strong>All parks and specialized gardens around Cairo will open to the public starting <\/strong><strong>today<\/strong>, with a maximum capacity of 50%, Cairo governorate said, according to <a href=\"https:\/\/bit.ly\/34vINHC\">Masrawy<\/a>.<\/p><p><strong>Careem Egypt has resumed new driver registration<\/strong> after a pause for several months since the pandemic broke out, <a href=\"https:\/\/bit.ly\/32rqccW\">one of its certified agents said<\/a>.<\/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\/SOMA-ENTERPRISE-APPAMEND-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a>For the first time in the Red Sea, Somabay launches the newest destination app which provides fully fledged integrated services (available <a href=\"https:\/\/apps.apple.com\/fr\/app\/somabay-app\/id1480983011?l=en\">here<\/a> for iOS users and <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.moonshot.somaBayApp&amp;hl=en_US\">here<\/a> for Android) in line with supporting the company\u2019s plans for digitizing hotel guests\u2019 experiences using trending technologies.<\/p><p><strong>IPO WATCH- PayPal Mafia boss Peter Thiel thinks he\u2019s in line to make a killing as data <\/strong><strong>outfit <\/strong><strong><a href=\"https:\/\/www.palantir.com\">Palantir<\/a><\/strong><strong> goes public<\/strong> \u2014 and he and his co-founders are using a three-tiered governance structure to still retain control of the US government\u2019s favourite provider of data analytics to the intelligence, military and law enforcement communities. In a move totally congruent with Palantir\u2019s ethos, the company\u2019s listing filing \u201chas sought to draw a clear line between its own business and what it dismissed as the \u2018idiosyncrasies and excesses\u2019 of the rest\u201d of Silicon Valley (which, incidentally, <a href=\"https:\/\/www.marketwatch.com\/story\/palantir-reportedly-moves-headquarters-from-silicon-valley-to-denver-ahead-of-public-listing-11597871483?mod=article_inline\">it is leaving for Denver, Colorado<\/a>), the <a href=\"https:\/\/www.ft.com\/content\/702757c2-2d8f-42c2-9260-99dcf449914f\">FT reports<\/a>. The notoriously secretive data company is going after <a href=\"https:\/\/www.businessinsider.com\/palantir-reportedly-doing-a-direct-listing-with-investor-lockup-2020-8\">a direct listing (think: Slack and Spotify)<\/a>, with shares likely to start trading in September.<\/p><p><strong><a href=\"https:\/\/sec.report\/Document\/0001193125-20-230013\/\">You can read Palantir\u2019s S-1 filing here<\/a><\/strong>, and <a href=\"https:\/\/www.theverge.com\/2020\/8\/25\/21401669\/palantir-public-thiel-trump-profit-privacy-s-1-filing\">the Verge<\/a> and <a href=\"https:\/\/www.marketwatch.com\/story\/palantir-takes-swings-at-silicon-valley-on-its-way-to-wall-street-2020-08-25\">MarketWatch<\/a> have more.<\/p><p>While Palantir\u2019s listing is not really an IPO, <strong>Jack Ma\u2019s payment company Ant Group is filing <\/strong><strong>for a USD 30 bn IPO on the Shanghai and Hong Kong stock exchanges <\/strong>in a transaction that could potentially raise a hair more than Aramco pulled in last year (was it really only last year? Not last decade?) when it listed on the Tadawul. Fat profit margins and 1 bn users underpin the Alibaba affiliate\u2019s bid for a USD 225 bn valuation. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-25\/jack-ma-s-ant-group-files-for-ipo-in-hong-kong-and-shanghai?sref=mmeFTDW1\">Bloomberg<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/jack-mas-ant-group-files-ipo-listing-documents-11598349802\">WSJ<\/a> have more and you can <strong><a href=\"https:\/\/www1.hkexnews.hk\/app\/sehk\/2020\/102484\/documents\/sehk20082500535.pdf\">check out Ant\u2019s IPO filing here (pdf)<\/a><\/strong><a href=\"https:\/\/www1.hkexnews.hk\/app\/sehk\/2020\/102484\/documents\/sehk20082500535.pdf\">.<\/a><\/p><p class=\"web-image\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-25\/abu-dhabi-returns-to-dollar-bond-market-with-multi-tranche-deal\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/Bloomberg-Kuwait-Debt-1600.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>With low borrowing costs and yield-hungry investors, Abu Dhabi is hitting the debt <\/strong><strong>market to shore up its cash buffers.<\/strong> The emirate is marketing a triple-tranche USD-denominated debt offering that is expected to reel in USD 5 bn, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-25\/abu-dhabi-returns-to-dollar-bond-market-with-multi-tranche-deal\">Bloomberg<\/a> reports, citing a source familiar with the matter. The bond offering, which comes as Abu Dhabi looks to shore up its finances amid a still-weak outlook for oil prices that is continuing to weigh on its covid-roiled economy, will include a 50-year fixed income treasury \u2014 its longest-ever bond tenor. With a AA credit rating, Abu Dhabi\u2019s debt is expected to garner significant interest from investors \u201cthirsty for yield,\u201d said Todd Schubert, head of fixed-income research at Bank of Singapore.<\/p><p><strong>And speaking of the hunt for cash: Kuwait\u2019s state treasury is on track to run out of cash <\/strong><strong>to pay out government salaries by November<\/strong> as the pandemic and collapsing oil prices pushed the Gulf country into a liquidity crisis and forced it to burn through its reserves just to stay on top of state payrolls, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-08-19\/kuwait-can-t-pay-salaries-beyond-oct-minister-tells-parliament\">Bloomberg<\/a> reports. It\u2019s looking like Kuwait\u2019s only viable exit strategy is to take on loans from international lenders, but lawmakers with budget reform on their minds are pushing back.<\/p><p><strong>US Secretary of State Mike Pompeo wants to see the the rapprochement between the <\/strong><strong>UAE and Israel have a domino effect across the rest of the Arab world<\/strong>, <a href=\"https:\/\/www.state.gov\/secretary-michael-r-pompeo-and-israeli-prime-minister-benjamin-netanyahu-after-their-meeting-2\/\">saying at a press briefing<\/a> with Israeli Prime Minister Benjamin Netanyahu earlier this week that formal diplomatic ties with Tel Aviv are key to bringing stability to the region. <strong>Top aides to US President Donald Trump are due in the UAE next Monday <\/strong>alongside an Israeli delegation to talk strengthening the UAE-Israel agreement, reports <a href=\"https:\/\/www.reuters.com\/article\/us-israel-emirates-usa\/israeli-delegation-to-visit-uae-next-week-accompanied-by-trump-aides-idUSKBN25L2HM\">Reuters<\/a>.<\/p><p><strong>Sudan may be next in line as it looks to continue its rehabilitation in Washington:<\/strong> Pompeo flew to Khartoum on the <a href=\"https:\/\/twitter.com\/SecPompeo\/status\/1298168689683038208\">first non-stop flight<\/a> between Israel and Sudan yesterday to meet with Prime Minister Abdalla Hamdok yesterday <a href=\"https:\/\/af.reuters.com\/article\/topNews\/idAFKBN25L1IX-OZATP\">for talks<\/a> that Hamdok <a href=\"https:\/\/twitter.com\/SudanPMHamdok\/status\/1298218456794517510\">said<\/a> were \u201cdirect and transparent,\u201d but Hamdok <a href=\"https:\/\/www.reuters.com\/article\/us-sudan-usa-pompeo\/sudan-pm-tells-pompeo-hes-not-authorised-to-normalise-ties-with-israel-idUSKBN25L0XE?il=0\">told Pompeo<\/a> he doesn\u2019t have the mandate or authorization to normalize ties with Israel.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We interrupt our series on <a href=\"https:\/\/enterprise.press\/hardhats\/surplus-electricity-still-get-power-cuts\/\">why we still get power cuts in the midst of an electricity surplus<\/a> to bring you a special report on Egypt\u2019s first major transit hub, which lies at the end of the proverbial rainbow that is the fourth phase of the EGP 32 bn Cairo Metro Line 3. We explore why it was built, what it took to build it, and what is its significance beyond railway infrastructure.<\/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\/5g\/\">5G<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- 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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\/08\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/\">\r\n                            Refund of Egypt\u2019s school bus fees + PCR testing weigh on tourism bookings?                        <\/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\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/\" 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\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/')\">\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\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/\">\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=Refund of Egypt\u2019s school bus fees + PCR testing weigh on tourism bookings?&url=https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/\">\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\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/&title=Refund of Egypt\u2019s school bus fees + PCR testing weigh on tourism bookings?\">\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=Refund+of+Egypt%E2%80%99s+school+bus+fees+%2B+PCR+testing+weigh+on+tourism+bookings%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F08%2F26%2Frefund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings%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\/26\/refund-of-egypts-school-bus-fees-pcr-testing-weigh-on-tourism-bookings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573995\" class=\"content-area-description single-story post-573995 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-consumer-protection-authority tag-education tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The highlight of last night\u2019s talk shows was <strong>Consumer Protection Authority (CPA) boss<\/strong><strong> Ahmed Samir Farag breaking down the CPA\u2019s decision to refund a portion of school bus fees<\/strong> in a phone-in to Ala Mas\u2019ouleety. We have the story in this morning\u2019s Speed Round, below.<\/p>\n<p><strong>The CPA settled on requiring schools and universities to refund 25% of bus fees from the last academic year<\/strong> by crunching the numbers on how much of the full year schools were actually in session before transitioning to online learning, Farag told host Ahmed Moussa. President Abdel Fattah El Sisi had first ordered schools and universities to shut down <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40b9e998-dad6-4293-9c27-97d7c9a17e0b\">in mid-March<\/a> in what was originally meant to be a two-week measure. Farag stressed to Moussa that parents must file complaints to alert the agency of any cases of non-compliance from schools on the repayment decision, which is punishable by law (<a href=\"https:\/\/www.youtube.com\/watch?v=MutdflHTF2c&t=78s\">watch, runtime: 7:40<\/a>).<\/p>\n<p><strong>PCR test requirements weighing on tourism bookings?<\/strong> Some tourists have apparently been canceling their hotel reservations in Egypt\u2019s resort towns because of the government\u2019s (very sensible) requirements that incoming tourists provide negative PCR test results, Chamber of Tourism Establishments member Waheed Assem claimed. Assem told Moussa that, in comparison to the low cost of spending one week in Egypt (which he put at around USD 150), a PCR test is too expensive. He suggested offering subsidized tests at Egypt\u2019s airports, or throwing caution to the wind and doing away with the testing requirement for travelers to South Sinai and the Red Sea (<a href=\"https:\/\/www.youtube.com\/watch?v=s8xnbSfG8M4&t=321s\">watch, runtime: 12:13<\/a>).<\/p>\n<p><strong>Uh, let\u2019s not do away with the PCR tests just yet, \u2018k? Thanks. Love, Enterprise.<\/strong><\/p>\n<p>Meanwhile, <strong>Endowments Minister Mohamed Mokhtar Gomaa debriefed Moussa on preparations for the resumption of Friday prayers<\/strong> at \u201cmajor\u201d mosques across the country, including a shortened sermon and regular disinfection (<a href=\"https:\/\/www.youtube.com\/watch?v=0Ngk-Bo5q3s\">watch, runtime: 27:10<\/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\/consumer-protection-authority\/\">Consumer Protection Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"573996\" 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=\"573996\">\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\/26\/did-state-megaprojects-cushion-the-unemployment-blow-from-by-covid-19\/\">\r\n                            Did state megaprojects cushion the unemployment blow from by covid-19?                        <\/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\/26\/did-state-megaprojects-cushion-the-unemployment-blow-from-by-covid-19\/\" target=\"_blank\">\n                    Open in new tab  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src=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/204.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"573997\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/did-state-megaprojects-cushion-the-unemployment-blow-from-by-covid-19\/204-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/204.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"204.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/204.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/204.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-573996\" class=\"content-area-description single-story post-573996 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-construction tag-employment tag-enterpriseam tag-new-administrative-capital tag-new-alamein tag-speed-round wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Did state megaprojects cushion the unemployment blow by covid-19?<\/strong> While unemployment has accelerated since the onset of the covid-19 pandemic, reaching <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80fdf495-1342-4345-a5bd-6387379141bd\">a two year high<\/a> of 9.6% in 2Q2020 up from 7.7% in 1Q2020, national megaprojects may have \u201ccushioned the negative impact of the covid-19 pandemic on Egypt\u2019s economy, especially growth and employment,\u201d argues economics professor at the Sadat Academy for Management Sciences Abdel Mottaleb Abdel Hamid, according to <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/08\/egypt-national-megaprojects-unemployment-coronavirus.html#ixzz6W7U5Mske\">Al Monitor<\/a>.<\/p>\n<p><strong>The building and construction sectors were the most resilient in the face of The Great Lockdown:<\/strong> Where retail and wholesale were decimated \u2014 shedding 624k jobs \u2014 building and construction remained the sector least impacted by the broader economic downturn, only losing 288k jobs since the start of the outbreak, according to <a href=\"https:\/\/ent.news\/2020\/8\/202081710522_labour-force.pdf\">Capmas figures<\/a>. Large infrastructure projects including the new administrative capital, New Alamein and New Galala \u2014 which are highly labor intensive \u2014 avoided some of the disruptions experienced by other sectors in the economy and continued work on schedule, Abdel Hamid says.<\/p>\n<p><strong>Infrastructure-driven growth?<\/strong> Some observers have attributed our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a87de9d-a077-41e0-95c4-cbfd102a17d4\">3.8% GDP growth<\/a> in FY2019-2020 \u2014 which comes as private-sector investment slowed between the months of April and July \u2014 to have been in large part supported by the government\u2019s megaprojects, which were \u201ca pillar of growth during the partial lockdown,\u201d said Abdel Hamid. \u201cWithout the megaprojects, the impact would have been more rigorous,\u201d said Mostafa El-Fiky, financial planner at Saipem.<\/p>\n<p class=\"web-image stand-out-borderless\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/Sodic-man-1600px.jpg?ssl=1\" alt=\"enterprise\" \/><\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/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\/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=\"574009\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574010\" 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=\"574010\">\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\/26\/egypt-in-the-news-on-26-august-2020\/\">\r\n                            Egypt in the news on 26 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\/26\/egypt-in-the-news-on-26-august-2020\/\" target=\"_blank\">\n                    Open in 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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+news+on+26+August+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F08%2F26%2Fegypt-in-the-news-on-26-august-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\/08\/26\/egypt-in-the-news-on-26-august-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574010\" class=\"content-area-description single-story post-574010 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-metoo tag-covid-19 tag-education tag-egypt-in-the-news tag-enterpriseam tag-fairmont-incident tag-gender tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The order to arrest the alleged gang involved in the so-called \u201cFairmont<\/strong><strong> Incident\u201d is leading the conversation<\/strong> on Egypt in the foreign press this morning, with <a href=\"https:\/\/www.arabnews.com\/node\/1724046\/middle-east\">Arab News<\/a> and <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2FR36O\">Reuters<\/a> among those taking note. <a href=\"https:\/\/www.al-fanarmedia.org\/2020\/08\/egyptian-universities-face-pressure-to-better-protect-women-from-harassment\/\">Al Fanar Media<\/a>, meanwhile, was out with a story on how victims of [redacted] assault are accusing university administrations of negligence and failing to stamp out harassment.<\/p>\n<p><strong>Elsewhere in the foreign press:<\/strong> <a href=\"https:\/\/www.arabnews.com\/node\/1724196\/middle-east\">Arab News<\/a> picks up on the idea of a tourism recovery in Egypt in the near term, even with strict measures and requirements that could be cumbersome for travels. <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2020\/08\/egypt-human-rights-defender-bahey-eldin-hassan-handed-outrageous-15-year-prison-sentence\/\">Amnesty International<\/a> was also out with a statement on human rights defender Bahey El-Din Hassan\u2019s sentencing to 15 years in prison.<\/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\/metoo\/\">#MeToo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-in-the-news\/\">Egypt in the News<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fairmont-incident\/\">Fairmont Incident<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574011\" 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=\"574011\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/diplomacy-foreign-trade-on-26-august-2020\/\">\r\n                            Diplomacy + Foreign Trade on 26 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\/26\/diplomacy-foreign-trade-on-26-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/diplomacy-foreign-trade-on-26-august-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\/08\/26\/diplomacy-foreign-trade-on-26-august-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=Diplomacy + Foreign Trade on 26 August 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/diplomacy-foreign-trade-on-26-august-2020\/\">\n                    X                    <!-- <img decoding=\"async\" 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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\/26\/diplomacy-foreign-trade-on-26-august-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574011\" class=\"content-area-description single-story post-574011 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-abdel-fattah-el-sisi tag-diplomacy-foreign-trade tag-enterpriseam tag-ethiopia tag-iraq tag-jordan tag-khaled-megawer tag-king-abdullah-ii tag-libya tag-national-security tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Regional politics \u2014 particularly tensions in Libya \u2014 are the order of the day<\/strong> on the diplomatic front this morning.<\/p>\n<p><strong>Egypt is not in favor of withdrawing Libyan National Army (LNA) forces from the<\/strong><strong> strategic Libyan cities of Sirte and Jufra<\/strong> and turning them into demilitarized zones, Military Intelligence head Khaled Megawer said last week during a meeting with General Khalifa Haftar, <a href=\"https:\/\/www.al-monitor.com\/pulse\/originals\/2020\/08\/egypt-military-official-visit-hifter-libya-turkey-qatar-gna.html#ixzz6W8dKrDHP\">Al Monitor<\/a> reports. Egypt also stressed its rejection of a proposal to divide Libyan territories.<\/p>\n<p><strong>Egypt, Jordan, and Iraq commit to boosting coordination on Libya:<\/strong> President Abdel Fattah El Sisi, Jordan\u2019s King Abdullah, and Iraqi Prime Minister Mustafa Al Kadhimi agreed during a trilateral summit in Amman yesterday to cooperate on reaching a political resolution to the situation in Libya, <a href=\"https:\/\/bit.ly\/3aTB8E6\">Ittihadiya said<\/a>. The three leaders also touched on expanding economic, energy, and infrastructure cooperation and joint investments, as well as regional developments in Syria and Yemen.<\/p>\n<p>And speaking of Iraq: <strong>Baghdad wants to lean on <\/strong><strong>Egyptian construction companies to help<\/strong><strong> with its post-war reconstruction efforts<\/strong>, Iraqi Contractors Federation Chairman Ali Senafi <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25082020&id=89d93400-cd3e-4fd7-9564-347538742cac\">told Housing Minister Assem El Gazzar<\/a> yesterday.<\/p>\n<p>Closer to home, <strong>Ethiopia and Sudan agreed yesterday to step up efforts to reach an<\/strong><strong> agreement<\/strong><strong> with Egypt on the Grand Ethiopian Renaissance Dam<\/strong>, according to a statement cited by <a href=\"https:\/\/www.reuters.com\/article\/us-ethiopia-dam-sudan\/sudan-and-ethiopia-pledge-to-push-for-deal-on-blue-nile-dam-idUSKBN25L24D?il=0\">Reuters<\/a>. The ongoing talks, which seek an agreement on rules to operate and fill the dam, should position GERD as an instrument that promotes regional integration, the two sides said.<\/p>\n<p><strong>The Armed Forces and the Texas Military Department plan to sign a long-term<\/strong><strong> agreement<\/strong> that will see Egypt join <a href=\"https:\/\/www.nationalguard.mil\/Leadership\/Joint-Staff\/J-5\/International-Affairs-Division\/State-Partnership-Program\/\">the State Partnership Program<\/a> and cooperate with the Texas-based national guard to conduct joint training exercises, the <a href=\"https:\/\/bit.ly\/34xgKYd\">US embassy in Cairo said<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-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\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khaled-megawer\/\">Khaled Megawer<\/a>\n                <!-- <span 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\/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\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574015\" 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=\"574015\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/the-market-yesterday-154\/\">\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\/26\/the-market-yesterday-154\/\" 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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CIB, the index\u2019s heaviest constituent, ended up 0.9%. EGX30\u2019s top performing constituents were Orascom Investment Holding up 2.4%, Elsewedy Electric up 1.4%, and Juhayna up 1.2%. Yesterday\u2019s worst performing stocks were Palm Hills Developments down 2.5%, Ezz Steel down 2.1% and Sidi Kerir Petrochemicals down 1.8%. The market turnover was EGP 1.7 bn, and domestic investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net Long | EGP +81.0 mn<br \/>\n <strong>Regional<\/strong>: Net Long | EGP +4.2 mn<br \/>\n <strong>Domestic<\/strong>: Net Short | EGP -85.2 mn<\/p>\n<p><strong>Retail<\/strong>: 69.5% of total trades | 69.3% of buyers | 69.8% of sellers<br \/>\n <strong>Institutions<\/strong>: 30.5% of total trades | 30.7% of buyers | 30.2% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 43.42 (+0.16%)<br \/>\n <strong>Brent:<\/strong> USD 45.86 (+1.62%)<\/p>\n<p><strong>Natural Gas<\/strong> (Nymex, futures prices) USD 2.48 MMBtu, (-0.40%, September 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,935.50 \/ troy ounce (+0.64%)<\/p>\n<p><strong>TASI:<\/strong> 7,938.36 (-0.24%) (YTD: -5.37%)<br \/>\n <strong>ADX:<\/strong> 4,558.70 (-0.25%) (YTD: -10.19%)<br \/>\n <strong>DFM:<\/strong> 2,304.50 (+1.03%) (YTD: -16.65%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,806.17 (+1.13%)<br \/>\n <strong>QE:<\/strong> 9,902.12 (+0.19%) (YTD: -4.95%)<br \/>\n <strong>MSM:<\/strong> 3,730.10 (+1.08%) (YTD: -6.31%)<br \/>\n <strong>BB: <\/strong>1,373.84 (+0.61%) (YTD: -14.68%)<\/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=\"574016\" 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\/26\/574016\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574016\" class=\"content-area-description single-story post-574016 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>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>16 September (Wednesday): The last day for the final results of the senate elections to be announced.<\/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>Late October or November: Voters head to the polls to elect a new House of Representatives. Election dates still TBD.<\/p>\n<p>1 October (Thursday): House of Representatives reconvenes for its sixth and final legislative session before elections for the house later in October or November.<\/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>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\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":573992,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-573991","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f7b3c925-fb5b-4a8e-9cb8-b435982124f4","teaser":"","photo_url":"https:\/\/ent.news\/2020\/8\/201.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>Did Egypt\u2019s megaprojects cushion the economic impact of The Great Lockdown? 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