{"id":574743,"date":"2020-09-21T04:02:46","date_gmt":"2020-09-21T04:02:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=574743"},"modified":"2025-12-16T09:52:38","modified_gmt":"2025-12-16T09:52:38","slug":"fawry-gets-nod-for-bank-transfer-service-fintech-industry-faces-new-regulation-drive","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/fawry-gets-nod-for-bank-transfer-service-fintech-industry-faces-new-regulation-drive\/","title":{"rendered":"Fawry gets nod for bank transfer service + fintech industry faces new regulation drive"},"content":{"rendered":"<section id=\"574745\" 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=\"574745\">\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\/21\/what-were-tracking-on-21-september-2020\/\">\r\n                            What we\u2019re tracking on 21 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\/21\/what-were-tracking-on-21-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(); 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All 11 analysts and economists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8425aa4-e5d7-459b-aa44-845d254d94e0\">we surveyed<\/a> expect rates to be left unchanged for a fifth consecutive meeting.<\/p><p><strong>The Madbouly Cabinet\u2019s decision to relax some restrictions on mass gatherings comes <\/strong><strong>into effect today<\/strong><strong>.<\/strong> Public wedding celebrations, funeral prayers, expos, and some sports and educational activities will resume \u2014 subject to restrictions \u2014 for the first time since March after the government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/716f7c70-98f4-45b4-b8f5-fa241bf5531f\">last week agreed to ease curbs on gatherings<\/a>.<\/p><p><strong>EFG Hermes\u2019 virtual investor conference kicks off today <\/strong>and wraps next Thursday, 1 October. You can <a href=\"https:\/\/2ndvirtualconference.efghermes.com\/pages\/home.aspx\">visit the conference website here<\/a>.<\/p><p><strong>The building that will house the newly-constituted Senate <\/strong><strong>will be ready to hold <\/strong><strong>sessions by the end of the <\/strong><strong>week<\/strong>, <a href=\"https:\/\/www.mubasher.info\/news\/3697440\/%D8%A7%D9%84%D8%B4%D9%8A%D9%88%D8%AE-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D9%86%D8%AA%D8%B8%D8%B1-%D8%AA%D8%B3%D9%84%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%B1-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D9%8A-%D9%88%D8%AF%D8%B9%D9%88%D8%A9-%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%8A-%D9%84%D9%84%D8%A7%D9%86%D8%B9%D9%82%D8%A7%D8%AF\/\">state news agency MENA<\/a> quotes the body\u2019s acting secretary-general as saying. Sessions <a href=\"https:\/\/bit.ly\/2RJxaFt\">will be held<\/a> in the old Shura Council building before the Senate moves to the new administrative capital as early as next year.<\/p><p><strong>The date of the first session is still TBD:<\/strong> President Abdel Fattah El Sisi is expected to appoint the remaining 100 senators to the 300-seat chamber \u201cduring the next few days,\u201d after which the first official session will be held. Nationwide elections held in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21f7f46b-d372-487a-b1f1-fded81d0762f\">August<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/331772bb-8af5-4623-a4dd-7b568a447361\">September<\/a> saw 200 representatives elected to the Senate.<\/p><hr class=\"grey-line\"><p><strong>GOOD COVID (related) NEWS- <\/strong><strong><a href=\"https:\/\/www.wsj.com\/articles\/ceos-start-to-place-big-bets-as-pandemic-grinds-on-11600599601\">It\u2019s time you started thinking big once again<\/a><\/strong>, says the Wall Street Journal, noting that <strong>CEOs are rediscovering they had big ambitions<\/strong> as the pandemic grinds on. Company leaders are shifting \u201cfrom survival mode to strategic moves with takeovers, leadership changes and restored financial targets\u201d all on the agenda. A must-read.<\/p><p><strong>GOOD-BAD COVID NEWS- The coronavirus may be mutating to become less lethal<\/strong>, according to <a href=\"https:\/\/www.thelancet.com\/journals\/lancet\/article\/PIIS0140-6736(20)31757-8\/fulltext\">a study in the Lancet<\/a>. But it might be worth rethinking that <a href=\"https:\/\/www.nytimes.com\/2020\/09\/19\/travel\/airlines-pandemic-flights-to-nowhere.html\">\u201cflight to nowhere\u201d<\/a>: <strong>The virus really appears to like attacking folks on airplanes<\/strong>, <a href=\"https:\/\/wwwnc.cdc.gov\/eid\/article\/26\/11\/20-3299_article\">per a CDC paper<\/a>.<\/p><p><strong>CREEPY NEWS- WhatsApp knows when you\u2019re sleeping, it knows when you\u2019re <\/strong><strong>awake\u2026 <\/strong>It\u2019s time to break out your tinfoil hats, ladies and gentlemen. Tracking apps allow creeps to use your WhatsApp activity to \u201cfigure out when you're sleeping and who you're talking to on the app,\u201d <a href=\"https:\/\/www.businessinsider.com\/whatsapp-tracking-apps-online-activity-sleep-interactions-2020-9\">CNBC reports<\/a>.<\/p><hr class=\"grey-line\"><p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/bit.ly\/3mLSqsD\">reported<\/a><\/strong><strong> 115 new covid-19 infections yesterday<\/strong>, down from 128 the day before. Egypt has now disclosed a total of 102,015 confirmed cases of covid-19. The ministry also reported 20 new deaths, bringing the country\u2019s total death toll to 5,770. We now have a total of 89,532 confirmed cases that have fully recovered.<\/p><p><strong>The first post-covid flight operated by Swiss carrier Chair Airlines landed in Hurghada <\/strong><strong>yesterday<\/strong>, the Civil Aviation Ministry said in <a href=\"https:\/\/bit.ly\/33K8aU5\">a statement<\/a>.<\/p><p><strong>Private carrier Nile Air saw revenues plunge 90% during FY2019-2020<\/strong> as it struggled amid competition from budget airlines and the suspension of flights during the pandemic, Vice President and Managing Director Yossrey Abdel Wahab told <a href=\"https:\/\/bit.ly\/2ZQRyc0\">Al Mal<\/a>. The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f767246d-c9cd-45bf-bb2b-fc0ee5c26dcd\">shelved in May its plans to IPO<\/a> on the EGX this year and scaled back ambitions to upgrade the size of its fleet.<\/p><p><strong>Russia inks agreements to sell covid-19 vaccine globally: <\/strong>Russia has reached early agreements to ship its Sputnik V vaccine to more than 10 countries in the Middle East, Asia, and South America, <a href=\"https:\/\/www.wsj.com\/articles\/russia-strikes-deals-to-sell-its-coronavirus-vaccine-internationally-11600610554?mod=searchresults&amp;page=1&amp;pos=1\">the Wall Street Journal<\/a> quotes officials as saying. Russian authorities are in talks with some 10 others, and have received inquiries and requests for nearly 1.2 bn vaccine shots. Egypt, the UAE, and Belarus were among the countries Russia recently announced it partnered with on vaccine clinical trials.<\/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-SEP-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a>Take a moment to breathe in and watch the beauty around. It\u2019s time for your mind to wander to beautiful places at Somabay and let nature work its magic.<\/p><p><strong>Emerging market bond funds are enjoying their longest rally since 4Q2017<\/strong>, when the asset class saw 12 straight weeks of gains, according to EPFR Global data. Driven by the collapse in yields in the US and Europe, <strong>EM bonds have now seen 10 consecutive weeks of net inflows<\/strong>, with most of the money coming during a three-week period in late August and early September when flows hit USD 8 bn. Despite falling considerably from March as EM central banks slashed policy rates, yields continue to remain attractive: sub-investment grade EM bonds are currently paying a 7.6% yield, more than 300 bps higher than their counterparts in the US, according to JPMorgan and Bloomberg Barclays index data. <a href=\"https:\/\/www.wsj.com\/articles\/bond-investors-regain-appetite-for-emerging-markets-11600335001\">The Wall Street Journal<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-20\/it-s-mostly-about-rates-for-growth-deprived-emerging-markets?sref=mmeFTDW1\">Bloomberg<\/a> have the story.<\/p><p><strong>Global trade is rebounding faster from the covid slump than it did from the 2008 <\/strong><strong>financial crisis<\/strong>, despite suffering the sharpest y-o-y drop since the Great Depression, <a href=\"https:\/\/www.wsj.com\/articles\/globaltradereturns-faster-than-expected-11600594200\">the Wall Street Journal<\/a> reports. This comes as consumers up their spending on imported goods and shipping activity begins to normalize following months of turmoil caused by the Great Lockdown.<\/p><p><strong>The big banking scandal of 2020:<\/strong> Thousands of leaked documents have revealed the extent of complicity between some of the world\u2019s largest banks and organized criminal networks. The documents, handed to <a href=\"https:\/\/www.buzzfeednews.com\/article\/jasonleopold\/fincen-files-financial-scandal-criminal-networks\">Buzzfeed<\/a> and <a href=\"https:\/\/www.icij.org\/investigations\/fincen-files\/global-banks-defy-u-s-crackdowns-by-serving-oligarchs-criminals-and-terrorists\/\">the International Consortium of Investigative Journalists<\/a>, show that banks such as JPMorgan, HSBC and Deutsche Bank facilitated the movement of dirty money across borders, assisted ponzi schemes and enabled money laundering.<\/p><p>Also worth knowing about this morning:<\/p><ul>\n<li><strong>Saudi energy firms are eyeing consolidation to weather the pandemic\u2019s blow to the<\/strong><strong> oil <\/strong><strong>industry<\/strong><strong>:<\/strong> Saudi Industrial Investment Group (<a href=\"http:\/\/www.siig.com.sa\/en\/my-front-page\/\">SIIG<\/a>) and National Petrochemical Co. (<a href=\"https:\/\/en.nipc.ir\/\">NPC<\/a>) have kicked off merger talks to create a USD 11 bn energy company amid slumping oil prices, according to <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2020-09-20\/saudi-firms-start-talks-to-form-11-billion-petrochemicals-maker\">Bloomberg<\/a>.<\/li>\n<li><strong>Donald Trump\u2019s blessing may not be enough to get the TikTok sale over the line:<\/strong> The TikTok-Oracle agreement to split the Chinese media giant\u2019s US operations is coming under scrutiny. The key sticking points: ownership and a USD 5 bn donation to a \u201cpatriotic\u201d education fund. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-20\/trump-celebrates-tiktok-deal-that-falls-short-of-his-key-demands?srnd=premium-europe&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/4a9bb9aa-45e3-43b2-9759-3313751ffc8b\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/tiktok-deal-faces-questions-over-security-ownership-11600625447?mod=hp_lead_pos4\">WSJ<\/a>)<\/li>\n<li><strong>Antitrust momentum is building against Big Tech<\/strong> as the EU mulls new measures that could see it gain the power to break up firms or force them to sell some of their European operations if their market power threatens consumer and small business interests, the <a href=\"https:\/\/www.ft.com\/content\/7738fdd8-e0c3-4090-8cc9-7d4b53ff3afb\">Financial Times<\/a> reports. This comes as the US Justice Department <a href=\"https:\/\/www.nytimes.com\/2020\/09\/03\/us\/politics\/google-antitrust-justice-department.html\">prepares to file an antitrust case<\/a> against Google parent Alphabet as soon as this month.<\/li>\n<\/ul><hr class=\"grey-line\"><p><strong>US ELECTION WATCH- The stage is being set for a pre-election Supreme Court <\/strong><strong>showdown:<\/strong> House Speaker Nancy Pelosi yesterday refused to rule out impeaching The Donald or his attorney general after the president vowed to appoint a new judge to the Supreme Court following Justice Ruth Bader Ginsburg\u2019s death, <a href=\"https:\/\/www.cnbc.com\/2020\/09\/20\/pelosi-on-possible-second-trump-impeachment-we-have-our-options.html\">CNBC<\/a> reports. Trump <a href=\"https:\/\/twitter.com\/realDonaldTrump\/status\/1307321159113936896\">promised to name<\/a> Ginsburg\u2019s successor \u201cwithout delay\u201d and <a href=\"https:\/\/www.wsj.com\/articles\/trump-to-nominate-woman-to-high-court-this-week-11600616482?mod=hp_lead_pos1%20https:\/\/www.wsj.com\/articles\/trump-to-nominate-woman-to-high-court-this-week-11600616482\">says<\/a> he will nominate a woman.<\/p><p><strong>The story, and its potential impact on the election, dominates the front pages this morning:<\/strong> <a href=\"https:\/\/www.nytimes.com\/2020\/09\/20\/us\/politics\/supreme-court-ruth-bader-ginsburg-trump-biden-live.html?action=click&amp;module=Spotlight&amp;pgtype=Homepage\">New York Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/2020\/09\/20\/supreme-court-ruth-bader-ginsburg-live\/\">Washington Post<\/a> | <a href=\"https:\/\/www.ft.com\/content\/71eea4f8-68ac-43fd-be3f-585385765bda\">Financial Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/trump-to-nominate-woman-to-high-court-this-week-11600616482?mod=hp_lead_pos1\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-20\/biden-likely-to-tap-kamala-harris-to-prosecute-trump-court-pick?srnd=premium\">Bloomberg<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/world-us-canada-54227286\">BBC<\/a>.<\/p><p><strong>The Emmy awards were still rolling at dispatch time<\/strong>, with Schitt\u2019s Creek sweeping the comedy categories and HBO again winning top drama for Succession. <a href=\"https:\/\/www.nytimes.com\/2020\/09\/20\/arts\/television\/emmy-awards.html\">The NYT\u2019s liveblog<\/a> is worth checking out to get up to speed.<\/p><p><strong>SIGN OF THE TIMES- American MBA programs are starting to lose their appeal: <\/strong>Put off by online learning and the Trump administration\u2019s strict visa rules, international graduate students are less keen on the US as a top MBA destination, a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-17\/best-business-schools-the-american-mba-is-losing-its-appeal-and-luster?sref=mmeFTDW1\">Bloomberg Businessweek<\/a> survey of over 3,500 students from 95 business schools worldwide shows. Local and international students seemed to have the same reading on the efficacy of online learning and the quality of the material, but international students, who accounted for 38% of those surveyed, reported lower levels of confidence in the return on investment from getting their degree online. <strong>Speaking of which:<\/strong><\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> With covid-19 forcing international students to think about their study choices harder than ever, will the UK and US government\u2019s chaotic responses to the pandemic persuade Egyptians to look elsewhere?<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bytedance\/\">ByteDance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/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\/donald-trump\/\">Donald Trump<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n              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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=\"574747\" 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=\"574747\">\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\/21\/last-nights-talk-shows-on-21-september-2020\/\">\r\n                            Last Night\u2019s Talk Shows on 21 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\/21\/last-nights-talk-shows-on-21-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\/21\/last-nights-talk-shows-on-21-september-2020\/')\">\n           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          <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/last-nights-talk-shows-on-21-september-2020\/&title=Last Night\u2019s Talk Shows on 21 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=Last+Night%E2%80%99s+Talk+Shows+on+21+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F21%2Flast-nights-talk-shows-on-21-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\/21\/last-nights-talk-shows-on-21-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574747\" class=\"content-area-description single-story post-574747 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-education tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-new-administrative-capital tag-oil-and-gas tag-politics tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The nation\u2019s talking heads were preoccupied with Mohamed Ali\u2019s renewed calls for <\/strong><strong>protests<\/strong> on the anniversary of the small demonstrations seen in 2019. Meanwhile, Suez Canal Authority head Osama Rabie talked to Al Hadath Al Youm about a potential UAE-Israel oil pipeline, Al Hayah Al Youm hosted a discussion about private\/non-profit universities, and Masaa DMC turned its attention to the upcoming parliamentary elections.<\/p>\n<p><strong>Empty streets: <\/strong>Last night\u2019s main talking point was the hush on the streets that greeted calls from exiled actor Mohamed Ali for anti-government protests. Ala Mas'ouleety's Ahmed Moussa showed videos of Mansoura (<a href=\"https:\/\/www.facebook.com\/289251054566049\/videos\/791207931717365\">watch, runtime: 4:17<\/a>), Al Hayah Al Youm\u2019s Lobna Assal made sure to point out Ali\u2019s failure (<a href=\"https:\/\/www.youtube.com\/watch?v=WuQjm3WBX6M\">watch, runtime: 2:50<\/a>), and Masaa DMC's Eman El Hosary gave a rundown of social media coverage (<a href=\"https:\/\/www.youtube.com\/watch?v=WuQjm3WBX6M\">watch, runtime: 2:50<\/a>). Adib also got on the bandwagon with a review of government-commissioned development projects over the past few years (<a href=\"https:\/\/www.youtube.com\/watch?v=d2c5VBFMf_E\">watch, runtime: 1:07<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Proposal for UAE-Israel oil pipeline spells trouble for the Suez Canal? <\/strong>In a phone call with Al Hadath Al Youm\u2019s Sayed Ali, Suez Canal Authority head Osama Rabie warned of the potential consequences for Egypt\u2019s Suez Canal revenues of a proposed oil pipeline linking Israel and the UAE. The owners of the Eilat-Ashkelon pipeline, a 60-year-old pipeline built to lessen Israel\u2019s dependence on the Suez Canal, <a href=\"https:\/\/foreignpolicy.com\/2020\/09\/04\/uae-israel-iran-oil\/\">recently suggested<\/a> that the UAE-Israel normalization pact means that it could now be used to connect oil and gas reserves in the Gulf to Israel\u2019s Mediterranean shores. Rabie said the plans would pose a national security risk to Egypt, depriving it of a vital source of revenue. The government is now working on a new marketing strategy to attract ships to the Suez Canal, he said, adding that the pipeline for now does not pose a threat to Egypt\u2019s strategic position <a href=\"https:\/\/www.youtube.com\/watch?v=d_wmBLJHbSQ\">(watch, runtime: 4:31)<\/a>.<\/p>\n<p><strong>Talks with heads of Gen-2 universities: <\/strong>Assal sat down with the heads of four new non-profit and private universities that recently opened their doors. Ashraf Haidar, acting head of <a href=\"https:\/\/www.gu.edu.eg\/\">Galala University<\/a>, told her that his institution houses 15 faculties offering 33 degree programs in fields covering advanced sciences. Ahmed El Gohary, who leads the <a href=\"https:\/\/ejust.edu.eg\/\">Egypt-Japan University<\/a>, meanwhile, said that Egypt attracted partnerships with Japan despite competition from many other Arab countries <a href=\"https:\/\/www.youtube.com\/watch?v=cGb787r1ye0\">(watch, runtime: 42:37)<\/a>. The guests also included Magdy El Kady, president of University of Canada\u2019s <a href=\"https:\/\/www.uofcanada.edu.eg\/\">new branch<\/a> in the administrative capital, and Ashraf Saad, who leads <a href=\"https:\/\/www.ksiu.edu.eg\/\">King Salman International University<\/a>, which will have several branches in Sinai.<\/p>\n<p><strong>\u2018Welcome Schools\u2019 expo open for visitors: <\/strong>Assal phoned assistant Supply Minister Ayman Hossam, who said that nearly 175 exhibitors are now stationed at the Cairo Fair Zone for the annual \u2018Welcome Schools\u2019 expo, which kicked off yesterday and will wrap up on Sunday (<a href=\"https:\/\/www.youtube.com\/watch?v=oc5LzkTQOak\">watch, runtime: 7:49<\/a>).<\/p>\n<p><strong>A lot of people want a seat in the House of Representatives: <\/strong>Masaa DMC\u2019s Eman El Hosary phoned constitutional lawyer Shawki El Sayed, who reported that a significant number of people have submitted applications to run in the upcoming parliamentary elections. Prospective MPs have until Saturday to submit their applications to the National Election Authority. The elections will take place over two phases in October and November, and will kick-off on 21 October when expats from the 14 governorates included in the first phase of voting go to the polls <a href=\"https:\/\/www.youtube.com\/watch?v=JUiw5ZTpMu0\">(watch, runtime: 8:15)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/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=\"574748\" 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=\"574748\">\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\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\">\r\n                            Fawry receives CBE approval for bank transfer service                        <\/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\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\" 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\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/')\">\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\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\">\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=Fawry receives CBE approval for bank transfer service&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\">\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\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/&title=Fawry receives CBE approval for bank transfer service\">\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=Fawry+receives+CBE+approval+for+bank+transfer+service+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F21%2Ffawry-receives-cbe-approval-for-bank-transfer-service%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\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574749\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/219-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"219.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574748\" class=\"content-area-description single-story post-574748 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round tag-abu-dhabi-islamic-bank tag-alexbank tag-banque-du-caire tag-blockchain tag-economy tag-enterpriseam tag-fawry tag-gcc tag-national-bank-of-egypt tag-speed-round tag-transfers wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Fawry gets CBE nod to partner with state-owned bank for transfer service<\/strong><strong>:<\/strong> E-payments platform Fawry has received preliminary approval from the Central Bank of Egypt (CBE) to set up a bank transfer service for Egyptian expats; the service will be offered in partnership with an unnamed state-owned bank, CEO Ashraf Sabry tells <a href=\"https:\/\/bit.ly\/2ZSMEv7\">Al Mal<\/a>. Fawry <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/03\/fawry-in-talks-to-set-up-bank-transfer-service-for-egyptians-in-gcc-7659\/\">has been in talks<\/a> with several local and regional banks \u2014 including the National Bank of Egypt (NBE), Bank of Alexandria, Banque du Caire, and ADIB \u2014 to set up the remittances service for Egyptians living in the Gulf since last year, former managing director Mohamed Okasha said in December, saying at the time that the service would initially be rolled out in the UAE, Kuwait, and Saudi Arabia. Remittances, particularly from expats in the GCC, are a key source of foreign currency for Egypt and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1caf2c84-825a-44dc-84e0-19e619e882ed\">helped to narrow<\/a> its current account deficit through the worst of the pandemic in 3Q2019-2020.<\/p>\n<p><strong>Could Fawry be teaming up with NBE on the service?<\/strong> The country\u2019s largest bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ae248e9-b50c-4d26-aef8-997b9ddfc3d3\">has been working<\/a> to speed up remittance payments through an agreement with currency exchange network <a href=\"https:\/\/ripple.com\/\">Ripple<\/a>. The NBE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a80dd1e-07b1-4712-b0d9-c4e33b7c6881\">also expanded<\/a> its internet banking platform and mobile banking app, introducing payment services through Fawry and other platforms.<\/p>\n<p><strong>In other news from the industry:<\/strong><\/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\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexbank\/\">Alexbank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blockchain\/\">blockchain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/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\/transfers\/\">TRANSFERS<\/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=\"574761\" 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=\"574761\">\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\">Spotlight<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/\">\r\n                            The future of a sustainable energy market, as global giant BP sees it                        <\/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\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/\" 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\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/')\">\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\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The future of a sustainable energy market, as global giant BP sees it&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/\">\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\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/&title=The future of a sustainable energy market, as global giant BP sees it\">\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+future+of+a+sustainable+energy+market%2C+as+global+giant+BP+sees+it+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F21%2Fthe-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it%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\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/224.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"574762\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/the-future-of-a-sustainable-energy-market-as-global-giant-bp-sees-it\/224-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/224.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"224.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/224.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/224.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574761\" class=\"content-area-description single-story post-574761 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-bp tag-energy tag-enterpriseam tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>What do BP\u2019s plans tell us about the future of sustainable energy?<\/strong> For starters, fossil fuels will comprise a decreasing portion of the global energy mix, while renewable energy will account for an increasing share, buoyed by an increasing electrification of the energy system, BP said in its annual <a href=\"https:\/\/www.bp.com\/en\/global\/corporate\/energy-economics\/energy-outlook.html\">Energy Outlook<\/a> released last week. The energy outlook suggests that <strong>global demand for oil may have already peaked and that the fossil fuel industry is facing a terminal decline<\/strong>. With that in mind, BP is setting its sights on becoming an integrated energy company, as opposed to a hydrocarbon-focus player, with an eye to implement a resilient strategy \u201cweighted towards a rapid transition.\u201d<\/p>\n<p><strong>That\u2019s why BP is looking to become an integrated energy company by 2030<\/strong>, CEO Bernard Looney said in <a href=\"https:\/\/www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/investors\/bpweek\/bpweek-cmd-intro-slides-and-script.pdf\">his opening speech (pdf)<\/a>. Among his goals: <strong>slashing its oil and gas production by 40%, increasing 20-fold its developed net renewable generating capacity<\/strong> to hit 50 GW, ramping up its investment in low carbon energy sources to USD 5 bn per annum, and reducing emissions from its low carbon and renewable energy activities by 30-40%.<\/p>\n<p><strong>How do you get to the other side? By focusing on three key areas of activity:<\/strong> Low carbon electricity and energy, convenience and mobility, and resilient and focused hydrocarbons. BP plans to invest in low carbon electricity and energy sources \u2014 an investment it anticipates will mature in the back half of the decade. These investments include leaning into wind and solar energy, as well as combining different sources of energy (such as solar with biopower or gas with renewables) to provide cleaner, yet affordable energy, said EVP of Production and Operations <a href=\"https:\/\/www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/investors\/bpweek\/bp-week-low-carbon-electricity-and-energy-slides-script.pdf\">Gordon Birrell (pdf)<\/a>. Meanwhile, <strong>the company is \u201cin no rush\u201d to sell its hydrocarbon assets<\/strong>, Looney stressed, but is rather refocusing on resilient hydrocarbons. \u201cThis is not about turning off one tap and turning on a different one. This is about adjusting the flows.\u201d All of these activities, together, will help contribute to growing the company\u2019s cash flow over the next five years, Looney said.<\/p>\n<p><strong>Speaking of the financials: BP has laid out a strategy to continue delivering competitive EBITDA, growth in returns, and attractive upside to shareholders.<\/strong> The strategy rests on three key principles: Prioritizing its capital allocation, maintaining a strong investment grade credit rating and resilient balance sheet, and adopting a clear and disciplined approach to investments, according to CFO <a href=\"https:\/\/www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/investors\/bpweek\/bpweek-financial-frame-slides-and-script.pdf\">Murray Auchincloss (pdf)<\/a>. As part of this strategy, BP is directing its capital allocations over the next five years to funding a resilient dividend, deleveraging its balance sheet to USD 35 bn net debt, and earmarking sufficient capital to push along its energy transition strategy. At a later phase, BP is also committing to share buybacks to return 60% or more of its surplus liquidity to shareholders.<\/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\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/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=\"574763\" 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=\"574763\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/egypt-in-the-news-on-21-september-2020\/\">\r\n                            Egypt in the News on 21 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\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-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 21 September 2020&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/egypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-september-2020\/&title=Egypt in the News on 21 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+21+September+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2020%2F09%2F21%2Fegypt-in-the-news-on-21-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\/21\/egypt-in-the-news-on-21-september-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574763\" class=\"content-area-description single-story post-574763 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-donald-trump tag-egypt-in-the-news tag-enterpriseam tag-iran tag-joe-biden tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The discovery of 14, 2.5k year-old tombs in Saqqara is leading the conversation in <\/strong><strong>the foreign press this morning<\/strong>. The find, <a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/3418995644812728\">announced<\/a><a href=\"https:\/\/www.facebook.com\/moantiquities\/posts\/3418995644812728\">yesterday<\/a>, brings to 27 the number of ancient coffins unearthed in the area this month: <a href=\"https:\/\/www.france24.com\/en\/20200920-egypt-discovers-14-ancient-tombs-at-saqqara\">AFP<\/a> | <a href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/egypt-discovers-14-ancient-sarcophagi-at-saqqara-necropolis\/#gs.g4gw94\">Times of Israel<\/a> | <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-8753295\/Archaeologists-uncover-27-ancient-wooden-coffins-buried-2-500-years-Egypt.html\">Daily Mail<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-54227282\">BBC<\/a>.<\/p>\n<p><strong>What would Egypt-US relations look like under a Biden presidency?<\/strong> If <a href=\"https:\/\/www.ft.com\/content\/132ad76d-0ad4-4cf8-9dc7-acd1797c9e6d\">the Financial<\/a><a href=\"https:\/\/www.ft.com\/content\/132ad76d-0ad4-4cf8-9dc7-acd1797c9e6d\">Times<\/a>\u2019 crystal ball is any indicator, Egypt and the rest of the Middle East should expect a return to Obama-era policies if incumbent Donald Trump fails to secure a second term. The salmon-colored paper suggests that Democratic nominee Joe Biden would scrutinize human rights records across the region and be less forgiving on foreign interventions \u2014 such as Saudi Arabia\u2019s involvement in Yemen. Other countries, including Israel, are also fretting that they could be punished for their closeness to the Trump administration.<\/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\/donald-trump\/\">Donald Trump<\/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\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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=\"574767\" 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=\"574767\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/the-market-yesterday-172\/\">\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\/21\/the-market-yesterday-172\/\" 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\/21\/the-market-yesterday-172\/')\">\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\/21\/the-market-yesterday-172\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/the-market-yesterday-172\/\">\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\/21\/the-market-yesterday-172\/&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%2F21%2Fthe-market-yesterday-172%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\/21\/the-market-yesterday-172\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574767\" class=\"content-area-description single-story post-574767 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 15.68 | Sell 15.78<\/p>\n<p> <strong>EGP \/ USD at CIB:<\/strong> Buy 15.68 | Sell 15.78<br \/>\n <strong>EGP \/ USD at NBE: <\/strong>Buy 15.70 | Sell 15.80<\/p>\n<p><strong>EGX30<\/strong> (Sunday): 10,969 (-0.7%)<br \/>\n <strong>Turnover:<\/strong> EGP 1.1 bn (2% below the 90-day average)<br \/>\n <strong>EGX 30 year-to-date<\/strong>: -21.4%<\/p>\n<p><strong>THE MARKET ON SUNDAY:<\/strong> The EGX30 ended Sunday\u2019s session down 0.7%. CIB, the index\u2019s heaviest constituent, ended down 1.2%. EGX30\u2019s top performing constituents were Porto Group up 3.8%, Kima up 2.7%, and Pioneers Holding up 2.0%. Yesterday\u2019s worst performing stocks were Orascom Development Egypt down 1.9%, Heliopolis Housing down 1.5% and Sodic down 1.5%. The market turnover was EGP 1.1 bn, and regional investors were the sole net buyers.<\/p>\n<p><strong>Foreigners<\/strong>: Net short | EGP -5.7 mn<br \/>\n <strong>Regional<\/strong>: Net long | EGP +15.4 mn<br \/>\n <strong>Domestic<\/strong>: Net short | EGP -9.7 mn<\/p>\n<p><strong>Retail<\/strong>: 82.9% of total trades | 83.5% of buyers | 82.2% of sellers<br \/>\n <strong>Institutions<\/strong>: 17.1% of total trades | 16.5% of buyers | 17.8% of sellers<\/p>\n<p><strong>WTI:<\/strong> USD 41.11 (+0.34%)<\/p>\n<p><strong>Brent:<\/strong> USD 43.15 (-0.35%)<\/p>\n<p><strong>Natural Gas:<\/strong> (Nymex, futures prices) USD 2.05 MMBtu, (+0.29%, October 2020 contract)<\/p>\n<p><strong>Gold:<\/strong> USD 1,962.10 \/ troy ounce (+0.63%)<\/p>\n<p><strong>TASI:<\/strong> 8,364 (+0.32%) (YTD: -0.29%)<br \/>\n <strong>ADX:<\/strong> 4,546 (+0.79%) (YTD: -10.43%)<br \/>\n <strong>DFM:<\/strong> 2,320 (-0.03%) (YTD: -16.08%)<br \/>\n <strong>KSE Premier Market:<\/strong> 6,075 (+1.09%)<br \/>\n <strong>QE:<\/strong> 9,915 (-0.26%) (YTD: -4.89%)<br \/>\n <strong>MSM:<\/strong> 3,619 (-0.79%) (YTD: -9.10%)<br \/>\n <strong>BB: <\/strong>1,442 (+0.47%) (YTD: -10.44%)<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"574768\" 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\/21\/574768\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-574768\" class=\"content-area-description single-story post-574768 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>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>20-27 September (Sunday-Sunday): Welcome Schools expo, Cairo Fair Zone, Nasr City.<\/p>\n<p>21 September (Monday): Government to relax some of the restrictions on mass gatherings.<\/p>\n<p>21 September-1 October (Monday-Thursday): EFG Hermes\u2019 second <a href=\"https:\/\/2ndvirtualconference.efghermes.com\/login.aspx?target=cmp\">Virtual Investors Conference<\/a>.<\/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>28 September-3 October (Monday-Saturday): CIB PSA World Tour Finals, Cairo, Egypt.<\/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>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>1-10 October (Thursday-Saturday): Alexandria Book Fair, Kouta, Alexandria.<\/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>12 October (Monday): The Egyptian Iron and Steel company <a href=\"https:\/\/bit.ly\/2RJtfZq\">general assembly<\/a> would discuss demerging its mining and quarrying unit and restructure the company\u2019s board of directors<\/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>18-22 October (Sunday-Thursday): The annual <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a> event \u2014 which will be semi- virtual this year \u2014 will be held under the slogan \u201cWater Security for Peace and Development in Arid Regions\u201d<\/p>\n<p>21-23 October (Wednesday-Friday): Polls open to international voters for first round of Parliamentary elections in Giza, Fayoum, Beni Suef, Minya, Assiut, New Valley, Sohag, Qena, Luxor, Aswan, Red Sea, Alexandria, Beheira, Matrouh.<\/p>\n<p>23-31 October (Friday-Saturday): <a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a>, El Gouna, Egypt.<\/p>\n<p>24-25 October (Saturday - Sunday) Polls open for first round of Parliamentary elections in Giza, Fayoum, Beni Suef, Minya, Assiut, New Valley, Sohag, Qena, Luxor, Aswan, Red Sea, Alexandria, Beheira, Matrouh.<\/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>November: An Egyptian-Russian ministerial committee <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/3275672832501495\">will meet<\/a> to discuss trade and investment in Moscow.<\/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 the 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>4-6 November (Wednesday-Friday): Polls open to international voters for first round of Parliamentary elections in Cairo, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/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>7-8 November (Saturday-Sunday): Polls open for first round of Parliamentary elections in Cairo, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/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>19-28 November (Thursday-Sunday): <a href=\"https:\/\/www.ciff.org.eg\/\">Cairo International Film Festival<\/a>, Cairo Opera House, Egypt.<\/p>\n<p>23-24 November (Monday-Tuesday): Reruns for Parliamentary elections in Giza, Fayoum, Beni Suef, Minya, Assiut, New Valley, Sohag, Qena, Luxor, Aswan, Red Sea, Alexandria, Beheira, Matrouh.<\/p>\n<p>30 November (Monday): Final results will be announced for Parliamentary elections held in Giza, Fayoum, Beni Suef, Minya, Assiut, New Valley, Sohag, Qena, Luxor, Aswan, Red Sea, Alexandria, Beheira, Matrouh.<\/p>\n<p>December: The 110th regular <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1718744134970611\">session<\/a> of the Egyptian-Iraqi Joint Higher Committee will be held under the chairmanship of the prime ministers of the two countries<\/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>7-8 December (Monday-Tuesday): Reruns for Parliamentary elections in Cairo, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/p>\n<p>9-10 December (Wednesday-Thursday): <a href=\"http:\/\/www.biznexpo.com\/\">BiznEx<\/a>, the international business expo in Egypt, <a href=\"https:\/\/bit.ly\/3kz8vjb\">venue TBD<\/a>.<\/p>\n<p>14 December (Monday): Final results will be announced for Parliamentary elections held in Cairo, Qalyubia, Menofia, Gharbia, Kafr El Sheikh, Sharqia, Damietta, Port Said, Ismailia, Suez, North Sinai and South Sinai.<\/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<p>30 July-3 August 2021 (Thursday-Monday): Eid Al Adha, national holiday (TBC).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":574744,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-574743","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"34020355-84e4-4b51-9f11-03f0e2fdf73a","teaser":"","photo_url":"https:\/\/ent.news\/2020\/9\/218.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\/ 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