{"id":574423,"date":"2020-09-09T03:50:38","date_gmt":"2020-09-09T03:50:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=574423"},"modified":"2025-12-16T09:41:43","modified_gmt":"2025-12-16T09:41:43","slug":"bank-abc-is-bidding-for-bloms-egypt-arm-plus-meet-alfredo-abad-eibs-cairo-boss","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/bank-abc-is-bidding-for-bloms-egypt-arm-plus-meet-alfredo-abad-eibs-cairo-boss\/","title":{"rendered":"Bank ABC is bidding for Blom\u2019s Egypt arm.\r\n Plus: Meet Alfredo Abad, EIB\u2019s Cairo boss"},"content":{"rendered":"<section id=\"574425\" 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=\"574425\">\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\/09\/09\/what-were-tracking-on-9-september-2020\/\">\r\n                            What we\u2019re tracking on 9 September 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\/09\/09\/what-were-tracking-on-9-september-2020\/\" target=\"_blank\">\n      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href=\"https:\/\/api.whatsapp.com\/send?text=What+we%E2%80%99re+tracking+on+9+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F09%2Fwhat-were-tracking-on-9-september-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\/09\/09\/what-were-tracking-on-9-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574425\" class=\"content-area-description single-story post-574425 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-carbon-footprint tag-climate tag-covid-19 tag-egyptair tag-electricity tag-energy tag-enterpriseam tag-environment tag-industry tag-joe-biden tag-labor tag-politics tag-russia tag-turkey tag-us tag-work-from-home wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Even if you\u2019re not an infrastructure geek, you\u2019ll want to read this morning\u2019s Hardhat <\/strong><strong>interview with the European Investment Bank\u2019s Alfredo Abad<\/strong>, who covers everything from where the EIB is allocating funds (transportation, wastewater) to why it\u2019s not yet on board with what we think is one of the most critical programs the Madbouly government has yet announced: The push to improve water security through desalination.<\/p><p><strong>The EIB was an early pioneer in putting \u201ceverything green\u201d at the center of its investment <\/strong><strong>decisions<\/strong>, and the twin imperatives of climate change and ESG are only going to accelerate that trend across asset classes and sectors going forward.<\/p><p><strong>Hardhat is one of two weekly deep dives we take into the industries that are shaping our <\/strong><strong>economy \u2014 and our future. <\/strong>It\u2019s presented each Wednesday in association with our friends at Orascom Construction, and we\u2019re proud to have CIRA as our partner for Blackboard, our weekly look at the business of education, which appears every Monday.<\/p><p><strong>What industry should we dive into next? <\/strong>Our plans for this fall and winter include starting research on two more industry verticals (among other products) and we\u2019d love to hear from readers \u2014 what do you want to learn about next? Let us know on editorial@enterprise.press.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>The sell-off resumed on the EGX yesterday<\/strong> as the benchmark index slumped 1.7% by the closing bell. Every sector finished the session in the red, led by NBFS, real estate, and tech. Clothing company Dice saw the biggest losses, closing 7.7% in the red, while Telecom Egypt fell 7% a day after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/820e46d6-b2ea-4c95-bf13-443d2f4a21d8\">a report suggested<\/a> that Saudi Telecom may be looking to reduce its offer for Vodafone\u2019s 55% stake in Vodafone Egypt. Index heavyweight CIB remained comparatively unscathed, falling only 0.4%. Trading was moderate, with EGP 1.2 bn-worth of shares changing hands \u2014 8% above the trailing 90-day average. The EGX30 has now fallen 4.5% since shares began their slide on 30 August, and <strong>is down 21.6% year-to-date<\/strong>.<\/p><p><strong>The downbeat performance here at home mirrored developments in the global markets,<\/strong> which saw last week\u2019s US <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eee3536-dce6-4332-923d-5ff1d6a4927b\">tech sell-off<\/a> gather pace. Benchmark Wall Street indices fell for the third consecutive session as investors continued to bail on tech stocks following an unprecedented five-month boom that saw valuations reach dot-com-esque levels. Tesla\u2019s James Bond villain-in-waiting saw his stock record its worst ever single-day performance as the tech-dominated Nasdaq lost 4.4%, leaving it 11% off its peak last Wednesday. The S&amp;P 500 lost almost 3% and the Dow closed 2.3% in the red.<\/p><p><strong>After shrugging off events on Wall Street on Monday, European stocks sold-off yesterday,<\/strong> with indices across the continent losing 1-2% by the close of play.<\/p><p><strong>EM stocks, meanwhile, have an entirely different problem:<\/strong> The escalating covid case rate in major emerging markets since late July is starting to put pressure on equities, with the MSCI EM Index falling almost 3% during the period, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-08\/emerging-market-stocks-weighed-down-by-raging-virus-pandemic?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><p><strong>Oil prices also took another tumble yesterday<\/strong>, with Brent crude falling more than 5% to USD 39.93\/bbl \u2014 the first time it has dropped below the USD 40 since June \u2014 and US crude plunging 7.2% to USD 36.89\/bbl. Unyielding covid infection rates in countries like India, the US, UK and Spain have dampened the demand outlook for the rest of the year, and Saudi Arabia\u2019s state oil company Aramco on Sunday cut its October selling prices, <a href=\"https:\/\/www.reuters.com\/article\/us-global-oil\/oil-prices-dive-hit-lowest-since-june-on-saudi-price-cut-covid-flare-ups-idUSKBN25Z0BE\">Reuters<\/a> reports.<\/p><p><strong>Asian shares are down this morning in early trading this morning <\/strong>and both European and US futures are in the red.<\/p><hr class=\"grey-line\"><p><strong>Today is the last day to vote in the Senate run-off elections<\/strong>, which will see the remaining 26 elected members nominated to sit in the upper chamber. The first-round of voting last month saw <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/caacfa43-9823-42c2-b386-17e9406becd2\">174 representatives elected<\/a> to the 300-seat Senate. The president will appoint the remaining 100 members after the results of the run-off <strong>are announced on Wednesday, 16 September.<\/strong><\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/2R6wBVN\">reported<\/a><\/strong><strong> 187 new covid-19 infections yesterday<\/strong>, up from 178 the day before. Egypt has now disclosed a total of 100,228 confirmed cases of covid-19. The ministry also reported 19 new deaths, bringing the country\u2019s total death toll to 5,560. We now have a total of 79,886 confirmed cases that have fully recovered.<\/p><p><strong>Russian airliner, Aeroflot, will relaunch flights between Cairo and Moscow today,<\/strong> operating three trips a week, according to <a href=\"https:\/\/www.aeroflot.ru\/ru-en\/news\/61832?_preferredLanguage=en&amp;_preferredLocale=ru&amp;fbclid=IwAR2iptnnZGRIwU-C_4EwfbUgJMOOQ9UyhcPZRMZWOemWWaR4avPKS-qSN7k\">an AeroFlot statement<\/a>. Today\u2019s Aeroflot flight is already fully booked, said Egypt\u2019s ambassador in Moscow Ehab Nasr in an interview with Sada El Balad\u2019s Azza Moustafa (<a href=\"https:\/\/www.youtube.com\/watch?v=OZPVkuWjzNs&amp;feature=emb_logo\">watch, runtime: 7:38<\/a>).<\/p><p><strong>Dutch flag carrier KLM also <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7281c1d2-31c5-44e0-b8a8-86835f608b13\">makes its return to Egypt today<\/a><\/strong><strong> following a three-year <\/strong><strong>hiatus.<\/strong> The airline will operate two weekly flights between Cairo and Amsterdam from 9 September to 25 October.<\/p><p><strong>EgyptAir will begin <\/strong><strong><a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/379600\/Egypt\/Politics-\/EgyptAir-announces-three-weekly-flights-to-Moscow-.aspx\">operating three flights a week<\/a><\/strong><strong> between Cairo and Moscow <\/strong><strong>starting Thursday 17 September.<\/strong> Flights will run Saturdays, Tuesdays and Thursdays. Passengers will be required to present a negative PCR test result issued 72 hours before arrival in Moscow, as per Russia\u2019s anti-covid precautions.<\/p><p><strong>Globally: \u201cAstraZeneca stopped giving shots of its experimental coronavirus vaccine <\/strong>after a person participating in one of the company\u2019s studies got sick, a potential adverse reaction that <strong>could delay or derail efforts to speed an immunization<\/strong> against covid-19 for the world,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-08\/astrazeneca-shares-fall-on-report-of-vaccine-trial-setback?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. <a href=\"https:\/\/www.cnbc.com\/2020\/09\/08\/astrazeneca-shares-fall-after-coronavirus-vaccine-study-is-put-on-hold.html\">CNBC<\/a> also has the story.<\/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\/9\/SOMA-ENTERPRISE-AUG2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>Military talks between Turkey and Greece at NATO headquarters in Brussels have <\/strong><strong>been postponed until Thursday, <\/strong><a href=\"https:\/\/www.reuters.com\/article\/us-turkey-greece-nato\/turkish-greek-military-talks-postponed-until-thursday-turkish-sources-idUSKBN25Z282\">Reuters<\/a> reports, citing unnamed informed sources. With <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e490272-38d3-4382-9e18-bd6db362d27d\">tensions flaring between the two countries<\/a> in recent weeks over Turkey\u2019s energy exploration in the eastern Mediterranean, the \u201cmilitary de-confliction\u201d talks will not attempt to resolve the territorial dispute, but try to establish a hotline between the two militaries and consistent use of naval call signs, to avoid incidents like the collision last month between Greek and Turkish warships.<\/p><p><strong>The Donald will host a signing ceremony on 15 September between Israel and the <\/strong><strong>UAE<\/strong> to formalize last month\u2019s historic agreement to establish diplomatic ties, <a href=\"https:\/\/www.reuters.com\/article\/us-israel-emirates-usa\/trump-to-host-israel-united-arab-emirates-deal-signing-ceremony-on-sept-15-idUSKBN25Z2VO\">Reuters<\/a> reports, citing a senior White House official.<\/p><p><strong>Never trust the Brits:<\/strong> The UK is threatening to break international law to force through its version of a post-Brexit trade accord with the EU by the 31 January deadline with an air of nonchalance that has stakeholders concerned, the <a href=\"https:\/\/apnews.com\/fcf35262c37dd0a0eade0bf85e907769\">Associated Press<\/a> reports. The UK had agreed to maintain an open border between Northern Ireland (part of the UK) and EU member Ireland as part of the withdrawal agreement signed earlier this year, but is now trying to bypass that commitment to the understandable chagrin of the EU.<\/p><p><strong>This has raised fears that the UK is about to commit ritual seppuku by crashing out of the EU during the worst global recession of our lifetimes.<\/strong> The GBP-USD rate <a href=\"https:\/\/www.fxstreet.com\/news\/forex-today-hard-brexit-fears-pound-the-pound-dollar-bid-on-us-sino-woes-202009080536\">hit two-week lows yesterday<\/a> as traders priced in the growing risk of a hard Brexit.<\/p><hr class=\"grey-line\"><p><strong>US ELECTION WATCH- King Cheeto could be left searching for pennies as<\/strong> <strong>campaigning enters decisive phase:<\/strong> The Donald\u2019s re-election campaign is running short on cash after blowing more than three-quarters of its USD 1.1 bn war chest with 60 days still to go until election day, <a href=\"https:\/\/www.nytimes.com\/2020\/09\/07\/us\/politics\/trump-election-campaign-fundraising.html\">the New York Times<\/a> reports. With Trump having splurged USD 800 mn on fund-raising, staff, legal costs and a pre-convention ad-buy, the once-cash-strapped Biden campaign is raking in the donor money and now enjoys a huge financial advantage as campaigning enters the crucial final phase. The situation is so dire that Trump is reportedly now <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-08\/trump-weighs-putting-up-to-100-million-of-his-cash-into-race\">considering pumping in USD 100 mn of his own money<\/a> to see him through to election day.<\/p><p><strong>Attention all iSheep: Put 15 September in your diaries,<\/strong> as Apple hosts a \u201cspecial event\u201d to unveil the latest generation of (some of?) its flagship products, <a href=\"https:\/\/www.reuters.com\/article\/us-apple-event\/apple-plans-special-event-for-september-15-new-products-anticipated-idUSKBN25Z2HM\">Reuters<\/a> reports. <strong>But don\u2019t expect a new iPhone <\/strong>just yet \u2014 <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-08\/apple-to-hold-online-launch-event-on-sept-15?sref=mmeFTDW1\">Bloomberg<\/a> says the online-only event will focus almost exclusively on the Apple Watch, while the Apple blogosphere suggests it could also feature a new iPad.<\/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 talk to Alfredo Abad, head of the European Investment Bank\u2019s Cairo office, about the bank\u2019s funding plans, obstacles to infrastructure development in Egypt, and how the economic downturn caused by the pandemic is likely to affect investment going forward.<\/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\/carbon-footprint\/\">carbon footprint<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/plans-for-the-new-academic-year-was-the-hot-topics-on-last-nights-talk-shows\/\">\r\n                            Plans for the new academic year was the hot topics on last night\u2019s talk shows                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/plans-for-the-new-academic-year-was-the-hot-topics-on-last-nights-talk-shows\/\" target=\"_blank\">\n                   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          <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Plans for the new academic year was the hot topics on last night\u2019s talk shows&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/plans-for-the-new-academic-year-was-the-hot-topics-on-last-nights-talk-shows\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/plans-for-the-new-academic-year-was-the-hot-topics-on-last-nights-talk-shows\/&title=Plans for the new academic year was the hot topics on last night\u2019s talk shows\">\n                    LinkedIn                    <!-- <img decoding=\"async\" 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class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574427\" class=\"content-area-description single-story post-574427 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-education tag-egyptian-commodities-exchange tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-ibrahim-ashmawy tag-schools tag-tarek-shawky tag-thanaweya-amma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Education Minister Tarek Shawki stole the limelight on the airwaves last night,<\/strong> with much of the coverage dedicated to poring over the ministry\u2019s newly-announced plans for the coming school year.<\/p>\n<p><strong>Plans for new academic year: <\/strong>Shawki called in to Yahduth Fi Misr\u2019s Sherif Amer to explain that the restrictions are allowing the ministry to roll-out plans it has been mulling for as long as two years. Each school will still have its own system, deciding at its own discretion how many of the ministry\u2019s recommendations it will follow, and will inform parents of the exact schedules once the academic year starts, he added <a href=\"https:\/\/www.youtube.com\/watch?v=2lQ0bQEFeeU&t=1248s\">(watch, runtime: 24:41)<\/a>. Al Hayah Al Youm\u2019s Khaled Abu Bakr also spoke with Shawky to cover the topic <a href=\"https:\/\/www.youtube.com\/watch?v=n2y4AYsegtA\">watch, runtime: 35:03)<\/a>. We have a complete rundown of the ministry\u2019s recommendations in today\u2019s Speed Round below.<\/p>\n<p>Other key takeaways from the Shawki interview:<\/p>\n<ul>\n<li><strong>Measures to prevent leaks:<\/strong> Computer software will generate four different final high school (thanaweya amma) exams to prevent questions from being leaked.<\/li>\n<li><strong>The digital divide:<\/strong> There will be digital resources made available to help students prepare for the examinations, which will necessitate setting up digital libraries in poor villages lacking adequate internet.<\/li>\n<\/ul>\n<p><strong>Covid-19 precautions in schools: <\/strong>Ala Mas\u2019ouleety\u2019s Ahmed Moussa spoke with former health minister Ashraf Hatem who discussed the various precautions students can take to stay vigilant amid the covid-19 pandemic. He didn\u2019t have much to say beyond the standard issue \u201cwear face masks\u201d and \u201cmaintain social distancing,\u201d but he notably raised <strong>the possibility of a second wave rearing its head in November during the onset of flu season<\/strong>, emphasizing the importance that precautionary measures are enforced in all schools <a href=\"https:\/\/www.youtube.com\/watch?v=fM1Lk5IlzIE\">(watch, runtime: 9:03)<\/a>.<\/p>\n<p><strong>New commodities exchange:<\/strong> On Monday night, Al Hayah Al Youm\u2019s Lobna Assal spoke with Ibrahim Ashmawy, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d41d4a55-26e7-48e2-a7ed-fa8a4d024224\">newly-appointed chairman<\/a> of the forthcoming commodity exchange, who said that the new exchange would contribute to increasing the supply of key goods, thus reducing their prices. Ashmawy added that the first supply outlet has been opened in partnership with the private sector, selling commodities from 30k producers. He noted that the exchange has already held organizational and administrative meetings, but could not confirm when it would go live with trading or which commodities will be made available for trading <a href=\"https:\/\/www.youtube.com\/watch?v=GjtE0HN28Cg\">(watch, runtime: 8:35)<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-commodities-exchange\/\">Egyptian Commodities Exchange<\/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\/ibrahim-ashmawy\/\">Ibrahim Ashmawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schools\/\">Schools<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawky\/\">Tarek Shawky<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thanaweya-amma\/\">Thanaweya Amma<\/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=\"574428\" 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=\"574428\">\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\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/\">\r\n                            Bahrain\u2019s Bank ABC confirms early talks to acquire Blom Bank Egypt                        <\/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\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/\" 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\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/')\">\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\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/\">\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=Bahrain\u2019s Bank ABC confirms early talks to acquire Blom Bank Egypt&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/\">\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\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/&title=Bahrain\u2019s Bank ABC confirms early talks to acquire Blom Bank Egypt\">\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=Bahrain%E2%80%99s+Bank+ABC+confirms+early+talks+to+acquire+Blom+Bank+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F09%2Fbahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt%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\/09\/09\/bahrains-bank-abc-confirms-early-talks-to-acquire-blom-bank-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574428\" class=\"content-area-description single-story post-574428 post type-post status-publish format-standard hentry category-speed-round tag-bank-abc tag-banking tag-enterpriseam tag-gcc tag-ma-watch 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>M&A WATCH- Bahrain\u2019s Bank ABC confirms early talks to acquire Blom Bank <\/strong><strong>Egypt: <\/strong>Bahrain\u2019s Arab Banking Corporation (Bank ABC) has confirmed that it\u2019s engaged in talks to acquire the Egyptian business of Blom Bank, saying in <a href=\"https:\/\/www.bahrainbourse.com\/sysimages\/companyannouncement\/documents\/Response%20to%20Bahrain%20Bourse_Clarification%20on%20issued%20article%20-%2008%20Sep%202020.pdf_46835.pdf?637351814289913664&tick=1599573824400\">a statement<\/a> that the negotiations are still at early stages. \u201cSuch discussions are at a preliminary stage, but there is no certainty that any transaction will be completed,\u201d the bank said.<\/p>\n<p><strong>Background: <\/strong>News that Bank ABC is interested in Blom\u2019s assets was first reported late <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a71b193-2d31-407a-b433-c44a237d218c\">last month<\/a>. It then emerged that Bank ABC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2676a4d5-f57c-4811-bdf3-921ab2ffc8a5\">has asked<\/a> the CBE for a green light to start the due diligence process. The Bahraini bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c344240-d2aa-4bbd-b104-8eb8c7640b9c\">is competing<\/a> with fellow GCC lender Emirates NBD, which is now doing DD and could reportedly value Blom\u2019s Egypt arm at USD 250-300 mn. Blom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c516247-c57d-49ad-a7bc-e20dc516e2b5\">confirmed earlier this month<\/a> it is looking to sell its Egypt assets as its home country suffers its worst economic crisis in decades. Both Reuters and local media report that Blom has hired CI Capital to advise on the sale. Another Lebanese bank, Bank Audi, is also eyeing an exit from Egypt, and could soon <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23918bcf-5e12-4ca5-b57e-940723993ef5\">revive talks<\/a> with First Abu Dhabi Bank, a frontrunner in its potential takeover.<\/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\/bank-abc\/\">Bank ABC<\/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\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/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=\"574441\" 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=\"574441\">\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\/09\/09\/egypt-in-the-news-on-9-september-2020\/\">\r\n                            Egypt in the News on 9 September 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\/09\/09\/egypt-in-the-news-on-9-september-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\/09\/09\/egypt-in-the-news-on-9-september-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\/09\/09\/egypt-in-the-news-on-9-september-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News on 9 September 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/egypt-in-the-news-on-9-september-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/egypt-in-the-news-on-9-september-2020\/&title=Egypt in the News on 9 September 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News+on+9+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F09%2Fegypt-in-the-news-on-9-september-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\/09\/09\/egypt-in-the-news-on-9-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574441\" class=\"content-area-description single-story post-574441 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-covid-19 tag-egypt-in-the-news tag-enterpriseam tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a slow morning in the foreign press: <\/strong><a href=\"https:\/\/www.economist.com\/middle-east-and-africa\/2020\/09\/03\/egypt-looks-to-prosecute-millions-of-non-voters?utm_campaign=later-linkinbio-theeconomist&utm_content=later-9887592&utm_medium=social&utm_source=instagram\">The Economist<\/a> is out with a piece on the recent move by authorities to prosecute 54 mn people who didn\u2019t vote in last month\u2019s Senate elections. The piece mulls whether the decision is an empty threat to spur people to vote or if the state will actually go through with the prosecution and collect the EGP 27 bn in fines. But as anyone who has lived through the 2.5 mn or so elections and referenda we\u2019ve had since 2000 can tell you:<strong> This story is evergreen \u2014 it appears after every election, and then quietly fades away. <\/strong><\/p>\n<p><strong>Meanwhile, Egypt has walk-on parts in two FT stories this morning<\/strong>, including a look at <a href=\"https:\/\/www.ft.com\/content\/e20ae4b9-bc22-4cb5-aaf6-b67c885c845c\">how China\u2019s Mideast strategy is winning<\/a> at the expense of the United States (courtesy of the Opinion section) and then a bigger role in an explainer headlined <a href=\"https:\/\/www.ft.com\/content\/e872ed5d-1f64-48ae-8b8d-d6b49476e749\">What is at stake in the eastern Mediterranean crisis?<\/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\/ancient-egypt\/\">Ancient Egypt<\/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\/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\/politics\/\">politics<\/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=\"574442\" 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=\"574442\">\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\/09\/09\/abdel-aty-is-heading-to-south-sudan-today-to-discuss-cooperation-in-water-resource-management\/\">\r\n                            Abdel Aty is heading to South Sudan today to discuss cooperation in water resource management                        <\/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\/09\/09\/abdel-aty-is-heading-to-south-sudan-today-to-discuss-cooperation-in-water-resource-management\/\" 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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A previous ban <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0eae7fb-015a-4ba3-84f2-462d92178678\">imposed in June<\/a> was due to expire this month. The move is meant to protect sugar producers from a potential flood of cheap imports, as sugar prices fell in parallel with the crash in the oil markets, Trade Minister Nevine Gamea said. Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4158fa79-d4ed-4ad0-8d6b-3b2aecde2f73\">had planned to increase sugar production<\/a> to 2.5-2.6 mn tonnes in FY2020-2021, up from 2.48 mn tonnes last year.<\/p>\n<p><strong>Egyptian exports to Brazil have surged 74% in the three years since the <\/strong><strong>Egypt-Mercosur trade agreement<\/strong><strong> was signed, <\/strong>the <a href=\"https:\/\/anba.com.br\/en\/egypt-brazil-sales-up-74-with-mercosur-agreement\/\">Brazil-Arab News Agency (ANBA)<\/a> reported, marking the occasion of the third anniversary on 1 September. Egypt\u2019s imports of Brazilian products, meanwhile, have increased by more than a fifth during the period.<\/p>\n<p><strong>Meanwhile, Nile diplomacy continues:<\/strong> Irrigation Minister Mohamed Abdel Aty was in South Sudan yesterday to discuss cooperation in water resource management and irrigation projects following an invitation from South Sudanese Water and Irrigation Minister Manawa Peter Kadkouth, according to <a href=\"https:\/\/bit.ly\/3m4WVOC\">a cabinet statement<\/a>. Abdel Aty is expected to inspect a number of Egypt-developed drinking water and irrigation canal projects that began in 2014 after a technical cooperation and development agreement was signed between the two countries. Expect South Sudan to feature heavily in our diplomatic agenda as the stalemate on GERD continues.<\/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\/brazil\/\">Brazil<\/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\/mohamed-abdel-aty\/\">Mohamed Abdel Aty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-sudan\/\">South Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574446\" 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=\"574446\">\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\/09\/09\/the-market-yesterday-164\/\">\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\/09\/09\/the-market-yesterday-164\/\" 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 down 0.4%. EGX30\u2019s top performing constituents was CIRA, up 0.1%. Yesterday\u2019s worst performing stocks were Dice down 7.7%, Telecom Egypt down 7.0% and Orascom Development Egypt down 5.8%. The market turnover was EGP 1.2 bn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -107.7 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +27.3 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +80.4 mn<\/p>\n<p><strong>Retail<\/strong>: 73.9% of total trades | 75.1% of buyers | 72.6% of sellers<br \/>\n <strong>Institutions<\/strong>: 26.1% of total trades | 24.9% of buyers | 27.4% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 36.89 (-7.24%)<br \/>\n <strong>Brent:<\/strong> USD 39.89 (-5.05%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.37 MMBtu, (-8.62%, October 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,937.90 \/ troy ounce (+0.19%)<\/p>\n<p><strong>TASI:<\/strong> 8,089 (+0.49%) (YTD: -3.57%)<br \/>\n <strong>ADX:<\/strong> 4,519 (+0.26%) (YTD: -10.96%)<br \/>\n <strong>DFM:<\/strong> 2,287 (+0.73%) (YTD: -17.25%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,815 (+0.14%)<br \/>\n <strong>QE:<\/strong> 9,760 (+0.36%) (YTD: -6.38%)<br \/>\n <strong>MSM:<\/strong> 3,701 (-0.14%) (YTD: -7.03%)<br \/>\n <strong>BB: <\/strong>1,402 (-0.18%) (YTD: -12.91%)<\/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=\"574447\" 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\/09\/09\/574447\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574447\" class=\"content-area-description single-story post-574447 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>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>September: 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>5-9 September (Saturday-Wednesday): China International Fair for Trade-In Services (<a href=\"https:\/\/conference-agenda.ciftis.org\/agenda\">CIFTIS<\/a>), Beijing National Convention Center, China. Registration can be found <a href=\"https:\/\/login.ciftis.org\/entry\/card\">here<\/a>.<\/p>\n<p>8 September (Tuesday): The Education Ministry will announce what the school year will look like for both private and public schools.<\/p>\n<p>8 September (Tuesday): Online Egyptian-Bahraini Businessmen Association meeting <a href=\"https:\/\/www.alborsaanews.com\/2020\/08\/27\/1377531\">to discuss<\/a> mutual trade and investment opportunities.<\/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 September (Monday): Postponed EU-China summit in Leipzig to be held as a video conference, <a href=\"https:\/\/www.scmp.com\/news\/china\/diplomacy\/article\/3098266\/china-eu-special-summit-have-trade-focus-us-election-looms\">focus on trade<\/a>.<\/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>Mid-September: Proposed time slot for UAE-Israel normalization agreement signing ceremony which will be held in Washington, US.<\/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>24-25 September (Thursday-Friday): The European Union <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N2FU544\">will discuss<\/a> imposing sanctions on Turkey to limit the country\u2019s ability to expand its search for oil and gas in contested eastern Mediterranean waters.<\/p>\n<p>27 September (Sunday): Former Finance Minister Youssef Boutros Ghali to be retried on charges he squandered public funds in a case related to the printing of coupons for butane canisters.<\/p>\n<p>End of September: <a href=\"https:\/\/bit.ly\/2GaTjtH\">Last chance to settle building code violations<\/a> for illegal buildings.<\/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>2 November: Former Civil Aviation Minister Ahmed Shafik faces <a href=\"https:\/\/bit.ly\/3lwPXla\">retrial<\/a> at Cairo Court of Appeals in so-called Aviation Ministry corruption case.<\/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>15 November (Sunday): Egyptian Tax Authority\u2019s <a href=\"https:\/\/bit.ly\/32UQfK0\">online intro seminar<\/a> on new electronic invoice system for first tranche of companies transitioning to e-filing program.<\/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>13-31 January (Wednesday-Sunday): Egypt will host the 2021 <a href=\"https:\/\/www.handballegypt2021.com\/\">Men\u2019s Handball World Championship<\/a> at the Giza Pyramids<\/p>\n<p>25 January 2021 (Monday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26-28 January (Tuesday-Thursday): Future Investment Initiative, Riyadh, Saudi Arabia<\/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":574424,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-574423","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"279ce56f-20eb-44c4-8d0f-acf1bd938a6b","teaser":"","photo_url":"https:\/\/ent.news\/2020\/9\/114.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>Bank ABC is bidding for Blom\u2019s Egypt arm.  Plus: Meet Alfredo Abad, EIB\u2019s Cairo boss - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/bank-abc-is-bidding-for-bloms-egypt-arm-plus-meet-alfredo-abad-eibs-cairo-boss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank ABC is bidding for Blom\u2019s Egypt arm.  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