{"id":574457,"date":"2020-09-10T04:09:13","date_gmt":"2020-09-10T04:09:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=574457"},"modified":"2025-12-16T09:43:07","modified_gmt":"2025-12-16T09:43:07","slug":"new-details-on-egycomex-including-confirmation-of-private-sector-stakes","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/new-details-on-egycomex-including-confirmation-of-private-sector-stakes\/","title":{"rendered":"New details on Egycomex, including confirmation of private-sector stakes"},"content":{"rendered":"<section id=\"574459\" 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=\"574459\">\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\/10\/what-were-tracking-on-thursday-10-september-2020\/\">\r\n                            What we\u2019re tracking on Thursday, 10 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\/10\/what-were-tracking-on-thursday-10-september-2020\/\" target=\"_blank\">\n                  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format-standard hentry category-what-were-tracking-today tag-batteries tag-carbon-footprint tag-covid-19 tag-enterpriseam tag-environment tag-health tag-inflation tag-joe-biden tag-manufacturing tag-oil-and-gas tag-renewables tag-technology tag-unilever 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>After six months of WFH, the office is very much on our mind as we prepare to slip into <\/strong><strong>the weekend. <\/strong>As the <a href=\"https:\/\/www.wsj.com\/articles\/we-cant-just-limp-along-americans-reinvent-fall-11599511767\">WSJ recently put it<\/a>, it\u2019s fall \u2014 and instead of the usual seasonal routines, \u201cworkers are overhauling routines and home offices, families are creating new rituals and businesses are trying new ways to energize employees \u2014 all with an eye toward making things work in the long term.\u201d<\/p><p><strong>The challenge, as we\u2019ve written before, is that culture is made in the office \u2014 and tested <\/strong><strong>remotely. <\/strong>How do you make newcomers part of your culture (let alone see them leave their own mark on it) when you never or rarely work face-to-face? How do we preserve and strengthen the ties that make us all a team? The FT\u2019s management editor, Andrew Hill, shares our preoccupation in <a href=\"https:\/\/www.ft.com\/content\/3c3f5f1e-8402-4331-8591-e2b667873605\">This is our big chance to create better workplaces<\/a> (part of the FT\u2019s <a href=\"https:\/\/www.ft.com\/rebootingworkplace\">new series on reinventing the workplace<\/a>) but doesn\u2019t yet have much in the way of answers.<\/p><p><strong>Is the worm turning against WFH? <\/strong>Blackstone and Advent are paying for taxis and covid-19 tests to bring staff back in, convinced that private equity can only be successful if there is \u201cface-to-face contact and relationship-building,\u201d <a href=\"https:\/\/www.ft.com\/content\/cd281b9e-83f3-4916-94a2-e82336d21eb3\">the FT<\/a> tells us. And <strong><a href=\"https:\/\/www.wsj.com\/articles\/netflixs-reed-hastings-deems-remote-work-a-pure-negative-11599487219\">Netflix CEO Reed Hastings calls remote work a \u201cpure negative\u201d<\/a><\/strong> in a really solid interview, even as he leaves his team at home until \u201cprobably six months after a vaccine\u201d is introduced. \u201cDebating ideas is harder now,\u201d he says, clearly looking forward to a day when \u201cthe five-day workweek will become four days in the office while one day is virtual from home.\u201d<\/p><hr class=\"grey-line\"><p><strong>Meanwhile: <\/strong><strong>It\u2019s inflation day: <\/strong>Capmas and the CBE are expected to release inflation data for August today. Annual headline inflation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55dfb38b-b3e4-4641-ba16-43c9425307a9\">fell to 4.2% in July<\/a> from June\u2019s seven-month high of 5.6% as food prices fell for the third consecutive month. Pharos Holdings is expecting annual inflation to inch back up to some 4.5% in August and end the year at 6%.<\/p><p><strong>This month\u2019s figure is expected to feature heavily on the CBE\u2019s monetary policy <\/strong><strong>committee<\/strong> when it meets to decide on interest rates on <strong>Thursday, 24 September<\/strong>. We\u2019ll have our customary poll of analysts ahead of the decision for some guidance on which way things could go.<\/p><p><strong>Keep an eye on food prices in particular: <\/strong>Global food prices reached a 6-month high in August thanks to the confluence of a weak USD and stronger global demand for commodities used in food production, according to the <a href=\"http:\/\/www.fao.org\/worldfoodsituation\/foodpricesindex\/en\/\">Food and Agriculture Organization (FAO) Food Price Index<\/a>. Food prices were up 2% m-o-m in August, for a third consecutive month, according to FAO.<\/p><p><strong>This comes as we still face the prospect of a \u201cdisruption in domestic food <\/strong><strong>supply chains\u201d thanks to the pandemic<\/strong>, as <a href=\"https:\/\/www.worldbank.org\/en\/topic\/agriculture\/brief\/food-security-and-covid-19\">the World Bank<\/a> recently noted. Food insecurity could still show up later as farmers face challenges in getting food products to market and getting their hands on production inputs.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>So much for the global markets meltdown? <\/strong>The EGX mirrored regional exchanges, closing down just 0.2% yesterday. Trading was moderate, with EGP 1 bn-worth of shares changing hands \u2014 10% below the trailing 90-day average.<\/p><p><strong>Over in the US and Europe, investors are buying the dip from <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6000d48a-dc88-4df7-a6c9-c743d0e2f90e\">the US tech<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6000d48a-dc88-4df7-a6c9-c743d0e2f90e\">selloff<\/a><\/strong><strong>.<\/strong> The Nasdaq had its best day since April, rising 2.7% as investors jumped back into tech stocks following a three-day sell-off that plunged the index into correction territory. The S&amp;P, Dow and Euro Stoxx all closed up 1.6-2.0%.<\/p><p><strong>Futures at dispatch sign point to lower openings <\/strong>today for Wall Street, the DAX and Euro Stoxx, but Asian markets are broadly in the green in early trading.<\/p><p>Meanwhile, <strong>Brent crude <\/strong><strong>clawed its way above USD 40 \/ bbl<\/strong><strong> amid the broader market<\/strong><strong> rebound,<\/strong> rising 2.1% during trading. US crude also bagged gains, up 3.5% to finish at USD 38\/bbl. <strong>Don\u2019t expect this to last though, as Saudi Arabia refuses to cut production<\/strong>, fearing that doing so would only lead to OPEC+ producers taking advantage and increasing supply, the <a href=\"https:\/\/www.ft.com\/content\/ad2dd18b-21a7-40c6-8fbb-2a670e879a0a\">Financial Times<\/a> reports, citing unnamed sources familiar with the Kingdom\u2019s plans.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/33dMf7p\">reported<\/a><\/strong><strong> 175 new covid-19 infections yesterday<\/strong>, down from 187 the day before. Egypt has now disclosed a total of 100,403 confirmed cases of covid-19. The ministry also reported 17 new deaths, bringing the country\u2019s total death toll to 5,577. We now have a total of 80,689 confirmed cases that have fully recovered.<\/p><p><strong>Covid-19 has been good to Souq: <\/strong>Amazon\u2019s Souq has seen both new customer numbers and orders figures rise in Egypt over the past few months as shoppers go online thanks to covid-19, Egypt CEO Omar El Sahy told <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/379467\/Business\/Economy\/INTERVIEW-Egypt-is-a-large,-important-market-for-S.aspx\">Ahram Online<\/a>. The increase was significant in the FMCG sector, especially groceries, hygiene products, and WFH supplies, El Sahy added. \u201cWe have also seen an increase in purchases in lifestyle categories, including kitchenware, entertainment and sports equipment.\u201d <strong>Souq sees online commerce continuing to boom<\/strong>, and there\u2019s plenty of room to row: The Institute of National Planning reports that just 8% of the country\u2019s total internet users (or 4.8 mn people) made online orders before the pandemic.<\/p><p><strong>Medical industry wants permission to resume exports as export ban is set to expire:<\/strong> The Medical Industry Export Council is lobbying the government to put an end to an export ban on protective equipment as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af81957d-44fe-4def-a044-69261abcceb7\">local demand slides<\/a>, <a href=\"https:\/\/alborsaanews.com\/2020\/09\/08\/1380708\">the domestic press<\/a> reports. \u201cThe state should capitalize on production surpluses,\u201d by allowing exports, at least until the threat of a second wave becomes clear, said council chairman Maged George. The request ahead of the Trade Ministry\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4155b862-a216-403f-ad34-18a6b40ebf19\">six-month export ban<\/a> on masks, disinfectants and PPE ending in mid-September.<\/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>Is there a move afoot to make us kiss and make up with Qatar? <\/strong>David Schenker, the US State Department\u2019s top diplomat for the Middle East, said that negotiations to end the three-year boycott of Qatar by Egypt, the UAE and Saudi Arabia are becoming more flexible, <a href=\"https:\/\/www.reuters.com\/article\/us-gulf-crisis-qatar-usa\/progress-in-resolving-gulf-arab-rift-could-come-within-weeks-u-s-official-says-idUSKBN2602JW\">Reuters<\/a> reports.<\/p><p><strong>That contract Ethiopia signed in June to lobby the US doesn\u2019t seem to be working out <\/strong><strong>too well for them \u2014 will they rehire or fire?<\/strong> After Ethiopia <a href=\"https:\/\/efile.fara.gov\/docs\/6594-Exhibit-AB-20200714-4.pdf\">enlisted US law firm Barnes &amp; Thornburg (pdf)<\/a> to lobby for US support for their position on the Grand Ethiopian Renaissance Dam at the end of June, the US has since taken a public stance on the dispute by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42548a58-6d51-48b8-8290-7ff439f618e0\">suspending some USD 100 mn of aid<\/a> to Addis Ababa for failing to reach an agreement. With the three-month contract expiring at the end of September, will the Ethiopians be looking to renew the contract?<\/p><p><strong>Egypt is still <\/strong><strong>hammering out a new trade agreement with<\/strong> <strong>the UK as Britain braces for a hard exit from the European Union<\/strong><strong>.<\/strong> Talks are still focused on final details including the volume of Egyptian agricultural exports that will be sent to the UK and the customs we\u2019ll see imposed on the goods, according to Ahmed Maghawry, head of the Commercial Representation Authority at the Trade Ministry, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=09092020&amp;id=46a8560d-a917-4106-83f5-f9e64c79be3e\">Al Shorouk<\/a>. <strong>The <\/strong><strong>talks are expected to come to a close by the end of 2020<\/strong>.<\/p><p><strong>Meanwhile, Boris is still wildin\u2019 out at the Brexit talks:<\/strong> Boris Johnson is still urging UK MPs to support a bill that the European Union thinks is a contravention of international law, <a href=\"https:\/\/www.bbc.com\/news\/uk-politics-54003483\">the BBC<\/a> reports. The Internal Markets Bill would see the UK breach the Withdrawal Agreement by ignoring customs terms agreed for Northern Ireland, a move that European Commission President Ursula von der Leyen said \u201cundermines trust.\u201d<\/p><p><strong>In related news, the European Central Bank (ECB) is urging banks to pick up the pace<\/strong> <strong>in relocating operations from the UK to the EU <\/strong>as they approach the Brexit transition deadline at the end of this year, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-09\/ecb-keeps-up-pressure-on-banks-to-deliver-on-brexit-preparation?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><hr class=\"grey-line\"><p><strong>US ELECTION WATCH- Is this the worst-case election scenario for an America <\/strong><strong>divided? <\/strong>Data analytics company Hawkfish is sounding a pre-emptive alarm over the possibility of what it\u2019s terming a \u201cred mirage\u201d on the night of the US election. In an interview with Axios that aired on HBO last week (<a href=\"https:\/\/www.youtube.com\/watch?v=C74GXN2fock\">watch, runtime: 6:43<\/a>), Hawkfish\u2019s CEO says that it is likely that The Donald will appear to have won on election night, but as mailed in ballots are tallied over the following week \u2013 an estimated 40% of the electorate \u2013 the election may end up swinging to former VP Joe Biden. With a highly polarized electorate and the Trump campaign sowing doubt over the integrity of the vote, we could be in for a heated conclusion to the race. <strong>Sounds about right, if you ask us, but keep in mind: Hawkfish is a creation of Mike Bloomberg <\/strong>and so just may have a vested interest in the outcome here.<\/p><p>More news from the campaign trail:<\/p><p><strong>Donald Trump knew about the severity of covid-19 since March, but chose <\/strong><strong>to downplay it at his rallies and briefings <\/strong>to prevent nationwide panic and project the image of a strong, resilient US, according to a new book by veteran journalist Bob Woodward, <a href=\"https:\/\/www.washingtonpost.com\/politics\/trump-reaction-woodward-interview-coronavirus\/2020\/09\/09\/fc21e67e-f2ca-11ea-b796-2dd09962649c_story.html\">the Washington Post<\/a> reports. The book is due out on 15 September (<a href=\"https:\/\/www.amazon.com\/Rage-Bob-Woodward-ebook\/dp\/B0881XTWZW\/\">Amazon<\/a>).<\/p><p><strong>We have a new poll from battleground states, and it\u2019s not looking great for Trump:<\/strong> The latest <a href=\"https:\/\/twitter.com\/Politics_Polls\/status\/1303638877488504834\">Morning Consult poll<\/a> shows Biden ahead in every state, leading by 10 points in Michigan and 8 points in Wisconsin. The Democrat isn\u2019t doing as well in Florida, but <a href=\"https:\/\/fivethirtyeight.com\/features\/election-update-polls-are-good-for-biden-pretty-much-everywhere-except-florida\/\">FiveThiryEight still thinks he has a 74 in 100 chance of winning<\/a> in November.<\/p><hr class=\"grey-line\"><p><strong>Alexandria to become a Wizz Air destination \u2026 once Abu Dhabi opens up: <\/strong> Europe\u2019s third-largest discount carrier Wizz Air may have to delay the planned 1 October launch of its new airline in Abu Dhabi if the foreign visitor ban isn\u2019t lifted soon, CEO Jozsef Varadi told <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2020-09-09\/wizz-air-to-delay-gulf-startup-if-abu-dhabi-doesn-t-reopen-soon\">Bloomberg<\/a>. One Wizz Air plane is already in Abu Dhabi while another one should be arriving within the next few days, \u201cbut really we need Abu Dhabi to open up so that people can actually fly,\u201d said Varadi. The Emirate is only <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bce083c8-5ec4-4320-8a4b-37500f241595\">allowing<\/a> UAE citizens or diplomats from abroad to enter the country with requirements of a PCR test before departure as well as a mandatory self-quarantine on arrival. Alexandria was confirmed as a launch destination by Varadi as well as the cities of Athens, Larnaca, Odessa, Yerevan, and Kutaisi.<\/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\/batteries\/\">batteries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574461\" 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=\"574461\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/ahmed-moussa-interviews-cbe-governor-tarek-amer-on-last-nights-talk-shows\/\">\r\n                            Ahmed Moussa interviews CBE governor Tarek Amer 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\/10\/ahmed-moussa-interviews-cbe-governor-tarek-amer-on-last-nights-talk-shows\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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   <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ahmed+Moussa+interviews+CBE+governor+Tarek+Amer+on+last+night%E2%80%99s+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fahmed-moussa-interviews-cbe-governor-tarek-amer-on-last-nights-talk-shows%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/ahmed-moussa-interviews-cbe-governor-tarek-amer-on-last-nights-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574461\" class=\"content-area-description single-story post-574461 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-ahmed-moussa tag-covid-19 tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-financial-inclusion tag-fintech tag-imf tag-new-urban-communities-authority tag-tarek-amer 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-07\"><\/a> <strong>CBE governor Tarek Amer gave a marathon interview to <\/strong><strong>Ala Mas\u2019ouleety\u2019s Ahmed<\/strong> <strong>Moussa last night<\/strong>, sitting down for over two hours to talk about everything econ you can think of <a href=\"https:\/\/www.youtube.com\/watch?v=_bQWK_DGGzA&t=2936s&pbjreload=101\">(watch, runtime: 2:19:42)<\/a>. Here are the highlights:<\/p>\n<p><strong>More reform is in the pipeline: <\/strong>Amer touched on a range of initiatives now in the pipeline, among them new exchanges for commodities and futures. The country hopes to improve financial inclusion by encouraging development of the non-bank financial services and fintech sectors, he added, and is hoping to draw in more foreign investment by implementing tax reforms to make the business climate more appealing for investors.<\/p>\n<p><strong>Are tough economic reforms translating into stability? <\/strong>As you might expect, Amer spent a significant chunk of airtime reminding the public at large that the Sisi administration\u2019s commitment to the 2016 economic reform program has enabled Egypt to weather the worst of the covid-19 pandemic. The CBE had only USD 800 mn in cash reserves in 2015, rising to more than USD 45 bn by February this year. This meant that Egypt was able to meet some USD 35 bn of its liabilities during the covid-19 pandemic, without seeing a drastic decline of its foreign reserves stockpile, Amer said.<\/p>\n<p><strong>Holding the line on the EGP: <\/strong>While many countries were forced to devalue their currencies, sometimes by as much as 20-30%, Egypt has seen the value of the EGP rise against the USD by around 1.4% so far this year, Amer noted.<\/p>\n<p><strong>The government isn\u2019t going to extend its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa672b5a-733e-4c75-a157-f99e6628b23c\">six-month freeze on debt repayment<\/a><\/strong><strong>,<\/strong> Amer said. This will mean that tourism companies, hotels and private airlines will need to start paying down their debts again from October. Amer also recapped other covid-19 stimulus measures enacted to salvage businesses and the economy.<\/p>\n<p><strong>Egyptians have now invested EGP 380 bn into the 15% savings certificates<\/strong> offered by the National Bank of Egypt and Banque Misr, he said. The high-yield certificates of deposit were launched earlier this year to dissuade savers from rushing into the USD.<\/p>\n<p><strong>Egypt has no need to return cap in hand to the IMF<\/strong>, having secured USD 9 bn in emergency funding from the fund already this year, Amer said.<\/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\/ahmed-moussa\/\">Ahmed Moussa<\/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\/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\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-amer\/\">Tarek Amer<\/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=\"574462\" 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=\"574462\">\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\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/\">\r\n                            Beltone, CI Capital and EFG Hermes will hold stakes in the commodities exchange                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Beltone, CI Capital and EFG Hermes will hold stakes in the commodities exchange&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/&title=Beltone, CI Capital and EFG Hermes will hold stakes in the commodities exchange\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Beltone%2C+CI+Capital+and+EFG+Hermes+will+hold+stakes+in+the+commodities+exchange+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fbeltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/125.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574463\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/beltone-ci-capital-and-efg-hermes-will-hold-stakes-in-the-commodities-exchange\/125-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/125.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"125.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/125.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/125.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574462\" class=\"content-area-description single-story post-574462 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-egx tag-egyptian-commodities-exchange tag-enterpriseam tag-gasc tag-misr-for-central-clearing-depository-and-registry tag-speed-round tag-trade 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>Beltone, CI Capital and EFG Hermes will hold stakes in the new Egyptian <\/strong><strong>Commodities Exchange <\/strong><strong>(<\/strong><strong><a href=\"http:\/\/www.egycomex.com\/\">Egycomex<\/a><\/strong><strong>)<\/strong>, exchange boss Ibrahim Ashmawy tells us, though he did not outline who will own how much. Their shares will be part of a 49% ownership stake that will be held along with state banks the National Bank of Egypt, Banque Misr and the Agricultural Bank of Egypt, he said. The \u0650EGX, Misr Holding Insurance, and Misr for Central Clearing, Depository and Registry, and a host of Supply Ministry companies will own the remaining 51% of the exchange. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88e9bc9b-d75b-4884-bf0e-79d4b04dbfec\">EGX Chairman Mohamed Farid<\/a> had previously hinted that the EGX would own 30% of the exchange.<\/p>\n<p><strong>We spoke with Ashmawy after news emerged that the company that will operate <\/strong><strong>the long-awaited exchange is now up and running<\/strong>, according to a Supply Ministry <a href=\"https:\/\/bit.ly\/3bINGP7\">announcement yesterday<\/a>. Egycomex has been in the works since <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/14\/house-passes-amendments-to-the-capital-markets-act\/\">February 2018<\/a>, when it was made possible due to amendments made to the Capital Markets Act. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d41d4a55-26e7-48e2-a7ed-fa8a4d024224\">Newly-appointed<\/a> chairman Ashmawy answered some of the most important questions we\u2019ve had on this in the lead-up to the announcement including:<\/p>\n<p><strong>When will trading begin?<\/strong> Trading is likely to kick off in 1Q or 2Q2021, Ashmawy said. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75cc4fe3-c649-41cd-83b3-f999dec7badc\">Unconfirmed reports earlier this year<\/a> claimed that the ministry originally planned to launch trading in September.<\/p>\n<p><strong>What commodities will be traded? <\/strong>Traders will initially be able to buy and sell wheat, oil, sugar, and rice, Ashmawy said, though he noted that even those goods are not set in stone. The shareholders are currently studying other options and will increase the number of tradable goods after the Egycomex launches. The exchange was expected to initially trade in six commodities: wheat, rice, corn, potatoes, onions, and oranges.<\/p>\n<p><strong>Spot contracts only \u2014 for now: <\/strong>Futures and options are both off the table for now, but that could be something that will happen later, EGX chairman Mohamed Farid said yesterday, echoing statements both <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75cc4fe3-c649-41cd-83b3-f999dec7badc\">he<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/21\/company-managing-the-egyptian-commodity-exchange-will-be-ready-this-year-6808\/\">Ashmawy<\/a> had made earlier this year. This means investors will be limited to trading spot contracts.<\/p>\n<p><strong>For that, we may have to wait for updates on the upcoming futures exchange<\/strong>, which appears to be still some way away. In a meeting late last month, the Financial Regulatory Authority formed a working group to begin developing the regulations and guidelines covering the exchange. We\u2019ve been getting encouraging signals from FRA boss Mohamed Omran and deputy chairman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5d5e27d-9ad1-4071-909d-602a4eea2142\">Khaled El Nashar<\/a> that the private sector will hold shares in the futures exchange.<\/p>\n<p><strong>Advisors: <\/strong><a href=\"http:\/\/www.alc.law\/\">ALC Alieldean Weshahi & Partners<\/a> is legal counsel on the establishment of Egycomex.<\/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\/egx\/\">EGX<\/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\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-for-central-clearing-depository-and-registry\/\">Misr for Central Clearing Depository and Registry<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"574474\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574475\" 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=\"574475\">\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\/10\/egypt-in-the-news-on-10-september-2020\/\">\r\n                            Egypt in the News on 10 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\/10\/egypt-in-the-news-on-10-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\/10\/egypt-in-the-news-on-10-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\/10\/egypt-in-the-news-on-10-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 10 September 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/egypt-in-the-news-on-10-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\/10\/egypt-in-the-news-on-10-september-2020\/&title=Egypt in the News on 10 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+10+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fegypt-in-the-news-on-10-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\/10\/egypt-in-the-news-on-10-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574475\" class=\"content-area-description single-story post-574475 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-covid-19 tag-eastern-mediterranean tag-egypt-in-the-news tag-enterpriseam tag-gerd tag-libya tag-maritime tag-national-security tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a mixed bag in the foreign press this morning:<\/strong> Turkey\u2019s regional belligerence is an attempt to confound Egypt\u2019s EastMed ambitions through multi-faceted regional disputes, Irina Tsukerma says in an op-ed in <a href=\"https:\/\/www.algemeiner.com\/2020\/09\/09\/from-tripoli-to-tripoli-turkeys-real-aim-is-egypt\/\">The Algemeiner<\/a>, while <a href=\"https:\/\/apnews.com\/cdde5a0eb82797fe0ea9d0d71a2b9f48#:~:text=Egypt%20prosecutors%20probe%20young%20man's%2520death%2520while%2520in%2520detention,-By%2520SAMY%2520MAGDY%26text%3DAccording%2520to%2520a%2520statement%2520by,Arabic%2520for%2520%25E2%2580%259Cthe%2520Australian.%25E2%2580%259D\">the Associated Press<\/a> reports that prosecutors are investigating the death at the hands of the police of a 26-year-old man.<\/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\/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\/eastern-mediterranean\/\">Eastern Mediterranean<\/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\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maritime\/\">maritime<\/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\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574476\" 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=\"574476\">\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\">Worth watching<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/covid-19-pushes-the-us-to-a-used-car-sales-boom\/\">\r\n                            Covid-19 pushes the US to a used car sales boom                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/130.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574477\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/covid-19-pushes-the-us-to-a-used-car-sales-boom\/130-jpg-16\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/130.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"130.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/130.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/130.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574476\" class=\"content-area-description single-story post-574476 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-watching tag-automotive tag-covid-19 tag-enterpriseam tag-infrastructure tag-pandemic tag-worth-watching wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Is covid-19 better for used cars than new ones? Sales data in the US seem to indicate <\/strong><strong>so:<\/strong> The US is experiencing a nationwide used car sales boom, as the demand for new cars plummets and people tighten their purse strings during the pandemic, according to CNBC\u2019s After Hours (<a href=\"https:\/\/bit.ly\/2EV5RVt\">watch, runtime: 14:10<\/a>). Sales of used cars increased 17% from pre-covid levels in June while the average listing price of a used car increased USD 700 from June to July.<\/p>\n<p><strong>Used car delivery, anyone?<\/strong> Companies like <a href=\"http:\/\/vroom.com\">Vroom<\/a> who offer contactless used car sales have seen their inventories drop amid the increase of demand, said Vroom CEO Paul Hennesy.<\/p>\n<p><strong>Health and safety concerns are also attributed to the boom<\/strong>, with people choosing to buy cars to avoid the virus-spreading mass transit system. In the hard hit New York City used car dealerships saw customer walk-ins rise 38% from 2019, with the city unsure whether its infrastructure can handle the increase in vehicles.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-watching\/\">worth watching<\/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=\"574478\" 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=\"574478\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/\">\r\n                            Shoukry denounces Turkish intervention at Arab League meeting                        <\/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\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/\" 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\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/')\">\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\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/\">\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=Shoukry denounces Turkish intervention at Arab League meeting&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/\">\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\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/&title=Shoukry denounces Turkish intervention at Arab League meeting\">\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=Shoukry+denounces+Turkish+intervention+at+Arab+League+meeting+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fshoukry-denounces-turkish-intervention-at-arab-league-meeting%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\/10\/shoukry-denounces-turkish-intervention-at-arab-league-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574478\" class=\"content-area-description single-story post-574478 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-enterpriseam tag-iraq tag-libya tag-sameh-shoukry tag-syria tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Topping diplomatic coverage this morning:<\/strong> Foreign Minister Sameh Shoukry used a speech at the Arab League yesterday to condemn Turkey\u2019s intervention in Libya, Syria and Iraq as a threat to regional security and stability, according to a cabinet <a href=\"https:\/\/bit.ly\/3bGNK1S\">statement<\/a>. He said that the situation in Libya was especially worrisome and stressed that Egypt would not stand idly by as Turkey sends Syrian mercenaries to realize its ambitions in the country. He reiterated that the invasion of the Libyan town of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b18c478-9c6f-4e91-a79b-6ce21e2ef59d\">Sirte is a red line<\/a> that could trigger an intervention by the Egyptian military, and that Egypt was committed to realizing a peaceful political settlement in Libya as outlined in its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38833ec4-0b6c-42b6-8d9d-2d74307b8f57\">Cairo Declaration<\/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\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/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\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/syria\/\">Syria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574479\" 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=\"574479\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/\">\r\n                            Tourism Promotion Authority launching tender for a new campaign                        <\/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\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/\" 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\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/')\">\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\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/\">\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=Tourism Promotion Authority launching tender for a new campaign&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/\">\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\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/&title=Tourism Promotion Authority launching tender for a new campaign\">\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=Tourism+Promotion+Authority+launching+tender+for+a+new+campaign+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Ftourism-promotion-authority-launching-tender-for-a-new-campaign%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\/10\/tourism-promotion-authority-launching-tender-for-a-new-campaign\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574479\" class=\"content-area-description single-story post-574479 post type-post status-publish format-standard hentry category-tourism tag-enterpriseam tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Tourism Promotion Authority is preparing a tender for a new promotion campaign that it hopes to launch by the end of this year, Ahmed Youssef, head of the Tourism Promotion Authority told <a href=\"https:\/\/www.alborsaanews.com\/2020\/09\/09\/1381098\">the local press<\/a>. The company awarded the tender will be tasked with creating original promotional content, managing the authority\u2019s website and online presence.<\/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\/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=\"574481\" 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=\"574481\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Telecoms + ICT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/tamweely-launches-microfinance-chatbot\/\">\r\n                            Tamweely launches microfinance chatbot                        <\/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\/10\/tamweely-launches-microfinance-chatbot\/\" 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\/10\/tamweely-launches-microfinance-chatbot\/')\">\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\/10\/tamweely-launches-microfinance-chatbot\/\">\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=Tamweely launches microfinance chatbot&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/tamweely-launches-microfinance-chatbot\/\">\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\/10\/tamweely-launches-microfinance-chatbot\/&title=Tamweely launches microfinance chatbot\">\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=Tamweely+launches+microfinance+chatbot+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Ftamweely-launches-microfinance-chatbot%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\/10\/tamweely-launches-microfinance-chatbot\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574481\" class=\"content-area-description single-story post-574481 post type-post status-publish format-standard hentry category-telecoms-ict tag-ai tag-digitization tag-enterpriseam tag-microfinance tag-tamweely tag-technology tag-telecoms-ict wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egyptian microfinance firm <a href=\"https:\/\/www.tamweely.com.eg\/en\/\">Tamweely<\/a> has launched Egypt\u2019s first microfinance chatbot, which is available 24\/7 to respond to customer inquiries online, according to a <a href=\"https:\/\/ent.news\/2020\/9\/Tamweely-Chatbot.pdf\">press release (pdf)<\/a>. The chatbot \u2014 which they named Fahem \u2014 was created as part of a digitalization push by the company that was fueled by the covid-19 pandemic, said chairman and CEO Amr AbouElazm. The chatbot was created in cooperation with Egyptian AI startup <a href=\"https:\/\/www.linkedin.com\/company\/merq\/\">MerQ<\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tamweely\/\">Tamweely<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecoms-ict\/\">Telecoms + ICT<\/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=\"574482\" 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=\"574482\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking + Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/\">\r\n                            Cotton &#038; Textile Industry Holding Co. to borrow EUR 540 mn from Swiss and Italian banks                        <\/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\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/\" 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\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/')\">\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\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/\">\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=Cotton &#038; Textile Industry Holding Co. to borrow EUR 540 mn from Swiss and Italian banks&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/\">\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\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/&title=Cotton &#038; Textile Industry Holding Co. to borrow EUR 540 mn from Swiss and Italian banks\">\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=Cotton+%26%23038%3B+Textile+Industry+Holding+Co.+to+borrow+EUR+540+mn+from+Swiss+and+Italian+banks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fcotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks%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\/10\/cotton-textile-industry-holding-co-to-borrow-eur-540-mn-from-swiss-and-italian-banks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574482\" class=\"content-area-description single-story post-574482 post type-post status-publish format-standard hentry category-banking-finance tag-banking-finance tag-enterpriseam tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Cotton and Textile Industry Holding Company is planning to borrow EUR 540 mn from a consortium of four Swiss and Italian banks that will include Credit Suisse, Public Enterprises Minister Hisham Tawfik said, according to <a href=\"https:\/\/bit.ly\/3iaffU1\">Al Mal<\/a>. The National Bank of Egypt will arrange the facility. The Cotton and Textiles Holding company is expected to sign the agreement before the end of the month, Tawfik told Al Mal. The Italian export credit agency SACE and the Swiss Foundation for Export Risk Insurance (SERV) will be acting as credit garaunteurs for the loan.<\/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\/banking-finance\/\">BANKING + FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/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=\"574483\" 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=\"574483\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Other Business News of Note<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\">\r\n                            FRA rejects Sameem Capital request to disband Prime Holding\u2019s board                        <\/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\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\" 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\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/')\">\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\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=FRA rejects Sameem Capital request to disband Prime Holding\u2019s board&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\">\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\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/&title=FRA rejects Sameem Capital request to disband Prime Holding\u2019s board\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=FRA+rejects+Sameem+Capital+request+to+disband+Prime+Holding%E2%80%99s+board+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Ffra-rejects-sameem-capital-request-to-disband-prime-holdings-board%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\/10\/fra-rejects-sameem-capital-request-to-disband-prime-holdings-board\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574483\" class=\"content-area-description single-story post-574483 post type-post status-publish format-standard hentry category-other-business-news-of-note tag-dispute-watch tag-enterpriseam tag-financial-regulatory-authority tag-other-business-news-of-note wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Financial Regulatory Authority (FRA) has rejected requests by shareholders to disband Prime Holding\u2019s board of directors, according to <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/250715_1.pdf\">a regulatory disclosure (pdf).<\/a> Activist investor Sameem Capital, which owns 27% of Prime, had <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/17\/sameem-capital-files-legal-complaint-with-egypts-fra-against-prime-holding-8572\/\">lodged a complaint<\/a> with the FRA and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9664ca4-91f6-43ab-96c0-78d9229a18f8\">threatened<\/a>legal action alleging that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a5b117b-8bfe-42e6-9a4b-94166107e334\">a reshuffle<\/a> which gave Sameem Capital only one seat on the board violated company rules.<\/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\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/other-business-news-of-note\/\">Other Business News of Note<\/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=\"574484\" 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=\"574484\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/\">\r\n                            Egypt to host two world squash tournaments in 2021 and 2022                        <\/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\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/\" 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\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/')\">\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\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/\">\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 to host two world squash tournaments in 2021 and 2022&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/\">\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\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/&title=Egypt to host two world squash tournaments in 2021 and 2022\">\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+to+host+two+world+squash+tournaments+in+2021+and+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fegypt-to-host-two-world-squash-tournaments-in-2021-and-2022%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\/10\/egypt-to-host-two-world-squash-tournaments-in-2021-and-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574484\" class=\"content-area-description single-story post-574484 post type-post status-publish format-standard hentry category-_newspack_sports tag-covid-19 tag-enterpriseam tag-sports 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-09\"><\/a> Egypt will host the 2021 Squash World Junior Championships and the 2022 Squash World Women\u2019s Team Championship, the World Squash Federation announced, according to <a href=\"https:\/\/www.psaworldtour.com\/news\/view\/7730\/egypt-to-host-2021-world-junior-championships-and-2022-world-women-39-s-team-championship\">PSA World Tour<\/a>. The 2020 World Junior Championships were due to have taken place in Australia this summer but were postponed to 2021 due to covid-19. The 2021 event will see Egypt host the tournament for the first time in over a decade. The exact dates are still to be announced but the 2021 event will take place in summer while the 2022 event will take place in December.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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=\"574486\" 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=\"574486\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/celebrity-chef-gordon-ramsay-in-south-sinai-for-new-uncharted-series\/\">\r\n                            Celebrity chef Gordon Ramsay in South Sinai for new \u201cUncharted\u201d series                        <\/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  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<\/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\/10\/celebrity-chef-gordon-ramsay-in-south-sinai-for-new-uncharted-series\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/132.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574487\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/celebrity-chef-gordon-ramsay-in-south-sinai-for-new-uncharted-series\/132-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/132.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"132.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/132.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/132.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574486\" class=\"content-area-description single-story post-574486 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam tag-gordon-ramsay tag-masterchef tag-south-sinai wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Celebrity chef Gordon<\/strong><strong> Ramsay will visit South Sinai\u2019s Dahab and St. Catherine, <\/strong>where he will observe and film Bedouin cooking culture \u2014 and no doubt replicate some choice samples. <a href=\"https:\/\/egyptindependent.com\/photos-gordon-ramsay-uncharted-arrives-in-egypt-for-filming\/\">The Egypt Independent reports<\/a> that the production crew arrived Sunday to prepare for the episode, which will feature in his new National Geographic show \u201c<a href=\"https:\/\/www.nationalgeographic.com\/shows\/gordon-ramsay-uncharted\/\">Unchartered<\/a>,\u201d which takes him to exotic locations and out of his comfort zone.<\/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\/gordon-ramsay\/\">Gordon Ramsay<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/masterchef\/\">Masterchef<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-sinai\/\">South Sinai<\/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=\"574489\" 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=\"574489\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/10\/the-market-yesterday-165\/\">\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\/10\/the-market-yesterday-165\/\" 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\/10\/the-market-yesterday-165\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n         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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/the-market-yesterday-165\/&title=The Market Yesterday\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F10%2Fthe-market-yesterday-165%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\/10\/the-market-yesterday-165\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574489\" class=\"content-area-description single-story post-574489 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><strong>EGP \/ USD CBE market average: <\/strong>Buy 15.74 | Sell 15.84<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.73 | Sell 15.83<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.75 | Sell 15.85<\/p>\n<p><strong>EGX30<\/strong> (Wednesday): 10,930 (-0.2%)<br \/>\n <strong>Turnover:<\/strong> EGP 1 bn (10% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -21.7%<\/p>\n<p><strong>THE MARKET ON WEDNESDAY:<\/strong> The EGX30 ended Wednesday\u2019s session down 0.2%. CIB, the index\u2019s heaviest constituent, ended up 0.5%. EGX30\u2019s top performing constituents were Sidi Kerir Petrochemicals up 6.3%, Juhayna up 3.1%, and Credit Agricole up 3.0%. Yesterday\u2019s worst performing stocks were Telecom Egypt down 4.3%, TMG Holding down 2.5% and Qalaa Holding down 2.3%. The market turnover was EGP 1 bn, and foreign investors were the sole net sellers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -67.9 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +8.5 mn<br \/>\n <strong>Domestic<\/strong>: Net long | EGP +59.3 mn<\/p>\n<p><strong>Retail<\/strong>: 66.1% of total trades | 65.5% of buyers | 68.8% of sellers<br \/>\n <strong>Institutions<\/strong>: 33.9% of total trades | 34.5% of buyers | 33.2% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 38.06 (+3.5%)<br \/>\n <strong>Brent:<\/strong> USD 40.62 (+2.11%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.39 MMBtu, (-0.2%, October 2020 contract)<br \/>\n <strong>Gold:<\/strong> USD 1,958 \/ troy ounce (0.7%)<\/p>\n<p><strong>TASI:<\/strong> 8,079 (-0.12%) (YTD: -3.69%)<br \/>\n <strong>ADX:<\/strong> 4,508 (-0.24%) (YTD: -11.17%)<br \/>\n <strong>DFM:<\/strong> 2,273 (-0.63%) (YTD: -17.77%)<br \/>\n <strong>KSE Premier Market:<\/strong> 5,812 (-0.05%)<br \/>\n <strong>QE:<\/strong> 9,712 (-0.49%) (YTD: -6.84%)<br \/>\n <strong>MSM:<\/strong> 3,687 (-0.38%) (YTD: -7.39%)<br \/>\n <strong>BB: <\/strong>1,394 (-0.55%) (YTD: -13.39%)<\/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=\"574490\" 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\/10\/574490\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574490\" class=\"content-area-description single-story post-574490 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>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>31 May-2 June 2021 (Monday-Wednesday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/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":574458,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-574457","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"11eebe50-1826-42ba-a07e-ec04d9dae9ca","teaser":"","photo_url":"https:\/\/ent.news\/2020\/9\/124.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>New details on Egycomex, including confirmation of private-sector stakes - 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\/new-details-on-egycomex-including-confirmation-of-private-sector-stakes\/\" \/>\n<meta property=\"og:locale\" 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